Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2019 | Jan. 31, 2020 | Jun. 28, 2019 | |
Document Transition Report | false | ||
Entity File Number | 1-11299 | ||
Document Quarterly Report | true | ||
Entity Registrant Name | ENTERGY CORPORATION | ||
Entity Central Index Key | 0000065984 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Address, Address Line One | 639 Loyola Avenue | ||
Entity Address, City or Town | New Orleans | ||
Entity Address, State or Province | LA | ||
Entity Address, Country | US | ||
Entity Address, Postal Zip Code | 70113 | ||
City Area Code | 504 | ||
Local Phone Number | 576-4000 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Public Float | $ 20.5 | ||
Entity Common Stock, Shares Outstanding | 199,726,738 | ||
Entity Tax Identification Number | 72-1229752 | ||
Entergy Arkansas [Member] | |||
Entity File Number | 1-10764 | ||
Entity Registrant Name | ENTERGY ARKANSAS, LLC | ||
Entity Central Index Key | 0000007323 | ||
Entity Incorporation, State or Country Code | TX | ||
Entity Address, Address Line One | 425 West Capitol Avenue | ||
Entity Address, City or Town | Little Rock | ||
Entity Address, State or Province | AR | ||
Entity Address, Country | US | ||
Entity Address, Postal Zip Code | 72201 | ||
City Area Code | 501 | ||
Local Phone Number | 377-4000 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Tax Identification Number | 83-1918668 | ||
Entergy Louisiana [Member] | |||
Entity File Number | 1-32718 | ||
Entity Registrant Name | ENTERGY LOUISIANA, LLC | ||
Entity Central Index Key | 0001348952 | ||
Entity Incorporation, State or Country Code | TX | ||
Entity Address, Address Line One | 4809 Jefferson Highway | ||
Entity Address, City or Town | Jefferson | ||
Entity Address, State or Province | LA | ||
Entity Address, Country | US | ||
Entity Address, Postal Zip Code | 70121 | ||
City Area Code | 504 | ||
Local Phone Number | 576-4000 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Tax Identification Number | 47-4469646 | ||
Entergy Mississippi [Member] | |||
Entity File Number | 1-31508 | ||
Entity Registrant Name | ENTERGY MISSISSIPPI, LLC | ||
Entity Central Index Key | 0000066901 | ||
Entity Incorporation, State or Country Code | TX | ||
Entity Address, Address Line One | 308 East Pearl Street | ||
Entity Address, City or Town | Jackson | ||
Entity Address, State or Province | MS | ||
Entity Address, Country | US | ||
Entity Address, Postal Zip Code | 39201 | ||
City Area Code | 601 | ||
Local Phone Number | 368-5000 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Tax Identification Number | 83-1950019 | ||
Entergy New Orleans [Member] | |||
Entity File Number | 1-35747 | ||
Entity Registrant Name | ENTERGY NEW ORLEANS, LLC | ||
Entity Central Index Key | 0000071508 | ||
Entity Incorporation, State or Country Code | TX | ||
Entity Address, Address Line One | 1600 Perdido Street | ||
Entity Address, City or Town | New Orleans | ||
Entity Address, State or Province | LA | ||
Entity Address, Country | US | ||
Entity Address, Postal Zip Code | 70112 | ||
City Area Code | 504 | ||
Local Phone Number | 670-3700 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Tax Identification Number | 82-2212934 | ||
Entergy Texas [Member] | |||
Title of 12(g) Security | Common Stock, no par value | ||
Entity File Number | 1-34360 | ||
Entity Registrant Name | ENTERGY TEXAS, INC. | ||
Entity Central Index Key | 0001427437 | ||
Entity Incorporation, State or Country Code | TX | ||
Entity Address, Address Line One | 10055 Grogans Mill Road | ||
Entity Address, City or Town | The Woodlands | ||
Entity Address, State or Province | TX | ||
Entity Address, Country | US | ||
Entity Address, Postal Zip Code | 77380 | ||
City Area Code | 409 | ||
Local Phone Number | 981-2000 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Tax Identification Number | 61-1435798 | ||
System Energy [Member] | |||
Entity File Number | 1-09067 | ||
Entity Registrant Name | SYSTEM ENERGY RESOURCES, INC. | ||
Entity Central Index Key | 0000202584 | ||
Entity Incorporation, State or Country Code | AR | ||
Entity Address, Address Line One | 1340 Echelon Parkway | ||
Entity Address, City or Town | Jackson | ||
Entity Address, State or Province | MS | ||
Entity Address, Country | US | ||
Entity Address, Postal Zip Code | 39213 | ||
City Area Code | 601 | ||
Local Phone Number | 368-5000 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Tax Identification Number | 72-0752777 | ||
NEW YORK STOCK EXCHANGE, INC. [Member] | |||
Title of 12(b) Security | Common Stock, $0.01 Par Value | ||
Trading Symbol | ETR | ||
Security Exchange Name | NYSE | ||
CHICAGO STOCK EXCHANGE, INC [Member] | |||
Title of 12(b) Security | Common Stock, $0.01 Par Value | ||
Trading Symbol | ETR | ||
Security Exchange Name | CHX | ||
Mortgage Bonds, 4.75% Series, Due June 2063 [Member] [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy Arkansas [Member] | |||
Title of 12(b) Security | Mortgage Bonds, 4.75% Series due June 2063 | ||
Trading Symbol | EAE | ||
Security Exchange Name | NYSE | ||
Four Point Eight Seven Five Percent Series First Mortgage Bonds Due September Two Thousand Sixty Six [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy Arkansas [Member] | |||
Title of 12(b) Security | Mortgage Bonds, 4.875% Series due September 2066 | ||
Trading Symbol | EAI | ||
Security Exchange Name | NYSE | ||
Four Point Eight Seven Five Percent Series First Mortgage Bonds Due September Two Thousand Sixty Six [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy Louisiana [Member] | |||
Title of 12(b) Security | Mortgage Bonds, 4.875% Series due September 2066 | ||
Trading Symbol | ELC | ||
Security Exchange Name | NYSE | ||
Mortgage Bonds, 5.25% Series, Due July 2052 [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy Louisiana [Member] | |||
Title of 12(b) Security | Mortgage Bonds, 5.25% Series due July 2052 | ||
Trading Symbol | ELJ | ||
Security Exchange Name | NYSE | ||
Mortgage Bonds, 4.7% Series, Due June 2063 [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy Louisiana [Member] | |||
Title of 12(b) Security | Mortgage Bonds, 4.70% Series due June 2063 | ||
Trading Symbol | ELU | ||
Security Exchange Name | NYSE | ||
Mortgage Bonds, Four Point Nine Zero Percent Series, Due October Two Thousand Sixty Six [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy Mississippi [Member] | |||
Title of 12(b) Security | Mortgage Bonds, 4.90% Series due October 2066 | ||
Trading Symbol | EMP | ||
Security Exchange Name | NYSE | ||
Mortgage Bonds, 5.0% Series, Due December 2052 [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy New Orleans [Member] | |||
Title of 12(b) Security | Mortgage Bonds, 5.0% Series due December 2052 | ||
Trading Symbol | ENJ | ||
Security Exchange Name | NYSE | ||
Mortgage Bonds, 5.5% Series, Due April 2066 [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy New Orleans [Member] | |||
Title of 12(b) Security | Mortgage Bonds, 5.50% Series due April 2066 | ||
Trading Symbol | ENO | ||
Security Exchange Name | NYSE | ||
Mortgage Bonds, 5.625% Series, Due June 2064 [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy Texas [Member] | |||
Title of 12(b) Security | Mortgage Bonds, 5.625% Series due June 2064 | ||
Trading Symbol | EZT | ||
Security Exchange Name | NYSE | ||
5.375% Series A Preferred Stock, Cumulative, No Par Value [Domain] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy Texas [Member] | |||
Title of 12(b) Security | 5.375% Series A Preferred Stock, Cumulative, No Par Value (Liquidation Value $25 Per Share) | ||
Trading Symbol | ETI/PR | ||
Security Exchange Name | NYSE | ||
Mortgage Bonds, 4.9% Series, Due December 2052 [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Entergy Arkansas [Member] | |||
Title of 12(b) Security | Mortgage Bonds, 4.90% Series due December 2052 | ||
Trading Symbol | EAB | ||
Security Exchange Name | NYSE |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 10,878,673 | $ 11,009,452 | $ 11,074,481 |
Operation and Maintenance: | |||
Fuel, fuel-related expenses, and gas purchased for resale | 2,029,638 | 2,147,793 | 1,991,589 |
Nuclear refueling outage expenses | 204,927 | 153,826 | 168,151 |
Operation and maintenance expense | 3,272,381 | 3,346,397 | 3,306,694 |
Asset Impairment Charges | 290,027 | 532,321 | 538,372 |
Decommissioning | 400,802 | 388,508 | 405,685 |
Taxes, Other | 643,745 | 641,952 | 617,556 |
Other Depreciation and Amortization | 1,480,016 | 1,369,442 | 1,389,978 |
Other regulatory charges (credits) - net | (26,220) | 301,049 | (131,901) |
Costs and Expenses | 9,488,176 | 10,540,087 | 9,714,074 |
OPERATING INCOME | 1,390,497 | 469,365 | 1,360,407 |
OTHER INCOME | |||
Allowance for equity funds used during construction | 144,974 | 129,602 | 95,088 |
Investment Income, Net | 547,912 | 63,864 | 288,197 |
Miscellaneous - net | (252,539) | (129,754) | (113,426) |
TOTAL | 440,347 | 63,712 | 269,859 |
INTEREST EXPENSE | |||
Interest expense | 807,382 | 768,322 | 707,212 |
Allowance for borrowed funds used during construction | (64,957) | (60,974) | (44,869) |
TOTAL | 742,425 | 707,348 | 662,343 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 1,088,419 | (174,271) | 967,923 |
Income Tax Expense (Benefit) | (169,825) | (1,036,826) | 542,570 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 1,258,244 | 862,555 | 425,353 |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 17,018 | 13,894 | 13,741 |
Net Income (Loss) Available to Common Stockholders, Basic | $ 1,241,226 | $ 848,661 | $ 411,612 |
Earnings per average common share: | |||
Basic (in usd per share) | $ 6.36 | $ 4.68 | $ 2.29 |
Diluted (in usd per share) | $ 6.30 | $ 4.63 | $ 2.28 |
Basic average number of common shares outstanding | 195,195,858 | 181,409,597 | 179,671,797 |
Diluted average number of common shares outstanding | 196,999,284 | 183,378,513 | 180,535,893 |
Electricity [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 9,429,978 | $ 9,384,111 | $ 9,278,895 |
Natural Gas, US Regulated [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 153,954 | 156,436 | 138,856 |
Competitive Businesses [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,294,741 | 1,468,905 | 1,656,730 |
Electricity, Purchased [Member] | |||
Operation and Maintenance: | |||
Cost of Goods and Services Sold | 1,192,860 | 1,658,799 | 1,427,950 |
Entergy Arkansas [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,259,594 | 2,060,643 | |
Operation and Maintenance: | |||
Fuel, fuel-related expenses, and gas purchased for resale | 458,907 | 517,245 | 402,777 |
Nuclear refueling outage expenses | 68,769 | 77,915 | 83,968 |
Operation and maintenance expense | 720,217 | 724,831 | 694,157 |
Decommissioning | 68,030 | 60,420 | 56,860 |
Taxes, Other | 115,869 | 104,771 | 103,662 |
Other Depreciation and Amortization | 307,351 | 292,649 | 277,146 |
Other regulatory charges (credits) - net | (11,186) | (14,807) | (16,074) |
Costs and Expenses | 1,932,597 | 2,015,414 | 1,833,148 |
OPERATING INCOME | 326,997 | 45,229 | 306,771 |
OTHER INCOME | |||
Allowance for equity funds used during construction | 15,499 | 16,557 | 18,452 |
Investment Income, Net | 26,020 | 25,406 | 35,882 |
Miscellaneous - net | (18,566) | (14,874) | (13,967) |
TOTAL | 22,953 | 27,089 | 40,367 |
INTEREST EXPENSE | |||
Interest expense | 140,087 | 124,459 | 122,075 |
Allowance for borrowed funds used during construction | (6,332) | (7,781) | (8,585) |
TOTAL | 133,755 | 116,678 | 113,490 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 216,195 | (44,360) | 233,648 |
Income Tax Expense (Benefit) | (46,769) | (297,067) | 93,804 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 262,964 | 252,707 | 139,844 |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 0 | 1,249 | 1,428 |
Net Income (Loss) Available to Common Stockholders, Basic | 262,964 | 251,458 | 138,416 |
Entergy Arkansas [Member] | Electricity [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,259,594 | 2,060,643 | 2,139,919 |
Entergy Arkansas [Member] | Natural Gas, US Regulated [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | |
Entergy Arkansas [Member] | Electricity, Purchased [Member] | |||
Operation and Maintenance: | |||
Cost of Goods and Services Sold | 204,640 | 252,390 | 230,652 |
Entergy Louisiana [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 4,285,175 | 4,296,320 | 4,300,550 |
Operation and Maintenance: | |||
Fuel, fuel-related expenses, and gas purchased for resale | 845,108 | 915,410 | 912,060 |
Nuclear refueling outage expenses | 54,170 | 51,626 | 52,074 |
Operation and maintenance expense | 994,637 | 959,185 | 941,604 |
Decommissioning | 59,346 | 53,736 | 49,457 |
Taxes, Other | 194,222 | 183,745 | 175,359 |
Other Depreciation and Amortization | 535,791 | 492,179 | 467,369 |
Other regulatory charges (credits) - net | (105,203) | 4,396 | (152,080) |
Costs and Expenses | 3,388,533 | 3,620,549 | 3,425,913 |
OPERATING INCOME | 896,642 | 675,771 | 874,637 |
OTHER INCOME | |||
Allowance for equity funds used during construction | 74,023 | 79,922 | 51,485 |
Investment Income, Net | 231,985 | 141,882 | 164,550 |
Miscellaneous - net | (115,427) | (27,530) | (39,756) |
TOTAL | 190,581 | 194,274 | 176,279 |
INTEREST EXPENSE | |||
Interest expense | 309,493 | 288,658 | 275,185 |
Allowance for borrowed funds used during construction | (35,430) | (39,616) | (25,914) |
TOTAL | 274,063 | 249,042 | 249,271 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 813,160 | 621,003 | 801,645 |
Income Tax Expense (Benefit) | 121,623 | (54,611) | 485,298 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 691,537 | 675,614 | 316,347 |
Net Income (Loss) Available to Common Stockholders, Basic | 691,537 | 675,614 | 316,347 |
Entergy Louisiana [Member] | Electricity [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 4,223,027 | 4,232,541 | 4,246,020 |
Entergy Louisiana [Member] | Natural Gas, US Regulated [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 62,148 | 63,779 | 54,530 |
Entergy Louisiana [Member] | Electricity, Purchased [Member] | |||
Operation and Maintenance: | |||
Cost of Goods and Services Sold | 810,462 | 960,272 | 980,070 |
Entergy Mississippi [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,323,043 | 1,335,112 | |
Operation and Maintenance: | |||
Fuel, fuel-related expenses, and gas purchased for resale | 277,425 | 260,198 | 185,816 |
Operation and maintenance expense | 266,175 | 261,613 | 240,738 |
Taxes, Other | 105,318 | 101,999 | 95,051 |
Other Depreciation and Amortization | 170,886 | 152,577 | 143,479 |
Other regulatory charges (credits) - net | 14,993 | 147,704 | (19,134) |
Costs and Expenses | 1,119,289 | 1,288,666 | 974,413 |
OPERATING INCOME | 203,754 | 46,446 | 223,816 |
OTHER INCOME | |||
Allowance for equity funds used during construction | 8,356 | 8,710 | 9,667 |
Investment Income, Net | 1,412 | 135 | 85 |
Miscellaneous - net | (4,478) | (2,732) | (2,232) |
TOTAL | 5,290 | 6,113 | 7,520 |
INTEREST EXPENSE | |||
Interest expense | 61,785 | 55,905 | 51,260 |
Allowance for borrowed funds used during construction | (3,532) | (3,651) | (3,875) |
TOTAL | 58,253 | 52,254 | 47,385 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 150,791 | 305 | 183,951 |
Income Tax Expense (Benefit) | 30,866 | (125,773) | 73,919 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 119,925 | 126,078 | 110,032 |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 0 | 834 | 953 |
Net Income (Loss) Available to Common Stockholders, Basic | 119,925 | 125,244 | 109,079 |
Entergy Mississippi [Member] | Electricity [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,323,043 | 1,335,112 | 1,198,229 |
Entergy Mississippi [Member] | Natural Gas, US Regulated [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | |
Entergy Mississippi [Member] | Electricity, Purchased [Member] | |||
Operation and Maintenance: | |||
Cost of Goods and Services Sold | 284,492 | 364,575 | 328,463 |
Entergy New Orleans [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 686,223 | 717,390 | 716,070 |
Operation and Maintenance: | |||
Fuel, fuel-related expenses, and gas purchased for resale | 105,217 | 114,787 | 111,082 |
Operation and maintenance expense | 121,057 | 124,293 | 107,977 |
Taxes, Other | 55,270 | 56,141 | 54,590 |
Other Depreciation and Amortization | 56,072 | 55,930 | 52,945 |
Other regulatory charges (credits) - net | 21,616 | 21,413 | 10,889 |
Costs and Expenses | 617,538 | 643,198 | 619,661 |
OPERATING INCOME | 68,685 | 74,192 | 96,409 |
OTHER INCOME | |||
Allowance for equity funds used during construction | 9,941 | 5,941 | 2,418 |
Investment Income, Net | 428 | 604 | 707 |
Miscellaneous - net | (6,038) | (10,444) | (1,269) |
TOTAL | 4,331 | (3,899) | 1,856 |
INTEREST EXPENSE | |||
Interest expense | 24,463 | 21,772 | 21,281 |
Allowance for borrowed funds used during construction | (4,262) | (2,195) | (847) |
TOTAL | 20,201 | 19,577 | 20,434 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 52,815 | 50,716 | 77,831 |
Income Tax Expense (Benefit) | 186 | (2,436) | 33,278 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 52,629 | 53,152 | 44,553 |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 0 | 0 | 841 |
Net Income (Loss) Available to Common Stockholders, Basic | 52,629 | 53,152 | 43,712 |
Entergy New Orleans [Member] | Electricity [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 594,417 | 624,733 | 631,744 |
Entergy New Orleans [Member] | Natural Gas, US Regulated [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 91,806 | 92,657 | 84,326 |
Entergy New Orleans [Member] | Electricity, Purchased [Member] | |||
Operation and Maintenance: | |||
Cost of Goods and Services Sold | 258,306 | 270,634 | 282,178 |
Entergy Texas [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,488,955 | 1,605,902 | |
Operation and Maintenance: | |||
Fuel, fuel-related expenses, and gas purchased for resale | 162,544 | 204,830 | 225,517 |
Operation and maintenance expense | 258,924 | 238,400 | 230,437 |
Taxes, Other | 76,366 | 82,033 | 79,254 |
Other Depreciation and Amortization | 153,286 | 128,534 | 117,520 |
Other regulatory charges (credits) - net | 88,770 | 131,667 | 82,328 |
Costs and Expenses | 1,342,453 | 1,399,476 | 1,345,335 |
OPERATING INCOME | 146,502 | 206,426 | 199,558 |
OTHER INCOME | |||
Allowance for equity funds used during construction | 28,445 | 9,723 | 6,722 |
Investment Income, Net | 3,072 | 2,188 | 981 |
Miscellaneous - net | 546 | (655) | 14 |
TOTAL | 32,063 | 11,256 | 7,717 |
INTEREST EXPENSE | |||
Interest expense | 86,333 | 87,203 | 86,719 |
Allowance for borrowed funds used during construction | (13,269) | (5,513) | (4,098) |
TOTAL | 73,064 | 81,690 | 82,621 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 105,501 | 135,992 | 124,654 |
Income Tax Expense (Benefit) | (53,896) | (26,243) | 48,481 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 159,397 | 162,235 | 76,173 |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 580 | 0 | 0 |
Net Income (Loss) Available to Common Stockholders, Basic | 158,817 | 162,235 | 76,173 |
Entergy Texas [Member] | Electricity [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,488,955 | 1,605,902 | 1,544,893 |
Entergy Texas [Member] | Natural Gas, US Regulated [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | |
Entergy Texas [Member] | Electricity, Purchased [Member] | |||
Operation and Maintenance: | |||
Cost of Goods and Services Sold | 602,563 | 614,012 | 610,279 |
System Energy [Member] | |||
Operation and Maintenance: | |||
Fuel, fuel-related expenses, and gas purchased for resale | 82,438 | 64,778 | 71,700 |
Nuclear refueling outage expenses | 33,376 | 20,715 | 17,968 |
Operation and maintenance expense | 206,444 | 196,505 | 207,344 |
Decommissioning | 35,729 | 34,336 | 43,347 |
Taxes, Other | 29,018 | 28,090 | 26,180 |
Other Depreciation and Amortization | 106,630 | 97,527 | 137,767 |
Other regulatory charges (credits) - net | (35,210) | (28,924) | (37,831) |
Costs and Expenses | 458,425 | 413,027 | 466,475 |
OPERATING INCOME | 114,985 | 43,680 | 166,983 |
OTHER INCOME | |||
Allowance for equity funds used during construction | 8,709 | 8,750 | 6,345 |
Investment Income, Net | 29,488 | 35,985 | 17,538 |
Miscellaneous - net | (5,516) | (5,775) | (6,711) |
TOTAL | 32,681 | 38,960 | 17,172 |
INTEREST EXPENSE | |||
Interest expense | 35,328 | 38,424 | 37,141 |
Allowance for borrowed funds used during construction | (2,131) | (2,218) | (1,551) |
TOTAL | 33,197 | 36,206 | 35,590 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 114,469 | 46,434 | 148,565 |
Income Tax Expense (Benefit) | 15,349 | (47,675) | 69,969 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 99,120 | 94,109 | 78,596 |
Net Income (Loss) Available to Common Stockholders, Basic | 99,120 | 94,109 | 78,596 |
System Energy [Member] | Electricity [Member] | |||
REVENUES | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 573,410 | $ 456,707 | $ 633,458 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 1,258,244 | $ 862,555 | $ 425,353 |
Other comprehensive income (loss) | |||
Cash flow hedges net unrealized gain (loss) | 115,026 | 22,098 | (41,470) |
Pension and other postretirement liabilities | (25,150) | 90,143 | (61,653) |
Net unrealized investment gains | 27,183 | (28,771) | 115,311 |
Foreign currency translation | 0 | 0 | (748) |
Net other comprehensive income (loss) for the period | 117,059 | 83,470 | 11,440 |
Total comprehensive income | 1,375,303 | 946,025 | 436,793 |
Preferred dividend requirements of subsidiaries | 17,018 | 13,894 | 13,741 |
Comprehensive Income Attributable to Entergy Corporation | 1,358,285 | 932,131 | 423,052 |
Entergy Louisiana [Member] | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 691,537 | 675,614 | 316,347 |
Other comprehensive income (loss) | |||
Pension and other postretirement liabilities | 10,715 | 50,296 | 2,042 |
Net other comprehensive income (loss) for the period | 10,715 | 50,296 | 2,042 |
Total comprehensive income | $ 702,252 | $ 725,910 | $ 318,389 |
Consolidated Statements Of Co_2
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flow hedges net unrealized gain (loss), tax expense (benefit) | $ 28,516 | $ 5,830 | $ (22,570) |
Pension and other postretirement liabilities, tax expense | (6,539) | 30,299 | (4,057) |
Net unrealized investment gains, tax expense | 14,023 | 6,393 | 80,069 |
Foreign currency translation, tax expense | 0 | 0 | (403) |
Entergy Louisiana [Member] | |||
Pension and other postretirement liabilities, tax expense | $ 3,781 | $ 17,743 | $ 234 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
OPERATING ACTIVITIES | |||
Consolidated net income | $ 1,258,244 | $ 862,555 | $ 425,353 |
Adjustments to reconcile net income to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 2,182,313 | 2,040,555 | 2,078,578 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 193,950 | (256,848) | 529,053 |
Asset Write-Offs, Impairments, And Related Charges | 226,678 | 491,739 | 357,251 |
Changes in working capital: | |||
Receivables | (101,227) | 98,546 | (97,637) |
Fuel inventory | (28,173) | 45,839 | (3,043) |
Accounts payable | (71,898) | 97,312 | 101,802 |
Taxes accrued | (20,784) | 39,272 | 33,853 |
Interest accrued | 937 | 5,220 | 742 |
Deferred fuel costs | 172,146 | (25,829) | 56,290 |
Other working capital accounts | (3,108) | (164,173) | (4,331) |
Changes in provisions for estimated losses | 19,914 | 35,706 | (3,279) |
Increase (Decrease) in Other Regulatory Assets | 545,559 | (189,193) | (595,504) |
Increase (Decrease) in Regulatory Liabilities | (14,781) | (803,323) | 2,915,795 |
Deferred tax rate change recognized as regulatory liability/asset | 0 | 0 | (3,665,498) |
Changes in pensions and other postretirement liabilities | 187,124 | (304,941) | (130,686) |
Other | 639,149 | (34,424) | 566,247 |
Net cash flow provided by operating activities | 2,816,627 | 2,385,247 | 2,623,500 |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (4,197,667) | (3,942,010) | (3,607,532) |
Allowance for equity funds used during construction | 144,862 | 130,195 | 96,000 |
Nuclear fuel purchases | (128,366) | (302,584) | (377,324) |
Payment for purchase of plant or assets | (305,472) | (26,623) | (16,762) |
Proceeds from sale of assets | 28,932 | 24,902 | 100,000 |
Payments To Storm Reserve Escrow Account | (8,038) | (6,551) | (2,878) |
Receipts from storm reserve escrow account | 0 | 0 | 11,323 |
Changes in securitization account | 3,298 | (5,844) | 1,323 |
Decrease (increase) in other investments | 30,319 | (54,500) | 1,078 |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 2,369 | 59,643 | 25,493 |
Proceeds from nuclear decommissioning trust fund sales | 4,121,351 | 6,484,791 | 3,162,747 |
Investment in nuclear decommissioning trust funds | (4,208,870) | (6,485,676) | (3,260,674) |
Proceeds from insurance | 7,040 | 18,270 | 26,157 |
Net cash flow used in investing activities | (4,510,242) | (4,105,987) | (3,841,049) |
Proceeds from the issuance of: | |||
Long-term debt | 9,304,396 | 8,035,536 | 1,809,390 |
Preferred stock of subsidiary | 33,188 | 73,330 | 14,399 |
Common stock and treasury stock | 93,862 | 103,315 | 80,729 |
Proceeds from Issuance of Common Stock | 607,650 | 499,272 | 0 |
Retirement of long-term debt | (7,619,380) | (6,965,738) | (1,585,681) |
Payments for Repurchase of Preferred Stock and Preference Stock | (50,000) | (53,868) | (20,599) |
Changes in credit borrowings and commercial paper - net | (4,389) | (364,031) | (1,163,296) |
Dividends paid: | |||
Common stock | (711,573) | (647,704) | (628,885) |
Preferred stock | (16,438) | (14,185) | (13,940) |
Other | (7,732) | 26,453 | (7,731) |
Net cash flow provided by financing activities | 1,638,362 | 1,420,442 | 810,978 |
Net increase (decrease) in cash and cash equivalents | (55,253) | (300,298) | (406,571) |
Cash and cash equivalents at beginning of period | 480,975 | 781,273 | 1,187,844 |
Cash and cash equivalents at end of period | 425,722 | 480,975 | 781,273 |
Cash paid (received) during the period for: | |||
Interest - net of amount capitalized | 778,209 | 734,845 | 678,371 |
Income taxes | (40,435) | 19,825 | (13,375) |
Entergy Arkansas [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income | 262,964 | 252,707 | 139,844 |
Adjustments to reconcile net income to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 465,299 | 443,698 | 427,394 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 94,368 | 129,524 | 67,711 |
Changes in working capital: | |||
Receivables | (58,077) | 4,294 | (23,397) |
Fuel inventory | (10,597) | 6,210 | 3,402 |
Accounts payable | 3,059 | (126,405) | 16,011 |
Taxes accrued | 24,942 | 9,568 | 40,127 |
Interest accrued | 3,895 | 678 | 1,635 |
Deferred fuel costs | 72,560 | 43,869 | 33,190 |
Other working capital accounts | 18,783 | (30,118) | 15,087 |
Changes in provisions for estimated losses | 14,901 | 14,250 | 16,047 |
Increase (Decrease) in Other Regulatory Assets | 131,873 | (32,460) | 76,762 |
Increase (Decrease) in Regulatory Liabilities | 39,293 | (341,682) | 1,043,507 |
Deferred tax rate change recognized as regulatory liability/asset | 0 | 0 | (1,047,837) |
Changes in pensions and other postretirement liabilities | 5,831 | (40,157) | (70,826) |
Other | 127,582 | 187,071 | 29,577 |
Net cash flow provided by operating activities | 677,766 | 211,825 | 555,556 |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (641,525) | (660,044) | (735,816) |
Allowance for equity funds used during construction | 15,306 | 17,013 | 19,211 |
Nuclear fuel purchases | (54,344) | (99,417) | (151,424) |
Proceeds from sale of nuclear fuel | 22,782 | 54,810 | 51,029 |
Decrease (increase) in other investments | 630 | (1,517) | 392 |
Proceeds from nuclear decommissioning trust fund sales | 317,377 | 300,801 | 339,434 |
Investment in nuclear decommissioning trust funds | (336,519) | (315,163) | (352,138) |
Proceeds from insurance | 0 | 14,790 | 0 |
Net cash flow used in investing activities | (676,293) | (688,727) | (829,312) |
Proceeds from the issuance of: | |||
Long-term debt | 834,038 | 958,434 | 294,656 |
Retirement of long-term debt | (548,952) | (690,488) | (175,560) |
Proceeds from Contributions from Parent | 0 | 350,000 | 0 |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | (32,660) | 0 |
Change in money pool payable - net | (161,104) | 16,601 | 114,905 |
Changes in credit borrowings and commercial paper - net | 0 | 49,974 | (49,974) |
Dividends paid: | |||
Common stock | (115,000) | (91,751) | (15,000) |
Preferred stock | 0 | (1,606) | (1,428) |
Other | (7,055) | 12,249 | (8,084) |
Net cash flow provided by financing activities | 1,927 | 470,805 | 259,463 |
Net increase (decrease) in cash and cash equivalents | 3,400 | (6,097) | (14,293) |
Cash and cash equivalents at beginning of period | 119 | 6,216 | 20,509 |
Cash and cash equivalents at end of period | 3,519 | 119 | 6,216 |
Cash paid (received) during the period for: | |||
Interest - net of amount capitalized | 131,134 | 118,731 | 115,162 |
Income taxes | (33,989) | 44,393 | (8,141) |
Noncash Capital Contribution from Parent | (94,335) | ||
Entergy Louisiana [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income | 691,537 | 675,614 | 316,347 |
Adjustments to reconcile net income to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 685,062 | 662,390 | 621,018 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 196,533 | 174,063 | 575,804 |
Changes in working capital: | |||
Receivables | 13,942 | 89,701 | (53,829) |
Fuel inventory | (7,195) | 5,310 | 11,010 |
Accounts payable | (33,375) | 11,372 | 58,880 |
Taxes accrued | (38,827) | 12,711 | 128,261 |
Interest accrued | 4,294 | 7,922 | (70) |
Deferred fuel costs | 24,234 | (40,036) | 23,236 |
Other working capital accounts | (62,536) | (5,809) | (30,911) |
Changes in provisions for estimated losses | 9,664 | 8,307 | (8,324) |
Increase (Decrease) in Other Regulatory Assets | 210,134 | (40,765) | (492,696) |
Increase (Decrease) in Regulatory Liabilities | (35,881) | (125,185) | 605,453 |
Deferred tax rate change recognized as regulatory liability/asset | 0 | 0 | (1,207,808) |
Changes in pensions and other postretirement liabilities | 35,162 | (106,269) | (32,309) |
Other | 36,478 | 15,652 | 161,909 |
Net cash flow provided by operating activities | 1,236,002 | 1,395,204 | 1,337,545 |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (1,673,194) | (1,805,641) | (1,662,835) |
Allowance for equity funds used during construction | 74,023 | 79,922 | 51,485 |
Nuclear fuel purchases | (85,984) | (111,329) | (197,829) |
Proceeds from sale of nuclear fuel | 11,596 | 53,603 | 42,634 |
Payments for (Proceeds from) Productive Assets | 0 | (26,623) | (9,805) |
Proceeds from sale of assets | 0 | 11,987 | 0 |
Payments To Storm Reserve Escrow Account | (6,353) | (4,770) | (2,110) |
Receipts from storm reserve escrow account | 0 | 4 | 8,835 |
Changes in securitization account | (32) | (1,655) | 880 |
Payment For Proceed From Other Investing Activities | 2,369 | 0 | 0 |
Proceeds from nuclear decommissioning trust fund sales | 412,559 | 1,055,690 | 231,293 |
Investment in nuclear decommissioning trust funds | (442,501) | (1,097,204) | (266,592) |
Change in money pool receivable - net | 46,843 | (35,672) | 11,330 |
Proceeds from insurance | 7,040 | 3,480 | 5,305 |
Net cash flow used in investing activities | (1,653,634) | (1,878,208) | (1,787,409) |
Proceeds from the issuance of: | |||
Long-term debt | 2,691,133 | 2,319,799 | 733,344 |
Retirement of long-term debt | (2,199,053) | (1,664,354) | (407,736) |
Change in money pool payable - net | 82,826 | 0 | 0 |
Changes in credit borrowings and commercial paper - net | 0 | 43,540 | (39,746) |
Dividends paid: | |||
Common stock | (208,000) | (128,000) | (91,250) |
Other | 9,368 | 6,556 | (2,183) |
Net cash flow provided by financing activities | 376,274 | 490,461 | 271,921 |
Net increase (decrease) in cash and cash equivalents | (41,358) | 7,457 | (177,943) |
Cash and cash equivalents at beginning of period | 43,364 | 35,907 | 213,850 |
Cash and cash equivalents at end of period | 2,006 | 43,364 | 35,907 |
Cash paid (received) during the period for: | |||
Interest - net of amount capitalized | 296,842 | 272,335 | 266,871 |
Income taxes | 15,272 | (105,157) | (234,199) |
Entergy Mississippi [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income | 119,925 | 126,078 | 110,032 |
Adjustments to reconcile net income to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 170,886 | 152,577 | 143,479 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 32,547 | 56,502 | 84,816 |
Changes in working capital: | |||
Receivables | (17,245) | 37,762 | (29,528) |
Fuel inventory | (3,208) | 33,675 | 5,266 |
Accounts payable | (226) | (7,472) | 3,595 |
Taxes accrued | 13,109 | (5,291) | 18,803 |
Interest accrued | (1,331) | (2,670) | 1,248 |
Deferred fuel costs | 78,418 | 24,428 | (25,487) |
Other working capital accounts | (5,557) | (9,902) | 5,115 |
Changes in provisions for estimated losses | (1,121) | 6,378 | (9,676) |
Increase (Decrease) in Other Regulatory Assets | 34,923 | (54,860) | 17,412 |
Increase (Decrease) in Regulatory Liabilities | (21,524) | (131,856) | 405,395 |
Deferred tax rate change recognized as regulatory liability/asset | 0 | 0 | (452,429) |
Changes in pensions and other postretirement liabilities | 6,534 | (8,405) | (8,055) |
Other | (3,668) | (91,718) | 8,577 |
Net cash flow provided by operating activities | 339,952 | 418,382 | 226,585 |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (432,600) | (387,293) | (427,616) |
Allowance for equity funds used during construction | 8,356 | 8,710 | 9,667 |
Payments for (Proceeds from) Productive Assets | (305,472) | 0 | (6,958) |
Decrease (increase) in other investments | (655) | (1,123) | (1,281) |
Change in money pool receivable - net | (3,313) | (39,747) | 8,962 |
Net cash flow used in investing activities | (733,684) | (419,453) | (417,226) |
Proceeds from the issuance of: | |||
Long-term debt | 437,153 | 54,449 | 148,185 |
Retirement of long-term debt | (150,000) | 0 | 0 |
Proceeds from Contributions from Parent | 130,000 | 0 | 0 |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | (21,208) | 0 |
Dividends paid: | |||
Common stock | 0 | (10,000) | (26,000) |
Preferred stock | 0 | (993) | (953) |
Other | (8,774) | 9,681 | (1,329) |
Net cash flow provided by financing activities | 408,379 | 31,929 | 119,903 |
Net increase (decrease) in cash and cash equivalents | 14,647 | 30,858 | (70,738) |
Cash and cash equivalents at beginning of period | 36,954 | 6,096 | 76,834 |
Cash and cash equivalents at end of period | 51,601 | 36,954 | 6,096 |
Cash paid (received) during the period for: | |||
Interest - net of amount capitalized | 60,533 | 56,037 | 47,631 |
Income taxes | (12,204) | (19,118) | (25,043) |
Entergy New Orleans [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income | 52,629 | 53,152 | 44,553 |
Adjustments to reconcile net income to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 56,072 | 55,930 | 52,945 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 21,350 | 24,548 | 64,036 |
Changes in working capital: | |||
Receivables | (9,372) | 15,724 | (18,058) |
Fuel inventory | (387) | 357 | (49) |
Accounts payable | (5,571) | (385) | 1,874 |
Taxes accrued | 234 | 30,547 | (22,100) |
Interest accrued | 550 | 879 | 44 |
Deferred fuel costs | 3,630 | (6,486) | 12,592 |
Other working capital accounts | 5,021 | 4,146 | (2,711) |
Changes in provisions for estimated losses | 1,948 | 1,511 | (3,430) |
Increase (Decrease) in Other Regulatory Assets | 29,567 | (21,637) | (16,673) |
Increase (Decrease) in Regulatory Liabilities | (22,105) | (28,459) | 110,147 |
Deferred tax rate change recognized as regulatory liability/asset | 0 | 0 | (111,170) |
Changes in pensions and other postretirement liabilities | (14,624) | (15,134) | (15,994) |
Other | (55,796) | (13,811) | 1,555 |
Net cash flow provided by operating activities | 115,604 | 171,778 | 127,797 |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (229,560) | (202,186) | (115,584) |
Allowance for equity funds used during construction | 9,941 | 5,941 | 2,418 |
Payments To Storm Reserve Escrow Account | (1,752) | (1,311) | (597) |
Receipts from storm reserve escrow account | 0 | 3 | 2,488 |
Changes in securitization account | 236 | (770) | 283 |
Change in money pool receivable - net | 16,825 | (9,293) | 1,492 |
Net cash flow used in investing activities | (204,310) | (207,616) | (109,500) |
Proceeds from the issuance of: | |||
Long-term debt | 113,876 | 59,234 | 0 |
Retirement of long-term debt | (35,376) | (11,042) | (10,600) |
Repayment of long-term payable due to Entergy Louisiana | (1,979) | (2,077) | (2,104) |
Proceeds from Contributions from Parent | 0 | 0 | 20,000 |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | (20,599) |
Dividends paid: | |||
Common stock | 0 | (23,750) | (74,250) |
Preferred stock | 0 | 0 | (1,083) |
Other | (1,475) | 409 | 12 |
Net cash flow provided by financing activities | 75,046 | 22,774 | (88,624) |
Net increase (decrease) in cash and cash equivalents | (13,660) | (13,064) | (70,327) |
Cash and cash equivalents at beginning of period | 19,677 | 32,741 | 103,068 |
Cash and cash equivalents at end of period | 6,017 | 19,677 | 32,741 |
Cash paid (received) during the period for: | |||
Interest - net of amount capitalized | 22,873 | 19,840 | 20,180 |
Income taxes | (5,310) | (39,781) | (8,660) |
Entergy Texas [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income | 159,397 | 162,235 | 76,173 |
Adjustments to reconcile net income to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 153,286 | 128,534 | 117,520 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 20,143 | (39,545) | 42,119 |
Changes in working capital: | |||
Receivables | 58,445 | (17,099) | (15,934) |
Fuel inventory | (4,926) | 64 | (25,054) |
Accounts payable | (33,646) | 43,319 | 32,842 |
Taxes accrued | (3,805) | 7,854 | 30,308 |
Interest accrued | (5,363) | (1,201) | (421) |
Deferred fuel costs | (6,696) | (47,604) | 12,758 |
Other working capital accounts | (13,822) | 1,328 | (7,852) |
Changes in provisions for estimated losses | (5,748) | 3,741 | 2,531 |
Increase (Decrease) in Other Regulatory Assets | (85,400) | (63,350) | (184,574) |
Increase (Decrease) in Regulatory Liabilities | (105,517) | (19,336) | 410,968 |
Deferred tax rate change recognized as regulatory liability/asset | 0 | 0 | (520,547) |
Changes in pensions and other postretirement liabilities | (7,152) | (13,135) | (49,445) |
Other | 3,257 | (59,248) | (10,856) |
Net cash flow provided by operating activities | 286,739 | 331,753 | 301,396 |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (898,090) | (451,988) | (348,027) |
Allowance for equity funds used during construction | 28,526 | 9,861 | 6,874 |
Proceeds from sale of assets | 0 | 3,753 | 0 |
Changes in securitization account | 2,465 | (2,502) | (232) |
Change in money pool receivable - net | (11,181) | 44,903 | (44,222) |
Proceeds from insurance | 0 | 0 | 2,431 |
Net cash flow used in investing activities | (878,280) | (395,973) | (383,176) |
Proceeds from the issuance of: | |||
Long-term debt | 986,019 | 0 | 148,277 |
Retirement of long-term debt | (578,593) | (74,950) | (71,683) |
Proceeds from Contributions from Parent | 185,000 | 0 | 115,000 |
Proceeds from Issuance of Preferred Stock and Preference Stock | 33,188 | 0 | 0 |
Change in money pool payable - net | (22,389) | 22,389 | 0 |
Dividends paid: | |||
Other | 1,189 | 1,324 | (482) |
Net cash flow provided by financing activities | 604,414 | (51,237) | 191,112 |
Net increase (decrease) in cash and cash equivalents | 12,873 | (115,457) | 109,332 |
Cash and cash equivalents at beginning of period | 56 | 115,513 | 6,181 |
Cash and cash equivalents at end of period | 12,929 | 56 | 115,513 |
Cash paid (received) during the period for: | |||
Interest - net of amount capitalized | 89,402 | 85,719 | 84,556 |
Income taxes | 17,010 | 20,787 | (21,107) |
System Energy [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income | 99,120 | 94,109 | 78,596 |
Adjustments to reconcile net income to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 212,170 | 186,719 | 240,962 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 95 | 24,040 | 7,827 |
Changes in working capital: | |||
Receivables | (23,382) | 18,169 | 9,210 |
Accounts payable | 18,204 | (7,067) | 15,969 |
Taxes accrued | 19,247 | (51,999) | 62,466 |
Interest accrued | (1,302) | (94) | (660) |
Other working capital accounts | 15,879 | (45,415) | 12,083 |
Increase (Decrease) in Other Regulatory Assets | 43,712 | 2,044 | (60,012) |
Increase (Decrease) in Regulatory Liabilities | 130,949 | (156,802) | 331,251 |
Deferred tax rate change recognized as regulatory liability/asset | 0 | 0 | (325,707) |
Changes in pensions and other postretirement liabilities | 11,177 | (23,235) | 4,024 |
Other | 138,304 | (64,947) | 124,755 |
Net cash flow provided by operating activities | 300,141 | 101,328 | 371,278 |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (166,695) | (194,696) | (91,705) |
Allowance for equity funds used during construction | 8,709 | 8,750 | 6,345 |
Nuclear fuel purchases | (18,170) | (125,272) | (49,728) |
Proceeds from sale of nuclear fuel | 26,223 | 30,634 | 69,516 |
Proceeds from nuclear decommissioning trust fund sales | 500,384 | 573,561 | 565,416 |
Investment in nuclear decommissioning trust funds | (517,828) | (583,683) | (596,236) |
Change in money pool receivable - net | 47,824 | 4,545 | (77,858) |
Net cash flow used in investing activities | (119,553) | (286,161) | (174,250) |
Proceeds from the issuance of: | |||
Long-term debt | 1,103,917 | 741,785 | 150,100 |
Retirement of long-term debt | (1,187,406) | (662,904) | (150,103) |
Changes in credit borrowings and commercial paper - net | 0 | 17,830 | 49,063 |
Dividends paid: | |||
Common stock | (124,250) | (67,720) | (106,610) |
Other | 0 | 0 | (28) |
Net cash flow provided by financing activities | (207,739) | (6,669) | (155,704) |
Net increase (decrease) in cash and cash equivalents | (27,151) | (191,502) | 41,324 |
Cash and cash equivalents at beginning of period | 95,685 | 287,187 | 245,863 |
Cash and cash equivalents at end of period | 68,534 | 95,685 | 287,187 |
Cash paid (received) during the period for: | |||
Interest - net of amount capitalized | 21,052 | 17,183 | 26,251 |
Income taxes | $ 2,284 | $ 53,956 | $ (2,227) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents: | ||||
Cash | $ 34,242 | $ 56,690 | ||
Temporary cash investments | 391,480 | 424,285 | ||
Total cash and cash equivalents | 425,722 | 480,975 | $ 781,273 | $ 1,187,844 |
Accounts receivable: | ||||
Customer | 595,509 | 558,494 | ||
Allowance for doubtful accounts | (7,404) | (7,322) | ||
Other | 219,870 | 167,722 | ||
Accrued unbilled revenues | 400,617 | 395,511 | ||
Total accounts receivable | 1,208,592 | 1,114,405 | ||
Deferred fuel costs | 0 | 27,251 | ||
Fuel inventory - at average cost | 145,476 | 117,304 | ||
Public Utilities, Inventory | 824,989 | 752,843 | ||
Deferred nuclear refueling outage costs | 157,568 | 230,960 | ||
Prepayments and other | 283,645 | 234,326 | ||
TOTAL | 3,045,992 | 2,958,064 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Decommissioning trust funds | 6,404,030 | 6,920,164 | ||
Non-utility property - at cost (less accumulated depreciation) | 332,864 | 304,382 | ||
Other | 496,452 | 437,265 | ||
TOTAL | 7,233,346 | 7,661,811 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 54,271,467 | 49,831,486 | ||
Natural gas | 547,110 | 496,150 | ||
Construction work in progress | 2,823,291 | 2,888,639 | ||
Nuclear fuel | 677,181 | 861,272 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 58,319,049 | 54,077,547 | ||
Less - accumulated depreciation and amortization | 23,136,356 | 22,103,101 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 35,182,693 | 31,974,446 | ||
Regulatory assets: | ||||
Regulatory Assets, Noncurrent | 5,292,055 | 4,746,496 | ||
Deferred Fuel Cost Non Current | 239,892 | 239,496 | ||
Goodwill | 377,172 | 377,172 | ||
Deferred Income Tax Assets, Net | 64,461 | 54,593 | ||
Other | 288,301 | 262,988 | ||
Deferred Costs and Other Assets | 6,261,881 | 5,680,745 | ||
TOTAL ASSETS | 51,723,912 | 48,275,066 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 795,012 | 650,009 | ||
Short-term borrowings | 1,946,727 | 1,942,339 | ||
Accounts payable | 1,499,861 | 1,496,058 | ||
Customer deposits | 409,171 | 411,505 | ||
Taxes accrued | 233,455 | 254,241 | ||
Interest accrued | 194,129 | 193,192 | ||
Deferred fuel costs | 197,687 | 52,396 | ||
Pension and other postretirement liabilities | 66,184 | 61,240 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 76,457 | 248,127 | ||
Other | 201,780 | 134,437 | ||
TOTAL | 5,620,463 | 5,443,544 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 4,401,190 | 4,107,152 | ||
Accumulated deferred investment tax credits | 207,113 | 213,101 | ||
Regulatory liability for income taxes - net | 1,633,159 | 1,817,021 | ||
Other regulatory liabilities | 1,961,005 | 1,620,254 | ||
Decommissioning trust fund | 6,159,212 | 6,355,543 | ||
Loss Contingency Accrual | 534,028 | 514,107 | ||
Pension and other postretirement liabilities | 2,798,265 | 2,616,085 | ||
Long-term debt | 17,078,643 | 15,518,303 | ||
Deferred Credits and Other Liabilities | 852,749 | 1,006,249 | ||
TOTAL | 35,625,364 | 33,767,815 | ||
Commitments and Contingencies | ||||
Subsidiaries’ preferred stock without sinking fund | 219,410 | 219,402 | ||
EQUITY | ||||
Common stock | 2,700 | 2,616 | ||
Additional Paid in Capital, Common Stock | 6,564,436 | 5,951,431 | ||
Retained Earnings (Accumulated Deficit) | 9,257,609 | 8,721,150 | ||
Accumulated other comprehensive loss | (446,920) | (557,173) | (23,531) | |
Less - treasury stock, at cost (76,681,936 shares in 2013 and 76,945,239 shares in 2012) | 5,154,150 | 5,273,719 | ||
Total common shareholders' equity | 10,223,675 | 8,844,305 | 7,992,515 | 8,081,809 |
Total common shareholders' equity | 10,258,675 | 8,844,305 | ||
Stockholders' Equity Attributable to Noncontrolling Interest | 35,000 | 0 | ||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 51,723,912 | 48,275,066 | ||
Entergy New Orleans [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 26 | 26 | ||
Temporary cash investments | 5,991 | 19,651 | ||
Total cash and cash equivalents | 6,017 | 19,677 | 32,741 | 103,068 |
Restricted Investments, Current | 1,989 | 2,224 | ||
Accounts receivable: | ||||
Customer | 48,265 | 43,890 | ||
Allowance for doubtful accounts | (3,226) | (3,222) | ||
Associated companies | 6,280 | 27,938 | ||
Other | 7,378 | 4,090 | ||
Accrued unbilled revenues | 25,453 | 18,907 | ||
Total accounts receivable | 84,150 | 91,603 | ||
Fuel inventory - at average cost | 1,920 | 1,533 | ||
Public Utilities, Inventory | 13,522 | 12,133 | ||
Prepayments and other | 4,846 | 6,905 | ||
TOTAL | 112,444 | 134,075 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Non-utility property - at cost (less accumulated depreciation) | 1,016 | 1,016 | ||
Storm reserve escrow account | 82,605 | 80,853 | ||
TOTAL | 83,621 | 81,869 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 1,467,215 | 1,364,091 | ||
Natural gas | 311,432 | 284,728 | ||
Construction work in progress | 201,829 | 146,668 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 1,980,476 | 1,795,487 | ||
Less - accumulated depreciation and amortization | 715,406 | 670,135 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 1,265,070 | 1,125,352 | ||
Regulatory assets: | ||||
Regulatory Assets, Noncurrent | 259,363 | 229,796 | ||
Deferred Fuel Cost Non Current | 4,080 | 4,080 | ||
Other | 10,720 | 1,416 | ||
Deferred Costs and Other Assets | 274,163 | 235,292 | ||
TOTAL ASSETS | 1,735,298 | 1,576,588 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 25,000 | 0 | ||
Notes Payable, Related Parties, Current | 1,838 | 1,979 | ||
Associated companies accounts payable | 43,222 | 43,416 | ||
Accounts payable | 43,963 | 36,686 | ||
Customer deposits | 28,493 | 28,667 | ||
Taxes accrued | 4,302 | 4,068 | ||
Interest accrued | 6,916 | 6,366 | ||
Deferred fuel costs | 4,918 | 1,288 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 9,470 | 25,301 | ||
Other | 15,827 | 9,521 | ||
TOTAL | 183,949 | 157,292 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 354,536 | 323,595 | ||
Accumulated deferred investment tax credits | 2,131 | 2,219 | ||
Regulatory liability for income taxes - net | 49,090 | 60,249 | ||
Decommissioning trust fund | 3,522 | 3,291 | ||
Loss Contingency Accrual | 88,542 | 86,594 | ||
Long-term debt | 521,539 | 467,358 | ||
Notes Payable, Related Parties, Noncurrent | 12,529 | 14,367 | ||
Deferred Credits and Other Liabilities | 21,881 | 16,673 | ||
TOTAL | 1,053,770 | 974,346 | ||
Commitments and Contingencies | ||||
EQUITY | ||||
Members' Equity | 497,579 | 444,950 | ||
Total common shareholders' equity | 497,579 | 444,950 | 415,548 | 426,946 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 1,735,298 | 1,576,588 | ||
Entergy Louisiana [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 488 | 252 | ||
Temporary cash investments | 1,518 | 43,112 | ||
Total cash and cash equivalents | 2,006 | 43,364 | 35,907 | 213,850 |
Accounts receivable: | ||||
Customer | 194,869 | 199,903 | ||
Allowance for doubtful accounts | (1,902) | (1,813) | ||
Associated companies | 77,212 | 123,363 | ||
Other | 42,179 | 60,879 | ||
Accrued unbilled revenues | 169,201 | 167,052 | ||
Total accounts receivable | 481,559 | 549,384 | ||
Fuel inventory - at average cost | 41,613 | 34,418 | ||
Public Utilities, Inventory | 354,020 | 324,627 | ||
Deferred nuclear refueling outage costs | 56,743 | 24,406 | ||
Prepaid taxes | 7,959 | 0 | ||
Prepayments and other | 37,837 | 38,715 | ||
TOTAL | 981,737 | 1,014,914 | ||
Investments in and Advances to Affiliates, at Fair Value | 1,390,587 | 1,390,587 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Decommissioning trust funds | 1,563,812 | 1,284,996 | ||
Non-utility property - at cost (less accumulated depreciation) | 312,896 | 286,555 | ||
Storm reserve escrow account | 295,875 | 289,525 | ||
Other | 13,476 | 14,927 | ||
TOTAL | 3,576,646 | 3,266,590 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 22,620,365 | 20,532,312 | ||
Natural gas | 235,678 | 211,421 | ||
Construction work in progress | 1,383,603 | 1,864,582 | ||
Nuclear fuel | 267,779 | 298,022 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 24,507,425 | 22,906,337 | ||
Less - accumulated depreciation and amortization | 9,118,524 | 8,837,596 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 15,388,901 | 14,068,741 | ||
Regulatory assets: | ||||
Regulatory Assets, Noncurrent | 1,315,211 | 1,105,077 | ||
Deferred Fuel Cost Non Current | 168,122 | 168,122 | ||
Other | 33,491 | 28,371 | ||
Deferred Costs and Other Assets | 1,516,824 | 1,301,570 | ||
TOTAL ASSETS | 21,464,108 | 19,651,815 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 320,002 | 2 | ||
Associated companies accounts payable | 187,615 | 102,749 | ||
Accounts payable | 357,206 | 390,367 | ||
Customer deposits | 153,097 | 155,314 | ||
Taxes accrued | 0 | 30,868 | ||
Interest accrued | 87,744 | 83,450 | ||
Deferred fuel costs | 55,645 | 31,411 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 31,138 | 31,457 | ||
Other | 64,668 | 49,202 | ||
TOTAL | 1,257,115 | 874,820 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 2,464,513 | 2,226,721 | ||
Accumulated deferred investment tax credits | 112,128 | 116,999 | ||
Regulatory liability for income taxes - net | 500,083 | 581,001 | ||
Other regulatory liabilities | 794,140 | 748,784 | ||
Decommissioning trust fund | 1,497,349 | 1,280,272 | ||
Loss Contingency Accrual | 320,419 | 310,755 | ||
Pension and other postretirement liabilities | 677,619 | 643,171 | ||
Long-term debt | 6,983,667 | 6,805,766 | ||
Deferred Credits and Other Liabilities | 459,957 | 160,608 | ||
TOTAL | 13,809,875 | 12,874,077 | ||
Commitments and Contingencies | ||||
EQUITY | ||||
Accumulated other comprehensive loss | 4,562 | (6,153) | ||
Members' Equity | 6,392,556 | 5,909,071 | ||
Total common shareholders' equity | 6,397,118 | 5,902,918 | 5,308,804 | 5,081,809 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 21,464,108 | 19,651,815 | ||
Entergy Arkansas [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 3,519 | 118 | ||
Temporary cash investments | 0 | 1 | ||
Total cash and cash equivalents | 3,519 | 119 | 6,216 | 20,509 |
Restricted Investments, Current | 4,036 | 4,666 | ||
Accounts receivable: | ||||
Customer | 117,679 | 94,348 | ||
Allowance for doubtful accounts | (1,169) | (1,264) | ||
Associated companies | 29,178 | 48,184 | ||
Other | 117,653 | 64,393 | ||
Accrued unbilled revenues | 108,489 | 108,092 | ||
Total accounts receivable | 371,830 | 313,753 | ||
Deferred fuel costs | 0 | 19,235 | ||
Fuel inventory - at average cost | 33,745 | 23,148 | ||
Public Utilities, Inventory | 211,320 | 196,314 | ||
Deferred nuclear refueling outage costs | 48,875 | 78,966 | ||
Prepayments and other | 14,096 | 14,553 | ||
TOTAL | 687,421 | 650,754 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Decommissioning trust funds | 1,101,283 | 912,049 | ||
Other | 345 | 5,480 | ||
TOTAL | 1,101,628 | 917,529 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 12,293,483 | 11,611,041 | ||
Construction work in progress | 197,775 | 243,731 | ||
Nuclear fuel | 195,547 | 220,602 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 12,686,805 | 12,075,374 | ||
Less - accumulated depreciation and amortization | 5,019,826 | 4,864,818 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 7,666,979 | 7,210,556 | ||
Regulatory assets: | ||||
Regulatory Assets, Noncurrent | 1,666,850 | 1,534,977 | ||
Deferred Fuel Cost Non Current | 67,690 | 67,294 | ||
Other | 15,065 | 20,486 | ||
Deferred Costs and Other Assets | 1,749,605 | 1,622,757 | ||
TOTAL ASSETS | 11,205,633 | 10,401,596 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 0 | 0 | ||
Associated companies accounts payable | 111,785 | 251,768 | ||
Accounts payable | 202,201 | 187,387 | ||
Customer deposits | 101,411 | 99,053 | ||
Taxes accrued | 81,831 | 56,889 | ||
Interest accrued | 22,788 | 18,893 | ||
Deferred fuel costs | 53,721 | 0 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 9,296 | 99,316 | ||
Other | 38,760 | 23,943 | ||
TOTAL | 621,793 | 737,249 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 1,183,126 | 1,085,545 | ||
Accumulated deferred investment tax credits | 31,701 | 32,903 | ||
Regulatory liability for income taxes - net | 478,174 | 505,748 | ||
Other regulatory liabilities | 559,555 | 402,668 | ||
Decommissioning trust fund | 1,242,616 | 1,048,428 | ||
Loss Contingency Accrual | 63,880 | 48,979 | ||
Pension and other postretirement liabilities | 319,075 | 313,295 | ||
Long-term debt | 3,517,208 | 3,225,759 | ||
Deferred Credits and Other Liabilities | 62,568 | 17,919 | ||
TOTAL | 7,457,903 | 6,681,244 | ||
Commitments and Contingencies | ||||
EQUITY | ||||
Members' Equity | 3,125,937 | 2,983,103 | ||
Total common shareholders' equity | 3,125,937 | 2,983,103 | 2,376,754 | 2,253,317 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 11,205,633 | 10,401,596 | ||
Entergy Mississippi [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 11 | 11 | ||
Temporary cash investments | 51,590 | 36,943 | ||
Total cash and cash equivalents | 51,601 | 36,954 | 6,096 | 76,834 |
Accounts receivable: | ||||
Customer | 92,050 | 73,205 | ||
Allowance for doubtful accounts | (636) | (563) | ||
Associated companies | 49,257 | 51,065 | ||
Other | 14,986 | 8,647 | ||
Accrued unbilled revenues | 47,426 | 50,171 | ||
Total accounts receivable | 203,083 | 182,525 | ||
Deferred fuel costs | 0 | 8,016 | ||
Fuel inventory - at average cost | 15,139 | 11,931 | ||
Public Utilities, Inventory | 57,972 | 47,255 | ||
Prepayments and other | 7,149 | 9,365 | ||
TOTAL | 334,944 | 296,046 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Non-utility property - at cost (less accumulated depreciation) | 4,560 | 4,576 | ||
Escrow accounts | 80,201 | 32,447 | ||
TOTAL | 84,761 | 37,023 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 5,672,589 | 4,780,720 | ||
Construction work in progress | 88,373 | 128,149 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 5,760,962 | 4,908,869 | ||
Less - accumulated depreciation and amortization | 1,894,000 | 1,641,821 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 3,866,962 | 3,267,048 | ||
Regulatory assets: | ||||
Regulatory Assets, Noncurrent | 377,972 | 343,049 | ||
Other | 10,105 | 3,638 | ||
Deferred Costs and Other Assets | 388,077 | 346,687 | ||
TOTAL ASSETS | 4,674,744 | 3,946,804 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 0 | 150,000 | ||
Associated companies accounts payable | 48,090 | 42,928 | ||
Accounts payable | 94,729 | 79,117 | ||
Customer deposits | 85,938 | 85,085 | ||
Taxes accrued | 90,661 | 77,552 | ||
Interest accrued | 18,900 | 20,231 | ||
Deferred fuel costs | 70,402 | 0 | ||
Other | 32,667 | 7,526 | ||
TOTAL | 441,387 | 462,439 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 594,832 | 551,869 | ||
Accumulated deferred investment tax credits | 9,602 | 10,186 | ||
Regulatory liability for income taxes - net | 236,988 | 246,402 | ||
Other regulatory liabilities | 21,512 | 33,622 | ||
Decommissioning trust fund | 9,727 | 9,206 | ||
Loss Contingency Accrual | 50,021 | 51,142 | ||
Pension and other postretirement liabilities | 99,406 | 93,100 | ||
Long-term debt | 1,614,129 | 1,175,750 | ||
Deferred Credits and Other Liabilities | 54,989 | 20,862 | ||
TOTAL | 2,691,206 | 2,192,139 | ||
Commitments and Contingencies | ||||
EQUITY | ||||
Members' Equity | 1,542,151 | 1,292,226 | ||
Total common shareholders' equity | 1,542,151 | 1,292,226 | 1,177,870 | 1,094,791 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 4,674,744 | 3,946,804 | ||
Entergy Texas [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 25 | 26 | ||
Temporary cash investments | 12,904 | 30 | ||
Total cash and cash equivalents | 12,929 | 56 | 115,513 | 6,181 |
Restricted Investments, Current | 37,720 | 40,185 | ||
Accounts receivable: | ||||
Customer | 59,365 | 69,714 | ||
Allowance for doubtful accounts | (471) | (461) | ||
Associated companies | 24,001 | 64,441 | ||
Other | 17,050 | 12,275 | ||
Accrued unbilled revenues | 50,048 | 51,288 | ||
Total accounts receivable | 149,993 | 197,257 | ||
Fuel inventory - at average cost | 47,593 | 42,667 | ||
Public Utilities, Inventory | 46,056 | 41,883 | ||
Prepayments and other | 21,012 | 15,903 | ||
TOTAL | 315,303 | 337,951 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Investment in affiliates - at equity | 396 | 448 | ||
Non-utility property - at cost (less accumulated depreciation) | 376 | 376 | ||
Other | 20,077 | 19,218 | ||
TOTAL | 20,849 | 20,042 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 5,199,027 | 4,773,984 | ||
Construction work in progress | 760,354 | 325,193 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 5,959,381 | 5,099,177 | ||
Less - accumulated depreciation and amortization | 1,770,852 | 1,684,569 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 4,188,529 | 3,414,608 | ||
Regulatory assets: | ||||
Regulatory Assets, Noncurrent | 512,648 | 598,048 | ||
Other | 33,393 | 29,371 | ||
Deferred Costs and Other Assets | 546,041 | 627,419 | ||
TOTAL ASSETS | 5,070,722 | 4,400,020 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 0 | 500,000 | ||
Associated companies accounts payable | 58,055 | 119,371 | ||
Accounts payable | 188,460 | 150,679 | ||
Customer deposits | 40,232 | 43,387 | ||
Taxes accrued | 49,708 | 53,513 | ||
Interest accrued | 18,992 | 24,355 | ||
Deferred fuel costs | 13,001 | 19,697 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 26,552 | 87,627 | ||
Other | 10,521 | 6,353 | ||
TOTAL | 405,521 | 1,004,982 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 585,413 | 552,535 | ||
Accumulated deferred investment tax credits | 10,559 | 11,176 | ||
Regulatory liability for income taxes - net | 225,980 | 264,623 | ||
Other regulatory liabilities | 42,085 | 47,884 | ||
Decommissioning trust fund | 7,631 | 7,222 | ||
Loss Contingency Accrual | 8,108 | 13,856 | ||
Long-term debt | 1,922,956 | 1,013,735 | ||
Deferred Credits and Other Liabilities | 63,062 | 61,605 | ||
TOTAL | 2,865,794 | 1,972,636 | ||
Commitments and Contingencies | ||||
Subsidiaries’ preferred stock without sinking fund | 35,000 | 0 | ||
EQUITY | ||||
Common stock | 49,452 | 49,452 | ||
Additional Paid in Capital, Common Stock | 780,182 | 596,994 | ||
Retained Earnings (Accumulated Deficit) | 934,773 | 775,956 | ||
Total common shareholders' equity | 1,764,407 | 1,422,402 | ||
Total common shareholders' equity | 1,799,407 | 1,422,402 | 1,260,167 | 1,068,994 |
Stockholders' Equity Attributable to Noncontrolling Interest | 35,000 | 0 | ||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 5,070,722 | 4,400,020 | ||
System Energy [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 93 | 68 | ||
Temporary cash investments | 68,441 | 95,617 | ||
Total cash and cash equivalents | 68,534 | 95,685 | 287,187 | 245,863 |
Accounts receivable: | ||||
Associated companies | 121,972 | 148,571 | ||
Other | 7,547 | 5,390 | ||
Total accounts receivable | 129,519 | 153,961 | ||
Public Utilities, Inventory | 108,766 | 97,225 | ||
Deferred nuclear refueling outage costs | 14,493 | 44,424 | ||
Prepaid taxes | 0 | 5,415 | ||
Prepayments and other | 6,045 | 2,985 | ||
TOTAL | 327,357 | 399,695 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Decommissioning trust funds | 1,054,098 | 869,543 | ||
TOTAL | 1,054,098 | 869,543 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 5,070,859 | 5,036,116 | ||
Construction work in progress | 164,996 | 70,156 | ||
Nuclear fuel | 149,574 | 234,889 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 5,385,429 | 5,341,161 | ||
Less - accumulated depreciation and amortization | 3,285,487 | 3,212,080 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 2,099,942 | 2,129,081 | ||
Regulatory assets: | ||||
Regulatory Assets, Noncurrent | 490,083 | 446,371 | ||
Deferred Income Tax Assets, Net | 8,023 | 0 | ||
Other | 3,192 | 4,124 | ||
Deferred Costs and Other Assets | 501,298 | 450,495 | ||
TOTAL ASSETS | 3,982,695 | 3,848,814 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 10 | 6 | ||
Associated companies accounts payable | 14,619 | 11,031 | ||
Accounts payable | 64,144 | 47,565 | ||
Taxes accrued | 13,832 | 0 | ||
Interest accrued | 11,993 | 13,295 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 0 | 4,426 | ||
Other | 3,381 | 2,832 | ||
TOTAL | 107,979 | 79,155 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 821,963 | 805,296 | ||
Accumulated deferred investment tax credits | 40,181 | 38,673 | ||
Regulatory liability for income taxes - net | 142,845 | 158,998 | ||
Other regulatory liabilities | 533,415 | 381,887 | ||
Decommissioning trust fund | 931,729 | 896,000 | ||
Pension and other postretirement liabilities | 109,816 | 98,639 | ||
Long-term debt | 548,097 | 630,744 | ||
Deferred Credits and Other Liabilities | 34,602 | 22,224 | ||
TOTAL | 3,162,648 | 3,032,461 | ||
Commitments and Contingencies | ||||
EQUITY | ||||
Common stock | 601,850 | 601,850 | ||
Retained Earnings (Accumulated Deficit) | 110,218 | 135,348 | ||
Total common shareholders' equity | 712,068 | 737,198 | $ 710,809 | $ 738,823 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 3,982,695 | $ 3,848,814 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securitization property | $ 239,219 | $ 360,790 |
Securitization bonds | $ 297,981 | $ 423,858 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 270,035,180 | 261,587,009 |
Treasury stock, shares | 70,886,400 | 72,530,866 |
Entergy Arkansas [Member] | ||
Securitization property | $ 1,706 | $ 14,329 |
Securitization bonds | 6,772 | 20,898 |
Entergy Louisiana [Member] | ||
Securitization property | 27,596 | 49,753 |
Securitization bonds | 33,220 | 55,682 |
Entergy New Orleans [Member] | ||
Securitization property | 49,542 | 60,453 |
Securitization bonds | 52,641 | 63,620 |
Entergy Texas [Member] | ||
Securitization property | 160,375 | 236,336 |
Securitization bonds | $ 205,349 | $ 283,659 |
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 Louisiana [Member] | Entergy Louisiana [Member]Member's Equity [Member] | Entergy Louisiana [Member]Accumulated Other Comprehensive Income [Member] | Entergy Mississippi [Member] | Entergy New Orleans [Member] | Entergy Texas [Member] | Entergy Texas [Member]Subsidiaries' Preferred Stock [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] |
Stockholders' Equity Attributable to Parent | $ 8,081,809 | $ 0 | $ 2,548 | $ (5,498,584) | $ 5,417,245 | $ 8,195,571 | $ (34,971) | ||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 2,253,317 | $ 5,081,809 | $ 5,130,251 | $ (48,442) | $ 1,094,791 | $ 426,946 | $ 1,068,994 | $ 0 | $ 49,452 | $ 481,994 | $ 537,548 | $ 738,823 | $ 679,350 | $ 59,473 | |||||||
Consolidated net income | 425,353 | 13,741 | 0 | 0 | 0 | 0 | 139,844 | 316,347 | 316,347 | 0 | 110,032 | 44,553 | 76,173 | 0 | 0 | 0 | 76,173 | 78,596 | 0 | 78,596 | |
Net Income (Loss) Attributable to Parent | 411,612 | 411,612 | |||||||||||||||||||
Proceeds from Contributions from Parent | 0 | 0 | 20,000 | 115,000 | 0 | 0 | 115,000 | 0 | |||||||||||||
Other comprehensive income (loss) | 11,440 | 0 | 0 | 0 | 0 | 0 | 11,440 | 2,042 | 0 | 2,042 | |||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | (20,599) | 0 | 0 | (20,599) | |||||||||||||||||
Common stock issuances related to stock plans | 117,135 | 0 | 0 | 100,947 | 16,188 | 0 | 0 | ||||||||||||||
Dividends, Common Stock, Cash | (628,885) | 0 | 0 | 0 | 0 | (628,885) | 0 | (15,000) | (91,250) | (91,250) | 0 | (26,000) | (74,250) | (106,610) | (21,000) | (85,610) | |||||
Preferred Stock Redemptions | 596 | 0 | 0 | 0 | 0 | 596 | 0 | ||||||||||||||
Other | 21 | (144) | (144) | 0 | (860) | ||||||||||||||||
Dividends, Preferred Stock, Cash | (13,741) | (13,741) | 0 | 0 | 0 | 0 | 0 | (1,428) | (953) | (841) | |||||||||||
Stockholders' Equity Attributable to Parent | 7,992,515 | 0 | 2,548 | (5,397,637) | 5,433,433 | 7,977,702 | (23,531) | ||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,376,754 | 5,308,804 | 5,355,204 | (46,400) | 1,177,870 | 415,548 | 1,260,167 | 0 | 49,452 | 596,994 | 613,721 | 710,809 | 658,350 | 52,459 | |||||||
Consolidated net income | 862,555 | 13,894 | 0 | 0 | 0 | 0 | 252,707 | 675,614 | 675,614 | 0 | 126,078 | 53,152 | 162,235 | 0 | 0 | 0 | 162,235 | 94,109 | 0 | 94,109 | |
Net Income (Loss) Attributable to Parent | 848,661 | 848,661 | |||||||||||||||||||
Proceeds from Contributions from Parent | 350,000 | 0 | 0 | 0 | |||||||||||||||||
Other comprehensive income (loss) | 83,470 | 0 | 0 | 0 | 0 | 0 | 83,470 | 50,296 | 0 | 50,296 | |||||||||||
Stock Issued During Period, Value, New Issues | 500,000 | 0 | 68 | 0 | 499,932 | 0 | 0 | ||||||||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | (728) | 0 | 0 | 0 | (728) | 0 | 0 | ||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | (53,868) | (32,660) | (21,208) | 0 | |||||||||||||||||
Noncash Capital Contribution from Parent | 94,335 | ||||||||||||||||||||
Common stock issuances related to stock plans | 142,712 | 0 | 0 | 123,918 | 18,794 | 0 | 0 | ||||||||||||||
Dividends, Common Stock, Cash | (647,704) | 0 | 0 | 0 | 0 | (647,704) | 0 | (91,751) | (128,000) | (128,000) | 0 | (10,000) | (23,750) | (67,720) | (56,500) | (11,220) | |||||
Preferred Stock Redemptions | 1,723 | 0 | 0 | 0 | 0 | 1,723 | 0 | ||||||||||||||
Other | 2,307 | (9) | (9) | 0 | (888) | ||||||||||||||||
Dividends, Preferred Stock, Cash | (13,894) | (13,894) | 0 | 0 | 0 | 0 | 0 | (1,249) | (834) | ||||||||||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | (16,538) | 0 | 0 | 0 | 0 | 32,043 | (15,505) | (3,787) | 6,262 | (10,049) | |||||||||||
Stockholders' Equity Attributable to Parent | 8,844,305 | 0 | 2,616 | (5,273,719) | 5,951,431 | 8,721,150 | (557,173) | 1,422,402 | |||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 8,844,305 | 2,983,103 | 5,902,918 | 5,909,071 | (6,153) | 1,292,226 | 444,950 | 1,422,402 | 0 | 49,452 | 596,994 | 775,956 | 737,198 | 601,850 | 135,348 | ||||||
Consolidated net income | 1,258,244 | 17,018 | 0 | 0 | 0 | 0 | 262,964 | 691,537 | 691,537 | 0 | 119,925 | 52,629 | 159,397 | 0 | 0 | 0 | 159,397 | 99,120 | 0 | 99,120 | |
Net Income (Loss) Attributable to Parent | 1,241,226 | 1,241,226 | |||||||||||||||||||
Proceeds from Contributions from Parent | 0 | 130,000 | 0 | 185,000 | 0 | 0 | 185,000 | 0 | |||||||||||||
Other comprehensive income (loss) | 117,059 | 0 | 0 | 0 | 0 | 0 | 117,059 | 10,715 | 0 | 10,715 | |||||||||||
Stock Issued During Period, Value, New Issues | 607,650 | 0 | 84 | 0 | 607,566 | 0 | 0 | 33,188 | 35,000 | 0 | (1,812) | 0 | |||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | (7) | 0 | 0 | 0 | (7) | 0 | 0 | ||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | (50,000) | 0 | 0 | 0 | |||||||||||||||||
Common stock issuances related to stock plans | 125,015 | 0 | 0 | 119,569 | 5,446 | 0 | 0 | ||||||||||||||
Dividends, Common Stock, Cash | (711,573) | 0 | 0 | 0 | 0 | (711,573) | 0 | (115,000) | (208,000) | (208,000) | 0 | (124,250) | 0 | (124,250) | |||||||
Preferred Stock Redemptions | 35,000 | 35,000 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Other | (5,130) | (52) | (52) | 0 | |||||||||||||||||
Dividends, Preferred Stock, Cash | (17,018) | (17,018) | 0 | 0 | 0 | 0 | 0 | (580) | 0 | 0 | 0 | (580) | |||||||||
Stockholders' Equity Attributable to Parent | 10,223,675 | $ 35,000 | $ 2,700 | $ (5,154,150) | $ 6,564,436 | $ 9,257,609 | $ (446,920) | 1,764,407 | |||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 10,258,675 | $ 3,125,937 | $ 6,397,118 | $ 6,392,556 | $ 4,562 | $ 1,542,151 | $ 497,579 | $ 1,799,407 | $ 35,000 | $ 49,452 | $ 780,182 | $ 934,773 | $ 712,068 | $ 601,850 | $ 110,218 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Equity (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Preferred dividends on subsidiaries' preferred stock | $ 17,018 | $ 13,894 | $ 13,741 |
Entergy Corporation [Member] | |||
Preferred dividends on subsidiaries' preferred stock | $ 16,500 | $ 13,900 | $ 13,700 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. 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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. 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, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC 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. New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. 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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. 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, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC 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. New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. 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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. 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, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC 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. New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. 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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. 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, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC 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. New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. 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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. 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, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC 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. New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. 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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. 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, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC 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. New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. 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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. 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, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. River Bend AFUDC 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. New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
Rate And Regulatory Matters
Rate And Regulatory Matters | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 and 2018 : Other Regulatory Assets Entergy 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,942.4 $2,611.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 920.4 814.3 Removal costs - recovered through depreciation rates (Note 9) 421.0 375.8 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 372.8 452.7 Retired electric and gas meters - recovered through retail rates as determined by retail regulators (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 205.6 — Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Unamortized loss on reacquired debt - recovered over term of debt 66.6 74.5 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 29.9 52.1 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 21.6 29.0 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 15.7 39.0 Other 150.3 157.7 Entergy Total $5,292.1 $4,746.5 Entergy Arkansas 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $796.5 $747.2 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 433.0 381.7 Removal costs - recovered through depreciation rates (Note 9) 168.9 138.3 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Retired electric meters - recovered over 15-year period through March 2034 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 50.4 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 46.1 60.7 Unamortized loss on reacquired debt - recovered over term of debt 18.3 21.2 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 10.9 12.6 Retail rate deferrals - recovered through rate riders as rates are redetermined annually (b) 2.3 20.5 Other 24.2 36.5 Entergy Arkansas Total $1,666.9 $1,535.0 Entergy Louisiana 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $787.7 $711.8 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 262.5 232.9 Retired electric meters - recovered over a 22-year period through July 2041 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 101.1 — Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 45.7 17.9 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 27.6 49.8 New nuclear generation development costs - recovery through formula rate plan December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 21.2 28.5 Unamortized loss on reacquired debt - recovered over term of debt 20.4 22.5 Business combination external costs deferral - recovery through formula rate plan December 2015 through November 2025 (b) 10.8 12.4 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 9.1 11.0 Other 29.1 18.3 Entergy Louisiana Total $1,315.2 $1,105.1 Entergy Mississippi 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $234.4 $215.9 Removal costs - recovered through depreciation rates (Note 9) 80.8 63.5 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 Unamortized loss on reacquired debt - recovered over term of debt 14.9 16.2 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.8 7.2 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 7.6 16.6 Other 3.0 — Entergy Mississippi Total $378.0 $343.0 Entergy New Orleans 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $85.9 $96.2 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 59.6 70.4 Removal costs - recovered through depreciation rates (Note 9) 52.9 49.3 Retired meters - recovered over a 12-year period through July 2031 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) (b) 24.6 — Retired plant costs - recovered over a 20-year period through July 2039 (Note 2 - Retail Rate Proceedings ) 10.0 — Rate case costs - recovered over a 3-year period through July 2022 (Note 2 - Retail Rate Proceedings ) 7.0 — Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.9 4.5 Algiers customer migration costs - recovered over a 5-year period through July 2024 (Note 2 - Retail Rate Proceedings ) 4.9 — Unamortized loss on reacquired debt - recovered over term of debt 2.3 2.6 Other 7.3 6.8 Entergy New Orleans Total $259.4 $229.8 Entergy Texas 2019 2018 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $221.4 $303.6 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 167.7 171.8 Removal costs - recovered through depreciation rates (Note 9) 42.5 50.9 Retired electric meters - recovered over 13-year period through February 2032 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 28.4 — Neches and Sabine costs - recovered over a 10-year period through September 2028 (Note 2 - Retail Rate Proceedings ) 21.2 23.6 Transition to competition costs - recovered over a 15-year period through February 2021 14.9 26.7 Unamortized loss on reacquired debt - recovered over term of debt 7.7 8.2 Other 8.8 13.2 Entergy Texas Total $512.6 $598.0 System Energy 2019 2018 (In Millions) Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) $210.9 $186.9 Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) 200.3 179.3 Removal costs - recovered through depreciation rates (Note 9) 75.9 76.4 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.8 System Energy Total $490.1 $446.4 (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 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $1,300.1 $815.9 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 62.3 84.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions ) 55.6 55.6 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 51.1 44.4 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.2 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Advanced metering system (AMS) surcharge - return to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 25.3 16.5 Excess decommissioning recovery for Willow Glen - (Note 14 - Dispositions ) 21.2 31.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Income tax rate change - returned to electric and gas customers through retail rates (Note 2 - Retail Rate Proceedings ) 13.9 74.7 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Other 36.6 28.2 Entergy Total $1,961.0 $1,620.3 Entergy Arkansas 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $460.3 $297.2 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 46.6 35.1 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 19.7 30.8 Entergy Arkansas Total $559.6 $402.7 Entergy Louisiana 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $436.5 $274.1 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.1 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Excess decommissioning recovery for Willow Glen - returned over one-year period through retail rates (Note 14 - Dispositions ) 21.2 31.9 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Income tax rate change - returned to electric customers through retail rates September 2018 through August 2019 (Note 2 - Retail Rate Proceedings ) — 49.9 Other 36.8 33.4 Entergy Louisiana Total $794.1 $748.8 Entergy Mississippi 2019 2018 (In Millions) Retail rate deferrals - returned to customers through rate riders as rates are redetermined annually $14.6 $1.3 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 4.5 9.3 Grand Gulf Over-Recovery - returned to customers through rate riders as rates are redetermined annually 2.4 22.6 Other — 0.4 Entergy Mississippi Total $21.5 $33.6 Entergy Texas 2019 2018 (In Millions) Advanced metering system (AMS) surcharge - returned to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) $25.3 $16.5 Income tax rate change - refunded through a rate rider (Note 2 - Retail Rate Proceedings ) 10.4 23.1 Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically 3.8 4.2 Other 2.6 4.1 Entergy Texas Total $42.1 $47.9 System Energy 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $403.3 $244.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions) 55.6 55.6 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Other 12.3 12.3 System Energy Total $533.4 $381.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the December 2017 enactment of the Tax Cuts and Jobs Act, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. Entergy Arkansas Consistent with its previously stated intent to return unprotected excess accumulated deferred income taxes to customers as expeditiously as possible, Entergy Arkansas initiated a tariff proceeding in February 2018 proposing to establish a tax adjustment rider to provide retail customers with certain tax benefits of $467 million associated with the Tax Act. For the residential customer class, unprotected excess accumulated deferred income taxes were returned to customers over a 21-month period from April 2018 through December 2019. For all other customer classes, unprotected excess accumulated deferred income taxes were returned to customers over a nine-month period from April 2018 through December 2018. A true-up provision also was included in the rider, with any over- or under-returned unprotected excess accumulated deferred income taxes credited or billed to customers during the billing month of January 2020, with any residual amounts of over- or under-returned unprotected excess accumulated deferred income taxes to be flowed through Entergy Arkansas’s energy cost recovery rider. In March 2018 the APSC approved the tax adjustment rider effective with the first billing cycle of April 2018. As discussed below, in July 2018, Entergy Arkansas made its formula rate plan filing to set its formula rate for the 2019 calendar year. A hearing was held in May 2018 regarding the APSC’s inquiries into the effects of the Tax Act, including Entergy Arkansas’s proposal to utilize its formula rate plan rider for its customers to realize the remaining benefits of the Tax Act. Entergy Arkansas’s formula rate plan rider included a netting adjustment that compared actual annual results to the allowed rate of return on common equity. In July 2018 the APSC issued an order agreeing with Entergy Arkansas’s proposal to have the effects of the Tax Act on current income tax expense flow through Entergy Arkansas’s formula rate plan rider and with Entergy Arkansas’s treatment of protected and unprotected excess accumulated deferred income taxes. The APSC also directed Entergy Arkansas to submit in the tax adjustment rider proceeding, discussed above, the adjustments to all other riders affected by the Tax Act and to include an amendment for a true up mechanism where a rider affected by the Tax Act does not already contain a true-up mechanism. Pursuant to a 2018 settlement agreement in Entergy Arkansas’s formula rate plan proceeding, Entergy Arkansas also removed the net operating loss accumulated deferred income tax asset caused by the Tax Act from Entergy Arkansas’s tax adjustment rider. Entergy Arkansas’s compliance tariff filings were accepted by the APSC in October 2018. Entergy Louisiana In an electric formula rate plan settlement approved by the LPSC in April 2018 the parties agreed that Entergy Louisiana would return to customers one-half of its eligible unprotected excess deferred income taxes from May 2018 through December 2018 and return to customers the other half from January 2019 through August 2022. In addition, the settlement provided that in order to flow back to customers certain other tax benefits created by the Tax Act, Entergy Louisiana established a regulatory liability effective January 1, 2018 in the amount of $9.1 million per month to reflect these tax benefits already included in retail rates until new base rates under the formula rate plan were established in September 2018, and this regulatory liability was returned to customers over the September 2018 through August 2019 formula rate plan rate-effective period. The LPSC staff and intervenors in the settlement reserved the right to obtain data from Entergy Louisiana to confirm the determination of excess accumulated deferred income taxes resulting from the Tax Act and the analysis thereof as part of the formula rate plan review proceeding for the 2017 test year filing which, as discussed below, Entergy Louisiana filed in June 2018. Entergy Mississippi Entergy Mississippi filed its 2018 formula rate plan in March 2018 and included a proposal to return all of its unprotected excess accumulated deferred income taxes to customers through rates or in exchange for other assets, or a combination of both, by the end of 2018. In June 2018 the MPSC approved a stipulation filed by Entergy Mississippi and the Mississippi Public Utilities Staff in Entergy Mississippi’s formula rate plan filing that addressed Entergy Mississippi’s 2018 formula rate plan evaluation report and the ratemaking effects of the Tax Act. The stipulation provided for incorporating the reduction of the statutory federal income tax rate through Entergy Mississippi’s formula rate plan. The stipulation approved in June 2018 provided for the flow-back of protected excess accumulated deferred income taxes over the remaining lives of the assets through the formula rate plan. The stipulation also provided for the offset of unprotected excess accumulated deferred income taxes of $127.2 million against net utility plant and $2.2 million against other regulatory assets, and the return to customers of the remaining balance of unprotected excess accumulated deferred income taxes as recovery of a portion of fuel oil inventory and customer bill credits over a three-month period from July 2018 through September 2018, with an insignificant true-up reflected in the November 2018 power management rider filing. Entergy Mississippi recorded the reduction against net utility plant and other regulatory assets in June 2018. In third quarter 2018, Entergy Mississippi returned unprotected excess accumulated deferred income taxes of $25.8 million through customer bill credits and $5.8 million through the sale of fuel oil inventory. Entergy New Orleans After enactment of the Tax Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Tax Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Tax Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Tax Act. The City Council’s resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy submitted filings of this type to the FERC. In March 2018, Entergy New Orleans filed its response to the resolution stating that the Tax Act reduced income tax expense from what was then reflected in rates by approximately $8.2 million annually for electric operations and by approximately $1.3 million annually for gas operations. In the filing, Entergy New Orleans proposed to return to customers from June 2018 through August 2019 the benefits of the reduction in income tax expense and its unprotected excess accumulated deferred income taxes through a combination of bill credits and investments in energy efficiency programs, grid modernization, and Smart City projects. Entergy New Orleans submitted supplemental information in April 2018 and May 2018. Shortly thereafter, Entergy New Orleans and the City Council’s advisors reached an agreement in principle that provides for benefits that will be realized by Entergy New Orleans customers through bill credits that started in July 2018 and offsets to future investments in energy efficiency programs, grid modernization, and Smart City projects, as well as additional benefits related to the filings made at the FERC. The agreement in principle was approved by the City Council in June 2018. Entergy Texas After enactment of the Tax Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. Entergy Texas had previously provided information to the PUCT staff and stated that it expected the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In May 2018, Entergy Texas filed its 2018 base rate case with the PUCT. Entergy Texas’s proposed rates and revenues reflected the inclusion of the federal income tax reductions due to the Tax Act. The PUCT issued an order in December 2018 establishing that 1) $25 million be credited to customers through a rider to reflect the lower federal income tax rate applicable to Entergy Texas from January 2018 through the date new rates were implemented, 2) $242.5 million of protected excess accumulated deferred income taxes be returned to customers through base rates under the average rate assumption method over the lives of the associated assets, and 3) $185.2 million of unprotected excess accumulated deferred income taxes be returned to customers through a rider. The unprotected excess accumulated deferred income taxes rider includes carrying charges and is in effect over a period of 12 months for larger customers and over a period of four years for other customers. System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging whether there are excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery The Utility operating companies 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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its upcoming energy cost rate redetermination filing that was made in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude from the redetermination of its 2014 energy cost rate $65.9 million of incremental fuel and replacement energy costs incurred in 2013 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 was available regarding various claims associated with the ANO stator incident. In February 2014 the APSC approved Entergy Arkansas’s request to retain that amount in its deferred fuel balance. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. In March 2018, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01547 per kWh to $0.01882 per kWh. The Arkansas Attorney General filed a response to Entergy Arkansas’s annual redetermination filing requesting that the APSC suspend the proposed tariff to investigate the amount of the redetermination or, alternatively, to allow recovery subject to refund. Among the reasons the Attorney General cited for suspension were questions pertaining to how Entergy Arkansas forecasted sales and potential implications of the Tax Act. Entergy Arkansas replied to the Attorney General’s filing and stated that, to the extent there are questions pertaining to its load forecasting or the operation of the energy cost recovery rider, those issues exceed the scope of the instant rate redetermination. Entergy Arkansas also stated that potential effects of the Tax Act are appropriately considered in the APSC’s separate proceeding regarding potential implications of the tax law. The APSC general staff filed a reply to the Attorney General’s filing and agreed that Entergy Arkansas’s filing complied with the terms of the energy cost recovery rider. The redetermined rate became effective with the first billing cycle of April 2018. Subsequently in April 2018 the APSC issued an order declining to suspend Entergy Arkansas’s energy cost recovery rider rate and declining to require further investigation at that time of the issues suggested by the Attorney General in the proceeding. Following a period of discovery, the Attorney General filed a supplemental response in October 2018 raising new issues with Entergy Arkansas’s March 2018 rate redetermination and asserting that $45.7 million of the increase should be collected subject to refund pending further investigation. Entergy Arkansas filed to dismiss the Attorney General’s supplemental response, the APSC general staff filed a motion to strike the Attorney General’s filing, and the Attorney General filed a supplemental response disputing Entergy Arkansas and the APSC staff’s filing. Applicable APSC rules and processes authorize its general staff to initiate periodic audits of Entergy Arkansas’s energy cost recovery rider. In late-2018 the APSC general staff notified Entergy Arkansas it has initiated an audit of the 2017 fuel costs. The time in which the audit will be complete is uncertain at this time. In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied |
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, 2019 and 2018 : Other Regulatory Assets Entergy 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,942.4 $2,611.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 920.4 814.3 Removal costs - recovered through depreciation rates (Note 9) 421.0 375.8 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 372.8 452.7 Retired electric and gas meters - recovered through retail rates as determined by retail regulators (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 205.6 — Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Unamortized loss on reacquired debt - recovered over term of debt 66.6 74.5 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 29.9 52.1 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 21.6 29.0 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 15.7 39.0 Other 150.3 157.7 Entergy Total $5,292.1 $4,746.5 Entergy Arkansas 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $796.5 $747.2 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 433.0 381.7 Removal costs - recovered through depreciation rates (Note 9) 168.9 138.3 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Retired electric meters - recovered over 15-year period through March 2034 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 50.4 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 46.1 60.7 Unamortized loss on reacquired debt - recovered over term of debt 18.3 21.2 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 10.9 12.6 Retail rate deferrals - recovered through rate riders as rates are redetermined annually (b) 2.3 20.5 Other 24.2 36.5 Entergy Arkansas Total $1,666.9 $1,535.0 Entergy Louisiana 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $787.7 $711.8 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 262.5 232.9 Retired electric meters - recovered over a 22-year period through July 2041 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 101.1 — Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 45.7 17.9 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 27.6 49.8 New nuclear generation development costs - recovery through formula rate plan December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 21.2 28.5 Unamortized loss on reacquired debt - recovered over term of debt 20.4 22.5 Business combination external costs deferral - recovery through formula rate plan December 2015 through November 2025 (b) 10.8 12.4 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 9.1 11.0 Other 29.1 18.3 Entergy Louisiana Total $1,315.2 $1,105.1 Entergy Mississippi 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $234.4 $215.9 Removal costs - recovered through depreciation rates (Note 9) 80.8 63.5 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 Unamortized loss on reacquired debt - recovered over term of debt 14.9 16.2 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.8 7.2 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 7.6 16.6 Other 3.0 — Entergy Mississippi Total $378.0 $343.0 Entergy New Orleans 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $85.9 $96.2 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 59.6 70.4 Removal costs - recovered through depreciation rates (Note 9) 52.9 49.3 Retired meters - recovered over a 12-year period through July 2031 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) (b) 24.6 — Retired plant costs - recovered over a 20-year period through July 2039 (Note 2 - Retail Rate Proceedings ) 10.0 — Rate case costs - recovered over a 3-year period through July 2022 (Note 2 - Retail Rate Proceedings ) 7.0 — Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.9 4.5 Algiers customer migration costs - recovered over a 5-year period through July 2024 (Note 2 - Retail Rate Proceedings ) 4.9 — Unamortized loss on reacquired debt - recovered over term of debt 2.3 2.6 Other 7.3 6.8 Entergy New Orleans Total $259.4 $229.8 Entergy Texas 2019 2018 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $221.4 $303.6 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 167.7 171.8 Removal costs - recovered through depreciation rates (Note 9) 42.5 50.9 Retired electric meters - recovered over 13-year period through February 2032 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 28.4 — Neches and Sabine costs - recovered over a 10-year period through September 2028 (Note 2 - Retail Rate Proceedings ) 21.2 23.6 Transition to competition costs - recovered over a 15-year period through February 2021 14.9 26.7 Unamortized loss on reacquired debt - recovered over term of debt 7.7 8.2 Other 8.8 13.2 Entergy Texas Total $512.6 $598.0 System Energy 2019 2018 (In Millions) Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) $210.9 $186.9 Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) 200.3 179.3 Removal costs - recovered through depreciation rates (Note 9) 75.9 76.4 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.8 System Energy Total $490.1 $446.4 (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 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $1,300.1 $815.9 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 62.3 84.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions ) 55.6 55.6 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 51.1 44.4 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.2 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Advanced metering system (AMS) surcharge - return to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 25.3 16.5 Excess decommissioning recovery for Willow Glen - (Note 14 - Dispositions ) 21.2 31.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Income tax rate change - returned to electric and gas customers through retail rates (Note 2 - Retail Rate Proceedings ) 13.9 74.7 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Other 36.6 28.2 Entergy Total $1,961.0 $1,620.3 Entergy Arkansas 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $460.3 $297.2 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 46.6 35.1 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 19.7 30.8 Entergy Arkansas Total $559.6 $402.7 Entergy Louisiana 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $436.5 $274.1 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.1 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Excess decommissioning recovery for Willow Glen - returned over one-year period through retail rates (Note 14 - Dispositions ) 21.2 31.9 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Income tax rate change - returned to electric customers through retail rates September 2018 through August 2019 (Note 2 - Retail Rate Proceedings ) — 49.9 Other 36.8 33.4 Entergy Louisiana Total $794.1 $748.8 Entergy Mississippi 2019 2018 (In Millions) Retail rate deferrals - returned to customers through rate riders as rates are redetermined annually $14.6 $1.3 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 4.5 9.3 Grand Gulf Over-Recovery - returned to customers through rate riders as rates are redetermined annually 2.4 22.6 Other — 0.4 Entergy Mississippi Total $21.5 $33.6 Entergy Texas 2019 2018 (In Millions) Advanced metering system (AMS) surcharge - returned to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) $25.3 $16.5 Income tax rate change - refunded through a rate rider (Note 2 - Retail Rate Proceedings ) 10.4 23.1 Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically 3.8 4.2 Other 2.6 4.1 Entergy Texas Total $42.1 $47.9 System Energy 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $403.3 $244.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions) 55.6 55.6 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Other 12.3 12.3 System Energy Total $533.4 $381.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the December 2017 enactment of the Tax Cuts and Jobs Act, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. Entergy Arkansas Consistent with its previously stated intent to return unprotected excess accumulated deferred income taxes to customers as expeditiously as possible, Entergy Arkansas initiated a tariff proceeding in February 2018 proposing to establish a tax adjustment rider to provide retail customers with certain tax benefits of $467 million associated with the Tax Act. For the residential customer class, unprotected excess accumulated deferred income taxes were returned to customers over a 21-month period from April 2018 through December 2019. For all other customer classes, unprotected excess accumulated deferred income taxes were returned to customers over a nine-month period from April 2018 through December 2018. A true-up provision also was included in the rider, with any over- or under-returned unprotected excess accumulated deferred income taxes credited or billed to customers during the billing month of January 2020, with any residual amounts of over- or under-returned unprotected excess accumulated deferred income taxes to be flowed through Entergy Arkansas’s energy cost recovery rider. In March 2018 the APSC approved the tax adjustment rider effective with the first billing cycle of April 2018. As discussed below, in July 2018, Entergy Arkansas made its formula rate plan filing to set its formula rate for the 2019 calendar year. A hearing was held in May 2018 regarding the APSC’s inquiries into the effects of the Tax Act, including Entergy Arkansas’s proposal to utilize its formula rate plan rider for its customers to realize the remaining benefits of the Tax Act. Entergy Arkansas’s formula rate plan rider included a netting adjustment that compared actual annual results to the allowed rate of return on common equity. In July 2018 the APSC issued an order agreeing with Entergy Arkansas’s proposal to have the effects of the Tax Act on current income tax expense flow through Entergy Arkansas’s formula rate plan rider and with Entergy Arkansas’s treatment of protected and unprotected excess accumulated deferred income taxes. The APSC also directed Entergy Arkansas to submit in the tax adjustment rider proceeding, discussed above, the adjustments to all other riders affected by the Tax Act and to include an amendment for a true up mechanism where a rider affected by the Tax Act does not already contain a true-up mechanism. Pursuant to a 2018 settlement agreement in Entergy Arkansas’s formula rate plan proceeding, Entergy Arkansas also removed the net operating loss accumulated deferred income tax asset caused by the Tax Act from Entergy Arkansas’s tax adjustment rider. Entergy Arkansas’s compliance tariff filings were accepted by the APSC in October 2018. Entergy Louisiana In an electric formula rate plan settlement approved by the LPSC in April 2018 the parties agreed that Entergy Louisiana would return to customers one-half of its eligible unprotected excess deferred income taxes from May 2018 through December 2018 and return to customers the other half from January 2019 through August 2022. In addition, the settlement provided that in order to flow back to customers certain other tax benefits created by the Tax Act, Entergy Louisiana established a regulatory liability effective January 1, 2018 in the amount of $9.1 million per month to reflect these tax benefits already included in retail rates until new base rates under the formula rate plan were established in September 2018, and this regulatory liability was returned to customers over the September 2018 through August 2019 formula rate plan rate-effective period. The LPSC staff and intervenors in the settlement reserved the right to obtain data from Entergy Louisiana to confirm the determination of excess accumulated deferred income taxes resulting from the Tax Act and the analysis thereof as part of the formula rate plan review proceeding for the 2017 test year filing which, as discussed below, Entergy Louisiana filed in June 2018. Entergy Mississippi Entergy Mississippi filed its 2018 formula rate plan in March 2018 and included a proposal to return all of its unprotected excess accumulated deferred income taxes to customers through rates or in exchange for other assets, or a combination of both, by the end of 2018. In June 2018 the MPSC approved a stipulation filed by Entergy Mississippi and the Mississippi Public Utilities Staff in Entergy Mississippi’s formula rate plan filing that addressed Entergy Mississippi’s 2018 formula rate plan evaluation report and the ratemaking effects of the Tax Act. The stipulation provided for incorporating the reduction of the statutory federal income tax rate through Entergy Mississippi’s formula rate plan. The stipulation approved in June 2018 provided for the flow-back of protected excess accumulated deferred income taxes over the remaining lives of the assets through the formula rate plan. The stipulation also provided for the offset of unprotected excess accumulated deferred income taxes of $127.2 million against net utility plant and $2.2 million against other regulatory assets, and the return to customers of the remaining balance of unprotected excess accumulated deferred income taxes as recovery of a portion of fuel oil inventory and customer bill credits over a three-month period from July 2018 through September 2018, with an insignificant true-up reflected in the November 2018 power management rider filing. Entergy Mississippi recorded the reduction against net utility plant and other regulatory assets in June 2018. In third quarter 2018, Entergy Mississippi returned unprotected excess accumulated deferred income taxes of $25.8 million through customer bill credits and $5.8 million through the sale of fuel oil inventory. Entergy New Orleans After enactment of the Tax Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Tax Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Tax Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Tax Act. The City Council’s resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy submitted filings of this type to the FERC. In March 2018, Entergy New Orleans filed its response to the resolution stating that the Tax Act reduced income tax expense from what was then reflected in rates by approximately $8.2 million annually for electric operations and by approximately $1.3 million annually for gas operations. In the filing, Entergy New Orleans proposed to return to customers from June 2018 through August 2019 the benefits of the reduction in income tax expense and its unprotected excess accumulated deferred income taxes through a combination of bill credits and investments in energy efficiency programs, grid modernization, and Smart City projects. Entergy New Orleans submitted supplemental information in April 2018 and May 2018. Shortly thereafter, Entergy New Orleans and the City Council’s advisors reached an agreement in principle that provides for benefits that will be realized by Entergy New Orleans customers through bill credits that started in July 2018 and offsets to future investments in energy efficiency programs, grid modernization, and Smart City projects, as well as additional benefits related to the filings made at the FERC. The agreement in principle was approved by the City Council in June 2018. Entergy Texas After enactment of the Tax Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. Entergy Texas had previously provided information to the PUCT staff and stated that it expected the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In May 2018, Entergy Texas filed its 2018 base rate case with the PUCT. Entergy Texas’s proposed rates and revenues reflected the inclusion of the federal income tax reductions due to the Tax Act. The PUCT issued an order in December 2018 establishing that 1) $25 million be credited to customers through a rider to reflect the lower federal income tax rate applicable to Entergy Texas from January 2018 through the date new rates were implemented, 2) $242.5 million of protected excess accumulated deferred income taxes be returned to customers through base rates under the average rate assumption method over the lives of the associated assets, and 3) $185.2 million of unprotected excess accumulated deferred income taxes be returned to customers through a rider. The unprotected excess accumulated deferred income taxes rider includes carrying charges and is in effect over a period of 12 months for larger customers and over a period of four years for other customers. System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging whether there are excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery The Utility operating companies 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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its upcoming energy cost rate redetermination filing that was made in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude from the redetermination of its 2014 energy cost rate $65.9 million of incremental fuel and replacement energy costs incurred in 2013 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 was available regarding various claims associated with the ANO stator incident. In February 2014 the APSC approved Entergy Arkansas’s request to retain that amount in its deferred fuel balance. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. In March 2018, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01547 per kWh to $0.01882 per kWh. The Arkansas Attorney General filed a response to Entergy Arkansas’s annual redetermination filing requesting that the APSC suspend the proposed tariff to investigate the amount of the redetermination or, alternatively, to allow recovery subject to refund. Among the reasons the Attorney General cited for suspension were questions pertaining to how Entergy Arkansas forecasted sales and potential implications of the Tax Act. Entergy Arkansas replied to the Attorney General’s filing and stated that, to the extent there are questions pertaining to its load forecasting or the operation of the energy cost recovery rider, those issues exceed the scope of the instant rate redetermination. Entergy Arkansas also stated that potential effects of the Tax Act are appropriately considered in the APSC’s separate proceeding regarding potential implications of the tax law. The APSC general staff filed a reply to the Attorney General’s filing and agreed that Entergy Arkansas’s filing complied with the terms of the energy cost recovery rider. The redetermined rate became effective with the first billing cycle of April 2018. Subsequently in April 2018 the APSC issued an order declining to suspend Entergy Arkansas’s energy cost recovery rider rate and declining to require further investigation at that time of the issues suggested by the Attorney General in the proceeding. Following a period of discovery, the Attorney General filed a supplemental response in October 2018 raising new issues with Entergy Arkansas’s March 2018 rate redetermination and asserting that $45.7 million of the increase should be collected subject to refund pending further investigation. Entergy Arkansas filed to dismiss the Attorney General’s supplemental response, the APSC general staff filed a motion to strike the Attorney General’s filing, and the Attorney General filed a supplemental response disputing Entergy Arkansas and the APSC staff’s filing. Applicable APSC rules and processes authorize its general staff to initiate periodic audits of Entergy Arkansas’s energy cost recovery rider. In late-2018 the APSC general staff notified Entergy Arkansas it has initiated an audit of the 2017 fuel costs. The time in which the audit will be complete is uncertain at this time. In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied |
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, 2019 and 2018 : Other Regulatory Assets Entergy 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,942.4 $2,611.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 920.4 814.3 Removal costs - recovered through depreciation rates (Note 9) 421.0 375.8 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 372.8 452.7 Retired electric and gas meters - recovered through retail rates as determined by retail regulators (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 205.6 — Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Unamortized loss on reacquired debt - recovered over term of debt 66.6 74.5 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 29.9 52.1 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 21.6 29.0 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 15.7 39.0 Other 150.3 157.7 Entergy Total $5,292.1 $4,746.5 Entergy Arkansas 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $796.5 $747.2 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 433.0 381.7 Removal costs - recovered through depreciation rates (Note 9) 168.9 138.3 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Retired electric meters - recovered over 15-year period through March 2034 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 50.4 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 46.1 60.7 Unamortized loss on reacquired debt - recovered over term of debt 18.3 21.2 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 10.9 12.6 Retail rate deferrals - recovered through rate riders as rates are redetermined annually (b) 2.3 20.5 Other 24.2 36.5 Entergy Arkansas Total $1,666.9 $1,535.0 Entergy Louisiana 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $787.7 $711.8 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 262.5 232.9 Retired electric meters - recovered over a 22-year period through July 2041 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 101.1 — Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 45.7 17.9 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 27.6 49.8 New nuclear generation development costs - recovery through formula rate plan December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 21.2 28.5 Unamortized loss on reacquired debt - recovered over term of debt 20.4 22.5 Business combination external costs deferral - recovery through formula rate plan December 2015 through November 2025 (b) 10.8 12.4 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 9.1 11.0 Other 29.1 18.3 Entergy Louisiana Total $1,315.2 $1,105.1 Entergy Mississippi 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $234.4 $215.9 Removal costs - recovered through depreciation rates (Note 9) 80.8 63.5 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 Unamortized loss on reacquired debt - recovered over term of debt 14.9 16.2 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.8 7.2 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 7.6 16.6 Other 3.0 — Entergy Mississippi Total $378.0 $343.0 Entergy New Orleans 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $85.9 $96.2 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 59.6 70.4 Removal costs - recovered through depreciation rates (Note 9) 52.9 49.3 Retired meters - recovered over a 12-year period through July 2031 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) (b) 24.6 — Retired plant costs - recovered over a 20-year period through July 2039 (Note 2 - Retail Rate Proceedings ) 10.0 — Rate case costs - recovered over a 3-year period through July 2022 (Note 2 - Retail Rate Proceedings ) 7.0 — Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.9 4.5 Algiers customer migration costs - recovered over a 5-year period through July 2024 (Note 2 - Retail Rate Proceedings ) 4.9 — Unamortized loss on reacquired debt - recovered over term of debt 2.3 2.6 Other 7.3 6.8 Entergy New Orleans Total $259.4 $229.8 Entergy Texas 2019 2018 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $221.4 $303.6 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 167.7 171.8 Removal costs - recovered through depreciation rates (Note 9) 42.5 50.9 Retired electric meters - recovered over 13-year period through February 2032 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 28.4 — Neches and Sabine costs - recovered over a 10-year period through September 2028 (Note 2 - Retail Rate Proceedings ) 21.2 23.6 Transition to competition costs - recovered over a 15-year period through February 2021 14.9 26.7 Unamortized loss on reacquired debt - recovered over term of debt 7.7 8.2 Other 8.8 13.2 Entergy Texas Total $512.6 $598.0 System Energy 2019 2018 (In Millions) Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) $210.9 $186.9 Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) 200.3 179.3 Removal costs - recovered through depreciation rates (Note 9) 75.9 76.4 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.8 System Energy Total $490.1 $446.4 (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 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $1,300.1 $815.9 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 62.3 84.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions ) 55.6 55.6 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 51.1 44.4 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.2 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Advanced metering system (AMS) surcharge - return to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 25.3 16.5 Excess decommissioning recovery for Willow Glen - (Note 14 - Dispositions ) 21.2 31.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Income tax rate change - returned to electric and gas customers through retail rates (Note 2 - Retail Rate Proceedings ) 13.9 74.7 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Other 36.6 28.2 Entergy Total $1,961.0 $1,620.3 Entergy Arkansas 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $460.3 $297.2 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 46.6 35.1 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 19.7 30.8 Entergy Arkansas Total $559.6 $402.7 Entergy Louisiana 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $436.5 $274.1 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.1 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Excess decommissioning recovery for Willow Glen - returned over one-year period through retail rates (Note 14 - Dispositions ) 21.2 31.9 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Income tax rate change - returned to electric customers through retail rates September 2018 through August 2019 (Note 2 - Retail Rate Proceedings ) — 49.9 Other 36.8 33.4 Entergy Louisiana Total $794.1 $748.8 Entergy Mississippi 2019 2018 (In Millions) Retail rate deferrals - returned to customers through rate riders as rates are redetermined annually $14.6 $1.3 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 4.5 9.3 Grand Gulf Over-Recovery - returned to customers through rate riders as rates are redetermined annually 2.4 22.6 Other — 0.4 Entergy Mississippi Total $21.5 $33.6 Entergy Texas 2019 2018 (In Millions) Advanced metering system (AMS) surcharge - returned to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) $25.3 $16.5 Income tax rate change - refunded through a rate rider (Note 2 - Retail Rate Proceedings ) 10.4 23.1 Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically 3.8 4.2 Other 2.6 4.1 Entergy Texas Total $42.1 $47.9 System Energy 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $403.3 $244.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions) 55.6 55.6 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Other 12.3 12.3 System Energy Total $533.4 $381.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the December 2017 enactment of the Tax Cuts and Jobs Act, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. Entergy Arkansas Consistent with its previously stated intent to return unprotected excess accumulated deferred income taxes to customers as expeditiously as possible, Entergy Arkansas initiated a tariff proceeding in February 2018 proposing to establish a tax adjustment rider to provide retail customers with certain tax benefits of $467 million associated with the Tax Act. For the residential customer class, unprotected excess accumulated deferred income taxes were returned to customers over a 21-month period from April 2018 through December 2019. For all other customer classes, unprotected excess accumulated deferred income taxes were returned to customers over a nine-month period from April 2018 through December 2018. A true-up provision also was included in the rider, with any over- or under-returned unprotected excess accumulated deferred income taxes credited or billed to customers during the billing month of January 2020, with any residual amounts of over- or under-returned unprotected excess accumulated deferred income taxes to be flowed through Entergy Arkansas’s energy cost recovery rider. In March 2018 the APSC approved the tax adjustment rider effective with the first billing cycle of April 2018. As discussed below, in July 2018, Entergy Arkansas made its formula rate plan filing to set its formula rate for the 2019 calendar year. A hearing was held in May 2018 regarding the APSC’s inquiries into the effects of the Tax Act, including Entergy Arkansas’s proposal to utilize its formula rate plan rider for its customers to realize the remaining benefits of the Tax Act. Entergy Arkansas’s formula rate plan rider included a netting adjustment that compared actual annual results to the allowed rate of return on common equity. In July 2018 the APSC issued an order agreeing with Entergy Arkansas’s proposal to have the effects of the Tax Act on current income tax expense flow through Entergy Arkansas’s formula rate plan rider and with Entergy Arkansas’s treatment of protected and unprotected excess accumulated deferred income taxes. The APSC also directed Entergy Arkansas to submit in the tax adjustment rider proceeding, discussed above, the adjustments to all other riders affected by the Tax Act and to include an amendment for a true up mechanism where a rider affected by the Tax Act does not already contain a true-up mechanism. Pursuant to a 2018 settlement agreement in Entergy Arkansas’s formula rate plan proceeding, Entergy Arkansas also removed the net operating loss accumulated deferred income tax asset caused by the Tax Act from Entergy Arkansas’s tax adjustment rider. Entergy Arkansas’s compliance tariff filings were accepted by the APSC in October 2018. Entergy Louisiana In an electric formula rate plan settlement approved by the LPSC in April 2018 the parties agreed that Entergy Louisiana would return to customers one-half of its eligible unprotected excess deferred income taxes from May 2018 through December 2018 and return to customers the other half from January 2019 through August 2022. In addition, the settlement provided that in order to flow back to customers certain other tax benefits created by the Tax Act, Entergy Louisiana established a regulatory liability effective January 1, 2018 in the amount of $9.1 million per month to reflect these tax benefits already included in retail rates until new base rates under the formula rate plan were established in September 2018, and this regulatory liability was returned to customers over the September 2018 through August 2019 formula rate plan rate-effective period. The LPSC staff and intervenors in the settlement reserved the right to obtain data from Entergy Louisiana to confirm the determination of excess accumulated deferred income taxes resulting from the Tax Act and the analysis thereof as part of the formula rate plan review proceeding for the 2017 test year filing which, as discussed below, Entergy Louisiana filed in June 2018. Entergy Mississippi Entergy Mississippi filed its 2018 formula rate plan in March 2018 and included a proposal to return all of its unprotected excess accumulated deferred income taxes to customers through rates or in exchange for other assets, or a combination of both, by the end of 2018. In June 2018 the MPSC approved a stipulation filed by Entergy Mississippi and the Mississippi Public Utilities Staff in Entergy Mississippi’s formula rate plan filing that addressed Entergy Mississippi’s 2018 formula rate plan evaluation report and the ratemaking effects of the Tax Act. The stipulation provided for incorporating the reduction of the statutory federal income tax rate through Entergy Mississippi’s formula rate plan. The stipulation approved in June 2018 provided for the flow-back of protected excess accumulated deferred income taxes over the remaining lives of the assets through the formula rate plan. The stipulation also provided for the offset of unprotected excess accumulated deferred income taxes of $127.2 million against net utility plant and $2.2 million against other regulatory assets, and the return to customers of the remaining balance of unprotected excess accumulated deferred income taxes as recovery of a portion of fuel oil inventory and customer bill credits over a three-month period from July 2018 through September 2018, with an insignificant true-up reflected in the November 2018 power management rider filing. Entergy Mississippi recorded the reduction against net utility plant and other regulatory assets in June 2018. In third quarter 2018, Entergy Mississippi returned unprotected excess accumulated deferred income taxes of $25.8 million through customer bill credits and $5.8 million through the sale of fuel oil inventory. Entergy New Orleans After enactment of the Tax Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Tax Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Tax Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Tax Act. The City Council’s resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy submitted filings of this type to the FERC. In March 2018, Entergy New Orleans filed its response to the resolution stating that the Tax Act reduced income tax expense from what was then reflected in rates by approximately $8.2 million annually for electric operations and by approximately $1.3 million annually for gas operations. In the filing, Entergy New Orleans proposed to return to customers from June 2018 through August 2019 the benefits of the reduction in income tax expense and its unprotected excess accumulated deferred income taxes through a combination of bill credits and investments in energy efficiency programs, grid modernization, and Smart City projects. Entergy New Orleans submitted supplemental information in April 2018 and May 2018. Shortly thereafter, Entergy New Orleans and the City Council’s advisors reached an agreement in principle that provides for benefits that will be realized by Entergy New Orleans customers through bill credits that started in July 2018 and offsets to future investments in energy efficiency programs, grid modernization, and Smart City projects, as well as additional benefits related to the filings made at the FERC. The agreement in principle was approved by the City Council in June 2018. Entergy Texas After enactment of the Tax Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. Entergy Texas had previously provided information to the PUCT staff and stated that it expected the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In May 2018, Entergy Texas filed its 2018 base rate case with the PUCT. Entergy Texas’s proposed rates and revenues reflected the inclusion of the federal income tax reductions due to the Tax Act. The PUCT issued an order in December 2018 establishing that 1) $25 million be credited to customers through a rider to reflect the lower federal income tax rate applicable to Entergy Texas from January 2018 through the date new rates were implemented, 2) $242.5 million of protected excess accumulated deferred income taxes be returned to customers through base rates under the average rate assumption method over the lives of the associated assets, and 3) $185.2 million of unprotected excess accumulated deferred income taxes be returned to customers through a rider. The unprotected excess accumulated deferred income taxes rider includes carrying charges and is in effect over a period of 12 months for larger customers and over a period of four years for other customers. System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging whether there are excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery The Utility operating companies 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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its upcoming energy cost rate redetermination filing that was made in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude from the redetermination of its 2014 energy cost rate $65.9 million of incremental fuel and replacement energy costs incurred in 2013 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 was available regarding various claims associated with the ANO stator incident. In February 2014 the APSC approved Entergy Arkansas’s request to retain that amount in its deferred fuel balance. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. In March 2018, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01547 per kWh to $0.01882 per kWh. The Arkansas Attorney General filed a response to Entergy Arkansas’s annual redetermination filing requesting that the APSC suspend the proposed tariff to investigate the amount of the redetermination or, alternatively, to allow recovery subject to refund. Among the reasons the Attorney General cited for suspension were questions pertaining to how Entergy Arkansas forecasted sales and potential implications of the Tax Act. Entergy Arkansas replied to the Attorney General’s filing and stated that, to the extent there are questions pertaining to its load forecasting or the operation of the energy cost recovery rider, those issues exceed the scope of the instant rate redetermination. Entergy Arkansas also stated that potential effects of the Tax Act are appropriately considered in the APSC’s separate proceeding regarding potential implications of the tax law. The APSC general staff filed a reply to the Attorney General’s filing and agreed that Entergy Arkansas’s filing complied with the terms of the energy cost recovery rider. The redetermined rate became effective with the first billing cycle of April 2018. Subsequently in April 2018 the APSC issued an order declining to suspend Entergy Arkansas’s energy cost recovery rider rate and declining to require further investigation at that time of the issues suggested by the Attorney General in the proceeding. Following a period of discovery, the Attorney General filed a supplemental response in October 2018 raising new issues with Entergy Arkansas’s March 2018 rate redetermination and asserting that $45.7 million of the increase should be collected subject to refund pending further investigation. Entergy Arkansas filed to dismiss the Attorney General’s supplemental response, the APSC general staff filed a motion to strike the Attorney General’s filing, and the Attorney General filed a supplemental response disputing Entergy Arkansas and the APSC staff’s filing. Applicable APSC rules and processes authorize its general staff to initiate periodic audits of Entergy Arkansas’s energy cost recovery rider. In late-2018 the APSC general staff notified Entergy Arkansas it has initiated an audit of the 2017 fuel costs. The time in which the audit will be complete is uncertain at this time. In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied |
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, 2019 and 2018 : Other Regulatory Assets Entergy 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,942.4 $2,611.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 920.4 814.3 Removal costs - recovered through depreciation rates (Note 9) 421.0 375.8 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 372.8 452.7 Retired electric and gas meters - recovered through retail rates as determined by retail regulators (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 205.6 — Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Unamortized loss on reacquired debt - recovered over term of debt 66.6 74.5 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 29.9 52.1 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 21.6 29.0 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 15.7 39.0 Other 150.3 157.7 Entergy Total $5,292.1 $4,746.5 Entergy Arkansas 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $796.5 $747.2 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 433.0 381.7 Removal costs - recovered through depreciation rates (Note 9) 168.9 138.3 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Retired electric meters - recovered over 15-year period through March 2034 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 50.4 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 46.1 60.7 Unamortized loss on reacquired debt - recovered over term of debt 18.3 21.2 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 10.9 12.6 Retail rate deferrals - recovered through rate riders as rates are redetermined annually (b) 2.3 20.5 Other 24.2 36.5 Entergy Arkansas Total $1,666.9 $1,535.0 Entergy Louisiana 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $787.7 $711.8 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 262.5 232.9 Retired electric meters - recovered over a 22-year period through July 2041 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 101.1 — Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 45.7 17.9 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 27.6 49.8 New nuclear generation development costs - recovery through formula rate plan December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 21.2 28.5 Unamortized loss on reacquired debt - recovered over term of debt 20.4 22.5 Business combination external costs deferral - recovery through formula rate plan December 2015 through November 2025 (b) 10.8 12.4 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 9.1 11.0 Other 29.1 18.3 Entergy Louisiana Total $1,315.2 $1,105.1 Entergy Mississippi 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $234.4 $215.9 Removal costs - recovered through depreciation rates (Note 9) 80.8 63.5 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 Unamortized loss on reacquired debt - recovered over term of debt 14.9 16.2 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.8 7.2 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 7.6 16.6 Other 3.0 — Entergy Mississippi Total $378.0 $343.0 Entergy New Orleans 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $85.9 $96.2 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 59.6 70.4 Removal costs - recovered through depreciation rates (Note 9) 52.9 49.3 Retired meters - recovered over a 12-year period through July 2031 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) (b) 24.6 — Retired plant costs - recovered over a 20-year period through July 2039 (Note 2 - Retail Rate Proceedings ) 10.0 — Rate case costs - recovered over a 3-year period through July 2022 (Note 2 - Retail Rate Proceedings ) 7.0 — Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.9 4.5 Algiers customer migration costs - recovered over a 5-year period through July 2024 (Note 2 - Retail Rate Proceedings ) 4.9 — Unamortized loss on reacquired debt - recovered over term of debt 2.3 2.6 Other 7.3 6.8 Entergy New Orleans Total $259.4 $229.8 Entergy Texas 2019 2018 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $221.4 $303.6 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 167.7 171.8 Removal costs - recovered through depreciation rates (Note 9) 42.5 50.9 Retired electric meters - recovered over 13-year period through February 2032 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 28.4 — Neches and Sabine costs - recovered over a 10-year period through September 2028 (Note 2 - Retail Rate Proceedings ) 21.2 23.6 Transition to competition costs - recovered over a 15-year period through February 2021 14.9 26.7 Unamortized loss on reacquired debt - recovered over term of debt 7.7 8.2 Other 8.8 13.2 Entergy Texas Total $512.6 $598.0 System Energy 2019 2018 (In Millions) Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) $210.9 $186.9 Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) 200.3 179.3 Removal costs - recovered through depreciation rates (Note 9) 75.9 76.4 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.8 System Energy Total $490.1 $446.4 (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 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $1,300.1 $815.9 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 62.3 84.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions ) 55.6 55.6 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 51.1 44.4 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.2 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Advanced metering system (AMS) surcharge - return to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 25.3 16.5 Excess decommissioning recovery for Willow Glen - (Note 14 - Dispositions ) 21.2 31.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Income tax rate change - returned to electric and gas customers through retail rates (Note 2 - Retail Rate Proceedings ) 13.9 74.7 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Other 36.6 28.2 Entergy Total $1,961.0 $1,620.3 Entergy Arkansas 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $460.3 $297.2 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 46.6 35.1 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 19.7 30.8 Entergy Arkansas Total $559.6 $402.7 Entergy Louisiana 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $436.5 $274.1 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.1 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Excess decommissioning recovery for Willow Glen - returned over one-year period through retail rates (Note 14 - Dispositions ) 21.2 31.9 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Income tax rate change - returned to electric customers through retail rates September 2018 through August 2019 (Note 2 - Retail Rate Proceedings ) — 49.9 Other 36.8 33.4 Entergy Louisiana Total $794.1 $748.8 Entergy Mississippi 2019 2018 (In Millions) Retail rate deferrals - returned to customers through rate riders as rates are redetermined annually $14.6 $1.3 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 4.5 9.3 Grand Gulf Over-Recovery - returned to customers through rate riders as rates are redetermined annually 2.4 22.6 Other — 0.4 Entergy Mississippi Total $21.5 $33.6 Entergy Texas 2019 2018 (In Millions) Advanced metering system (AMS) surcharge - returned to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) $25.3 $16.5 Income tax rate change - refunded through a rate rider (Note 2 - Retail Rate Proceedings ) 10.4 23.1 Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically 3.8 4.2 Other 2.6 4.1 Entergy Texas Total $42.1 $47.9 System Energy 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $403.3 $244.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions) 55.6 55.6 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Other 12.3 12.3 System Energy Total $533.4 $381.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the December 2017 enactment of the Tax Cuts and Jobs Act, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. Entergy Arkansas Consistent with its previously stated intent to return unprotected excess accumulated deferred income taxes to customers as expeditiously as possible, Entergy Arkansas initiated a tariff proceeding in February 2018 proposing to establish a tax adjustment rider to provide retail customers with certain tax benefits of $467 million associated with the Tax Act. For the residential customer class, unprotected excess accumulated deferred income taxes were returned to customers over a 21-month period from April 2018 through December 2019. For all other customer classes, unprotected excess accumulated deferred income taxes were returned to customers over a nine-month period from April 2018 through December 2018. A true-up provision also was included in the rider, with any over- or under-returned unprotected excess accumulated deferred income taxes credited or billed to customers during the billing month of January 2020, with any residual amounts of over- or under-returned unprotected excess accumulated deferred income taxes to be flowed through Entergy Arkansas’s energy cost recovery rider. In March 2018 the APSC approved the tax adjustment rider effective with the first billing cycle of April 2018. As discussed below, in July 2018, Entergy Arkansas made its formula rate plan filing to set its formula rate for the 2019 calendar year. A hearing was held in May 2018 regarding the APSC’s inquiries into the effects of the Tax Act, including Entergy Arkansas’s proposal to utilize its formula rate plan rider for its customers to realize the remaining benefits of the Tax Act. Entergy Arkansas’s formula rate plan rider included a netting adjustment that compared actual annual results to the allowed rate of return on common equity. In July 2018 the APSC issued an order agreeing with Entergy Arkansas’s proposal to have the effects of the Tax Act on current income tax expense flow through Entergy Arkansas’s formula rate plan rider and with Entergy Arkansas’s treatment of protected and unprotected excess accumulated deferred income taxes. The APSC also directed Entergy Arkansas to submit in the tax adjustment rider proceeding, discussed above, the adjustments to all other riders affected by the Tax Act and to include an amendment for a true up mechanism where a rider affected by the Tax Act does not already contain a true-up mechanism. Pursuant to a 2018 settlement agreement in Entergy Arkansas’s formula rate plan proceeding, Entergy Arkansas also removed the net operating loss accumulated deferred income tax asset caused by the Tax Act from Entergy Arkansas’s tax adjustment rider. Entergy Arkansas’s compliance tariff filings were accepted by the APSC in October 2018. Entergy Louisiana In an electric formula rate plan settlement approved by the LPSC in April 2018 the parties agreed that Entergy Louisiana would return to customers one-half of its eligible unprotected excess deferred income taxes from May 2018 through December 2018 and return to customers the other half from January 2019 through August 2022. In addition, the settlement provided that in order to flow back to customers certain other tax benefits created by the Tax Act, Entergy Louisiana established a regulatory liability effective January 1, 2018 in the amount of $9.1 million per month to reflect these tax benefits already included in retail rates until new base rates under the formula rate plan were established in September 2018, and this regulatory liability was returned to customers over the September 2018 through August 2019 formula rate plan rate-effective period. The LPSC staff and intervenors in the settlement reserved the right to obtain data from Entergy Louisiana to confirm the determination of excess accumulated deferred income taxes resulting from the Tax Act and the analysis thereof as part of the formula rate plan review proceeding for the 2017 test year filing which, as discussed below, Entergy Louisiana filed in June 2018. Entergy Mississippi Entergy Mississippi filed its 2018 formula rate plan in March 2018 and included a proposal to return all of its unprotected excess accumulated deferred income taxes to customers through rates or in exchange for other assets, or a combination of both, by the end of 2018. In June 2018 the MPSC approved a stipulation filed by Entergy Mississippi and the Mississippi Public Utilities Staff in Entergy Mississippi’s formula rate plan filing that addressed Entergy Mississippi’s 2018 formula rate plan evaluation report and the ratemaking effects of the Tax Act. The stipulation provided for incorporating the reduction of the statutory federal income tax rate through Entergy Mississippi’s formula rate plan. The stipulation approved in June 2018 provided for the flow-back of protected excess accumulated deferred income taxes over the remaining lives of the assets through the formula rate plan. The stipulation also provided for the offset of unprotected excess accumulated deferred income taxes of $127.2 million against net utility plant and $2.2 million against other regulatory assets, and the return to customers of the remaining balance of unprotected excess accumulated deferred income taxes as recovery of a portion of fuel oil inventory and customer bill credits over a three-month period from July 2018 through September 2018, with an insignificant true-up reflected in the November 2018 power management rider filing. Entergy Mississippi recorded the reduction against net utility plant and other regulatory assets in June 2018. In third quarter 2018, Entergy Mississippi returned unprotected excess accumulated deferred income taxes of $25.8 million through customer bill credits and $5.8 million through the sale of fuel oil inventory. Entergy New Orleans After enactment of the Tax Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Tax Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Tax Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Tax Act. The City Council’s resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy submitted filings of this type to the FERC. In March 2018, Entergy New Orleans filed its response to the resolution stating that the Tax Act reduced income tax expense from what was then reflected in rates by approximately $8.2 million annually for electric operations and by approximately $1.3 million annually for gas operations. In the filing, Entergy New Orleans proposed to return to customers from June 2018 through August 2019 the benefits of the reduction in income tax expense and its unprotected excess accumulated deferred income taxes through a combination of bill credits and investments in energy efficiency programs, grid modernization, and Smart City projects. Entergy New Orleans submitted supplemental information in April 2018 and May 2018. Shortly thereafter, Entergy New Orleans and the City Council’s advisors reached an agreement in principle that provides for benefits that will be realized by Entergy New Orleans customers through bill credits that started in July 2018 and offsets to future investments in energy efficiency programs, grid modernization, and Smart City projects, as well as additional benefits related to the filings made at the FERC. The agreement in principle was approved by the City Council in June 2018. Entergy Texas After enactment of the Tax Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. Entergy Texas had previously provided information to the PUCT staff and stated that it expected the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In May 2018, Entergy Texas filed its 2018 base rate case with the PUCT. Entergy Texas’s proposed rates and revenues reflected the inclusion of the federal income tax reductions due to the Tax Act. The PUCT issued an order in December 2018 establishing that 1) $25 million be credited to customers through a rider to reflect the lower federal income tax rate applicable to Entergy Texas from January 2018 through the date new rates were implemented, 2) $242.5 million of protected excess accumulated deferred income taxes be returned to customers through base rates under the average rate assumption method over the lives of the associated assets, and 3) $185.2 million of unprotected excess accumulated deferred income taxes be returned to customers through a rider. The unprotected excess accumulated deferred income taxes rider includes carrying charges and is in effect over a period of 12 months for larger customers and over a period of four years for other customers. System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging whether there are excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery The Utility operating companies 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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its upcoming energy cost rate redetermination filing that was made in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude from the redetermination of its 2014 energy cost rate $65.9 million of incremental fuel and replacement energy costs incurred in 2013 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 was available regarding various claims associated with the ANO stator incident. In February 2014 the APSC approved Entergy Arkansas’s request to retain that amount in its deferred fuel balance. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. In March 2018, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01547 per kWh to $0.01882 per kWh. The Arkansas Attorney General filed a response to Entergy Arkansas’s annual redetermination filing requesting that the APSC suspend the proposed tariff to investigate the amount of the redetermination or, alternatively, to allow recovery subject to refund. Among the reasons the Attorney General cited for suspension were questions pertaining to how Entergy Arkansas forecasted sales and potential implications of the Tax Act. Entergy Arkansas replied to the Attorney General’s filing and stated that, to the extent there are questions pertaining to its load forecasting or the operation of the energy cost recovery rider, those issues exceed the scope of the instant rate redetermination. Entergy Arkansas also stated that potential effects of the Tax Act are appropriately considered in the APSC’s separate proceeding regarding potential implications of the tax law. The APSC general staff filed a reply to the Attorney General’s filing and agreed that Entergy Arkansas’s filing complied with the terms of the energy cost recovery rider. The redetermined rate became effective with the first billing cycle of April 2018. Subsequently in April 2018 the APSC issued an order declining to suspend Entergy Arkansas’s energy cost recovery rider rate and declining to require further investigation at that time of the issues suggested by the Attorney General in the proceeding. Following a period of discovery, the Attorney General filed a supplemental response in October 2018 raising new issues with Entergy Arkansas’s March 2018 rate redetermination and asserting that $45.7 million of the increase should be collected subject to refund pending further investigation. Entergy Arkansas filed to dismiss the Attorney General’s supplemental response, the APSC general staff filed a motion to strike the Attorney General’s filing, and the Attorney General filed a supplemental response disputing Entergy Arkansas and the APSC staff’s filing. Applicable APSC rules and processes authorize its general staff to initiate periodic audits of Entergy Arkansas’s energy cost recovery rider. In late-2018 the APSC general staff notified Entergy Arkansas it has initiated an audit of the 2017 fuel costs. The time in which the audit will be complete is uncertain at this time. In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied |
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, 2019 and 2018 : Other Regulatory Assets Entergy 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,942.4 $2,611.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 920.4 814.3 Removal costs - recovered through depreciation rates (Note 9) 421.0 375.8 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 372.8 452.7 Retired electric and gas meters - recovered through retail rates as determined by retail regulators (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 205.6 — Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Unamortized loss on reacquired debt - recovered over term of debt 66.6 74.5 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 29.9 52.1 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 21.6 29.0 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 15.7 39.0 Other 150.3 157.7 Entergy Total $5,292.1 $4,746.5 Entergy Arkansas 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $796.5 $747.2 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 433.0 381.7 Removal costs - recovered through depreciation rates (Note 9) 168.9 138.3 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Retired electric meters - recovered over 15-year period through March 2034 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 50.4 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 46.1 60.7 Unamortized loss on reacquired debt - recovered over term of debt 18.3 21.2 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 10.9 12.6 Retail rate deferrals - recovered through rate riders as rates are redetermined annually (b) 2.3 20.5 Other 24.2 36.5 Entergy Arkansas Total $1,666.9 $1,535.0 Entergy Louisiana 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $787.7 $711.8 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 262.5 232.9 Retired electric meters - recovered over a 22-year period through July 2041 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 101.1 — Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 45.7 17.9 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 27.6 49.8 New nuclear generation development costs - recovery through formula rate plan December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 21.2 28.5 Unamortized loss on reacquired debt - recovered over term of debt 20.4 22.5 Business combination external costs deferral - recovery through formula rate plan December 2015 through November 2025 (b) 10.8 12.4 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 9.1 11.0 Other 29.1 18.3 Entergy Louisiana Total $1,315.2 $1,105.1 Entergy Mississippi 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $234.4 $215.9 Removal costs - recovered through depreciation rates (Note 9) 80.8 63.5 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 Unamortized loss on reacquired debt - recovered over term of debt 14.9 16.2 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.8 7.2 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 7.6 16.6 Other 3.0 — Entergy Mississippi Total $378.0 $343.0 Entergy New Orleans 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $85.9 $96.2 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 59.6 70.4 Removal costs - recovered through depreciation rates (Note 9) 52.9 49.3 Retired meters - recovered over a 12-year period through July 2031 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) (b) 24.6 — Retired plant costs - recovered over a 20-year period through July 2039 (Note 2 - Retail Rate Proceedings ) 10.0 — Rate case costs - recovered over a 3-year period through July 2022 (Note 2 - Retail Rate Proceedings ) 7.0 — Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.9 4.5 Algiers customer migration costs - recovered over a 5-year period through July 2024 (Note 2 - Retail Rate Proceedings ) 4.9 — Unamortized loss on reacquired debt - recovered over term of debt 2.3 2.6 Other 7.3 6.8 Entergy New Orleans Total $259.4 $229.8 Entergy Texas 2019 2018 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $221.4 $303.6 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 167.7 171.8 Removal costs - recovered through depreciation rates (Note 9) 42.5 50.9 Retired electric meters - recovered over 13-year period through February 2032 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 28.4 — Neches and Sabine costs - recovered over a 10-year period through September 2028 (Note 2 - Retail Rate Proceedings ) 21.2 23.6 Transition to competition costs - recovered over a 15-year period through February 2021 14.9 26.7 Unamortized loss on reacquired debt - recovered over term of debt 7.7 8.2 Other 8.8 13.2 Entergy Texas Total $512.6 $598.0 System Energy 2019 2018 (In Millions) Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) $210.9 $186.9 Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) 200.3 179.3 Removal costs - recovered through depreciation rates (Note 9) 75.9 76.4 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.8 System Energy Total $490.1 $446.4 (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 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $1,300.1 $815.9 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 62.3 84.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions ) 55.6 55.6 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 51.1 44.4 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.2 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Advanced metering system (AMS) surcharge - return to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 25.3 16.5 Excess decommissioning recovery for Willow Glen - (Note 14 - Dispositions ) 21.2 31.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Income tax rate change - returned to electric and gas customers through retail rates (Note 2 - Retail Rate Proceedings ) 13.9 74.7 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Other 36.6 28.2 Entergy Total $1,961.0 $1,620.3 Entergy Arkansas 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $460.3 $297.2 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 46.6 35.1 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 19.7 30.8 Entergy Arkansas Total $559.6 $402.7 Entergy Louisiana 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $436.5 $274.1 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.1 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Excess decommissioning recovery for Willow Glen - returned over one-year period through retail rates (Note 14 - Dispositions ) 21.2 31.9 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Income tax rate change - returned to electric customers through retail rates September 2018 through August 2019 (Note 2 - Retail Rate Proceedings ) — 49.9 Other 36.8 33.4 Entergy Louisiana Total $794.1 $748.8 Entergy Mississippi 2019 2018 (In Millions) Retail rate deferrals - returned to customers through rate riders as rates are redetermined annually $14.6 $1.3 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 4.5 9.3 Grand Gulf Over-Recovery - returned to customers through rate riders as rates are redetermined annually 2.4 22.6 Other — 0.4 Entergy Mississippi Total $21.5 $33.6 Entergy Texas 2019 2018 (In Millions) Advanced metering system (AMS) surcharge - returned to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) $25.3 $16.5 Income tax rate change - refunded through a rate rider (Note 2 - Retail Rate Proceedings ) 10.4 23.1 Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically 3.8 4.2 Other 2.6 4.1 Entergy Texas Total $42.1 $47.9 System Energy 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $403.3 $244.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions) 55.6 55.6 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Other 12.3 12.3 System Energy Total $533.4 $381.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the December 2017 enactment of the Tax Cuts and Jobs Act, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. Entergy Arkansas Consistent with its previously stated intent to return unprotected excess accumulated deferred income taxes to customers as expeditiously as possible, Entergy Arkansas initiated a tariff proceeding in February 2018 proposing to establish a tax adjustment rider to provide retail customers with certain tax benefits of $467 million associated with the Tax Act. For the residential customer class, unprotected excess accumulated deferred income taxes were returned to customers over a 21-month period from April 2018 through December 2019. For all other customer classes, unprotected excess accumulated deferred income taxes were returned to customers over a nine-month period from April 2018 through December 2018. A true-up provision also was included in the rider, with any over- or under-returned unprotected excess accumulated deferred income taxes credited or billed to customers during the billing month of January 2020, with any residual amounts of over- or under-returned unprotected excess accumulated deferred income taxes to be flowed through Entergy Arkansas’s energy cost recovery rider. In March 2018 the APSC approved the tax adjustment rider effective with the first billing cycle of April 2018. As discussed below, in July 2018, Entergy Arkansas made its formula rate plan filing to set its formula rate for the 2019 calendar year. A hearing was held in May 2018 regarding the APSC’s inquiries into the effects of the Tax Act, including Entergy Arkansas’s proposal to utilize its formula rate plan rider for its customers to realize the remaining benefits of the Tax Act. Entergy Arkansas’s formula rate plan rider included a netting adjustment that compared actual annual results to the allowed rate of return on common equity. In July 2018 the APSC issued an order agreeing with Entergy Arkansas’s proposal to have the effects of the Tax Act on current income tax expense flow through Entergy Arkansas’s formula rate plan rider and with Entergy Arkansas’s treatment of protected and unprotected excess accumulated deferred income taxes. The APSC also directed Entergy Arkansas to submit in the tax adjustment rider proceeding, discussed above, the adjustments to all other riders affected by the Tax Act and to include an amendment for a true up mechanism where a rider affected by the Tax Act does not already contain a true-up mechanism. Pursuant to a 2018 settlement agreement in Entergy Arkansas’s formula rate plan proceeding, Entergy Arkansas also removed the net operating loss accumulated deferred income tax asset caused by the Tax Act from Entergy Arkansas’s tax adjustment rider. Entergy Arkansas’s compliance tariff filings were accepted by the APSC in October 2018. Entergy Louisiana In an electric formula rate plan settlement approved by the LPSC in April 2018 the parties agreed that Entergy Louisiana would return to customers one-half of its eligible unprotected excess deferred income taxes from May 2018 through December 2018 and return to customers the other half from January 2019 through August 2022. In addition, the settlement provided that in order to flow back to customers certain other tax benefits created by the Tax Act, Entergy Louisiana established a regulatory liability effective January 1, 2018 in the amount of $9.1 million per month to reflect these tax benefits already included in retail rates until new base rates under the formula rate plan were established in September 2018, and this regulatory liability was returned to customers over the September 2018 through August 2019 formula rate plan rate-effective period. The LPSC staff and intervenors in the settlement reserved the right to obtain data from Entergy Louisiana to confirm the determination of excess accumulated deferred income taxes resulting from the Tax Act and the analysis thereof as part of the formula rate plan review proceeding for the 2017 test year filing which, as discussed below, Entergy Louisiana filed in June 2018. Entergy Mississippi Entergy Mississippi filed its 2018 formula rate plan in March 2018 and included a proposal to return all of its unprotected excess accumulated deferred income taxes to customers through rates or in exchange for other assets, or a combination of both, by the end of 2018. In June 2018 the MPSC approved a stipulation filed by Entergy Mississippi and the Mississippi Public Utilities Staff in Entergy Mississippi’s formula rate plan filing that addressed Entergy Mississippi’s 2018 formula rate plan evaluation report and the ratemaking effects of the Tax Act. The stipulation provided for incorporating the reduction of the statutory federal income tax rate through Entergy Mississippi’s formula rate plan. The stipulation approved in June 2018 provided for the flow-back of protected excess accumulated deferred income taxes over the remaining lives of the assets through the formula rate plan. The stipulation also provided for the offset of unprotected excess accumulated deferred income taxes of $127.2 million against net utility plant and $2.2 million against other regulatory assets, and the return to customers of the remaining balance of unprotected excess accumulated deferred income taxes as recovery of a portion of fuel oil inventory and customer bill credits over a three-month period from July 2018 through September 2018, with an insignificant true-up reflected in the November 2018 power management rider filing. Entergy Mississippi recorded the reduction against net utility plant and other regulatory assets in June 2018. In third quarter 2018, Entergy Mississippi returned unprotected excess accumulated deferred income taxes of $25.8 million through customer bill credits and $5.8 million through the sale of fuel oil inventory. Entergy New Orleans After enactment of the Tax Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Tax Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Tax Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Tax Act. The City Council’s resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy submitted filings of this type to the FERC. In March 2018, Entergy New Orleans filed its response to the resolution stating that the Tax Act reduced income tax expense from what was then reflected in rates by approximately $8.2 million annually for electric operations and by approximately $1.3 million annually for gas operations. In the filing, Entergy New Orleans proposed to return to customers from June 2018 through August 2019 the benefits of the reduction in income tax expense and its unprotected excess accumulated deferred income taxes through a combination of bill credits and investments in energy efficiency programs, grid modernization, and Smart City projects. Entergy New Orleans submitted supplemental information in April 2018 and May 2018. Shortly thereafter, Entergy New Orleans and the City Council’s advisors reached an agreement in principle that provides for benefits that will be realized by Entergy New Orleans customers through bill credits that started in July 2018 and offsets to future investments in energy efficiency programs, grid modernization, and Smart City projects, as well as additional benefits related to the filings made at the FERC. The agreement in principle was approved by the City Council in June 2018. Entergy Texas After enactment of the Tax Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. Entergy Texas had previously provided information to the PUCT staff and stated that it expected the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In May 2018, Entergy Texas filed its 2018 base rate case with the PUCT. Entergy Texas’s proposed rates and revenues reflected the inclusion of the federal income tax reductions due to the Tax Act. The PUCT issued an order in December 2018 establishing that 1) $25 million be credited to customers through a rider to reflect the lower federal income tax rate applicable to Entergy Texas from January 2018 through the date new rates were implemented, 2) $242.5 million of protected excess accumulated deferred income taxes be returned to customers through base rates under the average rate assumption method over the lives of the associated assets, and 3) $185.2 million of unprotected excess accumulated deferred income taxes be returned to customers through a rider. The unprotected excess accumulated deferred income taxes rider includes carrying charges and is in effect over a period of 12 months for larger customers and over a period of four years for other customers. System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging whether there are excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery The Utility operating companies 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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its upcoming energy cost rate redetermination filing that was made in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude from the redetermination of its 2014 energy cost rate $65.9 million of incremental fuel and replacement energy costs incurred in 2013 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 was available regarding various claims associated with the ANO stator incident. In February 2014 the APSC approved Entergy Arkansas’s request to retain that amount in its deferred fuel balance. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. In March 2018, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01547 per kWh to $0.01882 per kWh. The Arkansas Attorney General filed a response to Entergy Arkansas’s annual redetermination filing requesting that the APSC suspend the proposed tariff to investigate the amount of the redetermination or, alternatively, to allow recovery subject to refund. Among the reasons the Attorney General cited for suspension were questions pertaining to how Entergy Arkansas forecasted sales and potential implications of the Tax Act. Entergy Arkansas replied to the Attorney General’s filing and stated that, to the extent there are questions pertaining to its load forecasting or the operation of the energy cost recovery rider, those issues exceed the scope of the instant rate redetermination. Entergy Arkansas also stated that potential effects of the Tax Act are appropriately considered in the APSC’s separate proceeding regarding potential implications of the tax law. The APSC general staff filed a reply to the Attorney General’s filing and agreed that Entergy Arkansas’s filing complied with the terms of the energy cost recovery rider. The redetermined rate became effective with the first billing cycle of April 2018. Subsequently in April 2018 the APSC issued an order declining to suspend Entergy Arkansas’s energy cost recovery rider rate and declining to require further investigation at that time of the issues suggested by the Attorney General in the proceeding. Following a period of discovery, the Attorney General filed a supplemental response in October 2018 raising new issues with Entergy Arkansas’s March 2018 rate redetermination and asserting that $45.7 million of the increase should be collected subject to refund pending further investigation. Entergy Arkansas filed to dismiss the Attorney General’s supplemental response, the APSC general staff filed a motion to strike the Attorney General’s filing, and the Attorney General filed a supplemental response disputing Entergy Arkansas and the APSC staff’s filing. Applicable APSC rules and processes authorize its general staff to initiate periodic audits of Entergy Arkansas’s energy cost recovery rider. In late-2018 the APSC general staff notified Entergy Arkansas it has initiated an audit of the 2017 fuel costs. The time in which the audit will be complete is uncertain at this time. In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied |
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, 2019 and 2018 : Other Regulatory Assets Entergy 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,942.4 $2,611.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 920.4 814.3 Removal costs - recovered through depreciation rates (Note 9) 421.0 375.8 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 372.8 452.7 Retired electric and gas meters - recovered through retail rates as determined by retail regulators (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 205.6 — Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Unamortized loss on reacquired debt - recovered over term of debt 66.6 74.5 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 29.9 52.1 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 21.6 29.0 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 15.7 39.0 Other 150.3 157.7 Entergy Total $5,292.1 $4,746.5 Entergy Arkansas 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $796.5 $747.2 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 433.0 381.7 Removal costs - recovered through depreciation rates (Note 9) 168.9 138.3 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Retired electric meters - recovered over 15-year period through March 2034 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 50.4 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 46.1 60.7 Unamortized loss on reacquired debt - recovered over term of debt 18.3 21.2 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 10.9 12.6 Retail rate deferrals - recovered through rate riders as rates are redetermined annually (b) 2.3 20.5 Other 24.2 36.5 Entergy Arkansas Total $1,666.9 $1,535.0 Entergy Louisiana 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $787.7 $711.8 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 262.5 232.9 Retired electric meters - recovered over a 22-year period through July 2041 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 101.1 — Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 45.7 17.9 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 27.6 49.8 New nuclear generation development costs - recovery through formula rate plan December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 21.2 28.5 Unamortized loss on reacquired debt - recovered over term of debt 20.4 22.5 Business combination external costs deferral - recovery through formula rate plan December 2015 through November 2025 (b) 10.8 12.4 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 9.1 11.0 Other 29.1 18.3 Entergy Louisiana Total $1,315.2 $1,105.1 Entergy Mississippi 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $234.4 $215.9 Removal costs - recovered through depreciation rates (Note 9) 80.8 63.5 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 Unamortized loss on reacquired debt - recovered over term of debt 14.9 16.2 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.8 7.2 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 7.6 16.6 Other 3.0 — Entergy Mississippi Total $378.0 $343.0 Entergy New Orleans 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $85.9 $96.2 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 59.6 70.4 Removal costs - recovered through depreciation rates (Note 9) 52.9 49.3 Retired meters - recovered over a 12-year period through July 2031 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) (b) 24.6 — Retired plant costs - recovered over a 20-year period through July 2039 (Note 2 - Retail Rate Proceedings ) 10.0 — Rate case costs - recovered over a 3-year period through July 2022 (Note 2 - Retail Rate Proceedings ) 7.0 — Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.9 4.5 Algiers customer migration costs - recovered over a 5-year period through July 2024 (Note 2 - Retail Rate Proceedings ) 4.9 — Unamortized loss on reacquired debt - recovered over term of debt 2.3 2.6 Other 7.3 6.8 Entergy New Orleans Total $259.4 $229.8 Entergy Texas 2019 2018 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $221.4 $303.6 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 167.7 171.8 Removal costs - recovered through depreciation rates (Note 9) 42.5 50.9 Retired electric meters - recovered over 13-year period through February 2032 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 28.4 — Neches and Sabine costs - recovered over a 10-year period through September 2028 (Note 2 - Retail Rate Proceedings ) 21.2 23.6 Transition to competition costs - recovered over a 15-year period through February 2021 14.9 26.7 Unamortized loss on reacquired debt - recovered over term of debt 7.7 8.2 Other 8.8 13.2 Entergy Texas Total $512.6 $598.0 System Energy 2019 2018 (In Millions) Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) $210.9 $186.9 Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) 200.3 179.3 Removal costs - recovered through depreciation rates (Note 9) 75.9 76.4 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.8 System Energy Total $490.1 $446.4 (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 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $1,300.1 $815.9 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 62.3 84.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions ) 55.6 55.6 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 51.1 44.4 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.2 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Advanced metering system (AMS) surcharge - return to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 25.3 16.5 Excess decommissioning recovery for Willow Glen - (Note 14 - Dispositions ) 21.2 31.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Income tax rate change - returned to electric and gas customers through retail rates (Note 2 - Retail Rate Proceedings ) 13.9 74.7 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Other 36.6 28.2 Entergy Total $1,961.0 $1,620.3 Entergy Arkansas 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $460.3 $297.2 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 46.6 35.1 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 19.7 30.8 Entergy Arkansas Total $559.6 $402.7 Entergy Louisiana 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $436.5 $274.1 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.1 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Excess decommissioning recovery for Willow Glen - returned over one-year period through retail rates (Note 14 - Dispositions ) 21.2 31.9 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Income tax rate change - returned to electric customers through retail rates September 2018 through August 2019 (Note 2 - Retail Rate Proceedings ) — 49.9 Other 36.8 33.4 Entergy Louisiana Total $794.1 $748.8 Entergy Mississippi 2019 2018 (In Millions) Retail rate deferrals - returned to customers through rate riders as rates are redetermined annually $14.6 $1.3 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 4.5 9.3 Grand Gulf Over-Recovery - returned to customers through rate riders as rates are redetermined annually 2.4 22.6 Other — 0.4 Entergy Mississippi Total $21.5 $33.6 Entergy Texas 2019 2018 (In Millions) Advanced metering system (AMS) surcharge - returned to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) $25.3 $16.5 Income tax rate change - refunded through a rate rider (Note 2 - Retail Rate Proceedings ) 10.4 23.1 Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically 3.8 4.2 Other 2.6 4.1 Entergy Texas Total $42.1 $47.9 System Energy 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $403.3 $244.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions) 55.6 55.6 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Other 12.3 12.3 System Energy Total $533.4 $381.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the December 2017 enactment of the Tax Cuts and Jobs Act, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. Entergy Arkansas Consistent with its previously stated intent to return unprotected excess accumulated deferred income taxes to customers as expeditiously as possible, Entergy Arkansas initiated a tariff proceeding in February 2018 proposing to establish a tax adjustment rider to provide retail customers with certain tax benefits of $467 million associated with the Tax Act. For the residential customer class, unprotected excess accumulated deferred income taxes were returned to customers over a 21-month period from April 2018 through December 2019. For all other customer classes, unprotected excess accumulated deferred income taxes were returned to customers over a nine-month period from April 2018 through December 2018. A true-up provision also was included in the rider, with any over- or under-returned unprotected excess accumulated deferred income taxes credited or billed to customers during the billing month of January 2020, with any residual amounts of over- or under-returned unprotected excess accumulated deferred income taxes to be flowed through Entergy Arkansas’s energy cost recovery rider. In March 2018 the APSC approved the tax adjustment rider effective with the first billing cycle of April 2018. As discussed below, in July 2018, Entergy Arkansas made its formula rate plan filing to set its formula rate for the 2019 calendar year. A hearing was held in May 2018 regarding the APSC’s inquiries into the effects of the Tax Act, including Entergy Arkansas’s proposal to utilize its formula rate plan rider for its customers to realize the remaining benefits of the Tax Act. Entergy Arkansas’s formula rate plan rider included a netting adjustment that compared actual annual results to the allowed rate of return on common equity. In July 2018 the APSC issued an order agreeing with Entergy Arkansas’s proposal to have the effects of the Tax Act on current income tax expense flow through Entergy Arkansas’s formula rate plan rider and with Entergy Arkansas’s treatment of protected and unprotected excess accumulated deferred income taxes. The APSC also directed Entergy Arkansas to submit in the tax adjustment rider proceeding, discussed above, the adjustments to all other riders affected by the Tax Act and to include an amendment for a true up mechanism where a rider affected by the Tax Act does not already contain a true-up mechanism. Pursuant to a 2018 settlement agreement in Entergy Arkansas’s formula rate plan proceeding, Entergy Arkansas also removed the net operating loss accumulated deferred income tax asset caused by the Tax Act from Entergy Arkansas’s tax adjustment rider. Entergy Arkansas’s compliance tariff filings were accepted by the APSC in October 2018. Entergy Louisiana In an electric formula rate plan settlement approved by the LPSC in April 2018 the parties agreed that Entergy Louisiana would return to customers one-half of its eligible unprotected excess deferred income taxes from May 2018 through December 2018 and return to customers the other half from January 2019 through August 2022. In addition, the settlement provided that in order to flow back to customers certain other tax benefits created by the Tax Act, Entergy Louisiana established a regulatory liability effective January 1, 2018 in the amount of $9.1 million per month to reflect these tax benefits already included in retail rates until new base rates under the formula rate plan were established in September 2018, and this regulatory liability was returned to customers over the September 2018 through August 2019 formula rate plan rate-effective period. The LPSC staff and intervenors in the settlement reserved the right to obtain data from Entergy Louisiana to confirm the determination of excess accumulated deferred income taxes resulting from the Tax Act and the analysis thereof as part of the formula rate plan review proceeding for the 2017 test year filing which, as discussed below, Entergy Louisiana filed in June 2018. Entergy Mississippi Entergy Mississippi filed its 2018 formula rate plan in March 2018 and included a proposal to return all of its unprotected excess accumulated deferred income taxes to customers through rates or in exchange for other assets, or a combination of both, by the end of 2018. In June 2018 the MPSC approved a stipulation filed by Entergy Mississippi and the Mississippi Public Utilities Staff in Entergy Mississippi’s formula rate plan filing that addressed Entergy Mississippi’s 2018 formula rate plan evaluation report and the ratemaking effects of the Tax Act. The stipulation provided for incorporating the reduction of the statutory federal income tax rate through Entergy Mississippi’s formula rate plan. The stipulation approved in June 2018 provided for the flow-back of protected excess accumulated deferred income taxes over the remaining lives of the assets through the formula rate plan. The stipulation also provided for the offset of unprotected excess accumulated deferred income taxes of $127.2 million against net utility plant and $2.2 million against other regulatory assets, and the return to customers of the remaining balance of unprotected excess accumulated deferred income taxes as recovery of a portion of fuel oil inventory and customer bill credits over a three-month period from July 2018 through September 2018, with an insignificant true-up reflected in the November 2018 power management rider filing. Entergy Mississippi recorded the reduction against net utility plant and other regulatory assets in June 2018. In third quarter 2018, Entergy Mississippi returned unprotected excess accumulated deferred income taxes of $25.8 million through customer bill credits and $5.8 million through the sale of fuel oil inventory. Entergy New Orleans After enactment of the Tax Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Tax Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Tax Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Tax Act. The City Council’s resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy submitted filings of this type to the FERC. In March 2018, Entergy New Orleans filed its response to the resolution stating that the Tax Act reduced income tax expense from what was then reflected in rates by approximately $8.2 million annually for electric operations and by approximately $1.3 million annually for gas operations. In the filing, Entergy New Orleans proposed to return to customers from June 2018 through August 2019 the benefits of the reduction in income tax expense and its unprotected excess accumulated deferred income taxes through a combination of bill credits and investments in energy efficiency programs, grid modernization, and Smart City projects. Entergy New Orleans submitted supplemental information in April 2018 and May 2018. Shortly thereafter, Entergy New Orleans and the City Council’s advisors reached an agreement in principle that provides for benefits that will be realized by Entergy New Orleans customers through bill credits that started in July 2018 and offsets to future investments in energy efficiency programs, grid modernization, and Smart City projects, as well as additional benefits related to the filings made at the FERC. The agreement in principle was approved by the City Council in June 2018. Entergy Texas After enactment of the Tax Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. Entergy Texas had previously provided information to the PUCT staff and stated that it expected the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In May 2018, Entergy Texas filed its 2018 base rate case with the PUCT. Entergy Texas’s proposed rates and revenues reflected the inclusion of the federal income tax reductions due to the Tax Act. The PUCT issued an order in December 2018 establishing that 1) $25 million be credited to customers through a rider to reflect the lower federal income tax rate applicable to Entergy Texas from January 2018 through the date new rates were implemented, 2) $242.5 million of protected excess accumulated deferred income taxes be returned to customers through base rates under the average rate assumption method over the lives of the associated assets, and 3) $185.2 million of unprotected excess accumulated deferred income taxes be returned to customers through a rider. The unprotected excess accumulated deferred income taxes rider includes carrying charges and is in effect over a period of 12 months for larger customers and over a period of four years for other customers. System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging whether there are excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery The Utility operating companies 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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its upcoming energy cost rate redetermination filing that was made in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude from the redetermination of its 2014 energy cost rate $65.9 million of incremental fuel and replacement energy costs incurred in 2013 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 was available regarding various claims associated with the ANO stator incident. In February 2014 the APSC approved Entergy Arkansas’s request to retain that amount in its deferred fuel balance. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. In March 2018, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01547 per kWh to $0.01882 per kWh. The Arkansas Attorney General filed a response to Entergy Arkansas’s annual redetermination filing requesting that the APSC suspend the proposed tariff to investigate the amount of the redetermination or, alternatively, to allow recovery subject to refund. Among the reasons the Attorney General cited for suspension were questions pertaining to how Entergy Arkansas forecasted sales and potential implications of the Tax Act. Entergy Arkansas replied to the Attorney General’s filing and stated that, to the extent there are questions pertaining to its load forecasting or the operation of the energy cost recovery rider, those issues exceed the scope of the instant rate redetermination. Entergy Arkansas also stated that potential effects of the Tax Act are appropriately considered in the APSC’s separate proceeding regarding potential implications of the tax law. The APSC general staff filed a reply to the Attorney General’s filing and agreed that Entergy Arkansas’s filing complied with the terms of the energy cost recovery rider. The redetermined rate became effective with the first billing cycle of April 2018. Subsequently in April 2018 the APSC issued an order declining to suspend Entergy Arkansas’s energy cost recovery rider rate and declining to require further investigation at that time of the issues suggested by the Attorney General in the proceeding. Following a period of discovery, the Attorney General filed a supplemental response in October 2018 raising new issues with Entergy Arkansas’s March 2018 rate redetermination and asserting that $45.7 million of the increase should be collected subject to refund pending further investigation. Entergy Arkansas filed to dismiss the Attorney General’s supplemental response, the APSC general staff filed a motion to strike the Attorney General’s filing, and the Attorney General filed a supplemental response disputing Entergy Arkansas and the APSC staff’s filing. Applicable APSC rules and processes authorize its general staff to initiate periodic audits of Entergy Arkansas’s energy cost recovery rider. In late-2018 the APSC general staff notified Entergy Arkansas it has initiated an audit of the 2017 fuel costs. The time in which the audit will be complete is uncertain at this time. In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied |
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, 2019 and 2018 : Other Regulatory Assets Entergy 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,942.4 $2,611.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 920.4 814.3 Removal costs - recovered through depreciation rates (Note 9) 421.0 375.8 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 372.8 452.7 Retired electric and gas meters - recovered through retail rates as determined by retail regulators (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 205.6 — Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Unamortized loss on reacquired debt - recovered over term of debt 66.6 74.5 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 29.9 52.1 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 21.6 29.0 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 15.7 39.0 Other 150.3 157.7 Entergy Total $5,292.1 $4,746.5 Entergy Arkansas 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $796.5 $747.2 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 433.0 381.7 Removal costs - recovered through depreciation rates (Note 9) 168.9 138.3 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Retired electric meters - recovered over 15-year period through March 2034 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 50.4 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 46.1 60.7 Unamortized loss on reacquired debt - recovered over term of debt 18.3 21.2 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 10.9 12.6 Retail rate deferrals - recovered through rate riders as rates are redetermined annually (b) 2.3 20.5 Other 24.2 36.5 Entergy Arkansas Total $1,666.9 $1,535.0 Entergy Louisiana 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $787.7 $711.8 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 262.5 232.9 Retired electric meters - recovered over a 22-year period through July 2041 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 101.1 — Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 45.7 17.9 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 27.6 49.8 New nuclear generation development costs - recovery through formula rate plan December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 21.2 28.5 Unamortized loss on reacquired debt - recovered over term of debt 20.4 22.5 Business combination external costs deferral - recovery through formula rate plan December 2015 through November 2025 (b) 10.8 12.4 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 9.1 11.0 Other 29.1 18.3 Entergy Louisiana Total $1,315.2 $1,105.1 Entergy Mississippi 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $234.4 $215.9 Removal costs - recovered through depreciation rates (Note 9) 80.8 63.5 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 Unamortized loss on reacquired debt - recovered over term of debt 14.9 16.2 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.8 7.2 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 7.6 16.6 Other 3.0 — Entergy Mississippi Total $378.0 $343.0 Entergy New Orleans 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $85.9 $96.2 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 59.6 70.4 Removal costs - recovered through depreciation rates (Note 9) 52.9 49.3 Retired meters - recovered over a 12-year period through July 2031 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) (b) 24.6 — Retired plant costs - recovered over a 20-year period through July 2039 (Note 2 - Retail Rate Proceedings ) 10.0 — Rate case costs - recovered over a 3-year period through July 2022 (Note 2 - Retail Rate Proceedings ) 7.0 — Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.9 4.5 Algiers customer migration costs - recovered over a 5-year period through July 2024 (Note 2 - Retail Rate Proceedings ) 4.9 — Unamortized loss on reacquired debt - recovered over term of debt 2.3 2.6 Other 7.3 6.8 Entergy New Orleans Total $259.4 $229.8 Entergy Texas 2019 2018 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $221.4 $303.6 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 167.7 171.8 Removal costs - recovered through depreciation rates (Note 9) 42.5 50.9 Retired electric meters - recovered over 13-year period through February 2032 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 28.4 — Neches and Sabine costs - recovered over a 10-year period through September 2028 (Note 2 - Retail Rate Proceedings ) 21.2 23.6 Transition to competition costs - recovered over a 15-year period through February 2021 14.9 26.7 Unamortized loss on reacquired debt - recovered over term of debt 7.7 8.2 Other 8.8 13.2 Entergy Texas Total $512.6 $598.0 System Energy 2019 2018 (In Millions) Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) $210.9 $186.9 Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) 200.3 179.3 Removal costs - recovered through depreciation rates (Note 9) 75.9 76.4 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.8 System Energy Total $490.1 $446.4 (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 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $1,300.1 $815.9 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 62.3 84.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions ) 55.6 55.6 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 51.1 44.4 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.2 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Advanced metering system (AMS) surcharge - return to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 25.3 16.5 Excess decommissioning recovery for Willow Glen - (Note 14 - Dispositions ) 21.2 31.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Income tax rate change - returned to electric and gas customers through retail rates (Note 2 - Retail Rate Proceedings ) 13.9 74.7 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Other 36.6 28.2 Entergy Total $1,961.0 $1,620.3 Entergy Arkansas 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $460.3 $297.2 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 46.6 35.1 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 19.7 30.8 Entergy Arkansas Total $559.6 $402.7 Entergy Louisiana 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $436.5 $274.1 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.1 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Excess decommissioning recovery for Willow Glen - returned over one-year period through retail rates (Note 14 - Dispositions ) 21.2 31.9 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Income tax rate change - returned to electric customers through retail rates September 2018 through August 2019 (Note 2 - Retail Rate Proceedings ) — 49.9 Other 36.8 33.4 Entergy Louisiana Total $794.1 $748.8 Entergy Mississippi 2019 2018 (In Millions) Retail rate deferrals - returned to customers through rate riders as rates are redetermined annually $14.6 $1.3 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 4.5 9.3 Grand Gulf Over-Recovery - returned to customers through rate riders as rates are redetermined annually 2.4 22.6 Other — 0.4 Entergy Mississippi Total $21.5 $33.6 Entergy Texas 2019 2018 (In Millions) Advanced metering system (AMS) surcharge - returned to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) $25.3 $16.5 Income tax rate change - refunded through a rate rider (Note 2 - Retail Rate Proceedings ) 10.4 23.1 Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically 3.8 4.2 Other 2.6 4.1 Entergy Texas Total $42.1 $47.9 System Energy 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $403.3 $244.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions) 55.6 55.6 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Other 12.3 12.3 System Energy Total $533.4 $381.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the December 2017 enactment of the Tax Cuts and Jobs Act, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. Entergy Arkansas Consistent with its previously stated intent to return unprotected excess accumulated deferred income taxes to customers as expeditiously as possible, Entergy Arkansas initiated a tariff proceeding in February 2018 proposing to establish a tax adjustment rider to provide retail customers with certain tax benefits of $467 million associated with the Tax Act. For the residential customer class, unprotected excess accumulated deferred income taxes were returned to customers over a 21-month period from April 2018 through December 2019. For all other customer classes, unprotected excess accumulated deferred income taxes were returned to customers over a nine-month period from April 2018 through December 2018. A true-up provision also was included in the rider, with any over- or under-returned unprotected excess accumulated deferred income taxes credited or billed to customers during the billing month of January 2020, with any residual amounts of over- or under-returned unprotected excess accumulated deferred income taxes to be flowed through Entergy Arkansas’s energy cost recovery rider. In March 2018 the APSC approved the tax adjustment rider effective with the first billing cycle of April 2018. As discussed below, in July 2018, Entergy Arkansas made its formula rate plan filing to set its formula rate for the 2019 calendar year. A hearing was held in May 2018 regarding the APSC’s inquiries into the effects of the Tax Act, including Entergy Arkansas’s proposal to utilize its formula rate plan rider for its customers to realize the remaining benefits of the Tax Act. Entergy Arkansas’s formula rate plan rider included a netting adjustment that compared actual annual results to the allowed rate of return on common equity. In July 2018 the APSC issued an order agreeing with Entergy Arkansas’s proposal to have the effects of the Tax Act on current income tax expense flow through Entergy Arkansas’s formula rate plan rider and with Entergy Arkansas’s treatment of protected and unprotected excess accumulated deferred income taxes. The APSC also directed Entergy Arkansas to submit in the tax adjustment rider proceeding, discussed above, the adjustments to all other riders affected by the Tax Act and to include an amendment for a true up mechanism where a rider affected by the Tax Act does not already contain a true-up mechanism. Pursuant to a 2018 settlement agreement in Entergy Arkansas’s formula rate plan proceeding, Entergy Arkansas also removed the net operating loss accumulated deferred income tax asset caused by the Tax Act from Entergy Arkansas’s tax adjustment rider. Entergy Arkansas’s compliance tariff filings were accepted by the APSC in October 2018. Entergy Louisiana In an electric formula rate plan settlement approved by the LPSC in April 2018 the parties agreed that Entergy Louisiana would return to customers one-half of its eligible unprotected excess deferred income taxes from May 2018 through December 2018 and return to customers the other half from January 2019 through August 2022. In addition, the settlement provided that in order to flow back to customers certain other tax benefits created by the Tax Act, Entergy Louisiana established a regulatory liability effective January 1, 2018 in the amount of $9.1 million per month to reflect these tax benefits already included in retail rates until new base rates under the formula rate plan were established in September 2018, and this regulatory liability was returned to customers over the September 2018 through August 2019 formula rate plan rate-effective period. The LPSC staff and intervenors in the settlement reserved the right to obtain data from Entergy Louisiana to confirm the determination of excess accumulated deferred income taxes resulting from the Tax Act and the analysis thereof as part of the formula rate plan review proceeding for the 2017 test year filing which, as discussed below, Entergy Louisiana filed in June 2018. Entergy Mississippi Entergy Mississippi filed its 2018 formula rate plan in March 2018 and included a proposal to return all of its unprotected excess accumulated deferred income taxes to customers through rates or in exchange for other assets, or a combination of both, by the end of 2018. In June 2018 the MPSC approved a stipulation filed by Entergy Mississippi and the Mississippi Public Utilities Staff in Entergy Mississippi’s formula rate plan filing that addressed Entergy Mississippi’s 2018 formula rate plan evaluation report and the ratemaking effects of the Tax Act. The stipulation provided for incorporating the reduction of the statutory federal income tax rate through Entergy Mississippi’s formula rate plan. The stipulation approved in June 2018 provided for the flow-back of protected excess accumulated deferred income taxes over the remaining lives of the assets through the formula rate plan. The stipulation also provided for the offset of unprotected excess accumulated deferred income taxes of $127.2 million against net utility plant and $2.2 million against other regulatory assets, and the return to customers of the remaining balance of unprotected excess accumulated deferred income taxes as recovery of a portion of fuel oil inventory and customer bill credits over a three-month period from July 2018 through September 2018, with an insignificant true-up reflected in the November 2018 power management rider filing. Entergy Mississippi recorded the reduction against net utility plant and other regulatory assets in June 2018. In third quarter 2018, Entergy Mississippi returned unprotected excess accumulated deferred income taxes of $25.8 million through customer bill credits and $5.8 million through the sale of fuel oil inventory. Entergy New Orleans After enactment of the Tax Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Tax Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Tax Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Tax Act. The City Council’s resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy submitted filings of this type to the FERC. In March 2018, Entergy New Orleans filed its response to the resolution stating that the Tax Act reduced income tax expense from what was then reflected in rates by approximately $8.2 million annually for electric operations and by approximately $1.3 million annually for gas operations. In the filing, Entergy New Orleans proposed to return to customers from June 2018 through August 2019 the benefits of the reduction in income tax expense and its unprotected excess accumulated deferred income taxes through a combination of bill credits and investments in energy efficiency programs, grid modernization, and Smart City projects. Entergy New Orleans submitted supplemental information in April 2018 and May 2018. Shortly thereafter, Entergy New Orleans and the City Council’s advisors reached an agreement in principle that provides for benefits that will be realized by Entergy New Orleans customers through bill credits that started in July 2018 and offsets to future investments in energy efficiency programs, grid modernization, and Smart City projects, as well as additional benefits related to the filings made at the FERC. The agreement in principle was approved by the City Council in June 2018. Entergy Texas After enactment of the Tax Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. Entergy Texas had previously provided information to the PUCT staff and stated that it expected the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In May 2018, Entergy Texas filed its 2018 base rate case with the PUCT. Entergy Texas’s proposed rates and revenues reflected the inclusion of the federal income tax reductions due to the Tax Act. The PUCT issued an order in December 2018 establishing that 1) $25 million be credited to customers through a rider to reflect the lower federal income tax rate applicable to Entergy Texas from January 2018 through the date new rates were implemented, 2) $242.5 million of protected excess accumulated deferred income taxes be returned to customers through base rates under the average rate assumption method over the lives of the associated assets, and 3) $185.2 million of unprotected excess accumulated deferred income taxes be returned to customers through a rider. The unprotected excess accumulated deferred income taxes rider includes carrying charges and is in effect over a period of 12 months for larger customers and over a period of four years for other customers. System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging whether there are excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery The Utility operating companies 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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its upcoming energy cost rate redetermination filing that was made in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude from the redetermination of its 2014 energy cost rate $65.9 million of incremental fuel and replacement energy costs incurred in 2013 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 was available regarding various claims associated with the ANO stator incident. In February 2014 the APSC approved Entergy Arkansas’s request to retain that amount in its deferred fuel balance. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. In March 2018, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01547 per kWh to $0.01882 per kWh. The Arkansas Attorney General filed a response to Entergy Arkansas’s annual redetermination filing requesting that the APSC suspend the proposed tariff to investigate the amount of the redetermination or, alternatively, to allow recovery subject to refund. Among the reasons the Attorney General cited for suspension were questions pertaining to how Entergy Arkansas forecasted sales and potential implications of the Tax Act. Entergy Arkansas replied to the Attorney General’s filing and stated that, to the extent there are questions pertaining to its load forecasting or the operation of the energy cost recovery rider, those issues exceed the scope of the instant rate redetermination. Entergy Arkansas also stated that potential effects of the Tax Act are appropriately considered in the APSC’s separate proceeding regarding potential implications of the tax law. The APSC general staff filed a reply to the Attorney General’s filing and agreed that Entergy Arkansas’s filing complied with the terms of the energy cost recovery rider. The redetermined rate became effective with the first billing cycle of April 2018. Subsequently in April 2018 the APSC issued an order declining to suspend Entergy Arkansas’s energy cost recovery rider rate and declining to require further investigation at that time of the issues suggested by the Attorney General in the proceeding. Following a period of discovery, the Attorney General filed a supplemental response in October 2018 raising new issues with Entergy Arkansas’s March 2018 rate redetermination and asserting that $45.7 million of the increase should be collected subject to refund pending further investigation. Entergy Arkansas filed to dismiss the Attorney General’s supplemental response, the APSC general staff filed a motion to strike the Attorney General’s filing, and the Attorney General filed a supplemental response disputing Entergy Arkansas and the APSC staff’s filing. Applicable APSC rules and processes authorize its general staff to initiate periodic audits of Entergy Arkansas’s energy cost recovery rider. In late-2018 the APSC general staff notified Entergy Arkansas it has initiated an audit of the 2017 fuel costs. The time in which the audit will be complete is uncertain at this time. In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2019 , 2018 , and 2017 for Entergy Corporation and Subsidiaries consist of the following: 2019 2018 2017 (In Thousands) Current: Federal ($14,416 ) $36,848 $29,595 State 6,535 7,274 15,478 Total (7,881 ) 44,122 45,073 Deferred and non-current - net (155,956 ) (1,074,416 ) 505,010 Investment tax credit adjustments - net (5,988 ) (6,532 ) (7,513 ) Income taxes ($169,825 ) ($1,036,826 ) $542,570 Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 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 2019 , 2018 , and 2017 are: 2019 2018 2017 (In Thousands) Net income (loss) attributable to Entergy Corporation $1,241,226 $848,661 $411,612 Preferred dividend requirements of subsidiaries 17,018 13,894 13,741 Consolidated net income (loss) 1,258,244 862,555 425,353 Income taxes (169,825 ) (1,036,826 ) 542,570 Income (loss) before income taxes $1,088,419 ($174,271 ) $967,923 Computed at statutory rate (21% for 2019 and 2018) (35% for 2017) $228,568 ($36,597 ) $338,773 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 61,791 21,398 44,179 Regulatory differences - utility plant items (45,336 ) (37,507 ) 39,825 Equity component of AFUDC (30,444 ) (27,216 ) (33,282 ) Amortization of investment tax credits (8,093 ) (8,304 ) (10,204 ) Flow-through / permanent differences (2,059 ) 439 8,727 Tax legislation enactment (a) — — 560,410 Amortization of excess ADIT (a) (205,614 ) (577,082 ) — Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding — (40,494 ) — Utility restructuring (b) — (169,918 ) — Settlement on treatment of regulatory obligations (c) — (52,320 ) — State income tax audit conclusion — (23,425 ) — IRS audit adjustment — (8,404 ) — Entergy Wholesale Commodities nuclear decommissioning trust restructuring (d) — (106,833 ) — Entergy Wholesale Commodities restructuring (d) (173,725 ) — (373,277 ) FitzPatrick disposition — — (44,344 ) Charitable contribution (d) (19,101 ) — — Net operating loss recognition (41,427 ) — — Provision for uncertain tax positions 7,332 24,569 8,756 Valuation allowance 59,345 2,211 — Other - net (1,062 ) 2,657 3,007 Total income taxes as reported ($169,825 ) ($1,036,826 ) $542,570 Effective Income Tax Rate (15.6 %) 595.0 % 56.1 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (b) See “ Other Tax Matters - Entergy Arkansas and Entergy Mississippi Internal Restructuring ” below for discussion of the Utility restructuring. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement. (d) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities nuclear decommissioning trust restructuring in 2018, the Entergy Wholesale Commodities restructurings in 2017 and 2019, and the charitable contribution in 2019. 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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($4,111,761 ) ($3,835,211 ) Regulatory assets (389,573 ) (370,484 ) Nuclear decommissioning trusts/receivables (1,015,542 ) (1,128,140 ) Pension, net funding (348,260 ) (307,626 ) Combined unitary state taxes (11,519 ) (9,440 ) Power purchase agreements — (73,335 ) Deferred fuel (8,360 ) (29,953 ) Other (445,378 ) (248,997 ) Total (6,330,393 ) (6,003,186 ) Deferred tax assets: Nuclear decommissioning liabilities 929,251 1,070,583 Regulatory liabilities 806,777 895,756 Pension and other post-employment benefits 297,272 305,736 Sale and leaseback 102,420 121,473 Compensation 87,355 86,461 Accumulated deferred investment tax credit 56,013 57,643 Provision for allowances and contingencies 126,886 135,631 Power purchase agreements 231,502 — Unbilled/deferred revenues (10,218 ) 43,762 Net operating loss carryforwards 1,133,197 628,165 Capital losses and miscellaneous tax credits 22,597 20,549 Valuation allowance (303,307 ) (243,726 ) Other 289,557 125,522 Total 3,769,302 3,247,555 Non-current accrued taxes (including unrecognized tax benefits) (1,775,638 ) (1,296,928 ) Accumulated deferred income taxes and taxes accrued ($4,336,729 ) ($4,052,559 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses before 1/1/2018 $9.8 billion 2023-2037 Federal net operating losses - 1/1/2018 forward $10.7 billion N/A State net operating losses $20.8 billion 2020-2039 Federal and state charitable contributions $395.8 million 2020-2024 Miscellaneous federal and state credits $101.1 million 2020-2038 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. Entergy evaluates the available positive and negative evidence to estimate whether sufficient future taxable income of the appropriate character will be generated to realize the benefits of existing deferred tax assets. When the evaluation indicates that Entergy will not be able to realize the existing benefits, a valuation allowance is recorded to reduce deferred tax assets to the realizable amount. Because it is more likely than not that the benefit from certain state net operating loss and other deferred tax assets will not be utilized, valuation allowances totaling $303 million as of December 31, 2019 and $244 million as of December 31, 2018 have been provided on the deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize certain separate company tax return attributes, 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 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: 2019 2018 2017 (In Thousands) Gross balance at January 1 $7,181,482 $4,871,846 $3,909,855 Additions based on tax positions related to the current year 731,276 2,276,614 1,120,687 Additions for tax positions of prior years 151,628 506,142 283,683 Reductions for tax positions of prior years (681,232 ) (274,600 ) (442,379 ) Settlements — (198,520 ) — Gross balance at December 31 7,383,154 7,181,482 4,871,846 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (5,831,587 ) (5,957,992 ) (3,945,524 ) Cash paid to taxing authorities (10,000 ) (10,000 ) (10,000 ) Unrecognized tax benefits net of unused tax attributes, refund claims and payments (a) $1,541,567 $1,213,490 $916,322 (a) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $2,421 million , $2,161 million , and $1,462 million as of December 31, 2019 , 2018 , and 2017 , 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 $4,962 million, $5,020 million , and $3,410 million as of December 31, 2019 , 2018 , and 2017 , 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, 2019 , 2018 , and 2017 accrued balance for the possible payment of interest is approximately $48 million , $44 million , and $38 million , respectively. Interest (net-of-tax) of $4 million , $7 million , and $8 million was recorded in 2019, 2018, and 2017, respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 The Registrant Subsidiaries record interest and penalties related to unrecognized tax benefits in income tax expense. No penalties were recorded in 2019 , 2018 , and 2017 . Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 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 2014. All state taxing authorities’ examinations are complete for years before 2015. 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. 2012-2013 IRS Audit The IRS completed its examination of the 2012 and 2013 tax years and issued its 2012-2013 Revenue Agent Report (RAR) in June 2018. Entergy agreed to all proposed adjustments contained in the RAR. Entergy and the Registrant Subsidiaries recorded the effects of these adjustments in June 2018. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits of $52 million related to the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing. 2014-2015 IRS Audit The IRS is examining the 2014 and 2015 tax years. Entergy expects the IRS to complete this examination in 2020. As of December 31, 2019, Entergy has not received any proposed adjustments to taxable income from the IRS. Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries was the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense to 30 percent of adjusted taxable income which is similar to earnings before interest, taxes, depreciation, and amortization. The limitation does not apply to interest expense that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. The IRS issued proposed regulations relating to this limitation in November 2018. The regulations are generally proposed to be effective for taxable years ending after the date Treasury adopts the regulations as final. Taxpayers may apply the rules of the proposed regulations to a taxable year beginning after December 31, 2017, so long as taxpayers consistently apply the rules of the proposed regulations. The proposed regulations provide guidance that if 90% of a tax group’s consolidated assets consist of utility property, the entire consolidated tax group will be treated as a regulated public utility and all of the consolidated group’s interest expense will be currently tax deductible. As a result of the limitation under the Act, Entergy recorded limitations in 2018 and 2019 and recorded a deferred tax asset on the nondeductible portion, as it has an unlimited carryover period. Entergy recorded a valuation allowance of $24 million due to a lack of earnings from sources other than the Utility. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act does not allow a carryback period but does provide for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The IRS issued proposed regulations relating to this limitation in December 2019. The significant provisions of the Act and associated proposed regulations require inclusion of performance-based compensation and an expanded definition of “covered employees” in the annual computation of the section 162 limitation. The Act amendments and associated proposed regulations resulted in an increase in disallowed compensation expense, but this limitation does not have a material effect on Entergy or the Registrant Subsidiaries. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries recorded a regulatory liability associated with the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” a significant portion of which has been paid to customers in 2018 and 2019 in the form of lower rates. Entergy’s December 31, 2019 and December 31, 2018 balance sheets reflect a regulatory liability of $1.7 billion and $2.1 billion , respectively, as a result of the re-measurement of deferred tax assets and liabilities from the income tax rate change, amortization of excess ADIT, and payments to customers during 2018 and 2019. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orl |
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 2019 , 2018 , and 2017 for Entergy Corporation and Subsidiaries consist of the following: 2019 2018 2017 (In Thousands) Current: Federal ($14,416 ) $36,848 $29,595 State 6,535 7,274 15,478 Total (7,881 ) 44,122 45,073 Deferred and non-current - net (155,956 ) (1,074,416 ) 505,010 Investment tax credit adjustments - net (5,988 ) (6,532 ) (7,513 ) Income taxes ($169,825 ) ($1,036,826 ) $542,570 Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 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 2019 , 2018 , and 2017 are: 2019 2018 2017 (In Thousands) Net income (loss) attributable to Entergy Corporation $1,241,226 $848,661 $411,612 Preferred dividend requirements of subsidiaries 17,018 13,894 13,741 Consolidated net income (loss) 1,258,244 862,555 425,353 Income taxes (169,825 ) (1,036,826 ) 542,570 Income (loss) before income taxes $1,088,419 ($174,271 ) $967,923 Computed at statutory rate (21% for 2019 and 2018) (35% for 2017) $228,568 ($36,597 ) $338,773 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 61,791 21,398 44,179 Regulatory differences - utility plant items (45,336 ) (37,507 ) 39,825 Equity component of AFUDC (30,444 ) (27,216 ) (33,282 ) Amortization of investment tax credits (8,093 ) (8,304 ) (10,204 ) Flow-through / permanent differences (2,059 ) 439 8,727 Tax legislation enactment (a) — — 560,410 Amortization of excess ADIT (a) (205,614 ) (577,082 ) — Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding — (40,494 ) — Utility restructuring (b) — (169,918 ) — Settlement on treatment of regulatory obligations (c) — (52,320 ) — State income tax audit conclusion — (23,425 ) — IRS audit adjustment — (8,404 ) — Entergy Wholesale Commodities nuclear decommissioning trust restructuring (d) — (106,833 ) — Entergy Wholesale Commodities restructuring (d) (173,725 ) — (373,277 ) FitzPatrick disposition — — (44,344 ) Charitable contribution (d) (19,101 ) — — Net operating loss recognition (41,427 ) — — Provision for uncertain tax positions 7,332 24,569 8,756 Valuation allowance 59,345 2,211 — Other - net (1,062 ) 2,657 3,007 Total income taxes as reported ($169,825 ) ($1,036,826 ) $542,570 Effective Income Tax Rate (15.6 %) 595.0 % 56.1 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (b) See “ Other Tax Matters - Entergy Arkansas and Entergy Mississippi Internal Restructuring ” below for discussion of the Utility restructuring. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement. (d) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities nuclear decommissioning trust restructuring in 2018, the Entergy Wholesale Commodities restructurings in 2017 and 2019, and the charitable contribution in 2019. 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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($4,111,761 ) ($3,835,211 ) Regulatory assets (389,573 ) (370,484 ) Nuclear decommissioning trusts/receivables (1,015,542 ) (1,128,140 ) Pension, net funding (348,260 ) (307,626 ) Combined unitary state taxes (11,519 ) (9,440 ) Power purchase agreements — (73,335 ) Deferred fuel (8,360 ) (29,953 ) Other (445,378 ) (248,997 ) Total (6,330,393 ) (6,003,186 ) Deferred tax assets: Nuclear decommissioning liabilities 929,251 1,070,583 Regulatory liabilities 806,777 895,756 Pension and other post-employment benefits 297,272 305,736 Sale and leaseback 102,420 121,473 Compensation 87,355 86,461 Accumulated deferred investment tax credit 56,013 57,643 Provision for allowances and contingencies 126,886 135,631 Power purchase agreements 231,502 — Unbilled/deferred revenues (10,218 ) 43,762 Net operating loss carryforwards 1,133,197 628,165 Capital losses and miscellaneous tax credits 22,597 20,549 Valuation allowance (303,307 ) (243,726 ) Other 289,557 125,522 Total 3,769,302 3,247,555 Non-current accrued taxes (including unrecognized tax benefits) (1,775,638 ) (1,296,928 ) Accumulated deferred income taxes and taxes accrued ($4,336,729 ) ($4,052,559 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses before 1/1/2018 $9.8 billion 2023-2037 Federal net operating losses - 1/1/2018 forward $10.7 billion N/A State net operating losses $20.8 billion 2020-2039 Federal and state charitable contributions $395.8 million 2020-2024 Miscellaneous federal and state credits $101.1 million 2020-2038 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. Entergy evaluates the available positive and negative evidence to estimate whether sufficient future taxable income of the appropriate character will be generated to realize the benefits of existing deferred tax assets. When the evaluation indicates that Entergy will not be able to realize the existing benefits, a valuation allowance is recorded to reduce deferred tax assets to the realizable amount. Because it is more likely than not that the benefit from certain state net operating loss and other deferred tax assets will not be utilized, valuation allowances totaling $303 million as of December 31, 2019 and $244 million as of December 31, 2018 have been provided on the deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize certain separate company tax return attributes, 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 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: 2019 2018 2017 (In Thousands) Gross balance at January 1 $7,181,482 $4,871,846 $3,909,855 Additions based on tax positions related to the current year 731,276 2,276,614 1,120,687 Additions for tax positions of prior years 151,628 506,142 283,683 Reductions for tax positions of prior years (681,232 ) (274,600 ) (442,379 ) Settlements — (198,520 ) — Gross balance at December 31 7,383,154 7,181,482 4,871,846 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (5,831,587 ) (5,957,992 ) (3,945,524 ) Cash paid to taxing authorities (10,000 ) (10,000 ) (10,000 ) Unrecognized tax benefits net of unused tax attributes, refund claims and payments (a) $1,541,567 $1,213,490 $916,322 (a) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $2,421 million , $2,161 million , and $1,462 million as of December 31, 2019 , 2018 , and 2017 , 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 $4,962 million, $5,020 million , and $3,410 million as of December 31, 2019 , 2018 , and 2017 , 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, 2019 , 2018 , and 2017 accrued balance for the possible payment of interest is approximately $48 million , $44 million , and $38 million , respectively. Interest (net-of-tax) of $4 million , $7 million , and $8 million was recorded in 2019, 2018, and 2017, respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 The Registrant Subsidiaries record interest and penalties related to unrecognized tax benefits in income tax expense. No penalties were recorded in 2019 , 2018 , and 2017 . Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 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 2014. All state taxing authorities’ examinations are complete for years before 2015. 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. 2012-2013 IRS Audit The IRS completed its examination of the 2012 and 2013 tax years and issued its 2012-2013 Revenue Agent Report (RAR) in June 2018. Entergy agreed to all proposed adjustments contained in the RAR. Entergy and the Registrant Subsidiaries recorded the effects of these adjustments in June 2018. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits of $52 million related to the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing. 2014-2015 IRS Audit The IRS is examining the 2014 and 2015 tax years. Entergy expects the IRS to complete this examination in 2020. As of December 31, 2019, Entergy has not received any proposed adjustments to taxable income from the IRS. Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries was the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense to 30 percent of adjusted taxable income which is similar to earnings before interest, taxes, depreciation, and amortization. The limitation does not apply to interest expense that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. The IRS issued proposed regulations relating to this limitation in November 2018. The regulations are generally proposed to be effective for taxable years ending after the date Treasury adopts the regulations as final. Taxpayers may apply the rules of the proposed regulations to a taxable year beginning after December 31, 2017, so long as taxpayers consistently apply the rules of the proposed regulations. The proposed regulations provide guidance that if 90% of a tax group’s consolidated assets consist of utility property, the entire consolidated tax group will be treated as a regulated public utility and all of the consolidated group’s interest expense will be currently tax deductible. As a result of the limitation under the Act, Entergy recorded limitations in 2018 and 2019 and recorded a deferred tax asset on the nondeductible portion, as it has an unlimited carryover period. Entergy recorded a valuation allowance of $24 million due to a lack of earnings from sources other than the Utility. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act does not allow a carryback period but does provide for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The IRS issued proposed regulations relating to this limitation in December 2019. The significant provisions of the Act and associated proposed regulations require inclusion of performance-based compensation and an expanded definition of “covered employees” in the annual computation of the section 162 limitation. The Act amendments and associated proposed regulations resulted in an increase in disallowed compensation expense, but this limitation does not have a material effect on Entergy or the Registrant Subsidiaries. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries recorded a regulatory liability associated with the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” a significant portion of which has been paid to customers in 2018 and 2019 in the form of lower rates. Entergy’s December 31, 2019 and December 31, 2018 balance sheets reflect a regulatory liability of $1.7 billion and $2.1 billion , respectively, as a result of the re-measurement of deferred tax assets and liabilities from the income tax rate change, amortization of excess ADIT, and payments to customers during 2018 and 2019. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orl |
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 2019 , 2018 , and 2017 for Entergy Corporation and Subsidiaries consist of the following: 2019 2018 2017 (In Thousands) Current: Federal ($14,416 ) $36,848 $29,595 State 6,535 7,274 15,478 Total (7,881 ) 44,122 45,073 Deferred and non-current - net (155,956 ) (1,074,416 ) 505,010 Investment tax credit adjustments - net (5,988 ) (6,532 ) (7,513 ) Income taxes ($169,825 ) ($1,036,826 ) $542,570 Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 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 2019 , 2018 , and 2017 are: 2019 2018 2017 (In Thousands) Net income (loss) attributable to Entergy Corporation $1,241,226 $848,661 $411,612 Preferred dividend requirements of subsidiaries 17,018 13,894 13,741 Consolidated net income (loss) 1,258,244 862,555 425,353 Income taxes (169,825 ) (1,036,826 ) 542,570 Income (loss) before income taxes $1,088,419 ($174,271 ) $967,923 Computed at statutory rate (21% for 2019 and 2018) (35% for 2017) $228,568 ($36,597 ) $338,773 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 61,791 21,398 44,179 Regulatory differences - utility plant items (45,336 ) (37,507 ) 39,825 Equity component of AFUDC (30,444 ) (27,216 ) (33,282 ) Amortization of investment tax credits (8,093 ) (8,304 ) (10,204 ) Flow-through / permanent differences (2,059 ) 439 8,727 Tax legislation enactment (a) — — 560,410 Amortization of excess ADIT (a) (205,614 ) (577,082 ) — Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding — (40,494 ) — Utility restructuring (b) — (169,918 ) — Settlement on treatment of regulatory obligations (c) — (52,320 ) — State income tax audit conclusion — (23,425 ) — IRS audit adjustment — (8,404 ) — Entergy Wholesale Commodities nuclear decommissioning trust restructuring (d) — (106,833 ) — Entergy Wholesale Commodities restructuring (d) (173,725 ) — (373,277 ) FitzPatrick disposition — — (44,344 ) Charitable contribution (d) (19,101 ) — — Net operating loss recognition (41,427 ) — — Provision for uncertain tax positions 7,332 24,569 8,756 Valuation allowance 59,345 2,211 — Other - net (1,062 ) 2,657 3,007 Total income taxes as reported ($169,825 ) ($1,036,826 ) $542,570 Effective Income Tax Rate (15.6 %) 595.0 % 56.1 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (b) See “ Other Tax Matters - Entergy Arkansas and Entergy Mississippi Internal Restructuring ” below for discussion of the Utility restructuring. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement. (d) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities nuclear decommissioning trust restructuring in 2018, the Entergy Wholesale Commodities restructurings in 2017 and 2019, and the charitable contribution in 2019. 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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($4,111,761 ) ($3,835,211 ) Regulatory assets (389,573 ) (370,484 ) Nuclear decommissioning trusts/receivables (1,015,542 ) (1,128,140 ) Pension, net funding (348,260 ) (307,626 ) Combined unitary state taxes (11,519 ) (9,440 ) Power purchase agreements — (73,335 ) Deferred fuel (8,360 ) (29,953 ) Other (445,378 ) (248,997 ) Total (6,330,393 ) (6,003,186 ) Deferred tax assets: Nuclear decommissioning liabilities 929,251 1,070,583 Regulatory liabilities 806,777 895,756 Pension and other post-employment benefits 297,272 305,736 Sale and leaseback 102,420 121,473 Compensation 87,355 86,461 Accumulated deferred investment tax credit 56,013 57,643 Provision for allowances and contingencies 126,886 135,631 Power purchase agreements 231,502 — Unbilled/deferred revenues (10,218 ) 43,762 Net operating loss carryforwards 1,133,197 628,165 Capital losses and miscellaneous tax credits 22,597 20,549 Valuation allowance (303,307 ) (243,726 ) Other 289,557 125,522 Total 3,769,302 3,247,555 Non-current accrued taxes (including unrecognized tax benefits) (1,775,638 ) (1,296,928 ) Accumulated deferred income taxes and taxes accrued ($4,336,729 ) ($4,052,559 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses before 1/1/2018 $9.8 billion 2023-2037 Federal net operating losses - 1/1/2018 forward $10.7 billion N/A State net operating losses $20.8 billion 2020-2039 Federal and state charitable contributions $395.8 million 2020-2024 Miscellaneous federal and state credits $101.1 million 2020-2038 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. Entergy evaluates the available positive and negative evidence to estimate whether sufficient future taxable income of the appropriate character will be generated to realize the benefits of existing deferred tax assets. When the evaluation indicates that Entergy will not be able to realize the existing benefits, a valuation allowance is recorded to reduce deferred tax assets to the realizable amount. Because it is more likely than not that the benefit from certain state net operating loss and other deferred tax assets will not be utilized, valuation allowances totaling $303 million as of December 31, 2019 and $244 million as of December 31, 2018 have been provided on the deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize certain separate company tax return attributes, 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 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: 2019 2018 2017 (In Thousands) Gross balance at January 1 $7,181,482 $4,871,846 $3,909,855 Additions based on tax positions related to the current year 731,276 2,276,614 1,120,687 Additions for tax positions of prior years 151,628 506,142 283,683 Reductions for tax positions of prior years (681,232 ) (274,600 ) (442,379 ) Settlements — (198,520 ) — Gross balance at December 31 7,383,154 7,181,482 4,871,846 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (5,831,587 ) (5,957,992 ) (3,945,524 ) Cash paid to taxing authorities (10,000 ) (10,000 ) (10,000 ) Unrecognized tax benefits net of unused tax attributes, refund claims and payments (a) $1,541,567 $1,213,490 $916,322 (a) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $2,421 million , $2,161 million , and $1,462 million as of December 31, 2019 , 2018 , and 2017 , 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 $4,962 million, $5,020 million , and $3,410 million as of December 31, 2019 , 2018 , and 2017 , 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, 2019 , 2018 , and 2017 accrued balance for the possible payment of interest is approximately $48 million , $44 million , and $38 million , respectively. Interest (net-of-tax) of $4 million , $7 million , and $8 million was recorded in 2019, 2018, and 2017, respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 The Registrant Subsidiaries record interest and penalties related to unrecognized tax benefits in income tax expense. No penalties were recorded in 2019 , 2018 , and 2017 . Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 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 2014. All state taxing authorities’ examinations are complete for years before 2015. 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. 2012-2013 IRS Audit The IRS completed its examination of the 2012 and 2013 tax years and issued its 2012-2013 Revenue Agent Report (RAR) in June 2018. Entergy agreed to all proposed adjustments contained in the RAR. Entergy and the Registrant Subsidiaries recorded the effects of these adjustments in June 2018. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits of $52 million related to the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing. 2014-2015 IRS Audit The IRS is examining the 2014 and 2015 tax years. Entergy expects the IRS to complete this examination in 2020. As of December 31, 2019, Entergy has not received any proposed adjustments to taxable income from the IRS. Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries was the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense to 30 percent of adjusted taxable income which is similar to earnings before interest, taxes, depreciation, and amortization. The limitation does not apply to interest expense that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. The IRS issued proposed regulations relating to this limitation in November 2018. The regulations are generally proposed to be effective for taxable years ending after the date Treasury adopts the regulations as final. Taxpayers may apply the rules of the proposed regulations to a taxable year beginning after December 31, 2017, so long as taxpayers consistently apply the rules of the proposed regulations. The proposed regulations provide guidance that if 90% of a tax group’s consolidated assets consist of utility property, the entire consolidated tax group will be treated as a regulated public utility and all of the consolidated group’s interest expense will be currently tax deductible. As a result of the limitation under the Act, Entergy recorded limitations in 2018 and 2019 and recorded a deferred tax asset on the nondeductible portion, as it has an unlimited carryover period. Entergy recorded a valuation allowance of $24 million due to a lack of earnings from sources other than the Utility. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act does not allow a carryback period but does provide for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The IRS issued proposed regulations relating to this limitation in December 2019. The significant provisions of the Act and associated proposed regulations require inclusion of performance-based compensation and an expanded definition of “covered employees” in the annual computation of the section 162 limitation. The Act amendments and associated proposed regulations resulted in an increase in disallowed compensation expense, but this limitation does not have a material effect on Entergy or the Registrant Subsidiaries. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries recorded a regulatory liability associated with the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” a significant portion of which has been paid to customers in 2018 and 2019 in the form of lower rates. Entergy’s December 31, 2019 and December 31, 2018 balance sheets reflect a regulatory liability of $1.7 billion and $2.1 billion , respectively, as a result of the re-measurement of deferred tax assets and liabilities from the income tax rate change, amortization of excess ADIT, and payments to customers during 2018 and 2019. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orl |
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 2019 , 2018 , and 2017 for Entergy Corporation and Subsidiaries consist of the following: 2019 2018 2017 (In Thousands) Current: Federal ($14,416 ) $36,848 $29,595 State 6,535 7,274 15,478 Total (7,881 ) 44,122 45,073 Deferred and non-current - net (155,956 ) (1,074,416 ) 505,010 Investment tax credit adjustments - net (5,988 ) (6,532 ) (7,513 ) Income taxes ($169,825 ) ($1,036,826 ) $542,570 Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 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 2019 , 2018 , and 2017 are: 2019 2018 2017 (In Thousands) Net income (loss) attributable to Entergy Corporation $1,241,226 $848,661 $411,612 Preferred dividend requirements of subsidiaries 17,018 13,894 13,741 Consolidated net income (loss) 1,258,244 862,555 425,353 Income taxes (169,825 ) (1,036,826 ) 542,570 Income (loss) before income taxes $1,088,419 ($174,271 ) $967,923 Computed at statutory rate (21% for 2019 and 2018) (35% for 2017) $228,568 ($36,597 ) $338,773 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 61,791 21,398 44,179 Regulatory differences - utility plant items (45,336 ) (37,507 ) 39,825 Equity component of AFUDC (30,444 ) (27,216 ) (33,282 ) Amortization of investment tax credits (8,093 ) (8,304 ) (10,204 ) Flow-through / permanent differences (2,059 ) 439 8,727 Tax legislation enactment (a) — — 560,410 Amortization of excess ADIT (a) (205,614 ) (577,082 ) — Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding — (40,494 ) — Utility restructuring (b) — (169,918 ) — Settlement on treatment of regulatory obligations (c) — (52,320 ) — State income tax audit conclusion — (23,425 ) — IRS audit adjustment — (8,404 ) — Entergy Wholesale Commodities nuclear decommissioning trust restructuring (d) — (106,833 ) — Entergy Wholesale Commodities restructuring (d) (173,725 ) — (373,277 ) FitzPatrick disposition — — (44,344 ) Charitable contribution (d) (19,101 ) — — Net operating loss recognition (41,427 ) — — Provision for uncertain tax positions 7,332 24,569 8,756 Valuation allowance 59,345 2,211 — Other - net (1,062 ) 2,657 3,007 Total income taxes as reported ($169,825 ) ($1,036,826 ) $542,570 Effective Income Tax Rate (15.6 %) 595.0 % 56.1 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (b) See “ Other Tax Matters - Entergy Arkansas and Entergy Mississippi Internal Restructuring ” below for discussion of the Utility restructuring. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement. (d) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities nuclear decommissioning trust restructuring in 2018, the Entergy Wholesale Commodities restructurings in 2017 and 2019, and the charitable contribution in 2019. 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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($4,111,761 ) ($3,835,211 ) Regulatory assets (389,573 ) (370,484 ) Nuclear decommissioning trusts/receivables (1,015,542 ) (1,128,140 ) Pension, net funding (348,260 ) (307,626 ) Combined unitary state taxes (11,519 ) (9,440 ) Power purchase agreements — (73,335 ) Deferred fuel (8,360 ) (29,953 ) Other (445,378 ) (248,997 ) Total (6,330,393 ) (6,003,186 ) Deferred tax assets: Nuclear decommissioning liabilities 929,251 1,070,583 Regulatory liabilities 806,777 895,756 Pension and other post-employment benefits 297,272 305,736 Sale and leaseback 102,420 121,473 Compensation 87,355 86,461 Accumulated deferred investment tax credit 56,013 57,643 Provision for allowances and contingencies 126,886 135,631 Power purchase agreements 231,502 — Unbilled/deferred revenues (10,218 ) 43,762 Net operating loss carryforwards 1,133,197 628,165 Capital losses and miscellaneous tax credits 22,597 20,549 Valuation allowance (303,307 ) (243,726 ) Other 289,557 125,522 Total 3,769,302 3,247,555 Non-current accrued taxes (including unrecognized tax benefits) (1,775,638 ) (1,296,928 ) Accumulated deferred income taxes and taxes accrued ($4,336,729 ) ($4,052,559 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses before 1/1/2018 $9.8 billion 2023-2037 Federal net operating losses - 1/1/2018 forward $10.7 billion N/A State net operating losses $20.8 billion 2020-2039 Federal and state charitable contributions $395.8 million 2020-2024 Miscellaneous federal and state credits $101.1 million 2020-2038 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. Entergy evaluates the available positive and negative evidence to estimate whether sufficient future taxable income of the appropriate character will be generated to realize the benefits of existing deferred tax assets. When the evaluation indicates that Entergy will not be able to realize the existing benefits, a valuation allowance is recorded to reduce deferred tax assets to the realizable amount. Because it is more likely than not that the benefit from certain state net operating loss and other deferred tax assets will not be utilized, valuation allowances totaling $303 million as of December 31, 2019 and $244 million as of December 31, 2018 have been provided on the deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize certain separate company tax return attributes, 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 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: 2019 2018 2017 (In Thousands) Gross balance at January 1 $7,181,482 $4,871,846 $3,909,855 Additions based on tax positions related to the current year 731,276 2,276,614 1,120,687 Additions for tax positions of prior years 151,628 506,142 283,683 Reductions for tax positions of prior years (681,232 ) (274,600 ) (442,379 ) Settlements — (198,520 ) — Gross balance at December 31 7,383,154 7,181,482 4,871,846 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (5,831,587 ) (5,957,992 ) (3,945,524 ) Cash paid to taxing authorities (10,000 ) (10,000 ) (10,000 ) Unrecognized tax benefits net of unused tax attributes, refund claims and payments (a) $1,541,567 $1,213,490 $916,322 (a) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $2,421 million , $2,161 million , and $1,462 million as of December 31, 2019 , 2018 , and 2017 , 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 $4,962 million, $5,020 million , and $3,410 million as of December 31, 2019 , 2018 , and 2017 , 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, 2019 , 2018 , and 2017 accrued balance for the possible payment of interest is approximately $48 million , $44 million , and $38 million , respectively. Interest (net-of-tax) of $4 million , $7 million , and $8 million was recorded in 2019, 2018, and 2017, respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 The Registrant Subsidiaries record interest and penalties related to unrecognized tax benefits in income tax expense. No penalties were recorded in 2019 , 2018 , and 2017 . Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 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 2014. All state taxing authorities’ examinations are complete for years before 2015. 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. 2012-2013 IRS Audit The IRS completed its examination of the 2012 and 2013 tax years and issued its 2012-2013 Revenue Agent Report (RAR) in June 2018. Entergy agreed to all proposed adjustments contained in the RAR. Entergy and the Registrant Subsidiaries recorded the effects of these adjustments in June 2018. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits of $52 million related to the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing. 2014-2015 IRS Audit The IRS is examining the 2014 and 2015 tax years. Entergy expects the IRS to complete this examination in 2020. As of December 31, 2019, Entergy has not received any proposed adjustments to taxable income from the IRS. Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries was the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense to 30 percent of adjusted taxable income which is similar to earnings before interest, taxes, depreciation, and amortization. The limitation does not apply to interest expense that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. The IRS issued proposed regulations relating to this limitation in November 2018. The regulations are generally proposed to be effective for taxable years ending after the date Treasury adopts the regulations as final. Taxpayers may apply the rules of the proposed regulations to a taxable year beginning after December 31, 2017, so long as taxpayers consistently apply the rules of the proposed regulations. The proposed regulations provide guidance that if 90% of a tax group’s consolidated assets consist of utility property, the entire consolidated tax group will be treated as a regulated public utility and all of the consolidated group’s interest expense will be currently tax deductible. As a result of the limitation under the Act, Entergy recorded limitations in 2018 and 2019 and recorded a deferred tax asset on the nondeductible portion, as it has an unlimited carryover period. Entergy recorded a valuation allowance of $24 million due to a lack of earnings from sources other than the Utility. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act does not allow a carryback period but does provide for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The IRS issued proposed regulations relating to this limitation in December 2019. The significant provisions of the Act and associated proposed regulations require inclusion of performance-based compensation and an expanded definition of “covered employees” in the annual computation of the section 162 limitation. The Act amendments and associated proposed regulations resulted in an increase in disallowed compensation expense, but this limitation does not have a material effect on Entergy or the Registrant Subsidiaries. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries recorded a regulatory liability associated with the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” a significant portion of which has been paid to customers in 2018 and 2019 in the form of lower rates. Entergy’s December 31, 2019 and December 31, 2018 balance sheets reflect a regulatory liability of $1.7 billion and $2.1 billion , respectively, as a result of the re-measurement of deferred tax assets and liabilities from the income tax rate change, amortization of excess ADIT, and payments to customers during 2018 and 2019. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orl |
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 2019 , 2018 , and 2017 for Entergy Corporation and Subsidiaries consist of the following: 2019 2018 2017 (In Thousands) Current: Federal ($14,416 ) $36,848 $29,595 State 6,535 7,274 15,478 Total (7,881 ) 44,122 45,073 Deferred and non-current - net (155,956 ) (1,074,416 ) 505,010 Investment tax credit adjustments - net (5,988 ) (6,532 ) (7,513 ) Income taxes ($169,825 ) ($1,036,826 ) $542,570 Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 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 2019 , 2018 , and 2017 are: 2019 2018 2017 (In Thousands) Net income (loss) attributable to Entergy Corporation $1,241,226 $848,661 $411,612 Preferred dividend requirements of subsidiaries 17,018 13,894 13,741 Consolidated net income (loss) 1,258,244 862,555 425,353 Income taxes (169,825 ) (1,036,826 ) 542,570 Income (loss) before income taxes $1,088,419 ($174,271 ) $967,923 Computed at statutory rate (21% for 2019 and 2018) (35% for 2017) $228,568 ($36,597 ) $338,773 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 61,791 21,398 44,179 Regulatory differences - utility plant items (45,336 ) (37,507 ) 39,825 Equity component of AFUDC (30,444 ) (27,216 ) (33,282 ) Amortization of investment tax credits (8,093 ) (8,304 ) (10,204 ) Flow-through / permanent differences (2,059 ) 439 8,727 Tax legislation enactment (a) — — 560,410 Amortization of excess ADIT (a) (205,614 ) (577,082 ) — Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding — (40,494 ) — Utility restructuring (b) — (169,918 ) — Settlement on treatment of regulatory obligations (c) — (52,320 ) — State income tax audit conclusion — (23,425 ) — IRS audit adjustment — (8,404 ) — Entergy Wholesale Commodities nuclear decommissioning trust restructuring (d) — (106,833 ) — Entergy Wholesale Commodities restructuring (d) (173,725 ) — (373,277 ) FitzPatrick disposition — — (44,344 ) Charitable contribution (d) (19,101 ) — — Net operating loss recognition (41,427 ) — — Provision for uncertain tax positions 7,332 24,569 8,756 Valuation allowance 59,345 2,211 — Other - net (1,062 ) 2,657 3,007 Total income taxes as reported ($169,825 ) ($1,036,826 ) $542,570 Effective Income Tax Rate (15.6 %) 595.0 % 56.1 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (b) See “ Other Tax Matters - Entergy Arkansas and Entergy Mississippi Internal Restructuring ” below for discussion of the Utility restructuring. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement. (d) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities nuclear decommissioning trust restructuring in 2018, the Entergy Wholesale Commodities restructurings in 2017 and 2019, and the charitable contribution in 2019. 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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($4,111,761 ) ($3,835,211 ) Regulatory assets (389,573 ) (370,484 ) Nuclear decommissioning trusts/receivables (1,015,542 ) (1,128,140 ) Pension, net funding (348,260 ) (307,626 ) Combined unitary state taxes (11,519 ) (9,440 ) Power purchase agreements — (73,335 ) Deferred fuel (8,360 ) (29,953 ) Other (445,378 ) (248,997 ) Total (6,330,393 ) (6,003,186 ) Deferred tax assets: Nuclear decommissioning liabilities 929,251 1,070,583 Regulatory liabilities 806,777 895,756 Pension and other post-employment benefits 297,272 305,736 Sale and leaseback 102,420 121,473 Compensation 87,355 86,461 Accumulated deferred investment tax credit 56,013 57,643 Provision for allowances and contingencies 126,886 135,631 Power purchase agreements 231,502 — Unbilled/deferred revenues (10,218 ) 43,762 Net operating loss carryforwards 1,133,197 628,165 Capital losses and miscellaneous tax credits 22,597 20,549 Valuation allowance (303,307 ) (243,726 ) Other 289,557 125,522 Total 3,769,302 3,247,555 Non-current accrued taxes (including unrecognized tax benefits) (1,775,638 ) (1,296,928 ) Accumulated deferred income taxes and taxes accrued ($4,336,729 ) ($4,052,559 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses before 1/1/2018 $9.8 billion 2023-2037 Federal net operating losses - 1/1/2018 forward $10.7 billion N/A State net operating losses $20.8 billion 2020-2039 Federal and state charitable contributions $395.8 million 2020-2024 Miscellaneous federal and state credits $101.1 million 2020-2038 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. Entergy evaluates the available positive and negative evidence to estimate whether sufficient future taxable income of the appropriate character will be generated to realize the benefits of existing deferred tax assets. When the evaluation indicates that Entergy will not be able to realize the existing benefits, a valuation allowance is recorded to reduce deferred tax assets to the realizable amount. Because it is more likely than not that the benefit from certain state net operating loss and other deferred tax assets will not be utilized, valuation allowances totaling $303 million as of December 31, 2019 and $244 million as of December 31, 2018 have been provided on the deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize certain separate company tax return attributes, 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 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: 2019 2018 2017 (In Thousands) Gross balance at January 1 $7,181,482 $4,871,846 $3,909,855 Additions based on tax positions related to the current year 731,276 2,276,614 1,120,687 Additions for tax positions of prior years 151,628 506,142 283,683 Reductions for tax positions of prior years (681,232 ) (274,600 ) (442,379 ) Settlements — (198,520 ) — Gross balance at December 31 7,383,154 7,181,482 4,871,846 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (5,831,587 ) (5,957,992 ) (3,945,524 ) Cash paid to taxing authorities (10,000 ) (10,000 ) (10,000 ) Unrecognized tax benefits net of unused tax attributes, refund claims and payments (a) $1,541,567 $1,213,490 $916,322 (a) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $2,421 million , $2,161 million , and $1,462 million as of December 31, 2019 , 2018 , and 2017 , 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 $4,962 million, $5,020 million , and $3,410 million as of December 31, 2019 , 2018 , and 2017 , 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, 2019 , 2018 , and 2017 accrued balance for the possible payment of interest is approximately $48 million , $44 million , and $38 million , respectively. Interest (net-of-tax) of $4 million , $7 million , and $8 million was recorded in 2019, 2018, and 2017, respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 The Registrant Subsidiaries record interest and penalties related to unrecognized tax benefits in income tax expense. No penalties were recorded in 2019 , 2018 , and 2017 . Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 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 2014. All state taxing authorities’ examinations are complete for years before 2015. 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. 2012-2013 IRS Audit The IRS completed its examination of the 2012 and 2013 tax years and issued its 2012-2013 Revenue Agent Report (RAR) in June 2018. Entergy agreed to all proposed adjustments contained in the RAR. Entergy and the Registrant Subsidiaries recorded the effects of these adjustments in June 2018. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits of $52 million related to the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing. 2014-2015 IRS Audit The IRS is examining the 2014 and 2015 tax years. Entergy expects the IRS to complete this examination in 2020. As of December 31, 2019, Entergy has not received any proposed adjustments to taxable income from the IRS. Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries was the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense to 30 percent of adjusted taxable income which is similar to earnings before interest, taxes, depreciation, and amortization. The limitation does not apply to interest expense that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. The IRS issued proposed regulations relating to this limitation in November 2018. The regulations are generally proposed to be effective for taxable years ending after the date Treasury adopts the regulations as final. Taxpayers may apply the rules of the proposed regulations to a taxable year beginning after December 31, 2017, so long as taxpayers consistently apply the rules of the proposed regulations. The proposed regulations provide guidance that if 90% of a tax group’s consolidated assets consist of utility property, the entire consolidated tax group will be treated as a regulated public utility and all of the consolidated group’s interest expense will be currently tax deductible. As a result of the limitation under the Act, Entergy recorded limitations in 2018 and 2019 and recorded a deferred tax asset on the nondeductible portion, as it has an unlimited carryover period. Entergy recorded a valuation allowance of $24 million due to a lack of earnings from sources other than the Utility. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act does not allow a carryback period but does provide for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The IRS issued proposed regulations relating to this limitation in December 2019. The significant provisions of the Act and associated proposed regulations require inclusion of performance-based compensation and an expanded definition of “covered employees” in the annual computation of the section 162 limitation. The Act amendments and associated proposed regulations resulted in an increase in disallowed compensation expense, but this limitation does not have a material effect on Entergy or the Registrant Subsidiaries. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries recorded a regulatory liability associated with the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” a significant portion of which has been paid to customers in 2018 and 2019 in the form of lower rates. Entergy’s December 31, 2019 and December 31, 2018 balance sheets reflect a regulatory liability of $1.7 billion and $2.1 billion , respectively, as a result of the re-measurement of deferred tax assets and liabilities from the income tax rate change, amortization of excess ADIT, and payments to customers during 2018 and 2019. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orl |
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 2019 , 2018 , and 2017 for Entergy Corporation and Subsidiaries consist of the following: 2019 2018 2017 (In Thousands) Current: Federal ($14,416 ) $36,848 $29,595 State 6,535 7,274 15,478 Total (7,881 ) 44,122 45,073 Deferred and non-current - net (155,956 ) (1,074,416 ) 505,010 Investment tax credit adjustments - net (5,988 ) (6,532 ) (7,513 ) Income taxes ($169,825 ) ($1,036,826 ) $542,570 Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 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 2019 , 2018 , and 2017 are: 2019 2018 2017 (In Thousands) Net income (loss) attributable to Entergy Corporation $1,241,226 $848,661 $411,612 Preferred dividend requirements of subsidiaries 17,018 13,894 13,741 Consolidated net income (loss) 1,258,244 862,555 425,353 Income taxes (169,825 ) (1,036,826 ) 542,570 Income (loss) before income taxes $1,088,419 ($174,271 ) $967,923 Computed at statutory rate (21% for 2019 and 2018) (35% for 2017) $228,568 ($36,597 ) $338,773 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 61,791 21,398 44,179 Regulatory differences - utility plant items (45,336 ) (37,507 ) 39,825 Equity component of AFUDC (30,444 ) (27,216 ) (33,282 ) Amortization of investment tax credits (8,093 ) (8,304 ) (10,204 ) Flow-through / permanent differences (2,059 ) 439 8,727 Tax legislation enactment (a) — — 560,410 Amortization of excess ADIT (a) (205,614 ) (577,082 ) — Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding — (40,494 ) — Utility restructuring (b) — (169,918 ) — Settlement on treatment of regulatory obligations (c) — (52,320 ) — State income tax audit conclusion — (23,425 ) — IRS audit adjustment — (8,404 ) — Entergy Wholesale Commodities nuclear decommissioning trust restructuring (d) — (106,833 ) — Entergy Wholesale Commodities restructuring (d) (173,725 ) — (373,277 ) FitzPatrick disposition — — (44,344 ) Charitable contribution (d) (19,101 ) — — Net operating loss recognition (41,427 ) — — Provision for uncertain tax positions 7,332 24,569 8,756 Valuation allowance 59,345 2,211 — Other - net (1,062 ) 2,657 3,007 Total income taxes as reported ($169,825 ) ($1,036,826 ) $542,570 Effective Income Tax Rate (15.6 %) 595.0 % 56.1 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (b) See “ Other Tax Matters - Entergy Arkansas and Entergy Mississippi Internal Restructuring ” below for discussion of the Utility restructuring. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement. (d) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities nuclear decommissioning trust restructuring in 2018, the Entergy Wholesale Commodities restructurings in 2017 and 2019, and the charitable contribution in 2019. 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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($4,111,761 ) ($3,835,211 ) Regulatory assets (389,573 ) (370,484 ) Nuclear decommissioning trusts/receivables (1,015,542 ) (1,128,140 ) Pension, net funding (348,260 ) (307,626 ) Combined unitary state taxes (11,519 ) (9,440 ) Power purchase agreements — (73,335 ) Deferred fuel (8,360 ) (29,953 ) Other (445,378 ) (248,997 ) Total (6,330,393 ) (6,003,186 ) Deferred tax assets: Nuclear decommissioning liabilities 929,251 1,070,583 Regulatory liabilities 806,777 895,756 Pension and other post-employment benefits 297,272 305,736 Sale and leaseback 102,420 121,473 Compensation 87,355 86,461 Accumulated deferred investment tax credit 56,013 57,643 Provision for allowances and contingencies 126,886 135,631 Power purchase agreements 231,502 — Unbilled/deferred revenues (10,218 ) 43,762 Net operating loss carryforwards 1,133,197 628,165 Capital losses and miscellaneous tax credits 22,597 20,549 Valuation allowance (303,307 ) (243,726 ) Other 289,557 125,522 Total 3,769,302 3,247,555 Non-current accrued taxes (including unrecognized tax benefits) (1,775,638 ) (1,296,928 ) Accumulated deferred income taxes and taxes accrued ($4,336,729 ) ($4,052,559 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses before 1/1/2018 $9.8 billion 2023-2037 Federal net operating losses - 1/1/2018 forward $10.7 billion N/A State net operating losses $20.8 billion 2020-2039 Federal and state charitable contributions $395.8 million 2020-2024 Miscellaneous federal and state credits $101.1 million 2020-2038 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. Entergy evaluates the available positive and negative evidence to estimate whether sufficient future taxable income of the appropriate character will be generated to realize the benefits of existing deferred tax assets. When the evaluation indicates that Entergy will not be able to realize the existing benefits, a valuation allowance is recorded to reduce deferred tax assets to the realizable amount. Because it is more likely than not that the benefit from certain state net operating loss and other deferred tax assets will not be utilized, valuation allowances totaling $303 million as of December 31, 2019 and $244 million as of December 31, 2018 have been provided on the deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize certain separate company tax return attributes, 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 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: 2019 2018 2017 (In Thousands) Gross balance at January 1 $7,181,482 $4,871,846 $3,909,855 Additions based on tax positions related to the current year 731,276 2,276,614 1,120,687 Additions for tax positions of prior years 151,628 506,142 283,683 Reductions for tax positions of prior years (681,232 ) (274,600 ) (442,379 ) Settlements — (198,520 ) — Gross balance at December 31 7,383,154 7,181,482 4,871,846 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (5,831,587 ) (5,957,992 ) (3,945,524 ) Cash paid to taxing authorities (10,000 ) (10,000 ) (10,000 ) Unrecognized tax benefits net of unused tax attributes, refund claims and payments (a) $1,541,567 $1,213,490 $916,322 (a) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $2,421 million , $2,161 million , and $1,462 million as of December 31, 2019 , 2018 , and 2017 , 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 $4,962 million, $5,020 million , and $3,410 million as of December 31, 2019 , 2018 , and 2017 , 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, 2019 , 2018 , and 2017 accrued balance for the possible payment of interest is approximately $48 million , $44 million , and $38 million , respectively. Interest (net-of-tax) of $4 million , $7 million , and $8 million was recorded in 2019, 2018, and 2017, respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 The Registrant Subsidiaries record interest and penalties related to unrecognized tax benefits in income tax expense. No penalties were recorded in 2019 , 2018 , and 2017 . Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 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 2014. All state taxing authorities’ examinations are complete for years before 2015. 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. 2012-2013 IRS Audit The IRS completed its examination of the 2012 and 2013 tax years and issued its 2012-2013 Revenue Agent Report (RAR) in June 2018. Entergy agreed to all proposed adjustments contained in the RAR. Entergy and the Registrant Subsidiaries recorded the effects of these adjustments in June 2018. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits of $52 million related to the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing. 2014-2015 IRS Audit The IRS is examining the 2014 and 2015 tax years. Entergy expects the IRS to complete this examination in 2020. As of December 31, 2019, Entergy has not received any proposed adjustments to taxable income from the IRS. Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries was the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense to 30 percent of adjusted taxable income which is similar to earnings before interest, taxes, depreciation, and amortization. The limitation does not apply to interest expense that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. The IRS issued proposed regulations relating to this limitation in November 2018. The regulations are generally proposed to be effective for taxable years ending after the date Treasury adopts the regulations as final. Taxpayers may apply the rules of the proposed regulations to a taxable year beginning after December 31, 2017, so long as taxpayers consistently apply the rules of the proposed regulations. The proposed regulations provide guidance that if 90% of a tax group’s consolidated assets consist of utility property, the entire consolidated tax group will be treated as a regulated public utility and all of the consolidated group’s interest expense will be currently tax deductible. As a result of the limitation under the Act, Entergy recorded limitations in 2018 and 2019 and recorded a deferred tax asset on the nondeductible portion, as it has an unlimited carryover period. Entergy recorded a valuation allowance of $24 million due to a lack of earnings from sources other than the Utility. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act does not allow a carryback period but does provide for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The IRS issued proposed regulations relating to this limitation in December 2019. The significant provisions of the Act and associated proposed regulations require inclusion of performance-based compensation and an expanded definition of “covered employees” in the annual computation of the section 162 limitation. The Act amendments and associated proposed regulations resulted in an increase in disallowed compensation expense, but this limitation does not have a material effect on Entergy or the Registrant Subsidiaries. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries recorded a regulatory liability associated with the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” a significant portion of which has been paid to customers in 2018 and 2019 in the form of lower rates. Entergy’s December 31, 2019 and December 31, 2018 balance sheets reflect a regulatory liability of $1.7 billion and $2.1 billion , respectively, as a result of the re-measurement of deferred tax assets and liabilities from the income tax rate change, amortization of excess ADIT, and payments to customers during 2018 and 2019. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orl |
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 2019 , 2018 , and 2017 for Entergy Corporation and Subsidiaries consist of the following: 2019 2018 2017 (In Thousands) Current: Federal ($14,416 ) $36,848 $29,595 State 6,535 7,274 15,478 Total (7,881 ) 44,122 45,073 Deferred and non-current - net (155,956 ) (1,074,416 ) 505,010 Investment tax credit adjustments - net (5,988 ) (6,532 ) (7,513 ) Income taxes ($169,825 ) ($1,036,826 ) $542,570 Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 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 2019 , 2018 , and 2017 are: 2019 2018 2017 (In Thousands) Net income (loss) attributable to Entergy Corporation $1,241,226 $848,661 $411,612 Preferred dividend requirements of subsidiaries 17,018 13,894 13,741 Consolidated net income (loss) 1,258,244 862,555 425,353 Income taxes (169,825 ) (1,036,826 ) 542,570 Income (loss) before income taxes $1,088,419 ($174,271 ) $967,923 Computed at statutory rate (21% for 2019 and 2018) (35% for 2017) $228,568 ($36,597 ) $338,773 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 61,791 21,398 44,179 Regulatory differences - utility plant items (45,336 ) (37,507 ) 39,825 Equity component of AFUDC (30,444 ) (27,216 ) (33,282 ) Amortization of investment tax credits (8,093 ) (8,304 ) (10,204 ) Flow-through / permanent differences (2,059 ) 439 8,727 Tax legislation enactment (a) — — 560,410 Amortization of excess ADIT (a) (205,614 ) (577,082 ) — Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding — (40,494 ) — Utility restructuring (b) — (169,918 ) — Settlement on treatment of regulatory obligations (c) — (52,320 ) — State income tax audit conclusion — (23,425 ) — IRS audit adjustment — (8,404 ) — Entergy Wholesale Commodities nuclear decommissioning trust restructuring (d) — (106,833 ) — Entergy Wholesale Commodities restructuring (d) (173,725 ) — (373,277 ) FitzPatrick disposition — — (44,344 ) Charitable contribution (d) (19,101 ) — — Net operating loss recognition (41,427 ) — — Provision for uncertain tax positions 7,332 24,569 8,756 Valuation allowance 59,345 2,211 — Other - net (1,062 ) 2,657 3,007 Total income taxes as reported ($169,825 ) ($1,036,826 ) $542,570 Effective Income Tax Rate (15.6 %) 595.0 % 56.1 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (b) See “ Other Tax Matters - Entergy Arkansas and Entergy Mississippi Internal Restructuring ” below for discussion of the Utility restructuring. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement. (d) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities nuclear decommissioning trust restructuring in 2018, the Entergy Wholesale Commodities restructurings in 2017 and 2019, and the charitable contribution in 2019. 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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($4,111,761 ) ($3,835,211 ) Regulatory assets (389,573 ) (370,484 ) Nuclear decommissioning trusts/receivables (1,015,542 ) (1,128,140 ) Pension, net funding (348,260 ) (307,626 ) Combined unitary state taxes (11,519 ) (9,440 ) Power purchase agreements — (73,335 ) Deferred fuel (8,360 ) (29,953 ) Other (445,378 ) (248,997 ) Total (6,330,393 ) (6,003,186 ) Deferred tax assets: Nuclear decommissioning liabilities 929,251 1,070,583 Regulatory liabilities 806,777 895,756 Pension and other post-employment benefits 297,272 305,736 Sale and leaseback 102,420 121,473 Compensation 87,355 86,461 Accumulated deferred investment tax credit 56,013 57,643 Provision for allowances and contingencies 126,886 135,631 Power purchase agreements 231,502 — Unbilled/deferred revenues (10,218 ) 43,762 Net operating loss carryforwards 1,133,197 628,165 Capital losses and miscellaneous tax credits 22,597 20,549 Valuation allowance (303,307 ) (243,726 ) Other 289,557 125,522 Total 3,769,302 3,247,555 Non-current accrued taxes (including unrecognized tax benefits) (1,775,638 ) (1,296,928 ) Accumulated deferred income taxes and taxes accrued ($4,336,729 ) ($4,052,559 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses before 1/1/2018 $9.8 billion 2023-2037 Federal net operating losses - 1/1/2018 forward $10.7 billion N/A State net operating losses $20.8 billion 2020-2039 Federal and state charitable contributions $395.8 million 2020-2024 Miscellaneous federal and state credits $101.1 million 2020-2038 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. Entergy evaluates the available positive and negative evidence to estimate whether sufficient future taxable income of the appropriate character will be generated to realize the benefits of existing deferred tax assets. When the evaluation indicates that Entergy will not be able to realize the existing benefits, a valuation allowance is recorded to reduce deferred tax assets to the realizable amount. Because it is more likely than not that the benefit from certain state net operating loss and other deferred tax assets will not be utilized, valuation allowances totaling $303 million as of December 31, 2019 and $244 million as of December 31, 2018 have been provided on the deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize certain separate company tax return attributes, 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 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: 2019 2018 2017 (In Thousands) Gross balance at January 1 $7,181,482 $4,871,846 $3,909,855 Additions based on tax positions related to the current year 731,276 2,276,614 1,120,687 Additions for tax positions of prior years 151,628 506,142 283,683 Reductions for tax positions of prior years (681,232 ) (274,600 ) (442,379 ) Settlements — (198,520 ) — Gross balance at December 31 7,383,154 7,181,482 4,871,846 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (5,831,587 ) (5,957,992 ) (3,945,524 ) Cash paid to taxing authorities (10,000 ) (10,000 ) (10,000 ) Unrecognized tax benefits net of unused tax attributes, refund claims and payments (a) $1,541,567 $1,213,490 $916,322 (a) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $2,421 million , $2,161 million , and $1,462 million as of December 31, 2019 , 2018 , and 2017 , 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 $4,962 million, $5,020 million , and $3,410 million as of December 31, 2019 , 2018 , and 2017 , 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, 2019 , 2018 , and 2017 accrued balance for the possible payment of interest is approximately $48 million , $44 million , and $38 million , respectively. Interest (net-of-tax) of $4 million , $7 million , and $8 million was recorded in 2019, 2018, and 2017, respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 The Registrant Subsidiaries record interest and penalties related to unrecognized tax benefits in income tax expense. No penalties were recorded in 2019 , 2018 , and 2017 . Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 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 2014. All state taxing authorities’ examinations are complete for years before 2015. 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. 2012-2013 IRS Audit The IRS completed its examination of the 2012 and 2013 tax years and issued its 2012-2013 Revenue Agent Report (RAR) in June 2018. Entergy agreed to all proposed adjustments contained in the RAR. Entergy and the Registrant Subsidiaries recorded the effects of these adjustments in June 2018. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits of $52 million related to the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing. 2014-2015 IRS Audit The IRS is examining the 2014 and 2015 tax years. Entergy expects the IRS to complete this examination in 2020. As of December 31, 2019, Entergy has not received any proposed adjustments to taxable income from the IRS. Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries was the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense to 30 percent of adjusted taxable income which is similar to earnings before interest, taxes, depreciation, and amortization. The limitation does not apply to interest expense that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. The IRS issued proposed regulations relating to this limitation in November 2018. The regulations are generally proposed to be effective for taxable years ending after the date Treasury adopts the regulations as final. Taxpayers may apply the rules of the proposed regulations to a taxable year beginning after December 31, 2017, so long as taxpayers consistently apply the rules of the proposed regulations. The proposed regulations provide guidance that if 90% of a tax group’s consolidated assets consist of utility property, the entire consolidated tax group will be treated as a regulated public utility and all of the consolidated group’s interest expense will be currently tax deductible. As a result of the limitation under the Act, Entergy recorded limitations in 2018 and 2019 and recorded a deferred tax asset on the nondeductible portion, as it has an unlimited carryover period. Entergy recorded a valuation allowance of $24 million due to a lack of earnings from sources other than the Utility. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act does not allow a carryback period but does provide for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The IRS issued proposed regulations relating to this limitation in December 2019. The significant provisions of the Act and associated proposed regulations require inclusion of performance-based compensation and an expanded definition of “covered employees” in the annual computation of the section 162 limitation. The Act amendments and associated proposed regulations resulted in an increase in disallowed compensation expense, but this limitation does not have a material effect on Entergy or the Registrant Subsidiaries. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries recorded a regulatory liability associated with the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” a significant portion of which has been paid to customers in 2018 and 2019 in the form of lower rates. Entergy’s December 31, 2019 and December 31, 2018 balance sheets reflect a regulatory liability of $1.7 billion and $2.1 billion , respectively, as a result of the re-measurement of deferred tax assets and liabilities from the income tax rate change, amortization of excess ADIT, and payments to customers during 2018 and 2019. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orl |
Revolving Credit Facilities, Li
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
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 September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the year ended December 31, 2019 was 3.77% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $440 $6 $3,054 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2019 , Entergy Corporation had $1.947 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2019 was 2.71% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 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 for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2021. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2019 was 3.93% on the drawn portion of the facility. See Note 14 to the financial statements for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. 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, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. |
Entergy Arkansas [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 September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the year ended December 31, 2019 was 3.77% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $440 $6 $3,054 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2019 , Entergy Corporation had $1.947 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2019 was 2.71% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 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 for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2021. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2019 was 3.93% on the drawn portion of the facility. See Note 14 to the financial statements for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. 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, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. |
Entergy 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 September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the year ended December 31, 2019 was 3.77% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $440 $6 $3,054 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2019 , Entergy Corporation had $1.947 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2019 was 2.71% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 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 for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2021. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2019 was 3.93% on the drawn portion of the facility. See Note 14 to the financial statements for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. 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, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. |
Entergy 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 September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the year ended December 31, 2019 was 3.77% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $440 $6 $3,054 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2019 , Entergy Corporation had $1.947 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2019 was 2.71% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 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 for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2021. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2019 was 3.93% on the drawn portion of the facility. See Note 14 to the financial statements for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. 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, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. |
Entergy 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 September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the year ended December 31, 2019 was 3.77% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $440 $6 $3,054 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2019 , Entergy Corporation had $1.947 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2019 was 2.71% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 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 for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2021. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2019 was 3.93% on the drawn portion of the facility. See Note 14 to the financial statements for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. 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, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. |
Entergy 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 September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the year ended December 31, 2019 was 3.77% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $440 $6 $3,054 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2019 , Entergy Corporation had $1.947 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2019 was 2.71% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 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 for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2021. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2019 was 3.93% on the drawn portion of the facility. See Note 14 to the financial statements for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. 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, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. |
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 September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the year ended December 31, 2019 was 3.77% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $440 $6 $3,054 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2019 , Entergy Corporation had $1.947 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2019 was 2.71% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 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 for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in December 2021. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2019 was 3.93% on the drawn portion of the facility. See Note 14 to the financial statements for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. 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, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. |
Long - Term Debt
Long - Term Debt | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 and 2018 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2019 Interest Rate Ranges at December 31, Outstanding at December 31, 2019 2018 2019 2018 (In Thousands) Mortgage Bonds 2019-2023 3.65% 2.55%-5.10% 2.55%-7.125% $2,400,000 $3,050,000 2024-2028 3.59% 2.40%-5.59% 2.40%-5.59% 4,610,000 4,610,000 2029-2039 4.05% 3.05%-4.52% 3.05%-4.52% 1,890,000 1,190,000 2044-2066 4.63% 3.55%-5.625% 4.20%-5.625% 5,170,000 3,560,000 Governmental Bonds (a) 2021-2022 2.48% 2.375%-2.50% 2.375%-5.875% 179,000 179,000 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2021-2027 3.73% 2.04%-5.93% 2.04%-5.93% 302,145 429,118 Variable Interest Entities Notes Payable (Note 4) 2020-2023 3.41% 3.17%-3.92% 3.17%-3.92% 360,000 360,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 Entergy New Orleans Unsecured Term Loan n/a 3.00% — 70,000 — 5 Year Credit Facility (Note 4) n/a 3.77% 3.60% 440,000 220,000 Entergy New Orleans Credit Facility (Note 4) n/a 2.92% — 20,000 — Vermont Yankee Credit Facility (Note 4) n/a 3.93% 3.50% 139,000 139,000 Entergy Arkansas VIE Credit Facility (Note 4) n/a 3.33% 3.48% 15,100 59,600 Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 3.23% 3.44% 70,300 38,600 Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 3.30% 3.35% 49,900 82,000 System Energy VIE Credit Facility (Note 4) n/a 3.34% 3.44% 31,600 113,900 Long-term DOE Obligation (b) — — — 191,114 186,864 Grand Gulf Sale-Leaseback Obligation n/a — — 34,346 34,352 Unamortized Premium and Discount - Net (16,124 ) (14,784 ) Unamortized Debt Issuance Costs (143,502 ) (130,612 ) Other 12,096 12,594 Total Long-Term Debt 17,873,655 16,168,312 Less Amount Due Within One Year 795,012 650,009 Long-Term Debt Excluding Amount Due Within One Year $17,078,643 $15,518,303 Fair Value of Long-Term Debt $19,059,950 $16,101,455 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Amount (In Thousands) 2020 $795,000 2021 $1,358,159 2022 $1,104,289 2023 $1,865,154 2024 $1,175,000 Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020. Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2021. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020. Long-term debt for the Registrant Subsidiaries as of December 31, 2019 and 2018 consisted of: 2019 2018 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 600,000 4.0% Series due June 2028 250,000 250,000 4.95% Series due December 2044 250,000 250,000 4.20% Series due April 2049 350,000 — 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 3,160,000 2,810,000 Governmental Bonds (a): 2.375% Series due 2021, Independence County (c) 45,000 45,000 Total governmental bonds 45,000 45,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due September 2021, weighted avg rate 3.33% 15,100 59,600 Total variable interest entity notes payable and credit facility 145,100 189,600 Securitization Bonds: 2.30% Series Senior Secured due August 2021 7,259 21,692 Total securitization bonds 7,259 21,692 Other: Long-term DOE Obligation (b) 191,114 186,864 Unamortized Premium and Discount – Net 1,664 4,408 Unamortized Debt Issuance Costs (34,936 ) (33,831 ) Other 2,007 2,026 Total Long-Term Debt 3,517,208 3,225,759 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $3,517,208 $3,225,759 Fair Value of Long-Term Debt $3,747,914 $3,189,491 2019 2018 (In Thousands) Entergy Louisiana Mortgage Bonds: 3.95% Series due October 2020 $250,000 $250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 450,000 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 4.0% Series due March 2033 750,000 750,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 4.20% Series due September 2048 600,000 600,000 4.20% Series due April 2050 525,000 — 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 6,890,000 6,365,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (c) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (c) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due September 2021, weighted avg rate 3.23% 70,300 38,600 Credit Facility due September 2021, weighted avg rate 3.30% 49,900 82,000 Total variable interest entity notes payable and credit facilities 250,200 250,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 34,185 56,910 Total securitization bonds 34,185 56,910 Other: Unamortized Premium and Discount - Net (17,372 ) (14,955 ) Unamortized Debt Issuance Costs (58,089 ) (57,011 ) Other 6,065 6,544 Total Long-Term Debt 7,303,669 6,805,768 Less Amount Due Within One Year 320,002 2 Long-Term Debt Excluding Amount Due Within One Year $6,983,667 $6,805,766 Fair Value of Long-Term Debt $7,961,168 $6,834,134 2019 2018 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $— $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 150,000 2.85% Series due June 2028 375,000 375,000 4.52% Series due December 2038 55,000 55,000 3.85% Series due June 2049 435,000 — 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,625,000 1,340,000 Other: Unamortized Premium and Discount – Net 6,127 (989 ) Unamortized Debt Issuance Costs (16,998 ) (13,261 ) Total Long-Term Debt 1,614,129 1,325,750 Less Amount Due Within One Year — 150,000 Long-Term Debt Excluding Amount Due Within One Year $1,614,129 $1,175,750 Fair Value of Long-Term Debt $1,709,505 $1,276,452 2019 2018 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 4.51% Series due September 2033 60,000 60,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 410,000 410,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 54,443 65,666 Total securitization bonds 54,443 65,666 Other: 3.0% Unsecured Term Loan due May 2022 70,000 — Credit Facility due November 2021, weighted avg rate 2.92% 20,000 — Payable to associated company due November 2035 14,367 16,346 Unamortized Premium and Discount – Net (129 ) (168 ) Unamortized Debt Issuance Costs (7,775 ) (8,140 ) Total Long-Term Debt 560,906 483,704 Less Amount Due Within One Year 26,838 1,979 Long-Term Debt Excluding Amount Due Within One Year $534,068 $481,725 Fair Value of Long-Term Debt $523,846 $491,569 2019 2018 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $— $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 150,000 4.0% Series due March 2029 300,000 — 4.5% Series due March 2039 400,000 — 5.15% Series due June 2045 250,000 250,000 3.55% Series due September 2049 300,000 — 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,735,000 1,235,000 Securitization Bonds: 5.93% Series Senior Secured, Series A due June 2022 50,289 81,237 4.38% Series Senior Secured, Series A due November 2023 155,969 203,613 Total securitization bonds 206,258 284,850 Other: Unamortized Premium and Discount - Net (4,814 ) (992 ) Unamortized Debt Issuance Costs (17,510 ) (9,145 ) Other 4,022 4,022 Total Long-Term Debt 1,922,956 1,513,735 Less Amount Due Within One Year — 500,000 Long-Term Debt Excluding Amount Due Within One Year $1,922,956 $1,013,735 Fair Value of Long-Term Debt $2,090,215 $1,528,828 2019 2018 (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 2.5% Series due 2022, Mississippi Business Finance Corp. 134,000 — Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.42% Series J due April 2021 100,000 100,000 Credit Facility due September 2021, weighted avg rate 3.34% 31,600 113,900 Total variable interest entity notes payable and credit facility 131,600 213,900 Other: Grand Gulf Sale-Leaseback Obligation 34,346 34,352 Unamortized Premium and Discount – Net (144 ) (328 ) Unamortized Debt Issuance Costs (1,697 ) (1,176 ) Other 2 2 Total Long-Term Debt 548,107 630,750 Less Amount Due Within One Year 10 6 Long-Term Debt Excluding Amount Due Within One Year $548,097 $630,744 Fair Value of Long-Term Debt $565,209 $630,475 (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 bonds are secured by a series of collateral mortgage bonds. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds in the amount of $7.3 million for 2020. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next two years in the amounts of $23.2 million for 2020 and $11 million for 2021. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, $12.5 million for 2023, and $6.2 million for 2024. 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 of December 31, 2019, $50.3 million at 5.93% remain outstanding. Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next two years in the amounts of $32.8 million for 2020 and $17.5 million for 2021. 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 of December 31, 2019, $156 million at 4.38% remain outstanding. Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. 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. Grand Gulf Sale-Leaseback Transactions 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. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2019 and 2018 . As of December 31, 2019 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2020 $17,188 2021 17,188 2022 17,188 2023 17,188 2024 17,188 Years thereafter 206,250 Total 292,190 Less: Amount representing interest 257,844 Present value of net minimum lease payments $34,346 |
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, 2019 and 2018 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2019 Interest Rate Ranges at December 31, Outstanding at December 31, 2019 2018 2019 2018 (In Thousands) Mortgage Bonds 2019-2023 3.65% 2.55%-5.10% 2.55%-7.125% $2,400,000 $3,050,000 2024-2028 3.59% 2.40%-5.59% 2.40%-5.59% 4,610,000 4,610,000 2029-2039 4.05% 3.05%-4.52% 3.05%-4.52% 1,890,000 1,190,000 2044-2066 4.63% 3.55%-5.625% 4.20%-5.625% 5,170,000 3,560,000 Governmental Bonds (a) 2021-2022 2.48% 2.375%-2.50% 2.375%-5.875% 179,000 179,000 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2021-2027 3.73% 2.04%-5.93% 2.04%-5.93% 302,145 429,118 Variable Interest Entities Notes Payable (Note 4) 2020-2023 3.41% 3.17%-3.92% 3.17%-3.92% 360,000 360,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 Entergy New Orleans Unsecured Term Loan n/a 3.00% — 70,000 — 5 Year Credit Facility (Note 4) n/a 3.77% 3.60% 440,000 220,000 Entergy New Orleans Credit Facility (Note 4) n/a 2.92% — 20,000 — Vermont Yankee Credit Facility (Note 4) n/a 3.93% 3.50% 139,000 139,000 Entergy Arkansas VIE Credit Facility (Note 4) n/a 3.33% 3.48% 15,100 59,600 Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 3.23% 3.44% 70,300 38,600 Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 3.30% 3.35% 49,900 82,000 System Energy VIE Credit Facility (Note 4) n/a 3.34% 3.44% 31,600 113,900 Long-term DOE Obligation (b) — — — 191,114 186,864 Grand Gulf Sale-Leaseback Obligation n/a — — 34,346 34,352 Unamortized Premium and Discount - Net (16,124 ) (14,784 ) Unamortized Debt Issuance Costs (143,502 ) (130,612 ) Other 12,096 12,594 Total Long-Term Debt 17,873,655 16,168,312 Less Amount Due Within One Year 795,012 650,009 Long-Term Debt Excluding Amount Due Within One Year $17,078,643 $15,518,303 Fair Value of Long-Term Debt $19,059,950 $16,101,455 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Amount (In Thousands) 2020 $795,000 2021 $1,358,159 2022 $1,104,289 2023 $1,865,154 2024 $1,175,000 Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020. Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2021. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020. Long-term debt for the Registrant Subsidiaries as of December 31, 2019 and 2018 consisted of: 2019 2018 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 600,000 4.0% Series due June 2028 250,000 250,000 4.95% Series due December 2044 250,000 250,000 4.20% Series due April 2049 350,000 — 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 3,160,000 2,810,000 Governmental Bonds (a): 2.375% Series due 2021, Independence County (c) 45,000 45,000 Total governmental bonds 45,000 45,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due September 2021, weighted avg rate 3.33% 15,100 59,600 Total variable interest entity notes payable and credit facility 145,100 189,600 Securitization Bonds: 2.30% Series Senior Secured due August 2021 7,259 21,692 Total securitization bonds 7,259 21,692 Other: Long-term DOE Obligation (b) 191,114 186,864 Unamortized Premium and Discount – Net 1,664 4,408 Unamortized Debt Issuance Costs (34,936 ) (33,831 ) Other 2,007 2,026 Total Long-Term Debt 3,517,208 3,225,759 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $3,517,208 $3,225,759 Fair Value of Long-Term Debt $3,747,914 $3,189,491 2019 2018 (In Thousands) Entergy Louisiana Mortgage Bonds: 3.95% Series due October 2020 $250,000 $250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 450,000 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 4.0% Series due March 2033 750,000 750,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 4.20% Series due September 2048 600,000 600,000 4.20% Series due April 2050 525,000 — 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 6,890,000 6,365,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (c) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (c) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due September 2021, weighted avg rate 3.23% 70,300 38,600 Credit Facility due September 2021, weighted avg rate 3.30% 49,900 82,000 Total variable interest entity notes payable and credit facilities 250,200 250,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 34,185 56,910 Total securitization bonds 34,185 56,910 Other: Unamortized Premium and Discount - Net (17,372 ) (14,955 ) Unamortized Debt Issuance Costs (58,089 ) (57,011 ) Other 6,065 6,544 Total Long-Term Debt 7,303,669 6,805,768 Less Amount Due Within One Year 320,002 2 Long-Term Debt Excluding Amount Due Within One Year $6,983,667 $6,805,766 Fair Value of Long-Term Debt $7,961,168 $6,834,134 2019 2018 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $— $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 150,000 2.85% Series due June 2028 375,000 375,000 4.52% Series due December 2038 55,000 55,000 3.85% Series due June 2049 435,000 — 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,625,000 1,340,000 Other: Unamortized Premium and Discount – Net 6,127 (989 ) Unamortized Debt Issuance Costs (16,998 ) (13,261 ) Total Long-Term Debt 1,614,129 1,325,750 Less Amount Due Within One Year — 150,000 Long-Term Debt Excluding Amount Due Within One Year $1,614,129 $1,175,750 Fair Value of Long-Term Debt $1,709,505 $1,276,452 2019 2018 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 4.51% Series due September 2033 60,000 60,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 410,000 410,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 54,443 65,666 Total securitization bonds 54,443 65,666 Other: 3.0% Unsecured Term Loan due May 2022 70,000 — Credit Facility due November 2021, weighted avg rate 2.92% 20,000 — Payable to associated company due November 2035 14,367 16,346 Unamortized Premium and Discount – Net (129 ) (168 ) Unamortized Debt Issuance Costs (7,775 ) (8,140 ) Total Long-Term Debt 560,906 483,704 Less Amount Due Within One Year 26,838 1,979 Long-Term Debt Excluding Amount Due Within One Year $534,068 $481,725 Fair Value of Long-Term Debt $523,846 $491,569 2019 2018 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $— $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 150,000 4.0% Series due March 2029 300,000 — 4.5% Series due March 2039 400,000 — 5.15% Series due June 2045 250,000 250,000 3.55% Series due September 2049 300,000 — 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,735,000 1,235,000 Securitization Bonds: 5.93% Series Senior Secured, Series A due June 2022 50,289 81,237 4.38% Series Senior Secured, Series A due November 2023 155,969 203,613 Total securitization bonds 206,258 284,850 Other: Unamortized Premium and Discount - Net (4,814 ) (992 ) Unamortized Debt Issuance Costs (17,510 ) (9,145 ) Other 4,022 4,022 Total Long-Term Debt 1,922,956 1,513,735 Less Amount Due Within One Year — 500,000 Long-Term Debt Excluding Amount Due Within One Year $1,922,956 $1,013,735 Fair Value of Long-Term Debt $2,090,215 $1,528,828 2019 2018 (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 2.5% Series due 2022, Mississippi Business Finance Corp. 134,000 — Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.42% Series J due April 2021 100,000 100,000 Credit Facility due September 2021, weighted avg rate 3.34% 31,600 113,900 Total variable interest entity notes payable and credit facility 131,600 213,900 Other: Grand Gulf Sale-Leaseback Obligation 34,346 34,352 Unamortized Premium and Discount – Net (144 ) (328 ) Unamortized Debt Issuance Costs (1,697 ) (1,176 ) Other 2 2 Total Long-Term Debt 548,107 630,750 Less Amount Due Within One Year 10 6 Long-Term Debt Excluding Amount Due Within One Year $548,097 $630,744 Fair Value of Long-Term Debt $565,209 $630,475 (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 bonds are secured by a series of collateral mortgage bonds. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds in the amount of $7.3 million for 2020. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next two years in the amounts of $23.2 million for 2020 and $11 million for 2021. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, $12.5 million for 2023, and $6.2 million for 2024. 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 of December 31, 2019, $50.3 million at 5.93% remain outstanding. Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next two years in the amounts of $32.8 million for 2020 and $17.5 million for 2021. 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 of December 31, 2019, $156 million at 4.38% remain outstanding. Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. 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. Grand Gulf Sale-Leaseback Transactions 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. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2019 and 2018 . As of December 31, 2019 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2020 $17,188 2021 17,188 2022 17,188 2023 17,188 2024 17,188 Years thereafter 206,250 Total 292,190 Less: Amount representing interest 257,844 Present value of net minimum lease payments $34,346 |
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, 2019 and 2018 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2019 Interest Rate Ranges at December 31, Outstanding at December 31, 2019 2018 2019 2018 (In Thousands) Mortgage Bonds 2019-2023 3.65% 2.55%-5.10% 2.55%-7.125% $2,400,000 $3,050,000 2024-2028 3.59% 2.40%-5.59% 2.40%-5.59% 4,610,000 4,610,000 2029-2039 4.05% 3.05%-4.52% 3.05%-4.52% 1,890,000 1,190,000 2044-2066 4.63% 3.55%-5.625% 4.20%-5.625% 5,170,000 3,560,000 Governmental Bonds (a) 2021-2022 2.48% 2.375%-2.50% 2.375%-5.875% 179,000 179,000 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2021-2027 3.73% 2.04%-5.93% 2.04%-5.93% 302,145 429,118 Variable Interest Entities Notes Payable (Note 4) 2020-2023 3.41% 3.17%-3.92% 3.17%-3.92% 360,000 360,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 Entergy New Orleans Unsecured Term Loan n/a 3.00% — 70,000 — 5 Year Credit Facility (Note 4) n/a 3.77% 3.60% 440,000 220,000 Entergy New Orleans Credit Facility (Note 4) n/a 2.92% — 20,000 — Vermont Yankee Credit Facility (Note 4) n/a 3.93% 3.50% 139,000 139,000 Entergy Arkansas VIE Credit Facility (Note 4) n/a 3.33% 3.48% 15,100 59,600 Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 3.23% 3.44% 70,300 38,600 Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 3.30% 3.35% 49,900 82,000 System Energy VIE Credit Facility (Note 4) n/a 3.34% 3.44% 31,600 113,900 Long-term DOE Obligation (b) — — — 191,114 186,864 Grand Gulf Sale-Leaseback Obligation n/a — — 34,346 34,352 Unamortized Premium and Discount - Net (16,124 ) (14,784 ) Unamortized Debt Issuance Costs (143,502 ) (130,612 ) Other 12,096 12,594 Total Long-Term Debt 17,873,655 16,168,312 Less Amount Due Within One Year 795,012 650,009 Long-Term Debt Excluding Amount Due Within One Year $17,078,643 $15,518,303 Fair Value of Long-Term Debt $19,059,950 $16,101,455 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Amount (In Thousands) 2020 $795,000 2021 $1,358,159 2022 $1,104,289 2023 $1,865,154 2024 $1,175,000 Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020. Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2021. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020. Long-term debt for the Registrant Subsidiaries as of December 31, 2019 and 2018 consisted of: 2019 2018 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 600,000 4.0% Series due June 2028 250,000 250,000 4.95% Series due December 2044 250,000 250,000 4.20% Series due April 2049 350,000 — 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 3,160,000 2,810,000 Governmental Bonds (a): 2.375% Series due 2021, Independence County (c) 45,000 45,000 Total governmental bonds 45,000 45,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due September 2021, weighted avg rate 3.33% 15,100 59,600 Total variable interest entity notes payable and credit facility 145,100 189,600 Securitization Bonds: 2.30% Series Senior Secured due August 2021 7,259 21,692 Total securitization bonds 7,259 21,692 Other: Long-term DOE Obligation (b) 191,114 186,864 Unamortized Premium and Discount – Net 1,664 4,408 Unamortized Debt Issuance Costs (34,936 ) (33,831 ) Other 2,007 2,026 Total Long-Term Debt 3,517,208 3,225,759 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $3,517,208 $3,225,759 Fair Value of Long-Term Debt $3,747,914 $3,189,491 2019 2018 (In Thousands) Entergy Louisiana Mortgage Bonds: 3.95% Series due October 2020 $250,000 $250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 450,000 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 4.0% Series due March 2033 750,000 750,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 4.20% Series due September 2048 600,000 600,000 4.20% Series due April 2050 525,000 — 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 6,890,000 6,365,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (c) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (c) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due September 2021, weighted avg rate 3.23% 70,300 38,600 Credit Facility due September 2021, weighted avg rate 3.30% 49,900 82,000 Total variable interest entity notes payable and credit facilities 250,200 250,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 34,185 56,910 Total securitization bonds 34,185 56,910 Other: Unamortized Premium and Discount - Net (17,372 ) (14,955 ) Unamortized Debt Issuance Costs (58,089 ) (57,011 ) Other 6,065 6,544 Total Long-Term Debt 7,303,669 6,805,768 Less Amount Due Within One Year 320,002 2 Long-Term Debt Excluding Amount Due Within One Year $6,983,667 $6,805,766 Fair Value of Long-Term Debt $7,961,168 $6,834,134 2019 2018 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $— $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 150,000 2.85% Series due June 2028 375,000 375,000 4.52% Series due December 2038 55,000 55,000 3.85% Series due June 2049 435,000 — 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,625,000 1,340,000 Other: Unamortized Premium and Discount – Net 6,127 (989 ) Unamortized Debt Issuance Costs (16,998 ) (13,261 ) Total Long-Term Debt 1,614,129 1,325,750 Less Amount Due Within One Year — 150,000 Long-Term Debt Excluding Amount Due Within One Year $1,614,129 $1,175,750 Fair Value of Long-Term Debt $1,709,505 $1,276,452 2019 2018 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 4.51% Series due September 2033 60,000 60,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 410,000 410,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 54,443 65,666 Total securitization bonds 54,443 65,666 Other: 3.0% Unsecured Term Loan due May 2022 70,000 — Credit Facility due November 2021, weighted avg rate 2.92% 20,000 — Payable to associated company due November 2035 14,367 16,346 Unamortized Premium and Discount – Net (129 ) (168 ) Unamortized Debt Issuance Costs (7,775 ) (8,140 ) Total Long-Term Debt 560,906 483,704 Less Amount Due Within One Year 26,838 1,979 Long-Term Debt Excluding Amount Due Within One Year $534,068 $481,725 Fair Value of Long-Term Debt $523,846 $491,569 2019 2018 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $— $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 150,000 4.0% Series due March 2029 300,000 — 4.5% Series due March 2039 400,000 — 5.15% Series due June 2045 250,000 250,000 3.55% Series due September 2049 300,000 — 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,735,000 1,235,000 Securitization Bonds: 5.93% Series Senior Secured, Series A due June 2022 50,289 81,237 4.38% Series Senior Secured, Series A due November 2023 155,969 203,613 Total securitization bonds 206,258 284,850 Other: Unamortized Premium and Discount - Net (4,814 ) (992 ) Unamortized Debt Issuance Costs (17,510 ) (9,145 ) Other 4,022 4,022 Total Long-Term Debt 1,922,956 1,513,735 Less Amount Due Within One Year — 500,000 Long-Term Debt Excluding Amount Due Within One Year $1,922,956 $1,013,735 Fair Value of Long-Term Debt $2,090,215 $1,528,828 2019 2018 (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 2.5% Series due 2022, Mississippi Business Finance Corp. 134,000 — Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.42% Series J due April 2021 100,000 100,000 Credit Facility due September 2021, weighted avg rate 3.34% 31,600 113,900 Total variable interest entity notes payable and credit facility 131,600 213,900 Other: Grand Gulf Sale-Leaseback Obligation 34,346 34,352 Unamortized Premium and Discount – Net (144 ) (328 ) Unamortized Debt Issuance Costs (1,697 ) (1,176 ) Other 2 2 Total Long-Term Debt 548,107 630,750 Less Amount Due Within One Year 10 6 Long-Term Debt Excluding Amount Due Within One Year $548,097 $630,744 Fair Value of Long-Term Debt $565,209 $630,475 (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 bonds are secured by a series of collateral mortgage bonds. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds in the amount of $7.3 million for 2020. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next two years in the amounts of $23.2 million for 2020 and $11 million for 2021. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, $12.5 million for 2023, and $6.2 million for 2024. 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 of December 31, 2019, $50.3 million at 5.93% remain outstanding. Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next two years in the amounts of $32.8 million for 2020 and $17.5 million for 2021. 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 of December 31, 2019, $156 million at 4.38% remain outstanding. Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. 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. Grand Gulf Sale-Leaseback Transactions 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. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2019 and 2018 . As of December 31, 2019 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2020 $17,188 2021 17,188 2022 17,188 2023 17,188 2024 17,188 Years thereafter 206,250 Total 292,190 Less: Amount representing interest 257,844 Present value of net minimum lease payments $34,346 |
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, 2019 and 2018 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2019 Interest Rate Ranges at December 31, Outstanding at December 31, 2019 2018 2019 2018 (In Thousands) Mortgage Bonds 2019-2023 3.65% 2.55%-5.10% 2.55%-7.125% $2,400,000 $3,050,000 2024-2028 3.59% 2.40%-5.59% 2.40%-5.59% 4,610,000 4,610,000 2029-2039 4.05% 3.05%-4.52% 3.05%-4.52% 1,890,000 1,190,000 2044-2066 4.63% 3.55%-5.625% 4.20%-5.625% 5,170,000 3,560,000 Governmental Bonds (a) 2021-2022 2.48% 2.375%-2.50% 2.375%-5.875% 179,000 179,000 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2021-2027 3.73% 2.04%-5.93% 2.04%-5.93% 302,145 429,118 Variable Interest Entities Notes Payable (Note 4) 2020-2023 3.41% 3.17%-3.92% 3.17%-3.92% 360,000 360,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 Entergy New Orleans Unsecured Term Loan n/a 3.00% — 70,000 — 5 Year Credit Facility (Note 4) n/a 3.77% 3.60% 440,000 220,000 Entergy New Orleans Credit Facility (Note 4) n/a 2.92% — 20,000 — Vermont Yankee Credit Facility (Note 4) n/a 3.93% 3.50% 139,000 139,000 Entergy Arkansas VIE Credit Facility (Note 4) n/a 3.33% 3.48% 15,100 59,600 Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 3.23% 3.44% 70,300 38,600 Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 3.30% 3.35% 49,900 82,000 System Energy VIE Credit Facility (Note 4) n/a 3.34% 3.44% 31,600 113,900 Long-term DOE Obligation (b) — — — 191,114 186,864 Grand Gulf Sale-Leaseback Obligation n/a — — 34,346 34,352 Unamortized Premium and Discount - Net (16,124 ) (14,784 ) Unamortized Debt Issuance Costs (143,502 ) (130,612 ) Other 12,096 12,594 Total Long-Term Debt 17,873,655 16,168,312 Less Amount Due Within One Year 795,012 650,009 Long-Term Debt Excluding Amount Due Within One Year $17,078,643 $15,518,303 Fair Value of Long-Term Debt $19,059,950 $16,101,455 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Amount (In Thousands) 2020 $795,000 2021 $1,358,159 2022 $1,104,289 2023 $1,865,154 2024 $1,175,000 Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020. Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2021. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020. Long-term debt for the Registrant Subsidiaries as of December 31, 2019 and 2018 consisted of: 2019 2018 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 600,000 4.0% Series due June 2028 250,000 250,000 4.95% Series due December 2044 250,000 250,000 4.20% Series due April 2049 350,000 — 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 3,160,000 2,810,000 Governmental Bonds (a): 2.375% Series due 2021, Independence County (c) 45,000 45,000 Total governmental bonds 45,000 45,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due September 2021, weighted avg rate 3.33% 15,100 59,600 Total variable interest entity notes payable and credit facility 145,100 189,600 Securitization Bonds: 2.30% Series Senior Secured due August 2021 7,259 21,692 Total securitization bonds 7,259 21,692 Other: Long-term DOE Obligation (b) 191,114 186,864 Unamortized Premium and Discount – Net 1,664 4,408 Unamortized Debt Issuance Costs (34,936 ) (33,831 ) Other 2,007 2,026 Total Long-Term Debt 3,517,208 3,225,759 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $3,517,208 $3,225,759 Fair Value of Long-Term Debt $3,747,914 $3,189,491 2019 2018 (In Thousands) Entergy Louisiana Mortgage Bonds: 3.95% Series due October 2020 $250,000 $250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 450,000 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 4.0% Series due March 2033 750,000 750,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 4.20% Series due September 2048 600,000 600,000 4.20% Series due April 2050 525,000 — 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 6,890,000 6,365,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (c) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (c) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due September 2021, weighted avg rate 3.23% 70,300 38,600 Credit Facility due September 2021, weighted avg rate 3.30% 49,900 82,000 Total variable interest entity notes payable and credit facilities 250,200 250,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 34,185 56,910 Total securitization bonds 34,185 56,910 Other: Unamortized Premium and Discount - Net (17,372 ) (14,955 ) Unamortized Debt Issuance Costs (58,089 ) (57,011 ) Other 6,065 6,544 Total Long-Term Debt 7,303,669 6,805,768 Less Amount Due Within One Year 320,002 2 Long-Term Debt Excluding Amount Due Within One Year $6,983,667 $6,805,766 Fair Value of Long-Term Debt $7,961,168 $6,834,134 2019 2018 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $— $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 150,000 2.85% Series due June 2028 375,000 375,000 4.52% Series due December 2038 55,000 55,000 3.85% Series due June 2049 435,000 — 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,625,000 1,340,000 Other: Unamortized Premium and Discount – Net 6,127 (989 ) Unamortized Debt Issuance Costs (16,998 ) (13,261 ) Total Long-Term Debt 1,614,129 1,325,750 Less Amount Due Within One Year — 150,000 Long-Term Debt Excluding Amount Due Within One Year $1,614,129 $1,175,750 Fair Value of Long-Term Debt $1,709,505 $1,276,452 2019 2018 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 4.51% Series due September 2033 60,000 60,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 410,000 410,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 54,443 65,666 Total securitization bonds 54,443 65,666 Other: 3.0% Unsecured Term Loan due May 2022 70,000 — Credit Facility due November 2021, weighted avg rate 2.92% 20,000 — Payable to associated company due November 2035 14,367 16,346 Unamortized Premium and Discount – Net (129 ) (168 ) Unamortized Debt Issuance Costs (7,775 ) (8,140 ) Total Long-Term Debt 560,906 483,704 Less Amount Due Within One Year 26,838 1,979 Long-Term Debt Excluding Amount Due Within One Year $534,068 $481,725 Fair Value of Long-Term Debt $523,846 $491,569 2019 2018 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $— $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 150,000 4.0% Series due March 2029 300,000 — 4.5% Series due March 2039 400,000 — 5.15% Series due June 2045 250,000 250,000 3.55% Series due September 2049 300,000 — 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,735,000 1,235,000 Securitization Bonds: 5.93% Series Senior Secured, Series A due June 2022 50,289 81,237 4.38% Series Senior Secured, Series A due November 2023 155,969 203,613 Total securitization bonds 206,258 284,850 Other: Unamortized Premium and Discount - Net (4,814 ) (992 ) Unamortized Debt Issuance Costs (17,510 ) (9,145 ) Other 4,022 4,022 Total Long-Term Debt 1,922,956 1,513,735 Less Amount Due Within One Year — 500,000 Long-Term Debt Excluding Amount Due Within One Year $1,922,956 $1,013,735 Fair Value of Long-Term Debt $2,090,215 $1,528,828 2019 2018 (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 2.5% Series due 2022, Mississippi Business Finance Corp. 134,000 — Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.42% Series J due April 2021 100,000 100,000 Credit Facility due September 2021, weighted avg rate 3.34% 31,600 113,900 Total variable interest entity notes payable and credit facility 131,600 213,900 Other: Grand Gulf Sale-Leaseback Obligation 34,346 34,352 Unamortized Premium and Discount – Net (144 ) (328 ) Unamortized Debt Issuance Costs (1,697 ) (1,176 ) Other 2 2 Total Long-Term Debt 548,107 630,750 Less Amount Due Within One Year 10 6 Long-Term Debt Excluding Amount Due Within One Year $548,097 $630,744 Fair Value of Long-Term Debt $565,209 $630,475 (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 bonds are secured by a series of collateral mortgage bonds. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds in the amount of $7.3 million for 2020. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next two years in the amounts of $23.2 million for 2020 and $11 million for 2021. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, $12.5 million for 2023, and $6.2 million for 2024. 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 of December 31, 2019, $50.3 million at 5.93% remain outstanding. Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next two years in the amounts of $32.8 million for 2020 and $17.5 million for 2021. 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 of December 31, 2019, $156 million at 4.38% remain outstanding. Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. 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. Grand Gulf Sale-Leaseback Transactions 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. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2019 and 2018 . As of December 31, 2019 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2020 $17,188 2021 17,188 2022 17,188 2023 17,188 2024 17,188 Years thereafter 206,250 Total 292,190 Less: Amount representing interest 257,844 Present value of net minimum lease payments $34,346 |
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, 2019 and 2018 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2019 Interest Rate Ranges at December 31, Outstanding at December 31, 2019 2018 2019 2018 (In Thousands) Mortgage Bonds 2019-2023 3.65% 2.55%-5.10% 2.55%-7.125% $2,400,000 $3,050,000 2024-2028 3.59% 2.40%-5.59% 2.40%-5.59% 4,610,000 4,610,000 2029-2039 4.05% 3.05%-4.52% 3.05%-4.52% 1,890,000 1,190,000 2044-2066 4.63% 3.55%-5.625% 4.20%-5.625% 5,170,000 3,560,000 Governmental Bonds (a) 2021-2022 2.48% 2.375%-2.50% 2.375%-5.875% 179,000 179,000 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2021-2027 3.73% 2.04%-5.93% 2.04%-5.93% 302,145 429,118 Variable Interest Entities Notes Payable (Note 4) 2020-2023 3.41% 3.17%-3.92% 3.17%-3.92% 360,000 360,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 Entergy New Orleans Unsecured Term Loan n/a 3.00% — 70,000 — 5 Year Credit Facility (Note 4) n/a 3.77% 3.60% 440,000 220,000 Entergy New Orleans Credit Facility (Note 4) n/a 2.92% — 20,000 — Vermont Yankee Credit Facility (Note 4) n/a 3.93% 3.50% 139,000 139,000 Entergy Arkansas VIE Credit Facility (Note 4) n/a 3.33% 3.48% 15,100 59,600 Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 3.23% 3.44% 70,300 38,600 Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 3.30% 3.35% 49,900 82,000 System Energy VIE Credit Facility (Note 4) n/a 3.34% 3.44% 31,600 113,900 Long-term DOE Obligation (b) — — — 191,114 186,864 Grand Gulf Sale-Leaseback Obligation n/a — — 34,346 34,352 Unamortized Premium and Discount - Net (16,124 ) (14,784 ) Unamortized Debt Issuance Costs (143,502 ) (130,612 ) Other 12,096 12,594 Total Long-Term Debt 17,873,655 16,168,312 Less Amount Due Within One Year 795,012 650,009 Long-Term Debt Excluding Amount Due Within One Year $17,078,643 $15,518,303 Fair Value of Long-Term Debt $19,059,950 $16,101,455 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Amount (In Thousands) 2020 $795,000 2021 $1,358,159 2022 $1,104,289 2023 $1,865,154 2024 $1,175,000 Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020. Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2021. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020. Long-term debt for the Registrant Subsidiaries as of December 31, 2019 and 2018 consisted of: 2019 2018 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 600,000 4.0% Series due June 2028 250,000 250,000 4.95% Series due December 2044 250,000 250,000 4.20% Series due April 2049 350,000 — 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 3,160,000 2,810,000 Governmental Bonds (a): 2.375% Series due 2021, Independence County (c) 45,000 45,000 Total governmental bonds 45,000 45,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due September 2021, weighted avg rate 3.33% 15,100 59,600 Total variable interest entity notes payable and credit facility 145,100 189,600 Securitization Bonds: 2.30% Series Senior Secured due August 2021 7,259 21,692 Total securitization bonds 7,259 21,692 Other: Long-term DOE Obligation (b) 191,114 186,864 Unamortized Premium and Discount – Net 1,664 4,408 Unamortized Debt Issuance Costs (34,936 ) (33,831 ) Other 2,007 2,026 Total Long-Term Debt 3,517,208 3,225,759 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $3,517,208 $3,225,759 Fair Value of Long-Term Debt $3,747,914 $3,189,491 2019 2018 (In Thousands) Entergy Louisiana Mortgage Bonds: 3.95% Series due October 2020 $250,000 $250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 450,000 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 4.0% Series due March 2033 750,000 750,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 4.20% Series due September 2048 600,000 600,000 4.20% Series due April 2050 525,000 — 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 6,890,000 6,365,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (c) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (c) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due September 2021, weighted avg rate 3.23% 70,300 38,600 Credit Facility due September 2021, weighted avg rate 3.30% 49,900 82,000 Total variable interest entity notes payable and credit facilities 250,200 250,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 34,185 56,910 Total securitization bonds 34,185 56,910 Other: Unamortized Premium and Discount - Net (17,372 ) (14,955 ) Unamortized Debt Issuance Costs (58,089 ) (57,011 ) Other 6,065 6,544 Total Long-Term Debt 7,303,669 6,805,768 Less Amount Due Within One Year 320,002 2 Long-Term Debt Excluding Amount Due Within One Year $6,983,667 $6,805,766 Fair Value of Long-Term Debt $7,961,168 $6,834,134 2019 2018 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $— $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 150,000 2.85% Series due June 2028 375,000 375,000 4.52% Series due December 2038 55,000 55,000 3.85% Series due June 2049 435,000 — 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,625,000 1,340,000 Other: Unamortized Premium and Discount – Net 6,127 (989 ) Unamortized Debt Issuance Costs (16,998 ) (13,261 ) Total Long-Term Debt 1,614,129 1,325,750 Less Amount Due Within One Year — 150,000 Long-Term Debt Excluding Amount Due Within One Year $1,614,129 $1,175,750 Fair Value of Long-Term Debt $1,709,505 $1,276,452 2019 2018 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 4.51% Series due September 2033 60,000 60,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 410,000 410,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 54,443 65,666 Total securitization bonds 54,443 65,666 Other: 3.0% Unsecured Term Loan due May 2022 70,000 — Credit Facility due November 2021, weighted avg rate 2.92% 20,000 — Payable to associated company due November 2035 14,367 16,346 Unamortized Premium and Discount – Net (129 ) (168 ) Unamortized Debt Issuance Costs (7,775 ) (8,140 ) Total Long-Term Debt 560,906 483,704 Less Amount Due Within One Year 26,838 1,979 Long-Term Debt Excluding Amount Due Within One Year $534,068 $481,725 Fair Value of Long-Term Debt $523,846 $491,569 2019 2018 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $— $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 150,000 4.0% Series due March 2029 300,000 — 4.5% Series due March 2039 400,000 — 5.15% Series due June 2045 250,000 250,000 3.55% Series due September 2049 300,000 — 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,735,000 1,235,000 Securitization Bonds: 5.93% Series Senior Secured, Series A due June 2022 50,289 81,237 4.38% Series Senior Secured, Series A due November 2023 155,969 203,613 Total securitization bonds 206,258 284,850 Other: Unamortized Premium and Discount - Net (4,814 ) (992 ) Unamortized Debt Issuance Costs (17,510 ) (9,145 ) Other 4,022 4,022 Total Long-Term Debt 1,922,956 1,513,735 Less Amount Due Within One Year — 500,000 Long-Term Debt Excluding Amount Due Within One Year $1,922,956 $1,013,735 Fair Value of Long-Term Debt $2,090,215 $1,528,828 2019 2018 (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 2.5% Series due 2022, Mississippi Business Finance Corp. 134,000 — Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.42% Series J due April 2021 100,000 100,000 Credit Facility due September 2021, weighted avg rate 3.34% 31,600 113,900 Total variable interest entity notes payable and credit facility 131,600 213,900 Other: Grand Gulf Sale-Leaseback Obligation 34,346 34,352 Unamortized Premium and Discount – Net (144 ) (328 ) Unamortized Debt Issuance Costs (1,697 ) (1,176 ) Other 2 2 Total Long-Term Debt 548,107 630,750 Less Amount Due Within One Year 10 6 Long-Term Debt Excluding Amount Due Within One Year $548,097 $630,744 Fair Value of Long-Term Debt $565,209 $630,475 (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 bonds are secured by a series of collateral mortgage bonds. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds in the amount of $7.3 million for 2020. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next two years in the amounts of $23.2 million for 2020 and $11 million for 2021. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, $12.5 million for 2023, and $6.2 million for 2024. 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 of December 31, 2019, $50.3 million at 5.93% remain outstanding. Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next two years in the amounts of $32.8 million for 2020 and $17.5 million for 2021. 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 of December 31, 2019, $156 million at 4.38% remain outstanding. Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. 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. Grand Gulf Sale-Leaseback Transactions 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. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2019 and 2018 . As of December 31, 2019 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2020 $17,188 2021 17,188 2022 17,188 2023 17,188 2024 17,188 Years thereafter 206,250 Total 292,190 Less: Amount representing interest 257,844 Present value of net minimum lease payments $34,346 |
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, 2019 and 2018 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2019 Interest Rate Ranges at December 31, Outstanding at December 31, 2019 2018 2019 2018 (In Thousands) Mortgage Bonds 2019-2023 3.65% 2.55%-5.10% 2.55%-7.125% $2,400,000 $3,050,000 2024-2028 3.59% 2.40%-5.59% 2.40%-5.59% 4,610,000 4,610,000 2029-2039 4.05% 3.05%-4.52% 3.05%-4.52% 1,890,000 1,190,000 2044-2066 4.63% 3.55%-5.625% 4.20%-5.625% 5,170,000 3,560,000 Governmental Bonds (a) 2021-2022 2.48% 2.375%-2.50% 2.375%-5.875% 179,000 179,000 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2021-2027 3.73% 2.04%-5.93% 2.04%-5.93% 302,145 429,118 Variable Interest Entities Notes Payable (Note 4) 2020-2023 3.41% 3.17%-3.92% 3.17%-3.92% 360,000 360,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 Entergy New Orleans Unsecured Term Loan n/a 3.00% — 70,000 — 5 Year Credit Facility (Note 4) n/a 3.77% 3.60% 440,000 220,000 Entergy New Orleans Credit Facility (Note 4) n/a 2.92% — 20,000 — Vermont Yankee Credit Facility (Note 4) n/a 3.93% 3.50% 139,000 139,000 Entergy Arkansas VIE Credit Facility (Note 4) n/a 3.33% 3.48% 15,100 59,600 Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 3.23% 3.44% 70,300 38,600 Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 3.30% 3.35% 49,900 82,000 System Energy VIE Credit Facility (Note 4) n/a 3.34% 3.44% 31,600 113,900 Long-term DOE Obligation (b) — — — 191,114 186,864 Grand Gulf Sale-Leaseback Obligation n/a — — 34,346 34,352 Unamortized Premium and Discount - Net (16,124 ) (14,784 ) Unamortized Debt Issuance Costs (143,502 ) (130,612 ) Other 12,096 12,594 Total Long-Term Debt 17,873,655 16,168,312 Less Amount Due Within One Year 795,012 650,009 Long-Term Debt Excluding Amount Due Within One Year $17,078,643 $15,518,303 Fair Value of Long-Term Debt $19,059,950 $16,101,455 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Amount (In Thousands) 2020 $795,000 2021 $1,358,159 2022 $1,104,289 2023 $1,865,154 2024 $1,175,000 Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020. Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2021. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020. Long-term debt for the Registrant Subsidiaries as of December 31, 2019 and 2018 consisted of: 2019 2018 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 600,000 4.0% Series due June 2028 250,000 250,000 4.95% Series due December 2044 250,000 250,000 4.20% Series due April 2049 350,000 — 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 3,160,000 2,810,000 Governmental Bonds (a): 2.375% Series due 2021, Independence County (c) 45,000 45,000 Total governmental bonds 45,000 45,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due September 2021, weighted avg rate 3.33% 15,100 59,600 Total variable interest entity notes payable and credit facility 145,100 189,600 Securitization Bonds: 2.30% Series Senior Secured due August 2021 7,259 21,692 Total securitization bonds 7,259 21,692 Other: Long-term DOE Obligation (b) 191,114 186,864 Unamortized Premium and Discount – Net 1,664 4,408 Unamortized Debt Issuance Costs (34,936 ) (33,831 ) Other 2,007 2,026 Total Long-Term Debt 3,517,208 3,225,759 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $3,517,208 $3,225,759 Fair Value of Long-Term Debt $3,747,914 $3,189,491 2019 2018 (In Thousands) Entergy Louisiana Mortgage Bonds: 3.95% Series due October 2020 $250,000 $250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 450,000 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 4.0% Series due March 2033 750,000 750,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 4.20% Series due September 2048 600,000 600,000 4.20% Series due April 2050 525,000 — 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 6,890,000 6,365,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (c) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (c) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due September 2021, weighted avg rate 3.23% 70,300 38,600 Credit Facility due September 2021, weighted avg rate 3.30% 49,900 82,000 Total variable interest entity notes payable and credit facilities 250,200 250,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 34,185 56,910 Total securitization bonds 34,185 56,910 Other: Unamortized Premium and Discount - Net (17,372 ) (14,955 ) Unamortized Debt Issuance Costs (58,089 ) (57,011 ) Other 6,065 6,544 Total Long-Term Debt 7,303,669 6,805,768 Less Amount Due Within One Year 320,002 2 Long-Term Debt Excluding Amount Due Within One Year $6,983,667 $6,805,766 Fair Value of Long-Term Debt $7,961,168 $6,834,134 2019 2018 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $— $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 150,000 2.85% Series due June 2028 375,000 375,000 4.52% Series due December 2038 55,000 55,000 3.85% Series due June 2049 435,000 — 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,625,000 1,340,000 Other: Unamortized Premium and Discount – Net 6,127 (989 ) Unamortized Debt Issuance Costs (16,998 ) (13,261 ) Total Long-Term Debt 1,614,129 1,325,750 Less Amount Due Within One Year — 150,000 Long-Term Debt Excluding Amount Due Within One Year $1,614,129 $1,175,750 Fair Value of Long-Term Debt $1,709,505 $1,276,452 2019 2018 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 4.51% Series due September 2033 60,000 60,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 410,000 410,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 54,443 65,666 Total securitization bonds 54,443 65,666 Other: 3.0% Unsecured Term Loan due May 2022 70,000 — Credit Facility due November 2021, weighted avg rate 2.92% 20,000 — Payable to associated company due November 2035 14,367 16,346 Unamortized Premium and Discount – Net (129 ) (168 ) Unamortized Debt Issuance Costs (7,775 ) (8,140 ) Total Long-Term Debt 560,906 483,704 Less Amount Due Within One Year 26,838 1,979 Long-Term Debt Excluding Amount Due Within One Year $534,068 $481,725 Fair Value of Long-Term Debt $523,846 $491,569 2019 2018 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $— $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 150,000 4.0% Series due March 2029 300,000 — 4.5% Series due March 2039 400,000 — 5.15% Series due June 2045 250,000 250,000 3.55% Series due September 2049 300,000 — 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,735,000 1,235,000 Securitization Bonds: 5.93% Series Senior Secured, Series A due June 2022 50,289 81,237 4.38% Series Senior Secured, Series A due November 2023 155,969 203,613 Total securitization bonds 206,258 284,850 Other: Unamortized Premium and Discount - Net (4,814 ) (992 ) Unamortized Debt Issuance Costs (17,510 ) (9,145 ) Other 4,022 4,022 Total Long-Term Debt 1,922,956 1,513,735 Less Amount Due Within One Year — 500,000 Long-Term Debt Excluding Amount Due Within One Year $1,922,956 $1,013,735 Fair Value of Long-Term Debt $2,090,215 $1,528,828 2019 2018 (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 2.5% Series due 2022, Mississippi Business Finance Corp. 134,000 — Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.42% Series J due April 2021 100,000 100,000 Credit Facility due September 2021, weighted avg rate 3.34% 31,600 113,900 Total variable interest entity notes payable and credit facility 131,600 213,900 Other: Grand Gulf Sale-Leaseback Obligation 34,346 34,352 Unamortized Premium and Discount – Net (144 ) (328 ) Unamortized Debt Issuance Costs (1,697 ) (1,176 ) Other 2 2 Total Long-Term Debt 548,107 630,750 Less Amount Due Within One Year 10 6 Long-Term Debt Excluding Amount Due Within One Year $548,097 $630,744 Fair Value of Long-Term Debt $565,209 $630,475 (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 bonds are secured by a series of collateral mortgage bonds. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds in the amount of $7.3 million for 2020. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next two years in the amounts of $23.2 million for 2020 and $11 million for 2021. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, $12.5 million for 2023, and $6.2 million for 2024. 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 of December 31, 2019, $50.3 million at 5.93% remain outstanding. Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next two years in the amounts of $32.8 million for 2020 and $17.5 million for 2021. 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 of December 31, 2019, $156 million at 4.38% remain outstanding. Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. 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. Grand Gulf Sale-Leaseback Transactions 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. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2019 and 2018 . As of December 31, 2019 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2020 $17,188 2021 17,188 2022 17,188 2023 17,188 2024 17,188 Years thereafter 206,250 Total 292,190 Less: Amount representing interest 257,844 Present value of net minimum lease payments $34,346 |
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, 2019 and 2018 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2019 Interest Rate Ranges at December 31, Outstanding at December 31, 2019 2018 2019 2018 (In Thousands) Mortgage Bonds 2019-2023 3.65% 2.55%-5.10% 2.55%-7.125% $2,400,000 $3,050,000 2024-2028 3.59% 2.40%-5.59% 2.40%-5.59% 4,610,000 4,610,000 2029-2039 4.05% 3.05%-4.52% 3.05%-4.52% 1,890,000 1,190,000 2044-2066 4.63% 3.55%-5.625% 4.20%-5.625% 5,170,000 3,560,000 Governmental Bonds (a) 2021-2022 2.48% 2.375%-2.50% 2.375%-5.875% 179,000 179,000 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2021-2027 3.73% 2.04%-5.93% 2.04%-5.93% 302,145 429,118 Variable Interest Entities Notes Payable (Note 4) 2020-2023 3.41% 3.17%-3.92% 3.17%-3.92% 360,000 360,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 Entergy New Orleans Unsecured Term Loan n/a 3.00% — 70,000 — 5 Year Credit Facility (Note 4) n/a 3.77% 3.60% 440,000 220,000 Entergy New Orleans Credit Facility (Note 4) n/a 2.92% — 20,000 — Vermont Yankee Credit Facility (Note 4) n/a 3.93% 3.50% 139,000 139,000 Entergy Arkansas VIE Credit Facility (Note 4) n/a 3.33% 3.48% 15,100 59,600 Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 3.23% 3.44% 70,300 38,600 Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 3.30% 3.35% 49,900 82,000 System Energy VIE Credit Facility (Note 4) n/a 3.34% 3.44% 31,600 113,900 Long-term DOE Obligation (b) — — — 191,114 186,864 Grand Gulf Sale-Leaseback Obligation n/a — — 34,346 34,352 Unamortized Premium and Discount - Net (16,124 ) (14,784 ) Unamortized Debt Issuance Costs (143,502 ) (130,612 ) Other 12,096 12,594 Total Long-Term Debt 17,873,655 16,168,312 Less Amount Due Within One Year 795,012 650,009 Long-Term Debt Excluding Amount Due Within One Year $17,078,643 $15,518,303 Fair Value of Long-Term Debt $19,059,950 $16,101,455 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Amount (In Thousands) 2020 $795,000 2021 $1,358,159 2022 $1,104,289 2023 $1,865,154 2024 $1,175,000 Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through November 2020. Entergy New Orleans has obtained long-term financing authorization from the FERC and the City Council that extends through October 2021. Entergy Arkansas has also obtained first mortgage bond/secured financing authorization from the APSC that extends through December 2020. Long-term debt for the Registrant Subsidiaries as of December 31, 2019 and 2018 consisted of: 2019 2018 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 600,000 4.0% Series due June 2028 250,000 250,000 4.95% Series due December 2044 250,000 250,000 4.20% Series due April 2049 350,000 — 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 3,160,000 2,810,000 Governmental Bonds (a): 2.375% Series due 2021, Independence County (c) 45,000 45,000 Total governmental bonds 45,000 45,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due September 2021, weighted avg rate 3.33% 15,100 59,600 Total variable interest entity notes payable and credit facility 145,100 189,600 Securitization Bonds: 2.30% Series Senior Secured due August 2021 7,259 21,692 Total securitization bonds 7,259 21,692 Other: Long-term DOE Obligation (b) 191,114 186,864 Unamortized Premium and Discount – Net 1,664 4,408 Unamortized Debt Issuance Costs (34,936 ) (33,831 ) Other 2,007 2,026 Total Long-Term Debt 3,517,208 3,225,759 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $3,517,208 $3,225,759 Fair Value of Long-Term Debt $3,747,914 $3,189,491 2019 2018 (In Thousands) Entergy Louisiana Mortgage Bonds: 3.95% Series due October 2020 $250,000 $250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 450,000 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 4.0% Series due March 2033 750,000 750,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 4.20% Series due September 2048 600,000 600,000 4.20% Series due April 2050 525,000 — 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 6,890,000 6,365,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (c) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (c) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due September 2021, weighted avg rate 3.23% 70,300 38,600 Credit Facility due September 2021, weighted avg rate 3.30% 49,900 82,000 Total variable interest entity notes payable and credit facilities 250,200 250,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 34,185 56,910 Total securitization bonds 34,185 56,910 Other: Unamortized Premium and Discount - Net (17,372 ) (14,955 ) Unamortized Debt Issuance Costs (58,089 ) (57,011 ) Other 6,065 6,544 Total Long-Term Debt 7,303,669 6,805,768 Less Amount Due Within One Year 320,002 2 Long-Term Debt Excluding Amount Due Within One Year $6,983,667 $6,805,766 Fair Value of Long-Term Debt $7,961,168 $6,834,134 2019 2018 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $— $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 150,000 2.85% Series due June 2028 375,000 375,000 4.52% Series due December 2038 55,000 55,000 3.85% Series due June 2049 435,000 — 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,625,000 1,340,000 Other: Unamortized Premium and Discount – Net 6,127 (989 ) Unamortized Debt Issuance Costs (16,998 ) (13,261 ) Total Long-Term Debt 1,614,129 1,325,750 Less Amount Due Within One Year — 150,000 Long-Term Debt Excluding Amount Due Within One Year $1,614,129 $1,175,750 Fair Value of Long-Term Debt $1,709,505 $1,276,452 2019 2018 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 4.51% Series due September 2033 60,000 60,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 410,000 410,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 54,443 65,666 Total securitization bonds 54,443 65,666 Other: 3.0% Unsecured Term Loan due May 2022 70,000 — Credit Facility due November 2021, weighted avg rate 2.92% 20,000 — Payable to associated company due November 2035 14,367 16,346 Unamortized Premium and Discount – Net (129 ) (168 ) Unamortized Debt Issuance Costs (7,775 ) (8,140 ) Total Long-Term Debt 560,906 483,704 Less Amount Due Within One Year 26,838 1,979 Long-Term Debt Excluding Amount Due Within One Year $534,068 $481,725 Fair Value of Long-Term Debt $523,846 $491,569 2019 2018 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $— $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 150,000 4.0% Series due March 2029 300,000 — 4.5% Series due March 2039 400,000 — 5.15% Series due June 2045 250,000 250,000 3.55% Series due September 2049 300,000 — 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,735,000 1,235,000 Securitization Bonds: 5.93% Series Senior Secured, Series A due June 2022 50,289 81,237 4.38% Series Senior Secured, Series A due November 2023 155,969 203,613 Total securitization bonds 206,258 284,850 Other: Unamortized Premium and Discount - Net (4,814 ) (992 ) Unamortized Debt Issuance Costs (17,510 ) (9,145 ) Other 4,022 4,022 Total Long-Term Debt 1,922,956 1,513,735 Less Amount Due Within One Year — 500,000 Long-Term Debt Excluding Amount Due Within One Year $1,922,956 $1,013,735 Fair Value of Long-Term Debt $2,090,215 $1,528,828 2019 2018 (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 2.5% Series due 2022, Mississippi Business Finance Corp. 134,000 — Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.42% Series J due April 2021 100,000 100,000 Credit Facility due September 2021, weighted avg rate 3.34% 31,600 113,900 Total variable interest entity notes payable and credit facility 131,600 213,900 Other: Grand Gulf Sale-Leaseback Obligation 34,346 34,352 Unamortized Premium and Discount – Net (144 ) (328 ) Unamortized Debt Issuance Costs (1,697 ) (1,176 ) Other 2 2 Total Long-Term Debt 548,107 630,750 Less Amount Due Within One Year 10 6 Long-Term Debt Excluding Amount Due Within One Year $548,097 $630,744 Fair Value of Long-Term Debt $565,209 $630,475 (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 bonds are secured by a series of collateral mortgage bonds. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds in the amount of $7.3 million for 2020. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next two years in the amounts of $23.2 million for 2020 and $11 million for 2021. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11.6 million for 2020, $11.9 million for 2021, $12.2 million for 2022, $12.5 million for 2023, and $6.2 million for 2024. 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 of December 31, 2019, $50.3 million at 5.93% remain outstanding. Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next two years in the amounts of $32.8 million for 2020 and $17.5 million for 2021. 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 of December 31, 2019, $156 million at 4.38% remain outstanding. Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $49.8 million for 2020, $52 million for 2021, and $54.3 million for 2022. 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. Grand Gulf Sale-Leaseback Transactions 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. As such, it has recognized debt for the lease obligation and retained the portion of the plant subject to the sale-leaseback on its balance sheet. For financial reporting purposes, System Energy has recognized interest expense on the debt balance and depreciation on the applicable plant balance. The lease payments are recognized as principal and interest payments on the debt balance. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2019 and 2018 . As of December 31, 2019 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2020 $17,188 2021 17,188 2022 17,188 2023 17,188 2024 17,188 Years thereafter 206,250 Total 292,190 Less: Amount representing interest 257,844 Present value of net minimum lease payments $34,346 |
Preferred Equity
Preferred Equity | 12 Months Ended |
Dec. 31, 2019 | |
Preferred Equity | PREFERRED EQUITY (Entergy Corporation and Entergy Texas) 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, 2019 and 2018 are presented below. Shares/Units Authorized Shares/Units Outstanding 2019 2018 2019 2018 2019 2018 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 $107,425 $107,425 Entergy Utility Holding Company, LLC, 6.25% Series (b) 15,000 15,000 15,000 15,000 14,366 14,366 Entergy Utility Holding Company, LLC, 6.75% Series (c) 75,000 75,000 75,000 75,000 73,370 73,362 Entergy Texas, 5.375% Series 1,400,000 — 1,400,000 — 35,000 — Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 1,600,000 200,000 1,600,000 200,000 230,161 195,153 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (d) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock or Preferred Membership Interests without sinking fund 1,850,000 450,000 1,850,000 450,000 $254,410 $219,402 (a) In October 2015, Entergy Utility Holding Company, LLC issued 110,000 units of $1,000 liquidation value 7.5% Series A Preferred Membership Interests, all of which are outstanding as of December 31, 2019. The distributions are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per unit. Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) In November 2017, Entergy Utility Holding Company, LLC issued 15,000 units of $1,000 liquidation value 6.25% Series B Preferred Membership Interests, all of which are outstanding as of December 31, 2019. The distributions are cumulative and payable quarterly. These units are redeemable on or after February 28, 2038, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per unit. Dollar amount outstanding is net of $634 thousand of preferred stock issuance costs. (c) In November 2018, Entergy Utility Holding Company, LLC issued 75,000 units of $1,000 liquidation value 6.75% Series C Preferred Membership Interests, all of which are outstanding as of December 31, 2019. The distributions are cumulative and payable quarterly. These units are redeemable on or after February 28, 2039, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per unit. Dollar amount outstanding is net of $1,630 thousand of preferred stock issuance costs. (d) 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, 2019. 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. Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. The number of shares authorized and outstanding and dollar value of preferred stock for Entergy Texas as of December 31, 2019 and 2018 are presented below. Shares Authorized and Outstanding Call Price per Share as of December 31, 2019 2018 2019 2018 2019 Entergy Texas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $25 par value: 5.375% Series (a) 1,400,000 — $35,000 $— $— Total without sinking fund 1,400,000 — $35,000 $— (a) In September 2019, Entergy Texas issued $35 million of 5.375% Series A Preferred Stock, a total of 1,400,000 shares with a liquidation value of $25 per share, all of which are outstanding as of December 31, 2019. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after October 15, 2024 at Entergy Texas’s option, at a fixed redemption price of $25 per share. Dividends and distributions paid on all of Entergy Corporation’s subsidiaries’ preferred stock and membership interests series may be eligible for the dividends received deduction. 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 outstanding preferred stock of Entergy Texas has protective rights with respect to unpaid dividends but provides for the election of board members that would not constitute a majority of the board, and the preferred stock of Entergy Texas is therefore classified as a component of equity. The outstanding preferred securities of Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders have protective rights, are 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. |
Entergy Texas [Member] | |
Preferred Equity | PREFERRED EQUITY (Entergy Corporation and Entergy Texas) 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, 2019 and 2018 are presented below. Shares/Units Authorized Shares/Units Outstanding 2019 2018 2019 2018 2019 2018 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 $107,425 $107,425 Entergy Utility Holding Company, LLC, 6.25% Series (b) 15,000 15,000 15,000 15,000 14,366 14,366 Entergy Utility Holding Company, LLC, 6.75% Series (c) 75,000 75,000 75,000 75,000 73,370 73,362 Entergy Texas, 5.375% Series 1,400,000 — 1,400,000 — 35,000 — Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 1,600,000 200,000 1,600,000 200,000 230,161 195,153 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (d) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock or Preferred Membership Interests without sinking fund 1,850,000 450,000 1,850,000 450,000 $254,410 $219,402 (a) In October 2015, Entergy Utility Holding Company, LLC issued 110,000 units of $1,000 liquidation value 7.5% Series A Preferred Membership Interests, all of which are outstanding as of December 31, 2019. The distributions are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per unit. Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) In November 2017, Entergy Utility Holding Company, LLC issued 15,000 units of $1,000 liquidation value 6.25% Series B Preferred Membership Interests, all of which are outstanding as of December 31, 2019. The distributions are cumulative and payable quarterly. These units are redeemable on or after February 28, 2038, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per unit. Dollar amount outstanding is net of $634 thousand of preferred stock issuance costs. (c) In November 2018, Entergy Utility Holding Company, LLC issued 75,000 units of $1,000 liquidation value 6.75% Series C Preferred Membership Interests, all of which are outstanding as of December 31, 2019. The distributions are cumulative and payable quarterly. These units are redeemable on or after February 28, 2039, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per unit. Dollar amount outstanding is net of $1,630 thousand of preferred stock issuance costs. (d) 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, 2019. 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. Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. The number of shares authorized and outstanding and dollar value of preferred stock for Entergy Texas as of December 31, 2019 and 2018 are presented below. Shares Authorized and Outstanding Call Price per Share as of December 31, 2019 2018 2019 2018 2019 Entergy Texas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $25 par value: 5.375% Series (a) 1,400,000 — $35,000 $— $— Total without sinking fund 1,400,000 — $35,000 $— (a) In September 2019, Entergy Texas issued $35 million of 5.375% Series A Preferred Stock, a total of 1,400,000 shares with a liquidation value of $25 per share, all of which are outstanding as of December 31, 2019. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after October 15, 2024 at Entergy Texas’s option, at a fixed redemption price of $25 per share. Dividends and distributions paid on all of Entergy Corporation’s subsidiaries’ preferred stock and membership interests series may be eligible for the dividends received deduction. 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 outstanding preferred stock of Entergy Texas has protective rights with respect to unpaid dividends but provides for the election of board members that would not constitute a majority of the board, and the preferred stock of Entergy Texas is therefore classified as a component of equity. The outstanding preferred securities of Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders have protective rights, are 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. |
Common Equity
Common Equity | 12 Months Ended |
Dec. 31, 2019 | |
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 2019 , 2018 , and 2017 is as follows: 2019 2018 2017 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 261,587,009 72,530,866 254,752,788 74,235,135 254,752,788 75,623,363 Issuances: Equity forwards settled 8,448,171 — 6,834,221 — — — Employee Stock-Based Compensation Plans — (1,624,358 ) — (1,683,174 ) — (1,377,363 ) Directors’ Plan — (20,108 ) — (21,095 ) — (10,865 ) Ending Balance, December 31 270,035,180 70,886,400 261,587,009 72,530,866 254,752,788 74,235,135 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), four 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, 2019 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.66 in 2019 , $3.58 in 2018 , and $3.50 in 2017 . (System Energy) System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $56.5 million in 2018 and $21 million in 2017. Equity Forward Sale Agreements In June 2018, Entergy marketed an equity offering of 15.3 million shares of common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with various investment banks. The equity forwards required Entergy to, at its election prior to June 7, 2019, either (i) physically settle the transactions by issuing the total of 15.3 million shares of its common stock to the investment banks in exchange for net proceeds at the then-applicable forward sale price specified by the agreements (initially $74.45 per share) or (ii) net settle the transactions in whole or in part through the delivery or receipt of cash or shares. The forward sale price was subject to adjustment on a daily basis based on a floating interest rate factor and decreased by other fixed amounts specified in the agreements. In December 2018, Entergy physically settled a portion of its obligations under the forward sale agreements by delivering 6,834,221 shares of common stock in exchange for cash proceeds of $500 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $728 thousand of common stock issuance costs with the settlement. In May 2019, Entergy physically settled its remaining obligations under the forward sale agreements by delivering 8,448,171 shares of common stock in exchange for cash proceeds of $608 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $7 thousand of common stock issuance costs with the settlement. Entergy used the net proceeds for general corporate purposes, which included repayment of commercial paper, outstanding loans under Entergy’s revolving credit facility, and other debt. Retained Earnings and Dividends Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive income by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. See Note 16 to the financial statements for further discussion of effects of the new standard. Entergy implemented ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” effective January 1, 2018. The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment decreasing retained earnings by $56 million as of January 1, 2018 for the cumulative effect of recording deferred tax assets on previously-recognized intra-entity asset transfers. Entergy adopted ASU No. 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” in the first quarter 2018. The ASU allows a one-time reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income. Entergy’s policy for releasing income tax effects from accumulated other comprehensive income for available-for-sale securities is to use the portfolio approach. Entergy elected to reclassify the $15.5 million of stranded tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act to retained earnings ( $32 million decrease) or the regulatory liability for income taxes ( $16.5 million increase). Entergy’s reclassification only includes the effect of the change in the federal corporate income tax rate on accumulated other comprehensive income. Entergy implemented ASU No. 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” effective January 1, 2019. The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by approximately $8 million as of January 1, 2019 for the cumulative effect of the ineffectiveness portion of designated hedges on nuclear power sales. Entergy implemented ASU 2017-08 “Receivables (Topic 310): Nonrefundable Fees and Other Costs” effective January 1, 2019. The ASU amends the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Entergy implemented this standard using the modified retrospective approach, and recorded an adjustment decreasing retained earnings and decreasing accumulated other comprehensive loss by approximately $1 million as of January 1, 2019 for the cumulative effect of the amended amortization period. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $124 million in 2019 , $27 million in 2018 , and $201 million in 2017 . 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, 2019 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 191,147 (93,696 ) 32,914 130,365 Amounts reclassified from accumulated other comprehensive income (loss) (76,121 ) 68,546 (5,731 ) (13,306 ) Net other comprehensive income (loss) for the period 115,026 (25,150 ) 27,183 117,059 Ending balance, December 31, 2019 $84,206 ($557,072 ) $25,946 ($446,920 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2018 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,933 ) 26,702 (46,574 ) (51,805 ) Amounts reclassified from accumulated other comprehensive income (loss) 54,031 63,441 17,803 135,275 Net other comprehensive income (loss) for the period 22,098 90,143 (28,771 ) 83,470 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2019: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2019 ($6,153 ) Other comprehensive income (loss) before reclassifications 14,591 Amounts reclassified from accumulated other comprehensive income (loss) (3,876 ) Net other comprehensive income (loss) for the period 10,715 Ending balance, December 31, 2019 $4,562 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2018: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2018 ($46,400 ) Other comprehensive income (loss) before reclassifications 52,299 Amounts reclassified from accumulated other comprehensive income (loss) (2,003 ) Net other comprehensive income (loss) for the period 50,296 Reclassification pursuant to ASU 2018-02 ($10,049 ) Ending balance, December 31, 2018 ($6,153 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $96,549 ($68,067 ) Competitive business operating revenues Interest rate swaps (194 ) (327 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 96,355 (68,394 ) Income taxes (20,234 ) 14,363 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $76,121 ($54,031 ) Pension and other postretirement liabilities Amortization of prior-service costs $21,300 $21,700 (a) Amortization of loss (83,246 ) (99,186 ) (a) Settlement loss (25,155 ) (3,207 ) (a) Total (87,101 ) (80,693 ) Income taxes 18,555 17,252 Income taxes Total amortization and settlement loss (net of tax) ($68,546 ) ($63,441 ) Net unrealized investment gain (loss) Realized gain (loss) $9,069 ($28,170 ) Interest and investment income Income taxes (3,338 ) 10,367 Income taxes Total realized investment gain (loss) (net of tax) $5,731 ($17,803 ) Total reclassifications for the period (net of tax) $13,306 ($135,275 ) (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, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,349 $7,735 (a) Amortization of loss (2,106 ) (5,025 ) (a) Total amortization 5,243 2,710 Income taxes (1,367 ) (707 ) Income taxes Total amortization (net of tax) 3,876 2,003 Total reclassifications for the period (net of tax) $3,876 $2,003 (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 2019 , 2018 , and 2017 is as follows: 2019 2018 2017 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 261,587,009 72,530,866 254,752,788 74,235,135 254,752,788 75,623,363 Issuances: Equity forwards settled 8,448,171 — 6,834,221 — — — Employee Stock-Based Compensation Plans — (1,624,358 ) — (1,683,174 ) — (1,377,363 ) Directors’ Plan — (20,108 ) — (21,095 ) — (10,865 ) Ending Balance, December 31 270,035,180 70,886,400 261,587,009 72,530,866 254,752,788 74,235,135 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), four 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, 2019 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.66 in 2019 , $3.58 in 2018 , and $3.50 in 2017 . (System Energy) System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $56.5 million in 2018 and $21 million in 2017. Equity Forward Sale Agreements In June 2018, Entergy marketed an equity offering of 15.3 million shares of common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with various investment banks. The equity forwards required Entergy to, at its election prior to June 7, 2019, either (i) physically settle the transactions by issuing the total of 15.3 million shares of its common stock to the investment banks in exchange for net proceeds at the then-applicable forward sale price specified by the agreements (initially $74.45 per share) or (ii) net settle the transactions in whole or in part through the delivery or receipt of cash or shares. The forward sale price was subject to adjustment on a daily basis based on a floating interest rate factor and decreased by other fixed amounts specified in the agreements. In December 2018, Entergy physically settled a portion of its obligations under the forward sale agreements by delivering 6,834,221 shares of common stock in exchange for cash proceeds of $500 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $728 thousand of common stock issuance costs with the settlement. In May 2019, Entergy physically settled its remaining obligations under the forward sale agreements by delivering 8,448,171 shares of common stock in exchange for cash proceeds of $608 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $7 thousand of common stock issuance costs with the settlement. Entergy used the net proceeds for general corporate purposes, which included repayment of commercial paper, outstanding loans under Entergy’s revolving credit facility, and other debt. Retained Earnings and Dividends Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive income by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. See Note 16 to the financial statements for further discussion of effects of the new standard. Entergy implemented ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” effective January 1, 2018. The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment decreasing retained earnings by $56 million as of January 1, 2018 for the cumulative effect of recording deferred tax assets on previously-recognized intra-entity asset transfers. Entergy adopted ASU No. 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” in the first quarter 2018. The ASU allows a one-time reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income. Entergy’s policy for releasing income tax effects from accumulated other comprehensive income for available-for-sale securities is to use the portfolio approach. Entergy elected to reclassify the $15.5 million of stranded tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act to retained earnings ( $32 million decrease) or the regulatory liability for income taxes ( $16.5 million increase). Entergy’s reclassification only includes the effect of the change in the federal corporate income tax rate on accumulated other comprehensive income. Entergy implemented ASU No. 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” effective January 1, 2019. The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by approximately $8 million as of January 1, 2019 for the cumulative effect of the ineffectiveness portion of designated hedges on nuclear power sales. Entergy implemented ASU 2017-08 “Receivables (Topic 310): Nonrefundable Fees and Other Costs” effective January 1, 2019. The ASU amends the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Entergy implemented this standard using the modified retrospective approach, and recorded an adjustment decreasing retained earnings and decreasing accumulated other comprehensive loss by approximately $1 million as of January 1, 2019 for the cumulative effect of the amended amortization period. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $124 million in 2019 , $27 million in 2018 , and $201 million in 2017 . 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, 2019 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 191,147 (93,696 ) 32,914 130,365 Amounts reclassified from accumulated other comprehensive income (loss) (76,121 ) 68,546 (5,731 ) (13,306 ) Net other comprehensive income (loss) for the period 115,026 (25,150 ) 27,183 117,059 Ending balance, December 31, 2019 $84,206 ($557,072 ) $25,946 ($446,920 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2018 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,933 ) 26,702 (46,574 ) (51,805 ) Amounts reclassified from accumulated other comprehensive income (loss) 54,031 63,441 17,803 135,275 Net other comprehensive income (loss) for the period 22,098 90,143 (28,771 ) 83,470 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2019: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2019 ($6,153 ) Other comprehensive income (loss) before reclassifications 14,591 Amounts reclassified from accumulated other comprehensive income (loss) (3,876 ) Net other comprehensive income (loss) for the period 10,715 Ending balance, December 31, 2019 $4,562 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2018: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2018 ($46,400 ) Other comprehensive income (loss) before reclassifications 52,299 Amounts reclassified from accumulated other comprehensive income (loss) (2,003 ) Net other comprehensive income (loss) for the period 50,296 Reclassification pursuant to ASU 2018-02 ($10,049 ) Ending balance, December 31, 2018 ($6,153 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $96,549 ($68,067 ) Competitive business operating revenues Interest rate swaps (194 ) (327 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 96,355 (68,394 ) Income taxes (20,234 ) 14,363 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $76,121 ($54,031 ) Pension and other postretirement liabilities Amortization of prior-service costs $21,300 $21,700 (a) Amortization of loss (83,246 ) (99,186 ) (a) Settlement loss (25,155 ) (3,207 ) (a) Total (87,101 ) (80,693 ) Income taxes 18,555 17,252 Income taxes Total amortization and settlement loss (net of tax) ($68,546 ) ($63,441 ) Net unrealized investment gain (loss) Realized gain (loss) $9,069 ($28,170 ) Interest and investment income Income taxes (3,338 ) 10,367 Income taxes Total realized investment gain (loss) (net of tax) $5,731 ($17,803 ) Total reclassifications for the period (net of tax) $13,306 ($135,275 ) (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, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,349 $7,735 (a) Amortization of loss (2,106 ) (5,025 ) (a) Total amortization 5,243 2,710 Income taxes (1,367 ) (707 ) Income taxes Total amortization (net of tax) 3,876 2,003 Total reclassifications for the period (net of tax) $3,876 $2,003 (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 2019 , 2018 , and 2017 is as follows: 2019 2018 2017 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 261,587,009 72,530,866 254,752,788 74,235,135 254,752,788 75,623,363 Issuances: Equity forwards settled 8,448,171 — 6,834,221 — — — Employee Stock-Based Compensation Plans — (1,624,358 ) — (1,683,174 ) — (1,377,363 ) Directors’ Plan — (20,108 ) — (21,095 ) — (10,865 ) Ending Balance, December 31 270,035,180 70,886,400 261,587,009 72,530,866 254,752,788 74,235,135 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), four 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, 2019 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.66 in 2019 , $3.58 in 2018 , and $3.50 in 2017 . (System Energy) System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $56.5 million in 2018 and $21 million in 2017. Equity Forward Sale Agreements In June 2018, Entergy marketed an equity offering of 15.3 million shares of common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with various investment banks. The equity forwards required Entergy to, at its election prior to June 7, 2019, either (i) physically settle the transactions by issuing the total of 15.3 million shares of its common stock to the investment banks in exchange for net proceeds at the then-applicable forward sale price specified by the agreements (initially $74.45 per share) or (ii) net settle the transactions in whole or in part through the delivery or receipt of cash or shares. The forward sale price was subject to adjustment on a daily basis based on a floating interest rate factor and decreased by other fixed amounts specified in the agreements. In December 2018, Entergy physically settled a portion of its obligations under the forward sale agreements by delivering 6,834,221 shares of common stock in exchange for cash proceeds of $500 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $728 thousand of common stock issuance costs with the settlement. In May 2019, Entergy physically settled its remaining obligations under the forward sale agreements by delivering 8,448,171 shares of common stock in exchange for cash proceeds of $608 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $7 thousand of common stock issuance costs with the settlement. Entergy used the net proceeds for general corporate purposes, which included repayment of commercial paper, outstanding loans under Entergy’s revolving credit facility, and other debt. Retained Earnings and Dividends Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive income by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. See Note 16 to the financial statements for further discussion of effects of the new standard. Entergy implemented ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” effective January 1, 2018. The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment decreasing retained earnings by $56 million as of January 1, 2018 for the cumulative effect of recording deferred tax assets on previously-recognized intra-entity asset transfers. Entergy adopted ASU No. 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” in the first quarter 2018. The ASU allows a one-time reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income. Entergy’s policy for releasing income tax effects from accumulated other comprehensive income for available-for-sale securities is to use the portfolio approach. Entergy elected to reclassify the $15.5 million of stranded tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act to retained earnings ( $32 million decrease) or the regulatory liability for income taxes ( $16.5 million increase). Entergy’s reclassification only includes the effect of the change in the federal corporate income tax rate on accumulated other comprehensive income. Entergy implemented ASU No. 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” effective January 1, 2019. The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by approximately $8 million as of January 1, 2019 for the cumulative effect of the ineffectiveness portion of designated hedges on nuclear power sales. Entergy implemented ASU 2017-08 “Receivables (Topic 310): Nonrefundable Fees and Other Costs” effective January 1, 2019. The ASU amends the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Entergy implemented this standard using the modified retrospective approach, and recorded an adjustment decreasing retained earnings and decreasing accumulated other comprehensive loss by approximately $1 million as of January 1, 2019 for the cumulative effect of the amended amortization period. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $124 million in 2019 , $27 million in 2018 , and $201 million in 2017 . 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, 2019 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 191,147 (93,696 ) 32,914 130,365 Amounts reclassified from accumulated other comprehensive income (loss) (76,121 ) 68,546 (5,731 ) (13,306 ) Net other comprehensive income (loss) for the period 115,026 (25,150 ) 27,183 117,059 Ending balance, December 31, 2019 $84,206 ($557,072 ) $25,946 ($446,920 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2018 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,933 ) 26,702 (46,574 ) (51,805 ) Amounts reclassified from accumulated other comprehensive income (loss) 54,031 63,441 17,803 135,275 Net other comprehensive income (loss) for the period 22,098 90,143 (28,771 ) 83,470 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2019: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2019 ($6,153 ) Other comprehensive income (loss) before reclassifications 14,591 Amounts reclassified from accumulated other comprehensive income (loss) (3,876 ) Net other comprehensive income (loss) for the period 10,715 Ending balance, December 31, 2019 $4,562 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2018: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2018 ($46,400 ) Other comprehensive income (loss) before reclassifications 52,299 Amounts reclassified from accumulated other comprehensive income (loss) (2,003 ) Net other comprehensive income (loss) for the period 50,296 Reclassification pursuant to ASU 2018-02 ($10,049 ) Ending balance, December 31, 2018 ($6,153 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $96,549 ($68,067 ) Competitive business operating revenues Interest rate swaps (194 ) (327 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 96,355 (68,394 ) Income taxes (20,234 ) 14,363 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $76,121 ($54,031 ) Pension and other postretirement liabilities Amortization of prior-service costs $21,300 $21,700 (a) Amortization of loss (83,246 ) (99,186 ) (a) Settlement loss (25,155 ) (3,207 ) (a) Total (87,101 ) (80,693 ) Income taxes 18,555 17,252 Income taxes Total amortization and settlement loss (net of tax) ($68,546 ) ($63,441 ) Net unrealized investment gain (loss) Realized gain (loss) $9,069 ($28,170 ) Interest and investment income Income taxes (3,338 ) 10,367 Income taxes Total realized investment gain (loss) (net of tax) $5,731 ($17,803 ) Total reclassifications for the period (net of tax) $13,306 ($135,275 ) (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, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,349 $7,735 (a) Amortization of loss (2,106 ) (5,025 ) (a) Total amortization 5,243 2,710 Income taxes (1,367 ) (707 ) Income taxes Total amortization (net of tax) 3,876 2,003 Total reclassifications for the period (net of tax) $3,876 $2,003 (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 2019 , 2018 , and 2017 is as follows: 2019 2018 2017 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 261,587,009 72,530,866 254,752,788 74,235,135 254,752,788 75,623,363 Issuances: Equity forwards settled 8,448,171 — 6,834,221 — — — Employee Stock-Based Compensation Plans — (1,624,358 ) — (1,683,174 ) — (1,377,363 ) Directors’ Plan — (20,108 ) — (21,095 ) — (10,865 ) Ending Balance, December 31 270,035,180 70,886,400 261,587,009 72,530,866 254,752,788 74,235,135 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), four 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, 2019 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.66 in 2019 , $3.58 in 2018 , and $3.50 in 2017 . (System Energy) System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $56.5 million in 2018 and $21 million in 2017. Equity Forward Sale Agreements In June 2018, Entergy marketed an equity offering of 15.3 million shares of common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with various investment banks. The equity forwards required Entergy to, at its election prior to June 7, 2019, either (i) physically settle the transactions by issuing the total of 15.3 million shares of its common stock to the investment banks in exchange for net proceeds at the then-applicable forward sale price specified by the agreements (initially $74.45 per share) or (ii) net settle the transactions in whole or in part through the delivery or receipt of cash or shares. The forward sale price was subject to adjustment on a daily basis based on a floating interest rate factor and decreased by other fixed amounts specified in the agreements. In December 2018, Entergy physically settled a portion of its obligations under the forward sale agreements by delivering 6,834,221 shares of common stock in exchange for cash proceeds of $500 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $728 thousand of common stock issuance costs with the settlement. In May 2019, Entergy physically settled its remaining obligations under the forward sale agreements by delivering 8,448,171 shares of common stock in exchange for cash proceeds of $608 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $7 thousand of common stock issuance costs with the settlement. Entergy used the net proceeds for general corporate purposes, which included repayment of commercial paper, outstanding loans under Entergy’s revolving credit facility, and other debt. Retained Earnings and Dividends Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive income by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. See Note 16 to the financial statements for further discussion of effects of the new standard. Entergy implemented ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” effective January 1, 2018. The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment decreasing retained earnings by $56 million as of January 1, 2018 for the cumulative effect of recording deferred tax assets on previously-recognized intra-entity asset transfers. Entergy adopted ASU No. 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” in the first quarter 2018. The ASU allows a one-time reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income. Entergy’s policy for releasing income tax effects from accumulated other comprehensive income for available-for-sale securities is to use the portfolio approach. Entergy elected to reclassify the $15.5 million of stranded tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act to retained earnings ( $32 million decrease) or the regulatory liability for income taxes ( $16.5 million increase). Entergy’s reclassification only includes the effect of the change in the federal corporate income tax rate on accumulated other comprehensive income. Entergy implemented ASU No. 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” effective January 1, 2019. The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by approximately $8 million as of January 1, 2019 for the cumulative effect of the ineffectiveness portion of designated hedges on nuclear power sales. Entergy implemented ASU 2017-08 “Receivables (Topic 310): Nonrefundable Fees and Other Costs” effective January 1, 2019. The ASU amends the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Entergy implemented this standard using the modified retrospective approach, and recorded an adjustment decreasing retained earnings and decreasing accumulated other comprehensive loss by approximately $1 million as of January 1, 2019 for the cumulative effect of the amended amortization period. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $124 million in 2019 , $27 million in 2018 , and $201 million in 2017 . 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, 2019 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 191,147 (93,696 ) 32,914 130,365 Amounts reclassified from accumulated other comprehensive income (loss) (76,121 ) 68,546 (5,731 ) (13,306 ) Net other comprehensive income (loss) for the period 115,026 (25,150 ) 27,183 117,059 Ending balance, December 31, 2019 $84,206 ($557,072 ) $25,946 ($446,920 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2018 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,933 ) 26,702 (46,574 ) (51,805 ) Amounts reclassified from accumulated other comprehensive income (loss) 54,031 63,441 17,803 135,275 Net other comprehensive income (loss) for the period 22,098 90,143 (28,771 ) 83,470 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2019: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2019 ($6,153 ) Other comprehensive income (loss) before reclassifications 14,591 Amounts reclassified from accumulated other comprehensive income (loss) (3,876 ) Net other comprehensive income (loss) for the period 10,715 Ending balance, December 31, 2019 $4,562 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2018: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2018 ($46,400 ) Other comprehensive income (loss) before reclassifications 52,299 Amounts reclassified from accumulated other comprehensive income (loss) (2,003 ) Net other comprehensive income (loss) for the period 50,296 Reclassification pursuant to ASU 2018-02 ($10,049 ) Ending balance, December 31, 2018 ($6,153 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $96,549 ($68,067 ) Competitive business operating revenues Interest rate swaps (194 ) (327 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 96,355 (68,394 ) Income taxes (20,234 ) 14,363 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $76,121 ($54,031 ) Pension and other postretirement liabilities Amortization of prior-service costs $21,300 $21,700 (a) Amortization of loss (83,246 ) (99,186 ) (a) Settlement loss (25,155 ) (3,207 ) (a) Total (87,101 ) (80,693 ) Income taxes 18,555 17,252 Income taxes Total amortization and settlement loss (net of tax) ($68,546 ) ($63,441 ) Net unrealized investment gain (loss) Realized gain (loss) $9,069 ($28,170 ) Interest and investment income Income taxes (3,338 ) 10,367 Income taxes Total realized investment gain (loss) (net of tax) $5,731 ($17,803 ) Total reclassifications for the period (net of tax) $13,306 ($135,275 ) (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, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,349 $7,735 (a) Amortization of loss (2,106 ) (5,025 ) (a) Total amortization 5,243 2,710 Income taxes (1,367 ) (707 ) Income taxes Total amortization (net of tax) 3,876 2,003 Total reclassifications for the period (net of tax) $3,876 $2,003 (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 2019 , 2018 , and 2017 is as follows: 2019 2018 2017 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 261,587,009 72,530,866 254,752,788 74,235,135 254,752,788 75,623,363 Issuances: Equity forwards settled 8,448,171 — 6,834,221 — — — Employee Stock-Based Compensation Plans — (1,624,358 ) — (1,683,174 ) — (1,377,363 ) Directors’ Plan — (20,108 ) — (21,095 ) — (10,865 ) Ending Balance, December 31 270,035,180 70,886,400 261,587,009 72,530,866 254,752,788 74,235,135 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), four 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, 2019 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.66 in 2019 , $3.58 in 2018 , and $3.50 in 2017 . (System Energy) System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $56.5 million in 2018 and $21 million in 2017. Equity Forward Sale Agreements In June 2018, Entergy marketed an equity offering of 15.3 million shares of common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with various investment banks. The equity forwards required Entergy to, at its election prior to June 7, 2019, either (i) physically settle the transactions by issuing the total of 15.3 million shares of its common stock to the investment banks in exchange for net proceeds at the then-applicable forward sale price specified by the agreements (initially $74.45 per share) or (ii) net settle the transactions in whole or in part through the delivery or receipt of cash or shares. The forward sale price was subject to adjustment on a daily basis based on a floating interest rate factor and decreased by other fixed amounts specified in the agreements. In December 2018, Entergy physically settled a portion of its obligations under the forward sale agreements by delivering 6,834,221 shares of common stock in exchange for cash proceeds of $500 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $728 thousand of common stock issuance costs with the settlement. In May 2019, Entergy physically settled its remaining obligations under the forward sale agreements by delivering 8,448,171 shares of common stock in exchange for cash proceeds of $608 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $7 thousand of common stock issuance costs with the settlement. Entergy used the net proceeds for general corporate purposes, which included repayment of commercial paper, outstanding loans under Entergy’s revolving credit facility, and other debt. Retained Earnings and Dividends Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive income by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. See Note 16 to the financial statements for further discussion of effects of the new standard. Entergy implemented ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” effective January 1, 2018. The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment decreasing retained earnings by $56 million as of January 1, 2018 for the cumulative effect of recording deferred tax assets on previously-recognized intra-entity asset transfers. Entergy adopted ASU No. 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” in the first quarter 2018. The ASU allows a one-time reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income. Entergy’s policy for releasing income tax effects from accumulated other comprehensive income for available-for-sale securities is to use the portfolio approach. Entergy elected to reclassify the $15.5 million of stranded tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act to retained earnings ( $32 million decrease) or the regulatory liability for income taxes ( $16.5 million increase). Entergy’s reclassification only includes the effect of the change in the federal corporate income tax rate on accumulated other comprehensive income. Entergy implemented ASU No. 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” effective January 1, 2019. The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by approximately $8 million as of January 1, 2019 for the cumulative effect of the ineffectiveness portion of designated hedges on nuclear power sales. Entergy implemented ASU 2017-08 “Receivables (Topic 310): Nonrefundable Fees and Other Costs” effective January 1, 2019. The ASU amends the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Entergy implemented this standard using the modified retrospective approach, and recorded an adjustment decreasing retained earnings and decreasing accumulated other comprehensive loss by approximately $1 million as of January 1, 2019 for the cumulative effect of the amended amortization period. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $124 million in 2019 , $27 million in 2018 , and $201 million in 2017 . 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, 2019 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 191,147 (93,696 ) 32,914 130,365 Amounts reclassified from accumulated other comprehensive income (loss) (76,121 ) 68,546 (5,731 ) (13,306 ) Net other comprehensive income (loss) for the period 115,026 (25,150 ) 27,183 117,059 Ending balance, December 31, 2019 $84,206 ($557,072 ) $25,946 ($446,920 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2018 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,933 ) 26,702 (46,574 ) (51,805 ) Amounts reclassified from accumulated other comprehensive income (loss) 54,031 63,441 17,803 135,275 Net other comprehensive income (loss) for the period 22,098 90,143 (28,771 ) 83,470 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2019: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2019 ($6,153 ) Other comprehensive income (loss) before reclassifications 14,591 Amounts reclassified from accumulated other comprehensive income (loss) (3,876 ) Net other comprehensive income (loss) for the period 10,715 Ending balance, December 31, 2019 $4,562 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2018: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2018 ($46,400 ) Other comprehensive income (loss) before reclassifications 52,299 Amounts reclassified from accumulated other comprehensive income (loss) (2,003 ) Net other comprehensive income (loss) for the period 50,296 Reclassification pursuant to ASU 2018-02 ($10,049 ) Ending balance, December 31, 2018 ($6,153 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $96,549 ($68,067 ) Competitive business operating revenues Interest rate swaps (194 ) (327 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 96,355 (68,394 ) Income taxes (20,234 ) 14,363 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $76,121 ($54,031 ) Pension and other postretirement liabilities Amortization of prior-service costs $21,300 $21,700 (a) Amortization of loss (83,246 ) (99,186 ) (a) Settlement loss (25,155 ) (3,207 ) (a) Total (87,101 ) (80,693 ) Income taxes 18,555 17,252 Income taxes Total amortization and settlement loss (net of tax) ($68,546 ) ($63,441 ) Net unrealized investment gain (loss) Realized gain (loss) $9,069 ($28,170 ) Interest and investment income Income taxes (3,338 ) 10,367 Income taxes Total realized investment gain (loss) (net of tax) $5,731 ($17,803 ) Total reclassifications for the period (net of tax) $13,306 ($135,275 ) (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, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,349 $7,735 (a) Amortization of loss (2,106 ) (5,025 ) (a) Total amortization 5,243 2,710 Income taxes (1,367 ) (707 ) Income taxes Total amortization (net of tax) 3,876 2,003 Total reclassifications for the period (net of tax) $3,876 $2,003 (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 2019 , 2018 , and 2017 is as follows: 2019 2018 2017 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 261,587,009 72,530,866 254,752,788 74,235,135 254,752,788 75,623,363 Issuances: Equity forwards settled 8,448,171 — 6,834,221 — — — Employee Stock-Based Compensation Plans — (1,624,358 ) — (1,683,174 ) — (1,377,363 ) Directors’ Plan — (20,108 ) — (21,095 ) — (10,865 ) Ending Balance, December 31 270,035,180 70,886,400 261,587,009 72,530,866 254,752,788 74,235,135 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), four 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, 2019 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.66 in 2019 , $3.58 in 2018 , and $3.50 in 2017 . (System Energy) System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $56.5 million in 2018 and $21 million in 2017. Equity Forward Sale Agreements In June 2018, Entergy marketed an equity offering of 15.3 million shares of common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with various investment banks. The equity forwards required Entergy to, at its election prior to June 7, 2019, either (i) physically settle the transactions by issuing the total of 15.3 million shares of its common stock to the investment banks in exchange for net proceeds at the then-applicable forward sale price specified by the agreements (initially $74.45 per share) or (ii) net settle the transactions in whole or in part through the delivery or receipt of cash or shares. The forward sale price was subject to adjustment on a daily basis based on a floating interest rate factor and decreased by other fixed amounts specified in the agreements. In December 2018, Entergy physically settled a portion of its obligations under the forward sale agreements by delivering 6,834,221 shares of common stock in exchange for cash proceeds of $500 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $728 thousand of common stock issuance costs with the settlement. In May 2019, Entergy physically settled its remaining obligations under the forward sale agreements by delivering 8,448,171 shares of common stock in exchange for cash proceeds of $608 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $7 thousand of common stock issuance costs with the settlement. Entergy used the net proceeds for general corporate purposes, which included repayment of commercial paper, outstanding loans under Entergy’s revolving credit facility, and other debt. Retained Earnings and Dividends Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive income by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. See Note 16 to the financial statements for further discussion of effects of the new standard. Entergy implemented ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” effective January 1, 2018. The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment decreasing retained earnings by $56 million as of January 1, 2018 for the cumulative effect of recording deferred tax assets on previously-recognized intra-entity asset transfers. Entergy adopted ASU No. 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” in the first quarter 2018. The ASU allows a one-time reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income. Entergy’s policy for releasing income tax effects from accumulated other comprehensive income for available-for-sale securities is to use the portfolio approach. Entergy elected to reclassify the $15.5 million of stranded tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act to retained earnings ( $32 million decrease) or the regulatory liability for income taxes ( $16.5 million increase). Entergy’s reclassification only includes the effect of the change in the federal corporate income tax rate on accumulated other comprehensive income. Entergy implemented ASU No. 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” effective January 1, 2019. The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by approximately $8 million as of January 1, 2019 for the cumulative effect of the ineffectiveness portion of designated hedges on nuclear power sales. Entergy implemented ASU 2017-08 “Receivables (Topic 310): Nonrefundable Fees and Other Costs” effective January 1, 2019. The ASU amends the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Entergy implemented this standard using the modified retrospective approach, and recorded an adjustment decreasing retained earnings and decreasing accumulated other comprehensive loss by approximately $1 million as of January 1, 2019 for the cumulative effect of the amended amortization period. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $124 million in 2019 , $27 million in 2018 , and $201 million in 2017 . 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, 2019 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 191,147 (93,696 ) 32,914 130,365 Amounts reclassified from accumulated other comprehensive income (loss) (76,121 ) 68,546 (5,731 ) (13,306 ) Net other comprehensive income (loss) for the period 115,026 (25,150 ) 27,183 117,059 Ending balance, December 31, 2019 $84,206 ($557,072 ) $25,946 ($446,920 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2018 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,933 ) 26,702 (46,574 ) (51,805 ) Amounts reclassified from accumulated other comprehensive income (loss) 54,031 63,441 17,803 135,275 Net other comprehensive income (loss) for the period 22,098 90,143 (28,771 ) 83,470 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2019: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2019 ($6,153 ) Other comprehensive income (loss) before reclassifications 14,591 Amounts reclassified from accumulated other comprehensive income (loss) (3,876 ) Net other comprehensive income (loss) for the period 10,715 Ending balance, December 31, 2019 $4,562 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2018: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2018 ($46,400 ) Other comprehensive income (loss) before reclassifications 52,299 Amounts reclassified from accumulated other comprehensive income (loss) (2,003 ) Net other comprehensive income (loss) for the period 50,296 Reclassification pursuant to ASU 2018-02 ($10,049 ) Ending balance, December 31, 2018 ($6,153 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $96,549 ($68,067 ) Competitive business operating revenues Interest rate swaps (194 ) (327 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 96,355 (68,394 ) Income taxes (20,234 ) 14,363 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $76,121 ($54,031 ) Pension and other postretirement liabilities Amortization of prior-service costs $21,300 $21,700 (a) Amortization of loss (83,246 ) (99,186 ) (a) Settlement loss (25,155 ) (3,207 ) (a) Total (87,101 ) (80,693 ) Income taxes 18,555 17,252 Income taxes Total amortization and settlement loss (net of tax) ($68,546 ) ($63,441 ) Net unrealized investment gain (loss) Realized gain (loss) $9,069 ($28,170 ) Interest and investment income Income taxes (3,338 ) 10,367 Income taxes Total realized investment gain (loss) (net of tax) $5,731 ($17,803 ) Total reclassifications for the period (net of tax) $13,306 ($135,275 ) (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, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,349 $7,735 (a) Amortization of loss (2,106 ) (5,025 ) (a) Total amortization 5,243 2,710 Income taxes (1,367 ) (707 ) Income taxes Total amortization (net of tax) 3,876 2,003 Total reclassifications for the period (net of tax) $3,876 $2,003 (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 2019 , 2018 , and 2017 is as follows: 2019 2018 2017 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 261,587,009 72,530,866 254,752,788 74,235,135 254,752,788 75,623,363 Issuances: Equity forwards settled 8,448,171 — 6,834,221 — — — Employee Stock-Based Compensation Plans — (1,624,358 ) — (1,683,174 ) — (1,377,363 ) Directors’ Plan — (20,108 ) — (21,095 ) — (10,865 ) Ending Balance, December 31 270,035,180 70,886,400 261,587,009 72,530,866 254,752,788 74,235,135 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), four 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, 2019 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.66 in 2019 , $3.58 in 2018 , and $3.50 in 2017 . (System Energy) System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $56.5 million in 2018 and $21 million in 2017. Equity Forward Sale Agreements In June 2018, Entergy marketed an equity offering of 15.3 million shares of common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with various investment banks. The equity forwards required Entergy to, at its election prior to June 7, 2019, either (i) physically settle the transactions by issuing the total of 15.3 million shares of its common stock to the investment banks in exchange for net proceeds at the then-applicable forward sale price specified by the agreements (initially $74.45 per share) or (ii) net settle the transactions in whole or in part through the delivery or receipt of cash or shares. The forward sale price was subject to adjustment on a daily basis based on a floating interest rate factor and decreased by other fixed amounts specified in the agreements. In December 2018, Entergy physically settled a portion of its obligations under the forward sale agreements by delivering 6,834,221 shares of common stock in exchange for cash proceeds of $500 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $728 thousand of common stock issuance costs with the settlement. In May 2019, Entergy physically settled its remaining obligations under the forward sale agreements by delivering 8,448,171 shares of common stock in exchange for cash proceeds of $608 million . The forward sale price used to determine the cash proceeds received by Entergy was calculated based on the initial forward sale price of $74.45 per share as adjusted in accordance with the forward sale agreements. Entergy incurred approximately $7 thousand of common stock issuance costs with the settlement. Entergy used the net proceeds for general corporate purposes, which included repayment of commercial paper, outstanding loans under Entergy’s revolving credit facility, and other debt. Retained Earnings and Dividends Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and reducing accumulated other comprehensive income by $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. See Note 16 to the financial statements for further discussion of effects of the new standard. Entergy implemented ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” effective January 1, 2018. The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment decreasing retained earnings by $56 million as of January 1, 2018 for the cumulative effect of recording deferred tax assets on previously-recognized intra-entity asset transfers. Entergy adopted ASU No. 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” in the first quarter 2018. The ASU allows a one-time reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income. Entergy’s policy for releasing income tax effects from accumulated other comprehensive income for available-for-sale securities is to use the portfolio approach. Entergy elected to reclassify the $15.5 million of stranded tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act to retained earnings ( $32 million decrease) or the regulatory liability for income taxes ( $16.5 million increase). Entergy’s reclassification only includes the effect of the change in the federal corporate income tax rate on accumulated other comprehensive income. Entergy implemented ASU No. 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” effective January 1, 2019. The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by approximately $8 million as of January 1, 2019 for the cumulative effect of the ineffectiveness portion of designated hedges on nuclear power sales. Entergy implemented ASU 2017-08 “Receivables (Topic 310): Nonrefundable Fees and Other Costs” effective January 1, 2019. The ASU amends the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Entergy implemented this standard using the modified retrospective approach, and recorded an adjustment decreasing retained earnings and decreasing accumulated other comprehensive loss by approximately $1 million as of January 1, 2019 for the cumulative effect of the amended amortization period. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $124 million in 2019 , $27 million in 2018 , and $201 million in 2017 . 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, 2019 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 191,147 (93,696 ) 32,914 130,365 Amounts reclassified from accumulated other comprehensive income (loss) (76,121 ) 68,546 (5,731 ) (13,306 ) Net other comprehensive income (loss) for the period 115,026 (25,150 ) 27,183 117,059 Ending balance, December 31, 2019 $84,206 ($557,072 ) $25,946 ($446,920 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2018 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,933 ) 26,702 (46,574 ) (51,805 ) Amounts reclassified from accumulated other comprehensive income (loss) 54,031 63,441 17,803 135,275 Net other comprehensive income (loss) for the period 22,098 90,143 (28,771 ) 83,470 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2019: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2019 ($6,153 ) Other comprehensive income (loss) before reclassifications 14,591 Amounts reclassified from accumulated other comprehensive income (loss) (3,876 ) Net other comprehensive income (loss) for the period 10,715 Ending balance, December 31, 2019 $4,562 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2018: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2018 ($46,400 ) Other comprehensive income (loss) before reclassifications 52,299 Amounts reclassified from accumulated other comprehensive income (loss) (2,003 ) Net other comprehensive income (loss) for the period 50,296 Reclassification pursuant to ASU 2018-02 ($10,049 ) Ending balance, December 31, 2018 ($6,153 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $96,549 ($68,067 ) Competitive business operating revenues Interest rate swaps (194 ) (327 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 96,355 (68,394 ) Income taxes (20,234 ) 14,363 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $76,121 ($54,031 ) Pension and other postretirement liabilities Amortization of prior-service costs $21,300 $21,700 (a) Amortization of loss (83,246 ) (99,186 ) (a) Settlement loss (25,155 ) (3,207 ) (a) Total (87,101 ) (80,693 ) Income taxes 18,555 17,252 Income taxes Total amortization and settlement loss (net of tax) ($68,546 ) ($63,441 ) Net unrealized investment gain (loss) Realized gain (loss) $9,069 ($28,170 ) Interest and investment income Income taxes (3,338 ) 10,367 Income taxes Total realized investment gain (loss) (net of tax) $5,731 ($17,803 ) Total reclassifications for the period (net of tax) $13,306 ($135,275 ) (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, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,349 $7,735 (a) Amortization of loss (2,106 ) (5,025 ) (a) Total amortization 5,243 2,710 Income taxes (1,367 ) (707 ) Income taxes Total amortization (net of tax) 3,876 2,003 Total reclassifications for the period (net of tax) $3,876 $2,003 (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, 2019 | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition. 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 $135.5 million in 2019 , $137.6 million in 2018 , and $122.9 million in 2017 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $131 million in 2020 , and a total of $1.44 billion for the years 2021 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million . Entergy Arkansas has pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. E n tergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. 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 authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In March 2015, after several NRC inspections and regulatory conferences, arising from the stator incident, the NRC placed ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspections that began in early 2016 in order to address the issues required to move ANO back to “licensee response” or Column 1 of the NRC’s Reactor Oversight Process Action Matrix. Excluding remediation and response costs that resulted from the additional NRC inspection activities, Entergy Arkansas incurred approximately $44 million in 2016 and $7 million in 2017 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. In June 2018 the NRC moved ANO 1 and ANO 2 into the “licensee response column,” or Column 1, of the NRC’s Reactor Oversight Process Action Matrix. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs and costs related to the incremental oversight previously noted, subject to certain timelines and conditions set forth in the settlement agreement. 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. 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 2017, 2018, and 2019 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. 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 . In September 2018 the DOE submitted an offer of judgment to resolve claims in the second round Entergy Nuclear Generation Company case involving Pilgrim. The $62 million offer was accepted by Entergy Nuclear Generation Company, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Nuclear Generation Company. Entergy received payment from the U.S. Treasury in October 2018. The effect in 2018 of recording the judgment was a reduction to plant and other operation and maintenance expenses. The Pilgrim damages awarded included $60 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $60 million , Entergy recorded $4 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining Pilgrim plant asset balance to zero , and the excess $46 million as a reduction to other operation and maintenance expense because Pilgrim’s plant asset balance is fully impaired. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. In December 2019 the DOE submitted an offer of judgment to resolve claims in the third round ANO damages case. The $80 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in January 2020. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, depreciation expense, and taxes other than income taxes. The ANO damages awarded included $55 million in costs previously capitalized, $12 million related to costs previously recorded as nuclear fuel expense, $12 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. Of the $55 million , Entergy Arkansas, recorded $5 million as a reduction to previously-recorded depreciation expense. In December 2019 the Entergy FitzPatrick Properties (formerly Entergy Nuclear FitzPatrick) and the DOE entered into a settlement agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $7 million in favor of Entergy FitzPatrick Properties against the DOE in the second round FitzPatrick damages case. Entergy received payment from the U.S. Treasury in January 2020. Substantially all of the FitzPatrick damages awarded relate to costs previously expensed as asset write-offs, impairments, and related charges, and in December 2019 Entergy recorded $7 million as a reduction to asset write-offs, impairments, and related charges. 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. If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. 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 $137.6 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.101 billion ). This retrospective premium is payable at a rate currently set at approximately $21 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 $14 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, 98 nuclear reactors are participating in the Secondary Financial Protection program that provides approximately $14 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 three nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. The Entergy Wholesale Commodities segment previously included two nuclear power reactors that were sold in 2019. Vermont Yankee was sold in January 2019 and Pilgrim was sold in August 2019. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and reactor stabilization, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood for Waterford 3 and River Bend includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Palisades, Indian Point 2, Indian Point 3, and Big Rock Point) have property damage insurance limits as follows: Big Rock Point - $50 million per occurrence; Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Palisades and Indian Point is $500 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind, flood, earthquake, and volcanic eruption at Big Rock Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $14 million . The value of the insured property at the time of an accident at Palisades has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. 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, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage for property damage up to $400 million per occurrence in excess of a $20 million self-insured retention except for property damage caused by the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. 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 certain third parties. 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 state courts, primarily by contractor employees who worked in the 1940-1980s timeframe, primarily against Entergy Texas, and to a lesser extent the other Utility operating companies, as premises owners of power plants, for damages caused by alleged exposure to asbestos. Many other defendants are named in these lawsuits as well. Currently, there are approximately 200 lawsuits involving approximately 400 claimants. Management believes that adequate provisions have been established to cover any exposure. Additionally, negotiations continue with insurers to recover reimbursements. 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 the Utility operating companies. Grand Gulf - Related Agreements Unit Power Sales Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy has agreed to sell all of its share of capacity and energy from Grand Gulf to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans in accordance with specified percentages (Entergy Arkansas- 36% , Entergy Louisiana- 14% , Entergy Mississippi- 33% , and Entergy New Orleans- 17% ) as ordered by the FERC. Charges under this agreement are paid in consideration for the purchasing companies’ respective entitlement to receive capacity and energy and are payable irrespective of the quantity of energy delivered. The agreement will remain in effect until terminated by the parties and the termination is approved by the FERC, most likely upon Grand Gulf’s retirement from service. In December 2016 the NRC granted the extension of Grand Gulf’s operating license to 2044. Monthly obligations are based on actual capacity and energy costs. The average monthly payments for 2019 under the agreement were approximately $17.6 million for Entergy Arkansas, $7 million for Entergy Louisiana, $15.5 million for Entergy Mississippi, and $8.5 million for Entergy New Orleans. See Note 2 to the financial statements for discussion of the complaints filed with the FERC against System Energy seeking a reduction in the return on equity component of the Unit Power Sales Agreement. Availability Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans are individually obligated to make payments or subordinated advances to System Energy in accordance with stated percentages (Entergy Arkansas- 17.1% , Entergy Louisiana- 26.9% , Entergy Mississippi- 31.3% , and Entergy New Orleans- 24.7% ) in amounts that, when added to amounts received under the Unit Power Sales Agreement or otherwise, are adequate to cover all of System Energy’s operating expenses as defined, including an amount sufficient to amortize the cost of Grand Gulf 2 over 27 years (See Reallocation Agreement terms below) and expenses incurred in connection with a permanent shutdown of Grand Gulf. System Energy has assigned its rights to payments and advances to certain creditors as security for certain obligations. Since commercial operation of Grand Gulf began, payments under the Unit Power Sales Agreement have exceeded the amounts payable under the Availability Agreement. Accordingly, no payments under the Availability Agreement have ever been required. If Entergy Arkansas or Entergy Mississippi fails to make its Unit Power Sales Agreement payments, and System Energy is unable to obtain funds from other sources, Entergy Louisiana and Entergy New Orleans could become subject to claims or demands by System Energy or its creditors for payments or advances under the Availability Agreement (or the assignments thereof) equal to the difference between their required Unit Power Sales Agreement payments and their required Availability Agreement payments. Reallocation Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans entered into the Reallocation Agreement relating to the sale of capacity and energy from Grand Gulf and the related costs, in which Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans agreed to assume all of Entergy Arkansas’s responsibilities and obligations with respect to Grand Gulf under the Availability Agreement. The FERC’s decision allocating a portion of Grand Gulf capacity and energy to Entergy Arkansas supersedes the Reallocation Agreement as it relates to Grand Gulf. Responsibility for any Grand Gulf 2 amortization amounts has been individually allocated (Entergy Louisiana- 26.23% , Entergy Mississippi- 43.97% , and Entergy New Orleans- 29.80% ) under the terms of the Reallocation Agreement. However, the Reallocation Agreement does not affect Entergy Arkansas’s obligation to System Energy’s lenders under the assignments referred to in the preceding paragraph. Entergy Arkansas would be liable for its share of such amounts if Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans were unable to meet their contractual obligations. No payments of any amortization amounts will be required so long as amounts paid to System Energy under the Unit Power Sales Agreement, including other funds available to System Energy, exceed amounts required under the Availability Agreement, which is expected to be the case for the foreseeable future. |
Entergy Arkansas [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition. 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 $135.5 million in 2019 , $137.6 million in 2018 , and $122.9 million in 2017 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $131 million in 2020 , and a total of $1.44 billion for the years 2021 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million . Entergy Arkansas has pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. E n tergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. 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 authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In March 2015, after several NRC inspections and regulatory conferences, arising from the stator incident, the NRC placed ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspections that began in early 2016 in order to address the issues required to move ANO back to “licensee response” or Column 1 of the NRC’s Reactor Oversight Process Action Matrix. Excluding remediation and response costs that resulted from the additional NRC inspection activities, Entergy Arkansas incurred approximately $44 million in 2016 and $7 million in 2017 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. In June 2018 the NRC moved ANO 1 and ANO 2 into the “licensee response column,” or Column 1, of the NRC’s Reactor Oversight Process Action Matrix. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs and costs related to the incremental oversight previously noted, subject to certain timelines and conditions set forth in the settlement agreement. 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. 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 2017, 2018, and 2019 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. 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 . In September 2018 the DOE submitted an offer of judgment to resolve claims in the second round Entergy Nuclear Generation Company case involving Pilgrim. The $62 million offer was accepted by Entergy Nuclear Generation Company, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Nuclear Generation Company. Entergy received payment from the U.S. Treasury in October 2018. The effect in 2018 of recording the judgment was a reduction to plant and other operation and maintenance expenses. The Pilgrim damages awarded included $60 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $60 million , Entergy recorded $4 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining Pilgrim plant asset balance to zero , and the excess $46 million as a reduction to other operation and maintenance expense because Pilgrim’s plant asset balance is fully impaired. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. In December 2019 the DOE submitted an offer of judgment to resolve claims in the third round ANO damages case. The $80 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in January 2020. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, depreciation expense, and taxes other than income taxes. The ANO damages awarded included $55 million in costs previously capitalized, $12 million related to costs previously recorded as nuclear fuel expense, $12 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. Of the $55 million , Entergy Arkansas, recorded $5 million as a reduction to previously-recorded depreciation expense. In December 2019 the Entergy FitzPatrick Properties (formerly Entergy Nuclear FitzPatrick) and the DOE entered into a settlement agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $7 million in favor of Entergy FitzPatrick Properties against the DOE in the second round FitzPatrick damages case. Entergy received payment from the U.S. Treasury in January 2020. Substantially all of the FitzPatrick damages awarded relate to costs previously expensed as asset write-offs, impairments, and related charges, and in December 2019 Entergy recorded $7 million as a reduction to asset write-offs, impairments, and related charges. 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. If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. 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 $137.6 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.101 billion ). This retrospective premium is payable at a rate currently set at approximately $21 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 $14 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, 98 nuclear reactors are participating in the Secondary Financial Protection program that provides approximately $14 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 three nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. The Entergy Wholesale Commodities segment previously included two nuclear power reactors that were sold in 2019. Vermont Yankee was sold in January 2019 and Pilgrim was sold in August 2019. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and reactor stabilization, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood for Waterford 3 and River Bend includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Palisades, Indian Point 2, Indian Point 3, and Big Rock Point) have property damage insurance limits as follows: Big Rock Point - $50 million per occurrence; Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Palisades and Indian Point is $500 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind, flood, earthquake, and volcanic eruption at Big Rock Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $14 million . The value of the insured property at the time of an accident at Palisades has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. 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, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage for property damage up to $400 million per occurrence in excess of a $20 million self-insured retention except for property damage caused by the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. 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 certain third parties. 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 state courts, primarily by contractor employees who worked in the 1940-1980s timeframe, primarily against Entergy Texas, and to a lesser extent the other Utility operating companies, as premises owners of power plants, for damages caused by alleged exposure to asbestos. Many other defendants are named in these lawsuits as well. Currently, there are approximately 200 lawsuits involving approximately 400 claimants. Management believes that adequate provisions have been established to cover any exposure. Additionally, negotiations continue with insurers to recover reimbursements. 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 the Utility operating companies. Grand Gulf - Related Agreements Unit Power Sales Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy has agreed to sell all of its share of capacity and energy from Grand Gulf to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans in accordance with specified percentages (Entergy Arkansas- 36% , Entergy Louisiana- 14% , Entergy Mississippi- 33% , and Entergy New Orleans- 17% ) as ordered by the FERC. Charges under this agreement are paid in consideration for the purchasing companies’ respective entitlement to receive capacity and energy and are payable irrespective of the quantity of energy delivered. The agreement will remain in effect until terminated by the parties and the termination is approved by the FERC, most likely upon Grand Gulf’s retirement from service. In December 2016 the NRC granted the extension of Grand Gulf’s operating license to 2044. Monthly obligations are based on actual capacity and energy costs. The average monthly payments for 2019 under the agreement were approximately $17.6 million for Entergy Arkansas, $7 million for Entergy Louisiana, $15.5 million for Entergy Mississippi, and $8.5 million for Entergy New Orleans. See Note 2 to the financial statements for discussion of the complaints filed with the FERC against System Energy seeking a reduction in the return on equity component of the Unit Power Sales Agreement. Availability Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans are individually obligated to make payments or subordinated advances to System Energy in accordance with stated percentages (Entergy Arkansas- 17.1% , Entergy Louisiana- 26.9% , Entergy Mississippi- 31.3% , and Entergy New Orleans- 24.7% ) in amounts that, when added to amounts received under the Unit Power Sales Agreement or otherwise, are adequate to cover all of System Energy’s operating expenses as defined, including an amount sufficient to amortize the cost of Grand Gulf 2 over 27 years (See Reallocation Agreement terms below) and expenses incurred in connection with a permanent shutdown of Grand Gulf. System Energy has assigned its rights to payments and advances to certain creditors as security for certain obligations. Since commercial operation of Grand Gulf began, payments under the Unit Power Sales Agreement have exceeded the amounts payable under the Availability Agreement. Accordingly, no payments under the Availability Agreement have ever been required. If Entergy Arkansas or Entergy Mississippi fails to make its Unit Power Sales Agreement payments, and System Energy is unable to obtain funds from other sources, Entergy Louisiana and Entergy New Orleans could become subject to claims or demands by System Energy or its creditors for payments or advances under the Availability Agreement (or the assignments thereof) equal to the difference between their required Unit Power Sales Agreement payments and their required Availability Agreement payments. Reallocation Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans entered into the Reallocation Agreement relating to the sale of capacity and energy from Grand Gulf and the related costs, in which Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans agreed to assume all of Entergy Arkansas’s responsibilities and obligations with respect to Grand Gulf under the Availability Agreement. The FERC’s decision allocating a portion of Grand Gulf capacity and energy to Entergy Arkansas supersedes the Reallocation Agreement as it relates to Grand Gulf. Responsibility for any Grand Gulf 2 amortization amounts has been individually allocated (Entergy Louisiana- 26.23% , Entergy Mississippi- 43.97% , and Entergy New Orleans- 29.80% ) under the terms of the Reallocation Agreement. However, the Reallocation Agreement does not affect Entergy Arkansas’s obligation to System Energy’s lenders under the assignments referred to in the preceding paragraph. Entergy Arkansas would be liable for its share of such amounts if Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans were unable to meet their contractual obligations. No payments of any amortization amounts will be required so long as amounts paid to System Energy under the Unit Power Sales Agreement, including other funds available to System Energy, exceed amounts required under the Availability Agreement, which is expected to be the case for the foreseeable future. |
Entergy Louisiana [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition. 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 $135.5 million in 2019 , $137.6 million in 2018 , and $122.9 million in 2017 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $131 million in 2020 , and a total of $1.44 billion for the years 2021 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million . Entergy Arkansas has pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. E n tergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. 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 authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In March 2015, after several NRC inspections and regulatory conferences, arising from the stator incident, the NRC placed ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspections that began in early 2016 in order to address the issues required to move ANO back to “licensee response” or Column 1 of the NRC’s Reactor Oversight Process Action Matrix. Excluding remediation and response costs that resulted from the additional NRC inspection activities, Entergy Arkansas incurred approximately $44 million in 2016 and $7 million in 2017 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. In June 2018 the NRC moved ANO 1 and ANO 2 into the “licensee response column,” or Column 1, of the NRC’s Reactor Oversight Process Action Matrix. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs and costs related to the incremental oversight previously noted, subject to certain timelines and conditions set forth in the settlement agreement. 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. 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 2017, 2018, and 2019 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. 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 . In September 2018 the DOE submitted an offer of judgment to resolve claims in the second round Entergy Nuclear Generation Company case involving Pilgrim. The $62 million offer was accepted by Entergy Nuclear Generation Company, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Nuclear Generation Company. Entergy received payment from the U.S. Treasury in October 2018. The effect in 2018 of recording the judgment was a reduction to plant and other operation and maintenance expenses. The Pilgrim damages awarded included $60 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $60 million , Entergy recorded $4 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining Pilgrim plant asset balance to zero , and the excess $46 million as a reduction to other operation and maintenance expense because Pilgrim’s plant asset balance is fully impaired. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. In December 2019 the DOE submitted an offer of judgment to resolve claims in the third round ANO damages case. The $80 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in January 2020. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, depreciation expense, and taxes other than income taxes. The ANO damages awarded included $55 million in costs previously capitalized, $12 million related to costs previously recorded as nuclear fuel expense, $12 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. Of the $55 million , Entergy Arkansas, recorded $5 million as a reduction to previously-recorded depreciation expense. In December 2019 the Entergy FitzPatrick Properties (formerly Entergy Nuclear FitzPatrick) and the DOE entered into a settlement agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $7 million in favor of Entergy FitzPatrick Properties against the DOE in the second round FitzPatrick damages case. Entergy received payment from the U.S. Treasury in January 2020. Substantially all of the FitzPatrick damages awarded relate to costs previously expensed as asset write-offs, impairments, and related charges, and in December 2019 Entergy recorded $7 million as a reduction to asset write-offs, impairments, and related charges. 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. If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. 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 $137.6 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.101 billion ). This retrospective premium is payable at a rate currently set at approximately $21 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 $14 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, 98 nuclear reactors are participating in the Secondary Financial Protection program that provides approximately $14 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 three nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. The Entergy Wholesale Commodities segment previously included two nuclear power reactors that were sold in 2019. Vermont Yankee was sold in January 2019 and Pilgrim was sold in August 2019. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and reactor stabilization, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood for Waterford 3 and River Bend includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Palisades, Indian Point 2, Indian Point 3, and Big Rock Point) have property damage insurance limits as follows: Big Rock Point - $50 million per occurrence; Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Palisades and Indian Point is $500 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind, flood, earthquake, and volcanic eruption at Big Rock Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $14 million . The value of the insured property at the time of an accident at Palisades has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. 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, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage for property damage up to $400 million per occurrence in excess of a $20 million self-insured retention except for property damage caused by the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. 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 certain third parties. 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 state courts, primarily by contractor employees who worked in the 1940-1980s timeframe, primarily against Entergy Texas, and to a lesser extent the other Utility operating companies, as premises owners of power plants, for damages caused by alleged exposure to asbestos. Many other defendants are named in these lawsuits as well. Currently, there are approximately 200 lawsuits involving approximately 400 claimants. Management believes that adequate provisions have been established to cover any exposure. Additionally, negotiations continue with insurers to recover reimbursements. 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 the Utility operating companies. Grand Gulf - Related Agreements Unit Power Sales Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy has agreed to sell all of its share of capacity and energy from Grand Gulf to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans in accordance with specified percentages (Entergy Arkansas- 36% , Entergy Louisiana- 14% , Entergy Mississippi- 33% , and Entergy New Orleans- 17% ) as ordered by the FERC. Charges under this agreement are paid in consideration for the purchasing companies’ respective entitlement to receive capacity and energy and are payable irrespective of the quantity of energy delivered. The agreement will remain in effect until terminated by the parties and the termination is approved by the FERC, most likely upon Grand Gulf’s retirement from service. In December 2016 the NRC granted the extension of Grand Gulf’s operating license to 2044. Monthly obligations are based on actual capacity and energy costs. The average monthly payments for 2019 under the agreement were approximately $17.6 million for Entergy Arkansas, $7 million for Entergy Louisiana, $15.5 million for Entergy Mississippi, and $8.5 million for Entergy New Orleans. See Note 2 to the financial statements for discussion of the complaints filed with the FERC against System Energy seeking a reduction in the return on equity component of the Unit Power Sales Agreement. Availability Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans are individually obligated to make payments or subordinated advances to System Energy in accordance with stated percentages (Entergy Arkansas- 17.1% , Entergy Louisiana- 26.9% , Entergy Mississippi- 31.3% , and Entergy New Orleans- 24.7% ) in amounts that, when added to amounts received under the Unit Power Sales Agreement or otherwise, are adequate to cover all of System Energy’s operating expenses as defined, including an amount sufficient to amortize the cost of Grand Gulf 2 over 27 years (See Reallocation Agreement terms below) and expenses incurred in connection with a permanent shutdown of Grand Gulf. System Energy has assigned its rights to payments and advances to certain creditors as security for certain obligations. Since commercial operation of Grand Gulf began, payments under the Unit Power Sales Agreement have exceeded the amounts payable under the Availability Agreement. Accordingly, no payments under the Availability Agreement have ever been required. If Entergy Arkansas or Entergy Mississippi fails to make its Unit Power Sales Agreement payments, and System Energy is unable to obtain funds from other sources, Entergy Louisiana and Entergy New Orleans could become subject to claims or demands by System Energy or its creditors for payments or advances under the Availability Agreement (or the assignments thereof) equal to the difference between their required Unit Power Sales Agreement payments and their required Availability Agreement payments. Reallocation Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans entered into the Reallocation Agreement relating to the sale of capacity and energy from Grand Gulf and the related costs, in which Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans agreed to assume all of Entergy Arkansas’s responsibilities and obligations with respect to Grand Gulf under the Availability Agreement. The FERC’s decision allocating a portion of Grand Gulf capacity and energy to Entergy Arkansas supersedes the Reallocation Agreement as it relates to Grand Gulf. Responsibility for any Grand Gulf 2 amortization amounts has been individually allocated (Entergy Louisiana- 26.23% , Entergy Mississippi- 43.97% , and Entergy New Orleans- 29.80% ) under the terms of the Reallocation Agreement. However, the Reallocation Agreement does not affect Entergy Arkansas’s obligation to System Energy’s lenders under the assignments referred to in the preceding paragraph. Entergy Arkansas would be liable for its share of such amounts if Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans were unable to meet their contractual obligations. No payments of any amortization amounts will be required so long as amounts paid to System Energy under the Unit Power Sales Agreement, including other funds available to System Energy, exceed amounts required under the Availability Agreement, which is expected to be the case for the foreseeable future. |
Entergy Mississippi [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition. 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 $135.5 million in 2019 , $137.6 million in 2018 , and $122.9 million in 2017 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $131 million in 2020 , and a total of $1.44 billion for the years 2021 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million . Entergy Arkansas has pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. E n tergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. 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 authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In March 2015, after several NRC inspections and regulatory conferences, arising from the stator incident, the NRC placed ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspections that began in early 2016 in order to address the issues required to move ANO back to “licensee response” or Column 1 of the NRC’s Reactor Oversight Process Action Matrix. Excluding remediation and response costs that resulted from the additional NRC inspection activities, Entergy Arkansas incurred approximately $44 million in 2016 and $7 million in 2017 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. In June 2018 the NRC moved ANO 1 and ANO 2 into the “licensee response column,” or Column 1, of the NRC’s Reactor Oversight Process Action Matrix. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs and costs related to the incremental oversight previously noted, subject to certain timelines and conditions set forth in the settlement agreement. 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. 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 2017, 2018, and 2019 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. 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 . In September 2018 the DOE submitted an offer of judgment to resolve claims in the second round Entergy Nuclear Generation Company case involving Pilgrim. The $62 million offer was accepted by Entergy Nuclear Generation Company, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Nuclear Generation Company. Entergy received payment from the U.S. Treasury in October 2018. The effect in 2018 of recording the judgment was a reduction to plant and other operation and maintenance expenses. The Pilgrim damages awarded included $60 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $60 million , Entergy recorded $4 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining Pilgrim plant asset balance to zero , and the excess $46 million as a reduction to other operation and maintenance expense because Pilgrim’s plant asset balance is fully impaired. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. In December 2019 the DOE submitted an offer of judgment to resolve claims in the third round ANO damages case. The $80 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in January 2020. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, depreciation expense, and taxes other than income taxes. The ANO damages awarded included $55 million in costs previously capitalized, $12 million related to costs previously recorded as nuclear fuel expense, $12 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. Of the $55 million , Entergy Arkansas, recorded $5 million as a reduction to previously-recorded depreciation expense. In December 2019 the Entergy FitzPatrick Properties (formerly Entergy Nuclear FitzPatrick) and the DOE entered into a settlement agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $7 million in favor of Entergy FitzPatrick Properties against the DOE in the second round FitzPatrick damages case. Entergy received payment from the U.S. Treasury in January 2020. Substantially all of the FitzPatrick damages awarded relate to costs previously expensed as asset write-offs, impairments, and related charges, and in December 2019 Entergy recorded $7 million as a reduction to asset write-offs, impairments, and related charges. 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. If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. 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 $137.6 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.101 billion ). This retrospective premium is payable at a rate currently set at approximately $21 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 $14 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, 98 nuclear reactors are participating in the Secondary Financial Protection program that provides approximately $14 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 three nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. The Entergy Wholesale Commodities segment previously included two nuclear power reactors that were sold in 2019. Vermont Yankee was sold in January 2019 and Pilgrim was sold in August 2019. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and reactor stabilization, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood for Waterford 3 and River Bend includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Palisades, Indian Point 2, Indian Point 3, and Big Rock Point) have property damage insurance limits as follows: Big Rock Point - $50 million per occurrence; Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Palisades and Indian Point is $500 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind, flood, earthquake, and volcanic eruption at Big Rock Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $14 million . The value of the insured property at the time of an accident at Palisades has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. 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, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage for property damage up to $400 million per occurrence in excess of a $20 million self-insured retention except for property damage caused by the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. 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 certain third parties. 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 state courts, primarily by contractor employees who worked in the 1940-1980s timeframe, primarily against Entergy Texas, and to a lesser extent the other Utility operating companies, as premises owners of power plants, for damages caused by alleged exposure to asbestos. Many other defendants are named in these lawsuits as well. Currently, there are approximately 200 lawsuits involving approximately 400 claimants. Management believes that adequate provisions have been established to cover any exposure. Additionally, negotiations continue with insurers to recover reimbursements. 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 the Utility operating companies. Grand Gulf - Related Agreements Unit Power Sales Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy has agreed to sell all of its share of capacity and energy from Grand Gulf to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans in accordance with specified percentages (Entergy Arkansas- 36% , Entergy Louisiana- 14% , Entergy Mississippi- 33% , and Entergy New Orleans- 17% ) as ordered by the FERC. Charges under this agreement are paid in consideration for the purchasing companies’ respective entitlement to receive capacity and energy and are payable irrespective of the quantity of energy delivered. The agreement will remain in effect until terminated by the parties and the termination is approved by the FERC, most likely upon Grand Gulf’s retirement from service. In December 2016 the NRC granted the extension of Grand Gulf’s operating license to 2044. Monthly obligations are based on actual capacity and energy costs. The average monthly payments for 2019 under the agreement were approximately $17.6 million for Entergy Arkansas, $7 million for Entergy Louisiana, $15.5 million for Entergy Mississippi, and $8.5 million for Entergy New Orleans. See Note 2 to the financial statements for discussion of the complaints filed with the FERC against System Energy seeking a reduction in the return on equity component of the Unit Power Sales Agreement. Availability Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans are individually obligated to make payments or subordinated advances to System Energy in accordance with stated percentages (Entergy Arkansas- 17.1% , Entergy Louisiana- 26.9% , Entergy Mississippi- 31.3% , and Entergy New Orleans- 24.7% ) in amounts that, when added to amounts received under the Unit Power Sales Agreement or otherwise, are adequate to cover all of System Energy’s operating expenses as defined, including an amount sufficient to amortize the cost of Grand Gulf 2 over 27 years (See Reallocation Agreement terms below) and expenses incurred in connection with a permanent shutdown of Grand Gulf. System Energy has assigned its rights to payments and advances to certain creditors as security for certain obligations. Since commercial operation of Grand Gulf began, payments under the Unit Power Sales Agreement have exceeded the amounts payable under the Availability Agreement. Accordingly, no payments under the Availability Agreement have ever been required. If Entergy Arkansas or Entergy Mississippi fails to make its Unit Power Sales Agreement payments, and System Energy is unable to obtain funds from other sources, Entergy Louisiana and Entergy New Orleans could become subject to claims or demands by System Energy or its creditors for payments or advances under the Availability Agreement (or the assignments thereof) equal to the difference between their required Unit Power Sales Agreement payments and their required Availability Agreement payments. Reallocation Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans entered into the Reallocation Agreement relating to the sale of capacity and energy from Grand Gulf and the related costs, in which Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans agreed to assume all of Entergy Arkansas’s responsibilities and obligations with respect to Grand Gulf under the Availability Agreement. The FERC’s decision allocating a portion of Grand Gulf capacity and energy to Entergy Arkansas supersedes the Reallocation Agreement as it relates to Grand Gulf. Responsibility for any Grand Gulf 2 amortization amounts has been individually allocated (Entergy Louisiana- 26.23% , Entergy Mississippi- 43.97% , and Entergy New Orleans- 29.80% ) under the terms of the Reallocation Agreement. However, the Reallocation Agreement does not affect Entergy Arkansas’s obligation to System Energy’s lenders under the assignments referred to in the preceding paragraph. Entergy Arkansas would be liable for its share of such amounts if Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans were unable to meet their contractual obligations. No payments of any amortization amounts will be required so long as amounts paid to System Energy under the Unit Power Sales Agreement, including other funds available to System Energy, exceed amounts required under the Availability Agreement, which is expected to be the case for the foreseeable future. |
Entergy New Orleans [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition. 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 $135.5 million in 2019 , $137.6 million in 2018 , and $122.9 million in 2017 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $131 million in 2020 , and a total of $1.44 billion for the years 2021 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million . Entergy Arkansas has pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. E n tergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. 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 authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In March 2015, after several NRC inspections and regulatory conferences, arising from the stator incident, the NRC placed ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspections that began in early 2016 in order to address the issues required to move ANO back to “licensee response” or Column 1 of the NRC’s Reactor Oversight Process Action Matrix. Excluding remediation and response costs that resulted from the additional NRC inspection activities, Entergy Arkansas incurred approximately $44 million in 2016 and $7 million in 2017 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. In June 2018 the NRC moved ANO 1 and ANO 2 into the “licensee response column,” or Column 1, of the NRC’s Reactor Oversight Process Action Matrix. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs and costs related to the incremental oversight previously noted, subject to certain timelines and conditions set forth in the settlement agreement. 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. 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 2017, 2018, and 2019 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. 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 . In September 2018 the DOE submitted an offer of judgment to resolve claims in the second round Entergy Nuclear Generation Company case involving Pilgrim. The $62 million offer was accepted by Entergy Nuclear Generation Company, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Nuclear Generation Company. Entergy received payment from the U.S. Treasury in October 2018. The effect in 2018 of recording the judgment was a reduction to plant and other operation and maintenance expenses. The Pilgrim damages awarded included $60 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $60 million , Entergy recorded $4 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining Pilgrim plant asset balance to zero , and the excess $46 million as a reduction to other operation and maintenance expense because Pilgrim’s plant asset balance is fully impaired. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. In December 2019 the DOE submitted an offer of judgment to resolve claims in the third round ANO damages case. The $80 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in January 2020. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, depreciation expense, and taxes other than income taxes. The ANO damages awarded included $55 million in costs previously capitalized, $12 million related to costs previously recorded as nuclear fuel expense, $12 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. Of the $55 million , Entergy Arkansas, recorded $5 million as a reduction to previously-recorded depreciation expense. In December 2019 the Entergy FitzPatrick Properties (formerly Entergy Nuclear FitzPatrick) and the DOE entered into a settlement agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $7 million in favor of Entergy FitzPatrick Properties against the DOE in the second round FitzPatrick damages case. Entergy received payment from the U.S. Treasury in January 2020. Substantially all of the FitzPatrick damages awarded relate to costs previously expensed as asset write-offs, impairments, and related charges, and in December 2019 Entergy recorded $7 million as a reduction to asset write-offs, impairments, and related charges. 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. If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. 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 $137.6 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.101 billion ). This retrospective premium is payable at a rate currently set at approximately $21 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 $14 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, 98 nuclear reactors are participating in the Secondary Financial Protection program that provides approximately $14 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 three nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. The Entergy Wholesale Commodities segment previously included two nuclear power reactors that were sold in 2019. Vermont Yankee was sold in January 2019 and Pilgrim was sold in August 2019. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and reactor stabilization, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood for Waterford 3 and River Bend includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Palisades, Indian Point 2, Indian Point 3, and Big Rock Point) have property damage insurance limits as follows: Big Rock Point - $50 million per occurrence; Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Palisades and Indian Point is $500 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind, flood, earthquake, and volcanic eruption at Big Rock Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $14 million . The value of the insured property at the time of an accident at Palisades has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. 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, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage for property damage up to $400 million per occurrence in excess of a $20 million self-insured retention except for property damage caused by the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. 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 certain third parties. 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 state courts, primarily by contractor employees who worked in the 1940-1980s timeframe, primarily against Entergy Texas, and to a lesser extent the other Utility operating companies, as premises owners of power plants, for damages caused by alleged exposure to asbestos. Many other defendants are named in these lawsuits as well. Currently, there are approximately 200 lawsuits involving approximately 400 claimants. Management believes that adequate provisions have been established to cover any exposure. Additionally, negotiations continue with insurers to recover reimbursements. 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 the Utility operating companies. Grand Gulf - Related Agreements Unit Power Sales Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy has agreed to sell all of its share of capacity and energy from Grand Gulf to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans in accordance with specified percentages (Entergy Arkansas- 36% , Entergy Louisiana- 14% , Entergy Mississippi- 33% , and Entergy New Orleans- 17% ) as ordered by the FERC. Charges under this agreement are paid in consideration for the purchasing companies’ respective entitlement to receive capacity and energy and are payable irrespective of the quantity of energy delivered. The agreement will remain in effect until terminated by the parties and the termination is approved by the FERC, most likely upon Grand Gulf’s retirement from service. In December 2016 the NRC granted the extension of Grand Gulf’s operating license to 2044. Monthly obligations are based on actual capacity and energy costs. The average monthly payments for 2019 under the agreement were approximately $17.6 million for Entergy Arkansas, $7 million for Entergy Louisiana, $15.5 million for Entergy Mississippi, and $8.5 million for Entergy New Orleans. See Note 2 to the financial statements for discussion of the complaints filed with the FERC against System Energy seeking a reduction in the return on equity component of the Unit Power Sales Agreement. Availability Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans are individually obligated to make payments or subordinated advances to System Energy in accordance with stated percentages (Entergy Arkansas- 17.1% , Entergy Louisiana- 26.9% , Entergy Mississippi- 31.3% , and Entergy New Orleans- 24.7% ) in amounts that, when added to amounts received under the Unit Power Sales Agreement or otherwise, are adequate to cover all of System Energy’s operating expenses as defined, including an amount sufficient to amortize the cost of Grand Gulf 2 over 27 years (See Reallocation Agreement terms below) and expenses incurred in connection with a permanent shutdown of Grand Gulf. System Energy has assigned its rights to payments and advances to certain creditors as security for certain obligations. Since commercial operation of Grand Gulf began, payments under the Unit Power Sales Agreement have exceeded the amounts payable under the Availability Agreement. Accordingly, no payments under the Availability Agreement have ever been required. If Entergy Arkansas or Entergy Mississippi fails to make its Unit Power Sales Agreement payments, and System Energy is unable to obtain funds from other sources, Entergy Louisiana and Entergy New Orleans could become subject to claims or demands by System Energy or its creditors for payments or advances under the Availability Agreement (or the assignments thereof) equal to the difference between their required Unit Power Sales Agreement payments and their required Availability Agreement payments. Reallocation Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans entered into the Reallocation Agreement relating to the sale of capacity and energy from Grand Gulf and the related costs, in which Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans agreed to assume all of Entergy Arkansas’s responsibilities and obligations with respect to Grand Gulf under the Availability Agreement. The FERC’s decision allocating a portion of Grand Gulf capacity and energy to Entergy Arkansas supersedes the Reallocation Agreement as it relates to Grand Gulf. Responsibility for any Grand Gulf 2 amortization amounts has been individually allocated (Entergy Louisiana- 26.23% , Entergy Mississippi- 43.97% , and Entergy New Orleans- 29.80% ) under the terms of the Reallocation Agreement. However, the Reallocation Agreement does not affect Entergy Arkansas’s obligation to System Energy’s lenders under the assignments referred to in the preceding paragraph. Entergy Arkansas would be liable for its share of such amounts if Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans were unable to meet their contractual obligations. No payments of any amortization amounts will be required so long as amounts paid to System Energy under the Unit Power Sales Agreement, including other funds available to System Energy, exceed amounts required under the Availability Agreement, which is expected to be the case for the foreseeable future. |
Entergy Texas [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition. 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 $135.5 million in 2019 , $137.6 million in 2018 , and $122.9 million in 2017 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $131 million in 2020 , and a total of $1.44 billion for the years 2021 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million . Entergy Arkansas has pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. E n tergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. 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 authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In March 2015, after several NRC inspections and regulatory conferences, arising from the stator incident, the NRC placed ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspections that began in early 2016 in order to address the issues required to move ANO back to “licensee response” or Column 1 of the NRC’s Reactor Oversight Process Action Matrix. Excluding remediation and response costs that resulted from the additional NRC inspection activities, Entergy Arkansas incurred approximately $44 million in 2016 and $7 million in 2017 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. In June 2018 the NRC moved ANO 1 and ANO 2 into the “licensee response column,” or Column 1, of the NRC’s Reactor Oversight Process Action Matrix. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs and costs related to the incremental oversight previously noted, subject to certain timelines and conditions set forth in the settlement agreement. 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. 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 2017, 2018, and 2019 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. 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 . In September 2018 the DOE submitted an offer of judgment to resolve claims in the second round Entergy Nuclear Generation Company case involving Pilgrim. The $62 million offer was accepted by Entergy Nuclear Generation Company, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Nuclear Generation Company. Entergy received payment from the U.S. Treasury in October 2018. The effect in 2018 of recording the judgment was a reduction to plant and other operation and maintenance expenses. The Pilgrim damages awarded included $60 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $60 million , Entergy recorded $4 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining Pilgrim plant asset balance to zero , and the excess $46 million as a reduction to other operation and maintenance expense because Pilgrim’s plant asset balance is fully impaired. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. In December 2019 the DOE submitted an offer of judgment to resolve claims in the third round ANO damages case. The $80 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in January 2020. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, depreciation expense, and taxes other than income taxes. The ANO damages awarded included $55 million in costs previously capitalized, $12 million related to costs previously recorded as nuclear fuel expense, $12 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. Of the $55 million , Entergy Arkansas, recorded $5 million as a reduction to previously-recorded depreciation expense. In December 2019 the Entergy FitzPatrick Properties (formerly Entergy Nuclear FitzPatrick) and the DOE entered into a settlement agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $7 million in favor of Entergy FitzPatrick Properties against the DOE in the second round FitzPatrick damages case. Entergy received payment from the U.S. Treasury in January 2020. Substantially all of the FitzPatrick damages awarded relate to costs previously expensed as asset write-offs, impairments, and related charges, and in December 2019 Entergy recorded $7 million as a reduction to asset write-offs, impairments, and related charges. 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. If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. 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 $137.6 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.101 billion ). This retrospective premium is payable at a rate currently set at approximately $21 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 $14 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, 98 nuclear reactors are participating in the Secondary Financial Protection program that provides approximately $14 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 three nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. The Entergy Wholesale Commodities segment previously included two nuclear power reactors that were sold in 2019. Vermont Yankee was sold in January 2019 and Pilgrim was sold in August 2019. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and reactor stabilization, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood for Waterford 3 and River Bend includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Palisades, Indian Point 2, Indian Point 3, and Big Rock Point) have property damage insurance limits as follows: Big Rock Point - $50 million per occurrence; Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Palisades and Indian Point is $500 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind, flood, earthquake, and volcanic eruption at Big Rock Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $14 million . The value of the insured property at the time of an accident at Palisades has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. 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, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage for property damage up to $400 million per occurrence in excess of a $20 million self-insured retention except for property damage caused by the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. 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 certain third parties. 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 state courts, primarily by contractor employees who worked in the 1940-1980s timeframe, primarily against Entergy Texas, and to a lesser extent the other Utility operating companies, as premises owners of power plants, for damages caused by alleged exposure to asbestos. Many other defendants are named in these lawsuits as well. Currently, there are approximately 200 lawsuits involving approximately 400 claimants. Management believes that adequate provisions have been established to cover any exposure. Additionally, negotiations continue with insurers to recover reimbursements. 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 the Utility operating companies. Grand Gulf - Related Agreements Unit Power Sales Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy has agreed to sell all of its share of capacity and energy from Grand Gulf to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans in accordance with specified percentages (Entergy Arkansas- 36% , Entergy Louisiana- 14% , Entergy Mississippi- 33% , and Entergy New Orleans- 17% ) as ordered by the FERC. Charges under this agreement are paid in consideration for the purchasing companies’ respective entitlement to receive capacity and energy and are payable irrespective of the quantity of energy delivered. The agreement will remain in effect until terminated by the parties and the termination is approved by the FERC, most likely upon Grand Gulf’s retirement from service. In December 2016 the NRC granted the extension of Grand Gulf’s operating license to 2044. Monthly obligations are based on actual capacity and energy costs. The average monthly payments for 2019 under the agreement were approximately $17.6 million for Entergy Arkansas, $7 million for Entergy Louisiana, $15.5 million for Entergy Mississippi, and $8.5 million for Entergy New Orleans. See Note 2 to the financial statements for discussion of the complaints filed with the FERC against System Energy seeking a reduction in the return on equity component of the Unit Power Sales Agreement. Availability Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans are individually obligated to make payments or subordinated advances to System Energy in accordance with stated percentages (Entergy Arkansas- 17.1% , Entergy Louisiana- 26.9% , Entergy Mississippi- 31.3% , and Entergy New Orleans- 24.7% ) in amounts that, when added to amounts received under the Unit Power Sales Agreement or otherwise, are adequate to cover all of System Energy’s operating expenses as defined, including an amount sufficient to amortize the cost of Grand Gulf 2 over 27 years (See Reallocation Agreement terms below) and expenses incurred in connection with a permanent shutdown of Grand Gulf. System Energy has assigned its rights to payments and advances to certain creditors as security for certain obligations. Since commercial operation of Grand Gulf began, payments under the Unit Power Sales Agreement have exceeded the amounts payable under the Availability Agreement. Accordingly, no payments under the Availability Agreement have ever been required. If Entergy Arkansas or Entergy Mississippi fails to make its Unit Power Sales Agreement payments, and System Energy is unable to obtain funds from other sources, Entergy Louisiana and Entergy New Orleans could become subject to claims or demands by System Energy or its creditors for payments or advances under the Availability Agreement (or the assignments thereof) equal to the difference between their required Unit Power Sales Agreement payments and their required Availability Agreement payments. Reallocation Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans entered into the Reallocation Agreement relating to the sale of capacity and energy from Grand Gulf and the related costs, in which Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans agreed to assume all of Entergy Arkansas’s responsibilities and obligations with respect to Grand Gulf under the Availability Agreement. The FERC’s decision allocating a portion of Grand Gulf capacity and energy to Entergy Arkansas supersedes the Reallocation Agreement as it relates to Grand Gulf. Responsibility for any Grand Gulf 2 amortization amounts has been individually allocated (Entergy Louisiana- 26.23% , Entergy Mississippi- 43.97% , and Entergy New Orleans- 29.80% ) under the terms of the Reallocation Agreement. However, the Reallocation Agreement does not affect Entergy Arkansas’s obligation to System Energy’s lenders under the assignments referred to in the preceding paragraph. Entergy Arkansas would be liable for its share of such amounts if Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans were unable to meet their contractual obligations. No payments of any amortization amounts will be required so long as amounts paid to System Energy under the Unit Power Sales Agreement, including other funds available to System Energy, exceed amounts required under the Availability Agreement, which is expected to be the case for the foreseeable future. |
System Energy [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition. 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 $135.5 million in 2019 , $137.6 million in 2018 , and $122.9 million in 2017 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $131 million in 2020 , and a total of $1.44 billion for the years 2021 through 2031. Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause. In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $95 million . Entergy Arkansas has pursued its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy Arkansas collected $50 million in 2014 from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. E n tergy Arkansas also collected a total of $21 million in 2018 as a result of stator-related settlements. 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 authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In March 2015, after several NRC inspections and regulatory conferences, arising from the stator incident, the NRC placed ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspections that began in early 2016 in order to address the issues required to move ANO back to “licensee response” or Column 1 of the NRC’s Reactor Oversight Process Action Matrix. Excluding remediation and response costs that resulted from the additional NRC inspection activities, Entergy Arkansas incurred approximately $44 million in 2016 and $7 million in 2017 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. In June 2018 the NRC moved ANO 1 and ANO 2 into the “licensee response column,” or Column 1, of the NRC’s Reactor Oversight Process Action Matrix. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a regulatory proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs and costs related to the incremental oversight previously noted, subject to certain timelines and conditions set forth in the settlement agreement. 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. 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 2017, 2018, and 2019 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. 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 . In September 2018 the DOE submitted an offer of judgment to resolve claims in the second round Entergy Nuclear Generation Company case involving Pilgrim. The $62 million offer was accepted by Entergy Nuclear Generation Company, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Nuclear Generation Company. Entergy received payment from the U.S. Treasury in October 2018. The effect in 2018 of recording the judgment was a reduction to plant and other operation and maintenance expenses. The Pilgrim damages awarded included $60 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $60 million , Entergy recorded $4 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining Pilgrim plant asset balance to zero , and the excess $46 million as a reduction to other operation and maintenance expense because Pilgrim’s plant asset balance is fully impaired. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. In December 2019 the DOE submitted an offer of judgment to resolve claims in the third round ANO damages case. The $80 million offer was accepted by Entergy Arkansas, and the U.S. Court of Federal Claims issued a judgment in that amount in favor of Entergy Arkansas and against the DOE. Entergy Arkansas received payment from the U.S. Treasury in January 2020. The effects in 2019 of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, depreciation expense, and taxes other than income taxes. The ANO damages awarded included $55 million in costs previously capitalized, $12 million related to costs previously recorded as nuclear fuel expense, $12 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. Of the $55 million , Entergy Arkansas, recorded $5 million as a reduction to previously-recorded depreciation expense. In December 2019 the Entergy FitzPatrick Properties (formerly Entergy Nuclear FitzPatrick) and the DOE entered into a settlement agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $7 million in favor of Entergy FitzPatrick Properties against the DOE in the second round FitzPatrick damages case. Entergy received payment from the U.S. Treasury in January 2020. Substantially all of the FitzPatrick damages awarded relate to costs previously expensed as asset write-offs, impairments, and related charges, and in December 2019 Entergy recorded $7 million as a reduction to asset write-offs, impairments, and related charges. 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. If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. 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 $137.6 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.101 billion ). This retrospective premium is payable at a rate currently set at approximately $21 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 $14 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, 98 nuclear reactors are participating in the Secondary Financial Protection program that provides approximately $14 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 three nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. The Entergy Wholesale Commodities segment previously included two nuclear power reactors that were sold in 2019. Vermont Yankee was sold in January 2019 and Pilgrim was sold in August 2019. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and reactor stabilization, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood for Waterford 3 and River Bend includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Palisades, Indian Point 2, Indian Point 3, and Big Rock Point) have property damage insurance limits as follows: Big Rock Point - $50 million per occurrence; Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Palisades and Indian Point is $500 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $50 million . Property damage from wind, flood, earthquake, and volcanic eruption at Big Rock Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million , up to a maximum deductible of $14 million . The value of the insured property at the time of an accident at Palisades has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. 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, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage for property damage up to $400 million per occurrence in excess of a $20 million self-insured retention except for property damage caused by the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. 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 certain third parties. 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 state courts, primarily by contractor employees who worked in the 1940-1980s timeframe, primarily against Entergy Texas, and to a lesser extent the other Utility operating companies, as premises owners of power plants, for damages caused by alleged exposure to asbestos. Many other defendants are named in these lawsuits as well. Currently, there are approximately 200 lawsuits involving approximately 400 claimants. Management believes that adequate provisions have been established to cover any exposure. Additionally, negotiations continue with insurers to recover reimbursements. 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 the Utility operating companies. Grand Gulf - Related Agreements Unit Power Sales Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy has agreed to sell all of its share of capacity and energy from Grand Gulf to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans in accordance with specified percentages (Entergy Arkansas- 36% , Entergy Louisiana- 14% , Entergy Mississippi- 33% , and Entergy New Orleans- 17% ) as ordered by the FERC. Charges under this agreement are paid in consideration for the purchasing companies’ respective entitlement to receive capacity and energy and are payable irrespective of the quantity of energy delivered. The agreement will remain in effect until terminated by the parties and the termination is approved by the FERC, most likely upon Grand Gulf’s retirement from service. In December 2016 the NRC granted the extension of Grand Gulf’s operating license to 2044. Monthly obligations are based on actual capacity and energy costs. The average monthly payments for 2019 under the agreement were approximately $17.6 million for Entergy Arkansas, $7 million for Entergy Louisiana, $15.5 million for Entergy Mississippi, and $8.5 million for Entergy New Orleans. See Note 2 to the financial statements for discussion of the complaints filed with the FERC against System Energy seeking a reduction in the return on equity component of the Unit Power Sales Agreement. Availability Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans are individually obligated to make payments or subordinated advances to System Energy in accordance with stated percentages (Entergy Arkansas- 17.1% , Entergy Louisiana- 26.9% , Entergy Mississippi- 31.3% , and Entergy New Orleans- 24.7% ) in amounts that, when added to amounts received under the Unit Power Sales Agreement or otherwise, are adequate to cover all of System Energy’s operating expenses as defined, including an amount sufficient to amortize the cost of Grand Gulf 2 over 27 years (See Reallocation Agreement terms below) and expenses incurred in connection with a permanent shutdown of Grand Gulf. System Energy has assigned its rights to payments and advances to certain creditors as security for certain obligations. Since commercial operation of Grand Gulf began, payments under the Unit Power Sales Agreement have exceeded the amounts payable under the Availability Agreement. Accordingly, no payments under the Availability Agreement have ever been required. If Entergy Arkansas or Entergy Mississippi fails to make its Unit Power Sales Agreement payments, and System Energy is unable to obtain funds from other sources, Entergy Louisiana and Entergy New Orleans could become subject to claims or demands by System Energy or its creditors for payments or advances under the Availability Agreement (or the assignments thereof) equal to the difference between their required Unit Power Sales Agreement payments and their required Availability Agreement payments. Reallocation Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans entered into the Reallocation Agreement relating to the sale of capacity and energy from Grand Gulf and the related costs, in which Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans agreed to assume all of Entergy Arkansas’s responsibilities and obligations with respect to Grand Gulf under the Availability Agreement. The FERC’s decision allocating a portion of Grand Gulf capacity and energy to Entergy Arkansas supersedes the Reallocation Agreement as it relates to Grand Gulf. Responsibility for any Grand Gulf 2 amortization amounts has been individually allocated (Entergy Louisiana- 26.23% , Entergy Mississippi- 43.97% , and Entergy New Orleans- 29.80% ) under the terms of the Reallocation Agreement. However, the Reallocation Agreement does not affect Entergy Arkansas’s obligation to System Energy’s lenders under the assignments referred to in the preceding paragraph. Entergy Arkansas would be liable for its share of such amounts if Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans were unable to meet their contractual obligations. No payments of any amortization amounts will be required so long as amounts paid to System Energy under the Unit Power Sales Agreement, including other funds available to System Energy, exceed amounts required under the Availability Agreement, which is expected to be the case for the foreseeable future. |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2019 | |
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 and asset retirement costs 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, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. 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 2019 , 2018 , and 2017 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the first quarter 2018, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in an $85.4 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 first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, 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 $147.5 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 useful life of the unit. Entergy Wholesale Commodities Palisades In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. Pilgrim Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant in anticipation of its May 2019 shutdown. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge. Vermont Yankee In the fourth quarter 2018, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee. The revised estimate resulted in a $293 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The revision was prompted by the progress of the Vermont Yankee sales transaction, which is described in Note 14 to the financial statements. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, upon determining that Vermont Yankee was in held for sale status. Based on the terms of the sales agreement, which include Entergy receiving a note receivable from the purchaser, Entergy determined that $165 million of the asset retirement cost was impaired, and it was accordingly written down in the fourth quarter 2018. The Vermont Yankee plant was sold to NorthStar in January 2019. NRC Filings Regarding Trust Funding Levels Plant 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, 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, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. As nuclear plants individually approach and begin decommissioning, filings will be submitted to the NRC for planned shutdown activities. These filings with the NRC also determine whether financial assurance may be required in addition to the nuclear decommissioning trust fund. 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 Resource Conservation and Recovery Act (RCRA) Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the coal combustion residuals (CCR) rule in light of the WIIN Act. In March 2018 the EPA published its proposed revisions to the CCR rule with comments due at the end of April 2018. In July 2018 the EPA released its initial revisions extending certain deadlines and incorporating some risk-based standards. The EPA is expected to release additional revisions in another rulemaking. In August 2018 the D.C. Circuit vacated several provisions of the CCR rule on the basis that they were inconsistent with the Resource Conservation and Recovery Act and remanded the matter to the EPA to conduct further rulemaking. In August 2019 the EPA released its second set of proposed revisions to the CCR rule and plans at least three additional rulemakings. In 2018 revisions to the CCR asset retirement obligations were made as a result of revised closure and post-closure cost estimates. The revised estimates resulted in increases of $8.9 million at Entergy Arkansas, $0.5 million at Entergy Mississippi, and $0.1 million at Entergy Wholesale Commodities in decommissioning cost liabilities, along with corresponding increases in related asset retirement cost assets that will be depreciated over the remaining useful lives of the respective units. |
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 and asset retirement costs 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, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. 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 2019 , 2018 , and 2017 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the first quarter 2018, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in an $85.4 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 first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, 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 $147.5 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 useful life of the unit. Entergy Wholesale Commodities Palisades In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. Pilgrim Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant in anticipation of its May 2019 shutdown. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge. Vermont Yankee In the fourth quarter 2018, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee. The revised estimate resulted in a $293 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The revision was prompted by the progress of the Vermont Yankee sales transaction, which is described in Note 14 to the financial statements. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, upon determining that Vermont Yankee was in held for sale status. Based on the terms of the sales agreement, which include Entergy receiving a note receivable from the purchaser, Entergy determined that $165 million of the asset retirement cost was impaired, and it was accordingly written down in the fourth quarter 2018. The Vermont Yankee plant was sold to NorthStar in January 2019. NRC Filings Regarding Trust Funding Levels Plant 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, 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, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. As nuclear plants individually approach and begin decommissioning, filings will be submitted to the NRC for planned shutdown activities. These filings with the NRC also determine whether financial assurance may be required in addition to the nuclear decommissioning trust fund. 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 Resource Conservation and Recovery Act (RCRA) Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the coal combustion residuals (CCR) rule in light of the WIIN Act. In March 2018 the EPA published its proposed revisions to the CCR rule with comments due at the end of April 2018. In July 2018 the EPA released its initial revisions extending certain deadlines and incorporating some risk-based standards. The EPA is expected to release additional revisions in another rulemaking. In August 2018 the D.C. Circuit vacated several provisions of the CCR rule on the basis that they were inconsistent with the Resource Conservation and Recovery Act and remanded the matter to the EPA to conduct further rulemaking. In August 2019 the EPA released its second set of proposed revisions to the CCR rule and plans at least three additional rulemakings. In 2018 revisions to the CCR asset retirement obligations were made as a result of revised closure and post-closure cost estimates. The revised estimates resulted in increases of $8.9 million at Entergy Arkansas, $0.5 million at Entergy Mississippi, and $0.1 million at Entergy Wholesale Commodities in decommissioning cost liabilities, along with corresponding increases in related asset retirement cost assets that will be depreciated over the remaining useful lives of the respective units. |
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 and asset retirement costs 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, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. 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 2019 , 2018 , and 2017 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the first quarter 2018, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in an $85.4 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 first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, 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 $147.5 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 useful life of the unit. Entergy Wholesale Commodities Palisades In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. Pilgrim Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant in anticipation of its May 2019 shutdown. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge. Vermont Yankee In the fourth quarter 2018, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee. The revised estimate resulted in a $293 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The revision was prompted by the progress of the Vermont Yankee sales transaction, which is described in Note 14 to the financial statements. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, upon determining that Vermont Yankee was in held for sale status. Based on the terms of the sales agreement, which include Entergy receiving a note receivable from the purchaser, Entergy determined that $165 million of the asset retirement cost was impaired, and it was accordingly written down in the fourth quarter 2018. The Vermont Yankee plant was sold to NorthStar in January 2019. NRC Filings Regarding Trust Funding Levels Plant 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, 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, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. As nuclear plants individually approach and begin decommissioning, filings will be submitted to the NRC for planned shutdown activities. These filings with the NRC also determine whether financial assurance may be required in addition to the nuclear decommissioning trust fund. 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 Resource Conservation and Recovery Act (RCRA) Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the coal combustion residuals (CCR) rule in light of the WIIN Act. In March 2018 the EPA published its proposed revisions to the CCR rule with comments due at the end of April 2018. In July 2018 the EPA released its initial revisions extending certain deadlines and incorporating some risk-based standards. The EPA is expected to release additional revisions in another rulemaking. In August 2018 the D.C. Circuit vacated several provisions of the CCR rule on the basis that they were inconsistent with the Resource Conservation and Recovery Act and remanded the matter to the EPA to conduct further rulemaking. In August 2019 the EPA released its second set of proposed revisions to the CCR rule and plans at least three additional rulemakings. In 2018 revisions to the CCR asset retirement obligations were made as a result of revised closure and post-closure cost estimates. The revised estimates resulted in increases of $8.9 million at Entergy Arkansas, $0.5 million at Entergy Mississippi, and $0.1 million at Entergy Wholesale Commodities in decommissioning cost liabilities, along with corresponding increases in related asset retirement cost assets that will be depreciated over the remaining useful lives of the respective units. |
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 and asset retirement costs 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, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. 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 2019 , 2018 , and 2017 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the first quarter 2018, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in an $85.4 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 first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, 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 $147.5 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 useful life of the unit. Entergy Wholesale Commodities Palisades In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. Pilgrim Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant in anticipation of its May 2019 shutdown. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge. Vermont Yankee In the fourth quarter 2018, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee. The revised estimate resulted in a $293 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The revision was prompted by the progress of the Vermont Yankee sales transaction, which is described in Note 14 to the financial statements. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, upon determining that Vermont Yankee was in held for sale status. Based on the terms of the sales agreement, which include Entergy receiving a note receivable from the purchaser, Entergy determined that $165 million of the asset retirement cost was impaired, and it was accordingly written down in the fourth quarter 2018. The Vermont Yankee plant was sold to NorthStar in January 2019. NRC Filings Regarding Trust Funding Levels Plant 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, 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, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. As nuclear plants individually approach and begin decommissioning, filings will be submitted to the NRC for planned shutdown activities. These filings with the NRC also determine whether financial assurance may be required in addition to the nuclear decommissioning trust fund. 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 Resource Conservation and Recovery Act (RCRA) Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the coal combustion residuals (CCR) rule in light of the WIIN Act. In March 2018 the EPA published its proposed revisions to the CCR rule with comments due at the end of April 2018. In July 2018 the EPA released its initial revisions extending certain deadlines and incorporating some risk-based standards. The EPA is expected to release additional revisions in another rulemaking. In August 2018 the D.C. Circuit vacated several provisions of the CCR rule on the basis that they were inconsistent with the Resource Conservation and Recovery Act and remanded the matter to the EPA to conduct further rulemaking. In August 2019 the EPA released its second set of proposed revisions to the CCR rule and plans at least three additional rulemakings. In 2018 revisions to the CCR asset retirement obligations were made as a result of revised closure and post-closure cost estimates. The revised estimates resulted in increases of $8.9 million at Entergy Arkansas, $0.5 million at Entergy Mississippi, and $0.1 million at Entergy Wholesale Commodities in decommissioning cost liabilities, along with corresponding increases in related asset retirement cost assets that will be depreciated over the remaining useful lives of the respective units. |
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 and asset retirement costs 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, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. 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 2019 , 2018 , and 2017 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the first quarter 2018, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in an $85.4 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 first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, 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 $147.5 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 useful life of the unit. Entergy Wholesale Commodities Palisades In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. Pilgrim Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant in anticipation of its May 2019 shutdown. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge. Vermont Yankee In the fourth quarter 2018, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee. The revised estimate resulted in a $293 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The revision was prompted by the progress of the Vermont Yankee sales transaction, which is described in Note 14 to the financial statements. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, upon determining that Vermont Yankee was in held for sale status. Based on the terms of the sales agreement, which include Entergy receiving a note receivable from the purchaser, Entergy determined that $165 million of the asset retirement cost was impaired, and it was accordingly written down in the fourth quarter 2018. The Vermont Yankee plant was sold to NorthStar in January 2019. NRC Filings Regarding Trust Funding Levels Plant 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, 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, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. As nuclear plants individually approach and begin decommissioning, filings will be submitted to the NRC for planned shutdown activities. These filings with the NRC also determine whether financial assurance may be required in addition to the nuclear decommissioning trust fund. 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 Resource Conservation and Recovery Act (RCRA) Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the coal combustion residuals (CCR) rule in light of the WIIN Act. In March 2018 the EPA published its proposed revisions to the CCR rule with comments due at the end of April 2018. In July 2018 the EPA released its initial revisions extending certain deadlines and incorporating some risk-based standards. The EPA is expected to release additional revisions in another rulemaking. In August 2018 the D.C. Circuit vacated several provisions of the CCR rule on the basis that they were inconsistent with the Resource Conservation and Recovery Act and remanded the matter to the EPA to conduct further rulemaking. In August 2019 the EPA released its second set of proposed revisions to the CCR rule and plans at least three additional rulemakings. In 2018 revisions to the CCR asset retirement obligations were made as a result of revised closure and post-closure cost estimates. The revised estimates resulted in increases of $8.9 million at Entergy Arkansas, $0.5 million at Entergy Mississippi, and $0.1 million at Entergy Wholesale Commodities in decommissioning cost liabilities, along with corresponding increases in related asset retirement cost assets that will be depreciated over the remaining useful lives of the respective units. |
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 and asset retirement costs 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, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. 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 2019 , 2018 , and 2017 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the first quarter 2018, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in an $85.4 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 first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, 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 $147.5 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 useful life of the unit. Entergy Wholesale Commodities Palisades In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. Pilgrim Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant in anticipation of its May 2019 shutdown. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge. Vermont Yankee In the fourth quarter 2018, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee. The revised estimate resulted in a $293 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The revision was prompted by the progress of the Vermont Yankee sales transaction, which is described in Note 14 to the financial statements. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, upon determining that Vermont Yankee was in held for sale status. Based on the terms of the sales agreement, which include Entergy receiving a note receivable from the purchaser, Entergy determined that $165 million of the asset retirement cost was impaired, and it was accordingly written down in the fourth quarter 2018. The Vermont Yankee plant was sold to NorthStar in January 2019. NRC Filings Regarding Trust Funding Levels Plant 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, 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, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. As nuclear plants individually approach and begin decommissioning, filings will be submitted to the NRC for planned shutdown activities. These filings with the NRC also determine whether financial assurance may be required in addition to the nuclear decommissioning trust fund. 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 Resource Conservation and Recovery Act (RCRA) Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the coal combustion residuals (CCR) rule in light of the WIIN Act. In March 2018 the EPA published its proposed revisions to the CCR rule with comments due at the end of April 2018. In July 2018 the EPA released its initial revisions extending certain deadlines and incorporating some risk-based standards. The EPA is expected to release additional revisions in another rulemaking. In August 2018 the D.C. Circuit vacated several provisions of the CCR rule on the basis that they were inconsistent with the Resource Conservation and Recovery Act and remanded the matter to the EPA to conduct further rulemaking. In August 2019 the EPA released its second set of proposed revisions to the CCR rule and plans at least three additional rulemakings. In 2018 revisions to the CCR asset retirement obligations were made as a result of revised closure and post-closure cost estimates. The revised estimates resulted in increases of $8.9 million at Entergy Arkansas, $0.5 million at Entergy Mississippi, and $0.1 million at Entergy Wholesale Commodities in decommissioning cost liabilities, along with corresponding increases in related asset retirement cost assets that will be depreciated over the remaining useful lives of the respective units. |
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 and asset retirement costs 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, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. 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 2019 , 2018 , and 2017 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the first quarter 2018, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for River Bend as a result of a revised decommissioning cost study. The revised estimate resulted in an $85.4 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 first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, 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 $147.5 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 useful life of the unit. Entergy Wholesale Commodities Palisades In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. Pilgrim Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant in anticipation of its May 2019 shutdown. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge. Vermont Yankee In the fourth quarter 2018, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee. The revised estimate resulted in a $293 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The revision was prompted by the progress of the Vermont Yankee sales transaction, which is described in Note 14 to the financial statements. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, upon determining that Vermont Yankee was in held for sale status. Based on the terms of the sales agreement, which include Entergy receiving a note receivable from the purchaser, Entergy determined that $165 million of the asset retirement cost was impaired, and it was accordingly written down in the fourth quarter 2018. The Vermont Yankee plant was sold to NorthStar in January 2019. NRC Filings Regarding Trust Funding Levels Plant 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, 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, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. As nuclear plants individually approach and begin decommissioning, filings will be submitted to the NRC for planned shutdown activities. These filings with the NRC also determine whether financial assurance may be required in addition to the nuclear decommissioning trust fund. 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 Resource Conservation and Recovery Act (RCRA) Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the coal combustion residuals (CCR) rule in light of the WIIN Act. In March 2018 the EPA published its proposed revisions to the CCR rule with comments due at the end of April 2018. In July 2018 the EPA released its initial revisions extending certain deadlines and incorporating some risk-based standards. The EPA is expected to release additional revisions in another rulemaking. In August 2018 the D.C. Circuit vacated several provisions of the CCR rule on the basis that they were inconsistent with the Resource Conservation and Recovery Act and remanded the matter to the EPA to conduct further rulemaking. In August 2019 the EPA released its second set of proposed revisions to the CCR rule and plans at least three additional rulemakings. In 2018 revisions to the CCR asset retirement obligations were made as a result of revised closure and post-closure cost estimates. The revised estimates resulted in increases of $8.9 million at Entergy Arkansas, $0.5 million at Entergy Mississippi, and $0.1 million at Entergy Wholesale Commodities in decommissioning cost liabilities, along with corresponding increases in related asset retirement cost assets that will be depreciated over the remaining useful lives of the respective units. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. 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. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for as leases under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard in January 2019, Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of December 31, 2019, Entergy and the Registrant Subsidiaries held operating and finance leases for fleet vehicles used in operations, real estate, and aircraft. Excluded are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases under the accounting standards. Leases have remaining terms of one year to 60 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications that would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor. Due to the nature of the agreements and Entergy’s continuing relationship with the lessor, however, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the year ended December 31, 2019: (In Thousands) Operating lease cost $63,566 Finance lease cost: Amortization of right-of-use assets $16,048 Interest on lease liabilities $3,667 The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the finance lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the finance lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at December 31, 2019 are $234 million related to operating leases and $61 million related to finance leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of December 31, 2019: (In Thousands) Current liabilities: Operating leases $52,678 Finance leases $11,413 Non-current liabilities: Operating leases $181,339 Finance leases $53,396 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of Entergy at December 31, 2019: Weighted average remaining lease terms: Operating leases 5.14 Finance leases 6.69 Weighted average discount rate: Operating leases 3.86 % Finance leases 4.60 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % Maturity of the lease liabilities for Entergy as of December 31, 2019 are as follows: Year Operating Leases Finance Leases (In Thousands) 2020 $62,124 $14,014 2021 56,386 12,457 2022 47,919 11,253 2023 37,228 10,121 2024 30,376 8,454 Years thereafter 29,138 20,010 Minimum lease payments 263,171 76,309 Less: amount representing interest 29,153 11,500 Present value of net minimum lease payments $234,018 $64,809 Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K for the year ended December 31, 2018. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 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 $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 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 $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. Power Purchase Agreements As of December 31, 2018, 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) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and that matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Entergy Arkansas [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. 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. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for as leases under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard in January 2019, Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of December 31, 2019, Entergy and the Registrant Subsidiaries held operating and finance leases for fleet vehicles used in operations, real estate, and aircraft. Excluded are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases under the accounting standards. Leases have remaining terms of one year to 60 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications that would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor. Due to the nature of the agreements and Entergy’s continuing relationship with the lessor, however, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the year ended December 31, 2019: (In Thousands) Operating lease cost $63,566 Finance lease cost: Amortization of right-of-use assets $16,048 Interest on lease liabilities $3,667 The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the finance lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the finance lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at December 31, 2019 are $234 million related to operating leases and $61 million related to finance leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of December 31, 2019: (In Thousands) Current liabilities: Operating leases $52,678 Finance leases $11,413 Non-current liabilities: Operating leases $181,339 Finance leases $53,396 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of Entergy at December 31, 2019: Weighted average remaining lease terms: Operating leases 5.14 Finance leases 6.69 Weighted average discount rate: Operating leases 3.86 % Finance leases 4.60 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % Maturity of the lease liabilities for Entergy as of December 31, 2019 are as follows: Year Operating Leases Finance Leases (In Thousands) 2020 $62,124 $14,014 2021 56,386 12,457 2022 47,919 11,253 2023 37,228 10,121 2024 30,376 8,454 Years thereafter 29,138 20,010 Minimum lease payments 263,171 76,309 Less: amount representing interest 29,153 11,500 Present value of net minimum lease payments $234,018 $64,809 Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K for the year ended December 31, 2018. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 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 $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 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 $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. Power Purchase Agreements As of December 31, 2018, 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) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and that matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Entergy Louisiana [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. 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. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for as leases under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard in January 2019, Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of December 31, 2019, Entergy and the Registrant Subsidiaries held operating and finance leases for fleet vehicles used in operations, real estate, and aircraft. Excluded are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases under the accounting standards. Leases have remaining terms of one year to 60 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications that would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor. Due to the nature of the agreements and Entergy’s continuing relationship with the lessor, however, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the year ended December 31, 2019: (In Thousands) Operating lease cost $63,566 Finance lease cost: Amortization of right-of-use assets $16,048 Interest on lease liabilities $3,667 The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the finance lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the finance lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at December 31, 2019 are $234 million related to operating leases and $61 million related to finance leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of December 31, 2019: (In Thousands) Current liabilities: Operating leases $52,678 Finance leases $11,413 Non-current liabilities: Operating leases $181,339 Finance leases $53,396 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of Entergy at December 31, 2019: Weighted average remaining lease terms: Operating leases 5.14 Finance leases 6.69 Weighted average discount rate: Operating leases 3.86 % Finance leases 4.60 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % Maturity of the lease liabilities for Entergy as of December 31, 2019 are as follows: Year Operating Leases Finance Leases (In Thousands) 2020 $62,124 $14,014 2021 56,386 12,457 2022 47,919 11,253 2023 37,228 10,121 2024 30,376 8,454 Years thereafter 29,138 20,010 Minimum lease payments 263,171 76,309 Less: amount representing interest 29,153 11,500 Present value of net minimum lease payments $234,018 $64,809 Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K for the year ended December 31, 2018. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 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 $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 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 $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. Power Purchase Agreements As of December 31, 2018, 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) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and that matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Entergy Mississippi [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. 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. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for as leases under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard in January 2019, Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of December 31, 2019, Entergy and the Registrant Subsidiaries held operating and finance leases for fleet vehicles used in operations, real estate, and aircraft. Excluded are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases under the accounting standards. Leases have remaining terms of one year to 60 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications that would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor. Due to the nature of the agreements and Entergy’s continuing relationship with the lessor, however, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the year ended December 31, 2019: (In Thousands) Operating lease cost $63,566 Finance lease cost: Amortization of right-of-use assets $16,048 Interest on lease liabilities $3,667 The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the finance lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the finance lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at December 31, 2019 are $234 million related to operating leases and $61 million related to finance leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of December 31, 2019: (In Thousands) Current liabilities: Operating leases $52,678 Finance leases $11,413 Non-current liabilities: Operating leases $181,339 Finance leases $53,396 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of Entergy at December 31, 2019: Weighted average remaining lease terms: Operating leases 5.14 Finance leases 6.69 Weighted average discount rate: Operating leases 3.86 % Finance leases 4.60 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % Maturity of the lease liabilities for Entergy as of December 31, 2019 are as follows: Year Operating Leases Finance Leases (In Thousands) 2020 $62,124 $14,014 2021 56,386 12,457 2022 47,919 11,253 2023 37,228 10,121 2024 30,376 8,454 Years thereafter 29,138 20,010 Minimum lease payments 263,171 76,309 Less: amount representing interest 29,153 11,500 Present value of net minimum lease payments $234,018 $64,809 Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K for the year ended December 31, 2018. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 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 $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 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 $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. Power Purchase Agreements As of December 31, 2018, 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) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and that matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Entergy New Orleans [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. 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. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for as leases under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard in January 2019, Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of December 31, 2019, Entergy and the Registrant Subsidiaries held operating and finance leases for fleet vehicles used in operations, real estate, and aircraft. Excluded are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases under the accounting standards. Leases have remaining terms of one year to 60 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications that would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor. Due to the nature of the agreements and Entergy’s continuing relationship with the lessor, however, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the year ended December 31, 2019: (In Thousands) Operating lease cost $63,566 Finance lease cost: Amortization of right-of-use assets $16,048 Interest on lease liabilities $3,667 The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the finance lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the finance lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at December 31, 2019 are $234 million related to operating leases and $61 million related to finance leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of December 31, 2019: (In Thousands) Current liabilities: Operating leases $52,678 Finance leases $11,413 Non-current liabilities: Operating leases $181,339 Finance leases $53,396 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of Entergy at December 31, 2019: Weighted average remaining lease terms: Operating leases 5.14 Finance leases 6.69 Weighted average discount rate: Operating leases 3.86 % Finance leases 4.60 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % Maturity of the lease liabilities for Entergy as of December 31, 2019 are as follows: Year Operating Leases Finance Leases (In Thousands) 2020 $62,124 $14,014 2021 56,386 12,457 2022 47,919 11,253 2023 37,228 10,121 2024 30,376 8,454 Years thereafter 29,138 20,010 Minimum lease payments 263,171 76,309 Less: amount representing interest 29,153 11,500 Present value of net minimum lease payments $234,018 $64,809 Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K for the year ended December 31, 2018. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 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 $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 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 $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. Power Purchase Agreements As of December 31, 2018, 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) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and that matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Entergy Texas [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. 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. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for as leases under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard in January 2019, Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of December 31, 2019, Entergy and the Registrant Subsidiaries held operating and finance leases for fleet vehicles used in operations, real estate, and aircraft. Excluded are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases under the accounting standards. Leases have remaining terms of one year to 60 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications that would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor. Due to the nature of the agreements and Entergy’s continuing relationship with the lessor, however, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the year ended December 31, 2019: (In Thousands) Operating lease cost $63,566 Finance lease cost: Amortization of right-of-use assets $16,048 Interest on lease liabilities $3,667 The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the finance lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the finance lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at December 31, 2019 are $234 million related to operating leases and $61 million related to finance leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of December 31, 2019: (In Thousands) Current liabilities: Operating leases $52,678 Finance leases $11,413 Non-current liabilities: Operating leases $181,339 Finance leases $53,396 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of Entergy at December 31, 2019: Weighted average remaining lease terms: Operating leases 5.14 Finance leases 6.69 Weighted average discount rate: Operating leases 3.86 % Finance leases 4.60 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % Maturity of the lease liabilities for Entergy as of December 31, 2019 are as follows: Year Operating Leases Finance Leases (In Thousands) 2020 $62,124 $14,014 2021 56,386 12,457 2022 47,919 11,253 2023 37,228 10,121 2024 30,376 8,454 Years thereafter 29,138 20,010 Minimum lease payments 263,171 76,309 Less: amount representing interest 29,153 11,500 Present value of net minimum lease payments $234,018 $64,809 Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K for the year ended December 31, 2018. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 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 $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 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 $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. Power Purchase Agreements As of December 31, 2018, 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) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and that matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
System Energy [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. 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. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for as leases under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard in January 2019, Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of December 31, 2019, Entergy and the Registrant Subsidiaries held operating and finance leases for fleet vehicles used in operations, real estate, and aircraft. Excluded are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases under the accounting standards. Leases have remaining terms of one year to 60 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications that would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor. Due to the nature of the agreements and Entergy’s continuing relationship with the lessor, however, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the year ended December 31, 2019: (In Thousands) Operating lease cost $63,566 Finance lease cost: Amortization of right-of-use assets $16,048 Interest on lease liabilities $3,667 The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the finance lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the finance lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at December 31, 2019 are $234 million related to operating leases and $61 million related to finance leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of December 31, 2019: (In Thousands) Current liabilities: Operating leases $52,678 Finance leases $11,413 Non-current liabilities: Operating leases $181,339 Finance leases $53,396 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of Entergy at December 31, 2019: Weighted average remaining lease terms: Operating leases 5.14 Finance leases 6.69 Weighted average discount rate: Operating leases 3.86 % Finance leases 4.60 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % Maturity of the lease liabilities for Entergy as of December 31, 2019 are as follows: Year Operating Leases Finance Leases (In Thousands) 2020 $62,124 $14,014 2021 56,386 12,457 2022 47,919 11,253 2023 37,228 10,121 2024 30,376 8,454 Years thereafter 29,138 20,010 Minimum lease payments 263,171 76,309 Less: amount representing interest 29,153 11,500 Present value of net minimum lease payments $234,018 $64,809 Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K for the year ended December 31, 2018. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 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 $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 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 $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. Power Purchase Agreements As of December 31, 2018, 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) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and that matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Retirement, Other Postretiremen
Retirement, Other Postretirement Benefits, And Defined Contribution Plans | 12 Months Ended |
Dec. 31, 2019 | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit 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 2019 , 2018 , and 2017 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2019 2018 2017 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $134,193 $155,010 $133,641 Interest cost on projected benefit obligation 293,114 267,415 260,824 Expected return on assets (414,947 ) (442,142 ) (408,225 ) Amortization of prior service cost — 398 261 Recognized net loss 241,117 274,104 227,720 Settlement charges 23,492 828 — Net periodic pension costs $276,969 $255,613 $214,221 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $614,600 $394,951 $368,067 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — (398 ) (261 ) Amortization of net loss (241,117 ) (274,104 ) (227,720 ) Settlement charge (23,492 ) (828 ) — Total $349,991 $119,621 $140,086 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $626,960 $375,234 $354,307 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $— $— $398 Net loss $349,038 $233,677 $274,104 The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,404,917 $7,987,087 Service cost 134,193 155,010 Interest cost 293,114 267,415 Actuarial (gain)/loss 1,292,767 (395,242 ) Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Balance at December 31 $8,406,203 $7,404,917 Change in Plan Assets Fair value of assets at January 1 $5,497,415 $6,071,316 Actual return on plan assets 1,093,114 (348,051 ) Employer contributions 399,419 383,503 Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Fair value of assets at December 31 $6,271,160 $5,497,415 Funded status ($2,135,043 ) ($1,907,502 ) Amount recognized in the balance sheet Non-current liabilities ($2,135,043 ) ($1,907,502 ) Amount recognized as a regulatory asset Net loss $2,831,408 $2,468,987 Amount recognized as AOCI (before tax) Net loss $724,575 $737,004 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.8 billion and $6.9 billion at December 31, 2019 and 2018 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 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. 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 2019 , 2018 , and 2017 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2019 2018 2017 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $18,699 $27,129 $26,915 Interest cost on accumulated postretirement benefit obligation (APBO) 47,901 50,725 55,838 Expected return on assets (38,246 ) (41,493 ) (37,630 ) Amortization of prior service credit (35,377 ) (37,002 ) (41,425 ) Recognized net loss 1,430 13,729 21,905 Net other postretirement benefit (income)/cost ($5,593 ) $13,088 $25,603 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period $— $— ($2,564 ) Net gain (38,526 ) (274,354 ) (66,922 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 35,377 37,002 41,425 Amortization of net loss (1,430 ) (13,729 ) (21,905 ) Total ($4,579 ) ($251,081 ) ($49,966 ) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($10,172 ) ($237,993 ) ($24,363 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit (income)/cost in the following year Prior service credit ($17,563 ) ($35,377 ) ($37,002 ) Net loss $800 $1,430 $13,729 Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in APBO Balance at January 1 $1,232,619 $1,563,487 Service cost 18,699 27,129 Interest cost 47,901 50,725 Plan participant contributions 38,640 37,049 Actuarial (gain)/loss 23,673 (346,429 ) Benefits paid (109,223 ) (99,785 ) Medicare Part D subsidy received 594 443 Balance at December 31 $1,252,903 $1,232,619 Change in Plan Assets Fair value of assets at January 1 $609,782 $659,327 Actual return on plan assets 100,445 (30,582 ) Employer contributions 46,618 43,773 Plan participant contributions 38,640 37,049 Benefits paid (109,223 ) (99,785 ) Fair value of assets at December 31 $686,262 $609,782 Funded status ($566,641 ) ($622,837 ) Amounts recognized in the balance sheet Current liabilities ($48,040 ) ($44,276 ) Non-current liabilities (518,601 ) (578,561 ) Total funded status ($566,641 ) ($622,837 ) Amounts recognized as a regulatory asset Prior service credit ($11,899 ) ($25,778 ) Net (gain)/loss (5,081 ) 51,774 ($16,980 ) $25,996 Amounts recognized as AOCI (before tax) Prior service credit ($21,231 ) ($42,730 ) Net gain (16,670 ) (33,569 ) ($37,901 ) ($76,299 ) 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— 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 $22.6 million in 2019 , $24.4 million in 2018 , and $37.6 million in 2017 . In 2019 , 2018 , and 2017 Entergy recognized $7.4 million , $7.7 million , and $20.3 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The projected benefit obligation was $147 million as of December 31, 2018 of which $17 million was a current liability and $130 million was a non-current liability. The accumulated benefit obligation was $143.4 million and $131.9 million as of December 31, 2019 and 2018 , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $58.8 million at December 31, 2019 and $51.9 million at December 31, 2018 ) and accumulated other comprehensive income before taxes ( $24.9 million at December 31, 2019 and $19.2 million at December 31, 2018 ). 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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (bef |
Entergy Arkansas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit 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 2019 , 2018 , and 2017 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2019 2018 2017 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $134,193 $155,010 $133,641 Interest cost on projected benefit obligation 293,114 267,415 260,824 Expected return on assets (414,947 ) (442,142 ) (408,225 ) Amortization of prior service cost — 398 261 Recognized net loss 241,117 274,104 227,720 Settlement charges 23,492 828 — Net periodic pension costs $276,969 $255,613 $214,221 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $614,600 $394,951 $368,067 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — (398 ) (261 ) Amortization of net loss (241,117 ) (274,104 ) (227,720 ) Settlement charge (23,492 ) (828 ) — Total $349,991 $119,621 $140,086 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $626,960 $375,234 $354,307 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $— $— $398 Net loss $349,038 $233,677 $274,104 The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,404,917 $7,987,087 Service cost 134,193 155,010 Interest cost 293,114 267,415 Actuarial (gain)/loss 1,292,767 (395,242 ) Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Balance at December 31 $8,406,203 $7,404,917 Change in Plan Assets Fair value of assets at January 1 $5,497,415 $6,071,316 Actual return on plan assets 1,093,114 (348,051 ) Employer contributions 399,419 383,503 Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Fair value of assets at December 31 $6,271,160 $5,497,415 Funded status ($2,135,043 ) ($1,907,502 ) Amount recognized in the balance sheet Non-current liabilities ($2,135,043 ) ($1,907,502 ) Amount recognized as a regulatory asset Net loss $2,831,408 $2,468,987 Amount recognized as AOCI (before tax) Net loss $724,575 $737,004 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.8 billion and $6.9 billion at December 31, 2019 and 2018 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 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. 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 2019 , 2018 , and 2017 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2019 2018 2017 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $18,699 $27,129 $26,915 Interest cost on accumulated postretirement benefit obligation (APBO) 47,901 50,725 55,838 Expected return on assets (38,246 ) (41,493 ) (37,630 ) Amortization of prior service credit (35,377 ) (37,002 ) (41,425 ) Recognized net loss 1,430 13,729 21,905 Net other postretirement benefit (income)/cost ($5,593 ) $13,088 $25,603 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period $— $— ($2,564 ) Net gain (38,526 ) (274,354 ) (66,922 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 35,377 37,002 41,425 Amortization of net loss (1,430 ) (13,729 ) (21,905 ) Total ($4,579 ) ($251,081 ) ($49,966 ) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($10,172 ) ($237,993 ) ($24,363 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit (income)/cost in the following year Prior service credit ($17,563 ) ($35,377 ) ($37,002 ) Net loss $800 $1,430 $13,729 Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in APBO Balance at January 1 $1,232,619 $1,563,487 Service cost 18,699 27,129 Interest cost 47,901 50,725 Plan participant contributions 38,640 37,049 Actuarial (gain)/loss 23,673 (346,429 ) Benefits paid (109,223 ) (99,785 ) Medicare Part D subsidy received 594 443 Balance at December 31 $1,252,903 $1,232,619 Change in Plan Assets Fair value of assets at January 1 $609,782 $659,327 Actual return on plan assets 100,445 (30,582 ) Employer contributions 46,618 43,773 Plan participant contributions 38,640 37,049 Benefits paid (109,223 ) (99,785 ) Fair value of assets at December 31 $686,262 $609,782 Funded status ($566,641 ) ($622,837 ) Amounts recognized in the balance sheet Current liabilities ($48,040 ) ($44,276 ) Non-current liabilities (518,601 ) (578,561 ) Total funded status ($566,641 ) ($622,837 ) Amounts recognized as a regulatory asset Prior service credit ($11,899 ) ($25,778 ) Net (gain)/loss (5,081 ) 51,774 ($16,980 ) $25,996 Amounts recognized as AOCI (before tax) Prior service credit ($21,231 ) ($42,730 ) Net gain (16,670 ) (33,569 ) ($37,901 ) ($76,299 ) 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— 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 $22.6 million in 2019 , $24.4 million in 2018 , and $37.6 million in 2017 . In 2019 , 2018 , and 2017 Entergy recognized $7.4 million , $7.7 million , and $20.3 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The projected benefit obligation was $147 million as of December 31, 2018 of which $17 million was a current liability and $130 million was a non-current liability. The accumulated benefit obligation was $143.4 million and $131.9 million as of December 31, 2019 and 2018 , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $58.8 million at December 31, 2019 and $51.9 million at December 31, 2018 ) and accumulated other comprehensive income before taxes ( $24.9 million at December 31, 2019 and $19.2 million at December 31, 2018 ). 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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (bef |
Entergy Louisiana [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit 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 2019 , 2018 , and 2017 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2019 2018 2017 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $134,193 $155,010 $133,641 Interest cost on projected benefit obligation 293,114 267,415 260,824 Expected return on assets (414,947 ) (442,142 ) (408,225 ) Amortization of prior service cost — 398 261 Recognized net loss 241,117 274,104 227,720 Settlement charges 23,492 828 — Net periodic pension costs $276,969 $255,613 $214,221 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $614,600 $394,951 $368,067 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — (398 ) (261 ) Amortization of net loss (241,117 ) (274,104 ) (227,720 ) Settlement charge (23,492 ) (828 ) — Total $349,991 $119,621 $140,086 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $626,960 $375,234 $354,307 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $— $— $398 Net loss $349,038 $233,677 $274,104 The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,404,917 $7,987,087 Service cost 134,193 155,010 Interest cost 293,114 267,415 Actuarial (gain)/loss 1,292,767 (395,242 ) Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Balance at December 31 $8,406,203 $7,404,917 Change in Plan Assets Fair value of assets at January 1 $5,497,415 $6,071,316 Actual return on plan assets 1,093,114 (348,051 ) Employer contributions 399,419 383,503 Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Fair value of assets at December 31 $6,271,160 $5,497,415 Funded status ($2,135,043 ) ($1,907,502 ) Amount recognized in the balance sheet Non-current liabilities ($2,135,043 ) ($1,907,502 ) Amount recognized as a regulatory asset Net loss $2,831,408 $2,468,987 Amount recognized as AOCI (before tax) Net loss $724,575 $737,004 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.8 billion and $6.9 billion at December 31, 2019 and 2018 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 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. 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 2019 , 2018 , and 2017 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2019 2018 2017 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $18,699 $27,129 $26,915 Interest cost on accumulated postretirement benefit obligation (APBO) 47,901 50,725 55,838 Expected return on assets (38,246 ) (41,493 ) (37,630 ) Amortization of prior service credit (35,377 ) (37,002 ) (41,425 ) Recognized net loss 1,430 13,729 21,905 Net other postretirement benefit (income)/cost ($5,593 ) $13,088 $25,603 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period $— $— ($2,564 ) Net gain (38,526 ) (274,354 ) (66,922 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 35,377 37,002 41,425 Amortization of net loss (1,430 ) (13,729 ) (21,905 ) Total ($4,579 ) ($251,081 ) ($49,966 ) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($10,172 ) ($237,993 ) ($24,363 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit (income)/cost in the following year Prior service credit ($17,563 ) ($35,377 ) ($37,002 ) Net loss $800 $1,430 $13,729 Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in APBO Balance at January 1 $1,232,619 $1,563,487 Service cost 18,699 27,129 Interest cost 47,901 50,725 Plan participant contributions 38,640 37,049 Actuarial (gain)/loss 23,673 (346,429 ) Benefits paid (109,223 ) (99,785 ) Medicare Part D subsidy received 594 443 Balance at December 31 $1,252,903 $1,232,619 Change in Plan Assets Fair value of assets at January 1 $609,782 $659,327 Actual return on plan assets 100,445 (30,582 ) Employer contributions 46,618 43,773 Plan participant contributions 38,640 37,049 Benefits paid (109,223 ) (99,785 ) Fair value of assets at December 31 $686,262 $609,782 Funded status ($566,641 ) ($622,837 ) Amounts recognized in the balance sheet Current liabilities ($48,040 ) ($44,276 ) Non-current liabilities (518,601 ) (578,561 ) Total funded status ($566,641 ) ($622,837 ) Amounts recognized as a regulatory asset Prior service credit ($11,899 ) ($25,778 ) Net (gain)/loss (5,081 ) 51,774 ($16,980 ) $25,996 Amounts recognized as AOCI (before tax) Prior service credit ($21,231 ) ($42,730 ) Net gain (16,670 ) (33,569 ) ($37,901 ) ($76,299 ) 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— 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 $22.6 million in 2019 , $24.4 million in 2018 , and $37.6 million in 2017 . In 2019 , 2018 , and 2017 Entergy recognized $7.4 million , $7.7 million , and $20.3 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The projected benefit obligation was $147 million as of December 31, 2018 of which $17 million was a current liability and $130 million was a non-current liability. The accumulated benefit obligation was $143.4 million and $131.9 million as of December 31, 2019 and 2018 , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $58.8 million at December 31, 2019 and $51.9 million at December 31, 2018 ) and accumulated other comprehensive income before taxes ( $24.9 million at December 31, 2019 and $19.2 million at December 31, 2018 ). 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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (bef |
Entergy Mississippi [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit 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 2019 , 2018 , and 2017 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2019 2018 2017 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $134,193 $155,010 $133,641 Interest cost on projected benefit obligation 293,114 267,415 260,824 Expected return on assets (414,947 ) (442,142 ) (408,225 ) Amortization of prior service cost — 398 261 Recognized net loss 241,117 274,104 227,720 Settlement charges 23,492 828 — Net periodic pension costs $276,969 $255,613 $214,221 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $614,600 $394,951 $368,067 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — (398 ) (261 ) Amortization of net loss (241,117 ) (274,104 ) (227,720 ) Settlement charge (23,492 ) (828 ) — Total $349,991 $119,621 $140,086 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $626,960 $375,234 $354,307 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $— $— $398 Net loss $349,038 $233,677 $274,104 The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,404,917 $7,987,087 Service cost 134,193 155,010 Interest cost 293,114 267,415 Actuarial (gain)/loss 1,292,767 (395,242 ) Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Balance at December 31 $8,406,203 $7,404,917 Change in Plan Assets Fair value of assets at January 1 $5,497,415 $6,071,316 Actual return on plan assets 1,093,114 (348,051 ) Employer contributions 399,419 383,503 Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Fair value of assets at December 31 $6,271,160 $5,497,415 Funded status ($2,135,043 ) ($1,907,502 ) Amount recognized in the balance sheet Non-current liabilities ($2,135,043 ) ($1,907,502 ) Amount recognized as a regulatory asset Net loss $2,831,408 $2,468,987 Amount recognized as AOCI (before tax) Net loss $724,575 $737,004 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.8 billion and $6.9 billion at December 31, 2019 and 2018 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 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. 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 2019 , 2018 , and 2017 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2019 2018 2017 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $18,699 $27,129 $26,915 Interest cost on accumulated postretirement benefit obligation (APBO) 47,901 50,725 55,838 Expected return on assets (38,246 ) (41,493 ) (37,630 ) Amortization of prior service credit (35,377 ) (37,002 ) (41,425 ) Recognized net loss 1,430 13,729 21,905 Net other postretirement benefit (income)/cost ($5,593 ) $13,088 $25,603 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period $— $— ($2,564 ) Net gain (38,526 ) (274,354 ) (66,922 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 35,377 37,002 41,425 Amortization of net loss (1,430 ) (13,729 ) (21,905 ) Total ($4,579 ) ($251,081 ) ($49,966 ) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($10,172 ) ($237,993 ) ($24,363 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit (income)/cost in the following year Prior service credit ($17,563 ) ($35,377 ) ($37,002 ) Net loss $800 $1,430 $13,729 Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in APBO Balance at January 1 $1,232,619 $1,563,487 Service cost 18,699 27,129 Interest cost 47,901 50,725 Plan participant contributions 38,640 37,049 Actuarial (gain)/loss 23,673 (346,429 ) Benefits paid (109,223 ) (99,785 ) Medicare Part D subsidy received 594 443 Balance at December 31 $1,252,903 $1,232,619 Change in Plan Assets Fair value of assets at January 1 $609,782 $659,327 Actual return on plan assets 100,445 (30,582 ) Employer contributions 46,618 43,773 Plan participant contributions 38,640 37,049 Benefits paid (109,223 ) (99,785 ) Fair value of assets at December 31 $686,262 $609,782 Funded status ($566,641 ) ($622,837 ) Amounts recognized in the balance sheet Current liabilities ($48,040 ) ($44,276 ) Non-current liabilities (518,601 ) (578,561 ) Total funded status ($566,641 ) ($622,837 ) Amounts recognized as a regulatory asset Prior service credit ($11,899 ) ($25,778 ) Net (gain)/loss (5,081 ) 51,774 ($16,980 ) $25,996 Amounts recognized as AOCI (before tax) Prior service credit ($21,231 ) ($42,730 ) Net gain (16,670 ) (33,569 ) ($37,901 ) ($76,299 ) 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— 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 $22.6 million in 2019 , $24.4 million in 2018 , and $37.6 million in 2017 . In 2019 , 2018 , and 2017 Entergy recognized $7.4 million , $7.7 million , and $20.3 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The projected benefit obligation was $147 million as of December 31, 2018 of which $17 million was a current liability and $130 million was a non-current liability. The accumulated benefit obligation was $143.4 million and $131.9 million as of December 31, 2019 and 2018 , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $58.8 million at December 31, 2019 and $51.9 million at December 31, 2018 ) and accumulated other comprehensive income before taxes ( $24.9 million at December 31, 2019 and $19.2 million at December 31, 2018 ). 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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (bef |
Entergy New Orleans [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit 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 2019 , 2018 , and 2017 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2019 2018 2017 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $134,193 $155,010 $133,641 Interest cost on projected benefit obligation 293,114 267,415 260,824 Expected return on assets (414,947 ) (442,142 ) (408,225 ) Amortization of prior service cost — 398 261 Recognized net loss 241,117 274,104 227,720 Settlement charges 23,492 828 — Net periodic pension costs $276,969 $255,613 $214,221 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $614,600 $394,951 $368,067 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — (398 ) (261 ) Amortization of net loss (241,117 ) (274,104 ) (227,720 ) Settlement charge (23,492 ) (828 ) — Total $349,991 $119,621 $140,086 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $626,960 $375,234 $354,307 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $— $— $398 Net loss $349,038 $233,677 $274,104 The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,404,917 $7,987,087 Service cost 134,193 155,010 Interest cost 293,114 267,415 Actuarial (gain)/loss 1,292,767 (395,242 ) Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Balance at December 31 $8,406,203 $7,404,917 Change in Plan Assets Fair value of assets at January 1 $5,497,415 $6,071,316 Actual return on plan assets 1,093,114 (348,051 ) Employer contributions 399,419 383,503 Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Fair value of assets at December 31 $6,271,160 $5,497,415 Funded status ($2,135,043 ) ($1,907,502 ) Amount recognized in the balance sheet Non-current liabilities ($2,135,043 ) ($1,907,502 ) Amount recognized as a regulatory asset Net loss $2,831,408 $2,468,987 Amount recognized as AOCI (before tax) Net loss $724,575 $737,004 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.8 billion and $6.9 billion at December 31, 2019 and 2018 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 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. 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 2019 , 2018 , and 2017 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2019 2018 2017 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $18,699 $27,129 $26,915 Interest cost on accumulated postretirement benefit obligation (APBO) 47,901 50,725 55,838 Expected return on assets (38,246 ) (41,493 ) (37,630 ) Amortization of prior service credit (35,377 ) (37,002 ) (41,425 ) Recognized net loss 1,430 13,729 21,905 Net other postretirement benefit (income)/cost ($5,593 ) $13,088 $25,603 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period $— $— ($2,564 ) Net gain (38,526 ) (274,354 ) (66,922 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 35,377 37,002 41,425 Amortization of net loss (1,430 ) (13,729 ) (21,905 ) Total ($4,579 ) ($251,081 ) ($49,966 ) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($10,172 ) ($237,993 ) ($24,363 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit (income)/cost in the following year Prior service credit ($17,563 ) ($35,377 ) ($37,002 ) Net loss $800 $1,430 $13,729 Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in APBO Balance at January 1 $1,232,619 $1,563,487 Service cost 18,699 27,129 Interest cost 47,901 50,725 Plan participant contributions 38,640 37,049 Actuarial (gain)/loss 23,673 (346,429 ) Benefits paid (109,223 ) (99,785 ) Medicare Part D subsidy received 594 443 Balance at December 31 $1,252,903 $1,232,619 Change in Plan Assets Fair value of assets at January 1 $609,782 $659,327 Actual return on plan assets 100,445 (30,582 ) Employer contributions 46,618 43,773 Plan participant contributions 38,640 37,049 Benefits paid (109,223 ) (99,785 ) Fair value of assets at December 31 $686,262 $609,782 Funded status ($566,641 ) ($622,837 ) Amounts recognized in the balance sheet Current liabilities ($48,040 ) ($44,276 ) Non-current liabilities (518,601 ) (578,561 ) Total funded status ($566,641 ) ($622,837 ) Amounts recognized as a regulatory asset Prior service credit ($11,899 ) ($25,778 ) Net (gain)/loss (5,081 ) 51,774 ($16,980 ) $25,996 Amounts recognized as AOCI (before tax) Prior service credit ($21,231 ) ($42,730 ) Net gain (16,670 ) (33,569 ) ($37,901 ) ($76,299 ) 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— 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 $22.6 million in 2019 , $24.4 million in 2018 , and $37.6 million in 2017 . In 2019 , 2018 , and 2017 Entergy recognized $7.4 million , $7.7 million , and $20.3 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The projected benefit obligation was $147 million as of December 31, 2018 of which $17 million was a current liability and $130 million was a non-current liability. The accumulated benefit obligation was $143.4 million and $131.9 million as of December 31, 2019 and 2018 , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $58.8 million at December 31, 2019 and $51.9 million at December 31, 2018 ) and accumulated other comprehensive income before taxes ( $24.9 million at December 31, 2019 and $19.2 million at December 31, 2018 ). 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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (bef |
Entergy Texas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit 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 2019 , 2018 , and 2017 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2019 2018 2017 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $134,193 $155,010 $133,641 Interest cost on projected benefit obligation 293,114 267,415 260,824 Expected return on assets (414,947 ) (442,142 ) (408,225 ) Amortization of prior service cost — 398 261 Recognized net loss 241,117 274,104 227,720 Settlement charges 23,492 828 — Net periodic pension costs $276,969 $255,613 $214,221 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $614,600 $394,951 $368,067 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — (398 ) (261 ) Amortization of net loss (241,117 ) (274,104 ) (227,720 ) Settlement charge (23,492 ) (828 ) — Total $349,991 $119,621 $140,086 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $626,960 $375,234 $354,307 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $— $— $398 Net loss $349,038 $233,677 $274,104 The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,404,917 $7,987,087 Service cost 134,193 155,010 Interest cost 293,114 267,415 Actuarial (gain)/loss 1,292,767 (395,242 ) Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Balance at December 31 $8,406,203 $7,404,917 Change in Plan Assets Fair value of assets at January 1 $5,497,415 $6,071,316 Actual return on plan assets 1,093,114 (348,051 ) Employer contributions 399,419 383,503 Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Fair value of assets at December 31 $6,271,160 $5,497,415 Funded status ($2,135,043 ) ($1,907,502 ) Amount recognized in the balance sheet Non-current liabilities ($2,135,043 ) ($1,907,502 ) Amount recognized as a regulatory asset Net loss $2,831,408 $2,468,987 Amount recognized as AOCI (before tax) Net loss $724,575 $737,004 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.8 billion and $6.9 billion at December 31, 2019 and 2018 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 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. 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 2019 , 2018 , and 2017 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2019 2018 2017 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $18,699 $27,129 $26,915 Interest cost on accumulated postretirement benefit obligation (APBO) 47,901 50,725 55,838 Expected return on assets (38,246 ) (41,493 ) (37,630 ) Amortization of prior service credit (35,377 ) (37,002 ) (41,425 ) Recognized net loss 1,430 13,729 21,905 Net other postretirement benefit (income)/cost ($5,593 ) $13,088 $25,603 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period $— $— ($2,564 ) Net gain (38,526 ) (274,354 ) (66,922 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 35,377 37,002 41,425 Amortization of net loss (1,430 ) (13,729 ) (21,905 ) Total ($4,579 ) ($251,081 ) ($49,966 ) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($10,172 ) ($237,993 ) ($24,363 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit (income)/cost in the following year Prior service credit ($17,563 ) ($35,377 ) ($37,002 ) Net loss $800 $1,430 $13,729 Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in APBO Balance at January 1 $1,232,619 $1,563,487 Service cost 18,699 27,129 Interest cost 47,901 50,725 Plan participant contributions 38,640 37,049 Actuarial (gain)/loss 23,673 (346,429 ) Benefits paid (109,223 ) (99,785 ) Medicare Part D subsidy received 594 443 Balance at December 31 $1,252,903 $1,232,619 Change in Plan Assets Fair value of assets at January 1 $609,782 $659,327 Actual return on plan assets 100,445 (30,582 ) Employer contributions 46,618 43,773 Plan participant contributions 38,640 37,049 Benefits paid (109,223 ) (99,785 ) Fair value of assets at December 31 $686,262 $609,782 Funded status ($566,641 ) ($622,837 ) Amounts recognized in the balance sheet Current liabilities ($48,040 ) ($44,276 ) Non-current liabilities (518,601 ) (578,561 ) Total funded status ($566,641 ) ($622,837 ) Amounts recognized as a regulatory asset Prior service credit ($11,899 ) ($25,778 ) Net (gain)/loss (5,081 ) 51,774 ($16,980 ) $25,996 Amounts recognized as AOCI (before tax) Prior service credit ($21,231 ) ($42,730 ) Net gain (16,670 ) (33,569 ) ($37,901 ) ($76,299 ) 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— 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 $22.6 million in 2019 , $24.4 million in 2018 , and $37.6 million in 2017 . In 2019 , 2018 , and 2017 Entergy recognized $7.4 million , $7.7 million , and $20.3 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The projected benefit obligation was $147 million as of December 31, 2018 of which $17 million was a current liability and $130 million was a non-current liability. The accumulated benefit obligation was $143.4 million and $131.9 million as of December 31, 2019 and 2018 , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $58.8 million at December 31, 2019 and $51.9 million at December 31, 2018 ) and accumulated other comprehensive income before taxes ( $24.9 million at December 31, 2019 and $19.2 million at December 31, 2018 ). 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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (bef |
System Energy [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight defined benefit qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay defined benefit 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 2019 , 2018 , and 2017 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2019 2018 2017 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $134,193 $155,010 $133,641 Interest cost on projected benefit obligation 293,114 267,415 260,824 Expected return on assets (414,947 ) (442,142 ) (408,225 ) Amortization of prior service cost — 398 261 Recognized net loss 241,117 274,104 227,720 Settlement charges 23,492 828 — Net periodic pension costs $276,969 $255,613 $214,221 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $614,600 $394,951 $368,067 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — (398 ) (261 ) Amortization of net loss (241,117 ) (274,104 ) (227,720 ) Settlement charge (23,492 ) (828 ) — Total $349,991 $119,621 $140,086 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $626,960 $375,234 $354,307 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $— $— $398 Net loss $349,038 $233,677 $274,104 The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,404,917 $7,987,087 Service cost 134,193 155,010 Interest cost 293,114 267,415 Actuarial (gain)/loss 1,292,767 (395,242 ) Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Balance at December 31 $8,406,203 $7,404,917 Change in Plan Assets Fair value of assets at January 1 $5,497,415 $6,071,316 Actual return on plan assets 1,093,114 (348,051 ) Employer contributions 399,419 383,503 Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Fair value of assets at December 31 $6,271,160 $5,497,415 Funded status ($2,135,043 ) ($1,907,502 ) Amount recognized in the balance sheet Non-current liabilities ($2,135,043 ) ($1,907,502 ) Amount recognized as a regulatory asset Net loss $2,831,408 $2,468,987 Amount recognized as AOCI (before tax) Net loss $724,575 $737,004 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.8 billion and $6.9 billion at December 31, 2019 and 2018 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 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. 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 2019 , 2018 , and 2017 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2019 2018 2017 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $18,699 $27,129 $26,915 Interest cost on accumulated postretirement benefit obligation (APBO) 47,901 50,725 55,838 Expected return on assets (38,246 ) (41,493 ) (37,630 ) Amortization of prior service credit (35,377 ) (37,002 ) (41,425 ) Recognized net loss 1,430 13,729 21,905 Net other postretirement benefit (income)/cost ($5,593 ) $13,088 $25,603 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period $— $— ($2,564 ) Net gain (38,526 ) (274,354 ) (66,922 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 35,377 37,002 41,425 Amortization of net loss (1,430 ) (13,729 ) (21,905 ) Total ($4,579 ) ($251,081 ) ($49,966 ) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($10,172 ) ($237,993 ) ($24,363 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit (income)/cost in the following year Prior service credit ($17,563 ) ($35,377 ) ($37,002 ) Net loss $800 $1,430 $13,729 Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in APBO Balance at January 1 $1,232,619 $1,563,487 Service cost 18,699 27,129 Interest cost 47,901 50,725 Plan participant contributions 38,640 37,049 Actuarial (gain)/loss 23,673 (346,429 ) Benefits paid (109,223 ) (99,785 ) Medicare Part D subsidy received 594 443 Balance at December 31 $1,252,903 $1,232,619 Change in Plan Assets Fair value of assets at January 1 $609,782 $659,327 Actual return on plan assets 100,445 (30,582 ) Employer contributions 46,618 43,773 Plan participant contributions 38,640 37,049 Benefits paid (109,223 ) (99,785 ) Fair value of assets at December 31 $686,262 $609,782 Funded status ($566,641 ) ($622,837 ) Amounts recognized in the balance sheet Current liabilities ($48,040 ) ($44,276 ) Non-current liabilities (518,601 ) (578,561 ) Total funded status ($566,641 ) ($622,837 ) Amounts recognized as a regulatory asset Prior service credit ($11,899 ) ($25,778 ) Net (gain)/loss (5,081 ) 51,774 ($16,980 ) $25,996 Amounts recognized as AOCI (before tax) Prior service credit ($21,231 ) ($42,730 ) Net gain (16,670 ) (33,569 ) ($37,901 ) ($76,299 ) 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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— 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 $22.6 million in 2019 , $24.4 million in 2018 , and $37.6 million in 2017 . In 2019 , 2018 , and 2017 Entergy recognized $7.4 million , $7.7 million , and $20.3 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.8 million as of December 31, 2019 of which $18.1 million was a current liability and $144.6 million was a non-current liability. The projected benefit obligation was $147 million as of December 31, 2018 of which $17 million was a current liability and $130 million was a non-current liability. The accumulated benefit obligation was $143.4 million and $131.9 million as of December 31, 2019 and 2018 , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $58.8 million at December 31, 2019 and $51.9 million at December 31, 2018 ) and accumulated other comprehensive income before taxes ( $24.9 million at December 31, 2019 and $19.2 million at December 31, 2018 ). 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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 Included in the 2019 net periodic pension cost above are settlement charges of $40 thousand for Entergy Mississippi related to the lump sum benefits paid out of the plan. Included in the 2018 net periodic pension cost above are settlement charges of $30 thousand and $139 thousand for Entergy Arkansas and Entergy Texas, respectively, related to the lump sum benefits paid out of the plan. Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (bef |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Compensation [Abstract] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION (Entergy Corporation) Entergy grants stock options, restricted stock, performance units, and restricted stock units to key employees of the Entergy subsidiaries under its Equity Ownership Plans which are shareholder-approved stock-based compensation plans. Effective May 3, 2019, Entergy’s shareholders approved the 2019 Omnibus Incentive Plan (2019 Plan). The maximum number of common shares that can be issued from the 2019 Plan for stock-based awards is 7,300,000 all of which are available for incentive stock option grants. The 2019 Plan applies to awards granted on or after May 3, 2019 and awards expire ten years from the date of grant. As of December 31, 2019 , there were 7,266,822 authorized shares remaining for stock-based awards. 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: 2019 2018 2017 (In Millions) Compensation expense included in Entergy’s consolidated net income $3.8 $4.3 $4.4 Tax benefit recognized in Entergy’s consolidated net income $1.0 $1.1 $1.7 Compensation cost capitalized as part of fixed assets and inventory $1.4 $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: 2019 2018 2017 Stock price volatility 17.23% 17.44% 18.39% Expected term in years 7.32 7.33 7.35 Risk-free interest rate 2.50% 2.54% 2.31% Dividend yield 4.50% 4.75% 4.75% Dividend payment per share $3.66 $3.58 $3.50 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, 2019 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, 2019 2,993,333 $75.14 Options granted 693,161 $89.19 Options exercised (1,227,047 ) $76.35 Options forfeited/expired (10,534 ) $81.68 Options outstanding as of December 31, 2019 2,448,913 $78.48 $101,178,880 7.03 years Options exercisable as of December 31, 2019 1,160,665 $73.97 $53,192,483 5.47 years Weighted-average grant-date fair value of options granted during 2019 $8.32 The weighted-average grant-date fair value of options granted during the year was $6.99 for 2018 and $6.54 for 2017 . The total intrinsic value of stock options exercised was $29 million during 2019 , $19 million during 2018 , and $11 million during 2017 . 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, 2019 . The aggregate intrinsic value of the stock options outstanding as of December 31, 2019 was $101 million . The intrinsic value of “in the money” stock options is $101 million as of December 31, 2019 . 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 2019 , $4 million during 2018 , and $6 million during 2017 . Cash received from option exercises was $93 million for the year ended December 31, 2019 . The tax benefits realized from options exercised was $7 million for the year ended December 31, 2019 . The following table summarizes information about stock options outstanding as of December 31, 2019 : Options Outstanding Options Exercisable Range of Exercise Price As of December 31, 2019 Weighted-Average Remaining Contractual Life-Yrs. Weighted Average Exercise Price Number Exercisable as of December 31, 2019 Weighted Average Exercise Price $51 - $64.99 244,200 3.72 $63.69 244,200 $63.69 $65 - $78.99 1,323,452 6.89 $73.97 694,093 $72.50 $79 - $91.99 881,261 8.15 $89.36 222,372 $89.85 $51 - $89.90 2,448,913 7.03 $78.48 1,160,665 $73.97 Stock-based compensation cost related to non-vested stock options outstanding as of December 31, 2019 not yet recognized is approximately $6 million and is expected to be recognized over a weighted-average period of 1.74 years. Restricted Stock Awards Entergy grants restricted stock awards earned under its stock benefit plans in the form of stock units. One-third of the restricted stock awards will vest upon each anniversary of the grant date and are expensed ratably over the three-year vesting period. Shares of restricted stock have the same dividend and voting rights as other common stock and are considered issued and outstanding shares of Entergy upon vesting. In January 2019 the Board approved and Entergy granted 355,537 restricted stock awards under the 2015 Equity Ownership Plan. The restricted stock awards were made effective as of January 31, 2019 and were valued at $89.19 per share, which was the closing price of Entergy Corporation’s common stock on that date. The following table includes information about the restricted stock awards outstanding as of December 31, 2019 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2019 693,527 $74.17 Granted 379,690 $88.75 Vested (346,842 ) $72.96 Forfeited (34,241 ) $78.66 Outstanding shares at December 31, 2019 692,134 $82.56 The following table includes financial information for restricted stock for each of the years presented: 2019 2018 2017 (In Millions) Compensation expense included in Entergy’s consolidated net income $20.2 $19.8 $19.7 Tax benefit recognized in Entergy’s consolidated net income $5.1 $5.1 $7.6 Compensation cost capitalized as part of fixed assets and inventory $7.1 $5.7 $5.2 The total fair value of the restricted stock awards granted was $34 million , $28 million , and $29 million for the years ended December 31, 2019 , 2018 , and 2017 . The total fair value of the restricted stock awards vested was $25 million , $25 million , and $24 million for the years ended December 31, 2019 , 2018 , and 2017 , 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, and are settled with, one share of Entergy Corporation common stock at the end of the three-year performance period, plus dividends accrued during the performance period on the number of performance units earned. The 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. For the 2019-2020 performance period, performance will be measured based eighty percent on relative total shareholder return and twenty percent on a cumulative adjusted earnings per share metric. In January 2019 the Board approved and Entergy granted 180,824 performance units under the 2015 Equity Ownership and Long-Term Cash Incentive Plan. The performance units were granted as of January 31, 2019, and eighty percent were valued at $102.07 per share based on various factors, primarily market conditions; and twenty percent were valued at $89.19 per share, the closing price of Entergy Corporation’s common stock on that date. 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, and compensation cost for the portion of the award based on cumulative adjusted earnings per share will be adjusted based on the number of units that ultimately vest. The following table includes information about the long-term performance units outstanding at the target level as of December 31, 2019 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2019 566,626 $79.21 Granted 241,406 $96.18 Vested (226,252 ) $84.52 Forfeited (29,847 ) $87.43 Outstanding shares at December 31, 2019 551,933 $84.01 The following table includes financial information for the long-term performance units for each of the years presented: 2019 2018 2017 (In Millions) Compensation expense included in Entergy’s consolidated net income $11.1 $11.5 $10.8 Tax benefit recognized in Entergy’s consolidated net income $2.8 $2.9 $4.2 Compensation cost capitalized as part of fixed assets and inventory $4.0 $3.3 $3.0 The total fair value of the long-term performance units granted was $23 million , $16 million , and $19 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. In January 2019, Entergy issued 226,208 shares of Entergy Corporation common stock at a share price of $86.03 for awards earned and dividends accrued under the 2016-2018 Long-Term Performance Unit Program. In January 2018, Entergy issued 50,812 shares of Entergy Corporation common stock at a share price of $78.51 for awards earned and dividends accrued under the 2015-2017 Long-Term Performance Unit Program. In January 2017, Entergy issued 86,964 shares of Entergy Corporation common stock at a share price of $71.89 for awards earned and dividends accrued under the 2014-2016 Long-Term Performance Unit Program. 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 35 months . As of December 31, 2019 , there were 130,463 unvested restricted stock units that are expected to vest over an average period of 19 months . The following table includes information about the restricted stock unit awards outstanding as of December 31, 2019 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2019 186,763 $76.43 Granted 26,700 $109.10 Vested (83,000 ) $77.05 Outstanding shares at December 31, 2019 130,463 $82.72 The following table includes financial information for restricted stock unit awards for each of the years presented: 2019 2018 2017 (In Millions) Compensation expense included in Entergy’s consolidated net income $2.2 $2.9 $2.5 Tax benefit recognized in Entergy’s consolidated net income $0.6 $0.7 $1.0 Compensation cost capitalized as part of fixed assets and inventory $0.9 $0.7 $0.6 The total fair value of the restricted stock unit awards granted was $3 million , $2 million , and $3 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. The total fair value of the restricted stock unit awards vested was $6 million , $3 million , and $0.4 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. |
Business Segment Information
Business Segment Information | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 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: 2019 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,583,985 $1,294,719 $21 ($52 ) $10,878,673 Asset write-offs, impairments, and related charges $— $290,027 $— $— $290,027 Depreciation, amortization, & decommissioning $1,493,167 $384,707 $2,944 $— $1,880,818 Interest and investment income $289,570 $414,636 $26,295 ($182,589 ) $547,912 Interest expense $589,395 $29,450 $178,575 ($54,995 ) $742,425 Income taxes $19,634 ($161,295 ) ($28,164 ) $— ($169,825 ) Consolidated net income (loss) $1,425,643 $148,870 ($188,675 ) ($127,594 ) $1,258,244 Total assets $49,557,664 $4,154,961 $514,020 ($2,502,733 ) $51,723,912 Cash paid for long-lived asset additions $4,527,045 $104,300 $160 $— $4,631,505 2018 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,540,670 $1,468,905 $— ($123 ) $11,009,452 Asset write-offs, impairments, and related charges $— $532,321 $— $— $532,321 Depreciation, amortization, & decommissioning $1,367,944 $388,732 $1,274 $— $1,757,950 Interest and investment income $203,936 $14,543 $31,602 ($186,217 ) $63,864 Interest expense $552,919 $33,694 $179,358 ($58,623 ) $707,348 Income taxes ($732,548 ) ($269,025 ) ($35,253 ) $— ($1,036,826 ) Consolidated net income (loss) $1,495,061 ($340,641 ) ($164,271 ) ($127,594 ) $862,555 Total assets $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 Cash paid for long-lived asset additions $3,987,424 $283,707 $86 $— $4,271,217 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 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. In March 2017, Entergy sold the FitzPatrick plant, which it had intended to shut down, to Exelon. In January 2019, Entergy sold the Vermont Yankee plant, which it had previously shut down, to NorthStar. In August 2019, Entergy sold the Pilgrim plant, which it had previously shut down, to Holtec. Entergy has also announced plans to shut down Indian Point 2 in 2020, Indian Point 3 in 2021, and Palisades in 2022, and has purchase and sale agreements with Holtec for each of them expected to close after they are shut down. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants pending their sales to third parties. The decisions to shut down these plants and the related 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 2019, 2018, and 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of December 31, 2016 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Restructuring costs accrued 139 — 139 Cash paid out 43 — 43 Balance as of December 31, 2018 $179 $14 $193 Restructuring costs accrued 91 — 91 Cash paid out 141 — 141 Balance as of December 31, 2019 $129 $14 $143 In addition, Entergy Wholesale Commodities incurred $290 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment, loss on sales, and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $75 million in 2020 and a total of approximately $55 million from 2021 through 2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2019 , 2018 , and 2017 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2019 and 2018 , 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, 2019 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: 2019 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,583,985 $1,294,719 $21 ($52 ) $10,878,673 Asset write-offs, impairments, and related charges $— $290,027 $— $— $290,027 Depreciation, amortization, & decommissioning $1,493,167 $384,707 $2,944 $— $1,880,818 Interest and investment income $289,570 $414,636 $26,295 ($182,589 ) $547,912 Interest expense $589,395 $29,450 $178,575 ($54,995 ) $742,425 Income taxes $19,634 ($161,295 ) ($28,164 ) $— ($169,825 ) Consolidated net income (loss) $1,425,643 $148,870 ($188,675 ) ($127,594 ) $1,258,244 Total assets $49,557,664 $4,154,961 $514,020 ($2,502,733 ) $51,723,912 Cash paid for long-lived asset additions $4,527,045 $104,300 $160 $— $4,631,505 2018 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,540,670 $1,468,905 $— ($123 ) $11,009,452 Asset write-offs, impairments, and related charges $— $532,321 $— $— $532,321 Depreciation, amortization, & decommissioning $1,367,944 $388,732 $1,274 $— $1,757,950 Interest and investment income $203,936 $14,543 $31,602 ($186,217 ) $63,864 Interest expense $552,919 $33,694 $179,358 ($58,623 ) $707,348 Income taxes ($732,548 ) ($269,025 ) ($35,253 ) $— ($1,036,826 ) Consolidated net income (loss) $1,495,061 ($340,641 ) ($164,271 ) ($127,594 ) $862,555 Total assets $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 Cash paid for long-lived asset additions $3,987,424 $283,707 $86 $— $4,271,217 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 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. In March 2017, Entergy sold the FitzPatrick plant, which it had intended to shut down, to Exelon. In January 2019, Entergy sold the Vermont Yankee plant, which it had previously shut down, to NorthStar. In August 2019, Entergy sold the Pilgrim plant, which it had previously shut down, to Holtec. Entergy has also announced plans to shut down Indian Point 2 in 2020, Indian Point 3 in 2021, and Palisades in 2022, and has purchase and sale agreements with Holtec for each of them expected to close after they are shut down. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants pending their sales to third parties. The decisions to shut down these plants and the related 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 2019, 2018, and 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of December 31, 2016 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Restructuring costs accrued 139 — 139 Cash paid out 43 — 43 Balance as of December 31, 2018 $179 $14 $193 Restructuring costs accrued 91 — 91 Cash paid out 141 — 141 Balance as of December 31, 2019 $129 $14 $143 In addition, Entergy Wholesale Commodities incurred $290 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment, loss on sales, and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $75 million in 2020 and a total of approximately $55 million from 2021 through 2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2019 , 2018 , and 2017 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2019 and 2018 , 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, 2019 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: 2019 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,583,985 $1,294,719 $21 ($52 ) $10,878,673 Asset write-offs, impairments, and related charges $— $290,027 $— $— $290,027 Depreciation, amortization, & decommissioning $1,493,167 $384,707 $2,944 $— $1,880,818 Interest and investment income $289,570 $414,636 $26,295 ($182,589 ) $547,912 Interest expense $589,395 $29,450 $178,575 ($54,995 ) $742,425 Income taxes $19,634 ($161,295 ) ($28,164 ) $— ($169,825 ) Consolidated net income (loss) $1,425,643 $148,870 ($188,675 ) ($127,594 ) $1,258,244 Total assets $49,557,664 $4,154,961 $514,020 ($2,502,733 ) $51,723,912 Cash paid for long-lived asset additions $4,527,045 $104,300 $160 $— $4,631,505 2018 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,540,670 $1,468,905 $— ($123 ) $11,009,452 Asset write-offs, impairments, and related charges $— $532,321 $— $— $532,321 Depreciation, amortization, & decommissioning $1,367,944 $388,732 $1,274 $— $1,757,950 Interest and investment income $203,936 $14,543 $31,602 ($186,217 ) $63,864 Interest expense $552,919 $33,694 $179,358 ($58,623 ) $707,348 Income taxes ($732,548 ) ($269,025 ) ($35,253 ) $— ($1,036,826 ) Consolidated net income (loss) $1,495,061 ($340,641 ) ($164,271 ) ($127,594 ) $862,555 Total assets $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 Cash paid for long-lived asset additions $3,987,424 $283,707 $86 $— $4,271,217 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 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. In March 2017, Entergy sold the FitzPatrick plant, which it had intended to shut down, to Exelon. In January 2019, Entergy sold the Vermont Yankee plant, which it had previously shut down, to NorthStar. In August 2019, Entergy sold the Pilgrim plant, which it had previously shut down, to Holtec. Entergy has also announced plans to shut down Indian Point 2 in 2020, Indian Point 3 in 2021, and Palisades in 2022, and has purchase and sale agreements with Holtec for each of them expected to close after they are shut down. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants pending their sales to third parties. The decisions to shut down these plants and the related 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 2019, 2018, and 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of December 31, 2016 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Restructuring costs accrued 139 — 139 Cash paid out 43 — 43 Balance as of December 31, 2018 $179 $14 $193 Restructuring costs accrued 91 — 91 Cash paid out 141 — 141 Balance as of December 31, 2019 $129 $14 $143 In addition, Entergy Wholesale Commodities incurred $290 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment, loss on sales, and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $75 million in 2020 and a total of approximately $55 million from 2021 through 2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2019 , 2018 , and 2017 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2019 and 2018 , 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, 2019 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: 2019 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,583,985 $1,294,719 $21 ($52 ) $10,878,673 Asset write-offs, impairments, and related charges $— $290,027 $— $— $290,027 Depreciation, amortization, & decommissioning $1,493,167 $384,707 $2,944 $— $1,880,818 Interest and investment income $289,570 $414,636 $26,295 ($182,589 ) $547,912 Interest expense $589,395 $29,450 $178,575 ($54,995 ) $742,425 Income taxes $19,634 ($161,295 ) ($28,164 ) $— ($169,825 ) Consolidated net income (loss) $1,425,643 $148,870 ($188,675 ) ($127,594 ) $1,258,244 Total assets $49,557,664 $4,154,961 $514,020 ($2,502,733 ) $51,723,912 Cash paid for long-lived asset additions $4,527,045 $104,300 $160 $— $4,631,505 2018 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,540,670 $1,468,905 $— ($123 ) $11,009,452 Asset write-offs, impairments, and related charges $— $532,321 $— $— $532,321 Depreciation, amortization, & decommissioning $1,367,944 $388,732 $1,274 $— $1,757,950 Interest and investment income $203,936 $14,543 $31,602 ($186,217 ) $63,864 Interest expense $552,919 $33,694 $179,358 ($58,623 ) $707,348 Income taxes ($732,548 ) ($269,025 ) ($35,253 ) $— ($1,036,826 ) Consolidated net income (loss) $1,495,061 ($340,641 ) ($164,271 ) ($127,594 ) $862,555 Total assets $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 Cash paid for long-lived asset additions $3,987,424 $283,707 $86 $— $4,271,217 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 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. In March 2017, Entergy sold the FitzPatrick plant, which it had intended to shut down, to Exelon. In January 2019, Entergy sold the Vermont Yankee plant, which it had previously shut down, to NorthStar. In August 2019, Entergy sold the Pilgrim plant, which it had previously shut down, to Holtec. Entergy has also announced plans to shut down Indian Point 2 in 2020, Indian Point 3 in 2021, and Palisades in 2022, and has purchase and sale agreements with Holtec for each of them expected to close after they are shut down. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants pending their sales to third parties. The decisions to shut down these plants and the related 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 2019, 2018, and 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of December 31, 2016 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Restructuring costs accrued 139 — 139 Cash paid out 43 — 43 Balance as of December 31, 2018 $179 $14 $193 Restructuring costs accrued 91 — 91 Cash paid out 141 — 141 Balance as of December 31, 2019 $129 $14 $143 In addition, Entergy Wholesale Commodities incurred $290 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment, loss on sales, and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $75 million in 2020 and a total of approximately $55 million from 2021 through 2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2019 , 2018 , and 2017 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2019 and 2018 , 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, 2019 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: 2019 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,583,985 $1,294,719 $21 ($52 ) $10,878,673 Asset write-offs, impairments, and related charges $— $290,027 $— $— $290,027 Depreciation, amortization, & decommissioning $1,493,167 $384,707 $2,944 $— $1,880,818 Interest and investment income $289,570 $414,636 $26,295 ($182,589 ) $547,912 Interest expense $589,395 $29,450 $178,575 ($54,995 ) $742,425 Income taxes $19,634 ($161,295 ) ($28,164 ) $— ($169,825 ) Consolidated net income (loss) $1,425,643 $148,870 ($188,675 ) ($127,594 ) $1,258,244 Total assets $49,557,664 $4,154,961 $514,020 ($2,502,733 ) $51,723,912 Cash paid for long-lived asset additions $4,527,045 $104,300 $160 $— $4,631,505 2018 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,540,670 $1,468,905 $— ($123 ) $11,009,452 Asset write-offs, impairments, and related charges $— $532,321 $— $— $532,321 Depreciation, amortization, & decommissioning $1,367,944 $388,732 $1,274 $— $1,757,950 Interest and investment income $203,936 $14,543 $31,602 ($186,217 ) $63,864 Interest expense $552,919 $33,694 $179,358 ($58,623 ) $707,348 Income taxes ($732,548 ) ($269,025 ) ($35,253 ) $— ($1,036,826 ) Consolidated net income (loss) $1,495,061 ($340,641 ) ($164,271 ) ($127,594 ) $862,555 Total assets $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 Cash paid for long-lived asset additions $3,987,424 $283,707 $86 $— $4,271,217 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 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. In March 2017, Entergy sold the FitzPatrick plant, which it had intended to shut down, to Exelon. In January 2019, Entergy sold the Vermont Yankee plant, which it had previously shut down, to NorthStar. In August 2019, Entergy sold the Pilgrim plant, which it had previously shut down, to Holtec. Entergy has also announced plans to shut down Indian Point 2 in 2020, Indian Point 3 in 2021, and Palisades in 2022, and has purchase and sale agreements with Holtec for each of them expected to close after they are shut down. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants pending their sales to third parties. The decisions to shut down these plants and the related 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 2019, 2018, and 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of December 31, 2016 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Restructuring costs accrued 139 — 139 Cash paid out 43 — 43 Balance as of December 31, 2018 $179 $14 $193 Restructuring costs accrued 91 — 91 Cash paid out 141 — 141 Balance as of December 31, 2019 $129 $14 $143 In addition, Entergy Wholesale Commodities incurred $290 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment, loss on sales, and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $75 million in 2020 and a total of approximately $55 million from 2021 through 2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2019 , 2018 , and 2017 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2019 and 2018 , 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, 2019 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: 2019 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,583,985 $1,294,719 $21 ($52 ) $10,878,673 Asset write-offs, impairments, and related charges $— $290,027 $— $— $290,027 Depreciation, amortization, & decommissioning $1,493,167 $384,707 $2,944 $— $1,880,818 Interest and investment income $289,570 $414,636 $26,295 ($182,589 ) $547,912 Interest expense $589,395 $29,450 $178,575 ($54,995 ) $742,425 Income taxes $19,634 ($161,295 ) ($28,164 ) $— ($169,825 ) Consolidated net income (loss) $1,425,643 $148,870 ($188,675 ) ($127,594 ) $1,258,244 Total assets $49,557,664 $4,154,961 $514,020 ($2,502,733 ) $51,723,912 Cash paid for long-lived asset additions $4,527,045 $104,300 $160 $— $4,631,505 2018 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,540,670 $1,468,905 $— ($123 ) $11,009,452 Asset write-offs, impairments, and related charges $— $532,321 $— $— $532,321 Depreciation, amortization, & decommissioning $1,367,944 $388,732 $1,274 $— $1,757,950 Interest and investment income $203,936 $14,543 $31,602 ($186,217 ) $63,864 Interest expense $552,919 $33,694 $179,358 ($58,623 ) $707,348 Income taxes ($732,548 ) ($269,025 ) ($35,253 ) $— ($1,036,826 ) Consolidated net income (loss) $1,495,061 ($340,641 ) ($164,271 ) ($127,594 ) $862,555 Total assets $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 Cash paid for long-lived asset additions $3,987,424 $283,707 $86 $— $4,271,217 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 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. In March 2017, Entergy sold the FitzPatrick plant, which it had intended to shut down, to Exelon. In January 2019, Entergy sold the Vermont Yankee plant, which it had previously shut down, to NorthStar. In August 2019, Entergy sold the Pilgrim plant, which it had previously shut down, to Holtec. Entergy has also announced plans to shut down Indian Point 2 in 2020, Indian Point 3 in 2021, and Palisades in 2022, and has purchase and sale agreements with Holtec for each of them expected to close after they are shut down. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants pending their sales to third parties. The decisions to shut down these plants and the related 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 2019, 2018, and 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of December 31, 2016 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Restructuring costs accrued 139 — 139 Cash paid out 43 — 43 Balance as of December 31, 2018 $179 $14 $193 Restructuring costs accrued 91 — 91 Cash paid out 141 — 141 Balance as of December 31, 2019 $129 $14 $143 In addition, Entergy Wholesale Commodities incurred $290 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment, loss on sales, and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $75 million in 2020 and a total of approximately $55 million from 2021 through 2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2019 , 2018 , and 2017 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2019 and 2018 , 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, 2019 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: 2019 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,583,985 $1,294,719 $21 ($52 ) $10,878,673 Asset write-offs, impairments, and related charges $— $290,027 $— $— $290,027 Depreciation, amortization, & decommissioning $1,493,167 $384,707 $2,944 $— $1,880,818 Interest and investment income $289,570 $414,636 $26,295 ($182,589 ) $547,912 Interest expense $589,395 $29,450 $178,575 ($54,995 ) $742,425 Income taxes $19,634 ($161,295 ) ($28,164 ) $— ($169,825 ) Consolidated net income (loss) $1,425,643 $148,870 ($188,675 ) ($127,594 ) $1,258,244 Total assets $49,557,664 $4,154,961 $514,020 ($2,502,733 ) $51,723,912 Cash paid for long-lived asset additions $4,527,045 $104,300 $160 $— $4,631,505 2018 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,540,670 $1,468,905 $— ($123 ) $11,009,452 Asset write-offs, impairments, and related charges $— $532,321 $— $— $532,321 Depreciation, amortization, & decommissioning $1,367,944 $388,732 $1,274 $— $1,757,950 Interest and investment income $203,936 $14,543 $31,602 ($186,217 ) $63,864 Interest expense $552,919 $33,694 $179,358 ($58,623 ) $707,348 Income taxes ($732,548 ) ($269,025 ) ($35,253 ) $— ($1,036,826 ) Consolidated net income (loss) $1,495,061 ($340,641 ) ($164,271 ) ($127,594 ) $862,555 Total assets $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 Cash paid for long-lived asset additions $3,987,424 $283,707 $86 $— $4,271,217 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 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. In March 2017, Entergy sold the FitzPatrick plant, which it had intended to shut down, to Exelon. In January 2019, Entergy sold the Vermont Yankee plant, which it had previously shut down, to NorthStar. In August 2019, Entergy sold the Pilgrim plant, which it had previously shut down, to Holtec. Entergy has also announced plans to shut down Indian Point 2 in 2020, Indian Point 3 in 2021, and Palisades in 2022, and has purchase and sale agreements with Holtec for each of them expected to close after they are shut down. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants pending their sales to third parties. The decisions to shut down these plants and the related 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 2019, 2018, and 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of December 31, 2016 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Restructuring costs accrued 139 — 139 Cash paid out 43 — 43 Balance as of December 31, 2018 $179 $14 $193 Restructuring costs accrued 91 — 91 Cash paid out 141 — 141 Balance as of December 31, 2019 $129 $14 $143 In addition, Entergy Wholesale Commodities incurred $290 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment, loss on sales, and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $75 million in 2020 and a total of approximately $55 million from 2021 through 2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2019 , 2018 , and 2017 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2019 and 2018 , 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, 2019 | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans) Acquisitions Choctaw Generating Station In October 2019, Entergy Mississippi purchased the Choctaw Generating Station, an 810 MW natural gas fired combined-cycle turbine plant located near French Camp, Mississippi, from a subsidiary of GenOn Energy Inc. The purchase price for the Choctaw Generating Station was approximately $305 million . Dispositions Pilgrim In July 2018, Entergy entered into a purchase and sale agreement with Holtec International to sell to a Holtec subsidiary 100% of the equity interests in Entergy Nuclear Generation Company, the owner of the Pilgrim plant. In August 2019 the NRC approved the sale of the plant to Holtec. The transaction closed in August 2019 for a purchase price of $1,000 (subject to adjustments for net liabilities and other amounts). The sale included the transfer of the Pilgrim nuclear decommissioning trust and obligation for spent fuel management and plant decommissioning. The transaction resulted in a loss of $190 million ( $156 million net-of-tax) in the third quarter 2019. The disposition-date fair value of the nuclear decommissioning trust fund was approximately $1,030 million and the disposition-date fair value of the asset retirement obligation was $837 million . The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. Willow Glen In December 2018, Entergy Louisiana sold the Willow Glen Power Station, a non-operating gas plant. Entergy Louisiana sold Willow Glen for approximately $12 million in cash and the transfer of the obligation to decommission the plant. Entergy Louisiana recognized a regulatory liability of $5.7 million for return of removal costs previously collected in rates. Entergy Louisiana realized a pre-tax gain of $14.8 million on the sale. Entergy Louisiana recorded a $31.9 million regulatory liability to recognize the obligation to refund excess customer collections for decommissioning Willow Glen. 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 was the owner of the Vermont Yankee plant. The sale of Entergy Nuclear Vermont Yankee to NorthStar included the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. In March 2018, Entergy and NorthStar entered into a settlement agreement and a Memorandum of Understanding with State of Vermont agencies and other interested parties that set forth the terms on which the agencies and parties support the Vermont Public Utility Commission’s approval of the transaction. The agreements provide additional financial assurance for decommissioning, spent fuel management and site restoration, and detail the site restoration standards. In October 2018 the NRC issued an order approving the application to transfer Vermont Yankee’s license to NorthStar for decommissioning. In December 2018, the Vermont Public Utility Commission issued an order approving the transaction consistent with the Memorandum of Understanding’s terms. On January 11, 2019, Entergy and NorthStar closed the transaction. Entergy Nuclear Vermont Yankee had an outstanding credit facility that was used to pay for dry fuel storage costs. This credit facility was guaranteed by Entergy Corporation. A subsidiary of Entergy assumed the obligations under the credit facility. At the closing of the sale transaction, NorthStar caused Entergy Nuclear Vermont Yankee, renamed NorthStar Vermont Yankee, to issue a $139 million promissory note to the Entergy subsidiary that assumed the credit facility obligations. The amount of the note included the balance outstanding on the credit facility, as well as borrowing fees and costs incurred by Entergy in connection with the credit facility. With the receipt of the NRC and Vermont Public Utility Commission approvals and the resolution among the parties of the significant conditions of the sale, Entergy concluded that as of December 31, 2018 Vermont Yankee was in held for sale status. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction and evaluated the remaining values of the Vermont Yankee assets. These evaluations resulted in an increase in the asset retirement obligation and $173 million of asset impairment and related other charges in the fourth quarter 2018. See Note 9 to the financial statements for additional discussion of the asset retirement obligation. Upon closing of the transaction in January 2019, the Vermont Yankee decommissioning trust, along with the decommissioning obligation for the plant, was transferred to NorthStar. The assets and liabilities associated with the sale of Vermont Yankee were classified as held for sale on the Entergy Corporation and Subsidiaries Consolidated Balance Sheet as of December 31, 2018. As of December 31, 2018, the value of the decommissioning trust was $532 million . As of December 31, 2018, the asset retirement cost asset was $127 million , classified within other deferred debits, and the asset retirement cost obligation was $568 million , classified within other non-current liabilities. The Vermont Yankee spent fuel disposal contract was assigned to NorthStar as part of the transaction. The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. The transaction also resulted in other charges of $5.4 million ( $4.2 million net-of-tax) in the first quarter 2019. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant, an 838 MW nuclear power plant that was owned by Entergy in the Entergy Wholesale Commodities segment. In March 2017 the NRC approved the sale of the plant to Exelon. The transaction closed in March 2017 for a purchase price of $110 million , which included a $10 million non-refundable signing fee paid in August 2016, in addition to the assumption by Exelon of certain liabilities related to the FitzPatrick plant, resulting in a pre-tax gain on the sale of $16 million . At the transaction close, Exelon paid an additional $8 million for the proration of certain expenses prepaid by Entergy. The disposition-date fair value of the decommissioning trust fund was $805 million , classified within other deferred debits, and the disposition-date fair value of the asset retirement obligation was $727 million , classified within other non-current liabilities. The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. As part of the transaction, Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon reimbursed Entergy for specified out-of-pocket costs associated with Entergy’s operation of FitzPatrick prior to closing of the sale. In the first quarter 2017, Entergy billed Exelon for reimbursement of $98 million of other operation and maintenance expenses, $7 million in lost operating revenues, and $3 million in taxes other than income taxes, partially offset by a $10 million defueling credit to Exelon. As discussed in Note 3 to the financial statements, as a result of the sale of FitzPatrick on March 31, 2017, Entergy redetermined the plant’s tax basis, resulting in a $44 million income tax benefit in the first quarter 2017. Impairment of Long-lived Assets 2017, 2018, and 2019 Impairments Entergy continues to execute its strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet, with planned shutdowns of Indian Point 2 by April 30, 2020, Indian Point 3 by April 30, 2021, and Palisades by May 31, 2022. The remaining three Entergy Wholesale Commodities’ nuclear plants, FitzPatrick, Vermont Yankee, and Pilgrim, have been sold. The FitzPatrick plant was classified as held-for-sale at December 31, 2016, and subsequently sold to Exelon in March 2017. The Vermont Yankee plant was classified as held-for-sale at December 31, 2018, and subsequently sold to NorthStar on January 11, 2019. The Pilgrim plant was sold to Holtec International on August 26, 2019. Entergy Wholesale Commodities incurred $100 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment charges related to nuclear fuel spending, nuclear refueling outage spending, expenditures for capital assets, and asset retirement obligation revisions. These costs were charged to expense as incurred as a result of the impaired fair value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities merchant power business. Entergy expects to continue to incur costs associated with nuclear fuel-related spending, expenditures for capital assets and, except for Palisades, expects to continue to charge these costs to expense as incurred because Entergy expects the value of the plants to continue to be impaired. With respect to Palisades, Entergy and Consumers Energy had agreed to amend the existing PPA so that it would terminate early, on May 31, 2018. In September 2017, however, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement. Entergy continues to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades plant permanently no later than May 31, 2022. As a result of the change in expected operating life of the Palisades plant, the expected probability-weighted undiscounted net cash flows as of September 30, 2017 exceeded the carrying value of the plant and related assets. Accordingly, nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets incurred at Palisades after September 30, 2017 are no longer charged to expense as incurred, but recorded as assets and depreciated or amortized, subject to the typical periodic impairment reviews prescribed in the accounting rules. The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through mid-2022 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. 2018 Pilgrim Impairment The Pilgrim plant ceased operations on May 31, 2019, at the end of its current fuel cycle. Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities Report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge in the third quarter 2018. As discussed above in Dispositions , on August 26, 2019, Entergy sold the Pilgrim plant to a Holtec International subsidiary. 2018 Vermont Yankee Impairment As discussed above in Dispositions , on January 11, 2019, Entergy sold the Vermont Yankee plant to NorthStar. With the receipt of the NRC and Vermont Public Utility Commission approvals and the resolution among the parties of the significant conditions of the sale, Entergy concluded that as of December 31, 2018 Vermont Yankee was in held- for- sale status. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, and evaluated the remaining values of the Vermont Yankee assets. These evaluations resulted in $173 million of asset impairment and related charges in the fourth quarter 2018. See Note 9 to the financial statements for additional discussion of the revision of the asset retirement obligation. |
Entergy Arkansas [Member] | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans) Acquisitions Choctaw Generating Station In October 2019, Entergy Mississippi purchased the Choctaw Generating Station, an 810 MW natural gas fired combined-cycle turbine plant located near French Camp, Mississippi, from a subsidiary of GenOn Energy Inc. The purchase price for the Choctaw Generating Station was approximately $305 million . Dispositions Pilgrim In July 2018, Entergy entered into a purchase and sale agreement with Holtec International to sell to a Holtec subsidiary 100% of the equity interests in Entergy Nuclear Generation Company, the owner of the Pilgrim plant. In August 2019 the NRC approved the sale of the plant to Holtec. The transaction closed in August 2019 for a purchase price of $1,000 (subject to adjustments for net liabilities and other amounts). The sale included the transfer of the Pilgrim nuclear decommissioning trust and obligation for spent fuel management and plant decommissioning. The transaction resulted in a loss of $190 million ( $156 million net-of-tax) in the third quarter 2019. The disposition-date fair value of the nuclear decommissioning trust fund was approximately $1,030 million and the disposition-date fair value of the asset retirement obligation was $837 million . The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. Willow Glen In December 2018, Entergy Louisiana sold the Willow Glen Power Station, a non-operating gas plant. Entergy Louisiana sold Willow Glen for approximately $12 million in cash and the transfer of the obligation to decommission the plant. Entergy Louisiana recognized a regulatory liability of $5.7 million for return of removal costs previously collected in rates. Entergy Louisiana realized a pre-tax gain of $14.8 million on the sale. Entergy Louisiana recorded a $31.9 million regulatory liability to recognize the obligation to refund excess customer collections for decommissioning Willow Glen. 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 was the owner of the Vermont Yankee plant. The sale of Entergy Nuclear Vermont Yankee to NorthStar included the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. In March 2018, Entergy and NorthStar entered into a settlement agreement and a Memorandum of Understanding with State of Vermont agencies and other interested parties that set forth the terms on which the agencies and parties support the Vermont Public Utility Commission’s approval of the transaction. The agreements provide additional financial assurance for decommissioning, spent fuel management and site restoration, and detail the site restoration standards. In October 2018 the NRC issued an order approving the application to transfer Vermont Yankee’s license to NorthStar for decommissioning. In December 2018, the Vermont Public Utility Commission issued an order approving the transaction consistent with the Memorandum of Understanding’s terms. On January 11, 2019, Entergy and NorthStar closed the transaction. Entergy Nuclear Vermont Yankee had an outstanding credit facility that was used to pay for dry fuel storage costs. This credit facility was guaranteed by Entergy Corporation. A subsidiary of Entergy assumed the obligations under the credit facility. At the closing of the sale transaction, NorthStar caused Entergy Nuclear Vermont Yankee, renamed NorthStar Vermont Yankee, to issue a $139 million promissory note to the Entergy subsidiary that assumed the credit facility obligations. The amount of the note included the balance outstanding on the credit facility, as well as borrowing fees and costs incurred by Entergy in connection with the credit facility. With the receipt of the NRC and Vermont Public Utility Commission approvals and the resolution among the parties of the significant conditions of the sale, Entergy concluded that as of December 31, 2018 Vermont Yankee was in held for sale status. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction and evaluated the remaining values of the Vermont Yankee assets. These evaluations resulted in an increase in the asset retirement obligation and $173 million of asset impairment and related other charges in the fourth quarter 2018. See Note 9 to the financial statements for additional discussion of the asset retirement obligation. Upon closing of the transaction in January 2019, the Vermont Yankee decommissioning trust, along with the decommissioning obligation for the plant, was transferred to NorthStar. The assets and liabilities associated with the sale of Vermont Yankee were classified as held for sale on the Entergy Corporation and Subsidiaries Consolidated Balance Sheet as of December 31, 2018. As of December 31, 2018, the value of the decommissioning trust was $532 million . As of December 31, 2018, the asset retirement cost asset was $127 million , classified within other deferred debits, and the asset retirement cost obligation was $568 million , classified within other non-current liabilities. The Vermont Yankee spent fuel disposal contract was assigned to NorthStar as part of the transaction. The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. The transaction also resulted in other charges of $5.4 million ( $4.2 million net-of-tax) in the first quarter 2019. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant, an 838 MW nuclear power plant that was owned by Entergy in the Entergy Wholesale Commodities segment. In March 2017 the NRC approved the sale of the plant to Exelon. The transaction closed in March 2017 for a purchase price of $110 million , which included a $10 million non-refundable signing fee paid in August 2016, in addition to the assumption by Exelon of certain liabilities related to the FitzPatrick plant, resulting in a pre-tax gain on the sale of $16 million . At the transaction close, Exelon paid an additional $8 million for the proration of certain expenses prepaid by Entergy. The disposition-date fair value of the decommissioning trust fund was $805 million , classified within other deferred debits, and the disposition-date fair value of the asset retirement obligation was $727 million , classified within other non-current liabilities. The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. As part of the transaction, Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon reimbursed Entergy for specified out-of-pocket costs associated with Entergy’s operation of FitzPatrick prior to closing of the sale. In the first quarter 2017, Entergy billed Exelon for reimbursement of $98 million of other operation and maintenance expenses, $7 million in lost operating revenues, and $3 million in taxes other than income taxes, partially offset by a $10 million defueling credit to Exelon. As discussed in Note 3 to the financial statements, as a result of the sale of FitzPatrick on March 31, 2017, Entergy redetermined the plant’s tax basis, resulting in a $44 million income tax benefit in the first quarter 2017. Impairment of Long-lived Assets 2017, 2018, and 2019 Impairments Entergy continues to execute its strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet, with planned shutdowns of Indian Point 2 by April 30, 2020, Indian Point 3 by April 30, 2021, and Palisades by May 31, 2022. The remaining three Entergy Wholesale Commodities’ nuclear plants, FitzPatrick, Vermont Yankee, and Pilgrim, have been sold. The FitzPatrick plant was classified as held-for-sale at December 31, 2016, and subsequently sold to Exelon in March 2017. The Vermont Yankee plant was classified as held-for-sale at December 31, 2018, and subsequently sold to NorthStar on January 11, 2019. The Pilgrim plant was sold to Holtec International on August 26, 2019. Entergy Wholesale Commodities incurred $100 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment charges related to nuclear fuel spending, nuclear refueling outage spending, expenditures for capital assets, and asset retirement obligation revisions. These costs were charged to expense as incurred as a result of the impaired fair value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities merchant power business. Entergy expects to continue to incur costs associated with nuclear fuel-related spending, expenditures for capital assets and, except for Palisades, expects to continue to charge these costs to expense as incurred because Entergy expects the value of the plants to continue to be impaired. With respect to Palisades, Entergy and Consumers Energy had agreed to amend the existing PPA so that it would terminate early, on May 31, 2018. In September 2017, however, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement. Entergy continues to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades plant permanently no later than May 31, 2022. As a result of the change in expected operating life of the Palisades plant, the expected probability-weighted undiscounted net cash flows as of September 30, 2017 exceeded the carrying value of the plant and related assets. Accordingly, nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets incurred at Palisades after September 30, 2017 are no longer charged to expense as incurred, but recorded as assets and depreciated or amortized, subject to the typical periodic impairment reviews prescribed in the accounting rules. The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through mid-2022 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. 2018 Pilgrim Impairment The Pilgrim plant ceased operations on May 31, 2019, at the end of its current fuel cycle. Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities Report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge in the third quarter 2018. As discussed above in Dispositions , on August 26, 2019, Entergy sold the Pilgrim plant to a Holtec International subsidiary. 2018 Vermont Yankee Impairment As discussed above in Dispositions , on January 11, 2019, Entergy sold the Vermont Yankee plant to NorthStar. With the receipt of the NRC and Vermont Public Utility Commission approvals and the resolution among the parties of the significant conditions of the sale, Entergy concluded that as of December 31, 2018 Vermont Yankee was in held- for- sale status. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, and evaluated the remaining values of the Vermont Yankee assets. These evaluations resulted in $173 million of asset impairment and related charges in the fourth quarter 2018. See Note 9 to the financial statements for additional discussion of the revision of the asset retirement obligation. |
Entergy Louisiana [Member] | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans) Acquisitions Choctaw Generating Station In October 2019, Entergy Mississippi purchased the Choctaw Generating Station, an 810 MW natural gas fired combined-cycle turbine plant located near French Camp, Mississippi, from a subsidiary of GenOn Energy Inc. The purchase price for the Choctaw Generating Station was approximately $305 million . Dispositions Pilgrim In July 2018, Entergy entered into a purchase and sale agreement with Holtec International to sell to a Holtec subsidiary 100% of the equity interests in Entergy Nuclear Generation Company, the owner of the Pilgrim plant. In August 2019 the NRC approved the sale of the plant to Holtec. The transaction closed in August 2019 for a purchase price of $1,000 (subject to adjustments for net liabilities and other amounts). The sale included the transfer of the Pilgrim nuclear decommissioning trust and obligation for spent fuel management and plant decommissioning. The transaction resulted in a loss of $190 million ( $156 million net-of-tax) in the third quarter 2019. The disposition-date fair value of the nuclear decommissioning trust fund was approximately $1,030 million and the disposition-date fair value of the asset retirement obligation was $837 million . The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. Willow Glen In December 2018, Entergy Louisiana sold the Willow Glen Power Station, a non-operating gas plant. Entergy Louisiana sold Willow Glen for approximately $12 million in cash and the transfer of the obligation to decommission the plant. Entergy Louisiana recognized a regulatory liability of $5.7 million for return of removal costs previously collected in rates. Entergy Louisiana realized a pre-tax gain of $14.8 million on the sale. Entergy Louisiana recorded a $31.9 million regulatory liability to recognize the obligation to refund excess customer collections for decommissioning Willow Glen. 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 was the owner of the Vermont Yankee plant. The sale of Entergy Nuclear Vermont Yankee to NorthStar included the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. In March 2018, Entergy and NorthStar entered into a settlement agreement and a Memorandum of Understanding with State of Vermont agencies and other interested parties that set forth the terms on which the agencies and parties support the Vermont Public Utility Commission’s approval of the transaction. The agreements provide additional financial assurance for decommissioning, spent fuel management and site restoration, and detail the site restoration standards. In October 2018 the NRC issued an order approving the application to transfer Vermont Yankee’s license to NorthStar for decommissioning. In December 2018, the Vermont Public Utility Commission issued an order approving the transaction consistent with the Memorandum of Understanding’s terms. On January 11, 2019, Entergy and NorthStar closed the transaction. Entergy Nuclear Vermont Yankee had an outstanding credit facility that was used to pay for dry fuel storage costs. This credit facility was guaranteed by Entergy Corporation. A subsidiary of Entergy assumed the obligations under the credit facility. At the closing of the sale transaction, NorthStar caused Entergy Nuclear Vermont Yankee, renamed NorthStar Vermont Yankee, to issue a $139 million promissory note to the Entergy subsidiary that assumed the credit facility obligations. The amount of the note included the balance outstanding on the credit facility, as well as borrowing fees and costs incurred by Entergy in connection with the credit facility. With the receipt of the NRC and Vermont Public Utility Commission approvals and the resolution among the parties of the significant conditions of the sale, Entergy concluded that as of December 31, 2018 Vermont Yankee was in held for sale status. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction and evaluated the remaining values of the Vermont Yankee assets. These evaluations resulted in an increase in the asset retirement obligation and $173 million of asset impairment and related other charges in the fourth quarter 2018. See Note 9 to the financial statements for additional discussion of the asset retirement obligation. Upon closing of the transaction in January 2019, the Vermont Yankee decommissioning trust, along with the decommissioning obligation for the plant, was transferred to NorthStar. The assets and liabilities associated with the sale of Vermont Yankee were classified as held for sale on the Entergy Corporation and Subsidiaries Consolidated Balance Sheet as of December 31, 2018. As of December 31, 2018, the value of the decommissioning trust was $532 million . As of December 31, 2018, the asset retirement cost asset was $127 million , classified within other deferred debits, and the asset retirement cost obligation was $568 million , classified within other non-current liabilities. The Vermont Yankee spent fuel disposal contract was assigned to NorthStar as part of the transaction. The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. The transaction also resulted in other charges of $5.4 million ( $4.2 million net-of-tax) in the first quarter 2019. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant, an 838 MW nuclear power plant that was owned by Entergy in the Entergy Wholesale Commodities segment. In March 2017 the NRC approved the sale of the plant to Exelon. The transaction closed in March 2017 for a purchase price of $110 million , which included a $10 million non-refundable signing fee paid in August 2016, in addition to the assumption by Exelon of certain liabilities related to the FitzPatrick plant, resulting in a pre-tax gain on the sale of $16 million . At the transaction close, Exelon paid an additional $8 million for the proration of certain expenses prepaid by Entergy. The disposition-date fair value of the decommissioning trust fund was $805 million , classified within other deferred debits, and the disposition-date fair value of the asset retirement obligation was $727 million , classified within other non-current liabilities. The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. As part of the transaction, Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon reimbursed Entergy for specified out-of-pocket costs associated with Entergy’s operation of FitzPatrick prior to closing of the sale. In the first quarter 2017, Entergy billed Exelon for reimbursement of $98 million of other operation and maintenance expenses, $7 million in lost operating revenues, and $3 million in taxes other than income taxes, partially offset by a $10 million defueling credit to Exelon. As discussed in Note 3 to the financial statements, as a result of the sale of FitzPatrick on March 31, 2017, Entergy redetermined the plant’s tax basis, resulting in a $44 million income tax benefit in the first quarter 2017. Impairment of Long-lived Assets 2017, 2018, and 2019 Impairments Entergy continues to execute its strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet, with planned shutdowns of Indian Point 2 by April 30, 2020, Indian Point 3 by April 30, 2021, and Palisades by May 31, 2022. The remaining three Entergy Wholesale Commodities’ nuclear plants, FitzPatrick, Vermont Yankee, and Pilgrim, have been sold. The FitzPatrick plant was classified as held-for-sale at December 31, 2016, and subsequently sold to Exelon in March 2017. The Vermont Yankee plant was classified as held-for-sale at December 31, 2018, and subsequently sold to NorthStar on January 11, 2019. The Pilgrim plant was sold to Holtec International on August 26, 2019. Entergy Wholesale Commodities incurred $100 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment charges related to nuclear fuel spending, nuclear refueling outage spending, expenditures for capital assets, and asset retirement obligation revisions. These costs were charged to expense as incurred as a result of the impaired fair value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities merchant power business. Entergy expects to continue to incur costs associated with nuclear fuel-related spending, expenditures for capital assets and, except for Palisades, expects to continue to charge these costs to expense as incurred because Entergy expects the value of the plants to continue to be impaired. With respect to Palisades, Entergy and Consumers Energy had agreed to amend the existing PPA so that it would terminate early, on May 31, 2018. In September 2017, however, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement. Entergy continues to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades plant permanently no later than May 31, 2022. As a result of the change in expected operating life of the Palisades plant, the expected probability-weighted undiscounted net cash flows as of September 30, 2017 exceeded the carrying value of the plant and related assets. Accordingly, nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets incurred at Palisades after September 30, 2017 are no longer charged to expense as incurred, but recorded as assets and depreciated or amortized, subject to the typical periodic impairment reviews prescribed in the accounting rules. The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through mid-2022 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. 2018 Pilgrim Impairment The Pilgrim plant ceased operations on May 31, 2019, at the end of its current fuel cycle. Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities Report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge in the third quarter 2018. As discussed above in Dispositions , on August 26, 2019, Entergy sold the Pilgrim plant to a Holtec International subsidiary. 2018 Vermont Yankee Impairment As discussed above in Dispositions , on January 11, 2019, Entergy sold the Vermont Yankee plant to NorthStar. With the receipt of the NRC and Vermont Public Utility Commission approvals and the resolution among the parties of the significant conditions of the sale, Entergy concluded that as of December 31, 2018 Vermont Yankee was in held- for- sale status. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, and evaluated the remaining values of the Vermont Yankee assets. These evaluations resulted in $173 million of asset impairment and related charges in the fourth quarter 2018. See Note 9 to the financial statements for additional discussion of the revision of the asset retirement obligation. |
Entergy Mississippi [Member] | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans) Acquisitions Choctaw Generating Station In October 2019, Entergy Mississippi purchased the Choctaw Generating Station, an 810 MW natural gas fired combined-cycle turbine plant located near French Camp, Mississippi, from a subsidiary of GenOn Energy Inc. The purchase price for the Choctaw Generating Station was approximately $305 million . Dispositions Pilgrim In July 2018, Entergy entered into a purchase and sale agreement with Holtec International to sell to a Holtec subsidiary 100% of the equity interests in Entergy Nuclear Generation Company, the owner of the Pilgrim plant. In August 2019 the NRC approved the sale of the plant to Holtec. The transaction closed in August 2019 for a purchase price of $1,000 (subject to adjustments for net liabilities and other amounts). The sale included the transfer of the Pilgrim nuclear decommissioning trust and obligation for spent fuel management and plant decommissioning. The transaction resulted in a loss of $190 million ( $156 million net-of-tax) in the third quarter 2019. The disposition-date fair value of the nuclear decommissioning trust fund was approximately $1,030 million and the disposition-date fair value of the asset retirement obligation was $837 million . The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. Willow Glen In December 2018, Entergy Louisiana sold the Willow Glen Power Station, a non-operating gas plant. Entergy Louisiana sold Willow Glen for approximately $12 million in cash and the transfer of the obligation to decommission the plant. Entergy Louisiana recognized a regulatory liability of $5.7 million for return of removal costs previously collected in rates. Entergy Louisiana realized a pre-tax gain of $14.8 million on the sale. Entergy Louisiana recorded a $31.9 million regulatory liability to recognize the obligation to refund excess customer collections for decommissioning Willow Glen. 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 was the owner of the Vermont Yankee plant. The sale of Entergy Nuclear Vermont Yankee to NorthStar included the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. In March 2018, Entergy and NorthStar entered into a settlement agreement and a Memorandum of Understanding with State of Vermont agencies and other interested parties that set forth the terms on which the agencies and parties support the Vermont Public Utility Commission’s approval of the transaction. The agreements provide additional financial assurance for decommissioning, spent fuel management and site restoration, and detail the site restoration standards. In October 2018 the NRC issued an order approving the application to transfer Vermont Yankee’s license to NorthStar for decommissioning. In December 2018, the Vermont Public Utility Commission issued an order approving the transaction consistent with the Memorandum of Understanding’s terms. On January 11, 2019, Entergy and NorthStar closed the transaction. Entergy Nuclear Vermont Yankee had an outstanding credit facility that was used to pay for dry fuel storage costs. This credit facility was guaranteed by Entergy Corporation. A subsidiary of Entergy assumed the obligations under the credit facility. At the closing of the sale transaction, NorthStar caused Entergy Nuclear Vermont Yankee, renamed NorthStar Vermont Yankee, to issue a $139 million promissory note to the Entergy subsidiary that assumed the credit facility obligations. The amount of the note included the balance outstanding on the credit facility, as well as borrowing fees and costs incurred by Entergy in connection with the credit facility. With the receipt of the NRC and Vermont Public Utility Commission approvals and the resolution among the parties of the significant conditions of the sale, Entergy concluded that as of December 31, 2018 Vermont Yankee was in held for sale status. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction and evaluated the remaining values of the Vermont Yankee assets. These evaluations resulted in an increase in the asset retirement obligation and $173 million of asset impairment and related other charges in the fourth quarter 2018. See Note 9 to the financial statements for additional discussion of the asset retirement obligation. Upon closing of the transaction in January 2019, the Vermont Yankee decommissioning trust, along with the decommissioning obligation for the plant, was transferred to NorthStar. The assets and liabilities associated with the sale of Vermont Yankee were classified as held for sale on the Entergy Corporation and Subsidiaries Consolidated Balance Sheet as of December 31, 2018. As of December 31, 2018, the value of the decommissioning trust was $532 million . As of December 31, 2018, the asset retirement cost asset was $127 million , classified within other deferred debits, and the asset retirement cost obligation was $568 million , classified within other non-current liabilities. The Vermont Yankee spent fuel disposal contract was assigned to NorthStar as part of the transaction. The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. The transaction also resulted in other charges of $5.4 million ( $4.2 million net-of-tax) in the first quarter 2019. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant, an 838 MW nuclear power plant that was owned by Entergy in the Entergy Wholesale Commodities segment. In March 2017 the NRC approved the sale of the plant to Exelon. The transaction closed in March 2017 for a purchase price of $110 million , which included a $10 million non-refundable signing fee paid in August 2016, in addition to the assumption by Exelon of certain liabilities related to the FitzPatrick plant, resulting in a pre-tax gain on the sale of $16 million . At the transaction close, Exelon paid an additional $8 million for the proration of certain expenses prepaid by Entergy. The disposition-date fair value of the decommissioning trust fund was $805 million , classified within other deferred debits, and the disposition-date fair value of the asset retirement obligation was $727 million , classified within other non-current liabilities. The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. As part of the transaction, Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon reimbursed Entergy for specified out-of-pocket costs associated with Entergy’s operation of FitzPatrick prior to closing of the sale. In the first quarter 2017, Entergy billed Exelon for reimbursement of $98 million of other operation and maintenance expenses, $7 million in lost operating revenues, and $3 million in taxes other than income taxes, partially offset by a $10 million defueling credit to Exelon. As discussed in Note 3 to the financial statements, as a result of the sale of FitzPatrick on March 31, 2017, Entergy redetermined the plant’s tax basis, resulting in a $44 million income tax benefit in the first quarter 2017. Impairment of Long-lived Assets 2017, 2018, and 2019 Impairments Entergy continues to execute its strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet, with planned shutdowns of Indian Point 2 by April 30, 2020, Indian Point 3 by April 30, 2021, and Palisades by May 31, 2022. The remaining three Entergy Wholesale Commodities’ nuclear plants, FitzPatrick, Vermont Yankee, and Pilgrim, have been sold. The FitzPatrick plant was classified as held-for-sale at December 31, 2016, and subsequently sold to Exelon in March 2017. The Vermont Yankee plant was classified as held-for-sale at December 31, 2018, and subsequently sold to NorthStar on January 11, 2019. The Pilgrim plant was sold to Holtec International on August 26, 2019. Entergy Wholesale Commodities incurred $100 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment charges related to nuclear fuel spending, nuclear refueling outage spending, expenditures for capital assets, and asset retirement obligation revisions. These costs were charged to expense as incurred as a result of the impaired fair value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities merchant power business. Entergy expects to continue to incur costs associated with nuclear fuel-related spending, expenditures for capital assets and, except for Palisades, expects to continue to charge these costs to expense as incurred because Entergy expects the value of the plants to continue to be impaired. With respect to Palisades, Entergy and Consumers Energy had agreed to amend the existing PPA so that it would terminate early, on May 31, 2018. In September 2017, however, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement. Entergy continues to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades plant permanently no later than May 31, 2022. As a result of the change in expected operating life of the Palisades plant, the expected probability-weighted undiscounted net cash flows as of September 30, 2017 exceeded the carrying value of the plant and related assets. Accordingly, nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets incurred at Palisades after September 30, 2017 are no longer charged to expense as incurred, but recorded as assets and depreciated or amortized, subject to the typical periodic impairment reviews prescribed in the accounting rules. The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through mid-2022 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. 2018 Pilgrim Impairment The Pilgrim plant ceased operations on May 31, 2019, at the end of its current fuel cycle. Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities Report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge in the third quarter 2018. As discussed above in Dispositions , on August 26, 2019, Entergy sold the Pilgrim plant to a Holtec International subsidiary. 2018 Vermont Yankee Impairment As discussed above in Dispositions , on January 11, 2019, Entergy sold the Vermont Yankee plant to NorthStar. With the receipt of the NRC and Vermont Public Utility Commission approvals and the resolution among the parties of the significant conditions of the sale, Entergy concluded that as of December 31, 2018 Vermont Yankee was in held- for- sale status. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, and evaluated the remaining values of the Vermont Yankee assets. These evaluations resulted in $173 million of asset impairment and related charges in the fourth quarter 2018. See Note 9 to the financial statements for additional discussion of the revision of the asset retirement obligation. |
Entergy New Orleans [Member] | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans) Acquisitions Choctaw Generating Station In October 2019, Entergy Mississippi purchased the Choctaw Generating Station, an 810 MW natural gas fired combined-cycle turbine plant located near French Camp, Mississippi, from a subsidiary of GenOn Energy Inc. The purchase price for the Choctaw Generating Station was approximately $305 million . Dispositions Pilgrim In July 2018, Entergy entered into a purchase and sale agreement with Holtec International to sell to a Holtec subsidiary 100% of the equity interests in Entergy Nuclear Generation Company, the owner of the Pilgrim plant. In August 2019 the NRC approved the sale of the plant to Holtec. The transaction closed in August 2019 for a purchase price of $1,000 (subject to adjustments for net liabilities and other amounts). The sale included the transfer of the Pilgrim nuclear decommissioning trust and obligation for spent fuel management and plant decommissioning. The transaction resulted in a loss of $190 million ( $156 million net-of-tax) in the third quarter 2019. The disposition-date fair value of the nuclear decommissioning trust fund was approximately $1,030 million and the disposition-date fair value of the asset retirement obligation was $837 million . The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. Willow Glen In December 2018, Entergy Louisiana sold the Willow Glen Power Station, a non-operating gas plant. Entergy Louisiana sold Willow Glen for approximately $12 million in cash and the transfer of the obligation to decommission the plant. Entergy Louisiana recognized a regulatory liability of $5.7 million for return of removal costs previously collected in rates. Entergy Louisiana realized a pre-tax gain of $14.8 million on the sale. Entergy Louisiana recorded a $31.9 million regulatory liability to recognize the obligation to refund excess customer collections for decommissioning Willow Glen. 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 was the owner of the Vermont Yankee plant. The sale of Entergy Nuclear Vermont Yankee to NorthStar included the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. In March 2018, Entergy and NorthStar entered into a settlement agreement and a Memorandum of Understanding with State of Vermont agencies and other interested parties that set forth the terms on which the agencies and parties support the Vermont Public Utility Commission’s approval of the transaction. The agreements provide additional financial assurance for decommissioning, spent fuel management and site restoration, and detail the site restoration standards. In October 2018 the NRC issued an order approving the application to transfer Vermont Yankee’s license to NorthStar for decommissioning. In December 2018, the Vermont Public Utility Commission issued an order approving the transaction consistent with the Memorandum of Understanding’s terms. On January 11, 2019, Entergy and NorthStar closed the transaction. Entergy Nuclear Vermont Yankee had an outstanding credit facility that was used to pay for dry fuel storage costs. This credit facility was guaranteed by Entergy Corporation. A subsidiary of Entergy assumed the obligations under the credit facility. At the closing of the sale transaction, NorthStar caused Entergy Nuclear Vermont Yankee, renamed NorthStar Vermont Yankee, to issue a $139 million promissory note to the Entergy subsidiary that assumed the credit facility obligations. The amount of the note included the balance outstanding on the credit facility, as well as borrowing fees and costs incurred by Entergy in connection with the credit facility. With the receipt of the NRC and Vermont Public Utility Commission approvals and the resolution among the parties of the significant conditions of the sale, Entergy concluded that as of December 31, 2018 Vermont Yankee was in held for sale status. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction and evaluated the remaining values of the Vermont Yankee assets. These evaluations resulted in an increase in the asset retirement obligation and $173 million of asset impairment and related other charges in the fourth quarter 2018. See Note 9 to the financial statements for additional discussion of the asset retirement obligation. Upon closing of the transaction in January 2019, the Vermont Yankee decommissioning trust, along with the decommissioning obligation for the plant, was transferred to NorthStar. The assets and liabilities associated with the sale of Vermont Yankee were classified as held for sale on the Entergy Corporation and Subsidiaries Consolidated Balance Sheet as of December 31, 2018. As of December 31, 2018, the value of the decommissioning trust was $532 million . As of December 31, 2018, the asset retirement cost asset was $127 million , classified within other deferred debits, and the asset retirement cost obligation was $568 million , classified within other non-current liabilities. The Vermont Yankee spent fuel disposal contract was assigned to NorthStar as part of the transaction. The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. The transaction also resulted in other charges of $5.4 million ( $4.2 million net-of-tax) in the first quarter 2019. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant, an 838 MW nuclear power plant that was owned by Entergy in the Entergy Wholesale Commodities segment. In March 2017 the NRC approved the sale of the plant to Exelon. The transaction closed in March 2017 for a purchase price of $110 million , which included a $10 million non-refundable signing fee paid in August 2016, in addition to the assumption by Exelon of certain liabilities related to the FitzPatrick plant, resulting in a pre-tax gain on the sale of $16 million . At the transaction close, Exelon paid an additional $8 million for the proration of certain expenses prepaid by Entergy. The disposition-date fair value of the decommissioning trust fund was $805 million , classified within other deferred debits, and the disposition-date fair value of the asset retirement obligation was $727 million , classified within other non-current liabilities. The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. As part of the transaction, Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon reimbursed Entergy for specified out-of-pocket costs associated with Entergy’s operation of FitzPatrick prior to closing of the sale. In the first quarter 2017, Entergy billed Exelon for reimbursement of $98 million of other operation and maintenance expenses, $7 million in lost operating revenues, and $3 million in taxes other than income taxes, partially offset by a $10 million defueling credit to Exelon. As discussed in Note 3 to the financial statements, as a result of the sale of FitzPatrick on March 31, 2017, Entergy redetermined the plant’s tax basis, resulting in a $44 million income tax benefit in the first quarter 2017. Impairment of Long-lived Assets 2017, 2018, and 2019 Impairments Entergy continues to execute its strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet, with planned shutdowns of Indian Point 2 by April 30, 2020, Indian Point 3 by April 30, 2021, and Palisades by May 31, 2022. The remaining three Entergy Wholesale Commodities’ nuclear plants, FitzPatrick, Vermont Yankee, and Pilgrim, have been sold. The FitzPatrick plant was classified as held-for-sale at December 31, 2016, and subsequently sold to Exelon in March 2017. The Vermont Yankee plant was classified as held-for-sale at December 31, 2018, and subsequently sold to NorthStar on January 11, 2019. The Pilgrim plant was sold to Holtec International on August 26, 2019. Entergy Wholesale Commodities incurred $100 million in 2019, $532 million in 2018, and $538 million in 2017 of impairment charges related to nuclear fuel spending, nuclear refueling outage spending, expenditures for capital assets, and asset retirement obligation revisions. These costs were charged to expense as incurred as a result of the impaired fair value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities merchant power business. Entergy expects to continue to incur costs associated with nuclear fuel-related spending, expenditures for capital assets and, except for Palisades, expects to continue to charge these costs to expense as incurred because Entergy expects the value of the plants to continue to be impaired. With respect to Palisades, Entergy and Consumers Energy had agreed to amend the existing PPA so that it would terminate early, on May 31, 2018. In September 2017, however, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement. Entergy continues to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades plant permanently no later than May 31, 2022. As a result of the change in expected operating life of the Palisades plant, the expected probability-weighted undiscounted net cash flows as of September 30, 2017 exceeded the carrying value of the plant and related assets. Accordingly, nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets incurred at Palisades after September 30, 2017 are no longer charged to expense as incurred, but recorded as assets and depreciated or amortized, subject to the typical periodic impairment reviews prescribed in the accounting rules. The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through mid-2022 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. 2018 Pilgrim Impairment The Pilgrim plant ceased operations on May 31, 2019, at the end of its current fuel cycle. Entergy Nuclear Generation Company filed its Post-Shutdown Decommissioning Activities Report (PSDAR) with the NRC in the fourth quarter 2018 for the Pilgrim plant. As part of the development of the PSDAR, Entergy obtained a revised decommissioning cost study in the third quarter 2018. The revised estimate resulted in a $117.5 million increase in the decommissioning cost liability and a corresponding impairment charge in the third quarter 2018. As discussed above in Dispositions , on August 26, 2019, Entergy sold the Pilgrim plant to a Holtec International subsidiary. 2018 Vermont Yankee Impairment As discussed above in Dispositions , on January 11, 2019, Entergy sold the Vermont Yankee plant to NorthStar. With the receipt of the NRC and Vermont Public Utility Commission approvals and the resolution among the parties of the significant conditions of the sale, Entergy concluded that as of December 31, 2018 Vermont Yankee was in held- for- sale status. Entergy accordingly evaluated the Vermont Yankee asset retirement obligation in light of the terms of the sale transaction, and evaluated the remaining values of the Vermont Yankee assets. These evaluations resulted in $173 million of asset impairment and related charges in the fourth quarter 2018. See Note 9 to the financial statements for additional discussion of the revision of the asset retirement obligation. |
Risk Management And Fair Values
Risk Management And Fair Values | 12 Months Ended |
Dec. 31, 2019 | |
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 may also use a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2019 is approximately 1.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for 2020 , of which approximately 65% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2020 is 17.8 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 guarantee, 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, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $11 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $1 million in cash collateral and $98 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options 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 price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of December 31, 2019 is 4.25 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of December 31, 2019 is 10 months for Entergy Mississippi and 3 months Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of December 31, 2019 is 40,926,000 MMBtu for Entergy, including 31,040,000 MMBtu for Entergy Louisiana, 9,330,000 MMBtu for Entergy Mississippi, and 556,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2019 is 48,825 GWh for Entergy, including 11,078 GWh for Entergy Arkansas, 22,282 GWh for Entergy Louisiana, 6,195 GWh for Entergy Mississippi, 2,331 GWh for Entergy New Orleans, and 6,741 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of December 31, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2019 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $92 ($1) $91 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 $— $17 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $11 ($1) $10 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $10 $— $10 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $2 ($2) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities (current portion) $5 $— $5 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $2 $— $2 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 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 Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $11 million posted and $1 million held as of December 31, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $98 million held as of December 31, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Amount of gain (loss) 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) 2019 Electricity swaps and options $232 Competitive business operating revenues $97 2018 Electricity swaps and options ($40) Competitive business operating revenues ($68) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 (a) Before taxes of $20 million , ($14) million , and $38 million , for the years ended December 31, 2019 , 2018 , and 2017 , respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($5.9) million and ($3) million for the years ended December 31, 2018 and 2017, respectively. Based on market prices as of December 31, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $108 million of net unrealized losses. Approximately $91 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) Financial transmission rights Purchased power expense (b) $94 Electricity swaps and options (c) Competitive business operating revenues $12 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) $8 Financial transmission rights Purchased power expense (b) $131 Electricity swaps and options (c) Competitive business operating revenues $8 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights Purchased power expense (b) $139 (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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) There were no gains (losses) recognized in accumulated other comprehensive income from electricity swaps and options. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. 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 and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third-party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on a quarterly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares p |
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 may also use a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2019 is approximately 1.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for 2020 , of which approximately 65% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2020 is 17.8 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 guarantee, 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, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $11 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $1 million in cash collateral and $98 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options 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 price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of December 31, 2019 is 4.25 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of December 31, 2019 is 10 months for Entergy Mississippi and 3 months Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of December 31, 2019 is 40,926,000 MMBtu for Entergy, including 31,040,000 MMBtu for Entergy Louisiana, 9,330,000 MMBtu for Entergy Mississippi, and 556,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2019 is 48,825 GWh for Entergy, including 11,078 GWh for Entergy Arkansas, 22,282 GWh for Entergy Louisiana, 6,195 GWh for Entergy Mississippi, 2,331 GWh for Entergy New Orleans, and 6,741 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of December 31, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2019 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $92 ($1) $91 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 $— $17 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $11 ($1) $10 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $10 $— $10 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $2 ($2) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities (current portion) $5 $— $5 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $2 $— $2 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 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 Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $11 million posted and $1 million held as of December 31, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $98 million held as of December 31, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Amount of gain (loss) 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) 2019 Electricity swaps and options $232 Competitive business operating revenues $97 2018 Electricity swaps and options ($40) Competitive business operating revenues ($68) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 (a) Before taxes of $20 million , ($14) million , and $38 million , for the years ended December 31, 2019 , 2018 , and 2017 , respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($5.9) million and ($3) million for the years ended December 31, 2018 and 2017, respectively. Based on market prices as of December 31, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $108 million of net unrealized losses. Approximately $91 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) Financial transmission rights Purchased power expense (b) $94 Electricity swaps and options (c) Competitive business operating revenues $12 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) $8 Financial transmission rights Purchased power expense (b) $131 Electricity swaps and options (c) Competitive business operating revenues $8 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights Purchased power expense (b) $139 (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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) There were no gains (losses) recognized in accumulated other comprehensive income from electricity swaps and options. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. 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 and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third-party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on a quarterly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares p |
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 may also use a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2019 is approximately 1.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for 2020 , of which approximately 65% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2020 is 17.8 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 guarantee, 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, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $11 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $1 million in cash collateral and $98 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options 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 price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of December 31, 2019 is 4.25 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of December 31, 2019 is 10 months for Entergy Mississippi and 3 months Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of December 31, 2019 is 40,926,000 MMBtu for Entergy, including 31,040,000 MMBtu for Entergy Louisiana, 9,330,000 MMBtu for Entergy Mississippi, and 556,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2019 is 48,825 GWh for Entergy, including 11,078 GWh for Entergy Arkansas, 22,282 GWh for Entergy Louisiana, 6,195 GWh for Entergy Mississippi, 2,331 GWh for Entergy New Orleans, and 6,741 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of December 31, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2019 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $92 ($1) $91 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 $— $17 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $11 ($1) $10 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $10 $— $10 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $2 ($2) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities (current portion) $5 $— $5 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $2 $— $2 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 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 Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $11 million posted and $1 million held as of December 31, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $98 million held as of December 31, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Amount of gain (loss) 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) 2019 Electricity swaps and options $232 Competitive business operating revenues $97 2018 Electricity swaps and options ($40) Competitive business operating revenues ($68) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 (a) Before taxes of $20 million , ($14) million , and $38 million , for the years ended December 31, 2019 , 2018 , and 2017 , respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($5.9) million and ($3) million for the years ended December 31, 2018 and 2017, respectively. Based on market prices as of December 31, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $108 million of net unrealized losses. Approximately $91 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) Financial transmission rights Purchased power expense (b) $94 Electricity swaps and options (c) Competitive business operating revenues $12 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) $8 Financial transmission rights Purchased power expense (b) $131 Electricity swaps and options (c) Competitive business operating revenues $8 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights Purchased power expense (b) $139 (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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) There were no gains (losses) recognized in accumulated other comprehensive income from electricity swaps and options. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. 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 and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third-party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on a quarterly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares p |
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 may also use a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2019 is approximately 1.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for 2020 , of which approximately 65% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2020 is 17.8 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 guarantee, 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, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $11 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $1 million in cash collateral and $98 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options 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 price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of December 31, 2019 is 4.25 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of December 31, 2019 is 10 months for Entergy Mississippi and 3 months Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of December 31, 2019 is 40,926,000 MMBtu for Entergy, including 31,040,000 MMBtu for Entergy Louisiana, 9,330,000 MMBtu for Entergy Mississippi, and 556,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2019 is 48,825 GWh for Entergy, including 11,078 GWh for Entergy Arkansas, 22,282 GWh for Entergy Louisiana, 6,195 GWh for Entergy Mississippi, 2,331 GWh for Entergy New Orleans, and 6,741 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of December 31, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2019 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $92 ($1) $91 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 $— $17 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $11 ($1) $10 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $10 $— $10 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $2 ($2) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities (current portion) $5 $— $5 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $2 $— $2 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 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 Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $11 million posted and $1 million held as of December 31, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $98 million held as of December 31, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Amount of gain (loss) 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) 2019 Electricity swaps and options $232 Competitive business operating revenues $97 2018 Electricity swaps and options ($40) Competitive business operating revenues ($68) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 (a) Before taxes of $20 million , ($14) million , and $38 million , for the years ended December 31, 2019 , 2018 , and 2017 , respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($5.9) million and ($3) million for the years ended December 31, 2018 and 2017, respectively. Based on market prices as of December 31, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $108 million of net unrealized losses. Approximately $91 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) Financial transmission rights Purchased power expense (b) $94 Electricity swaps and options (c) Competitive business operating revenues $12 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) $8 Financial transmission rights Purchased power expense (b) $131 Electricity swaps and options (c) Competitive business operating revenues $8 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights Purchased power expense (b) $139 (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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) There were no gains (losses) recognized in accumulated other comprehensive income from electricity swaps and options. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. 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 and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third-party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on a quarterly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares p |
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 may also use a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2019 is approximately 1.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for 2020 , of which approximately 65% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2020 is 17.8 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 guarantee, 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, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $11 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $1 million in cash collateral and $98 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options 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 price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of December 31, 2019 is 4.25 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of December 31, 2019 is 10 months for Entergy Mississippi and 3 months Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of December 31, 2019 is 40,926,000 MMBtu for Entergy, including 31,040,000 MMBtu for Entergy Louisiana, 9,330,000 MMBtu for Entergy Mississippi, and 556,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2019 is 48,825 GWh for Entergy, including 11,078 GWh for Entergy Arkansas, 22,282 GWh for Entergy Louisiana, 6,195 GWh for Entergy Mississippi, 2,331 GWh for Entergy New Orleans, and 6,741 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of December 31, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2019 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $92 ($1) $91 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 $— $17 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $11 ($1) $10 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $10 $— $10 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $2 ($2) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities (current portion) $5 $— $5 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $2 $— $2 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 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 Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $11 million posted and $1 million held as of December 31, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $98 million held as of December 31, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Amount of gain (loss) 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) 2019 Electricity swaps and options $232 Competitive business operating revenues $97 2018 Electricity swaps and options ($40) Competitive business operating revenues ($68) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 (a) Before taxes of $20 million , ($14) million , and $38 million , for the years ended December 31, 2019 , 2018 , and 2017 , respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($5.9) million and ($3) million for the years ended December 31, 2018 and 2017, respectively. Based on market prices as of December 31, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $108 million of net unrealized losses. Approximately $91 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) Financial transmission rights Purchased power expense (b) $94 Electricity swaps and options (c) Competitive business operating revenues $12 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) $8 Financial transmission rights Purchased power expense (b) $131 Electricity swaps and options (c) Competitive business operating revenues $8 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights Purchased power expense (b) $139 (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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) There were no gains (losses) recognized in accumulated other comprehensive income from electricity swaps and options. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. 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 and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third-party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on a quarterly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares p |
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 may also use a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2019 is approximately 1.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for 2020 , of which approximately 65% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2020 is 17.8 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 guarantee, 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, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $11 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $1 million in cash collateral and $98 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options 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 price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of December 31, 2019 is 4.25 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of December 31, 2019 is 10 months for Entergy Mississippi and 3 months Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of December 31, 2019 is 40,926,000 MMBtu for Entergy, including 31,040,000 MMBtu for Entergy Louisiana, 9,330,000 MMBtu for Entergy Mississippi, and 556,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2019 is 48,825 GWh for Entergy, including 11,078 GWh for Entergy Arkansas, 22,282 GWh for Entergy Louisiana, 6,195 GWh for Entergy Mississippi, 2,331 GWh for Entergy New Orleans, and 6,741 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of December 31, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2019 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $92 ($1) $91 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 $— $17 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $11 ($1) $10 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $10 $— $10 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $2 ($2) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities (current portion) $5 $— $5 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $2 $— $2 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 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 Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $11 million posted and $1 million held as of December 31, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $98 million held as of December 31, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Amount of gain (loss) 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) 2019 Electricity swaps and options $232 Competitive business operating revenues $97 2018 Electricity swaps and options ($40) Competitive business operating revenues ($68) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 (a) Before taxes of $20 million , ($14) million , and $38 million , for the years ended December 31, 2019 , 2018 , and 2017 , respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($5.9) million and ($3) million for the years ended December 31, 2018 and 2017, respectively. Based on market prices as of December 31, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $108 million of net unrealized losses. Approximately $91 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) Financial transmission rights Purchased power expense (b) $94 Electricity swaps and options (c) Competitive business operating revenues $12 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) $8 Financial transmission rights Purchased power expense (b) $131 Electricity swaps and options (c) Competitive business operating revenues $8 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights Purchased power expense (b) $139 (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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) There were no gains (losses) recognized in accumulated other comprehensive income from electricity swaps and options. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. 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 and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third-party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on a quarterly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares p |
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 may also use a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2019 is approximately 1.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for 2020 , of which approximately 65% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2020 is 17.8 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 guarantee, 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, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $11 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $1 million in cash collateral and $98 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options 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 price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of December 31, 2019 is 4.25 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of December 31, 2019 is 10 months for Entergy Mississippi and 3 months Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of December 31, 2019 is 40,926,000 MMBtu for Entergy, including 31,040,000 MMBtu for Entergy Louisiana, 9,330,000 MMBtu for Entergy Mississippi, and 556,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments that represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2019 is 48,825 GWh for Entergy, including 11,078 GWh for Entergy Arkansas, 22,282 GWh for Entergy Louisiana, 6,195 GWh for Entergy Mississippi, 2,331 GWh for Entergy New Orleans, and 6,741 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of December 31, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2019 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $92 ($1) $91 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 $— $17 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $11 ($1) $10 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $10 $— $10 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $2 ($2) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities (current portion) $5 $— $5 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $2 $— $2 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 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 Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $11 million posted and $1 million held as of December 31, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $98 million held as of December 31, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Amount of gain (loss) 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) 2019 Electricity swaps and options $232 Competitive business operating revenues $97 2018 Electricity swaps and options ($40) Competitive business operating revenues ($68) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 (a) Before taxes of $20 million , ($14) million , and $38 million , for the years ended December 31, 2019 , 2018 , and 2017 , respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($5.9) million and ($3) million for the years ended December 31, 2018 and 2017, respectively. Based on market prices as of December 31, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $108 million of net unrealized losses. Approximately $91 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) Financial transmission rights Purchased power expense (b) $94 Electricity swaps and options (c) Competitive business operating revenues $12 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) $8 Financial transmission rights Purchased power expense (b) $131 Electricity swaps and options (c) Competitive business operating revenues $8 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights Purchased power expense (b) $139 (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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) There were no gains (losses) recognized in accumulated other comprehensive income from electricity swaps and options. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. 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 and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third-party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on a quarterly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares p |
Decommissioning Trust Funds
Decommissioning Trust Funds | 12 Months Ended |
Dec. 31, 2019 | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Indian Point 1, Indian Point 2, Indian Point 3, and Palisades. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this ASU using a modified retrospective method, and Entergy recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by $633 million as of January 1, 2018, for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. Beginning in 2018, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/(losses) will continue to be recorded in other regulatory liabilities/assets. As discussed in Note 14 to the financial statements, in January 2019, Entergy completed the transfer of the Vermont Yankee plant to NorthStar. As part of the transaction, Entergy transferred the Vermont Yankee decommissioning trust fund to NorthStar. As of December 31, 2018, the fair value of the decommissioning trust fund was $532 million . As discussed in Note 14 to the financial statements, in August 2019, Entergy completed the transfer of the Pilgrim plant to Holtec. As part of the transaction, Entergy transferred the Pilgrim decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $1,030 million . Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $640 million . 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 debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities (a) $2,456 $96 $6 2018 Debt Securities (a) $2,495 $19 $35 (a) Debt securities presented herein do not include the $507 million and $389 million of debt securities held in the wholly-owned registered investment company as of December 31, 2019 and 2018 , respectively, which are not accounted for as available-for-sale. The unrealized gains/(losses) above are reported before deferred taxes of $13 million as of December 31, 2019 and ($1) million as of December 31, 2018 for debt securities. The amortized cost of available-for-sale debt securities was $2,366 million as of December 31, 2019 and $2,511 million as of December 31, 2018 . As of December 31, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.27% , an average duration of approximately 6.62 years, and an average maturity of approximately 10.42 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $404 $5 More than 12 months 38 1 Total $442 $6 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $652 $9 More than 12 months 782 26 Total $1,434 $35 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $128 $199 1 year - 5 years 807 1,066 5 years - 10 years 666 544 10 years - 15 years 125 77 15 years - 20 years 126 78 20 years+ 604 531 Total $2,456 $2,495 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $1,427 million , $2,406 million , and $3,163 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $25 million , $7 million , and $149 million , respectively, and gross losses of $4 million , $47 million , and $13 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2019 are $556 million for Indian Point 1, $701 million for Indian Point 2, $930 million for Indian Point 3, and $498 million for Palisades. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2018 are $471 million for Indian Point 1, $598 million for Indian Point 2, $781 million for Indian Point 3, $444 million for Palisades, $1,028 million for Pilgrim, and $532 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $412.8 $9.9 $2.6 2018 Debt Securities $381.3 $0.6 $8.2 The amortized cost of available-for-sale debt securities was $405.4 million as of December 31, 2019 and $389 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 2.79% , an average duration of approximately 6.83 years, and an average maturity of approximately 8.81 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $147.7 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $104.8 $2.5 More than 12 months 7.7 0.1 Total $112.5 $2.6 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $65.8 $0.5 More than 12 months 231.1 7.7 Total $296.9 $8.2 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $44.1 $32.5 1 year - 5 years 109.1 170.3 5 years - 10 years 156.0 114.0 10 years - 15 years 31.3 10.3 15 years - 20 years 23.8 8.1 20 years+ 48.5 46.1 Total $412.8 $381.3 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $110.6 million , $82.1 million , and $339.4 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $2.9 million , $0.1 million , and $17.7 million , respectively, and gross losses of $0.1 million , $2.9 million , and $0.6 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $601.5 $29.3 $0.8 2018 Debt Securities $532.9 $4.1 $6.0 The amortized cost of available-for-sale debt securities was $573 million as of December 31, 2019 and $534.8 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.82% , an average duration of approximately 6.80 years, and an average maturity of approximately 13.26 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $208.1 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $71.2 $0.8 More than 12 months 7.9 — Total $79.1 $0.8 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $170.1 $2.1 More than 12 months 145.8 3.9 Total $315.9 $6.0 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $40.7 $31.1 1 year - 5 years 142.0 130.5 5 years - 10 years 132.4 111.0 10 years - 15 years 39.8 29.0 15 years - 20 years 49.2 37.1 20 years+ 197.4 194.2 Total $601.5 $532.9 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $186 million , $401.7 million , and $231.3 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $4.8 million , $2.1 million , and $12 million , respectively, and gross losses of $0.3 million , $7.5 million , and $0.4 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $386.2 $15.1 $0.3 2018 Debt Securities $364.2 $2.9 $5.8 The amortized cost of available-for-sale debt securities was $371.4 million as of December 31, 2019 and $367.1 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.12% , an average duration of approximately 6.75 years, and an average maturity of approximately 10.41 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $140.5 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $56.9 $0.3 More than 12 months 0.3 — Total $57.2 $0.3 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $89.7 $2.4 More than 12 months 79.8 3.4 Total $169.5 $5.8 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $8.5 $22.8 1 year - 5 years 154.6 188.0 5 years - 10 years 92.3 73.4 10 years - 15 years 13.4 5.2 15 years - 20 years 14.4 10.2 20 years+ 103.0 64.6 Total $386.2 $364.2 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $338.1 million , $361.9 million , and $565.4 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $5.4 million , $0.5 million , and $1.4 million , respectively, and gross losses of $0.7 million , $6.1 million , and $3.3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt 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, 2019 , 2018 , and 2017 |
Entergy Arkansas [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Indian Point 1, Indian Point 2, Indian Point 3, and Palisades. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this ASU using a modified retrospective method, and Entergy recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by $633 million as of January 1, 2018, for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. Beginning in 2018, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/(losses) will continue to be recorded in other regulatory liabilities/assets. As discussed in Note 14 to the financial statements, in January 2019, Entergy completed the transfer of the Vermont Yankee plant to NorthStar. As part of the transaction, Entergy transferred the Vermont Yankee decommissioning trust fund to NorthStar. As of December 31, 2018, the fair value of the decommissioning trust fund was $532 million . As discussed in Note 14 to the financial statements, in August 2019, Entergy completed the transfer of the Pilgrim plant to Holtec. As part of the transaction, Entergy transferred the Pilgrim decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $1,030 million . Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $640 million . 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 debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities (a) $2,456 $96 $6 2018 Debt Securities (a) $2,495 $19 $35 (a) Debt securities presented herein do not include the $507 million and $389 million of debt securities held in the wholly-owned registered investment company as of December 31, 2019 and 2018 , respectively, which are not accounted for as available-for-sale. The unrealized gains/(losses) above are reported before deferred taxes of $13 million as of December 31, 2019 and ($1) million as of December 31, 2018 for debt securities. The amortized cost of available-for-sale debt securities was $2,366 million as of December 31, 2019 and $2,511 million as of December 31, 2018 . As of December 31, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.27% , an average duration of approximately 6.62 years, and an average maturity of approximately 10.42 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $404 $5 More than 12 months 38 1 Total $442 $6 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $652 $9 More than 12 months 782 26 Total $1,434 $35 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $128 $199 1 year - 5 years 807 1,066 5 years - 10 years 666 544 10 years - 15 years 125 77 15 years - 20 years 126 78 20 years+ 604 531 Total $2,456 $2,495 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $1,427 million , $2,406 million , and $3,163 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $25 million , $7 million , and $149 million , respectively, and gross losses of $4 million , $47 million , and $13 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2019 are $556 million for Indian Point 1, $701 million for Indian Point 2, $930 million for Indian Point 3, and $498 million for Palisades. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2018 are $471 million for Indian Point 1, $598 million for Indian Point 2, $781 million for Indian Point 3, $444 million for Palisades, $1,028 million for Pilgrim, and $532 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $412.8 $9.9 $2.6 2018 Debt Securities $381.3 $0.6 $8.2 The amortized cost of available-for-sale debt securities was $405.4 million as of December 31, 2019 and $389 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 2.79% , an average duration of approximately 6.83 years, and an average maturity of approximately 8.81 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $147.7 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $104.8 $2.5 More than 12 months 7.7 0.1 Total $112.5 $2.6 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $65.8 $0.5 More than 12 months 231.1 7.7 Total $296.9 $8.2 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $44.1 $32.5 1 year - 5 years 109.1 170.3 5 years - 10 years 156.0 114.0 10 years - 15 years 31.3 10.3 15 years - 20 years 23.8 8.1 20 years+ 48.5 46.1 Total $412.8 $381.3 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $110.6 million , $82.1 million , and $339.4 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $2.9 million , $0.1 million , and $17.7 million , respectively, and gross losses of $0.1 million , $2.9 million , and $0.6 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $601.5 $29.3 $0.8 2018 Debt Securities $532.9 $4.1 $6.0 The amortized cost of available-for-sale debt securities was $573 million as of December 31, 2019 and $534.8 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.82% , an average duration of approximately 6.80 years, and an average maturity of approximately 13.26 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $208.1 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $71.2 $0.8 More than 12 months 7.9 — Total $79.1 $0.8 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $170.1 $2.1 More than 12 months 145.8 3.9 Total $315.9 $6.0 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $40.7 $31.1 1 year - 5 years 142.0 130.5 5 years - 10 years 132.4 111.0 10 years - 15 years 39.8 29.0 15 years - 20 years 49.2 37.1 20 years+ 197.4 194.2 Total $601.5 $532.9 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $186 million , $401.7 million , and $231.3 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $4.8 million , $2.1 million , and $12 million , respectively, and gross losses of $0.3 million , $7.5 million , and $0.4 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $386.2 $15.1 $0.3 2018 Debt Securities $364.2 $2.9 $5.8 The amortized cost of available-for-sale debt securities was $371.4 million as of December 31, 2019 and $367.1 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.12% , an average duration of approximately 6.75 years, and an average maturity of approximately 10.41 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $140.5 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $56.9 $0.3 More than 12 months 0.3 — Total $57.2 $0.3 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $89.7 $2.4 More than 12 months 79.8 3.4 Total $169.5 $5.8 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $8.5 $22.8 1 year - 5 years 154.6 188.0 5 years - 10 years 92.3 73.4 10 years - 15 years 13.4 5.2 15 years - 20 years 14.4 10.2 20 years+ 103.0 64.6 Total $386.2 $364.2 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $338.1 million , $361.9 million , and $565.4 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $5.4 million , $0.5 million , and $1.4 million , respectively, and gross losses of $0.7 million , $6.1 million , and $3.3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt 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, 2019 , 2018 , and 2017 |
Entergy Louisiana [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Indian Point 1, Indian Point 2, Indian Point 3, and Palisades. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this ASU using a modified retrospective method, and Entergy recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by $633 million as of January 1, 2018, for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. Beginning in 2018, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/(losses) will continue to be recorded in other regulatory liabilities/assets. As discussed in Note 14 to the financial statements, in January 2019, Entergy completed the transfer of the Vermont Yankee plant to NorthStar. As part of the transaction, Entergy transferred the Vermont Yankee decommissioning trust fund to NorthStar. As of December 31, 2018, the fair value of the decommissioning trust fund was $532 million . As discussed in Note 14 to the financial statements, in August 2019, Entergy completed the transfer of the Pilgrim plant to Holtec. As part of the transaction, Entergy transferred the Pilgrim decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $1,030 million . Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $640 million . 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 debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities (a) $2,456 $96 $6 2018 Debt Securities (a) $2,495 $19 $35 (a) Debt securities presented herein do not include the $507 million and $389 million of debt securities held in the wholly-owned registered investment company as of December 31, 2019 and 2018 , respectively, which are not accounted for as available-for-sale. The unrealized gains/(losses) above are reported before deferred taxes of $13 million as of December 31, 2019 and ($1) million as of December 31, 2018 for debt securities. The amortized cost of available-for-sale debt securities was $2,366 million as of December 31, 2019 and $2,511 million as of December 31, 2018 . As of December 31, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.27% , an average duration of approximately 6.62 years, and an average maturity of approximately 10.42 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $404 $5 More than 12 months 38 1 Total $442 $6 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $652 $9 More than 12 months 782 26 Total $1,434 $35 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $128 $199 1 year - 5 years 807 1,066 5 years - 10 years 666 544 10 years - 15 years 125 77 15 years - 20 years 126 78 20 years+ 604 531 Total $2,456 $2,495 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $1,427 million , $2,406 million , and $3,163 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $25 million , $7 million , and $149 million , respectively, and gross losses of $4 million , $47 million , and $13 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2019 are $556 million for Indian Point 1, $701 million for Indian Point 2, $930 million for Indian Point 3, and $498 million for Palisades. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2018 are $471 million for Indian Point 1, $598 million for Indian Point 2, $781 million for Indian Point 3, $444 million for Palisades, $1,028 million for Pilgrim, and $532 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $412.8 $9.9 $2.6 2018 Debt Securities $381.3 $0.6 $8.2 The amortized cost of available-for-sale debt securities was $405.4 million as of December 31, 2019 and $389 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 2.79% , an average duration of approximately 6.83 years, and an average maturity of approximately 8.81 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $147.7 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $104.8 $2.5 More than 12 months 7.7 0.1 Total $112.5 $2.6 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $65.8 $0.5 More than 12 months 231.1 7.7 Total $296.9 $8.2 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $44.1 $32.5 1 year - 5 years 109.1 170.3 5 years - 10 years 156.0 114.0 10 years - 15 years 31.3 10.3 15 years - 20 years 23.8 8.1 20 years+ 48.5 46.1 Total $412.8 $381.3 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $110.6 million , $82.1 million , and $339.4 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $2.9 million , $0.1 million , and $17.7 million , respectively, and gross losses of $0.1 million , $2.9 million , and $0.6 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $601.5 $29.3 $0.8 2018 Debt Securities $532.9 $4.1 $6.0 The amortized cost of available-for-sale debt securities was $573 million as of December 31, 2019 and $534.8 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.82% , an average duration of approximately 6.80 years, and an average maturity of approximately 13.26 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $208.1 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $71.2 $0.8 More than 12 months 7.9 — Total $79.1 $0.8 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $170.1 $2.1 More than 12 months 145.8 3.9 Total $315.9 $6.0 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $40.7 $31.1 1 year - 5 years 142.0 130.5 5 years - 10 years 132.4 111.0 10 years - 15 years 39.8 29.0 15 years - 20 years 49.2 37.1 20 years+ 197.4 194.2 Total $601.5 $532.9 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $186 million , $401.7 million , and $231.3 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $4.8 million , $2.1 million , and $12 million , respectively, and gross losses of $0.3 million , $7.5 million , and $0.4 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $386.2 $15.1 $0.3 2018 Debt Securities $364.2 $2.9 $5.8 The amortized cost of available-for-sale debt securities was $371.4 million as of December 31, 2019 and $367.1 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.12% , an average duration of approximately 6.75 years, and an average maturity of approximately 10.41 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $140.5 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $56.9 $0.3 More than 12 months 0.3 — Total $57.2 $0.3 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $89.7 $2.4 More than 12 months 79.8 3.4 Total $169.5 $5.8 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $8.5 $22.8 1 year - 5 years 154.6 188.0 5 years - 10 years 92.3 73.4 10 years - 15 years 13.4 5.2 15 years - 20 years 14.4 10.2 20 years+ 103.0 64.6 Total $386.2 $364.2 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $338.1 million , $361.9 million , and $565.4 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $5.4 million , $0.5 million , and $1.4 million , respectively, and gross losses of $0.7 million , $6.1 million , and $3.3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt 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, 2019 , 2018 , and 2017 |
System Energy [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Indian Point 1, Indian Point 2, Indian Point 3, and Palisades. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. Entergy implemented ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” effective January 1, 2018. 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. Entergy implemented this ASU using a modified retrospective method, and Entergy recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by $633 million as of January 1, 2018, for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. Beginning in 2018, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/(losses) will continue to be recorded in other regulatory liabilities/assets. As discussed in Note 14 to the financial statements, in January 2019, Entergy completed the transfer of the Vermont Yankee plant to NorthStar. As part of the transaction, Entergy transferred the Vermont Yankee decommissioning trust fund to NorthStar. As of December 31, 2018, the fair value of the decommissioning trust fund was $532 million . As discussed in Note 14 to the financial statements, in August 2019, Entergy completed the transfer of the Pilgrim plant to Holtec. As part of the transaction, Entergy transferred the Pilgrim decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $1,030 million . Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $640 million . 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 debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities (a) $2,456 $96 $6 2018 Debt Securities (a) $2,495 $19 $35 (a) Debt securities presented herein do not include the $507 million and $389 million of debt securities held in the wholly-owned registered investment company as of December 31, 2019 and 2018 , respectively, which are not accounted for as available-for-sale. The unrealized gains/(losses) above are reported before deferred taxes of $13 million as of December 31, 2019 and ($1) million as of December 31, 2018 for debt securities. The amortized cost of available-for-sale debt securities was $2,366 million as of December 31, 2019 and $2,511 million as of December 31, 2018 . As of December 31, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.27% , an average duration of approximately 6.62 years, and an average maturity of approximately 10.42 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $404 $5 More than 12 months 38 1 Total $442 $6 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $652 $9 More than 12 months 782 26 Total $1,434 $35 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $128 $199 1 year - 5 years 807 1,066 5 years - 10 years 666 544 10 years - 15 years 125 77 15 years - 20 years 126 78 20 years+ 604 531 Total $2,456 $2,495 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $1,427 million , $2,406 million , and $3,163 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $25 million , $7 million , and $149 million , respectively, and gross losses of $4 million , $47 million , and $13 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2019 are $556 million for Indian Point 1, $701 million for Indian Point 2, $930 million for Indian Point 3, and $498 million for Palisades. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2018 are $471 million for Indian Point 1, $598 million for Indian Point 2, $781 million for Indian Point 3, $444 million for Palisades, $1,028 million for Pilgrim, and $532 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $412.8 $9.9 $2.6 2018 Debt Securities $381.3 $0.6 $8.2 The amortized cost of available-for-sale debt securities was $405.4 million as of December 31, 2019 and $389 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 2.79% , an average duration of approximately 6.83 years, and an average maturity of approximately 8.81 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $147.7 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $104.8 $2.5 More than 12 months 7.7 0.1 Total $112.5 $2.6 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $65.8 $0.5 More than 12 months 231.1 7.7 Total $296.9 $8.2 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $44.1 $32.5 1 year - 5 years 109.1 170.3 5 years - 10 years 156.0 114.0 10 years - 15 years 31.3 10.3 15 years - 20 years 23.8 8.1 20 years+ 48.5 46.1 Total $412.8 $381.3 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $110.6 million , $82.1 million , and $339.4 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $2.9 million , $0.1 million , and $17.7 million , respectively, and gross losses of $0.1 million , $2.9 million , and $0.6 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $601.5 $29.3 $0.8 2018 Debt Securities $532.9 $4.1 $6.0 The amortized cost of available-for-sale debt securities was $573 million as of December 31, 2019 and $534.8 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.82% , an average duration of approximately 6.80 years, and an average maturity of approximately 13.26 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $208.1 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $71.2 $0.8 More than 12 months 7.9 — Total $79.1 $0.8 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $170.1 $2.1 More than 12 months 145.8 3.9 Total $315.9 $6.0 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $40.7 $31.1 1 year - 5 years 142.0 130.5 5 years - 10 years 132.4 111.0 10 years - 15 years 39.8 29.0 15 years - 20 years 49.2 37.1 20 years+ 197.4 194.2 Total $601.5 $532.9 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $186 million , $401.7 million , and $231.3 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $4.8 million , $2.1 million , and $12 million , respectively, and gross losses of $0.3 million , $7.5 million , and $0.4 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $386.2 $15.1 $0.3 2018 Debt Securities $364.2 $2.9 $5.8 The amortized cost of available-for-sale debt securities was $371.4 million as of December 31, 2019 and $367.1 million as of December 31, 2018 . As of December 31, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.12% , an average duration of approximately 6.75 years, and an average maturity of approximately 10.41 years. The unrealized gains/(losses) recognized during the year ended December 31, 2019 on equity securities still held as of December 31, 2019 were $140.5 million . 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 debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $56.9 $0.3 More than 12 months 0.3 — Total $57.2 $0.3 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $89.7 $2.4 More than 12 months 79.8 3.4 Total $169.5 $5.8 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $8.5 $22.8 1 year - 5 years 154.6 188.0 5 years - 10 years 92.3 73.4 10 years - 15 years 13.4 5.2 15 years - 20 years 14.4 10.2 20 years+ 103.0 64.6 Total $386.2 $364.2 During the years ended December 31, 2019 , 2018 , and 2017 , proceeds from the dispositions of available-for-sale securities amounted to $338.1 million , $361.9 million , and $565.4 million , respectively. During the years ended December 31, 2019 , 2018 , and 2017 , gross gains of $5.4 million , $0.5 million , and $1.4 million , respectively, and gross losses of $0.7 million , $6.1 million , and $3.3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt 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, 2019 , 2018 , and 2017 |
Variable Interest Entities
Variable Interest Entities | 12 Months Ended |
Dec. 31, 2019 | |
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. 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 2019, $17.2 million in 2018, and $17.2 million in 2017. 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 it 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 System Energy accounts for this leasing arrangement as a capital financing, however, System Energy 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. System Energy believes, however, that the obligations recorded on the balance sheet materially represent its 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. 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 2019, $17.2 million in 2018, and $17.2 million in 2017. 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 it 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 System Energy accounts for this leasing arrangement as a capital financing, however, System Energy 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. System Energy believes, however, that the obligations recorded on the balance sheet materially represent its 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. 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 2019, $17.2 million in 2018, and $17.2 million in 2017. 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 it 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 System Energy accounts for this leasing arrangement as a capital financing, however, System Energy 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. System Energy believes, however, that the obligations recorded on the balance sheet materially represent its 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. 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 2019, $17.2 million in 2018, and $17.2 million in 2017. 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 it 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 System Energy accounts for this leasing arrangement as a capital financing, however, System Energy 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. System Energy believes, however, that the obligations recorded on the balance sheet materially represent its 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. 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 2019, $17.2 million in 2018, and $17.2 million in 2017. 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 it 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 System Energy accounts for this leasing arrangement as a capital financing, however, System Energy 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. System Energy believes, however, that the obligations recorded on the balance sheet materially represent its 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. 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 2019, $17.2 million in 2018, and $17.2 million in 2017. 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 it 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 System Energy accounts for this leasing arrangement as a capital financing, however, System Energy 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. System Energy believes, however, that the obligations recorded on the balance sheet materially represent its 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. 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 2019, $17.2 million in 2018, and $17.2 million in 2017. 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 it 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 System Energy accounts for this leasing arrangement as a capital financing, however, System Energy 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. System Energy believes, however, that the obligations recorded on the balance sheet materially represent its 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, 2019 | |
Entergy Arkansas [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with the FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 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 $24.5 million in 2019 , $24 million in 2018 , and $24.6 million in 2017 . Entergy’s operating transactions with its other equity method investees were not significant in 2019 , 2018 , or 2017 . |
Entergy Louisiana [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with the FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 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 $24.5 million in 2019 , $24 million in 2018 , and $24.6 million in 2017 . Entergy’s operating transactions with its other equity method investees were not significant in 2019 , 2018 , or 2017 . |
Entergy Mississippi [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with the FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 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 $24.5 million in 2019 , $24 million in 2018 , and $24.6 million in 2017 . Entergy’s operating transactions with its other equity method investees were not significant in 2019 , 2018 , or 2017 . |
Entergy New Orleans [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with the FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 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 $24.5 million in 2019 , $24 million in 2018 , and $24.6 million in 2017 . Entergy’s operating transactions with its other equity method investees were not significant in 2019 , 2018 , or 2017 . |
Entergy Texas [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with the FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 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 $24.5 million in 2019 , $24 million in 2018 , and $24.6 million in 2017 . Entergy’s operating transactions with its other equity method investees were not significant in 2019 , 2018 , or 2017 . |
System Energy [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with the FERC. The Registrant Subsidiaries receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations. These transactions are on an “at cost” basis. As described in Note 1 to the financial statements, all of System Energy’s operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. As described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy’s money pool and earn interest income from the money pool. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 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 $24.5 million in 2019 , $24 million in 2018 , and $24.6 million in 2017 . Entergy’s operating transactions with its other equity method investees were not significant in 2019 , 2018 , or 2017 . |
Revenue Recognition Revenue Rec
Revenue Recognition Revenue Recognition | 12 Months Ended |
Dec. 31, 2019 | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” effective January 1, 2018. Topic 606 requires entities to “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. This accounting was applied to all contracts using the modified retrospective method, which requires an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date. Because the standard did not result in any material change in Entergy’s revenue recognition no adjustment to retained earnings was required upon implementation. Similarly, there was no effect on revenues recognized under Topic 606 for the year ended December 31, 2018. Revenues from electric service and the sale of natural gas are recognized when services are transferred to the customer in an amount equal to what Entergy has the right to bill the customer because this amount represents the value of services provided to customers. Entergy’s total revenues for the years ended December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $3,531,500 $3,565,522 Commercial 2,475,586 2,426,477 Industrial 2,541,287 2,499,227 Governmental 228,470 225,882 Total billed retail 8,776,843 8,717,108 Sales for resale (a) 285,722 299,567 Other electric revenues (b) 343,143 326,910 Revenues from contracts with customers 9,405,708 9,343,585 Other revenues (c) 24,270 40,526 Total electric revenues 9,429,978 9,384,111 Natural gas 153,954 156,436 Entergy Wholesale Commodities: Competitive businesses sales from contracts with customers (a) 1,164,552 1,547,994 Other revenues (c) 130,189 (79,089 ) Total competitive businesses revenues 1,294,741 1,468,905 Total operating revenues $10,878,673 $11,009,452 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Other revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. Electric Revenues Entergy’s primary source of revenue is from retail electric sales sold under tariff rates approved by regulators in its various jurisdictions. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy’s Utility operating companies provide power to customers on demand throughout the month, measured by a meter located at the customer’s property. Approved rates vary by customer class due to differing requirements of the customers and market factors involved in fulfilling those requirements. Entergy issues monthly bills to customers at rates approved by regulators for power and related services provided during the previous billing cycle. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies record an estimate 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 market prices of power in the respective jurisdiction. The inputs are revised as needed to approximate actual usage and cost. Each month, estimated unbilled amounts are recorded as unbilled revenue and accounts receivable, and the prior month’s estimate is reversed. Price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the other. Entergy may record revenue based on rates that are subject to refund. Such revenues are reduced by estimated refund amounts when Entergy believes refunds are probable based on the status of rate proceedings as of the date financial statements are prepared. Because these refunds will be made through a reduction in future rates, and not as a reduction in bills previously issued, they are presented as other revenues in the table above. System Energy’s only source of revenue is the sale of electric power and capacity generated from its 90% interest in the Grand Gulf nuclear plant to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. System Energy issues monthly bills to its affiliated customers equal to its actual operating costs plus a return on common equity approved by the FERC. Entergy’s Utility operating companies also sell excess power not needed for its own customers, primarily through transactions with 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. MISO settles these offers and bids based on locational marginal prices. These represent 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 each market participant’s energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Natural Gas Entergy Louisiana and Entergy New Orleans also distribute natural gas to retail customers in and around Baton Rouge, Louisiana, and New Orleans, Louisiana, respectively. Gas transferred to customers is measured by a meter at the customer’s property. Entergy issues monthly invoices to customers at rates approved by regulators for the volume of gas transferred to date. Competitive Businesses Revenues The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power and capacity produced by its operating plants to wholesale customers. The majority of Entergy Wholesale Commodities’ revenues are from Entergy’s nuclear power plants located in the northern United States. Entergy issues monthly invoices to the counterparties for these electric sales at the respective contracted or ISO market rate of electricity and related services provided during the previous month. Most of the Palisades nuclear plant output is sold under a 15-year PPA with Consumers Energy, executed as part of the acquisition of the plant in 2007 and expiring in 2022. 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. Entergy issues monthly invoices to Consumers Energy for electric sales based on the actual output of electricity and related services provided during the previous month at the contract price. The PPA was at below-market prices at the time of the acquisition and Entergy amortizes a liability to revenue over the life of the agreement. The amount 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 $10 million in 2019 , $6 million in 2018 , and $28 million in 2017 . Amounts to be amortized to revenue through the remaining life of the agreement will be approximately $11 million in 2020, $12 million in 2021, and $5 million in 2022. Practical Expedients and Exceptions Entergy has elected not to disclose the value of unsatisfied performance obligations for contracts with an original expected term of one year or less, or for revenue recognized in an amount equal to what Entergy has the right to bill the customer for services performed. Most of Entergy’s contracts, except in a few cases where there are defined minimums or stated terms, are on demand. This results in customer bills that vary each month based on an approved tariff and usage. Entergy imposes monthly or annual minimum requirements on some customers primarily as credit and cost recovery guarantees and not as pricing for unsatisfied performance obligations. These minimums typically expire after the initial term or when specified costs have been recovered. The minimum amounts are part of each month’s bill and recognized as revenue accordingly. Some of the subsidiaries within the Entergy Wholesale Commodities segment have operations and maintenance services contracts that have fixed components and terms longer than one year. The total fixed consideration related to these unsatisfied performance obligations, however, is not material to Entergy revenues. Recovery of Fuel Costs 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 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 based 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. 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. |
Entergy Arkansas [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” effective January 1, 2018. Topic 606 requires entities to “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. This accounting was applied to all contracts using the modified retrospective method, which requires an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date. Because the standard did not result in any material change in Entergy’s revenue recognition no adjustment to retained earnings was required upon implementation. Similarly, there was no effect on revenues recognized under Topic 606 for the year ended December 31, 2018. Revenues from electric service and the sale of natural gas are recognized when services are transferred to the customer in an amount equal to what Entergy has the right to bill the customer because this amount represents the value of services provided to customers. Entergy’s total revenues for the years ended December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $3,531,500 $3,565,522 Commercial 2,475,586 2,426,477 Industrial 2,541,287 2,499,227 Governmental 228,470 225,882 Total billed retail 8,776,843 8,717,108 Sales for resale (a) 285,722 299,567 Other electric revenues (b) 343,143 326,910 Revenues from contracts with customers 9,405,708 9,343,585 Other revenues (c) 24,270 40,526 Total electric revenues 9,429,978 9,384,111 Natural gas 153,954 156,436 Entergy Wholesale Commodities: Competitive businesses sales from contracts with customers (a) 1,164,552 1,547,994 Other revenues (c) 130,189 (79,089 ) Total competitive businesses revenues 1,294,741 1,468,905 Total operating revenues $10,878,673 $11,009,452 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Other revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. Electric Revenues Entergy’s primary source of revenue is from retail electric sales sold under tariff rates approved by regulators in its various jurisdictions. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy’s Utility operating companies provide power to customers on demand throughout the month, measured by a meter located at the customer’s property. Approved rates vary by customer class due to differing requirements of the customers and market factors involved in fulfilling those requirements. Entergy issues monthly bills to customers at rates approved by regulators for power and related services provided during the previous billing cycle. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies record an estimate 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 market prices of power in the respective jurisdiction. The inputs are revised as needed to approximate actual usage and cost. Each month, estimated unbilled amounts are recorded as unbilled revenue and accounts receivable, and the prior month’s estimate is reversed. Price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the other. Entergy may record revenue based on rates that are subject to refund. Such revenues are reduced by estimated refund amounts when Entergy believes refunds are probable based on the status of rate proceedings as of the date financial statements are prepared. Because these refunds will be made through a reduction in future rates, and not as a reduction in bills previously issued, they are presented as other revenues in the table above. System Energy’s only source of revenue is the sale of electric power and capacity generated from its 90% interest in the Grand Gulf nuclear plant to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. System Energy issues monthly bills to its affiliated customers equal to its actual operating costs plus a return on common equity approved by the FERC. Entergy’s Utility operating companies also sell excess power not needed for its own customers, primarily through transactions with 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. MISO settles these offers and bids based on locational marginal prices. These represent 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 each market participant’s energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Natural Gas Entergy Louisiana and Entergy New Orleans also distribute natural gas to retail customers in and around Baton Rouge, Louisiana, and New Orleans, Louisiana, respectively. Gas transferred to customers is measured by a meter at the customer’s property. Entergy issues monthly invoices to customers at rates approved by regulators for the volume of gas transferred to date. Competitive Businesses Revenues The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power and capacity produced by its operating plants to wholesale customers. The majority of Entergy Wholesale Commodities’ revenues are from Entergy’s nuclear power plants located in the northern United States. Entergy issues monthly invoices to the counterparties for these electric sales at the respective contracted or ISO market rate of electricity and related services provided during the previous month. Most of the Palisades nuclear plant output is sold under a 15-year PPA with Consumers Energy, executed as part of the acquisition of the plant in 2007 and expiring in 2022. 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. Entergy issues monthly invoices to Consumers Energy for electric sales based on the actual output of electricity and related services provided during the previous month at the contract price. The PPA was at below-market prices at the time of the acquisition and Entergy amortizes a liability to revenue over the life of the agreement. The amount 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 $10 million in 2019 , $6 million in 2018 , and $28 million in 2017 . Amounts to be amortized to revenue through the remaining life of the agreement will be approximately $11 million in 2020, $12 million in 2021, and $5 million in 2022. Practical Expedients and Exceptions Entergy has elected not to disclose the value of unsatisfied performance obligations for contracts with an original expected term of one year or less, or for revenue recognized in an amount equal to what Entergy has the right to bill the customer for services performed. Most of Entergy’s contracts, except in a few cases where there are defined minimums or stated terms, are on demand. This results in customer bills that vary each month based on an approved tariff and usage. Entergy imposes monthly or annual minimum requirements on some customers primarily as credit and cost recovery guarantees and not as pricing for unsatisfied performance obligations. These minimums typically expire after the initial term or when specified costs have been recovered. The minimum amounts are part of each month’s bill and recognized as revenue accordingly. Some of the subsidiaries within the Entergy Wholesale Commodities segment have operations and maintenance services contracts that have fixed components and terms longer than one year. The total fixed consideration related to these unsatisfied performance obligations, however, is not material to Entergy revenues. Recovery of Fuel Costs 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 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 based 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. 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. |
Entergy Louisiana [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” effective January 1, 2018. Topic 606 requires entities to “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. This accounting was applied to all contracts using the modified retrospective method, which requires an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date. Because the standard did not result in any material change in Entergy’s revenue recognition no adjustment to retained earnings was required upon implementation. Similarly, there was no effect on revenues recognized under Topic 606 for the year ended December 31, 2018. Revenues from electric service and the sale of natural gas are recognized when services are transferred to the customer in an amount equal to what Entergy has the right to bill the customer because this amount represents the value of services provided to customers. Entergy’s total revenues for the years ended December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $3,531,500 $3,565,522 Commercial 2,475,586 2,426,477 Industrial 2,541,287 2,499,227 Governmental 228,470 225,882 Total billed retail 8,776,843 8,717,108 Sales for resale (a) 285,722 299,567 Other electric revenues (b) 343,143 326,910 Revenues from contracts with customers 9,405,708 9,343,585 Other revenues (c) 24,270 40,526 Total electric revenues 9,429,978 9,384,111 Natural gas 153,954 156,436 Entergy Wholesale Commodities: Competitive businesses sales from contracts with customers (a) 1,164,552 1,547,994 Other revenues (c) 130,189 (79,089 ) Total competitive businesses revenues 1,294,741 1,468,905 Total operating revenues $10,878,673 $11,009,452 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Other revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. Electric Revenues Entergy’s primary source of revenue is from retail electric sales sold under tariff rates approved by regulators in its various jurisdictions. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy’s Utility operating companies provide power to customers on demand throughout the month, measured by a meter located at the customer’s property. Approved rates vary by customer class due to differing requirements of the customers and market factors involved in fulfilling those requirements. Entergy issues monthly bills to customers at rates approved by regulators for power and related services provided during the previous billing cycle. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies record an estimate 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 market prices of power in the respective jurisdiction. The inputs are revised as needed to approximate actual usage and cost. Each month, estimated unbilled amounts are recorded as unbilled revenue and accounts receivable, and the prior month’s estimate is reversed. Price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the other. Entergy may record revenue based on rates that are subject to refund. Such revenues are reduced by estimated refund amounts when Entergy believes refunds are probable based on the status of rate proceedings as of the date financial statements are prepared. Because these refunds will be made through a reduction in future rates, and not as a reduction in bills previously issued, they are presented as other revenues in the table above. System Energy’s only source of revenue is the sale of electric power and capacity generated from its 90% interest in the Grand Gulf nuclear plant to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. System Energy issues monthly bills to its affiliated customers equal to its actual operating costs plus a return on common equity approved by the FERC. Entergy’s Utility operating companies also sell excess power not needed for its own customers, primarily through transactions with 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. MISO settles these offers and bids based on locational marginal prices. These represent 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 each market participant’s energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Natural Gas Entergy Louisiana and Entergy New Orleans also distribute natural gas to retail customers in and around Baton Rouge, Louisiana, and New Orleans, Louisiana, respectively. Gas transferred to customers is measured by a meter at the customer’s property. Entergy issues monthly invoices to customers at rates approved by regulators for the volume of gas transferred to date. Competitive Businesses Revenues The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power and capacity produced by its operating plants to wholesale customers. The majority of Entergy Wholesale Commodities’ revenues are from Entergy’s nuclear power plants located in the northern United States. Entergy issues monthly invoices to the counterparties for these electric sales at the respective contracted or ISO market rate of electricity and related services provided during the previous month. Most of the Palisades nuclear plant output is sold under a 15-year PPA with Consumers Energy, executed as part of the acquisition of the plant in 2007 and expiring in 2022. 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. Entergy issues monthly invoices to Consumers Energy for electric sales based on the actual output of electricity and related services provided during the previous month at the contract price. The PPA was at below-market prices at the time of the acquisition and Entergy amortizes a liability to revenue over the life of the agreement. The amount 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 $10 million in 2019 , $6 million in 2018 , and $28 million in 2017 . Amounts to be amortized to revenue through the remaining life of the agreement will be approximately $11 million in 2020, $12 million in 2021, and $5 million in 2022. Practical Expedients and Exceptions Entergy has elected not to disclose the value of unsatisfied performance obligations for contracts with an original expected term of one year or less, or for revenue recognized in an amount equal to what Entergy has the right to bill the customer for services performed. Most of Entergy’s contracts, except in a few cases where there are defined minimums or stated terms, are on demand. This results in customer bills that vary each month based on an approved tariff and usage. Entergy imposes monthly or annual minimum requirements on some customers primarily as credit and cost recovery guarantees and not as pricing for unsatisfied performance obligations. These minimums typically expire after the initial term or when specified costs have been recovered. The minimum amounts are part of each month’s bill and recognized as revenue accordingly. Some of the subsidiaries within the Entergy Wholesale Commodities segment have operations and maintenance services contracts that have fixed components and terms longer than one year. The total fixed consideration related to these unsatisfied performance obligations, however, is not material to Entergy revenues. Recovery of Fuel Costs 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 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 based 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. 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. |
Entergy Mississippi [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” effective January 1, 2018. Topic 606 requires entities to “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. This accounting was applied to all contracts using the modified retrospective method, which requires an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date. Because the standard did not result in any material change in Entergy’s revenue recognition no adjustment to retained earnings was required upon implementation. Similarly, there was no effect on revenues recognized under Topic 606 for the year ended December 31, 2018. Revenues from electric service and the sale of natural gas are recognized when services are transferred to the customer in an amount equal to what Entergy has the right to bill the customer because this amount represents the value of services provided to customers. Entergy’s total revenues for the years ended December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $3,531,500 $3,565,522 Commercial 2,475,586 2,426,477 Industrial 2,541,287 2,499,227 Governmental 228,470 225,882 Total billed retail 8,776,843 8,717,108 Sales for resale (a) 285,722 299,567 Other electric revenues (b) 343,143 326,910 Revenues from contracts with customers 9,405,708 9,343,585 Other revenues (c) 24,270 40,526 Total electric revenues 9,429,978 9,384,111 Natural gas 153,954 156,436 Entergy Wholesale Commodities: Competitive businesses sales from contracts with customers (a) 1,164,552 1,547,994 Other revenues (c) 130,189 (79,089 ) Total competitive businesses revenues 1,294,741 1,468,905 Total operating revenues $10,878,673 $11,009,452 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Other revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. Electric Revenues Entergy’s primary source of revenue is from retail electric sales sold under tariff rates approved by regulators in its various jurisdictions. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy’s Utility operating companies provide power to customers on demand throughout the month, measured by a meter located at the customer’s property. Approved rates vary by customer class due to differing requirements of the customers and market factors involved in fulfilling those requirements. Entergy issues monthly bills to customers at rates approved by regulators for power and related services provided during the previous billing cycle. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies record an estimate 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 market prices of power in the respective jurisdiction. The inputs are revised as needed to approximate actual usage and cost. Each month, estimated unbilled amounts are recorded as unbilled revenue and accounts receivable, and the prior month’s estimate is reversed. Price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the other. Entergy may record revenue based on rates that are subject to refund. Such revenues are reduced by estimated refund amounts when Entergy believes refunds are probable based on the status of rate proceedings as of the date financial statements are prepared. Because these refunds will be made through a reduction in future rates, and not as a reduction in bills previously issued, they are presented as other revenues in the table above. System Energy’s only source of revenue is the sale of electric power and capacity generated from its 90% interest in the Grand Gulf nuclear plant to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. System Energy issues monthly bills to its affiliated customers equal to its actual operating costs plus a return on common equity approved by the FERC. Entergy’s Utility operating companies also sell excess power not needed for its own customers, primarily through transactions with 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. MISO settles these offers and bids based on locational marginal prices. These represent 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 each market participant’s energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Natural Gas Entergy Louisiana and Entergy New Orleans also distribute natural gas to retail customers in and around Baton Rouge, Louisiana, and New Orleans, Louisiana, respectively. Gas transferred to customers is measured by a meter at the customer’s property. Entergy issues monthly invoices to customers at rates approved by regulators for the volume of gas transferred to date. Competitive Businesses Revenues The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power and capacity produced by its operating plants to wholesale customers. The majority of Entergy Wholesale Commodities’ revenues are from Entergy’s nuclear power plants located in the northern United States. Entergy issues monthly invoices to the counterparties for these electric sales at the respective contracted or ISO market rate of electricity and related services provided during the previous month. Most of the Palisades nuclear plant output is sold under a 15-year PPA with Consumers Energy, executed as part of the acquisition of the plant in 2007 and expiring in 2022. 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. Entergy issues monthly invoices to Consumers Energy for electric sales based on the actual output of electricity and related services provided during the previous month at the contract price. The PPA was at below-market prices at the time of the acquisition and Entergy amortizes a liability to revenue over the life of the agreement. The amount 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 $10 million in 2019 , $6 million in 2018 , and $28 million in 2017 . Amounts to be amortized to revenue through the remaining life of the agreement will be approximately $11 million in 2020, $12 million in 2021, and $5 million in 2022. Practical Expedients and Exceptions Entergy has elected not to disclose the value of unsatisfied performance obligations for contracts with an original expected term of one year or less, or for revenue recognized in an amount equal to what Entergy has the right to bill the customer for services performed. Most of Entergy’s contracts, except in a few cases where there are defined minimums or stated terms, are on demand. This results in customer bills that vary each month based on an approved tariff and usage. Entergy imposes monthly or annual minimum requirements on some customers primarily as credit and cost recovery guarantees and not as pricing for unsatisfied performance obligations. These minimums typically expire after the initial term or when specified costs have been recovered. The minimum amounts are part of each month’s bill and recognized as revenue accordingly. Some of the subsidiaries within the Entergy Wholesale Commodities segment have operations and maintenance services contracts that have fixed components and terms longer than one year. The total fixed consideration related to these unsatisfied performance obligations, however, is not material to Entergy revenues. Recovery of Fuel Costs 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 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 based 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. 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. |
Entergy New Orleans [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” effective January 1, 2018. Topic 606 requires entities to “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. This accounting was applied to all contracts using the modified retrospective method, which requires an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date. Because the standard did not result in any material change in Entergy’s revenue recognition no adjustment to retained earnings was required upon implementation. Similarly, there was no effect on revenues recognized under Topic 606 for the year ended December 31, 2018. Revenues from electric service and the sale of natural gas are recognized when services are transferred to the customer in an amount equal to what Entergy has the right to bill the customer because this amount represents the value of services provided to customers. Entergy’s total revenues for the years ended December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $3,531,500 $3,565,522 Commercial 2,475,586 2,426,477 Industrial 2,541,287 2,499,227 Governmental 228,470 225,882 Total billed retail 8,776,843 8,717,108 Sales for resale (a) 285,722 299,567 Other electric revenues (b) 343,143 326,910 Revenues from contracts with customers 9,405,708 9,343,585 Other revenues (c) 24,270 40,526 Total electric revenues 9,429,978 9,384,111 Natural gas 153,954 156,436 Entergy Wholesale Commodities: Competitive businesses sales from contracts with customers (a) 1,164,552 1,547,994 Other revenues (c) 130,189 (79,089 ) Total competitive businesses revenues 1,294,741 1,468,905 Total operating revenues $10,878,673 $11,009,452 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Other revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. Electric Revenues Entergy’s primary source of revenue is from retail electric sales sold under tariff rates approved by regulators in its various jurisdictions. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy’s Utility operating companies provide power to customers on demand throughout the month, measured by a meter located at the customer’s property. Approved rates vary by customer class due to differing requirements of the customers and market factors involved in fulfilling those requirements. Entergy issues monthly bills to customers at rates approved by regulators for power and related services provided during the previous billing cycle. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies record an estimate 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 market prices of power in the respective jurisdiction. The inputs are revised as needed to approximate actual usage and cost. Each month, estimated unbilled amounts are recorded as unbilled revenue and accounts receivable, and the prior month’s estimate is reversed. Price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the other. Entergy may record revenue based on rates that are subject to refund. Such revenues are reduced by estimated refund amounts when Entergy believes refunds are probable based on the status of rate proceedings as of the date financial statements are prepared. Because these refunds will be made through a reduction in future rates, and not as a reduction in bills previously issued, they are presented as other revenues in the table above. System Energy’s only source of revenue is the sale of electric power and capacity generated from its 90% interest in the Grand Gulf nuclear plant to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. System Energy issues monthly bills to its affiliated customers equal to its actual operating costs plus a return on common equity approved by the FERC. Entergy’s Utility operating companies also sell excess power not needed for its own customers, primarily through transactions with 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. MISO settles these offers and bids based on locational marginal prices. These represent 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 each market participant’s energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Natural Gas Entergy Louisiana and Entergy New Orleans also distribute natural gas to retail customers in and around Baton Rouge, Louisiana, and New Orleans, Louisiana, respectively. Gas transferred to customers is measured by a meter at the customer’s property. Entergy issues monthly invoices to customers at rates approved by regulators for the volume of gas transferred to date. Competitive Businesses Revenues The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power and capacity produced by its operating plants to wholesale customers. The majority of Entergy Wholesale Commodities’ revenues are from Entergy’s nuclear power plants located in the northern United States. Entergy issues monthly invoices to the counterparties for these electric sales at the respective contracted or ISO market rate of electricity and related services provided during the previous month. Most of the Palisades nuclear plant output is sold under a 15-year PPA with Consumers Energy, executed as part of the acquisition of the plant in 2007 and expiring in 2022. 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. Entergy issues monthly invoices to Consumers Energy for electric sales based on the actual output of electricity and related services provided during the previous month at the contract price. The PPA was at below-market prices at the time of the acquisition and Entergy amortizes a liability to revenue over the life of the agreement. The amount 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 $10 million in 2019 , $6 million in 2018 , and $28 million in 2017 . Amounts to be amortized to revenue through the remaining life of the agreement will be approximately $11 million in 2020, $12 million in 2021, and $5 million in 2022. Practical Expedients and Exceptions Entergy has elected not to disclose the value of unsatisfied performance obligations for contracts with an original expected term of one year or less, or for revenue recognized in an amount equal to what Entergy has the right to bill the customer for services performed. Most of Entergy’s contracts, except in a few cases where there are defined minimums or stated terms, are on demand. This results in customer bills that vary each month based on an approved tariff and usage. Entergy imposes monthly or annual minimum requirements on some customers primarily as credit and cost recovery guarantees and not as pricing for unsatisfied performance obligations. These minimums typically expire after the initial term or when specified costs have been recovered. The minimum amounts are part of each month’s bill and recognized as revenue accordingly. Some of the subsidiaries within the Entergy Wholesale Commodities segment have operations and maintenance services contracts that have fixed components and terms longer than one year. The total fixed consideration related to these unsatisfied performance obligations, however, is not material to Entergy revenues. Recovery of Fuel Costs 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 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 based 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. 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. |
Entergy Texas [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” effective January 1, 2018. Topic 606 requires entities to “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. This accounting was applied to all contracts using the modified retrospective method, which requires an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date. Because the standard did not result in any material change in Entergy’s revenue recognition no adjustment to retained earnings was required upon implementation. Similarly, there was no effect on revenues recognized under Topic 606 for the year ended December 31, 2018. Revenues from electric service and the sale of natural gas are recognized when services are transferred to the customer in an amount equal to what Entergy has the right to bill the customer because this amount represents the value of services provided to customers. Entergy’s total revenues for the years ended December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $3,531,500 $3,565,522 Commercial 2,475,586 2,426,477 Industrial 2,541,287 2,499,227 Governmental 228,470 225,882 Total billed retail 8,776,843 8,717,108 Sales for resale (a) 285,722 299,567 Other electric revenues (b) 343,143 326,910 Revenues from contracts with customers 9,405,708 9,343,585 Other revenues (c) 24,270 40,526 Total electric revenues 9,429,978 9,384,111 Natural gas 153,954 156,436 Entergy Wholesale Commodities: Competitive businesses sales from contracts with customers (a) 1,164,552 1,547,994 Other revenues (c) 130,189 (79,089 ) Total competitive businesses revenues 1,294,741 1,468,905 Total operating revenues $10,878,673 $11,009,452 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Other revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. Electric Revenues Entergy’s primary source of revenue is from retail electric sales sold under tariff rates approved by regulators in its various jurisdictions. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy’s Utility operating companies provide power to customers on demand throughout the month, measured by a meter located at the customer’s property. Approved rates vary by customer class due to differing requirements of the customers and market factors involved in fulfilling those requirements. Entergy issues monthly bills to customers at rates approved by regulators for power and related services provided during the previous billing cycle. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies record an estimate 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 market prices of power in the respective jurisdiction. The inputs are revised as needed to approximate actual usage and cost. Each month, estimated unbilled amounts are recorded as unbilled revenue and accounts receivable, and the prior month’s estimate is reversed. Price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the other. Entergy may record revenue based on rates that are subject to refund. Such revenues are reduced by estimated refund amounts when Entergy believes refunds are probable based on the status of rate proceedings as of the date financial statements are prepared. Because these refunds will be made through a reduction in future rates, and not as a reduction in bills previously issued, they are presented as other revenues in the table above. System Energy’s only source of revenue is the sale of electric power and capacity generated from its 90% interest in the Grand Gulf nuclear plant to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. System Energy issues monthly bills to its affiliated customers equal to its actual operating costs plus a return on common equity approved by the FERC. Entergy’s Utility operating companies also sell excess power not needed for its own customers, primarily through transactions with 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. MISO settles these offers and bids based on locational marginal prices. These represent 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 each market participant’s energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Natural Gas Entergy Louisiana and Entergy New Orleans also distribute natural gas to retail customers in and around Baton Rouge, Louisiana, and New Orleans, Louisiana, respectively. Gas transferred to customers is measured by a meter at the customer’s property. Entergy issues monthly invoices to customers at rates approved by regulators for the volume of gas transferred to date. Competitive Businesses Revenues The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power and capacity produced by its operating plants to wholesale customers. The majority of Entergy Wholesale Commodities’ revenues are from Entergy’s nuclear power plants located in the northern United States. Entergy issues monthly invoices to the counterparties for these electric sales at the respective contracted or ISO market rate of electricity and related services provided during the previous month. Most of the Palisades nuclear plant output is sold under a 15-year PPA with Consumers Energy, executed as part of the acquisition of the plant in 2007 and expiring in 2022. 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. Entergy issues monthly invoices to Consumers Energy for electric sales based on the actual output of electricity and related services provided during the previous month at the contract price. The PPA was at below-market prices at the time of the acquisition and Entergy amortizes a liability to revenue over the life of the agreement. The amount 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 $10 million in 2019 , $6 million in 2018 , and $28 million in 2017 . Amounts to be amortized to revenue through the remaining life of the agreement will be approximately $11 million in 2020, $12 million in 2021, and $5 million in 2022. Practical Expedients and Exceptions Entergy has elected not to disclose the value of unsatisfied performance obligations for contracts with an original expected term of one year or less, or for revenue recognized in an amount equal to what Entergy has the right to bill the customer for services performed. Most of Entergy’s contracts, except in a few cases where there are defined minimums or stated terms, are on demand. This results in customer bills that vary each month based on an approved tariff and usage. Entergy imposes monthly or annual minimum requirements on some customers primarily as credit and cost recovery guarantees and not as pricing for unsatisfied performance obligations. These minimums typically expire after the initial term or when specified costs have been recovered. The minimum amounts are part of each month’s bill and recognized as revenue accordingly. Some of the subsidiaries within the Entergy Wholesale Commodities segment have operations and maintenance services contracts that have fixed components and terms longer than one year. The total fixed consideration related to these unsatisfied performance obligations, however, is not material to Entergy revenues. Recovery of Fuel Costs 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 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 based 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. 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. |
System Energy [Member] | |
Revenue Recognition | REVENUE (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” effective January 1, 2018. Topic 606 requires entities to “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. This accounting was applied to all contracts using the modified retrospective method, which requires an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date. Because the standard did not result in any material change in Entergy’s revenue recognition no adjustment to retained earnings was required upon implementation. Similarly, there was no effect on revenues recognized under Topic 606 for the year ended December 31, 2018. Revenues from electric service and the sale of natural gas are recognized when services are transferred to the customer in an amount equal to what Entergy has the right to bill the customer because this amount represents the value of services provided to customers. Entergy’s total revenues for the years ended December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $3,531,500 $3,565,522 Commercial 2,475,586 2,426,477 Industrial 2,541,287 2,499,227 Governmental 228,470 225,882 Total billed retail 8,776,843 8,717,108 Sales for resale (a) 285,722 299,567 Other electric revenues (b) 343,143 326,910 Revenues from contracts with customers 9,405,708 9,343,585 Other revenues (c) 24,270 40,526 Total electric revenues 9,429,978 9,384,111 Natural gas 153,954 156,436 Entergy Wholesale Commodities: Competitive businesses sales from contracts with customers (a) 1,164,552 1,547,994 Other revenues (c) 130,189 (79,089 ) Total competitive businesses revenues 1,294,741 1,468,905 Total operating revenues $10,878,673 $11,009,452 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Other revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. Electric Revenues Entergy’s primary source of revenue is from retail electric sales sold under tariff rates approved by regulators in its various jurisdictions. Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy’s Utility operating companies provide power to customers on demand throughout the month, measured by a meter located at the customer’s property. Approved rates vary by customer class due to differing requirements of the customers and market factors involved in fulfilling those requirements. Entergy issues monthly bills to customers at rates approved by regulators for power and related services provided during the previous billing cycle. To the extent that deliveries have occurred but a bill has not been issued, Entergy’s Utility operating companies record an estimate 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 market prices of power in the respective jurisdiction. The inputs are revised as needed to approximate actual usage and cost. Each month, estimated unbilled amounts are recorded as unbilled revenue and accounts receivable, and the prior month’s estimate is reversed. Price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the other. Entergy may record revenue based on rates that are subject to refund. Such revenues are reduced by estimated refund amounts when Entergy believes refunds are probable based on the status of rate proceedings as of the date financial statements are prepared. Because these refunds will be made through a reduction in future rates, and not as a reduction in bills previously issued, they are presented as other revenues in the table above. System Energy’s only source of revenue is the sale of electric power and capacity generated from its 90% interest in the Grand Gulf nuclear plant to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. System Energy issues monthly bills to its affiliated customers equal to its actual operating costs plus a return on common equity approved by the FERC. Entergy’s Utility operating companies also sell excess power not needed for its own customers, primarily through transactions with 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. MISO settles these offers and bids based on locational marginal prices. These represent 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 each market participant’s energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market and reports in operating revenues when in a net selling position and in operating expenses when in a net purchasing position. Natural Gas Entergy Louisiana and Entergy New Orleans also distribute natural gas to retail customers in and around Baton Rouge, Louisiana, and New Orleans, Louisiana, respectively. Gas transferred to customers is measured by a meter at the customer’s property. Entergy issues monthly invoices to customers at rates approved by regulators for the volume of gas transferred to date. Competitive Businesses Revenues The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power and capacity produced by its operating plants to wholesale customers. The majority of Entergy Wholesale Commodities’ revenues are from Entergy’s nuclear power plants located in the northern United States. Entergy issues monthly invoices to the counterparties for these electric sales at the respective contracted or ISO market rate of electricity and related services provided during the previous month. Most of the Palisades nuclear plant output is sold under a 15-year PPA with Consumers Energy, executed as part of the acquisition of the plant in 2007 and expiring in 2022. 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. Entergy issues monthly invoices to Consumers Energy for electric sales based on the actual output of electricity and related services provided during the previous month at the contract price. The PPA was at below-market prices at the time of the acquisition and Entergy amortizes a liability to revenue over the life of the agreement. The amount 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 $10 million in 2019 , $6 million in 2018 , and $28 million in 2017 . Amounts to be amortized to revenue through the remaining life of the agreement will be approximately $11 million in 2020, $12 million in 2021, and $5 million in 2022. Practical Expedients and Exceptions Entergy has elected not to disclose the value of unsatisfied performance obligations for contracts with an original expected term of one year or less, or for revenue recognized in an amount equal to what Entergy has the right to bill the customer for services performed. Most of Entergy’s contracts, except in a few cases where there are defined minimums or stated terms, are on demand. This results in customer bills that vary each month based on an approved tariff and usage. Entergy imposes monthly or annual minimum requirements on some customers primarily as credit and cost recovery guarantees and not as pricing for unsatisfied performance obligations. These minimums typically expire after the initial term or when specified costs have been recovered. The minimum amounts are part of each month’s bill and recognized as revenue accordingly. Some of the subsidiaries within the Entergy Wholesale Commodities segment have operations and maintenance services contracts that have fixed components and terms longer than one year. The total fixed consideration related to these unsatisfied performance obligations, however, is not material to Entergy revenues. Recovery of Fuel Costs 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 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 based 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. 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. |
Quarterly Financial Data
Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2019 | |
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 2019 and 2018 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2019: First Quarter $2,609,584 $283,254 $258,646 $254,537 Second Quarter $2,666,209 $338,775 $240,533 $236,424 Third Quarter $3,140,575 $519,929 $369,459 $365,240 Fourth Quarter $2,462,305 $248,539 $389,606 $385,025 2018: First Quarter $2,723,881 $335,664 $136,200 $132,761 Second Quarter $2,668,770 $91,597 $248,860 $245,421 Third Quarter $3,104,319 $271,035 $539,818 $536,379 Fourth Quarter $2,512,482 ($228,931 ) ($62,323 ) ($65,900 ) Earnings (loss) per average common share 2019 2018 Basic Diluted Basic Diluted First Quarter $1.34 $1.32 $0.73 $0.73 Second Quarter $1.22 $1.22 $1.36 $1.34 Third Quarter $1.84 $1.82 $2.96 $2.92 Fourth Quarter $1.96 $1.94 ($0.37 ) ($0.36 ) Results of operations for 2019 include: 1) a loss of $190 million ( $156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ( $79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant. Results of operations for 2018 include: 1) $532 million ( $421 million net-of-tax) of impairment charges due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business; 2) a $170 million reduction of income tax expense and a regulatory liability of $40 million ( $30 million net-of-tax) as a result of customer credits recognized by Utility, as a result of an internal restructuring; 3) a $107 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a restructuring of the investment holdings in one of its nuclear plant decommissioning trust funds; 4) a $52 million income tax benefit, recognized by Entergy Louisiana, as a result of the settlement of the 2012-2013 IRS audit, associated with the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing; and 5) a $23 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a state income tax audit. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Notes 2 and 3 to the financial statements for further discussion of the internal restructuring and customer credits. See Note 3 to the financial statements for further discussion of the IRS audit settlement, the state income tax audit, and restructuring of the decommissioning trust fund investment holdings. 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 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
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 2019 and 2018 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2019: First Quarter $2,609,584 $283,254 $258,646 $254,537 Second Quarter $2,666,209 $338,775 $240,533 $236,424 Third Quarter $3,140,575 $519,929 $369,459 $365,240 Fourth Quarter $2,462,305 $248,539 $389,606 $385,025 2018: First Quarter $2,723,881 $335,664 $136,200 $132,761 Second Quarter $2,668,770 $91,597 $248,860 $245,421 Third Quarter $3,104,319 $271,035 $539,818 $536,379 Fourth Quarter $2,512,482 ($228,931 ) ($62,323 ) ($65,900 ) Earnings (loss) per average common share 2019 2018 Basic Diluted Basic Diluted First Quarter $1.34 $1.32 $0.73 $0.73 Second Quarter $1.22 $1.22 $1.36 $1.34 Third Quarter $1.84 $1.82 $2.96 $2.92 Fourth Quarter $1.96 $1.94 ($0.37 ) ($0.36 ) Results of operations for 2019 include: 1) a loss of $190 million ( $156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ( $79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant. Results of operations for 2018 include: 1) $532 million ( $421 million net-of-tax) of impairment charges due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business; 2) a $170 million reduction of income tax expense and a regulatory liability of $40 million ( $30 million net-of-tax) as a result of customer credits recognized by Utility, as a result of an internal restructuring; 3) a $107 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a restructuring of the investment holdings in one of its nuclear plant decommissioning trust funds; 4) a $52 million income tax benefit, recognized by Entergy Louisiana, as a result of the settlement of the 2012-2013 IRS audit, associated with the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing; and 5) a $23 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a state income tax audit. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Notes 2 and 3 to the financial statements for further discussion of the internal restructuring and customer credits. See Note 3 to the financial statements for further discussion of the IRS audit settlement, the state income tax audit, and restructuring of the decommissioning trust fund investment holdings. 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 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
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 2019 and 2018 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2019: First Quarter $2,609,584 $283,254 $258,646 $254,537 Second Quarter $2,666,209 $338,775 $240,533 $236,424 Third Quarter $3,140,575 $519,929 $369,459 $365,240 Fourth Quarter $2,462,305 $248,539 $389,606 $385,025 2018: First Quarter $2,723,881 $335,664 $136,200 $132,761 Second Quarter $2,668,770 $91,597 $248,860 $245,421 Third Quarter $3,104,319 $271,035 $539,818 $536,379 Fourth Quarter $2,512,482 ($228,931 ) ($62,323 ) ($65,900 ) Earnings (loss) per average common share 2019 2018 Basic Diluted Basic Diluted First Quarter $1.34 $1.32 $0.73 $0.73 Second Quarter $1.22 $1.22 $1.36 $1.34 Third Quarter $1.84 $1.82 $2.96 $2.92 Fourth Quarter $1.96 $1.94 ($0.37 ) ($0.36 ) Results of operations for 2019 include: 1) a loss of $190 million ( $156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ( $79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant. Results of operations for 2018 include: 1) $532 million ( $421 million net-of-tax) of impairment charges due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business; 2) a $170 million reduction of income tax expense and a regulatory liability of $40 million ( $30 million net-of-tax) as a result of customer credits recognized by Utility, as a result of an internal restructuring; 3) a $107 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a restructuring of the investment holdings in one of its nuclear plant decommissioning trust funds; 4) a $52 million income tax benefit, recognized by Entergy Louisiana, as a result of the settlement of the 2012-2013 IRS audit, associated with the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing; and 5) a $23 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a state income tax audit. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Notes 2 and 3 to the financial statements for further discussion of the internal restructuring and customer credits. See Note 3 to the financial statements for further discussion of the IRS audit settlement, the state income tax audit, and restructuring of the decommissioning trust fund investment holdings. 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 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
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 2019 and 2018 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2019: First Quarter $2,609,584 $283,254 $258,646 $254,537 Second Quarter $2,666,209 $338,775 $240,533 $236,424 Third Quarter $3,140,575 $519,929 $369,459 $365,240 Fourth Quarter $2,462,305 $248,539 $389,606 $385,025 2018: First Quarter $2,723,881 $335,664 $136,200 $132,761 Second Quarter $2,668,770 $91,597 $248,860 $245,421 Third Quarter $3,104,319 $271,035 $539,818 $536,379 Fourth Quarter $2,512,482 ($228,931 ) ($62,323 ) ($65,900 ) Earnings (loss) per average common share 2019 2018 Basic Diluted Basic Diluted First Quarter $1.34 $1.32 $0.73 $0.73 Second Quarter $1.22 $1.22 $1.36 $1.34 Third Quarter $1.84 $1.82 $2.96 $2.92 Fourth Quarter $1.96 $1.94 ($0.37 ) ($0.36 ) Results of operations for 2019 include: 1) a loss of $190 million ( $156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ( $79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant. Results of operations for 2018 include: 1) $532 million ( $421 million net-of-tax) of impairment charges due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business; 2) a $170 million reduction of income tax expense and a regulatory liability of $40 million ( $30 million net-of-tax) as a result of customer credits recognized by Utility, as a result of an internal restructuring; 3) a $107 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a restructuring of the investment holdings in one of its nuclear plant decommissioning trust funds; 4) a $52 million income tax benefit, recognized by Entergy Louisiana, as a result of the settlement of the 2012-2013 IRS audit, associated with the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing; and 5) a $23 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a state income tax audit. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Notes 2 and 3 to the financial statements for further discussion of the internal restructuring and customer credits. See Note 3 to the financial statements for further discussion of the IRS audit settlement, the state income tax audit, and restructuring of the decommissioning trust fund investment holdings. 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 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
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 2019 and 2018 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2019: First Quarter $2,609,584 $283,254 $258,646 $254,537 Second Quarter $2,666,209 $338,775 $240,533 $236,424 Third Quarter $3,140,575 $519,929 $369,459 $365,240 Fourth Quarter $2,462,305 $248,539 $389,606 $385,025 2018: First Quarter $2,723,881 $335,664 $136,200 $132,761 Second Quarter $2,668,770 $91,597 $248,860 $245,421 Third Quarter $3,104,319 $271,035 $539,818 $536,379 Fourth Quarter $2,512,482 ($228,931 ) ($62,323 ) ($65,900 ) Earnings (loss) per average common share 2019 2018 Basic Diluted Basic Diluted First Quarter $1.34 $1.32 $0.73 $0.73 Second Quarter $1.22 $1.22 $1.36 $1.34 Third Quarter $1.84 $1.82 $2.96 $2.92 Fourth Quarter $1.96 $1.94 ($0.37 ) ($0.36 ) Results of operations for 2019 include: 1) a loss of $190 million ( $156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ( $79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant. Results of operations for 2018 include: 1) $532 million ( $421 million net-of-tax) of impairment charges due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business; 2) a $170 million reduction of income tax expense and a regulatory liability of $40 million ( $30 million net-of-tax) as a result of customer credits recognized by Utility, as a result of an internal restructuring; 3) a $107 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a restructuring of the investment holdings in one of its nuclear plant decommissioning trust funds; 4) a $52 million income tax benefit, recognized by Entergy Louisiana, as a result of the settlement of the 2012-2013 IRS audit, associated with the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing; and 5) a $23 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a state income tax audit. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Notes 2 and 3 to the financial statements for further discussion of the internal restructuring and customer credits. See Note 3 to the financial statements for further discussion of the IRS audit settlement, the state income tax audit, and restructuring of the decommissioning trust fund investment holdings. 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 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
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 2019 and 2018 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2019: First Quarter $2,609,584 $283,254 $258,646 $254,537 Second Quarter $2,666,209 $338,775 $240,533 $236,424 Third Quarter $3,140,575 $519,929 $369,459 $365,240 Fourth Quarter $2,462,305 $248,539 $389,606 $385,025 2018: First Quarter $2,723,881 $335,664 $136,200 $132,761 Second Quarter $2,668,770 $91,597 $248,860 $245,421 Third Quarter $3,104,319 $271,035 $539,818 $536,379 Fourth Quarter $2,512,482 ($228,931 ) ($62,323 ) ($65,900 ) Earnings (loss) per average common share 2019 2018 Basic Diluted Basic Diluted First Quarter $1.34 $1.32 $0.73 $0.73 Second Quarter $1.22 $1.22 $1.36 $1.34 Third Quarter $1.84 $1.82 $2.96 $2.92 Fourth Quarter $1.96 $1.94 ($0.37 ) ($0.36 ) Results of operations for 2019 include: 1) a loss of $190 million ( $156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ( $79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant. Results of operations for 2018 include: 1) $532 million ( $421 million net-of-tax) of impairment charges due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business; 2) a $170 million reduction of income tax expense and a regulatory liability of $40 million ( $30 million net-of-tax) as a result of customer credits recognized by Utility, as a result of an internal restructuring; 3) a $107 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a restructuring of the investment holdings in one of its nuclear plant decommissioning trust funds; 4) a $52 million income tax benefit, recognized by Entergy Louisiana, as a result of the settlement of the 2012-2013 IRS audit, associated with the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing; and 5) a $23 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a state income tax audit. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Notes 2 and 3 to the financial statements for further discussion of the internal restructuring and customer credits. See Note 3 to the financial statements for further discussion of the IRS audit settlement, the state income tax audit, and restructuring of the decommissioning trust fund investment holdings. 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 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
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 2019 and 2018 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2019: First Quarter $2,609,584 $283,254 $258,646 $254,537 Second Quarter $2,666,209 $338,775 $240,533 $236,424 Third Quarter $3,140,575 $519,929 $369,459 $365,240 Fourth Quarter $2,462,305 $248,539 $389,606 $385,025 2018: First Quarter $2,723,881 $335,664 $136,200 $132,761 Second Quarter $2,668,770 $91,597 $248,860 $245,421 Third Quarter $3,104,319 $271,035 $539,818 $536,379 Fourth Quarter $2,512,482 ($228,931 ) ($62,323 ) ($65,900 ) Earnings (loss) per average common share 2019 2018 Basic Diluted Basic Diluted First Quarter $1.34 $1.32 $0.73 $0.73 Second Quarter $1.22 $1.22 $1.36 $1.34 Third Quarter $1.84 $1.82 $2.96 $2.92 Fourth Quarter $1.96 $1.94 ($0.37 ) ($0.36 ) Results of operations for 2019 include: 1) a loss of $190 million ( $156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ( $79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant. Results of operations for 2018 include: 1) $532 million ( $421 million net-of-tax) of impairment charges due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business; 2) a $170 million reduction of income tax expense and a regulatory liability of $40 million ( $30 million net-of-tax) as a result of customer credits recognized by Utility, as a result of an internal restructuring; 3) a $107 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a restructuring of the investment holdings in one of its nuclear plant decommissioning trust funds; 4) a $52 million income tax benefit, recognized by Entergy Louisiana, as a result of the settlement of the 2012-2013 IRS audit, associated with the Hurricane Katrina and Hurricane Rita contingent sharing obligation associated with the Louisiana Act 55 financing; and 5) a $23 million reduction of income tax expense, recognized by Entergy Wholesale Commodities, as a result of a state income tax audit. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Notes 2 and 3 to the financial statements for further discussion of the internal restructuring and customer credits. See Note 3 to the financial statements for further discussion of the IRS audit settlement, the state income tax audit, and restructuring of the decommissioning trust fund investment holdings. 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 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
Schedule II - Valuation And Qua
Schedule II - Valuation And Qualifying Accounts | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-09, 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, 2019, 2018, and 2017 (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 2019 $7,322 $2,806 $2,724 $7,404 2018 $13,587 $3,936 $10,201 $7,322 2017 $11,924 $4,211 $2,548 $13,587 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Arkansas [Member] | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY ARKANSAS, LLC AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2019, 2018, and 2017 (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 2019 $1,264 $1,000 $1,095 $1,169 2018 $1,063 $810 $609 $1,264 2017 $1,211 $503 $651 $1,063 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Louisiana [Member] | |
SEC Schedule, 12-09, 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, 2019, 2018, and 2017 (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 2019 $1,813 $762 $673 $1,902 2018 $8,430 $2,395 $9,012 $1,813 2017 $6,277 $3,108 $955 $8,430 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Mississippi [Member] | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY MISSISSIPPI, LLC SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2019, 2018, and 2017 (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 2019 $563 $406 $333 $636 2018 $574 $265 $276 $563 2017 $549 $255 $230 $574 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy New Orleans [Member] | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY NEW ORLEANS, LLC AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2019, 2018, and 2017 (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 2019 $3,222 $316 $312 $3,226 2018 $3,057 $187 $22 $3,222 2017 $3,059 $152 $154 $3,057 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Texas [Member] | |
SEC Schedule, 12-09, 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, 2019, 2018, and 2017 (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 2019 $461 $321 $311 $471 2018 $463 $279 $281 $461 2017 $828 $192 $557 $463 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2019 | |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. |
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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
New Accounting Pronouncements | New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. |
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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
New Accounting Pronouncements | New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. |
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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
New Accounting Pronouncements | New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. |
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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
New Accounting Pronouncements | New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. |
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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
New Accounting Pronouncements | New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. |
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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
New Accounting Pronouncements | New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
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 See Note 19 to the financial statements for a discussion of Entergy’s and the Registrant Subsidiaries’ revenues and fuel costs. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Certain combined-cycle gas turbine generating units are maintained under long-term service agreements with third-party service providers. The costs under these agreements are split between operating expenses and capital additions based upon the nature of the work performed. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 Depreciation rates on average depreciable property for Entergy approximated 2.8% in 2019 , 2.8% in 2018 , and 3% in 2017 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2019 , 2.6% in 2018 , and 2.6% in 2017 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 18.3% in 2019 , 18.6% in 2018 , and 22.3% in 2017 . The depreciation rates for Entergy Wholesale Commodities reflect the significantly reduced remaining estimated operating lives associated with management’s strategy to shut down and sell all of the remaining plants in Entergy Wholesale Commodities’ merchant nuclear fleet. The decrease in the depreciation rate in 2018 for Entergy Wholesale Commodities is due to the decision in the third quarter 2017 to continue operating Palisades until May 31, 2022. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. Non-utility property - at cost (less accumulated depreciation) for Entergy is reported net of accumulated depreciation of $184 million as of December 31, 2019 and $177 million as of December 31, 2018. Construction expenditures included in accounts payable is $406 million as of December 31, 2019 and $311 million as of December 31, 2018. Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $168.5 million as of December 31, 2019 and $161.2 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million as of December 31, 2019 and $0.5 million as of December 31, 2018 . Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million as of December 31, 2019 and $4.9 million as of December 31, 2018 . As of December 31, 2019 , construction expenditures included in accounts payable are $67.9 million for Entergy Arkansas, $115.1 million for Entergy Louisiana, $34.2 million for Entergy Mississippi, $18.4 million for Entergy New Orleans, $88.1 million for Entergy Texas, and $23.2 million for System Energy. As of December 31, 2018 , construction expenditures included in accounts payable are $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 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, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. In September 2019, Entergy Utility Holding Company, LLC and its regulated wholly owned subsidiaries including Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, and Entergy New Orleans, LLC became eligible to and joined the Entergy Corporation consolidated federal income tax group. These changes do not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 The calculation of diluted earnings per share excluded 173,290 options outstanding at December 31, 2019 , 956,550 options outstanding at December 31, 2018 , and 2,927,512 options outstanding at December 31, 2017 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Entergy accounts for forfeitures of stock-based compensation when they occur. Entergy recognizes all income tax effects related to share-based payments through the income statement. |
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, or its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 2 and 3 to the financial statements. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments Entergy records decommissioning trust funds on the balance sheet at their fair value. Effective January 1, 2018, with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds are recorded in earnings as they occur rather than in other comprehensive income. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for the Entergy Wholesale Commodities nuclear plants do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the 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. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. The assessment of whether an investment in an available-for-sale 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’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. Prior to 2019, the ineffective portions of all hedges are recognized in current-period earnings. Effective January 1, 2019 with the adoption of ASU 2017-12 there will no longer be separate recognition of the ineffective portion of highly effective hedges. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
New Accounting Pronouncements | New Accounting Pronouncements 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. Entergy adopted ASU 2016-13 in the first quarter 2020. Adoption of ASU 2016-13 did not materially affect Entergy’s results of operations, financial position, or cash flows. In September 2018 the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service.” The ASU requires entities to capitalize implementation costs associated with cloud computing arrangements classified as hosting arrangements and amortize those costs over the contract term. These costs are required to be capitalized in the same line as prepayments of the costs, and subsequently amortized in the same lines as the hosting service element of the arrangement. Entergy adopted ASU 2018-15 in the first quarter 2020. Entergy adopted ASU 2018-15 on a prospective basis, which will affect its statement of financial position by presenting implementation costs for hosting arrangements as prepayments rather than utility plant, and will affect its results of operations by amortizing those costs as operation and maintenance expense, rather than depreciation and amortization, over the contract term of the arrangement. |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for Entergy (including property under lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,439 $7,369 $70 $— Other 5,253 5,139 114 — Transmission 7,383 7,383 — — Distribution 8,972 8,972 — — Other 2,636 2,620 8 8 Construction work in progress 2,823 2,814 9 — Nuclear fuel 677 614 63 — Property, plant, and equipment - net $35,183 $34,911 $264 $8 2018 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $7,096 $6,964 $132 $— Other 4,171 4,069 102 — Transmission 6,592 6,590 2 — Distribution 8,343 8,343 — — Other 2,022 2,011 2 9 Construction work in progress 2,889 2,815 74 — Nuclear fuel 861 754 107 — Property, plant, and equipment - net $31,974 $31,546 $419 $9 |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $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, 2019 2018 2017 (In Millions, Except Per Share Data) $/share $/share $/share Net income attributable to Entergy Corporation $1,241.2 $848.7 $411.6 Basic shares and earnings per average common share 195.2 $6.36 181.4 $4.68 179.7 $2.29 Average dilutive effect of: Stock options 0.6 (0.02 ) 0.3 (0.01 ) 0.2 — Other equity plans 0.8 (0.03 ) 0.7 (0.02 ) 0.6 (0.01 ) Equity forwards 0.4 (0.01 ) 1.0 (0.02 ) — — Diluted shares and earnings per average common shares 197.0 $6.30 183.4 $4.63 180.5 $2.28 |
Entergy Arkansas [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 |
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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $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 lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 |
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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $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 lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 |
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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $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 lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 |
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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $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 lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 |
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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $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 lease and associated accumulated amortization) by company and functional category, as of December 31, 2019 and 2018 , is shown below: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,611 $4,042 $— $— $— $1,716 Other 785 2,789 845 192 528 — Transmission 1,966 2,944 1,136 96 1,202 39 Distribution 2,457 3,078 1,489 505 1,443 — Other 454 884 309 270 256 30 Construction work in progress 198 1,384 88 202 760 165 Nuclear fuel 196 268 — — — 150 Property, plant, and equipment - net $7,667 $15,389 $3,867 $1,265 $4,189 $2,100 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,494 $3,725 $— $— $— $1,745 Other 820 2,029 509 196 515 — Transmission 1,792 2,571 1,046 78 1,063 40 Distribution 2,329 2,882 1,342 471 1,319 — Other 311 699 242 233 193 39 Construction work in progress 244 1,865 128 147 325 70 Nuclear fuel 221 298 — — — 235 Property, plant, and equipment - net $7,211 $14,069 $3,267 $1,125 $3,415 $2,129 |
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 2019 2.5% 2.4% 3.2% 3.2% 3.0% 2.1% 2018 2.5% 2.3% 3.2% 3.5% 2.7% 1.9% 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2019 , 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 826 31.50 % $142 $104 Independence Common Facilities Coal 15.75 % $35 $29 White Bluff Units 1 and 2 Coal 1,638 57.00 % $555 $380 Ouachita (b) Common Facilities Gas 66.67 % $173 $153 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $0.4 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 525 40.25 % $286 $207 Roy S. Nelson Unit 6 Common Facilities Coal 19.95 % $20 $9 Big Cajun 2 Unit 3 Coal 576 24.15 % $151 $124 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $77 Acadia Common Facilities Gas 50.00 % $20 $1 Union (c) Common Facilities Gas 50.00 % $57 $6 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,668 25.00 % $271 $163 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $0.1 Union (c) Common Facilities Gas 25.00 % $29 $6 Entergy Texas - Roy S. Nelson Unit 6 Coal 525 29.75 % $204 $120 Roy S. Nelson Unit 6 Common Facilities Coal 14.75 % $7 $3 Big Cajun 2 Unit 3 Coal 576 17.85 % $113 $80 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $4 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,393 90.00 % $5,071 $3,285 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $74 $53 Independence Common Facilities Coal 7.18 % $17 $13 Roy S. Nelson Unit 6 Coal 525 10.90 % $115 $66 Roy S. Nelson Unit 6 Common Facilities Coal 5.40 % $3 $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, 2019 | |
Details Of Other Regulatory Assets | Entergy 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,942.4 $2,611.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 920.4 814.3 Removal costs - recovered through depreciation rates (Note 9) 421.0 375.8 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 372.8 452.7 Retired electric and gas meters - recovered through retail rates as determined by retail regulators (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 205.6 — Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Unamortized loss on reacquired debt - recovered over term of debt 66.6 74.5 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 29.9 52.1 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 21.6 29.0 Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 15.7 39.0 Other 150.3 157.7 Entergy Total $5,292.1 $4,746.5 |
Schedule of Regulatory Liabilities | Entergy 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $1,300.1 $815.9 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 62.3 84.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions ) 55.6 55.6 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 51.1 44.4 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.2 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Advanced metering system (AMS) surcharge - return to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 25.3 16.5 Excess decommissioning recovery for Willow Glen - (Note 14 - Dispositions ) 21.2 31.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Income tax rate change - returned to electric and gas customers through retail rates (Note 2 - Retail Rate Proceedings ) 13.9 74.7 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Other 36.6 28.2 Entergy Total $1,961.0 $1,620.3 |
Entergy Louisiana [Member] | |
Details Of Other Regulatory Assets | Entergy Louisiana 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $787.7 $711.8 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 262.5 232.9 Retired electric meters - recovered over a 22-year period through July 2041 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 101.1 — Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 45.7 17.9 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 27.6 49.8 New nuclear generation development costs - recovery through formula rate plan December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 21.2 28.5 Unamortized loss on reacquired debt - recovered over term of debt 20.4 22.5 Business combination external costs deferral - recovery through formula rate plan December 2015 through November 2025 (b) 10.8 12.4 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 9.1 11.0 Other 29.1 18.3 Entergy Louisiana Total $1,315.2 $1,105.1 |
Schedule of Regulatory Liabilities | Entergy Louisiana 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $436.5 $274.1 Vidalia purchased power agreement (Note 8) (b) 127.3 139.7 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 97.1 111.1 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 37.1 39.1 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates December 2015 through November 2024 35.7 50.8 Excess decommissioning recovery for Willow Glen - returned over one-year period through retail rates (Note 14 - Dispositions ) 21.2 31.9 Removal costs - returned to customers through depreciation rates (Note 9) 2.4 18.8 Income tax rate change - returned to electric customers through retail rates September 2018 through August 2019 (Note 2 - Retail Rate Proceedings ) — 49.9 Other 36.8 33.4 Entergy Louisiana Total $794.1 $748.8 |
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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. |
Opportunity Sales Proceeding [Table Text Block] | Refunds and interest in the following amounts were paid by Entergy Arkansas to the other operating companies in December 2018: Total refunds including interest Payment/(Receipt) (In Millions) Principal Interest Total Entergy Arkansas $68 $67 $135 Entergy Louisiana ($30) ($29) ($59) Entergy Mississippi ($18) ($18) ($36) Entergy New Orleans ($3) ($4) ($7) Entergy Texas ($17) ($16) ($33) |
Entergy Louisiana [Member] | FERC October 2011 Order [Member] | |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing showed 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 Louisiana [Member] | FERC February 2014 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing showed 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) |
Entergy Louisiana [Member] | FERC May 2018 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 |
Entergy Louisiana [Member] | FERC Rough Production Cost Equalization Orders [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | These filings showed the following payments/receipts among the Utility operating companies were necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $278 $252 $390 $47 $77 $41 $— $— Entergy Louisiana ($203 ) ($160 ) ($247 ) ($25 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($34 ) ($20 ) ($24 ) ($21 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— ($1 ) ($25 ) $— ($15 ) ($15 ) Entergy Texas ($41 ) ($65 ) ($119 ) $— $— $— $15 $15 |
Entergy Louisiana [Member] | FERC May 2018 Bandwidth True-up Orders [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | Entergy filed in May 2018 the bandwidth true-up payments and receipts for the 2011-2014 rate filings (table does not net to zero due to rounding): Payments (Receipts) (In Millions) Entergy Arkansas $3 Entergy Louisiana $3 Entergy Mississippi ($1) Entergy New Orleans $1 Entergy Texas ($5) |
Entergy New Orleans [Member] | |
Details Of Other Regulatory Assets | Entergy New Orleans 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $85.9 $96.2 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 59.6 70.4 Removal costs - recovered through depreciation rates (Note 9) 52.9 49.3 Retired meters - recovered over a 12-year period through July 2031 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) (b) 24.6 — Retired plant costs - recovered over a 20-year period through July 2039 (Note 2 - Retail Rate Proceedings ) 10.0 — Rate case costs - recovered over a 3-year period through July 2022 (Note 2 - Retail Rate Proceedings ) 7.0 — Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.9 4.5 Algiers customer migration costs - recovered over a 5-year period through July 2024 (Note 2 - Retail Rate Proceedings ) 4.9 — Unamortized loss on reacquired debt - recovered over term of debt 2.3 2.6 Other 7.3 6.8 Entergy New Orleans Total $259.4 $229.8 |
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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. |
Opportunity Sales Proceeding [Table Text Block] | Refunds and interest in the following amounts were paid by Entergy Arkansas to the other operating companies in December 2018: Total refunds including interest Payment/(Receipt) (In Millions) Principal Interest Total Entergy Arkansas $68 $67 $135 Entergy Louisiana ($30) ($29) ($59) Entergy Mississippi ($18) ($18) ($36) Entergy New Orleans ($3) ($4) ($7) Entergy Texas ($17) ($16) ($33) |
Entergy New Orleans [Member] | FERC October 2011 Order [Member] | |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing showed 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 New Orleans [Member] | FERC February 2014 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing showed 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) |
Entergy New Orleans [Member] | FERC May 2018 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 |
Entergy New Orleans [Member] | FERC Rough Production Cost Equalization Orders [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | These filings showed the following payments/receipts among the Utility operating companies were necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $278 $252 $390 $47 $77 $41 $— $— Entergy Louisiana ($203 ) ($160 ) ($247 ) ($25 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($34 ) ($20 ) ($24 ) ($21 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— ($1 ) ($25 ) $— ($15 ) ($15 ) Entergy Texas ($41 ) ($65 ) ($119 ) $— $— $— $15 $15 |
Entergy New Orleans [Member] | FERC May 2018 Bandwidth True-up Orders [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | Entergy filed in May 2018 the bandwidth true-up payments and receipts for the 2011-2014 rate filings (table does not net to zero due to rounding): Payments (Receipts) (In Millions) Entergy Arkansas $3 Entergy Louisiana $3 Entergy Mississippi ($1) Entergy New Orleans $1 Entergy Texas ($5) |
Entergy Texas [Member] | |
Details Of Other Regulatory Assets | Entergy Texas 2019 2018 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $221.4 $303.6 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 167.7 171.8 Removal costs - recovered through depreciation rates (Note 9) 42.5 50.9 Retired electric meters - recovered over 13-year period through February 2032 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 28.4 — Neches and Sabine costs - recovered over a 10-year period through September 2028 (Note 2 - Retail Rate Proceedings ) 21.2 23.6 Transition to competition costs - recovered over a 15-year period through February 2021 14.9 26.7 Unamortized loss on reacquired debt - recovered over term of debt 7.7 8.2 Other 8.8 13.2 Entergy Texas Total $512.6 $598.0 |
Schedule of Regulatory Liabilities | Entergy Texas 2019 2018 (In Millions) Advanced metering system (AMS) surcharge - returned to customers dependent upon AMS spend (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) $25.3 $16.5 Income tax rate change - refunded through a rate rider (Note 2 - Retail Rate Proceedings ) 10.4 23.1 Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically 3.8 4.2 Other 2.6 4.1 Entergy Texas Total $42.1 $47.9 |
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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. |
Opportunity Sales Proceeding [Table Text Block] | Refunds and interest in the following amounts were paid by Entergy Arkansas to the other operating companies in December 2018: Total refunds including interest Payment/(Receipt) (In Millions) Principal Interest Total Entergy Arkansas $68 $67 $135 Entergy Louisiana ($30) ($29) ($59) Entergy Mississippi ($18) ($18) ($36) Entergy New Orleans ($3) ($4) ($7) Entergy Texas ($17) ($16) ($33) |
Entergy Texas [Member] | FERC October 2011 Order [Member] | |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing showed 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 Texas [Member] | FERC February 2014 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing showed 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) |
Entergy Texas [Member] | FERC May 2018 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 |
Entergy Texas [Member] | FERC Rough Production Cost Equalization Orders [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | These filings showed the following payments/receipts among the Utility operating companies were necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $278 $252 $390 $47 $77 $41 $— $— Entergy Louisiana ($203 ) ($160 ) ($247 ) ($25 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($34 ) ($20 ) ($24 ) ($21 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— ($1 ) ($25 ) $— ($15 ) ($15 ) Entergy Texas ($41 ) ($65 ) ($119 ) $— $— $— $15 $15 |
Entergy Texas [Member] | FERC May 2018 Bandwidth True-up Orders [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | Entergy filed in May 2018 the bandwidth true-up payments and receipts for the 2011-2014 rate filings (table does not net to zero due to rounding): Payments (Receipts) (In Millions) Entergy Arkansas $3 Entergy Louisiana $3 Entergy Mississippi ($1) Entergy New Orleans $1 Entergy Texas ($5) |
System Energy [Member] | |
Details Of Other Regulatory Assets | System Energy 2019 2018 (In Millions) Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) $210.9 $186.9 Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) 200.3 179.3 Removal costs - recovered through depreciation rates (Note 9) 75.9 76.4 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.8 System Energy Total $490.1 $446.4 |
Schedule of Regulatory Liabilities | System Energy 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $403.3 $244.6 Grand Gulf sale-leaseback - ( Note 5 - Grand Gulf Sale-Leaseback Transactions) 55.6 55.6 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 17.8 25.0 Other 12.3 12.3 System Energy Total $533.4 $381.9 |
Entergy Mississippi [Member] | |
Details Of Other Regulatory Assets | Entergy Mississippi 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $234.4 $215.9 Removal costs - recovered through depreciation rates (Note 9) 80.8 63.5 Attorney General litigation costs (Note 2 - Mississippi Attorney General Complaint) (b) 29.5 23.6 Unamortized loss on reacquired debt - recovered over term of debt 14.9 16.2 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.8 7.2 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 7.6 16.6 Other 3.0 — Entergy Mississippi Total $378.0 $343.0 |
Schedule of Regulatory Liabilities | Entergy Mississippi 2019 2018 (In Millions) Retail rate deferrals - returned to customers through rate riders as rates are redetermined annually $14.6 $1.3 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 4.5 9.3 Grand Gulf Over-Recovery - returned to customers through rate riders as rates are redetermined annually 2.4 22.6 Other — 0.4 Entergy Mississippi Total $21.5 $33.6 |
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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. |
Opportunity Sales Proceeding [Table Text Block] | Refunds and interest in the following amounts were paid by Entergy Arkansas to the other operating companies in December 2018: Total refunds including interest Payment/(Receipt) (In Millions) Principal Interest Total Entergy Arkansas $68 $67 $135 Entergy Louisiana ($30) ($29) ($59) Entergy Mississippi ($18) ($18) ($36) Entergy New Orleans ($3) ($4) ($7) Entergy Texas ($17) ($16) ($33) |
Entergy Mississippi [Member] | FERC October 2011 Order [Member] | |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing showed 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 Mississippi [Member] | FERC February 2014 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing showed 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) |
Entergy Mississippi [Member] | FERC May 2018 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 |
Entergy Mississippi [Member] | FERC Rough Production Cost Equalization Orders [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | These filings showed the following payments/receipts among the Utility operating companies were necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $278 $252 $390 $47 $77 $41 $— $— Entergy Louisiana ($203 ) ($160 ) ($247 ) ($25 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($34 ) ($20 ) ($24 ) ($21 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— ($1 ) ($25 ) $— ($15 ) ($15 ) Entergy Texas ($41 ) ($65 ) ($119 ) $— $— $— $15 $15 |
Entergy Mississippi [Member] | FERC May 2018 Bandwidth True-up Orders [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | Entergy filed in May 2018 the bandwidth true-up payments and receipts for the 2011-2014 rate filings (table does not net to zero due to rounding): Payments (Receipts) (In Millions) Entergy Arkansas $3 Entergy Louisiana $3 Entergy Mississippi ($1) Entergy New Orleans $1 Entergy Texas ($5) |
Entergy Arkansas [Member] | |
Details Of Other Regulatory Assets | Entergy Arkansas 2019 2018 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $796.5 $747.2 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 433.0 381.7 Removal costs - recovered through depreciation rates (Note 9) 168.9 138.3 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) (b) 116.3 116.3 Retired electric meters - recovered over 15-year period through March 2034 (Note 2 - Advanced Metering Infrastructure (AMI) Filings ) 50.4 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 46.1 60.7 Unamortized loss on reacquired debt - recovered over term of debt 18.3 21.2 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 10.9 12.6 Retail rate deferrals - recovered through rate riders as rates are redetermined annually (b) 2.3 20.5 Other 24.2 36.5 Entergy Arkansas Total $1,666.9 $1,535.0 |
Schedule of Regulatory Liabilities | Entergy Arkansas 2019 2018 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $460.3 $297.2 Future formula rate plan revenue reductions (Note 2 - Retail Rate Proceedings ) 46.6 35.1 Internal restructuring guaranteed customer credits (Note 2 - Retail Rate Proceedings ) 33.0 39.6 Retail rate rider over-recovery - refunded through rate riders as rates are redetermined annually 19.7 30.8 Entergy Arkansas Total $559.6 $402.7 |
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, 2019 and 2018 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2019 2018 (In Millions) Entergy Arkansas (a) $14.0 $86.5 Entergy Louisiana (b) $112.5 $136.7 Entergy Mississippi ($70.4 ) $8.0 Entergy New Orleans (b) ($0.8 ) $2.8 Entergy Texas ($13.0 ) ($19.7 ) (a) Includes $67.7 million in 2019 and $67.3 million in 2018 of fuel and purchased power costs whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in both years for Entergy Louisiana and $4.1 million in both years 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. |
Opportunity Sales Proceeding [Table Text Block] | Refunds and interest in the following amounts were paid by Entergy Arkansas to the other operating companies in December 2018: Total refunds including interest Payment/(Receipt) (In Millions) Principal Interest Total Entergy Arkansas $68 $67 $135 Entergy Louisiana ($30) ($29) ($59) Entergy Mississippi ($18) ($18) ($36) Entergy New Orleans ($3) ($4) ($7) Entergy Texas ($17) ($16) ($33) |
Entergy Arkansas [Member] | FERC October 2011 Order [Member] | |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing showed 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 [Member] | FERC February 2014 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing showed 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) |
Entergy Arkansas [Member] | FERC May 2018 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 |
Entergy Arkansas [Member] | FERC Rough Production Cost Equalization Orders [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | These filings showed the following payments/receipts among the Utility operating companies were necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $278 $252 $390 $47 $77 $41 $— $— Entergy Louisiana ($203 ) ($160 ) ($247 ) ($25 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($34 ) ($20 ) ($24 ) ($21 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— ($1 ) ($25 ) $— ($15 ) ($15 ) Entergy Texas ($41 ) ($65 ) ($119 ) $— $— $— $15 $15 |
Entergy Arkansas [Member] | FERC May 2018 Bandwidth True-up Orders [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | Entergy filed in May 2018 the bandwidth true-up payments and receipts for the 2011-2014 rate filings (table does not net to zero due to rounding): Payments (Receipts) (In Millions) Entergy Arkansas $3 Entergy Louisiana $3 Entergy Mississippi ($1) Entergy New Orleans $1 Entergy Texas ($5) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Tax Cuts and Jobs Act [Table Text Block] | For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orleans $14 $13 Entergy Texas $87 $15 System Energy $7 $80 |
Income Tax Expenses From Continuing Operations | Income taxes for 2019 , 2018 , and 2017 for Entergy Corporation and Subsidiaries consist of the following: 2019 2018 2017 (In Thousands) Current: Federal ($14,416 ) $36,848 $29,595 State 6,535 7,274 15,478 Total (7,881 ) 44,122 45,073 Deferred and non-current - net (155,956 ) (1,074,416 ) 505,010 Investment tax credit adjustments - net (5,988 ) (6,532 ) (7,513 ) Income taxes ($169,825 ) ($1,036,826 ) $542,570 |
Total Income Taxes For Entergy Corporation And Subsidiaries | The reasons for the differences for the years 2019 , 2018 , and 2017 are: 2019 2018 2017 (In Thousands) Net income (loss) attributable to Entergy Corporation $1,241,226 $848,661 $411,612 Preferred dividend requirements of subsidiaries 17,018 13,894 13,741 Consolidated net income (loss) 1,258,244 862,555 425,353 Income taxes (169,825 ) (1,036,826 ) 542,570 Income (loss) before income taxes $1,088,419 ($174,271 ) $967,923 Computed at statutory rate (21% for 2019 and 2018) (35% for 2017) $228,568 ($36,597 ) $338,773 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 61,791 21,398 44,179 Regulatory differences - utility plant items (45,336 ) (37,507 ) 39,825 Equity component of AFUDC (30,444 ) (27,216 ) (33,282 ) Amortization of investment tax credits (8,093 ) (8,304 ) (10,204 ) Flow-through / permanent differences (2,059 ) 439 8,727 Tax legislation enactment (a) — — 560,410 Amortization of excess ADIT (a) (205,614 ) (577,082 ) — Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding — (40,494 ) — Utility restructuring (b) — (169,918 ) — Settlement on treatment of regulatory obligations (c) — (52,320 ) — State income tax audit conclusion — (23,425 ) — IRS audit adjustment — (8,404 ) — Entergy Wholesale Commodities nuclear decommissioning trust restructuring (d) — (106,833 ) — Entergy Wholesale Commodities restructuring (d) (173,725 ) — (373,277 ) FitzPatrick disposition — — (44,344 ) Charitable contribution (d) (19,101 ) — — Net operating loss recognition (41,427 ) — — Provision for uncertain tax positions 7,332 24,569 8,756 Valuation allowance 59,345 2,211 — Other - net (1,062 ) 2,657 3,007 Total income taxes as reported ($169,825 ) ($1,036,826 ) $542,570 Effective Income Tax Rate (15.6 %) 595.0 % 56.1 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (b) See “ Other Tax Matters - Entergy Arkansas and Entergy Mississippi Internal Restructuring ” below for discussion of the Utility restructuring. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement. (d) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities nuclear decommissioning trust restructuring in 2018, the Entergy Wholesale Commodities restructurings in 2017 and 2019, and the charitable contribution in 2019. |
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, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($4,111,761 ) ($3,835,211 ) Regulatory assets (389,573 ) (370,484 ) Nuclear decommissioning trusts/receivables (1,015,542 ) (1,128,140 ) Pension, net funding (348,260 ) (307,626 ) Combined unitary state taxes (11,519 ) (9,440 ) Power purchase agreements — (73,335 ) Deferred fuel (8,360 ) (29,953 ) Other (445,378 ) (248,997 ) Total (6,330,393 ) (6,003,186 ) Deferred tax assets: Nuclear decommissioning liabilities 929,251 1,070,583 Regulatory liabilities 806,777 895,756 Pension and other post-employment benefits 297,272 305,736 Sale and leaseback 102,420 121,473 Compensation 87,355 86,461 Accumulated deferred investment tax credit 56,013 57,643 Provision for allowances and contingencies 126,886 135,631 Power purchase agreements 231,502 — Unbilled/deferred revenues (10,218 ) 43,762 Net operating loss carryforwards 1,133,197 628,165 Capital losses and miscellaneous tax credits 22,597 20,549 Valuation allowance (303,307 ) (243,726 ) Other 289,557 125,522 Total 3,769,302 3,247,555 Non-current accrued taxes (including unrecognized tax benefits) (1,775,638 ) (1,296,928 ) Accumulated deferred income taxes and taxes accrued ($4,336,729 ) ($4,052,559 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2019 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses before 1/1/2018 $9.8 billion 2023-2037 Federal net operating losses - 1/1/2018 forward $10.7 billion N/A State net operating losses $20.8 billion 2020-2039 Federal and state charitable contributions $395.8 million 2020-2024 Miscellaneous federal and state credits $101.1 million 2020-2038 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2019 2018 2017 (In Thousands) Gross balance at January 1 $7,181,482 $4,871,846 $3,909,855 Additions based on tax positions related to the current year 731,276 2,276,614 1,120,687 Additions for tax positions of prior years 151,628 506,142 283,683 Reductions for tax positions of prior years (681,232 ) (274,600 ) (442,379 ) Settlements — (198,520 ) — Gross balance at December 31 7,383,154 7,181,482 4,871,846 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (5,831,587 ) (5,957,992 ) (3,945,524 ) Cash paid to taxing authorities (10,000 ) (10,000 ) (10,000 ) Unrecognized tax benefits net of unused tax attributes, refund claims and payments (a) $1,541,567 $1,213,490 $916,322 (a) Potential tax liability above what is payable on tax returns |
Entergy Arkansas [Member] | |
Tax Cuts and Jobs Act [Table Text Block] | For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orleans $14 $13 Entergy Texas $87 $15 System Energy $7 $80 |
Income Tax Expenses From Continuing Operations | Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 |
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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. |
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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) |
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, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 |
Summary of Interest on Income Taxes Expense Related to Unrecognized Tax Benefits | Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 |
Entergy Louisiana [Member] | |
Tax Cuts and Jobs Act [Table Text Block] | For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orleans $14 $13 Entergy Texas $87 $15 System Energy $7 $80 |
Income Tax Expenses From Continuing Operations | Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 |
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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. |
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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) |
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, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 |
Summary of Interest on Income Taxes Expense Related to Unrecognized Tax Benefits | Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 |
Entergy Mississippi [Member] | |
Tax Cuts and Jobs Act [Table Text Block] | For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orleans $14 $13 Entergy Texas $87 $15 System Energy $7 $80 |
Income Tax Expenses From Continuing Operations | Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 |
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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. |
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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) |
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, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 |
Summary of Interest on Income Taxes Expense Related to Unrecognized Tax Benefits | Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 |
Entergy New Orleans [Member] | |
Tax Cuts and Jobs Act [Table Text Block] | For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orleans $14 $13 Entergy Texas $87 $15 System Energy $7 $80 |
Income Tax Expenses From Continuing Operations | Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 |
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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. |
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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) |
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, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 |
Summary of Interest on Income Taxes Expense Related to Unrecognized Tax Benefits | Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 |
Entergy Texas [Member] | |
Tax Cuts and Jobs Act [Table Text Block] | For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orleans $14 $13 Entergy Texas $87 $15 System Energy $7 $80 |
Income Tax Expenses From Continuing Operations | Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 |
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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. |
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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) |
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, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 |
Summary of Interest on Income Taxes Expense Related to Unrecognized Tax Benefits | Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 |
System Energy [Member] | |
Tax Cuts and Jobs Act [Table Text Block] | For the same reasons, the Registrant Subsidiaries’ December 31, 2019 and December 31, 2018 balance sheets reflect net regulatory liabilities for income taxes as follows: 2019 2018 (In Millions) Entergy Arkansas $487 $605 Entergy Louisiana $531 $612 Entergy Mississippi $237 $246 Entergy New Orleans $59 $86 Entergy Texas $253 $352 System Energy $143 $163 Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will amortize the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes protected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $490 $521 Entergy Louisiana $797 $812 Entergy Mississippi $261 $271 Entergy New Orleans $62 $59 Entergy Texas $228 $237 System Energy $186 $202 During the second quarter of 2018, the Registrant Subsidiaries began paying unprotected excess accumulated deferred income taxes, associated with the effects of the Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Payment of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The Registrant Subsidiaries’ net regulatory liability for income taxes as of December 31, 2019 and December 31, 2018, includes unprotected excess ADIT as follows: 2019 2018 (In Millions) Entergy Arkansas $9 $117 Entergy Louisiana $242 $295 Entergy New Orleans $9 $25 Entergy Texas $83 $171 System Energy $— $4 The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows for 2019 and 2018: 2019 2018 (In Millions) Entergy $273 $776 Entergy Arkansas $126 $368 Entergy Louisiana $39 $141 Entergy Mississippi $— $159 Entergy New Orleans $14 $13 Entergy Texas $87 $15 System Energy $7 $80 |
Income Tax Expenses From Continuing Operations | Income taxes for 2019 , 2018 , and 2017 for Entergy’s Registrant Subsidiaries consist of the following: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,549 ) ($20,173 ) ($8,939 ) ($5,822 ) $16,035 $16,256 State (714 ) (735 ) 5,823 1,856 663 (2,831 ) Total (15,263 ) (20,908 ) (3,116 ) (3,966 ) 16,698 13,425 Deferred and non-current - net (30,278 ) 147,453 34,579 4,248 (69,963 ) 422 Investment tax credit adjustments - net (1,228 ) (4,922 ) (597 ) (96 ) (631 ) 1,502 Income taxes ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($23,638 ) ($15,841 ) ($11,275 ) ($10,813 ) $16,190 ($9,786 ) State (1,617 ) (1,122 ) (1,066 ) 545 3,205 (1,821 ) Total (25,255 ) (16,963 ) (12,341 ) (10,268 ) 19,395 (11,607 ) Deferred and non-current - net (270,586 ) (32,725 ) (114,738 ) 7,943 (44,817 ) (35,329 ) Investment tax credit adjustments - net (1,226 ) (4,923 ) 1,306 (111 ) (821 ) (739 ) Income taxes ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 |
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 2019 , 2018 , and 2017 are: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $262,964 $691,537 $119,925 $52,629 $159,397 $99,120 Income taxes (46,769 ) 121,623 30,866 186 (53,896 ) 15,349 Pretax income $216,195 $813,160 $150,791 $52,815 $105,501 $114,469 Computed at statutory rate (21%) $45,401 $170,764 $31,666 $11,091 $22,155 $24,039 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 15,954 42,854 5,563 3,443 360 5,134 Regulatory differences - utility plant items (10,627 ) (19,421 ) (5,556 ) (1,532 ) (1,987 ) (6,213 ) Equity component of AFUDC (3,255 ) (15,545 ) (1,755 ) (2,088 ) (5,973 ) (1,829 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (88 ) (617 ) (1,155 ) Flow-through / permanent differences 696 439 160 (741 ) 560 (500 ) Amortization of excess ADIT (b) (90,921 ) (28,531 ) 203 (11,724 ) (69,091 ) (5,550 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions (3,517 ) 1,519 500 1,672 430 1,300 Other - net 701 1,210 245 153 267 123 Total income taxes as reported ($46,769 ) $121,623 $30,866 $186 ($53,896 ) $15,349 Effective Income Tax Rate (21.6 %) 15.0 % 20.5 % 0.4 % (51.1 %) 13.4 % 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $252,707 $675,614 $126,078 $53,152 $162,235 $94,109 Income taxes (297,067 ) (54,611 ) (125,773 ) (2,436 ) (26,243 ) (47,675 ) Pretax income ($44,360 ) $621,003 $305 $50,716 $135,992 $46,434 Computed at statutory rate (21%) ($9,316 ) $130,411 $64 $10,650 $28,558 $9,751 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect (794 ) 26,031 (1,747 ) 2,322 2,576 2,812 Regulatory differences - utility plant items (14,916 ) (12,604 ) (4,103 ) (1,502 ) (1,872 ) (2,510 ) Equity component of AFUDC (3,477 ) (16,784 ) (1,829 ) (1,248 ) (2,042 ) (1,837 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (109 ) (808 ) (1,155 ) Flow-through / permanent differences 570 3,203 1,893 (4,222 ) 1,038 2,815 Revisions of the 2017 tax legislation enactment regulatory liability accrual, including the effect of the Entergy Texas 2018 base rate proceeding (a) 933 (2,810 ) (556 ) 884 (43,799 ) (3,565 ) Amortization of excess ADIT (b) (271,570 ) (104,313 ) (120,831 ) (9,878 ) (11,519 ) (58,971 ) Settlement on treatment of regulatory obligations (c) — (52,320 ) — — — — IRS audit adjustment 1,290 1,097 1,018 (96 ) 524 (12 ) Non-taxable dividend income — (26,795 ) — — — — Provision for uncertain tax positions 724 3,949 240 613 839 4,876 Other - net 690 1,195 238 150 262 121 Total income taxes as reported ($297,067 ) ($54,611 ) ($125,773 ) ($2,436 ) ($26,243 ) ($47,675 ) Effective Income Tax Rate 669.7 % (8.8 %) (41,237.0 %) (4.8 %) (19.3 %) (102.7 %) 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (b) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % (a) See Note 2 to the financial statements for discussion of the Entergy Texas rate case settlement. (b) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the amortization of excess ADIT in 2018 and 2019 and the tax legislation enactment in 2017. (c) See “ Income Tax Audits - 2012-2013 IRS Audit ” below for discussion of the settlement for Entergy Louisiana. |
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, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($979,033 ) ($1,987,025 ) ($565,202 ) ($133,073 ) ($551,365 ) ($380,594 ) Regulatory assets (170,949 ) (79,117 ) (10,528 ) (16,867 ) (59,745 ) (52,662 ) Nuclear decommissioning trusts/receivables (120,306 ) (113,830 ) — — — (100,621 ) Pension, net funding (102,685 ) (98,743 ) (27,325 ) (11,859 ) (19,961 ) (21,609 ) Deferred fuel — (2,637 ) (609 ) (666 ) (4,380 ) (55 ) Other (82,682 ) (94,139 ) (27,905 ) (25,909 ) 2,059 (7,350 ) Total (1,455,655 ) (2,375,491 ) (631,569 ) (188,374 ) (633,392 ) (562,891 ) Deferred tax assets: Regulatory liabilities 250,410 283,507 53,421 33,258 65,602 121,011 Nuclear decommissioning liabilities 111,078 56,300 — — — 52,633 Pension and other post-employment benefits (21,828 ) 74,881 (5,844 ) (12,666 ) (15,406 ) (898 ) Sale and leaseback — — — — — 102,480 Accumulated deferred investment tax credit 8,285 32,534 2,396 556 2,217 10,025 Provision for allowances and contingencies 5,365 77,298 12,963 24,022 4,024 — Power purchase agreements (15,087 ) 18,004 1,147 7,961 26 — Unbilled/deferred revenues 5,897 (28,081 ) 4,715 1,428 5,544 — Compensation 2,550 3,670 1,625 496 1,282 75 Net operating loss carryforwards 112,658 65,178 21,492 5,056 — — Capital losses and miscellaneous tax credits — — 45 — — 7,857 Other 12,541 35,401 999 9,027 2,004 3 Total 471,869 618,692 92,959 69,138 65,293 293,186 Non-current accrued taxes (including unrecognized tax benefits) (199,340 ) (707,714 ) (56,222 ) (235,300 ) (17,314 ) (544,235 ) Accumulated deferred income taxes and taxes accrued ($1,183,126 ) ($2,464,513 ) ($594,832 ) ($354,536 ) ($585,413 ) ($813,940 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($966,791 ) ($1,893,831 ) ($579,319 ) ($135,143 ) ($544,282 ) ($403,809 ) Regulatory assets (169,482 ) (74,917 ) (1,732 ) (20,009 ) (57,777 ) (46,627 ) Nuclear decommissioning trusts/receivables (77,664 ) (71,470 ) — — — (86,882 ) Pension, net funding (91,962 ) (92,693 ) (24,398 ) (11,885 ) (20,331 ) (18,898 ) Deferred fuel (5,801 ) (6,974 ) (11,819 ) (1,701 ) (2,835 ) (312 ) Other (41,025 ) (34,700 ) (13,443 ) (7,640 ) (6,085 ) (4,544 ) Total (1,352,725 ) (2,174,585 ) (630,711 ) (176,378 ) (631,310 ) (561,072 ) Deferred tax assets: Regulatory liabilities 247,964 339,126 72,570 40,181 86,032 110,370 Nuclear decommissioning liabilities 99,479 48,738 — — — 46,643 Pension and other post-employment benefits (19,068 ) 80,102 (5,405 ) (11,371 ) (14,215 ) (632 ) Sale and leaseback — 18,999 — — — 102,481 Accumulated deferred investment tax credit 8,599 33,928 2,541 579 2,347 9,649 Provision for allowances and contingencies 9,877 81,108 13,412 23,962 5,579 — Power purchase agreements (17,223 ) 19,385 1,140 12,155 (18 ) — Unbilled/deferred revenues 7,471 (17,345 ) 5,527 636 7,016 — Compensation 1,708 1,959 1,265 512 995 (260 ) Net operating loss carryforwards 6,338 20,118 4,896 480 261 — Other 7,977 23,412 1,610 12,181 2,127 4 Total 353,122 649,530 97,556 79,315 90,124 268,255 Non-current accrued taxes (including unrecognized tax benefits) (85,942 ) (701,666 ) (18,714 ) (226,532 ) (11,349 ) (512,479 ) Accumulated deferred income taxes and taxes accrued ($1,085,545 ) ($2,226,721 ) ($551,869 ) ($323,595 ) ($552,535 ) ($805,296 ) |
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, 2019 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $4.4 billion $4.3 billion $2 billion $1.1 billion $— $— Year(s) of expiration N/A 2035-2037 N/A 2037 N/A N/A State net operating losses $4.5 billion $5.2 billion $2.1 billion $1.2 billion $— $— Year(s) of expiration 2024 2035-2039 2038-2039 2038-2039 N/A N/A Misc. federal credits $— $5.2 million $— $— $1.9 million $3.2 million Year(s) of expiration N/A 2035-2038 N/A N/A 2029-2038 2029-2038 State credits $— $— $— $— $2.9 million $13.1 million Year(s) of expiration N/A N/A N/A N/A 2026 2020-2023 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2019 , 2018 , and 2017 is as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2019 $1,298,662 $2,400,171 $508,765 $686,687 $17,802 $467,487 Additions based on tax positions related to the current year 84,335 28,705 68,594 40,676 2,312 5,496 Additions for tax positions of prior years 20,399 25,090 1,651 489 1,299 2,186 Reductions for tax positions of prior years (62,154 ) (72,313 ) (12,723 ) (11,079 ) (7 ) (1,838 ) Gross balance at December 31, 2019 1,341,242 2,381,653 566,287 716,773 21,406 473,331 Offsets to gross unrecognized tax benefits: Loss carryovers (1,134,187 ) (1,573,257 ) (506,976 ) (445,430 ) (3,944 ) (8,392 ) Unrecognized tax benefits net of unused tax attributes and payments $207,055 $808,396 $59,311 $271,343 $17,462 $464,939 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2018 ($117,716 ) $2,518,457 $15,122 $679,544 $16,399 $445,511 Additions based on tax positions related to the current year (a) 1,430,828 30,577 493,039 2,261 1,978 18,271 Additions for tax positions of prior years 31,612 77,372 3,878 12,972 1,722 7,255 Reductions for tax positions of prior years (21,619 ) (158,510 ) (3,253 ) (8,081 ) (2,262 ) (3,253 ) Settlements (24,443 ) (67,725 ) (21 ) (9 ) (35 ) (297 ) Gross balance at December 31, 2018 1,298,662 2,400,171 508,765 686,687 17,802 467,487 Offsets to gross unrecognized tax benefits: Loss carryovers (1,173,839 ) (1,597,826 ) (478,268 ) (420,813 ) (3,199 ) (42,228 ) Unrecognized tax benefits net of unused tax attributes and payments $124,823 $802,345 $30,497 $265,874 $14,603 $425,259 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 (a) The primary additions for Entergy Mississippi in 2018, and Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The primary additions for Entergy Arkansas in 2018 are related to the nuclear decommissioning costs treatment and the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $203.3 $85.4 $2.6 Entergy Louisiana $556.3 $594.0 $575.8 Entergy Mississippi $1.9 $1.5 $— Entergy New Orleans $242.7 $246.2 $31.7 Entergy Texas $5.7 $5.1 $4.4 System Energy $— $— $— |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest related to unrecognized tax benefits are as follows: December 31, 2019 2018 2017 (In Millions) Entergy Arkansas $3.1 $1.7 $1.6 Entergy Louisiana $14.2 $17.9 $14.1 Entergy Mississippi $1.7 $1.2 $1.0 Entergy New Orleans $4.7 $2.7 $2.1 Entergy Texas $1.1 $0.9 $0.4 System Energy $14.5 $13.2 $8.5 |
Summary of Interest on Income Taxes Expense Related to Unrecognized Tax Benefits | Interest (net-of-tax) was recorded as follows: 2019 2018 2017 (In Millions) Entergy Arkansas $1.4 $0.2 $0.2 Entergy Louisiana ($3.7 ) $3.8 $5.7 Entergy Mississippi $0.5 $0.2 $0.2 Entergy New Orleans $2.0 $0.6 $0.6 Entergy Texas $0.2 $0.5 ($0.8 ) System Energy $1.3 $4.7 $4.8 |
Revolving Credit Facilities, _2
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $440 $6 $3,054 |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. |
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, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million |
Entergy Arkansas [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. |
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, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million |
Entergy Louisiana [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. |
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, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million |
Entergy Mississippi [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Entergy New Orleans [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Entergy Texas [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2019 Letters of Credit Outstanding as of December 31, 2019 Entergy Arkansas April 2020 $20 million (b) 2.92% — — Entergy Arkansas September 2024 $150 million (c) 2.92% — — Entergy Louisiana September 2024 $350 million (c) 2.92% — — Entergy Mississippi May 2020 $10 million (d) 3.30% — — Entergy Mississippi May 2020 $35 million (d) 3.30% — — Entergy Mississippi May 2020 $37.5 million (d) 3.30% — — Entergy New Orleans November 2021 $25 million (c) 2.92% $20 million $0.8 million Entergy Texas September 2024 $150 million (c) 3.30% — $1.3 million (a) The interest rate is the estimated interest rate as of December 31, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2019 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $12.3 million Entergy Mississippi $64 million 0.70% $1.8 million Entergy New Orleans $15 million 1.00% $5.6 million Entergy Texas $50 million 0.70% $12.1 million (a) As of December 31, 2019, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Mississippi. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
System Energy [Member] | |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $22 Entergy Louisiana $450 $83 Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.33% $15.1 Entergy Louisiana River Bend VIE September 2021 $105 3.23% $70.3 Entergy Louisiana Waterford VIE September 2021 $105 3.30% $49.9 System Energy VIE September 2021 $120 3.34% $31.6 (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. |
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, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million |
Long - Term Debt (Tables)
Long - Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule Of Long-Term Debt | Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2019 and 2018 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2019 Interest Rate Ranges at December 31, Outstanding at December 31, 2019 2018 2019 2018 (In Thousands) Mortgage Bonds 2019-2023 3.65% 2.55%-5.10% 2.55%-7.125% $2,400,000 $3,050,000 2024-2028 3.59% 2.40%-5.59% 2.40%-5.59% 4,610,000 4,610,000 2029-2039 4.05% 3.05%-4.52% 3.05%-4.52% 1,890,000 1,190,000 2044-2066 4.63% 3.55%-5.625% 4.20%-5.625% 5,170,000 3,560,000 Governmental Bonds (a) 2021-2022 2.48% 2.375%-2.50% 2.375%-5.875% 179,000 179,000 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2021-2027 3.73% 2.04%-5.93% 2.04%-5.93% 302,145 429,118 Variable Interest Entities Notes Payable (Note 4) 2020-2023 3.41% 3.17%-3.92% 3.17%-3.92% 360,000 360,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 Entergy New Orleans Unsecured Term Loan n/a 3.00% — 70,000 — 5 Year Credit Facility (Note 4) n/a 3.77% 3.60% 440,000 220,000 Entergy New Orleans Credit Facility (Note 4) n/a 2.92% — 20,000 — Vermont Yankee Credit Facility (Note 4) n/a 3.93% 3.50% 139,000 139,000 Entergy Arkansas VIE Credit Facility (Note 4) n/a 3.33% 3.48% 15,100 59,600 Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 3.23% 3.44% 70,300 38,600 Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 3.30% 3.35% 49,900 82,000 System Energy VIE Credit Facility (Note 4) n/a 3.34% 3.44% 31,600 113,900 Long-term DOE Obligation (b) — — — 191,114 186,864 Grand Gulf Sale-Leaseback Obligation n/a — — 34,346 34,352 Unamortized Premium and Discount - Net (16,124 ) (14,784 ) Unamortized Debt Issuance Costs (143,502 ) (130,612 ) Other 12,096 12,594 Total Long-Term Debt 17,873,655 16,168,312 Less Amount Due Within One Year 795,012 650,009 Long-Term Debt Excluding Amount Due Within One Year $17,078,643 $15,518,303 Fair Value of Long-Term Debt $19,059,950 $16,101,455 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. |
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, 2019 , for the next five years are as follows: Amount (In Thousands) 2020 $795,000 2021 $1,358,159 2022 $1,104,289 2023 $1,865,154 2024 $1,175,000 |
Entergy Arkansas [Member] | |
Schedule Of Long-Term Debt | 2019 2018 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 600,000 4.0% Series due June 2028 250,000 250,000 4.95% Series due December 2044 250,000 250,000 4.20% Series due April 2049 350,000 — 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 3,160,000 2,810,000 Governmental Bonds (a): 2.375% Series due 2021, Independence County (c) 45,000 45,000 Total governmental bonds 45,000 45,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due September 2021, weighted avg rate 3.33% 15,100 59,600 Total variable interest entity notes payable and credit facility 145,100 189,600 Securitization Bonds: 2.30% Series Senior Secured due August 2021 7,259 21,692 Total securitization bonds 7,259 21,692 Other: Long-term DOE Obligation (b) 191,114 186,864 Unamortized Premium and Discount – Net 1,664 4,408 Unamortized Debt Issuance Costs (34,936 ) (33,831 ) Other 2,007 2,026 Total Long-Term Debt 3,517,208 3,225,759 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $3,517,208 $3,225,759 Fair Value of Long-Term Debt $3,747,914 $3,189,491 |
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, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— |
Entergy Louisiana [Member] | |
Schedule Of Long-Term Debt | 2019 2018 (In Thousands) Entergy Louisiana Mortgage Bonds: 3.95% Series due October 2020 $250,000 $250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 450,000 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 4.0% Series due March 2033 750,000 750,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 4.20% Series due September 2048 600,000 600,000 4.20% Series due April 2050 525,000 — 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 6,890,000 6,365,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (c) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (c) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due September 2021, weighted avg rate 3.23% 70,300 38,600 Credit Facility due September 2021, weighted avg rate 3.30% 49,900 82,000 Total variable interest entity notes payable and credit facilities 250,200 250,600 Securitization Bonds: 2.04% Series Senior Secured due September 2023 34,185 56,910 Total securitization bonds 34,185 56,910 Other: Unamortized Premium and Discount - Net (17,372 ) (14,955 ) Unamortized Debt Issuance Costs (58,089 ) (57,011 ) Other 6,065 6,544 Total Long-Term Debt 7,303,669 6,805,768 Less Amount Due Within One Year 320,002 2 Long-Term Debt Excluding Amount Due Within One Year $6,983,667 $6,805,766 Fair Value of Long-Term Debt $7,961,168 $6,834,134 |
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, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— |
Entergy Mississippi [Member] | |
Schedule Of Long-Term Debt | 2019 2018 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $— $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 150,000 2.85% Series due June 2028 375,000 375,000 4.52% Series due December 2038 55,000 55,000 3.85% Series due June 2049 435,000 — 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,625,000 1,340,000 Other: Unamortized Premium and Discount – Net 6,127 (989 ) Unamortized Debt Issuance Costs (16,998 ) (13,261 ) Total Long-Term Debt 1,614,129 1,325,750 Less Amount Due Within One Year — 150,000 Long-Term Debt Excluding Amount Due Within One Year $1,614,129 $1,175,750 Fair Value of Long-Term Debt $1,709,505 $1,276,452 |
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, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— |
Entergy New Orleans [Member] | |
Schedule Of Long-Term Debt | 2019 2018 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 4.51% Series due September 2033 60,000 60,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 410,000 410,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 54,443 65,666 Total securitization bonds 54,443 65,666 Other: 3.0% Unsecured Term Loan due May 2022 70,000 — Credit Facility due November 2021, weighted avg rate 2.92% 20,000 — Payable to associated company due November 2035 14,367 16,346 Unamortized Premium and Discount – Net (129 ) (168 ) Unamortized Debt Issuance Costs (7,775 ) (8,140 ) Total Long-Term Debt 560,906 483,704 Less Amount Due Within One Year 26,838 1,979 Long-Term Debt Excluding Amount Due Within One Year $534,068 $481,725 Fair Value of Long-Term Debt $523,846 $491,569 |
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, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— |
Entergy Texas [Member] | |
Schedule Of Long-Term Debt | 2019 2018 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $— $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 150,000 4.0% Series due March 2029 300,000 — 4.5% Series due March 2039 400,000 — 5.15% Series due June 2045 250,000 250,000 3.55% Series due September 2049 300,000 — 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,735,000 1,235,000 Securitization Bonds: 5.93% Series Senior Secured, Series A due June 2022 50,289 81,237 4.38% Series Senior Secured, Series A due November 2023 155,969 203,613 Total securitization bonds 206,258 284,850 Other: Unamortized Premium and Discount - Net (4,814 ) (992 ) Unamortized Debt Issuance Costs (17,510 ) (9,145 ) Other 4,022 4,022 Total Long-Term Debt 1,922,956 1,513,735 Less Amount Due Within One Year — 500,000 Long-Term Debt Excluding Amount Due Within One Year $1,922,956 $1,013,735 Fair Value of Long-Term Debt $2,090,215 $1,528,828 |
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, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— |
System Energy [Member] | |
Future Minimum Lease Payments Sale Leaseback Transactions | As of December 31, 2019 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2020 $17,188 2021 17,188 2022 17,188 2023 17,188 2024 17,188 Years thereafter 206,250 Total 292,190 Less: Amount representing interest 257,844 Present value of net minimum lease payments $34,346 As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Schedule Of Long-Term Debt | 2019 2018 (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 2.5% Series due 2022, Mississippi Business Finance Corp. 134,000 — Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 3.42% Series J due April 2021 100,000 100,000 Credit Facility due September 2021, weighted avg rate 3.34% 31,600 113,900 Total variable interest entity notes payable and credit facility 131,600 213,900 Other: Grand Gulf Sale-Leaseback Obligation 34,346 34,352 Unamortized Premium and Discount – Net (144 ) (328 ) Unamortized Debt Issuance Costs (1,697 ) (1,176 ) Other 2 2 Total Long-Term Debt 548,107 630,750 Less Amount Due Within One Year 10 6 Long-Term Debt Excluding Amount Due Within One Year $548,097 $630,744 Fair Value of Long-Term Debt $565,209 $630,475 |
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, 2019 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2020 $— $320,000 $— $25,000 $— $— 2021 $507,359 $360,200 $— $20,000 $200,000 $131,600 2022 $— $200,000 $— $70,000 $50,289 $134,000 2023 $290,000 $379,185 $250,000 $100,000 $155,969 $250,000 2024 $375,000 $700,000 $100,000 $— $— $— |
Preferred Equity (Tables)
Preferred Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock | 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, 2019 and 2018 are presented below. Shares/Units Authorized Shares/Units Outstanding 2019 2018 2019 2018 2019 2018 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 $107,425 $107,425 Entergy Utility Holding Company, LLC, 6.25% Series (b) 15,000 15,000 15,000 15,000 14,366 14,366 Entergy Utility Holding Company, LLC, 6.75% Series (c) 75,000 75,000 75,000 75,000 73,370 73,362 Entergy Texas, 5.375% Series 1,400,000 — 1,400,000 — 35,000 — Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 1,600,000 200,000 1,600,000 200,000 230,161 195,153 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (d) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock or Preferred Membership Interests without sinking fund 1,850,000 450,000 1,850,000 450,000 $254,410 $219,402 (a) In October 2015, Entergy Utility Holding Company, LLC issued 110,000 units of $1,000 liquidation value 7.5% Series A Preferred Membership Interests, all of which are outstanding as of December 31, 2019. The distributions are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per unit. Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) In November 2017, Entergy Utility Holding Company, LLC issued 15,000 units of $1,000 liquidation value 6.25% Series B Preferred Membership Interests, all of which are outstanding as of December 31, 2019. The distributions are cumulative and payable quarterly. These units are redeemable on or after February 28, 2038, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per unit. Dollar amount outstanding is net of $634 thousand of preferred stock issuance costs. (c) In November 2018, Entergy Utility Holding Company, LLC issued 75,000 units of $1,000 liquidation value 6.75% Series C Preferred Membership Interests, all of which are outstanding as of December 31, 2019. The distributions are cumulative and payable quarterly. These units are redeemable on or after February 28, 2039, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per unit. Dollar amount outstanding is net of $1,630 thousand of preferred stock issuance costs. (d) 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, 2019. 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. Dollar amount outstanding is net of $751 thousand |
Entergy Texas [Member] | |
Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock | The number of shares authorized and outstanding and dollar value of preferred stock for Entergy Texas as of December 31, 2019 and 2018 are presented below. Shares Authorized and Outstanding Call Price per Share as of December 31, 2019 2018 2019 2018 2019 Entergy Texas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $25 par value: 5.375% Series (a) 1,400,000 — $35,000 $— $— Total without sinking fund 1,400,000 — $35,000 $— (a) In September 2019, Entergy Texas issued $35 million of 5.375% Series A Preferred Stock, a total of 1,400,000 shares with a liquidation value of $25 per share, all of which are outstanding as of December 31, 2019. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after October 15, 2024 at Entergy Texas’s option, at a fixed redemption price of $25 per share. |
Common Equity (Tables)
Common Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Common Stock and Treasury Stock Shares Activity Roll Forward | Common stock and treasury stock shares activity for Entergy for 2019 , 2018 , and 2017 is as follows: 2019 2018 2017 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 261,587,009 72,530,866 254,752,788 74,235,135 254,752,788 75,623,363 Issuances: Equity forwards settled 8,448,171 — 6,834,221 — — — Employee Stock-Based Compensation Plans — (1,624,358 ) — (1,683,174 ) — (1,377,363 ) Directors’ Plan — (20,108 ) — (21,095 ) — (10,865 ) Ending Balance, December 31 270,035,180 70,886,400 261,587,009 72,530,866 254,752,788 74,235,135 |
Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2019 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 191,147 (93,696 ) 32,914 130,365 Amounts reclassified from accumulated other comprehensive income (loss) (76,121 ) 68,546 (5,731 ) (13,306 ) Net other comprehensive income (loss) for the period 115,026 (25,150 ) 27,183 117,059 Ending balance, December 31, 2019 $84,206 ($557,072 ) $25,946 ($446,920 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2018 by component: Cash flow Pension Total (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,933 ) 26,702 (46,574 ) (51,805 ) Amounts reclassified from accumulated other comprehensive income (loss) 54,031 63,441 17,803 135,275 Net other comprehensive income (loss) for the period 22,098 90,143 (28,771 ) 83,470 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) |
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, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $96,549 ($68,067 ) Competitive business operating revenues Interest rate swaps (194 ) (327 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 96,355 (68,394 ) Income taxes (20,234 ) 14,363 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $76,121 ($54,031 ) Pension and other postretirement liabilities Amortization of prior-service costs $21,300 $21,700 (a) Amortization of loss (83,246 ) (99,186 ) (a) Settlement loss (25,155 ) (3,207 ) (a) Total (87,101 ) (80,693 ) Income taxes 18,555 17,252 Income taxes Total amortization and settlement loss (net of tax) ($68,546 ) ($63,441 ) Net unrealized investment gain (loss) Realized gain (loss) $9,069 ($28,170 ) Interest and investment income Income taxes (3,338 ) 10,367 Income taxes Total realized investment gain (loss) (net of tax) $5,731 ($17,803 ) Total reclassifications for the period (net of tax) $13,306 ($135,275 ) (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, 2019: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2019 ($6,153 ) Other comprehensive income (loss) before reclassifications 14,591 Amounts reclassified from accumulated other comprehensive income (loss) (3,876 ) Net other comprehensive income (loss) for the period 10,715 Ending balance, December 31, 2019 $4,562 The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2018: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2018 ($46,400 ) Other comprehensive income (loss) before reclassifications 52,299 Amounts reclassified from accumulated other comprehensive income (loss) (2,003 ) Net other comprehensive income (loss) for the period 50,296 Reclassification pursuant to ASU 2018-02 ($10,049 ) Ending balance, December 31, 2018 ($6,153 ) |
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, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,349 $7,735 (a) Amortization of loss (2,106 ) (5,025 ) (a) Total amortization 5,243 2,710 Income taxes (1,367 ) (707 ) Income taxes Total amortization (net of tax) 3,876 2,003 Total reclassifications for the period (net of tax) $3,876 $2,003 (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, 2019 | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— |
Entergy Arkansas [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— |
Entergy Louisiana [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— |
Entergy Mississippi [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— |
Entergy New Orleans [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— |
Entergy Texas [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— |
System Energy [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2019, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $36.2 Entergy Louisiana $51.5 Entergy Mississippi $0.12 Entergy New Orleans $0.12 Entergy Texas N/A System Energy $24.1 Entergy Wholesale Commodities $— |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. |
Entergy Arkansas [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. |
Entergy Louisiana [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. |
Entergy Mississippi [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. |
Entergy New Orleans [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. |
Entergy Texas [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. |
System Energy [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2019 2018 (In Millions) Entergy Arkansas $168.9 $138.3 Entergy Louisiana ($2.4) ($18.8) Entergy Mississippi $80.8 $63.5 Entergy New Orleans $52.9 $49.3 Entergy Texas $42.5 $50.9 System Energy $75.9 $76.4 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2019 and 2018 by Entergy were as follows: Liabilities as Accretion Change in Spending Dispositions Liabilities as (In Millions) Entergy $6,923.4 $414.0 $273.7 ($45.6 ) ($1,406.3 ) $6,159.2 Utility Entergy Arkansas 1,048.4 68.0 126.2 — — 1,242.6 Entergy Louisiana 1,280.3 69.5 147.5 — — 1,497.3 Entergy Mississippi 9.2 0.5 — — — 9.7 Entergy New Orleans 3.3 0.2 — — — 3.5 Entergy Texas 7.2 0.4 — — — 7.6 System Energy 896.0 35.7 — — — 931.7 Entergy Wholesale Commodities Big Rock Point 39.7 3.2 — (2.6 ) — 40.3 Indian Point 1 227.9 19.5 — (8.8 ) — 238.6 Indian Point 2 768.0 65.5 — (4.5 ) — 829.0 Indian Point 3 750.6 62.5 — (4.7 ) — 808.4 Palisades 508.0 42.9 — (1.1 ) — 549.8 Pilgrim 816.5 44.1 — (23.9 ) (836.7 ) (b) — Vermont Yankee 567.9 1.7 — — (569.6 ) (b) — Other (a) 0.4 0.1 — — — 0.5 Liabilities as of December 31, 2017 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2018 (In Millions) Entergy $6,185.8 $423.5 $505.4 ($191.3 ) $6,923.4 Utility Entergy Arkansas 981.2 60.4 8.9 (2.1 ) 1,048.4 Entergy Louisiana 1,140.5 63.2 85.4 (8.8 ) 1,280.3 Entergy Mississippi 9.2 0.5 0.5 (1.0 ) 9.2 Entergy New Orleans 3.1 0.2 — — 3.3 Entergy Texas 6.8 0.4 — — 7.2 System Energy 861.7 34.3 — — 896.0 Entergy Wholesale Commodities Big Rock Point 38.9 3.2 — (2.4 ) 39.7 Indian Point 1 217.6 18.6 — (8.3 ) 227.9 Indian Point 2 708.7 60.6 — (1.3 ) 768.0 Indian Point 3 694.5 58.0 — (1.9 ) 750.6 Palisades 470.4 39.6 — (2.0 ) 508.0 Pilgrim 651.4 58.6 117.5 (11.0 ) 816.5 Vermont Yankee 401.5 25.9 293.0 (152.5 ) 567.9 (c) Other (a) 0.3 — 0.1 — 0.4 (a) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (b) See Note 14 to the financial statements for discussion of the sale of the Pilgrim plant to Holtec International in August 2019 and the sale of the Vermont Yankee plant to NorthStar in January 2019. (c) The Vermont Yankee asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2018. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Lease, Cost [Table Text Block] | Entergy incurred the following total lease costs for the year ended December 31, 2019: (In Thousands) Operating lease cost $63,566 Finance lease cost: Amortization of right-of-use assets $16,048 Interest on lease liabilities $3,667 |
Components Of Minimum Lease Payments | As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 |
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) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. |
Lease, Liabilities [Table Text Block] | The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of December 31, 2019: (In Thousands) Current liabilities: Operating leases $52,678 Finance leases $11,413 Non-current liabilities: Operating leases $181,339 Finance leases $53,396 |
Lease, Terms and Discount Rate [Table Text Block] | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of Entergy at December 31, 2019: Weighted average remaining lease terms: Operating leases 5.14 Finance leases 6.69 Weighted average discount rate: Operating leases 3.86 % Finance leases 4.60 % |
Lease, Maturity [Table Text Block] | Maturity of the lease liabilities for Entergy as of December 31, 2019 are as follows: Year Operating Leases Finance Leases (In Thousands) 2020 $62,124 $14,014 2021 56,386 12,457 2022 47,919 11,253 2023 37,228 10,121 2024 30,376 8,454 Years thereafter 29,138 20,010 Minimum lease payments 263,171 76,309 Less: amount representing interest 29,153 11,500 Present value of net minimum lease payments $234,018 $64,809 |
Entergy Arkansas [Member] | |
Lease, Assets [Table Text Block] | Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 |
Lease, Cost [Table Text Block] | The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 |
Components Of Minimum Lease Payments | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Lease, Liabilities [Table Text Block] | The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 |
Lease, Terms and Discount Rate [Table Text Block] | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % |
Lease, Maturity [Table Text Block] | Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 |
Entergy Louisiana [Member] | |
Lease, Assets [Table Text Block] | Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 |
Lease, Cost [Table Text Block] | The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 |
Components Of Minimum Lease Payments | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Lease, Liabilities [Table Text Block] | The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 |
Lease, Terms and Discount Rate [Table Text Block] | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % |
Lease, Maturity [Table Text Block] | Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 |
Entergy Mississippi [Member] | |
Lease, Assets [Table Text Block] | Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 |
Lease, Cost [Table Text Block] | The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 |
Components Of Minimum Lease Payments | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Lease, Liabilities [Table Text Block] | The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 |
Lease, Terms and Discount Rate [Table Text Block] | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % |
Lease, Maturity [Table Text Block] | Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 |
Entergy New Orleans [Member] | |
Lease, Assets [Table Text Block] | Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 |
Lease, Cost [Table Text Block] | The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 |
Components Of Minimum Lease Payments | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Lease, Liabilities [Table Text Block] | The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 |
Lease, Terms and Discount Rate [Table Text Block] | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % |
Lease, Maturity [Table Text Block] | Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 |
Entergy Texas [Member] | |
Lease, Assets [Table Text Block] | Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $52,317 $36,034 $16,900 $3,878 $14,020 Finance leases $11,216 $17,209 $6,869 $3,291 $5,273 |
Lease, Cost [Table Text Block] | The Registrant Subsidiaries incurred the following lease costs for the year ended December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $13,213 $11,975 $6,927 $1,406 $4,259 Finance lease cost: Amortization of right-of-use assets $3,643 $5,940 $2,097 $1,042 $1,568 Interest on lease liabilities $594 $895 $353 $168 $241 |
Components Of Minimum Lease Payments | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Lease, Liabilities [Table Text Block] | The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $11,443 $10,331 $5,633 $1,134 $3,698 Finance leases $2,442 $3,919 $1,487 $647 $1,222 Non-current liabilities: Operating leases $40,880 $25,743 $11,232 $2,746 $10,364 Finance leases $8,768 $13,376 $5,382 $2,644 $4,009 |
Lease, Terms and Discount Rate [Table Text Block] | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and finance leases of the Registrant Subsidiaries at December 31, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 5.84 4.33 5.04 5.62 4.54 Finance leases 5.43 5.24 5.32 5.93 5.12 Weighted average discount rate: Operating leases 3.67 % 3.65 % 3.75 % 3.88 % 3.73 % Finance leases 3.68 % 3.65 % 3.67 % 3.74 % 3.82 % |
Lease, Maturity [Table Text Block] | Maturity of the lease liabilities for the Registrant Subsidiaries as of December 31, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $13,010 $11,376 $6,112 $1,248 $4,339 2021 11,165 9,645 4,983 991 3,611 2022 8,788 6,935 3,566 711 2,689 2023 7,193 4,916 1,454 549 2,336 2024 5,866 3,089 731 310 1,684 Years thereafter 12,021 2,972 1,972 522 1,119 Minimum lease payments 58,043 38,933 18,818 4,331 15,778 Less: amount representing interest 5,720 2,860 1,953 452 1,716 Present value of net minimum lease payments $52,323 $36,073 $16,865 $3,879 $14,062 Finance Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2020 $2,772 $4,422 $1,692 $744 $1,382 2021 2,369 3,766 1,527 634 1,188 2022 2,079 3,325 1,334 581 981 2023 1,833 2,856 1,111 532 839 2024 1,489 2,092 838 449 648 Years thereafter 1,787 2,476 1,038 713 706 Minimum lease payments 12,329 18,937 7,540 3,653 5,744 Less: amount representing interest 1,119 1,641 670 362 512 Present value of net minimum lease payments $11,210 $17,296 $6,870 $3,291 $5,232 |
System Energy [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Future Minimum Lease Payments Sale Leaseback Transactions | As of December 31, 2019 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2020 $17,188 2021 17,188 2022 17,188 2023 17,188 2024 17,188 Years thereafter 206,250 Total 292,190 Less: Amount representing interest 257,844 Present value of net minimum lease payments $34,346 As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Retirement, Other Postretirem_2
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy Corporation and its subsidiaries’ total 2019 , 2018 , and 2017 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2019 2018 2017 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $134,193 $155,010 $133,641 Interest cost on projected benefit obligation 293,114 267,415 260,824 Expected return on assets (414,947 ) (442,142 ) (408,225 ) Amortization of prior service cost — 398 261 Recognized net loss 241,117 274,104 227,720 Settlement charges 23,492 828 — Net periodic pension costs $276,969 $255,613 $214,221 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $614,600 $394,951 $368,067 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost — (398 ) (261 ) Amortization of net loss (241,117 ) (274,104 ) (227,720 ) Settlement charge (23,492 ) (828 ) — Total $349,991 $119,621 $140,086 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $626,960 $375,234 $354,307 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $— $— $398 Net loss $349,038 $233,677 $274,104 |
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 Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,404,917 $7,987,087 Service cost 134,193 155,010 Interest cost 293,114 267,415 Actuarial (gain)/loss 1,292,767 (395,242 ) Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Balance at December 31 $8,406,203 $7,404,917 Change in Plan Assets Fair value of assets at January 1 $5,497,415 $6,071,316 Actual return on plan assets 1,093,114 (348,051 ) Employer contributions 399,419 383,503 Benefits paid (including settlement lump sum benefit payments of ($68,203) in 2019 and ($1,794) in 2018) (718,788 ) (609,353 ) Fair value of assets at December 31 $6,271,160 $5,497,415 Funded status ($2,135,043 ) ($1,907,502 ) Amount recognized in the balance sheet Non-current liabilities ($2,135,043 ) ($1,907,502 ) Amount recognized as a regulatory asset Net loss $2,831,408 $2,468,987 Amount recognized as AOCI (before tax) Net loss $724,575 $737,004 |
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, 2019: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost $— $21,498 ($198 ) $21,300 Amortization of loss (82,284 ) 1,230 (2,192 ) (83,246 ) Settlement loss (23,458 ) — (1,697 ) (25,155 ) ($105,742 ) $22,728 ($4,087 ) ($87,101 ) Entergy Louisiana Amortization of prior service cost $— $7,349 $— $7,349 Amortization of loss (2,795 ) 695 (6 ) (2,106 ) ($2,795 ) $8,044 ($6 ) $5,243 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, 2018: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost ($398 ) $22,379 ($281 ) $21,700 Amortization of loss (87,828 ) (7,730 ) (3,628 ) (99,186 ) Settlement loss (828 ) — (2,379 ) (3,207 ) ($89,054 ) $14,649 ($6,288 ) ($80,693 ) Entergy Louisiana Amortization of prior service cost $— $7,735 $— $7,735 Amortization of loss (3,468 ) (1,550 ) (7 ) (5,025 ) ($3,468 ) $6,185 ($7 ) $2,710 |
Target Asset Allocation | Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2019 and 2018 and the target asset allocation and ranges for 2018 are as follows: Pension Asset Allocation Target Range Actual 2019 Actual 2018 Domestic Equity Securities 39% 32% to 46% 39% 40% International Equity Securities 19% 15% to 23% 19% 18% Fixed Income Securities 42% 39% to 45% 41% 41% Other 0% 0% to 10% 1% 1% Postretirement Asset Allocation Non-Taxable and Taxable Target Range Actual 2019 Actual 2018 Domestic Equity Securities 27% 22% to 32% 29% 27% International Equity Securities 18% 13% to 23% 18% 17% Fixed Income Securities 55% 50% to 60% 53% 56% Other 0% 0% to 5% 0% 0% |
Investments Held For Qualified Pension And Other Postretirement Plans Measured At Fair Value | The following tables set forth by level within the fair value hierarchy, measured at fair value on a recurring basis at December 31, 2019 , and December 31, 2018 , a summary of the investments held in the master trusts for Entergy’s qualified pension and other postretirement plans in which the Registrant Subsidiaries participate. Qualified Defined Benefit Pension Plan Trusts 2019 Level 1 Level 2 Level 3 Total (In Thousands) Equity securities: Corporate stocks: Preferred $ 10,379 (b) $ — — $ 10,379 Common 857,159 (b) — (b) — 857,159 Common collective trusts (c) 2,698,697 Registered investment companies 132,389 (d) — — 132,389 Fixed income securities: U.S. Government securities — 805,671 (a) — 805,671 Corporate debt instruments — 762,577 (a) — 762,577 Registered investment companies (e) 53,842 (d) 2,903 (d) — 1,008,371 Other 73 (f) 43,106 (f) — 43,179 Other: Insurance company general account (unallocated contracts) — 40,452 (g) — 40,452 Total investments $1,053,842 $1,654,709 $— $6,358,874 Cash 1,407 Other pending transactions (22,549 ) Less: Other postretirement assets included in total investments (66,572 ) Total fair value of qualified pension assets $6,271,160 2018 Level 1 Level 2 Level 3 Total (In Thousands) Short-term investments $— $7,715 (a) $— $7,715 Equity securities: Corporate stocks: Preferred $8,250 (b) $— $— $8,250 Common 695,003 (b) — (b) — 695,003 Common collective trusts (c) 2,408,053 Registered investment companies 108,740 (d) — — 108,740 Fixed income securities: U.S. Government securities — (b) 675,880 (a) — 675,880 Corporate debt instruments — 619,310 (a) — 619,310 Registered investment companies (e) 29,374 (d) 2,697 (d) — 931,439 Other 1,866 (f) 48,482 (f) — 50,348 Other: Insurance company general account (unallocated contracts) — 39,322 (g) — 39,322 Total investments $843,233 $1,393,406 $— $5,544,060 Cash 2,591 Other pending transactions 5,956 Less: Other postretirement assets included in total investments (55,192 ) Total fair value of qualified pension assets $5,497,415 Other Postretirement Trusts 2019 Level 1 Level 2 Level 3 Total (In Thousands) Equity securities: Common collective trust (c) $289,398 Fixed income securities: U.S. Government securities 49,930 (b) 89,297 (a) — 139,227 Corporate debt instruments — 130,333 (a) — 130,333 Registered investment companies 1,877 (d) — — 1,877 Other — 57,210 (f) — 57,210 Total investments $51,807 $276,840 $— $618,045 Other pending transactions 1,645 Plus: Other postretirement assets included in the investments of the qualified pension trust 66,572 Total fair value of other postretirement assets $686,262 2018 Level 1 Level 2 Level 3 Total (In Thousands) Equity securities: Common collective trust (c) $244,729 Fixed income securities: U.S. Government securities 63,174 (b) 80,039 (a) — 143,213 Corporate debt instruments — 105,989 (a) — 105,989 Registered investment companies 2,442 (d) — — 2,442 Other — 56,980 (f) — 56,980 Total investments $65,616 $243,008 $— $553,353 Other pending transactions 1,237 Plus: Other postretirement assets included in the investments of the qualified pension trust 55,192 Total fair value of other postretirement assets $609,782 (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, but are included in the total. In 2018 the fund administrator of these investments allowed trading three times in a 30-day period at the net asset value for certain of these common collective trusts. (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, but are included in the total. (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. |
Estimated Future Benefit Payments | Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2019 , 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 D Subsidy Receipts (In Thousands) Year(s) 2020 $548,493 $18,144 $81,100 $359 2021 $543,704 $15,724 $82,207 $398 2022 $549,488 $20,421 $82,619 $446 2023 $550,184 $19,720 $82,044 $491 2024 $554,602 $15,142 $80,649 $539 2025 - 2029 $2,604,810 $65,010 $373,404 $3,402 |
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, 2019 and 2018 were as follows: 2019 2018 Weighted-average discount rate: Qualified pension 3.26% - 3.43% Blended 3.39% 4.37% - 4.52% Blended 4.47% Other postretirement 3.26% 4.42% Non-qualified pension 2.72% 3.98% Weighted-average rate of increase in future compensation levels 3.98% - 4.40% 3.98% Assumed health care trend rate: Pre-65 6.13% 6.59% Post-65 6.25% 7.15% Ultimate rate 4.75% 4.75% Year ultimate rate is reached and beyond: Pre-65 2027 2027 Post-65 2027 2026 |
Actuarial Assumptions Used In Determining Net Periodic And Other Postretirement Benefit Obligation | The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2019 , 2018 , and 2017 were as follows: 2019 2018 2017 Weighted-average discount rate: Qualified pension: Service cost 4.57% 3.89% 4.75% Interest cost 4.15% 3.44% 3.73% Other postretirement: Service cost 4.62% 3.88% 4.60% Interest cost 4.01% 3.33% 3.61% Non-qualified pension: Service cost 3.94% 3.35% 3.65% Interest cost 3.46% 2.76% 3.10% Weighted-average rate of increase in future compensation levels 3.98% 3.98% 3.98% Expected long-term rate of return on plan assets: Pension assets 7.25% 7.50% 7.50% Other postretirement non-taxable assets 6.5%-7.25% 6.50% - 7.50% 6.50% - 7.50% Other postretirement taxable assets 5.50% 5.50% 5.75% Assumed health care trend rate: Pre-65 6.59% 6.95% 6.55% Post-65 7.15% 7.25% 7.25% Ultimate rate 4.75% 4.75% 4.75% Year ultimate rate is reached and beyond: Pre-65 2027 2027 2026 Post-65 2026 2027 2026 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in Entergy’s assumed health care cost trend rate for 2019 would have the following effects: 1 Percentage Point Increase 1 Percentage Point Decrease 2019 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 $109,954 $7,310 ($92,504 ) ($5,970 ) |
Other Postretirement Benefits Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy Corporation’s and its subsidiaries’ total 2019 , 2018 , and 2017 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2019 2018 2017 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $18,699 $27,129 $26,915 Interest cost on accumulated postretirement benefit obligation (APBO) 47,901 50,725 55,838 Expected return on assets (38,246 ) (41,493 ) (37,630 ) Amortization of prior service credit (35,377 ) (37,002 ) (41,425 ) Recognized net loss 1,430 13,729 21,905 Net other postretirement benefit (income)/cost ($5,593 ) $13,088 $25,603 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period $— $— ($2,564 ) Net gain (38,526 ) (274,354 ) (66,922 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 35,377 37,002 41,425 Amortization of net loss (1,430 ) (13,729 ) (21,905 ) Total ($4,579 ) ($251,081 ) ($49,966 ) Total recognized as net periodic benefit (income)/cost, regulatory asset, and/or AOCI (before tax) ($10,172 ) ($237,993 ) ($24,363 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit (income)/cost in the following year Prior service credit ($17,563 ) ($35,377 ) ($37,002 ) Net loss $800 $1,430 $13,729 |
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 Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Change in APBO Balance at January 1 $1,232,619 $1,563,487 Service cost 18,699 27,129 Interest cost 47,901 50,725 Plan participant contributions 38,640 37,049 Actuarial (gain)/loss 23,673 (346,429 ) Benefits paid (109,223 ) (99,785 ) Medicare Part D subsidy received 594 443 Balance at December 31 $1,252,903 $1,232,619 Change in Plan Assets Fair value of assets at January 1 $609,782 $659,327 Actual return on plan assets 100,445 (30,582 ) Employer contributions 46,618 43,773 Plan participant contributions 38,640 37,049 Benefits paid (109,223 ) (99,785 ) Fair value of assets at December 31 $686,262 $609,782 Funded status ($566,641 ) ($622,837 ) Amounts recognized in the balance sheet Current liabilities ($48,040 ) ($44,276 ) Non-current liabilities (518,601 ) (578,561 ) Total funded status ($566,641 ) ($622,837 ) Amounts recognized as a regulatory asset Prior service credit ($11,899 ) ($25,778 ) Net (gain)/loss (5,081 ) 51,774 ($16,980 ) $25,996 Amounts recognized as AOCI (before tax) Prior service credit ($21,231 ) ($42,730 ) Net gain (16,670 ) (33,569 ) ($37,901 ) ($76,299 ) |
Entergy Arkansas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 |
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, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 |
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) 2020 $117,460 $123,520 $37,805 $14,865 $33,558 $26,332 2021 $112,562 $124,235 $36,552 $14,598 $32,552 $26,529 2022 $112,749 $124,692 $35,779 $14,628 $32,041 $26,996 2023 $110,326 $123,347 $34,984 $14,472 $30,992 $27,040 2024 $108,186 $122,228 $33,842 $14,028 $29,124 $26,696 2025 - 2029 $512,732 $574,928 $152,681 $64,517 $127,736 $127,243 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2020 $249 $216 $357 $17 $723 2021 $278 $200 $335 $17 $817 2022 $340 $184 $329 $17 $756 2023 $269 $168 $301 $21 $844 2024 $235 $154 $356 $19 $721 2025 - 2029 $1,152 $574 $1,510 $102 $2,970 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) 2020 $13,088 $18,545 $4,046 $3,384 $6,292 $2,932 2021 $13,074 $18,703 $4,205 $3,255 $6,468 $3,044 2022 $12,801 $18,754 $4,261 $3,112 $6,520 $3,055 2023 $12,450 $18,588 $4,249 $2,997 $6,446 $2,990 2024 $12,155 $18,087 $4,250 $2,864 $6,239 $2,893 2025 - 2029 $55,553 $84,395 $20,672 $12,151 $29,004 $13,110 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2020 $78 $78 $27 $15 $28 $13 2021 $86 $87 $28 $15 $31 $14 2022 $95 $95 $31 $17 $32 $16 2023 $104 $104 $32 $17 $35 $19 2024 $111 $114 $35 $17 $38 $22 2025 - 2029 $685 $719 $205 $94 $222 $152 |
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 2019 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2019 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 $14,480 $908 ($12,259 ) ($748 ) Entergy Louisiana $24,987 $1,769 ($21,017 ) ($1,443 ) Entergy Mississippi $6,085 $420 ($5,122 ) ($343 ) Entergy New Orleans $2,763 $179 ($2,363 ) ($148 ) Entergy Texas $8,561 $482 ($7,230 ) ($397 ) System Energy $4,876 $364 ($4,048 ) ($294 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2020: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $32,512 $38,766 $7,768 $3,248 $3,549 $10,544 Other Postretirement Contributions $509 $18,545 $130 $162 $61 $21 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2019 , 2018 , and 2017 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) 2019 $4,111 $5,641 $2,424 $882 $2,136 2018 $3,985 $5,450 $2,307 $795 $1,992 2017 $3,741 $5,079 $2,133 $731 $1,865 |
Entergy Arkansas [Member] | Other Postretirement Benefits Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— |
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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— |
Entergy Louisiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 |
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, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 |
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, 2019: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost $— $21,498 ($198 ) $21,300 Amortization of loss (82,284 ) 1,230 (2,192 ) (83,246 ) Settlement loss (23,458 ) — (1,697 ) (25,155 ) ($105,742 ) $22,728 ($4,087 ) ($87,101 ) Entergy Louisiana Amortization of prior service cost $— $7,349 $— $7,349 Amortization of loss (2,795 ) 695 (6 ) (2,106 ) ($2,795 ) $8,044 ($6 ) $5,243 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, 2018: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost ($398 ) $22,379 ($281 ) $21,700 Amortization of loss (87,828 ) (7,730 ) (3,628 ) (99,186 ) Settlement loss (828 ) — (2,379 ) (3,207 ) ($89,054 ) $14,649 ($6,288 ) ($80,693 ) Entergy Louisiana Amortization of prior service cost $— $7,735 $— $7,735 Amortization of loss (3,468 ) (1,550 ) (7 ) (5,025 ) ($3,468 ) $6,185 ($7 ) $2,710 |
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) 2020 $117,460 $123,520 $37,805 $14,865 $33,558 $26,332 2021 $112,562 $124,235 $36,552 $14,598 $32,552 $26,529 2022 $112,749 $124,692 $35,779 $14,628 $32,041 $26,996 2023 $110,326 $123,347 $34,984 $14,472 $30,992 $27,040 2024 $108,186 $122,228 $33,842 $14,028 $29,124 $26,696 2025 - 2029 $512,732 $574,928 $152,681 $64,517 $127,736 $127,243 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2020 $249 $216 $357 $17 $723 2021 $278 $200 $335 $17 $817 2022 $340 $184 $329 $17 $756 2023 $269 $168 $301 $21 $844 2024 $235 $154 $356 $19 $721 2025 - 2029 $1,152 $574 $1,510 $102 $2,970 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) 2020 $13,088 $18,545 $4,046 $3,384 $6,292 $2,932 2021 $13,074 $18,703 $4,205 $3,255 $6,468 $3,044 2022 $12,801 $18,754 $4,261 $3,112 $6,520 $3,055 2023 $12,450 $18,588 $4,249 $2,997 $6,446 $2,990 2024 $12,155 $18,087 $4,250 $2,864 $6,239 $2,893 2025 - 2029 $55,553 $84,395 $20,672 $12,151 $29,004 $13,110 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2020 $78 $78 $27 $15 $28 $13 2021 $86 $87 $28 $15 $31 $14 2022 $95 $95 $31 $17 $32 $16 2023 $104 $104 $32 $17 $35 $19 2024 $111 $114 $35 $17 $38 $22 2025 - 2029 $685 $719 $205 $94 $222 $152 |
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 2019 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2019 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 $14,480 $908 ($12,259 ) ($748 ) Entergy Louisiana $24,987 $1,769 ($21,017 ) ($1,443 ) Entergy Mississippi $6,085 $420 ($5,122 ) ($343 ) Entergy New Orleans $2,763 $179 ($2,363 ) ($148 ) Entergy Texas $8,561 $482 ($7,230 ) ($397 ) System Energy $4,876 $364 ($4,048 ) ($294 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2020: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $32,512 $38,766 $7,768 $3,248 $3,549 $10,544 Other Postretirement Contributions $509 $18,545 $130 $162 $61 $21 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2019 , 2018 , and 2017 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) 2019 $4,111 $5,641 $2,424 $882 $2,136 2018 $3,985 $5,450 $2,307 $795 $1,992 2017 $3,741 $5,079 $2,133 $731 $1,865 |
Entergy Louisiana [Member] | Other Postretirement Benefits Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— |
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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— |
Entergy Mississippi [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 |
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, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 |
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) 2020 $117,460 $123,520 $37,805 $14,865 $33,558 $26,332 2021 $112,562 $124,235 $36,552 $14,598 $32,552 $26,529 2022 $112,749 $124,692 $35,779 $14,628 $32,041 $26,996 2023 $110,326 $123,347 $34,984 $14,472 $30,992 $27,040 2024 $108,186 $122,228 $33,842 $14,028 $29,124 $26,696 2025 - 2029 $512,732 $574,928 $152,681 $64,517 $127,736 $127,243 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2020 $249 $216 $357 $17 $723 2021 $278 $200 $335 $17 $817 2022 $340 $184 $329 $17 $756 2023 $269 $168 $301 $21 $844 2024 $235 $154 $356 $19 $721 2025 - 2029 $1,152 $574 $1,510 $102 $2,970 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) 2020 $13,088 $18,545 $4,046 $3,384 $6,292 $2,932 2021 $13,074 $18,703 $4,205 $3,255 $6,468 $3,044 2022 $12,801 $18,754 $4,261 $3,112 $6,520 $3,055 2023 $12,450 $18,588 $4,249 $2,997 $6,446 $2,990 2024 $12,155 $18,087 $4,250 $2,864 $6,239 $2,893 2025 - 2029 $55,553 $84,395 $20,672 $12,151 $29,004 $13,110 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2020 $78 $78 $27 $15 $28 $13 2021 $86 $87 $28 $15 $31 $14 2022 $95 $95 $31 $17 $32 $16 2023 $104 $104 $32 $17 $35 $19 2024 $111 $114 $35 $17 $38 $22 2025 - 2029 $685 $719 $205 $94 $222 $152 |
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 2019 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2019 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 $14,480 $908 ($12,259 ) ($748 ) Entergy Louisiana $24,987 $1,769 ($21,017 ) ($1,443 ) Entergy Mississippi $6,085 $420 ($5,122 ) ($343 ) Entergy New Orleans $2,763 $179 ($2,363 ) ($148 ) Entergy Texas $8,561 $482 ($7,230 ) ($397 ) System Energy $4,876 $364 ($4,048 ) ($294 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2020: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $32,512 $38,766 $7,768 $3,248 $3,549 $10,544 Other Postretirement Contributions $509 $18,545 $130 $162 $61 $21 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2019 , 2018 , and 2017 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) 2019 $4,111 $5,641 $2,424 $882 $2,136 2018 $3,985 $5,450 $2,307 $795 $1,992 2017 $3,741 $5,079 $2,133 $731 $1,865 |
Entergy Mississippi [Member] | Other Postretirement Benefits Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— |
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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— |
Entergy New Orleans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 |
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, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 |
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) 2020 $117,460 $123,520 $37,805 $14,865 $33,558 $26,332 2021 $112,562 $124,235 $36,552 $14,598 $32,552 $26,529 2022 $112,749 $124,692 $35,779 $14,628 $32,041 $26,996 2023 $110,326 $123,347 $34,984 $14,472 $30,992 $27,040 2024 $108,186 $122,228 $33,842 $14,028 $29,124 $26,696 2025 - 2029 $512,732 $574,928 $152,681 $64,517 $127,736 $127,243 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2020 $249 $216 $357 $17 $723 2021 $278 $200 $335 $17 $817 2022 $340 $184 $329 $17 $756 2023 $269 $168 $301 $21 $844 2024 $235 $154 $356 $19 $721 2025 - 2029 $1,152 $574 $1,510 $102 $2,970 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) 2020 $13,088 $18,545 $4,046 $3,384 $6,292 $2,932 2021 $13,074 $18,703 $4,205 $3,255 $6,468 $3,044 2022 $12,801 $18,754 $4,261 $3,112 $6,520 $3,055 2023 $12,450 $18,588 $4,249 $2,997 $6,446 $2,990 2024 $12,155 $18,087 $4,250 $2,864 $6,239 $2,893 2025 - 2029 $55,553 $84,395 $20,672 $12,151 $29,004 $13,110 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2020 $78 $78 $27 $15 $28 $13 2021 $86 $87 $28 $15 $31 $14 2022 $95 $95 $31 $17 $32 $16 2023 $104 $104 $32 $17 $35 $19 2024 $111 $114 $35 $17 $38 $22 2025 - 2029 $685 $719 $205 $94 $222 $152 |
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 2019 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2019 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 $14,480 $908 ($12,259 ) ($748 ) Entergy Louisiana $24,987 $1,769 ($21,017 ) ($1,443 ) Entergy Mississippi $6,085 $420 ($5,122 ) ($343 ) Entergy New Orleans $2,763 $179 ($2,363 ) ($148 ) Entergy Texas $8,561 $482 ($7,230 ) ($397 ) System Energy $4,876 $364 ($4,048 ) ($294 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2020: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $32,512 $38,766 $7,768 $3,248 $3,549 $10,544 Other Postretirement Contributions $509 $18,545 $130 $162 $61 $21 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2019 , 2018 , and 2017 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) 2019 $4,111 $5,641 $2,424 $882 $2,136 2018 $3,985 $5,450 $2,307 $795 $1,992 2017 $3,741 $5,079 $2,133 $731 $1,865 |
Entergy New Orleans [Member] | Other Postretirement Benefits Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— |
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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— |
Entergy Texas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 |
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, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 |
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) 2020 $117,460 $123,520 $37,805 $14,865 $33,558 $26,332 2021 $112,562 $124,235 $36,552 $14,598 $32,552 $26,529 2022 $112,749 $124,692 $35,779 $14,628 $32,041 $26,996 2023 $110,326 $123,347 $34,984 $14,472 $30,992 $27,040 2024 $108,186 $122,228 $33,842 $14,028 $29,124 $26,696 2025 - 2029 $512,732 $574,928 $152,681 $64,517 $127,736 $127,243 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2020 $249 $216 $357 $17 $723 2021 $278 $200 $335 $17 $817 2022 $340 $184 $329 $17 $756 2023 $269 $168 $301 $21 $844 2024 $235 $154 $356 $19 $721 2025 - 2029 $1,152 $574 $1,510 $102 $2,970 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) 2020 $13,088 $18,545 $4,046 $3,384 $6,292 $2,932 2021 $13,074 $18,703 $4,205 $3,255 $6,468 $3,044 2022 $12,801 $18,754 $4,261 $3,112 $6,520 $3,055 2023 $12,450 $18,588 $4,249 $2,997 $6,446 $2,990 2024 $12,155 $18,087 $4,250 $2,864 $6,239 $2,893 2025 - 2029 $55,553 $84,395 $20,672 $12,151 $29,004 $13,110 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2020 $78 $78 $27 $15 $28 $13 2021 $86 $87 $28 $15 $31 $14 2022 $95 $95 $31 $17 $32 $16 2023 $104 $104 $32 $17 $35 $19 2024 $111 $114 $35 $17 $38 $22 2025 - 2029 $685 $719 $205 $94 $222 $152 |
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 2019 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2019 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 $14,480 $908 ($12,259 ) ($748 ) Entergy Louisiana $24,987 $1,769 ($21,017 ) ($1,443 ) Entergy Mississippi $6,085 $420 ($5,122 ) ($343 ) Entergy New Orleans $2,763 $179 ($2,363 ) ($148 ) Entergy Texas $8,561 $482 ($7,230 ) ($397 ) System Energy $4,876 $364 ($4,048 ) ($294 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2020: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $32,512 $38,766 $7,768 $3,248 $3,549 $10,544 Other Postretirement Contributions $509 $18,545 $130 $162 $61 $21 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2019 , 2018 , and 2017 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) 2019 $4,111 $5,641 $2,424 $882 $2,136 2018 $3,985 $5,450 $2,307 $795 $1,992 2017 $3,741 $5,079 $2,133 $731 $1,865 |
Entergy Texas [Member] | Other Postretirement Benefits Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— |
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 2019 , 2018 , and 2017 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $275 $159 $326 $20 $481 2018 $474 $180 $300 $81 $650 2017 $679 $185 $251 $73 $499 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,755 $1,682 $3,286 $231 $7,783 2018 $2,752 $1,881 $2,732 $206 $7,952 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2019 and 2018 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $2,248 $1,682 $2,938 $230 $7,391 2018 $2,519 $1,881 $2,427 $206 $7,724 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2019 and 2018 : 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($249 ) ($216 ) ($357 ) ($17 ) ($723 ) Non-current liabilities (2,506 ) (1,467 ) (2,930 ) (215 ) (7,060 ) Total funded status ($2,755 ) ($1,683 ) ($3,287 ) ($232 ) ($7,783 ) Regulatory asset/(liability) $1,232 $3 $1,432 ($559 ) ($603 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($198 ) ($229 ) ($128 ) ($16 ) ($672 ) Non-current liabilities (2,554 ) (1,652 ) (2,604 ) (191 ) (7,280 ) Total funded status ($2,752 ) ($1,881 ) ($2,732 ) ($207 ) ($7,952 ) Regulatory asset/(liability) $1,314 $79 $1,009 ($579 ) ($517 ) Accumulated other comprehensive income (before taxes) $— $5 $— $— $— |
System Energy [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2019 , 2018 , and 2017 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: 2019 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 $21,043 $29,137 $6,516 $2,274 $5,401 $6,199 Interest cost on projected benefit obligation 56,701 63,529 16,272 7,495 14,451 13,456 Expected return on assets (80,705 ) (90,607 ) (23,873 ) (10,785 ) (23,447 ) (18,710 ) Recognized net loss 47,361 46,571 12,416 6,117 9,335 11,400 Net pension cost $44,400 $48,630 $11,331 $5,101 $5,740 $12,345 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $118,898 $99,346 $41,088 $6,531 $10,869 $36,711 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (47,361 ) (46,571 ) (12,416 ) (6,117 ) (9,335 ) (11,400 ) Total $71,537 $52,775 $28,672 $414 $1,534 $25,311 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $115,937 $101,405 $40,003 $5,515 $7,274 $37,656 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $67,588 $66,509 $18,994 $8,018 $13,060 $17,117 2018 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 $24,757 $33,783 $7,286 $2,693 $6,356 $7,102 Interest cost on projected benefit obligation 52,017 59,761 15,075 7,253 13,390 12,907 Expected return on assets (87,404 ) (99,236 ) (26,007 ) (11,973 ) (26,091 ) (19,963 ) Recognized net loss 53,650 57,800 14,438 7,816 10,503 14,859 Net pension cost $43,020 $52,108 $10,792 $5,789 $4,158 $14,905 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $74,570 $41,642 $19,244 $2,351 $24,121 ($2,359 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (53,650 ) (57,800 ) (14,438 ) (7,816 ) (10,503 ) (14,859 ) Total $20,920 ($16,158 ) $4,806 ($5,465 ) $13,618 ($17,218 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $63,940 $35,950 $15,598 $324 $17,776 ($2,313 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $47,361 $46,571 $12,416 $6,117 $9,335 $11,400 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 |
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, 2019 and 2018 are as follows: 2019 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 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Service cost 21,043 29,137 6,516 2,274 5,401 6,199 Interest cost 56,701 63,529 16,272 7,495 14,451 13,456 Actuarial loss 248,213 248,509 79,453 24,299 49,235 66,460 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Balance at December 31 $1,615,084 $1,784,474 $471,510 $206,962 $396,764 $393,607 Change in Plan Assets Fair value of assets at January 1 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Actual return on plan assets 210,020 239,770 62,238 28,552 61,814 48,460 Employer contributions 75,854 64,951 20,794 4,553 3,725 20,234 Benefits paid (154,681 ) (156,617 ) (44,820 ) (18,296 ) (41,927 ) (31,542 ) Fair value of assets at December 31 $1,200,035 $1,364,030 $354,928 $160,777 $339,126 $282,668 Funded status ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($415,049 ) ($420,444 ) ($116,582 ) ($46,185 ) ($57,638 ) ($110,939 ) Amounts recognized as regulatory asset Net loss $799,235 $759,228 $225,354 $91,862 $160,564 $193,870 Amounts recognized as AOCI (before tax) Net loss $— $23,481 $— $— $— $— 2018 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 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Service cost 24,757 33,783 7,286 2,693 6,356 7,102 Interest cost 52,017 59,761 15,075 7,253 13,390 12,907 Actuarial gain (79,621 ) (133,520 ) (26,611 ) (18,844 ) (21,656 ) (37,842 ) Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Balance at December 31 $1,443,808 $1,599,916 $414,089 $191,190 $369,604 $339,034 Change in Plan Assets Fair value of assets at January 1 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Actual return on plan assets (66,787 ) (75,926 ) (19,849 ) (9,221 ) (19,686 ) (15,520 ) Employer contributions 64,062 71,919 14,933 7,250 10,883 13,786 Benefits paid (134,101 ) (145,808 ) (39,210 ) (17,808 ) (39,206 ) (27,182 ) Fair value of assets at December 31 $1,068,842 $1,215,926 $316,716 $145,968 $315,514 $245,516 Funded status ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($374,966 ) ($383,990 ) ($97,373 ) ($45,222 ) ($54,090 ) ($93,518 ) Amounts recognized as regulatory asset Net loss $727,703 $686,138 $196,683 $91,448 $159,030 $168,559 Amounts recognized as AOCI (before tax) Net loss $— $43,796 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2019 and 2018 was as follows: December 31, 2019 2018 (In Thousands) Entergy Arkansas $1,519,998 $1,362,425 Entergy Louisiana $1,643,759 $1,481,158 Entergy Mississippi $438,817 $387,635 Entergy New Orleans $192,561 $179,907 Entergy Texas $371,589 $347,852 System Energy $368,771 $317,848 |
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) 2020 $117,460 $123,520 $37,805 $14,865 $33,558 $26,332 2021 $112,562 $124,235 $36,552 $14,598 $32,552 $26,529 2022 $112,749 $124,692 $35,779 $14,628 $32,041 $26,996 2023 $110,326 $123,347 $34,984 $14,472 $30,992 $27,040 2024 $108,186 $122,228 $33,842 $14,028 $29,124 $26,696 2025 - 2029 $512,732 $574,928 $152,681 $64,517 $127,736 $127,243 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2020 $249 $216 $357 $17 $723 2021 $278 $200 $335 $17 $817 2022 $340 $184 $329 $17 $756 2023 $269 $168 $301 $21 $844 2024 $235 $154 $356 $19 $721 2025 - 2029 $1,152 $574 $1,510 $102 $2,970 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) 2020 $13,088 $18,545 $4,046 $3,384 $6,292 $2,932 2021 $13,074 $18,703 $4,205 $3,255 $6,468 $3,044 2022 $12,801 $18,754 $4,261 $3,112 $6,520 $3,055 2023 $12,450 $18,588 $4,249 $2,997 $6,446 $2,990 2024 $12,155 $18,087 $4,250 $2,864 $6,239 $2,893 2025 - 2029 $55,553 $84,395 $20,672 $12,151 $29,004 $13,110 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2020 $78 $78 $27 $15 $28 $13 2021 $86 $87 $28 $15 $31 $14 2022 $95 $95 $31 $17 $32 $16 2023 $104 $104 $32 $17 $35 $19 2024 $111 $114 $35 $17 $38 $22 2025 - 2029 $685 $719 $205 $94 $222 $152 |
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 2019 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2019 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 $14,480 $908 ($12,259 ) ($748 ) Entergy Louisiana $24,987 $1,769 ($21,017 ) ($1,443 ) Entergy Mississippi $6,085 $420 ($5,122 ) ($343 ) Entergy New Orleans $2,763 $179 ($2,363 ) ($148 ) Entergy Texas $8,561 $482 ($7,230 ) ($397 ) System Energy $4,876 $364 ($4,048 ) ($294 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2020: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $32,512 $38,766 $7,768 $3,248 $3,549 $10,544 Other Postretirement Contributions $509 $18,545 $130 $162 $61 $21 |
System Energy [Member] | Other Postretirement Benefits Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2019 , 2018 , and 2017 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $2,363 $4,639 $1,046 $367 $943 $973 Interest cost on APBO 7,226 10,664 2,681 1,581 3,415 1,902 Expected return on assets (15,962 ) — (4,794 ) (4,947 ) (9,103 ) (2,788 ) Amortization of prior service credit (4,950 ) (7,349 ) (1,756 ) (682 ) (2,243 ) (1,450 ) Recognized net (gain)/ loss 576 (695 ) 723 231 485 354 Net other postretirement benefit (income)/cost ($10,747 ) $7,259 ($2,100 ) ($3,450 ) ($6,503 ) ($1,009 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($26,707 ) ($2,220 ) ($11,950 ) ($10,967 ) ($6,406 ) ($5,539 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 4,950 7,349 1,756 682 2,243 1,450 Amortization of net (gain)/loss (576 ) 695 (723 ) (231 ) (485 ) (354 ) Total ($22,333 ) $5,824 ($10,917 ) ($10,516 ) ($4,648 ) ($4,443 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($33,080 ) $13,083 ($13,017 ) ($13,966 ) ($11,151 ) ($5,452 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($3,174 ) ($3,142 ) ($1,037 ) $— ($1,421 ) ($747 ) Net (gain)/loss $4 ($1,030 ) $75 ($246 ) $810 $51 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,170 $6,225 $1,284 $516 $1,319 $1,223 Interest cost on APBO 7,986 11,154 2,731 1,669 3,754 1,998 Expected return on assets (17,368 ) — (5,213 ) (5,250 ) (9,784 ) (3,130 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 1,154 1,550 1,508 137 823 932 Net other postretirement benefit (income)/cost ($10,168 ) $11,194 ($1,513 ) ($3,673 ) ($6,204 ) ($490 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net gain ($32,219 ) ($73,249 ) ($7,794 ) ($981 ) ($10,561 ) ($6,680 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (1,154 ) (1,550 ) (1,508 ) (137 ) (823 ) (932 ) Total ($28,263 ) ($67,064 ) ($7,479 ) ($373 ) ($9,068 ) ($6,099 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($38,431 ) ($55,870 ) ($8,992 ) ($4,046 ) ($15,272 ) ($6,589 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($4,950 ) ($7,349 ) ($1,756 ) ($682 ) ($2,243 ) ($1,450 ) Net (gain)/loss $576 ($695 ) $723 $231 $485 $354 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement (income)/cost, regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic (income)/cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2019 and 2018 are as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Service cost 2,363 4,639 1,046 367 943 973 Interest cost 7,226 10,664 2,681 1,581 3,415 1,902 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Actuarial (gain)/loss 166 (2,220 ) (3,778 ) (4,234 ) 8,279 (891 ) Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Medicare Part D subsidy received 82 107 16 14 23 37 Balance at December 31 $185,744 $274,175 $65,979 $38,460 $94,742 $47,348 Change in Plan Assets Fair value of assets at January 1 $252,055 $— $75,853 $81,774 $144,846 $43,670 Actual return on plan assets 42,835 — 12,966 11,680 23,788 7,436 Employer contributions 1,257 14,284 228 1,659 (596 ) 829 Plan participant contributions 8,125 8,876 2,197 1,343 2,602 1,765 Benefits paid (20,048 ) (23,160 ) (5,159 ) (2,598 ) (8,830 ) (5,229 ) Fair value of assets at December 31 $284,224 $— $86,085 $93,858 $161,810 $48,471 Funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in the balance sheet Current liabilities $— ($18,467 ) $— $— $— $— Non-current liabilities 98,480 (255,708 ) 20,106 55,398 67,068 1,123 Total funded status $98,480 ($274,175 ) $20,106 $55,398 $67,068 $1,123 Amounts recognized in regulatory asset Prior service credit ($6,515 ) $— ($3,108 ) $— ($1,422 ) ($854 ) Net (gain)/loss (18,262 ) — 3,272 (8,046 ) 6,203 2,881 ($24,777 ) $— $164 ($8,046 ) $4,781 $2,027 Amounts recognized in AOCI (before tax) Prior service credit $— ($4,915 ) $— $— $— $— Net gain — (24,739 ) — — — — $— ($29,654 ) $— $— $— $— 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Service cost 3,170 6,225 1,284 516 1,319 1,223 Interest cost 7,986 11,154 2,731 1,669 3,754 1,998 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Actuarial gain (61,960 ) (73,249 ) (16,762 ) (10,847 ) (27,527 ) (11,985 ) Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Medicare Part D subsidy received 60 64 14 8 13 22 Balance at December 31 $187,830 $275,269 $68,976 $41,987 $88,310 $48,791 Change in Plan Assets Fair value of assets at January 1 $274,678 $— $82,433 $85,504 $154,171 $49,124 Actual return on plan assets (12,373 ) — (3,755 ) (4,616 ) (7,182 ) (2,175 ) Employer contributions 195 14,314 87 3,793 3,808 569 Plan participant contributions 8,136 8,162 2,233 1,171 2,565 1,837 Benefits paid (18,581 ) (22,476 ) (5,145 ) (4,078 ) (8,516 ) (5,685 ) Fair value of assets at December 31 $252,055 $— $75,853 $81,774 $144,846 $43,670 Funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in the balance sheet Current liabilities $— ($17,740 ) $— $— $— $— Non-current liabilities 64,225 (257,529 ) 6,877 39,787 56,536 (5,121 ) Total funded status $64,225 ($275,269 ) $6,877 $39,787 $56,536 ($5,121 ) Amounts recognized in regulatory asset Prior service credit ($11,465 ) $— ($4,864 ) ($681 ) ($3,665 ) ($2,304 ) Net loss 9,021 — 15,945 3,151 13,094 8,774 ($2,444 ) $— $11,081 $2,470 $9,429 $6,470 Amounts recognized in AOCI (before tax) Prior service credit $— ($12,264 ) $— $— $— $— Net gain — (23,214 ) — — — — $— ($35,478 ) $— $— $— $— |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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: 2019 2018 2017 (In Millions) Compensation expense included in Entergy’s consolidated net income $3.8 $4.3 $4.4 Tax benefit recognized in Entergy’s consolidated net income $1.0 $1.1 $1.7 Compensation cost capitalized as part of fixed assets and inventory $1.4 $0.7 $0.7 |
Schedule of Weighted Average Assumptions | The stock option weighted-average assumptions used in determining the fair values are as follows: 2019 2018 2017 Stock price volatility 17.23% 17.44% 18.39% Expected term in years 7.32 7.33 7.35 Risk-free interest rate 2.50% 2.54% 2.31% Dividend yield 4.50% 4.75% 4.75% Dividend payment per share $3.66 $3.58 $3.50 |
Schedule of Stock Option Activity | A summary of stock option activity for the year ended December 31, 2019 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, 2019 2,993,333 $75.14 Options granted 693,161 $89.19 Options exercised (1,227,047 ) $76.35 Options forfeited/expired (10,534 ) $81.68 Options outstanding as of December 31, 2019 2,448,913 $78.48 $101,178,880 7.03 years Options exercisable as of December 31, 2019 1,160,665 $73.97 $53,192,483 5.47 years Weighted-average grant-date fair value of options granted during 2019 $8.32 |
Schedule of Stock Options Outstanding | The following table summarizes information about stock options outstanding as of December 31, 2019 : Options Outstanding Options Exercisable Range of Exercise Price As of December 31, 2019 Weighted-Average Remaining Contractual Life-Yrs. Weighted Average Exercise Price Number Exercisable as of December 31, 2019 Weighted Average Exercise Price $51 - $64.99 244,200 3.72 $63.69 244,200 $63.69 $65 - $78.99 1,323,452 6.89 $73.97 694,093 $72.50 $79 - $91.99 881,261 8.15 $89.36 222,372 $89.85 $51 - $89.90 2,448,913 7.03 $78.48 1,160,665 $73.97 |
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: 2019 2018 2017 (In Millions) Compensation expense included in Entergy’s consolidated net income $20.2 $19.8 $19.7 Tax benefit recognized in Entergy’s consolidated net income $5.1 $5.1 $7.6 Compensation cost capitalized as part of fixed assets and inventory $7.1 $5.7 $5.2 |
Schedule of Stock Options Outstanding | The following table includes information about the restricted stock awards outstanding as of December 31, 2019 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2019 693,527 $74.17 Granted 379,690 $88.75 Vested (346,842 ) $72.96 Forfeited (34,241 ) $78.66 Outstanding shares at December 31, 2019 692,134 $82.56 |
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: 2019 2018 2017 (In Millions) Compensation expense included in Entergy’s consolidated net income $11.1 $11.5 $10.8 Tax benefit recognized in Entergy’s consolidated net income $2.8 $2.9 $4.2 Compensation cost capitalized as part of fixed assets and inventory $4.0 $3.3 $3.0 |
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, 2019 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2019 566,626 $79.21 Granted 241,406 $96.18 Vested (226,252 ) $84.52 Forfeited (29,847 ) $87.43 Outstanding shares at December 31, 2019 551,933 $84.01 |
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: 2019 2018 2017 (In Millions) Compensation expense included in Entergy’s consolidated net income $2.2 $2.9 $2.5 Tax benefit recognized in Entergy’s consolidated net income $0.6 $0.7 $1.0 Compensation cost capitalized as part of fixed assets and inventory $0.9 $0.7 $0.6 |
Schedule of Stock Options Outstanding | The following table includes information about the restricted stock unit awards outstanding as of December 31, 2019 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2019 186,763 $76.43 Granted 26,700 $109.10 Vested (83,000 ) $77.05 Outstanding shares at December 31, 2019 130,463 $82.72 |
Business Segment Information Bu
Business Segment Information Business Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information, by Segment | Entergy’s segment financial information is as follows: 2019 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,583,985 $1,294,719 $21 ($52 ) $10,878,673 Asset write-offs, impairments, and related charges $— $290,027 $— $— $290,027 Depreciation, amortization, & decommissioning $1,493,167 $384,707 $2,944 $— $1,880,818 Interest and investment income $289,570 $414,636 $26,295 ($182,589 ) $547,912 Interest expense $589,395 $29,450 $178,575 ($54,995 ) $742,425 Income taxes $19,634 ($161,295 ) ($28,164 ) $— ($169,825 ) Consolidated net income (loss) $1,425,643 $148,870 ($188,675 ) ($127,594 ) $1,258,244 Total assets $49,557,664 $4,154,961 $514,020 ($2,502,733 ) $51,723,912 Cash paid for long-lived asset additions $4,527,045 $104,300 $160 $— $4,631,505 2018 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,540,670 $1,468,905 $— ($123 ) $11,009,452 Asset write-offs, impairments, and related charges $— $532,321 $— $— $532,321 Depreciation, amortization, & decommissioning $1,367,944 $388,732 $1,274 $— $1,757,950 Interest and investment income $203,936 $14,543 $31,602 ($186,217 ) $63,864 Interest expense $552,919 $33,694 $179,358 ($58,623 ) $707,348 Income taxes ($732,548 ) ($269,025 ) ($35,253 ) $— ($1,036,826 ) Consolidated net income (loss) $1,495,061 ($340,641 ) ($164,271 ) ($127,594 ) $862,555 Total assets $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 Cash paid for long-lived asset additions $3,987,424 $283,707 $86 $— $4,271,217 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 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 2019, 2018, and 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of December 31, 2016 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Restructuring costs accrued 139 — 139 Cash paid out 43 — 43 Balance as of December 31, 2018 $179 $14 $193 Restructuring costs accrued 91 — 91 Cash paid out 141 — 141 Balance as of December 31, 2019 $129 $14 $143 |
Risk Management And Fair Valu_2
Risk Management And Fair Values (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 : Transaction Type Fair Value as of December 31, 2019 Significant Unobservable Inputs Range from Average % Effect on Fair Value (In Millions) (In Millions) Power contracts - electricity swaps $118 Unit contingent discount +/- 4.75% $11 |
Fair Values Of Derivative Instruments | The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2019 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $92 ($1) $91 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 $— $17 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $11 ($1) $10 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $10 $— $10 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $2 ($2) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities (current portion) $5 $— $5 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $2 $— $2 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 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 Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $11 million posted and $1 million held as of December 31, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $98 million held as of December 31, 2019 and $4 million posted as of December 31, 2018. |
Derivative Instruments Designated As Cash Flow Hedges On Consolidated Statements Of Income | The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Amount of gain (loss) 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) 2019 Electricity swaps and options $232 Competitive business operating revenues $97 2018 Electricity swaps and options ($40) Competitive business operating revenues ($68) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 (a) Before taxes of $20 million , ($14) million , and $38 million , for the years ended December 31, 2019 , 2018 , and 2017 , respectively |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) Financial transmission rights Purchased power expense (b) $94 Electricity swaps and options (c) Competitive business operating revenues $12 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) $8 Financial transmission rights Purchased power expense (b) $131 Electricity swaps and options (c) Competitive business operating revenues $8 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights Purchased power expense (b) $139 (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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) There were no gains (losses) recognized in accumulated other comprehensive income from electricity swaps and options. |
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, 2019 and December 31, 2018 . 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. 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $391 $— $— $391 Decommissioning trust funds (a): Equity securities 905 — — 905 Debt securities 1,139 1,824 — 2,963 Common trusts (b) 2,536 Power contracts — — 118 118 Securitization recovery trust account 47 — — 47 Escrow accounts 459 — — 459 Gas hedge contracts — 1 — 1 Financial transmission rights — — 10 10 $2,941 $1,825 $128 $7,430 Liabilities: Gas hedge contracts $5 $2 $— $7 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $424 $— $— $424 Decommissioning trust funds (a): Equity securities 1,686 — — 1,686 Debt securities 1,259 1,625 — 2,884 Common trusts (b) 2,350 Power contracts — — 3 3 Securitization recovery trust account 51 — — 51 Escrow accounts 403 — — 403 Gas hedge contracts — 2 — 2 Financial transmission rights — — 15 15 $3,823 $1,627 $18 $7,818 Liabilities: Power contracts $— $— $34 $34 Gas hedge contracts 1 — — 1 $1 $— $34 $35 (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, 2019 , 2018 , and 2017 : 2019 2018 2017 Power Contracts Financial transmission rights Power Contracts Financial transmission rights Power Contracts Financial transmission rights (In Millions) Balance as of January 1, ($31 ) $15 ($65 ) $21 $5 $21 Total gains (losses) for the period (a) Included in earnings 12 — 2 (1 ) (3 ) 1 Included in other comprehensive income 232 — (40 ) — 44 — Included as a regulatory liability/asset — 54 — 80 — 76 Issuances of financial transmission rights — 35 — 46 — 62 Settlements (95 ) (94 ) 72 (131 ) (111 ) (139 ) Balance as of December 31, $118 $10 ($31 ) $15 ($65 ) $21 (a) Change in unrealized gains or losses for the period included in earnings for derivatives held at the end of the reporting period is ($9.2) million , ($3.5) million , and $0.9 million for the years ended December 31, 2019, 2018, and 2017, 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, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. |
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, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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 Arkansas 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Decommissioning trust funds (a): Equity securities $0.6 $— $— $0.6 Debt securities 108.7 304.1 — 412.8 Common trusts (b) 687.9 Securitization recovery trust account 4.0 — — 4.0 Financial transmission rights — — 3.3 3.3 $113.3 $304.1 $3.3 $1,108.6 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Decommissioning trust funds (a): Equity securities $4.0 $— $— $4.0 Debt securities 94.8 286.5 — 381.3 Common trusts (b) 526.7 Securitization recovery trust account 4.7 — — 4.7 Financial transmission rights — — 3.4 3.4 $103.5 $286.5 $3.4 $920.1 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2019 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, 2019 $3.4 $8.3 $2.2 $1.3 ($0.5 ) Issuances of financial transmission rights 9.6 18.7 3.9 2.7 0.1 Gains (losses) included as a regulatory liability/asset 12.6 24.2 1.5 (1.0 ) 17.0 Settlements (22.3 ) (46.7 ) (6.8 ) (2.7 ) (15.7 ) Balance as of December 31, 2019 $3.3 $4.5 $0.8 $0.3 $0.9 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, 2018 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, 2018 $3.0 $10.2 $2.1 $2.2 $3.4 Issuances of financial transmission rights 11.8 20.0 4.5 3.7 6.1 Gains (losses) included as a regulatory liability/asset 13.9 50.8 21.9 9.2 (16.0 ) Settlements (25.3 ) (72.7 ) (26.3 ) (13.8 ) 6.0 Balance as of December 31, 2018 $3.4 $8.3 $2.2 $1.3 ($0.5 ) |
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, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. |
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, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1.5 $— $— $1.5 Decommissioning trust funds (a): Equity securities 4.3 — — 4.3 Debt securities 180.8 420.7 — 601.5 Common trusts (b) 958.0 Escrow accounts 295.9 — — 295.9 Securitization recovery trust account 3.7 — — 3.7 Gas hedge contracts — 0.8 — 0.8 Financial transmission rights — — 4.5 4.5 $486.2 $421.5 $4.5 $1,870.2 Liabilities: Gas hedge contracts $2.4 $2.2 $— $4.6 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $43.1 $— $— $43.1 Decommissioning trust funds (a): Equity securities 13.3 — — 13.3 Debt securities 162.0 370.9 — 532.9 Common trusts (b) 738.8 Escrow accounts 289.5 — — 289.5 Securitization recovery trust account 3.6 — — 3.6 Gas hedge contracts — 1.9 — 1.9 Financial transmission rights — — 8.3 8.3 $511.5 $372.8 $8.3 $1,631.4 Liabilities: Gas hedge contracts $0.7 $0.4 $— $1.1 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2019 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, 2019 $3.4 $8.3 $2.2 $1.3 ($0.5 ) Issuances of financial transmission rights 9.6 18.7 3.9 2.7 0.1 Gains (losses) included as a regulatory liability/asset 12.6 24.2 1.5 (1.0 ) 17.0 Settlements (22.3 ) (46.7 ) (6.8 ) (2.7 ) (15.7 ) Balance as of December 31, 2019 $3.3 $4.5 $0.8 $0.3 $0.9 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, 2018 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, 2018 $3.0 $10.2 $2.1 $2.2 $3.4 Issuances of financial transmission rights 11.8 20.0 4.5 3.7 6.1 Gains (losses) included as a regulatory liability/asset 13.9 50.8 21.9 9.2 (16.0 ) Settlements (25.3 ) (72.7 ) (26.3 ) (13.8 ) 6.0 Balance as of December 31, 2018 $3.4 $8.3 $2.2 $1.3 ($0.5 ) |
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, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. |
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, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $51.6 $— $— $51.6 Escrow accounts 80.2 — — 80.2 Financial transmission rights — — 0.8 0.8 $131.8 $— $0.8 $132.6 Liabilities: Gas hedge contracts $2.3 $— $— $2.3 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $36.9 $— $— $36.9 Escrow accounts 32.4 — — 32.4 Financial transmission rights — — 2.2 2.2 $69.3 $— $2.2 $71.5 |
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 for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2019 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, 2019 $3.4 $8.3 $2.2 $1.3 ($0.5 ) Issuances of financial transmission rights 9.6 18.7 3.9 2.7 0.1 Gains (losses) included as a regulatory liability/asset 12.6 24.2 1.5 (1.0 ) 17.0 Settlements (22.3 ) (46.7 ) (6.8 ) (2.7 ) (15.7 ) Balance as of December 31, 2019 $3.3 $4.5 $0.8 $0.3 $0.9 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, 2018 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, 2018 $3.0 $10.2 $2.1 $2.2 $3.4 Issuances of financial transmission rights 11.8 20.0 4.5 3.7 6.1 Gains (losses) included as a regulatory liability/asset 13.9 50.8 21.9 9.2 (16.0 ) Settlements (25.3 ) (72.7 ) (26.3 ) (13.8 ) 6.0 Balance as of December 31, 2018 $3.4 $8.3 $2.2 $1.3 ($0.5 ) |
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, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. |
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, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $6.0 $— $— $6.0 Securitization recovery trust account 2.0 — — 2.0 Escrow accounts 82.6 — — 82.6 Financial transmission rights — — 0.3 0.3 $90.6 $— $0.3 $90.9 Liabilities: Gas hedge contracts $0.2 $— $— $0.2 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $19.7 $— $— $19.7 Securitization recovery trust account 2.2 — — 2.2 Escrow accounts 80.9 — — 80.9 Financial transmission rights — — 1.3 1.3 $102.8 $— $1.3 $104.1 Liabilities: Gas hedge contracts $0.1 $— $— $0.1 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2019 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, 2019 $3.4 $8.3 $2.2 $1.3 ($0.5 ) Issuances of financial transmission rights 9.6 18.7 3.9 2.7 0.1 Gains (losses) included as a regulatory liability/asset 12.6 24.2 1.5 (1.0 ) 17.0 Settlements (22.3 ) (46.7 ) (6.8 ) (2.7 ) (15.7 ) Balance as of December 31, 2019 $3.3 $4.5 $0.8 $0.3 $0.9 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, 2018 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, 2018 $3.0 $10.2 $2.1 $2.2 $3.4 Issuances of financial transmission rights 11.8 20.0 4.5 3.7 6.1 Gains (losses) included as a regulatory liability/asset 13.9 50.8 21.9 9.2 (16.0 ) Settlements (25.3 ) (72.7 ) (26.3 ) (13.8 ) 6.0 Balance as of December 31, 2018 $3.4 $8.3 $2.2 $1.3 ($0.5 ) |
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, 2019 and 2018 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 Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant (In Millions) 2019 Assets: Natural gas swaps and options Other deferred debits and other assets $0.8 $— $0.8 Entergy Louisiana Financial transmission rights Prepayments and other $3.4 ($0.1) $3.3 Entergy Arkansas Financial transmission rights Prepayments and other $4.5 $— $4.5 Entergy Louisiana Financial transmission rights Prepayments and other $0.8 $— $0.8 Entergy Mississippi Financial transmission rights Prepayments and other $0.3 $— $0.3 Entergy New Orleans Financial transmission rights Prepayments and other $1.0 ($0.1) $0.9 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.4 $— $2.4 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps Other current liabilities $2.3 $— $2.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 $— $0.2 Entergy New Orleans Instrument Balance Sheet Location Gross Fair Value (a) Offsetting Position (b) Net Fair Value (c) (d) Registrant 2018 Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas (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 Registrant Subsidiaries’ balance sheets (d) As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi and $4.1 million for Entergy Texas. |
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, 2019 , 2018 , and 2017 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($5.3) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($7.7) (a) Entergy Mississippi Financial transmission rights Purchased power $22.3 (b) Entergy Arkansas Financial transmission rights Purchased power $46.7 (b) Entergy Louisiana Financial transmission rights Purchased power $6.8 (b) Entergy Mississippi Financial transmission rights Purchased power $2.7 (b) Entergy New Orleans Financial transmission rights Purchased power $15.7 (b) Entergy Texas 2018 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale $4.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 (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 $25.3 (b) Entergy Arkansas Financial transmission rights Purchased power $72.7 (b) Entergy Louisiana Financial transmission rights Purchased power $26.3 (b) Entergy Mississippi Financial transmission rights Purchased power $13.8 (b) Entergy New Orleans Financial transmission rights Purchased power ($6.0) (b) Entergy Texas 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options 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 and options 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 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $12.9 $— $— $12.9 Securitization recovery trust account 37.7 — — 37.7 Financial transmission rights — — 0.9 0.9 $50.6 $— $0.9 $51.5 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets : Securitization recovery trust account $40.2 $— $— $40.2 Liabilities: Financial transmission rights $— $— $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 for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2019 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, 2019 $3.4 $8.3 $2.2 $1.3 ($0.5 ) Issuances of financial transmission rights 9.6 18.7 3.9 2.7 0.1 Gains (losses) included as a regulatory liability/asset 12.6 24.2 1.5 (1.0 ) 17.0 Settlements (22.3 ) (46.7 ) (6.8 ) (2.7 ) (15.7 ) Balance as of December 31, 2019 $3.3 $4.5 $0.8 $0.3 $0.9 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, 2018 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, 2018 $3.0 $10.2 $2.1 $2.2 $3.4 Issuances of financial transmission rights 11.8 20.0 4.5 3.7 6.1 Gains (losses) included as a regulatory liability/asset 13.9 50.8 21.9 9.2 (16.0 ) Settlements (25.3 ) (72.7 ) (26.3 ) (13.8 ) 6.0 Balance as of December 31, 2018 $3.4 $8.3 $2.2 $1.3 ($0.5 ) |
System Energy [Member] | |
Assets and liabilities at fair value on a recurring basis | System Energy 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $68.4 $— $— $68.4 Decommissioning trust funds (a): Equity securities 13.3 — — 13.3 Debt securities 176.3 209.9 — 386.2 Common trusts (b) 654.6 $258.0 $209.9 $— $1,122.5 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $95.6 $— $— $95.6 Decommissioning trust funds (a): Equity securities 4.4 — — 4.4 Debt securities 224.5 139.7 — 364.2 Common trusts (b) 500.9 $324.5 $139.7 $— $965.1 |
Decommissioning Trust Funds (Ta
Decommissioning Trust Funds (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Securities Held | The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities (a) $2,456 $96 $6 2018 Debt Securities (a) $2,495 $19 $35 (a) Debt securities presented herein do not include the $507 million and $389 million of debt securities held in the wholly-owned registered investment company as of December 31, 2019 and 2018 , respectively, which are not accounted for as available-for-sale. |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $404 $5 More than 12 months 38 1 Total $442 $6 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $652 $9 More than 12 months 782 26 Total $1,434 $35 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $128 $199 1 year - 5 years 807 1,066 5 years - 10 years 666 544 10 years - 15 years 125 77 15 years - 20 years 126 78 20 years+ 604 531 Total $2,456 $2,495 |
Entergy Arkansas [Member] | |
Securities Held | The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $412.8 $9.9 $2.6 2018 Debt Securities $381.3 $0.6 $8.2 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $104.8 $2.5 More than 12 months 7.7 0.1 Total $112.5 $2.6 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $65.8 $0.5 More than 12 months 231.1 7.7 Total $296.9 $8.2 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $44.1 $32.5 1 year - 5 years 109.1 170.3 5 years - 10 years 156.0 114.0 10 years - 15 years 31.3 10.3 15 years - 20 years 23.8 8.1 20 years+ 48.5 46.1 Total $412.8 $381.3 |
Entergy Louisiana [Member] | |
Securities Held | The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $601.5 $29.3 $0.8 2018 Debt Securities $532.9 $4.1 $6.0 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $71.2 $0.8 More than 12 months 7.9 — Total $79.1 $0.8 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $170.1 $2.1 More than 12 months 145.8 3.9 Total $315.9 $6.0 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $40.7 $31.1 1 year - 5 years 142.0 130.5 5 years - 10 years 132.4 111.0 10 years - 15 years 39.8 29.0 15 years - 20 years 49.2 37.1 20 years+ 197.4 194.2 Total $601.5 $532.9 |
System Energy [Member] | |
Securities Held | The available-for-sale securities held as of December 31, 2019 and 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $386.2 $15.1 $0.3 2018 Debt Securities $364.2 $2.9 $5.8 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $56.9 $0.3 More than 12 months 0.3 — Total $57.2 $0.3 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $89.7 $2.4 More than 12 months 79.8 3.4 Total $169.5 $5.8 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of December 31, 2019 and 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $8.5 $22.8 1 year - 5 years 154.6 188.0 5 years - 10 years 92.3 73.4 10 years - 15 years 13.4 5.2 15 years - 20 years 14.4 10.2 20 years+ 103.0 64.6 Total $386.2 $364.2 |
Transactions With Affiliates (T
Transactions With Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 |
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) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 |
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) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 |
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) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 |
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) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 |
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) 2019 $117.5 $277.8 $1.4 $— $51.6 $584.1 2018 $104.3 $299.0 $2.5 $— $58.8 $456.7 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $534.0 $665.4 $306.7 $292.1 $255.0 $156.2 2018 $471.9 $627.8 $266.8 $256.4 $240.2 $176.5 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 Intercompany Interest and Investment Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2019 $0.4 $128.5 $0.4 $— $0.4 $1.0 2018 $0.4 $128.2 $— $— $0.2 $1.2 2017 $— $128.0 $— $0.2 $— $0.9 |
Revenue Recognition Revenue R_2
Revenue Recognition Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disaggregation of Revenue [Table Text Block] | Entergy’s total revenues for the years ended December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $3,531,500 $3,565,522 Commercial 2,475,586 2,426,477 Industrial 2,541,287 2,499,227 Governmental 228,470 225,882 Total billed retail 8,776,843 8,717,108 Sales for resale (a) 285,722 299,567 Other electric revenues (b) 343,143 326,910 Revenues from contracts with customers 9,405,708 9,343,585 Other revenues (c) 24,270 40,526 Total electric revenues 9,429,978 9,384,111 Natural gas 153,954 156,436 Entergy Wholesale Commodities: Competitive businesses sales from contracts with customers (a) 1,164,552 1,547,994 Other revenues (c) 130,189 (79,089 ) Total competitive businesses revenues 1,294,741 1,468,905 Total operating revenues $10,878,673 $11,009,452 |
Entergy Arkansas [Member] | |
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 |
Entergy Louisiana [Member] | |
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 |
Entergy Mississippi [Member] | |
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 |
Entergy New Orleans [Member] | |
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 |
Entergy Texas [Member] | |
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 |
Quarterly Financial Data (Table
Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Quarterly Financial Data | Operating results for the four quarters of 2019 and 2018 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2019: First Quarter $2,609,584 $283,254 $258,646 $254,537 Second Quarter $2,666,209 $338,775 $240,533 $236,424 Third Quarter $3,140,575 $519,929 $369,459 $365,240 Fourth Quarter $2,462,305 $248,539 $389,606 $385,025 2018: First Quarter $2,723,881 $335,664 $136,200 $132,761 Second Quarter $2,668,770 $91,597 $248,860 $245,421 Third Quarter $3,104,319 $271,035 $539,818 $536,379 Fourth Quarter $2,512,482 ($228,931 ) ($62,323 ) ($65,900 ) Earnings (loss) per average common share 2019 2018 Basic Diluted Basic Diluted First Quarter $1.34 $1.32 $0.73 $0.73 Second Quarter $1.22 $1.22 $1.36 $1.34 Third Quarter $1.84 $1.82 $2.96 $2.92 Fourth Quarter $1.96 $1.94 ($0.37 ) ($0.36 ) |
Entergy Arkansas [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
Entergy Louisiana [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 |
Entergy Mississippi [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
Entergy New Orleans [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
Entergy Texas [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 Earnings Applicable to Common Equity/Stock Entergy Arkansas Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019: First Quarter $39,121 $15,398 $9,023 $21,342 Second Quarter $50,299 $26,667 $13,003 $38,936 Third Quarter $149,716 $56,237 $24,908 $73,114 Fourth Quarter $23,828 $21,623 $5,695 $25,425 2018: First Quarter $35,898 $22,605 $10,882 $17,350 Second Quarter $82,199 $38,003 $18,269 $30,789 Third Quarter $128,533 $50,495 $21,407 $65,846 Fourth Quarter $4,828 $14,141 $2,594 $48,250 |
System Energy [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2019 and 2018 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $545,812 $959,330 $282,244 $163,194 $340,474 $140,104 Second Quarter $542,929 $1,106,317 $302,737 $175,793 $363,580 $139,009 Third Quarter $687,526 $1,231,677 $398,732 $194,204 $442,877 $145,472 Fourth Quarter $483,327 $987,851 $339,330 $153,032 $342,024 $148,825 2018: First Quarter $551,024 $1,029,344 $315,743 $188,275 $348,940 $148,443 Second Quarter $494,605 $1,072,788 $353,689 $178,446 $403,486 $112,456 Third Quarter $568,399 $1,206,612 $367,734 $200,182 $477,231 $78,965 Fourth Quarter $446,615 $987,576 $297,946 $150,487 $376,245 $116,843 Operating Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $42,471 $153,944 $30,792 $16,136 $16,741 $31,368 Second Quarter $69,774 $241,520 $45,607 $17,509 $36,022 $24,300 Third Quarter $182,176 $336,754 $87,024 $28,876 $69,510 $29,086 Fourth Quarter $32,576 $164,424 $40,331 $6,164 $24,229 $30,231 2018: First Quarter $66,647 $141,319 $41,432 $17,869 $41,082 $30,941 Second Quarter $26,501 $150,160 ($63,801 ) $27,943 $58,637 $23,406 Third Quarter $34,785 $236,518 $45,215 $21,544 $99,966 ($17,879 ) Fourth Quarter ($82,704 ) $147,774 $23,600 $6,836 $6,741 $7,212 Net Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2019: First Quarter $39,121 $127,633 $15,398 $9,023 $21,342 $23,578 Second Quarter $50,299 $183,084 $26,667 $13,003 $38,936 $24,472 Third Quarter $149,716 $255,260 $56,237 $24,908 $73,224 $25,031 Fourth Quarter $23,828 $125,560 $21,623 $5,695 $25,895 $26,039 2018: First Quarter $36,255 $111,593 $22,843 $10,882 $17,350 $22,308 Second Quarter $82,556 $184,358 $38,242 $18,269 $30,789 $23,387 Third Quarter $128,890 $218,308 $50,733 $21,407 $65,846 $22,972 Fourth Quarter $5,006 $161,355 $14,260 $2,594 $48,250 $25,442 |
Summary Of Significant Accoun_4
Summary Of Significant Accounting Policies (Narrative) (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
Mar. 31, 2019$ / kWh | Mar. 31, 2018$ / kWh | Mar. 31, 2017$ / kWh | Dec. 31, 2014USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2019USD ($)$ / kWhshares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Jan. 31, 2019USD ($) | |
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | $ 263,000 | |||||||||
Income Tax Expense (Benefit) | $ (169,825) | $ (1,036,826) | $ 542,570 | |||||||
Depreciation rates on average depreciable property | 2.80% | 2.80% | 3.00% | |||||||
Depreciation rates on average depreciable utility property | 2.60% | 2.60% | 2.60% | |||||||
Depreciation rates on average depreciable non-utility property | 18.30% | 18.60% | 22.30% | |||||||
Accumulated depreciation of non-utility property | $ 177,000 | $ 184,000 | $ 177,000 | |||||||
Construction expenditures in accounts payable | 311,000 | $ 406,000 | $ 311,000 | |||||||
Options outstanding excluded from the calculation of diluted earnings per share | shares | 173,290 | 956,550 | 2,927,512 | |||||||
Incremental Common Shares Attributable to Share-based Payment Arrangements | shares | 600,000 | 300,000 | 200,000 | |||||||
Asset Retirement Obligations, Noncurrent | 6,355,543 | $ 6,159,212 | $ 6,355,543 | |||||||
Asset Impairment Charges | 290,027 | 532,321 | $ 538,372 | |||||||
After-Tax Asset Impairment Charge | $ 4,200 | |||||||||
Asset Write-Offs, Impairments, And Related Charges | 226,678 | 491,739 | 357,251 | |||||||
Assets, Fair Value Disclosure | 7,818,000 | 7,430,000 | 7,818,000 | |||||||
Property, Plant and Equipment, Net | 304,382 | 332,864 | 304,382 | |||||||
Decommissioning | 400,802 | 388,508 | 405,685 | |||||||
Entergy Wholesale Commodities [Member] | ||||||||||
Income Tax Expense (Benefit) | (161,295) | (269,025) | (146,480) | |||||||
Asset Write-Offs, Impairments, And Related Charges | 290,000 | 532,000 | 538,000 | |||||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | 79,000 | 421,000 | ||||||||
Asset Write-Offs, Impairments, And Related Charges | 290,027 | 532,321 | 538,372 | |||||||
Entergy Louisiana [Member] | ||||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 51,000 | |||||||||
Income Tax Expense (Benefit) | $ 121,623 | $ (54,611) | $ 485,298 | |||||||
Depreciation rates on average depreciable property | 2.40% | 2.30% | 2.30% | |||||||
Accumulated depreciation of non-utility property | 161,200 | $ 168,500 | $ 161,200 | |||||||
Construction expenditures in accounts payable | 104,600 | $ 115,100 | 104,600 | |||||||
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 | 1,280,272 | $ 1,497,349 | 1,280,272 | |||||||
Assets, Fair Value Disclosure | 1,631,400 | 1,870,200 | 1,631,400 | |||||||
Property, Plant and Equipment, Net | 286,555 | 312,896 | 286,555 | |||||||
Asset Write-Offs, Impairments, And Related Charges | $ 16,000 | |||||||||
Decommissioning | 59,346 | 53,736 | $ 49,457 | |||||||
Entergy Texas [Member] | ||||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 16,000 | |||||||||
Income Tax Expense (Benefit) | $ (53,896) | $ (26,243) | $ 48,481 | |||||||
Depreciation rates on average depreciable property | 3.00% | 2.70% | 2.60% | |||||||
Accumulated depreciation of non-utility property | 4,900 | $ 4,900 | $ 4,900 | |||||||
Construction expenditures in accounts payable | 55,600 | 88,100 | 55,600 | |||||||
Asset Retirement Obligations, Noncurrent | 7,222 | 7,631 | 7,222 | |||||||
Assets, Fair Value Disclosure | 51,500 | |||||||||
Property, Plant and Equipment, Net | 376 | 376 | 376 | |||||||
Entergy Arkansas [Member] | ||||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 59,000 | |||||||||
Income Tax Expense (Benefit) | $ (46,769) | $ (297,067) | $ 93,804 | |||||||
Depreciation rates on average depreciable property | 2.50% | 2.50% | 2.50% | |||||||
Construction expenditures in accounts payable | 35,700 | $ 67,900 | $ 35,700 | |||||||
Rate At Which Electricity Sold To Retail Customers | $ / kWh | 0.01882 | 0.01547 | 0.01164 | |||||||
Asset Retirement Obligations, Noncurrent | 1,048,428 | 1,242,616 | 1,048,428 | |||||||
Assets, Fair Value Disclosure | 920,100 | 1,108,600 | 920,100 | |||||||
Decommissioning | 68,030 | 60,420 | $ 56,860 | |||||||
Entergy Mississippi [Member] | ||||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 26,000 | |||||||||
Income Tax Expense (Benefit) | $ 30,866 | $ (125,773) | $ 73,919 | |||||||
Depreciation rates on average depreciable property | 3.20% | 3.20% | 3.10% | |||||||
Accumulated depreciation of non-utility property | 500 | $ 500 | $ 500 | |||||||
Construction expenditures in accounts payable | 13,600 | 34,200 | 13,600 | |||||||
Asset Retirement Obligations, Noncurrent | 9,206 | 9,727 | 9,206 | |||||||
Assets, Fair Value Disclosure | 71,500 | 132,600 | 71,500 | |||||||
Property, Plant and Equipment, Net | 4,576 | 4,560 | 4,576 | |||||||
Entergy New Orleans [Member] | ||||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | $ 7,000 | |||||||||
Income Tax Expense (Benefit) | $ 186 | $ (2,436) | $ 33,278 | |||||||
Depreciation rates on average depreciable property | 3.20% | 3.50% | 3.50% | |||||||
Construction expenditures in accounts payable | 5,800 | $ 18,400 | $ 5,800 | |||||||
Asset Retirement Obligations, Noncurrent | 3,291 | 3,522 | 3,291 | |||||||
Assets, Fair Value Disclosure | 104,100 | 90,900 | 104,100 | |||||||
Property, Plant and Equipment, Net | 1,016 | 1,016 | 1,016 | |||||||
System Energy [Member] | ||||||||||
Income Tax Expense (Benefit) | $ 15,349 | $ (47,675) | $ 69,969 | |||||||
Depreciation rates on average depreciable property | 2.10% | 1.90% | 2.80% | |||||||
Construction expenditures in accounts payable | 26,300 | $ 23,200 | $ 26,300 | |||||||
Asset Retirement Obligations, Noncurrent | 896,000 | 931,729 | 896,000 | |||||||
Assets, Fair Value Disclosure | 965,100 | 1,122,500 | 965,100 | |||||||
Decommissioning | $ 35,729 | $ 34,336 | $ 43,347 | |||||||
Vermont Yankee [Member] | Entergy Wholesale Commodities [Member] | ||||||||||
Asset Impairment Charges | $ 173,000 |
Summary Of Significant Accoun_5
Summary Of Significant Accounting Policies (Schedule Of Net Property, Plant, And Equipment) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | $ 7,383,000 | $ 6,592,000 |
Distribution | 8,972,000 | 8,343,000 |
Other | 2,636,000 | 2,022,000 |
Construction work in progress | 2,823,291 | 2,888,639 |
Nuclear fuel | 677,000 | 861,000 |
Property, plant and equipment - net | 35,182,693 | 31,974,446 |
Entergy Arkansas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 1,966,000 | 1,792,000 |
Distribution | 2,457,000 | 2,329,000 |
Other | 454,000 | 311,000 |
Construction work in progress | 197,775 | 243,731 |
Nuclear fuel | 196,000 | 221,000 |
Property, plant and equipment - net | 7,666,979 | 7,210,556 |
Entergy Louisiana [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 2,944,000 | 2,571,000 |
Distribution | 3,078,000 | 2,882,000 |
Other | 884,000 | 699,000 |
Construction work in progress | 1,383,603 | 1,864,582 |
Nuclear fuel | 268,000 | 298,000 |
Property, plant and equipment - net | 15,388,901 | 14,068,741 |
Entergy Mississippi [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 1,136,000 | 1,046,000 |
Distribution | 1,489,000 | 1,342,000 |
Other | 309,000 | 242,000 |
Construction work in progress | 88,373 | 128,149 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 3,866,962 | 3,267,048 |
Entergy New Orleans [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 96,000 | 78,000 |
Distribution | 505,000 | 471,000 |
Other | 270,000 | 233,000 |
Construction work in progress | 201,829 | 146,668 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 1,265,070 | 1,125,352 |
Entergy Texas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 1,202,000 | 1,063,000 |
Distribution | 1,443,000 | 1,319,000 |
Other | 256,000 | 193,000 |
Construction work in progress | 760,354 | 325,193 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 4,188,529 | 3,414,608 |
System Energy [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 39,000 | 40,000 |
Distribution | 0 | 0 |
Other | 30,000 | 39,000 |
Construction work in progress | 164,996 | 70,156 |
Nuclear fuel | 150,000 | 235,000 |
Property, plant and equipment - net | 2,099,942 | 2,129,081 |
Utility [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 7,383,000 | 6,590,000 |
Distribution | 8,972,000 | 8,343,000 |
Other | 2,620,000 | 2,011,000 |
Construction work in progress | 2,814,000 | 2,815,000 |
Nuclear fuel | 614,000 | 754,000 |
Property, plant and equipment - net | 34,911,000 | 31,546,000 |
Entergy Wholesale Commodities [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 0 | 2,000 |
Distribution | 0 | 0 |
Other | 8,000 | 2,000 |
Construction work in progress | 9,000 | 74,000 |
Nuclear fuel | 63,000 | 107,000 |
Property, plant and equipment - net | 264,000 | 419,000 |
Parent & Other [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 0 | 0 |
Distribution | 0 | 0 |
Other | 8,000 | 9,000 |
Construction work in progress | 0 | 0 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 8,000 | 9,000 |
Nuclear Plant [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 7,439,000 | 7,096,000 |
Nuclear Plant [Member] | Entergy Arkansas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 1,611,000 | 1,494,000 |
Nuclear Plant [Member] | Entergy Louisiana [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 4,042,000 | 3,725,000 |
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 | 1,716,000 | 1,745,000 |
Nuclear Plant [Member] | Utility [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 7,369,000 | 6,964,000 |
Nuclear Plant [Member] | Entergy Wholesale Commodities [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 70,000 | 132,000 |
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 | 5,253,000 | 4,171,000 |
Other Plant In Service [Member] | Entergy Arkansas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 785,000 | 820,000 |
Other Plant In Service [Member] | Entergy Louisiana [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 2,789,000 | 2,029,000 |
Other Plant In Service [Member] | Entergy Mississippi [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 845,000 | 509,000 |
Other Plant In Service [Member] | Entergy New Orleans [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 192,000 | 196,000 |
Other Plant In Service [Member] | Entergy Texas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 528,000 | 515,000 |
Other Plant In Service [Member] | System Energy [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Other Plant In Service [Member] | Utility [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 5,139,000 | 4,069,000 |
Other Plant In Service [Member] | Entergy Wholesale Commodities [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 114,000 | 102,000 |
Other Plant In Service [Member] | Parent & Other [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | $ 0 | $ 0 |
Summary Of Significant Accoun_6
Summary Of Significant Accounting Policies (Schedule Of Depreciation Rates On Average Depreciable Property) (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation rates on average depreciable property | 2.80% | 2.80% | 3.00% |
Entergy Arkansas [Member] | |||
Depreciation rates on average depreciable property | 2.50% | 2.50% | 2.50% |
Entergy Louisiana [Member] | |||
Depreciation rates on average depreciable property | 2.40% | 2.30% | 2.30% |
Entergy Mississippi [Member] | |||
Depreciation rates on average depreciable property | 3.20% | 3.20% | 3.10% |
Entergy New Orleans [Member] | |||
Depreciation rates on average depreciable property | 3.20% | 3.50% | 3.50% |
Entergy Texas [Member] | |||
Depreciation rates on average depreciable property | 3.00% | 2.70% | 2.60% |
System Energy [Member] | |||
Depreciation rates on average depreciable property | 2.10% | 1.90% | 2.80% |
Summary Of Significant Accoun_7
Summary Of Significant Accounting Policies (Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($)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 | 826 |
Ownership | 31.50% |
Investment | $ 142 |
Accumulated Depreciation | $ 104 |
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 | $ 35 |
Accumulated Depreciation | $ 29 |
Independence Common Facilities [Member] | Entergy Wholesale Commodities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 7.18% |
Investment | $ 17 |
Accumulated Depreciation | $ 13 |
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 | 1,638 |
Ownership | 57.00% |
Investment | $ 555 |
Accumulated Depreciation | $ 380 |
Ouachita Common Facilities [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 66.67% |
Investment | $ 173 |
Accumulated Depreciation | $ 153 |
Ouachita Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 33.33% |
Investment | $ 90 |
Accumulated Depreciation | $ 77 |
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 | 525 |
Ownership | 40.25% |
Investment | $ 286 |
Accumulated Depreciation | $ 207 |
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 | 525 |
Ownership | 29.75% |
Investment | $ 204 |
Accumulated Depreciation | $ 120 |
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 | 525 |
Ownership | 10.90% |
Investment | $ 115 |
Accumulated Depreciation | $ 66 |
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 | 19.95% |
Investment | $ 20 |
Accumulated Depreciation | $ 9 |
Roy S. Nelson Unit 6 Common Facilities [Member] | Entergy Texas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 14.75% |
Investment | $ 7 |
Accumulated Depreciation | $ 3 |
Roy S. Nelson Unit 6 Common Facilities [Member] | Entergy Wholesale Commodities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 5.40% |
Investment | $ 3 |
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 | 576 |
Ownership | 24.15% |
Investment | $ 151 |
Accumulated Depreciation | $ 124 |
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 | 576 |
Ownership | 17.85% |
Investment | $ 113 |
Accumulated Depreciation | $ 80 |
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 | $ 4 |
Accumulated Depreciation | $ 1 |
Acadia Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 50.00% |
Investment | $ 20 |
Accumulated Depreciation | $ 1 |
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 | 1,668 |
Ownership | 25.00% |
Investment | $ 271 |
Accumulated Depreciation | $ 163 |
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 | 1,393 |
Ownership | 90.00% |
Investment | $ 5,071 |
Accumulated Depreciation | $ 3,285 |
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 | $ 74 |
Accumulated Depreciation | $ 53 |
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 | $ 0.4 |
Accumulated Depreciation | $ 0.1 |
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 | $ 0.1 |
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 | $ 29 |
Accumulated Depreciation | $ 6 |
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 | $ 57 |
Accumulated Depreciation | $ 6 |
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 | $ 29 |
Accumulated Depreciation | $ 6 |
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 Accoun_8
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, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Basic earnings per share | |||||||||||
Net Income (Loss) Attributable to Parent | $ 1,241,226 | $ 848,661 | $ 411,612 | ||||||||
Net Income Attributable to Entergy Corporation, Shares | 195,195,858 | 181,409,597 | 179,671,797 | ||||||||
Basic earnings per share (in usd per share) | $ 1.96 | $ 1.84 | $ 1.22 | $ 1.34 | $ (0.37) | $ 2.96 | $ 1.36 | $ 0.73 | $ 6.36 | $ 4.68 | $ 2.29 |
Average dilutive effect of: | |||||||||||
Stock options, Shares | 600,000 | 300,000 | 200,000 | ||||||||
Stock options $/share | $ (0.02) | $ (0.01) | $ 0 | ||||||||
Average Dilutive Effect Of Restricted Stock Shares | 800,000 | 700,000 | 600,000 | ||||||||
Average Dilutive Effect Of Restricted Stock Per Share | $ (0.03) | $ (0.02) | $ (0.01) | ||||||||
Incremental Common Shares Attributable to Dilutive Effect of Equity Forward Agreements | 400,000 | 1,000,000 | 0 | ||||||||
Average Dilutive Effect Of Equity Forwards | $ (0.01) | $ (0.02) | $ 0 | ||||||||
Diluted earnings per share, Shares | 196,999,284 | 183,378,513 | 180,535,893 | ||||||||
Diluted earnings per share (in usd per share) | $ 1.94 | $ 1.82 | $ 1.22 | $ 1.32 | $ (0.36) | $ 2.92 | $ 1.34 | $ 0.73 | $ 6.30 | $ 4.63 | $ 2.28 |
Rate And Regulatory Matters (Na
Rate And Regulatory Matters (Narrative) (Details) | Jul. 31, 2019USD ($) | Jan. 01, 2018USD ($) | Feb. 29, 2020USD ($) | Jan. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Nov. 30, 2019USD ($) | Oct. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Aug. 31, 2019USD ($) | Jul. 31, 2019USD ($) | Jun. 30, 2019USD ($) | May 31, 2019USD ($) | Apr. 30, 2019USD ($) | Mar. 31, 2019USD ($)$ / kWh | Feb. 28, 2019USD ($) | Jan. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Nov. 30, 2018USD ($) | Oct. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Aug. 31, 2018USD ($) | Jul. 31, 2018USD ($) | Jun. 30, 2018USD ($) | May 31, 2018USD ($) | Apr. 30, 2018USD ($) | Mar. 31, 2018USD ($)$ / kWh | Feb. 28, 2018USD ($) | Dec. 31, 2017USD ($) | Nov. 30, 2017USD ($) | Oct. 31, 2017USD ($) | Jul. 31, 2017USD ($) | Jun. 30, 2017USD ($) | May 31, 2017USD ($) | Apr. 30, 2017USD ($) | Mar. 31, 2017$ / kWh | Jan. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Nov. 30, 2016USD ($) | Oct. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Jul. 31, 2016USD ($) | Jun. 30, 2016USD ($) | Apr. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Oct. 31, 2015USD ($) | Jul. 31, 2015USD ($) | May 31, 2015USD ($) | Jan. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Aug. 31, 2014USD ($)$ / unitshares | Jul. 31, 2014USD ($) | Jun. 30, 2014USD ($) | Jan. 31, 2014USD ($) | Feb. 29, 2012USD ($) | Jul. 31, 2010USD ($)$ / unitshares | Jun. 30, 2010USD ($) | Aug. 31, 2008USD ($)$ / unitshares | Jul. 31, 2008USD ($)shares | Apr. 30, 2007USD ($) | Jun. 30, 2005 | Sep. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($)$ / kWh | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2008USD ($) | Jul. 27, 2019 | Apr. 23, 2018 | Dec. 31, 2019USD ($) | Dec. 31, 2021 | Dec. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2024USD ($) | Sep. 30, 2017USD ($) | Apr. 30, 2010USD ($) | Aug. 26, 2008USD ($) | Jul. 29, 2008USD ($) | Apr. 30, 2008USD ($) | |
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 35.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 226,678,000 | $ 491,739,000 | $ 357,251,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Other Property, Plant, and Equipment | (305,472,000) | (26,623,000) | (16,762,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
After-Tax Asset Impairment Charge | $ 4,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 1,088,419,000 | (174,271,000) | 967,923,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | $ 0 | $ 27,251,000 | 0 | 27,251,000 | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 5,292,055,000 | 4,746,496,000 | 5,292,055,000 | 4,746,496,000 | 5,292,055,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | 1,961,005,000 | 1,620,254,000 | 1,961,005,000 | 1,620,254,000 | $ 1,961,005,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (14,781,000) | $ (803,323,000) | 2,915,795,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment, Useful Life | 15 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period over which advanced meters will be deployed | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion of Waterford 3 purchase price satisfied through issuance of debt | $ 52,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Increase Included in Formula Rate Plan | $ 109,500,000 | $ 4,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan increase excluding Tax Cuts and Jobs Act Credits | $ 98,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan for reduction in MISO cost recovery mechanism | $ 40,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond proceeds loaned by LCDA to LURC under Louisiana Act 55 financing | $ 309,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual customer credits | $ 6,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LCDA issuance of bonds under Louisiana Act 55 financing | 314,850,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount transfered to restricted escrow account as storm damage reserve | 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.84% | 9.95% | 9.80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cap on potential revenue increase for 2018 rate case evaluation period | $ 35,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cap on potential revenue increase for 2018 and 2019 rate case evaluation periods | $ 70,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Requirement for excess transmission project costs eligible for costs recovery mechanism | $ 100,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned Return on Common Equity Resulting From Revenue-Neutral Realignments to Other Recovery Mechanisms | 8.16% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned Return on Common Equity Excluding Realignments | 9.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Project and Replacement Power Cost Disallowances | $ 2,000,000 | $ 71,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ALJ Recommended Charges Related to Waterford 3 Steam Generator Project | $ 77,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intervenor Recommended Project and Replacement Power Cost Disallowances | $ 141,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ALJ Recommended Disallowance of Capital Costs | $ 67,000,000 | $ 67,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Write-Off of Waterford 3 Replacement Steam Generator | 45,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Charge Recorded Due to Probability of Non-Recovery Per ALJ Recommendation | $ 32,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund To Customers | $ 71,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund to Customers Credited Through Formula Rate Plan | 68,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 10.79% | 10.61% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 813,160,000 | $ 621,003,000 | 801,645,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum customer benefits | $ 30,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond proceeds transfered to company under Louisiana Act 55 financing | $ 293,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 1,315,211,000 | 1,105,077,000 | 1,315,211,000 | 1,105,077,000 | 1,315,211,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC staff recommended fuel adjustment clause refund including interest | $ 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund to customers related to claim of vendor fault in servicing nuclear plant for Entergy Gulf States Louisiana business | $ 900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund to customers related to claim of vendor fault in servicing nuclear plant | $ 2,300,000 | $ 4,300,000 | 7,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Requested Recovery of Previously Deferred Operation and Maintenance Expenses | $ 1,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | 794,140,000 | 748,784,000 | $ 794,140,000 | 748,784,000 | 794,140,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 118,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated implementation costs for advanced metering infrastructure (AMI) | $ 330,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate At Which Electricity Sold To Retail Customers | $ / kWh | 0.046 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan revenue decrease | $ 17,600,000 | $ 16,900,000 | 8,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan revenue decrease resulting from legacy Entergy Gulf States Louisiana revenue | 9,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan revenue decrease resulting from incremental revenue | 3,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current MISO formula rate plan cost recovery | $ 46,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduced proposed MISO formula rate plan cost recovery | $ 6,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in Revenue Requirement | $ 3,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduced earnings bandwidth basis points | 6000.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (35,881,000) | (125,185,000) | 605,453,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly regulatory liability established to reflect tax benefits already included in retail rates | $ 9,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, proposed customer credits | $ 700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed prospective reduction in the gas infrastructure rider | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional Requested Offset to Return of Unprotected Excess ADIT From Previously Deferred Operation and Maintenance Expenses | $ 700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricane Rita [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction to Louisiana Act 55 financing savings obligation regulatory liability due to Tax Cuts and Jobs Act | 22,300,000 | 22,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum amount of benefits committed to pass on to the customers | $ 40,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prospective Annual rate reductions for five years | $ 8,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond issued by LCDA | $ 687,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount transfer to restricted escrow account as storm damage reserve by corporation | $ 152,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Transferred to Entergy Louisiana | 527,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | 679,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount used to acquire membership interest units in wholly owned Subsidiary | $ 545,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class preferred, non-voting, membership interest units | shares | 5,449,861.85 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual distribution rate | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount withdrawn from restricted escrow account as approved by units of wholly owned subsidiary | $ 17,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricane Gustav and Ike [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction to Louisiana Act 55 financing savings obligation regulatory liability due to Tax Cuts and Jobs Act | 2,700,000 | $ 2,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment, Useful Life | 15 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period over which advanced meters will be deployed | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Return on Equity, Percentage | 6.93% | 6.94% | 7.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 7.81% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized Storm Damage Reserve Balance | 15,000,000 | $ 15,000,000 | $ 15,000,000 | 15,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly storm damage provision | 0 | 1,750,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance At Which Storm Damage Accrual Will Return To Current Level | $ 10,000,000 | $ 10,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 150,791,000 | $ 305,000 | 183,951,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | 0 | 8,016,000 | 0 | 8,016,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected under-recovery Energy Cost Recovery Rider | $ 57,000,000 | $ 57,000,000 | $ 57,000,000 | $ 61,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected Over-Recovery Energy Cost Recovery Rider | $ 39,600,000 | $ 39,600,000 | $ 39,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 377,972,000 | 343,049,000 | 377,972,000 | 343,049,000 | 377,972,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | 21,512,000 | 33,622,000 | 21,512,000 | 33,622,000 | 21,512,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 36,800,000 | 10,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 32,800,000 | 11,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated implementation costs for advanced metering infrastructure (AMI) | 132,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption of Preferred Equity | $ 21,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (21,524,000) | (131,856,000) | 405,395,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offset of Unprotected Excess ADIT Against Net Utility Plant Approved in Stipulation | 127,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Offset of Unprotected Excess ADIT Against Other Regulatory Assets Approved in Stipulation | 2,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Return of excess ADIT through customer bill credits | 25,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Return of unprotected excess ADIT through sale of fuel oil inventory | $ 5,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed customer credits due to internal restructuring | 27,000,000 | 27,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Gulf States Louisiana [Member] | Hurricane Rita [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment, Useful Life | 15 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Asset, Amortization Period | 12 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount included in electric rates per year to fund the smart energy efficiency programs as per rate case settlement | $ 3,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Smart 2 Project Costs | $ 12,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing order authorized to issue storm cost recovery bonds | $ 98,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of Hurricane Issac storm cost to be recovered through securitization | 31,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Replenishment amount for storm reserve spending | 63,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount authorized for storm reserve | 75,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ 52,815,000 | 50,716,000 | 77,831,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayment of long-term payable due to Entergy Louisiana | (1,979,000) | (2,077,000) | (2,104,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Approved Total Hurricane Isaac Storm Restoration Costs | 49,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hurricane Isaac Storm Restoration Costs Approved as Recoverable from Electric Customers | $ 31,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 259,363,000 | 229,796,000 | 259,363,000 | 229,796,000 | 259,363,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | $ 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Smart Program Funding | $ 11,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocation of benefits resulting from Tax Cuts and Jobs Act to Energy Smart Programs | 13,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed customer credits in current year | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed customer credits in first quarter of year after transaction closes | 1,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed customer credits per month in second year after transaction closes | 117,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Incremental costs related to one year acceleration of implementation of advanced metering infrastructure | $ 4,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 45,000,000 | 39,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provision for Rate Refund | 10,000,000 | 10,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets for Rate Case Costs and Algiers Customer Migration Costs | 12,000,000 | 12,000,000 | 12,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets for Retired General Plant Costs | 10,000,000 | 10,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated implementation costs for advanced metering infrastructure (AMI) | $ 75,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption of Preferred Equity | $ 21,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Call Premium on Preferred Stock | $ 819,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (22,105,000) | (28,459,000) | 110,147,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Benefit to electric customers related to reduction in income tax expense under Tax Act | $ 8,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Benefit to gas customers related to reduction in income tax expense under Tax Act | $ 1,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Orleans City Council Recommended Rate Reduction - Electric | $ 33,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Orleans City Council Recommended Rate Reduction - Gas | 3,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intervenor Recommended Rate Reduction - Electric | 49,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intervenor Recommended Rate Reduction - Gas | $ 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Texas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment, Useful Life | 7 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period over which advanced meters will be deployed | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion of requested increase in base rates associated with moving costs | $ 48,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Remedy Payments | $ 10,900,000 | $ 10,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Request filed for refund of fuel cost recovery over collections | $ 30,500,000 | $ 30,700,000 | $ 41,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Requested increase in retail revenues per request for annual distribution cost recovery factor rider | $ 19,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Approved Recovery Through Rider Revenues | 8,650,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate reduction | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund To Customers | $ 68,000,000 | 56,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ 105,501,000 | 135,992,000 | 124,654,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 512,648,000 | 598,048,000 | 512,648,000 | 598,048,000 | 512,648,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ 1,600,000,000 | $ 1,770,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated deferred fuel under recovery balance for reconciliation period | $ 25,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 Increase in Revenue Requirement | 118,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | 42,085,000 | 47,884,000 | 42,085,000 | 47,884,000 | 42,085,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 2,700,000 | 166,000,000 | $ 29,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 53,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized collection through TCRF rider | $ 29,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated implementation costs for advanced metering infrastructure (AMI) | 132,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (105,517,000) | (19,336,000) | 410,968,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Return of excess ADIT through customer bill credits | 185,200,000 | 185,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net book value of Neches and Sabine 2 plants | 24,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Storm and Property Reserve Deficiency, Noncurrent | 20,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amended annual revenue requirement from distribution cost recovery factor rider | $ 18,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund due customers resulting from lower federal income tax rate | 25,000,000 | 25,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capitalized skylining tree hazard costs | 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund to customers of protected excess accumulated deferred taxes | 242,500,000 | $ 242,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Requested recovery of internal and external litigation expenses previously paid or incurred | 7,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended disallowance of requested recovery of expenses previously paid or incurred | 1,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Texas [Member] | Hurricane Rita [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing order authorized to issue storm cost recovery bonds | $ 353,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment, Useful Life | 15 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period over which advanced meters will be deployed | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Asset, Amortization Period | 15 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Incremental Fuel and Replacement Energy Costs | $ 65,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund to Customers Credited Through Formula Rate Plan | 46,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Collected From Customers | $ 156,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ 216,195,000 | (44,360,000) | 233,648,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | 0 | 19,235,000 | 0 | 19,235,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 1,666,850,000 | 1,534,977,000 | 1,666,850,000 | 1,534,977,000 | 1,666,850,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | $ 4,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 9.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed rate reduction in revised filing | 10,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory asset related to scrubber costs incurred at White Bluff plant | $ 11,200,000 | $ 11,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected Increase in Revenue Requirement | 66,700,000 | $ 169,000,000 | $ 126,200,000 | $ 129,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | 559,555,000 | 402,668,000 | 559,555,000 | 402,668,000 | 559,555,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion of Approved Revenue Requirement Increase Subject to Possible Future Adjustment and Refund to Customers | $ 45,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 15,300,000 | 14,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated implementation costs for advanced metering infrastructure (AMI) | $ 208,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption of Preferred Equity | 32,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ALJ Recommended Percentage By Which Payments Be Reduced | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liability Recorded Related to Estimated Payments Due Utility Operating Companies | 35,000,000 | 87,000,000 | 35,000,000 | 87,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Asset Recorded to Represent Estimate of Recoverable Retail Portion of Costs | 31,000,000 | $ 75,000,000 | 31,000,000 | $ 75,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate At Which Electricity Sold To Retail Customers | $ / kWh | 0.01882 | 0.01547 | 0.01164 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in Rate At Which Electricity Sold To Retail Customers | $ / kWh | 0.01462 | 0.01882 | 0.01547 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | 39,293,000 | (341,682,000) | 1,043,507,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tax benefits to customers resulting from tax adjustment rider | $ 467,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual revenue constraint per rate class percentage | 4.00% | 400.00% | 400.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduced proposed increase in revenue requirement to comply with annual revenue constraint | $ 65,400,000 | 71,100,000 | $ 71,100,000 | $ 70,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected Revenue Deficiency | $ 95,600,000 | $ 73,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed customer credits due to internal restructuring | $ 39,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 10.94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments from utility operating companies as percentage of average production cost | 11.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ 114,469,000 | 46,434,000 | 148,565,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC requested authorized return on equity for System Energy in return on equity proceeding | 7.97% | 7.81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC/MPSC requested authorized return on equity for System Energy in return on equity proceeding | 8.41% | 8.24% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percent Interest in Grand Gulf | 90.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual renewal lease payments on Grand Gulf Sale-Leaseback | 17,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC requested rate reduction for ADIT associated with uncertain tax positions resulting from Grand Gulf sale-leaseback | 512,000,000 | 334,500,000 | 334,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC requested refund of cost of capital additions resulting from Grand Gulf sale-leaseback | $ 274,800,000 | 274,800,000 | 274,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction of previously recorded deprecation expense | $ 26,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | 490,083,000 | 446,371,000 | $ 490,083,000 | 446,371,000 | 490,083,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FERC requested authorized return on equity for System Energy in return on equity proceeding | 9.89% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | 533,415,000 | 381,887,000 | 533,415,000 | 381,887,000 | 533,415,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | 130,949,000 | (156,802,000) | $ 331,251,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public utilities requested return on equity percentage, median 2nd refund period | 9.65% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public utilities requested return on equity percentage, midpoint 2nd refund period | 9.74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Modified public utilities requested return on equity percentage based on benchmarks, median 2nd refund period | 9.91% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Modified public utilities requested return on equity percentage based on benchmarks, midpoint 2nd refund period | 10.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC/MPSC revised argued authorized return on equity for System Energy in return on equity proceeding | 8.32% | 8.26% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FERC requested authorized return on equity for System Energy in return on equity proceeding, rebuttal | 9.63% | 9.40% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ratepayer savings due to Grand Gulf sale-leaseback initial and renewal terms | $ 850,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FERC requested rate reduction for ADIT associated with uncertain tax positions resulting from Grand Gulf sale-leaseback | $ 511,000,000 | 602,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FERC staff argued over-recovery in depreciation expense for capital additions | $ 32,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Holdings Company LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class preferred, non-voting, membership interest units | shares | 2,935,152.69 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual distribution rate | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation price per unit | $ / unit | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net worth required under terms of membership interest | $ 1,750,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | Entergy Texas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended disallowance of requested recovery of expenses previously paid or incurred | $ 3,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended adjustment to earned return on equity | 8.37% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 10.32% | 10.10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 9.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Equity Capital Structure, Percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Entergy Texas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended disallowance of requested recovery of expenses previously paid or incurred | $ 4,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended adjustment to earned return on equity | 8.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 10.69% | 10.70% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percent Equity in Proposed Common Equity Ratio | 37.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percent Debt in Proposed Common Equity Ratio | 63.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC Argued Equity Capital Structure, Percentage | 49.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC and MPSC Argued Equity Capital Structure, Percentage | 35.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC and MPSC Alternative Argued Equity Capital Structure, Percentage | 46.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FERC Percent Equity in Proposed Common Equity Ratio | 46.74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FERC Percent Debt in Proposed Common Equity Ratio | 53.26% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gas [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.06% | 6.37% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Increase in Revenue Requirement | $ 100,000 | $ 1,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase | $ 2,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 2.69% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Attorney General Litigation Costs [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [1] | 29,500,000 | 23,600,000 | 29,500,000 | 23,600,000 | 29,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Attorney General Litigation Costs [Member] | Entergy Mississippi [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [1] | 29,500,000 | 23,600,000 | 29,500,000 | 23,600,000 | 29,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Opportunity Sales [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [1] | 116,300,000 | 116,300,000 | 116,300,000 | 116,300,000 | 116,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Opportunity Sales [Member] | Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [1] | 116,300,000 | 116,300,000 | 116,300,000 | 116,300,000 | 116,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nuclear Generation Development Costs [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [1] | 21,600,000 | 29,000,000 | 21,600,000 | 29,000,000 | 21,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nuclear Generation Development Costs [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | 21,200,000 | 21,200,000 | 21,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [1] | 21,200,000 | 28,500,000 | 21,200,000 | 28,500,000 | 21,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [2] | 920,400,000 | 814,300,000 | 920,400,000 | 814,300,000 | 920,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [2] | 262,500,000 | 232,900,000 | 262,500,000 | 232,900,000 | 262,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | Entergy Mississippi [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [2] | 7,800,000 | 7,200,000 | 7,800,000 | 7,200,000 | 7,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [2] | 4,900,000 | 4,500,000 | 4,900,000 | 4,500,000 | 4,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [2] | 433,000,000 | 381,700,000 | 433,000,000 | 381,700,000 | 433,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Costs [Member] | System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets, Noncurrent | [2] | 210,900,000 | 186,900,000 | 210,900,000 | 186,900,000 | 210,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Entergy Mississippi [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MPSC approved customer credits due to internal restructuring | $ 4,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual customer credits | $ 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed Energy Smart Utility Performance Incentive | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percent of Targeted Energy Smart Savings | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 45,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected Revenue Deficiency | $ 61,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Natural Gas [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Evaluation Period Cost Rate For Common Equity | 9.80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 10.78% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Decrease | $ 256,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vidalia Purchased Power Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | [3] | 127,300,000 | 139,700,000 | 127,300,000 | 139,700,000 | 127,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | (30,500,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vidalia Purchased Power Agreement [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | [3] | 127,300,000 | 139,700,000 | 127,300,000 | 139,700,000 | 127,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Louisiana Act 55 Financing Obligation [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | [3] | 97,100,000 | 111,100,000 | 97,100,000 | 111,100,000 | 97,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (25,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Louisiana Act 55 Financing Obligation [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | [3] | 97,100,000 | 111,100,000 | 97,100,000 | 111,100,000 | 97,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue Subject to Refund [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | 51,100,000 | 44,400,000 | 51,100,000 | 44,400,000 | 51,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue Subject to Refund [Member] | Entergy Mississippi [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provision recorded to reflect change in formula rate plan revenues compared to allowed rate of return | 9,300,000 | 9,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
True-up to provision recorded to reflect change in formula rate plan revenues compared to allowed rate of return | 900,000 | 800,000 | $ 800,000 | $ 800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | 4,500,000 | 9,300,000 | 4,500,000 | 9,300,000 | 4,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue Subject to Refund [Member] | Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provision recorded to reflect change in formula rate plan revenues compared to allowed rate of return | 35,100,000 | 35,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
True-up to provision recorded to reflect change in formula rate plan revenues compared to allowed rate of return | $ 11,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability, Noncurrent | 46,600,000 | $ 35,100,000 | $ 46,600,000 | $ 35,100,000 | $ 46,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electricity [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revised Increase In Rate Base Request | $ 135,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 10.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed rate reduction in revised filing | $ 20,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Return on equity including performance adder provision | 10.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 42,000,000 | $ 36,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rider reductions included in decreased rates | 29,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion of base rate increase associated with moving costs from rider into rates | $ 131,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed surcharge to recover advanced metering infrastructure costs | 7,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate reduction due to decrease in projected fuel and energy efficiency riders | $ 31,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electricity [Member] | Subsequent Event [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 42,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rider reductions included in decreased rates | 29,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 10.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed rate reduction in revised filing | $ 142,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 3,000,000 | $ 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas [Member] | Subsequent Event [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Cost Recovery Factor Rider [Member] | Entergy Texas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 19,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue increase resulting from incremental revenue | $ 16,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 2,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distribution Cost Recovery Factor Rider [Member] | Entergy Texas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 3,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Grand Gulf [Member] | System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 11.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | (b) Does not earn a return on investment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | (a) Does not earn a return on investment, but is offset by related liabilities. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. |
Rate And Regulatory Matters (De
Rate And Regulatory Matters (Details Of Other Regulatory Assets Included In Entergy Corporation And Subsidiaries) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | $ 5,292,055 | $ 4,746,496 | |
Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 1,666,850 | 1,534,977 | |
Regulatory Assets | 168,900 | 138,300 | |
Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 1,315,211 | 1,105,077 | |
Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 377,972 | 343,049 | |
Regulatory Assets | 80,800 | 63,500 | |
Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 259,363 | 229,796 | |
Regulatory Assets | 52,900 | 49,300 | |
Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 512,648 | 598,048 | |
Regulatory Assets | 42,500 | 50,900 | |
System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 490,083 | 446,371 | |
Regulatory Assets | 75,900 | 76,400 | |
Asset Retirement Obligation [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 920,400 | 814,300 |
Asset Retirement Obligation [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 433,000 | 381,700 |
Asset Retirement Obligation [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 262,500 | 232,900 |
Asset Retirement Obligation [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 7,800 | 7,200 |
Asset Retirement Obligation [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 4,900 | 4,500 |
Asset Retirement Obligation [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 210,900 | 186,900 |
Algiers customer migration costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 4,900 | 0 | |
Pension And Post Retirement Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 2,942,400 | 2,611,500 |
Pension And Post Retirement Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 796,500 | 747,200 |
Pension And Post Retirement Costs [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 787,700 | 711,800 |
Pension And Post Retirement Costs [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 234,400 | 215,900 |
Pension And Post Retirement Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 85,900 | 96,200 |
Pension And Post Retirement Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 167,700 | 171,800 |
Pension And Post Retirement Costs [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 200,300 | 179,300 |
Provision For Storm Damages, Including Hurricane Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 372,800 | 452,700 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 46,100 | 60,700 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 45,700 | 17,900 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 59,600 | 70,400 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 221,400 | 303,600 | |
Removal Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 421,000 | 375,800 | |
Removal Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 168,900 | 138,300 | |
Removal Costs [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 80,800 | 63,500 | |
Removal Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 52,900 | 49,300 | |
Removal Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 42,500 | 50,900 | |
Removal Costs [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 75,900 | 76,400 | |
Attorney General Litigation Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 29,500 | 23,600 |
Attorney General Litigation Costs [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 29,500 | 23,600 |
River Bend AFUDC [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 9,100 | 11,000 | |
Business Combination External Costs Deferral [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 10,800 | 12,400 |
Nuclear Generation Development Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 21,600 | 29,000 |
Nuclear Generation Development Costs [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 21,200 | 28,500 |
Rate Case Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 7,000 | 0 | |
Little Gypsy Cost Proceeding [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 29,900 | 52,100 | |
Little Gypsy Cost Proceeding [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 27,600 | 49,800 | |
Transition to Competition Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 14,900 | 26,700 | |
Neches and Sabine Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 21,200 | 23,600 | |
Regulatory Clause Revenues, under-recovered [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 15,700 | 39,000 | |
Regulatory Clause Revenues, under-recovered [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 2,300 | 20,500 |
Regulatory Clause Revenues, under-recovered [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 7,600 | 16,600 | |
Unamortized Loss on Reacquired Debt [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 66,600 | 74,500 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 18,300 | 21,200 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 20,400 | 22,500 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 14,900 | 16,200 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 2,300 | 2,600 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 7,700 | 8,200 | |
Unamortized Loss on Reacquired Debt [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 3,000 | 3,800 | |
ANO Fukushima and Flood Barrier costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 10,900 | 12,600 |
Opportunity Sales [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 116,300 | 116,300 |
Opportunity Sales [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 116,300 | 116,300 |
Retired electric meters [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 50,400 | 0 | |
Retired electric meters [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 101,100 | 0 |
Retired electric meters [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 28,400 | 0 | |
Other Regulatory Assets (Liabilities) [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 150,300 | 157,700 | |
Other Regulatory Assets (Liabilities) [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 24,200 | 36,500 | |
Other Regulatory Assets (Liabilities) [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 29,100 | 18,300 | |
Other Regulatory Assets (Liabilities) [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 3,000 | 0 | |
Other Regulatory Assets (Liabilities) [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 7,300 | 6,800 | |
Other Regulatory Assets (Liabilities) [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 8,800 | 13,200 | |
Retired electric and gas meters [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 205,600 | 0 | |
Retired electric and gas meters [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 24,600 | 0 |
Retired plant costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | $ 10,000 | $ 0 | |
[1] | (a) Does not earn a return on investment, but is offset by related liabilities. | ||
[2] | (b) Does not earn a return on investment. |
Rate And Regulatory Matters Rat
Rate And Regulatory Matters Rate and Regulatory Matters (Details of Other Regulatory Liabilities Included in Entergy Corporation and Subsidiaries) (Details) - USD ($) $ in Thousands | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Regulatory Liabilities [Line Items] | ||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 35.00% | |||
Regulatory Liability, Noncurrent | $ 1,961,005 | $ 1,620,254 | ||||
Increase (Decrease) in Regulatory Liabilities | 14,781 | 803,323 | $ (2,915,795) | |||
Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | [1] | 1,300,100 | 815,900 | |||
Asset Retirement Obligation Costs [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | [1] | 37,200 | 39,100 | |||
Excess Decommissioning Recovery [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 21,200 | 31,900 | ||||
Vidalia Purchased Power Agreement [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | [2] | 127,300 | 139,700 | |||
Increase (Decrease) in Regulatory Liabilities | $ 30,500 | |||||
Entergy Arkansas’s Accumulated Accelerated Grand Gulf Amortization [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 44,400 | 44,400 | ||||
Revenue Subject to Refund [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 51,100 | 44,400 | ||||
Internal Restructuring Guaranteed Credits to Customers [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 33,000 | 39,600 | ||||
Other Regulatory Assets (Liabilities) [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 36,600 | 28,200 | ||||
Removal Costs [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 2,400 | 18,800 | ||||
Entergy Mississippi’s accumulated accelerated Grand Gulf amortization [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 17,800 | 25,000 | ||||
Grand Gulf Sale Leaseback [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 55,600 | 55,600 | ||||
Business Combination Guaranteed Customer Benefits [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 35,700 | 50,800 | ||||
Grand Gulf Over-Recovery [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 62,300 | 84,600 | ||||
Louisiana Act 55 Financing Obligation [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | [2] | 97,100 | 111,100 | |||
Increase (Decrease) in Regulatory Liabilities | $ 25,000 | |||||
Income Tax Rate Change [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 13,900 | 74,700 | ||||
Advanced Metering System Surcharge [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 25,300 | 16,500 | ||||
Entergy Louisiana [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 794,140 | 748,784 | ||||
Increase (Decrease) in Regulatory Liabilities | 35,881 | 125,185 | (605,453) | |||
Entergy Louisiana [Member] | Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | [1] | 436,500 | 274,100 | |||
Entergy Louisiana [Member] | Asset Retirement Obligation Costs [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | [1] | 37,100 | 39,100 | |||
Entergy Louisiana [Member] | Excess Decommissioning Recovery [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 21,200 | 31,900 | ||||
Entergy Louisiana [Member] | Vidalia Purchased Power Agreement [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | [2] | 127,300 | 139,700 | |||
Entergy Louisiana [Member] | Other Regulatory Assets (Liabilities) [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 36,800 | 33,400 | ||||
Entergy Louisiana [Member] | Removal Costs [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 2,400 | 18,800 | ||||
Entergy Louisiana [Member] | Business Combination Guaranteed Customer Benefits [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 35,700 | 50,800 | ||||
Entergy Louisiana [Member] | Louisiana Act 55 Financing Obligation [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | [2] | 97,100 | 111,100 | |||
Entergy Louisiana [Member] | Income Tax Rate Change [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 0 | 49,900 | ||||
Entergy Arkansas [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 559,555 | 402,668 | ||||
Increase (Decrease) in Regulatory Liabilities | (39,293) | 341,682 | (1,043,507) | |||
Entergy Arkansas [Member] | Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | [1] | 460,300 | 297,200 | |||
Entergy Arkansas [Member] | Revenue Subject to Refund [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 46,600 | 35,100 | ||||
Entergy Arkansas [Member] | Internal Restructuring Guaranteed Credits to Customers [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 33,000 | 39,600 | ||||
Entergy Arkansas [Member] | Grand Gulf Over-Recovery [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 19,700 | 30,800 | ||||
Entergy Mississippi [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 21,512 | 33,622 | ||||
Increase (Decrease) in Regulatory Liabilities | 21,524 | 131,856 | (405,395) | |||
Entergy Mississippi [Member] | Grand Gulf Over-Recovery [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 2,400 | 22,600 | ||||
Entergy Mississippi [Member] | Revenue Subject to Refund [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 4,500 | 9,300 | ||||
Entergy Mississippi [Member] | Other Regulatory Assets (Liabilities) [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 0 | 400 | ||||
Entergy Mississippi [Member] | Grand Gulf Over-Recovery [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 14,600 | 1,300 | ||||
Entergy New Orleans [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Increase (Decrease) in Regulatory Liabilities | 22,105 | 28,459 | (110,147) | |||
Entergy Texas [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 42,085 | 47,884 | ||||
Increase (Decrease) in Regulatory Liabilities | 105,517 | 19,336 | (410,968) | |||
Entergy Texas [Member] | Transition to Competition Costs [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 3,800 | 4,200 | ||||
Entergy Texas [Member] | Other Regulatory Assets (Liabilities) [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 2,600 | 4,100 | ||||
Entergy Texas [Member] | Income Tax Rate Change [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 10,400 | 23,100 | ||||
Entergy Texas [Member] | Advanced Metering System Surcharge [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 25,300 | 16,500 | ||||
System Energy [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 533,415 | 381,887 | ||||
Increase (Decrease) in Regulatory Liabilities | (130,949) | 156,802 | $ (331,251) | |||
System Energy [Member] | Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | [1] | 403,300 | 244,600 | |||
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] | Other Regulatory Assets (Liabilities) [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 12,300 | 12,300 | ||||
System Energy [Member] | Entergy Mississippi’s accumulated accelerated Grand Gulf amortization [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | 17,800 | 25,000 | ||||
System Energy [Member] | Grand Gulf Sale Leaseback [Member] | ||||||
Regulatory Liabilities [Line Items] | ||||||
Regulatory Liability, Noncurrent | $ 55,600 | $ 55,600 | ||||
[1] | (a) Offset by related asset. | |||||
[2] | (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. |
Rate And Regulatory Matters (Fu
Rate And Regulatory Matters (Fuel And Purchased Power Cost Recovery) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred Fuel Cost Non Current | $ 239,892 | $ 239,496 |
Entergy Arkansas [Member] | ||
Deferred Fuel Cost - Net Asset | 14,000 | 86,500 |
Deferred Fuel Cost Non Current | 67,690 | 67,294 |
Entergy Louisiana [Member] | ||
Deferred Fuel Cost - Net Asset | 112,500 | 136,700 |
Deferred Fuel Cost Non Current | 168,122 | 168,122 |
Entergy Mississippi [Member] | ||
Deferred Fuel Cost - Net Asset | 8,000 | |
Deferred Fuel Cost - Net Liability | (70,400) | |
Entergy New Orleans [Member] | ||
Deferred Fuel Cost - Net Asset | 2,800 | |
Deferred Fuel Cost - Net Liability | (800) | |
Deferred Fuel Cost Non Current | 4,080 | 4,080 |
Entergy Texas [Member] | ||
Deferred Fuel Cost - Net Liability | $ (13,000) | $ (19,700) |
Rate And Regulatory Matters (Pa
Rate And Regulatory Matters (Payments/Receipts Among The Utility Operating Companies) (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Jul. 31, 2018 | May 31, 2018 | May 31, 2014 | Dec. 31, 2011 | Dec. 31, 2007 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | |
Entergy Arkansas [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | $ 278 | $ 0 | $ 0 | $ 41 | $ 77 | $ 47 | $ 390 | $ 252 | ||||
Entergy Arkansas [Member] | FERC October 2011 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | $ 156 | |||||||||||
Entergy Arkansas [Member] | FERC February 2014 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | $ 68 | |||||||||||
Entergy Arkansas [Member] | FERC May 2018 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | $ (4) | |||||||||||
Entergy Arkansas [Member] | FERC May 2018 Bandwidth True-up Orders [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | $ 3 | |||||||||||
Entergy Louisiana [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | 0 | 0 | ||||||||||
Receipts from utility operating companies pursuant to FERC order | (203) | (41) | (12) | (25) | (247) | (160) | ||||||
Entergy Louisiana [Member] | FERC October 2011 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | (75) | |||||||||||
Entergy Louisiana [Member] | FERC February 2014 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | (10) | |||||||||||
Entergy Louisiana [Member] | FERC May 2018 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | (23) | |||||||||||
Entergy Louisiana [Member] | FERC May 2018 Bandwidth True-up Orders [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | 3 | |||||||||||
Entergy Mississippi [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | 0 | 0 | 0 | |||||||||
Receipts from utility operating companies pursuant to FERC order | (34) | (40) | (21) | (24) | (20) | |||||||
Entergy Mississippi [Member] | FERC October 2011 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | (33) | |||||||||||
Entergy Mississippi [Member] | FERC February 2014 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | (11) | |||||||||||
Entergy Mississippi [Member] | FERC May 2018 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | 16 | |||||||||||
Entergy Mississippi [Member] | FERC May 2018 Bandwidth True-up Orders [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | (1) | |||||||||||
Entergy New Orleans [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | 0 | 0 | 0 | |||||||||
Receipts from utility operating companies pursuant to FERC order | (15) | (15) | (25) | (1) | (7) | |||||||
Entergy New Orleans [Member] | FERC October 2011 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | (5) | |||||||||||
Entergy New Orleans [Member] | FERC February 2014 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | 2 | |||||||||||
Entergy New Orleans [Member] | FERC May 2018 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | 5 | |||||||||||
Entergy New Orleans [Member] | FERC May 2018 Bandwidth True-up Orders [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | 1 | |||||||||||
Entergy Texas [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | $ 15 | $ 15 | $ 0 | $ 0 | $ 0 | |||||||
Receipts from utility operating companies pursuant to FERC order | $ (41) | $ (119) | $ (65) | |||||||||
Entergy Texas [Member] | FERC October 2011 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | $ (43) | |||||||||||
Entergy Texas [Member] | FERC February 2014 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | $ (49) | |||||||||||
Entergy Texas [Member] | FERC May 2018 Order [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Payments to utility operating companies pursuant to FERC order | $ 6 | |||||||||||
Entergy Texas [Member] | FERC May 2018 Bandwidth True-up Orders [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Receipts from utility operating companies pursuant to FERC order | $ (5) |
Rate And Regulatory Matters R_2
Rate And Regulatory Matters Rate and Regulatory Matters (Opportunity Sales Proceeding) (Details) $ in Millions | 1 Months Ended |
Dec. 31, 2018USD ($) | |
Entergy Arkansas [Member] | |
Principle payments to utility operating companies pursuant to Opportunity Sales Proceeding | $ 68 |
Interest payments to utility operating companies pursuant to Opportunity Sales Proceeding | 67 |
Payments to utility operating companies pursuant to Opportunity Sales Proceeding | 135 |
Entergy Louisiana [Member] | |
Principle payments received from utility operating companies pursuant to Opportunity Sales Proceeding | (30) |
Interest payments received from utility operating companies pursuant to Opportunity Sales Proceeding | (29) |
Receipts from utility operating companies pursuant to Opportunity Sales Proceeding | (59) |
Entergy Mississippi [Member] | |
Principle payments received from utility operating companies pursuant to Opportunity Sales Proceeding | (18) |
Interest payments received from utility operating companies pursuant to Opportunity Sales Proceeding | (18) |
Receipts from utility operating companies pursuant to Opportunity Sales Proceeding | (36) |
Entergy New Orleans [Member] | |
Principle payments received from utility operating companies pursuant to Opportunity Sales Proceeding | (3) |
Interest payments received from utility operating companies pursuant to Opportunity Sales Proceeding | (4) |
Receipts from utility operating companies pursuant to Opportunity Sales Proceeding | (7) |
Entergy Texas [Member] | |
Principle payments received from utility operating companies pursuant to Opportunity Sales Proceeding | (17) |
Interest payments received from utility operating companies pursuant to Opportunity Sales Proceeding | (16) |
Receipts from utility operating companies pursuant to Opportunity Sales Proceeding | $ (33) |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | Jan. 01, 2018 | Jun. 30, 2018 | Aug. 31, 2008 | Jul. 31, 2008 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2019 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Income Taxes [Line Items] | |||||||||||||||||||
Valuation allowance on the deferred tax assets related to state net operating loss carryovers | $ 303,000,000 | $ 244,000,000 | $ 303,000,000 | $ 244,000,000 | |||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 2,421,000,000 | 2,161,000,000 | 2,421,000,000 | 2,161,000,000 | $ 1,462,000,000 | ||||||||||||||
Remaining balances of unrecognized tax benefits, effective income tax rates | 4,962,000,000 | 5,020,000,000 | 4,962,000,000 | 5,020,000,000 | 3,410,000,000 | ||||||||||||||
Accrued income tax interest and penalties | 48,000,000 | 44,000,000 | 48,000,000 | 44,000,000 | 38,000,000 | ||||||||||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 4,000,000 | 7,000,000 | 8,000,000 | ||||||||||||||||
Deferred Income Taxes and Tax Credits | 193,950,000 | (256,848,000) | $ 529,053,000 | ||||||||||||||||
Deferred Tax Assets, Valuation Allowance | 303,307,000 | 243,726,000 | 303,307,000 | 243,726,000 | |||||||||||||||
Regulatory Liability, Noncurrent | 1,961,005,000 | 1,620,254,000 | 1,961,005,000 | $ 1,620,254,000 | |||||||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 35.00% | ||||||||||||||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 24,000,000 | ||||||||||||||||||
Regulatory Liability For Income Taxes - Current and Non Current | 1,700,000,000 | 2,100,000,000 | 1,700,000,000 | $ 2,100,000,000 | |||||||||||||||
Deferred tax asset operating loss carryforward EUHC re-consolidation | $ 41,000,000 | ||||||||||||||||||
Net operating loss carryforwards | 1,133,197,000 | 628,165,000 | 1,133,197,000 | 628,165,000 | |||||||||||||||
Deferred Tax Assets, Net of Valuation Allowance | 3,769,302,000 | 3,247,555,000 | 3,769,302,000 | 3,247,555,000 | |||||||||||||||
Increase (Reduction) in income tax resulting from Entergy Wholesale Commodities restructuring | 173,725,000 | 0 | $ 373,277,000 | ||||||||||||||||
Effective Income Tax Rate Reconciliation, Fitzpatrick Disposition, Amount | 0 | 0 | 44,344,000 | ||||||||||||||||
Utility Restructuring Nuclear Decommissioning Liability Effect | 165,000,000 | ||||||||||||||||||
Utility Restructuring State Income Tax Effect | 5,000,000 | ||||||||||||||||||
Annual Limit on Deduction for Compensation of Certain Covered Employees | $ 1,000,000 | ||||||||||||||||||
Regulatory Liability For Income Taxes Net | 1,633,159,000 | 1,817,021,000 | 1,633,159,000 | 1,817,021,000 | |||||||||||||||
Limit on Annual Net Operating Loss as a Percent of Annual Taxable Income | 80.00% | ||||||||||||||||||
Net Decrease in Deferred Tax Assets Related to Excess ADIT | 560,000,000 | ||||||||||||||||||
Utility Restructuring | 170,000,000 | 0 | 169,918,000 | 0 | |||||||||||||||
Discontinued Operation, Tax Effect of Discontinued Operation | $ 29,000,000 | ||||||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 203,300,000 | 85,400,000 | 203,300,000 | 85,400,000 | 2,600,000 | ||||||||||||||
Accrued income tax interest and penalties | 3,100,000 | 1,700,000 | 3,100,000 | 1,700,000 | 1,600,000 | ||||||||||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 1,400,000 | 200,000 | 200,000 | ||||||||||||||||
Deferred Income Taxes and Tax Credits | 94,368,000 | 129,524,000 | 67,711,000 | ||||||||||||||||
Regulatory Liability, Noncurrent | 559,555,000 | 402,668,000 | 559,555,000 | 402,668,000 | |||||||||||||||
Regulatory Liability For Income Taxes - Current and Non Current | $ 25,000,000 | ||||||||||||||||||
Net operating loss carryforwards | 112,658,000 | 6,338,000 | 112,658,000 | 6,338,000 | |||||||||||||||
Deferred Tax Assets, Net of Valuation Allowance | 471,869,000 | 353,122,000 | 471,869,000 | 353,122,000 | |||||||||||||||
Noncash Capital Contribution from Parent | 94,000,000 | 94,335,000 | |||||||||||||||||
Change in accounting method for tax purposes, effect of change on taxable income | 2,200,000,000 | ||||||||||||||||||
Accrued deductible temporary difference related to election to mark-to-market certain power purchase and sales agreements | 2,100,000,000 | 2,100,000,000 | |||||||||||||||||
Regulatory Liability For Income Taxes Net | 478,174,000 | 505,748,000 | 478,174,000 | 505,748,000 | |||||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | 3,000,000 | ||||||||||||||||||
State Effective Income Tax Rate, Percent | 6.50% | ||||||||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 556,300,000 | 594,000,000 | 556,300,000 | 594,000,000 | 575,800,000 | ||||||||||||||
Accrued income tax interest and penalties | 14,200,000 | 17,900,000 | 14,200,000 | 17,900,000 | 14,100,000 | ||||||||||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | (3,700,000) | 3,800,000 | 5,700,000 | ||||||||||||||||
Regulatory Liabilities | 2,400,000 | 18,800,000 | 2,400,000 | 18,800,000 | |||||||||||||||
Deferred Income Taxes and Tax Credits | 196,533,000 | 174,063,000 | 575,804,000 | ||||||||||||||||
Regulatory Liability, Noncurrent | 794,140,000 | 748,784,000 | 794,140,000 | 748,784,000 | |||||||||||||||
Tax benefits related to Hurricane Katrina and Hurricane Rita contingent sharing obligation | $ 52,000,000 | ||||||||||||||||||
Net operating loss carryforwards | 65,178,000 | 20,118,000 | 65,178,000 | 20,118,000 | |||||||||||||||
Deferred Tax Assets, Net of Valuation Allowance | 618,692,000 | 649,530,000 | 618,692,000 | 649,530,000 | |||||||||||||||
Change in accounting method for tax purposes, effect of change on taxable income | $ 2,200,000,000 | ||||||||||||||||||
Deductible temporary difference related to election to mark-to-market certain power purchase and sales agreements | $ 2,200,000,000 | ||||||||||||||||||
Regulatory Liability For Income Taxes Net | 500,083,000 | 581,001,000 | 500,083,000 | 581,001,000 | |||||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | (217,000,000) | ||||||||||||||||||
Entergy Mississippi [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 1,900,000 | 1,500,000 | 1,900,000 | 1,500,000 | 0 | ||||||||||||||
Accrued income tax interest and penalties | 1,700,000 | 1,200,000 | 1,700,000 | 1,200,000 | 1,000,000 | ||||||||||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 500,000 | 200,000 | 200,000 | ||||||||||||||||
Deferred Income Taxes and Tax Credits | 32,547,000 | 56,502,000 | 84,816,000 | ||||||||||||||||
Regulatory Liability, Noncurrent | 21,512,000 | 33,622,000 | 21,512,000 | 33,622,000 | |||||||||||||||
Net operating loss carryforwards | 21,492,000 | 4,896,000 | 21,492,000 | 4,896,000 | |||||||||||||||
Deferred Tax Assets, Net of Valuation Allowance | 92,959,000 | 97,556,000 | 92,959,000 | 97,556,000 | |||||||||||||||
Accrued deductible temporary difference related to election to mark-to-market certain power purchase and sales agreements | 1,900,000,000 | 1,900,000,000 | |||||||||||||||||
Regulatory Liability For Income Taxes Net | 236,988,000 | 246,402,000 | 236,988,000 | 246,402,000 | |||||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | (3,000,000) | ||||||||||||||||||
Entergy New Orleans [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 242,700,000 | 246,200,000 | 242,700,000 | 246,200,000 | 31,700,000 | ||||||||||||||
Accrued income tax interest and penalties | 4,700,000 | 2,700,000 | 4,700,000 | 2,700,000 | 2,100,000 | ||||||||||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 2,000,000 | 600,000 | 600,000 | ||||||||||||||||
Deferred Income Taxes and Tax Credits | 21,350,000 | 24,548,000 | 64,036,000 | ||||||||||||||||
Net operating loss carryforwards | 5,056,000 | 480,000 | 5,056,000 | 480,000 | |||||||||||||||
Deferred Tax Assets, Net of Valuation Allowance | 69,138,000 | 79,315,000 | 69,138,000 | 79,315,000 | |||||||||||||||
Deductible temporary difference related to election to mark-to-market certain power purchase and sales agreements | 1,100,000,000 | ||||||||||||||||||
Regulatory Liability For Income Taxes Net | 49,090,000 | 60,249,000 | 49,090,000 | 60,249,000 | |||||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | (6,000,000) | ||||||||||||||||||
Entergy Texas [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 5,700,000 | 5,100,000 | 5,700,000 | 5,100,000 | 4,400,000 | ||||||||||||||
Accrued income tax interest and penalties | 1,100,000 | 900,000 | 1,100,000 | 900,000 | 400,000 | ||||||||||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 200,000 | 500,000 | (800,000) | ||||||||||||||||
Deferred Income Taxes and Tax Credits | 20,143,000 | (39,545,000) | 42,119,000 | ||||||||||||||||
Regulatory Liability, Noncurrent | 42,085,000 | 47,884,000 | 42,085,000 | 47,884,000 | |||||||||||||||
Net operating loss carryforwards | 0 | 261,000 | 0 | 261,000 | |||||||||||||||
Deferred Tax Assets, Net of Valuation Allowance | 65,293,000 | 90,124,000 | 65,293,000 | 90,124,000 | |||||||||||||||
Regulatory Liability For Income Taxes Net | 225,980,000 | 264,623,000 | 225,980,000 | 264,623,000 | |||||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | (3,000,000) | ||||||||||||||||||
System Energy [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Accrued income tax interest and penalties | 14,500,000 | 13,200,000 | 14,500,000 | 13,200,000 | 8,500,000 | ||||||||||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 1,300,000 | 4,700,000 | 4,800,000 | ||||||||||||||||
Regulatory Liabilities | 55,600,000 | 55,600,000 | |||||||||||||||||
Deferred Income Taxes and Tax Credits | 95,000 | 24,040,000 | 7,827,000 | ||||||||||||||||
Regulatory Liability, Noncurrent | 533,415,000 | 381,887,000 | 533,415,000 | 381,887,000 | |||||||||||||||
Net operating loss carryforwards | 0 | 0 | 0 | 0 | |||||||||||||||
Deferred Tax Assets, Net of Valuation Allowance | 293,186,000 | 268,255,000 | 293,186,000 | 268,255,000 | |||||||||||||||
Change in accounting method for tax purposes, effect of change on taxable income | $ 1,200,000,000 | ||||||||||||||||||
Regulatory Liability For Income Taxes Net | 142,845,000 | 158,998,000 | 142,845,000 | 158,998,000 | |||||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | $ 0 | ||||||||||||||||||
Entergy Wholesale Commodities [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Increase (Reduction) in income tax resulting from Entergy Wholesale Commodities restructuring | 156,000,000 | $ 373,000,000 | $ 238,000,000 | 19,000,000 | |||||||||||||||
Reduction of Income Tax Expense, Net of Unrecognized Tax Benefits, Resulting From Tax Election | $ 107,000,000 | ||||||||||||||||||
Reduction to income tax expense | 174,000,000 | ||||||||||||||||||
Tax Adjustments, Settlements, and Unusual Provisions | $ 23,000,000 | ||||||||||||||||||
Change in accounting method for tax purposes, effect of change on taxable income | 18,000,000 | ||||||||||||||||||
Effective Income Tax Rate Reconciliation, Fitzpatrick Disposition, Amount | $ 44,000,000 | ||||||||||||||||||
Hurricane Rita [Member] | Entergy Gulf States Louisiana [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Proceeds from LURC | $ 274,700,000 | ||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | $ 274,700,000 | ||||||||||||||||||
Hurricane Rita [Member] | Entergy Louisiana [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Proceeds from LURC | $ 679,000,000 | ||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | $ 679,000,000 | ||||||||||||||||||
Subsequent Event [Member] | Entergy Arkansas [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
State Effective Income Tax Rate, Percent | 5.90% | 6.20% | |||||||||||||||||
Reduction to Effective Income Tax Rate At Combined Federal and State Income Tax Rate | 0.50% | ||||||||||||||||||
Internal Restructuring Guaranteed Credits to Customers [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Regulatory Liability, Noncurrent | 33,000,000 | 39,600,000 | 33,000,000 | 39,600,000 | |||||||||||||||
Regulatory Liability Net Of Tax | 30,000,000 | 30,000,000 | |||||||||||||||||
Internal Restructuring Guaranteed Credits to Customers [Member] | Entergy Arkansas [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Regulatory Liability, Noncurrent | $ 33,000,000 | $ 39,600,000 | $ 33,000,000 | $ 39,600,000 | |||||||||||||||
Preferred Stock, Five Point Three Seven Five Percent, Series A [Member] | Entergy Texas [Member] | |||||||||||||||||||
Income Taxes [Line Items] | |||||||||||||||||||
Preferred Stock, Value, Issued | $ 35,000,000 | ||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 5.375% | ||||||||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 25 | $ 25 | $ 25 |
Income Taxes (Schedule Of Incom
Income Taxes (Schedule Of Income Tax Expenses From Continuing Operations) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Federal | $ (14,416) | $ 36,848 | $ 29,595 |
State | 6,535 | 7,274 | 15,478 |
Total | (7,881) | 44,122 | 45,073 |
Deferred and non-current -- net | (155,956) | (1,074,416) | 505,010 |
Investment tax credit adjustments - net | (5,988) | (6,532) | (7,513) |
Income Tax Expense (Benefit) | (169,825) | (1,036,826) | 542,570 |
Entergy Arkansas [Member] | |||
Federal | (14,549) | (23,638) | 16,086 |
State | (714) | (1,617) | 9,191 |
Total | (15,263) | (25,255) | 25,277 |
Deferred and non-current -- net | (30,278) | (270,586) | 69,753 |
Investment tax credit adjustments - net | (1,228) | (1,226) | (1,226) |
Income Tax Expense (Benefit) | (46,769) | (297,067) | 93,804 |
Entergy Louisiana [Member] | |||
Federal | (20,173) | (15,841) | (84,250) |
State | (735) | (1,122) | 1,480 |
Total | (20,908) | (16,963) | (82,770) |
Deferred and non-current -- net | 147,453 | (32,725) | 572,988 |
Investment tax credit adjustments - net | (4,922) | (4,923) | (4,920) |
Income Tax Expense (Benefit) | 121,623 | (54,611) | 485,298 |
Entergy Mississippi [Member] | |||
Federal | (8,939) | (11,275) | (8,845) |
State | 5,823 | (1,066) | (924) |
Total | (3,116) | (12,341) | (9,769) |
Deferred and non-current -- net | 34,579 | (114,738) | 83,501 |
Investment tax credit adjustments - net | (597) | ||
Deferred Other Tax Expense (Benefit) | 1,306 | 187 | |
Income Tax Expense (Benefit) | 30,866 | (125,773) | 73,919 |
Entergy New Orleans [Member] | |||
Federal | (5,822) | (10,813) | (30,635) |
State | 1,856 | 545 | (728) |
Total | (3,966) | (10,268) | (31,363) |
Deferred and non-current -- net | 4,248 | 7,943 | 62,946 |
Investment tax credit adjustments - net | (96) | (111) | |
Deferred Other Tax Expense (Benefit) | 1,695 | ||
Income Tax Expense (Benefit) | 186 | (2,436) | 33,278 |
Entergy Texas [Member] | |||
Federal | 16,035 | 16,190 | 6,034 |
State | 663 | 3,205 | 310 |
Total | 16,698 | 19,395 | 6,344 |
Deferred and non-current -- net | (69,963) | (44,817) | 43,102 |
Investment tax credit adjustments - net | (631) | (821) | (965) |
Income Tax Expense (Benefit) | (53,896) | (26,243) | 48,481 |
System Energy [Member] | |||
Federal | 16,256 | (9,786) | 47,674 |
State | (2,831) | (1,821) | 5,314 |
Total | 13,425 | (11,607) | 52,988 |
Deferred and non-current -- net | 422 | (35,329) | 19,243 |
Investment tax credit adjustments - net | (739) | (2,262) | |
Deferred Other Tax Expense (Benefit) | 1,502 | ||
Income Tax Expense (Benefit) | $ 15,349 | $ (47,675) | $ 69,969 |
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, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 0 | $ 0 | $ 560,410 | ||||||||
Amortization of Excess ADIT | (205,614) | (577,082) | 0 | ||||||||
Revisions of the 2017 Tax Legislation Enactment | 0 | (40,494) | 0 | ||||||||
Utility Restructuring | $ (170,000) | 0 | (169,918) | 0 | |||||||
Settlement on Treatment of Regulatory Obligations | 0 | (52,320) | 0 | ||||||||
State Income Tax Audit Conclusion | 0 | (23,425) | 0 | ||||||||
IRS Audit Adjustment | 0 | (8,404) | 0 | ||||||||
Increase (Decrease) due to Entergy Wholesale Commodities Decommissioning Trust Fund Restructuring | 0 | (106,833) | 0 | ||||||||
Net Income (Loss) Attributable to Parent | 1,241,226 | 848,661 | 411,612 | ||||||||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 17,018 | 13,894 | 13,741 | ||||||||
Consolidated net income | $ 389,606 | $ 369,459 | $ 240,533 | $ 258,646 | (62,323) | $ 539,818 | $ 248,860 | $ 136,200 | 1,258,244 | 862,555 | 425,353 |
Income Tax Expense (Benefit) | (169,825) | (1,036,826) | 542,570 | ||||||||
Income before income taxes | 1,088,419 | (174,271) | 967,923 | ||||||||
Computed at statutory rate (35%) | 228,568 | (36,597) | 338,773 | ||||||||
State income taxes net of federal income tax effect | 61,791 | 21,398 | 44,179 | ||||||||
Regulatory differences - utility plant items | (45,336) | (37,507) | 39,825 | ||||||||
Equity component of AFUDC | (30,444) | (27,216) | (33,282) | ||||||||
Amortization of investment tax credits | (8,093) | (8,304) | (10,204) | ||||||||
Flow-through / permanent differences | (2,059) | 439 | 8,727 | ||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 7,332 | 24,569 | 8,756 | ||||||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | 59,345 | 2,211 | 0 | ||||||||
Other - net | $ (1,062) | $ 2,657 | $ 3,007 | ||||||||
Effective Income Tax Rate | (15.60%) | 595.00% | 56.10% | ||||||||
Increase (Reduction) in income tax resulting from Entergy Wholesale Commodities restructuring | $ (173,725) | $ 0 | $ (373,277) | ||||||||
Effective Income Tax Rate Reconciliation, Fitzpatrick Disposition, Amount | 0 | 0 | 44,344 | ||||||||
Charitable Contribution | (19,101) | ||||||||||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Charitable Contributions, Amount | 0 | 0 | |||||||||
Net operating loss recognition | (41,427) | 0 | 0 | ||||||||
Entergy Arkansas [Member] | |||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 1,290 | ||||||||||
Amortization of Excess ADIT | (90,921) | (271,570) | |||||||||
Revisions of the 2017 Tax Legislation Enactment | (933) | ||||||||||
Settlement on Treatment of Regulatory Obligations | 0 | ||||||||||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 0 | 1,249 | 1,428 | ||||||||
Consolidated net income | 23,828 | 149,716 | 50,299 | 39,121 | 5,006 | 128,890 | 82,556 | 36,255 | 262,964 | 252,707 | 139,844 |
Income Tax Expense (Benefit) | (46,769) | (297,067) | 93,804 | ||||||||
Income before income taxes | 216,195 | (44,360) | 233,648 | ||||||||
Computed at statutory rate (35%) | 45,401 | (9,316) | 81,777 | ||||||||
State income taxes net of federal income tax effect | 15,954 | (794) | 11,586 | ||||||||
Regulatory differences - utility plant items | (10,627) | (14,916) | 7,220 | ||||||||
Equity component of AFUDC | (3,255) | (3,477) | (6,458) | ||||||||
Amortization of investment tax credits | (1,201) | (1,201) | (1,201) | ||||||||
Flow-through / permanent differences | 696 | 570 | 3,098 | ||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | (3,517) | 724 | 200 | ||||||||
Other - net | $ 701 | $ 690 | $ 672 | ||||||||
Effective Income Tax Rate | (21.60%) | 669.70% | 40.10% | ||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ (3,090) | ||||||||||
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount | $ 0 | $ 0 | 0 | ||||||||
Entergy Louisiana [Member] | |||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 1,097 | ||||||||||
Amortization of Excess ADIT | (28,531) | (104,313) | |||||||||
Revisions of the 2017 Tax Legislation Enactment | 2,810 | ||||||||||
Settlement on Treatment of Regulatory Obligations | 52,320 | ||||||||||
Consolidated net income | 125,560 | 255,260 | 183,084 | 127,633 | 161,355 | 218,308 | 184,358 | 111,593 | 691,537 | 675,614 | 316,347 |
Income Tax Expense (Benefit) | 121,623 | (54,611) | 485,298 | ||||||||
Income before income taxes | 813,160 | 621,003 | 801,645 | ||||||||
Computed at statutory rate (35%) | 170,764 | 130,411 | 280,576 | ||||||||
State income taxes net of federal income tax effect | 42,854 | 26,031 | 31,927 | ||||||||
Regulatory differences - utility plant items | (19,421) | (12,604) | 12,168 | ||||||||
Equity component of AFUDC | (15,545) | (16,784) | (18,020) | ||||||||
Amortization of investment tax credits | (4,871) | (4,871) | (4,871) | ||||||||
Flow-through / permanent differences | 439 | 3,203 | 3,774 | ||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 1,519 | 3,949 | 5,700 | ||||||||
Other - net | $ 1,210 | $ 1,195 | $ 1,444 | ||||||||
Effective Income Tax Rate | 15.00% | (8.80%) | 60.50% | ||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 217,258 | ||||||||||
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount | $ (26,795) | $ (26,795) | (44,658) | ||||||||
Entergy Mississippi [Member] | |||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 1,018 | ||||||||||
Amortization of Excess ADIT | 203 | (120,831) | |||||||||
Revisions of the 2017 Tax Legislation Enactment | 556 | ||||||||||
Settlement on Treatment of Regulatory Obligations | 0 | ||||||||||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 0 | 834 | 953 | ||||||||
Consolidated net income | 21,623 | 56,237 | 26,667 | 15,398 | 14,260 | 50,733 | 38,242 | 22,843 | 119,925 | 126,078 | 110,032 |
Income Tax Expense (Benefit) | 30,866 | (125,773) | 73,919 | ||||||||
Income before income taxes | 150,791 | 305 | 183,951 | ||||||||
Computed at statutory rate (35%) | 31,666 | 64 | 64,383 | ||||||||
State income taxes net of federal income tax effect | 5,563 | (1,747) | 6,202 | ||||||||
Regulatory differences - utility plant items | (5,556) | (4,103) | 1,356 | ||||||||
Equity component of AFUDC | (1,755) | (1,829) | (3,383) | ||||||||
Amortization of investment tax credits | (160) | (160) | (160) | ||||||||
Flow-through / permanent differences | 160 | 1,893 | 1,567 | ||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 500 | 240 | 228 | ||||||||
Other - net | $ 245 | $ 238 | $ 234 | ||||||||
Effective Income Tax Rate | 20.50% | (41237.00%) | 40.20% | ||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 3,492 | ||||||||||
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount | $ 0 | $ 0 | 0 | ||||||||
Entergy New Orleans [Member] | |||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | (96) | ||||||||||
Amortization of Excess ADIT | (11,724) | (9,878) | |||||||||
Revisions of the 2017 Tax Legislation Enactment | (884) | ||||||||||
Settlement on Treatment of Regulatory Obligations | 0 | ||||||||||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 0 | 0 | 841 | ||||||||
Consolidated net income | 5,695 | 24,908 | 13,003 | 9,023 | 2,594 | 21,407 | 18,269 | 10,882 | 52,629 | 53,152 | 44,553 |
Income Tax Expense (Benefit) | 186 | (2,436) | 33,278 | ||||||||
Income before income taxes | 52,815 | 50,716 | 77,831 | ||||||||
Computed at statutory rate (35%) | 11,091 | 10,650 | 27,241 | ||||||||
State income taxes net of federal income tax effect | 3,443 | 2,322 | 2,842 | ||||||||
Regulatory differences - utility plant items | (1,532) | (1,502) | 619 | ||||||||
Equity component of AFUDC | (2,088) | (1,248) | (847) | ||||||||
Amortization of investment tax credits | (88) | (109) | (124) | ||||||||
Flow-through / permanent differences | (741) | (4,222) | (3,352) | ||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 1,672 | 613 | 600 | ||||||||
Other - net | $ 153 | $ 150 | $ 146 | ||||||||
Effective Income Tax Rate | 0.40% | (4.80%) | 42.80% | ||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 6,153 | ||||||||||
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount | $ 0 | $ 0 | 0 | ||||||||
Entergy Texas [Member] | |||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 524 | ||||||||||
Amortization of Excess ADIT | (69,091) | (11,519) | |||||||||
Revisions of the 2017 Tax Legislation Enactment | 43,799 | ||||||||||
Settlement on Treatment of Regulatory Obligations | 0 | ||||||||||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 580 | 0 | 0 | ||||||||
Consolidated net income | 25,895 | 73,224 | 38,936 | 21,342 | 48,250 | 65,846 | 30,789 | 17,350 | 159,397 | 162,235 | 76,173 |
Income Tax Expense (Benefit) | (53,896) | (26,243) | 48,481 | ||||||||
Income before income taxes | 105,501 | 135,992 | 124,654 | ||||||||
Computed at statutory rate (35%) | 22,155 | 28,558 | 43,629 | ||||||||
State income taxes net of federal income tax effect | 360 | 2,576 | 527 | ||||||||
Regulatory differences - utility plant items | (1,987) | (1,872) | 5,581 | ||||||||
Equity component of AFUDC | (5,973) | (2,042) | (2,353) | ||||||||
Amortization of investment tax credits | (617) | (808) | (951) | ||||||||
Flow-through / permanent differences | 560 | 1,038 | 1,428 | ||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 430 | 839 | (2,617) | ||||||||
Other - net | $ 267 | $ 262 | $ 256 | ||||||||
Effective Income Tax Rate | (51.10%) | (19.30%) | 38.90% | ||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 2,981 | ||||||||||
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount | $ 0 | $ 0 | 0 | ||||||||
System Energy [Member] | |||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | (12) | ||||||||||
Amortization of Excess ADIT | (5,550) | (58,971) | |||||||||
Revisions of the 2017 Tax Legislation Enactment | 3,565 | ||||||||||
Settlement on Treatment of Regulatory Obligations | 0 | ||||||||||
Consolidated net income | $ 26,039 | $ 25,031 | $ 24,472 | $ 23,578 | $ 25,442 | $ 22,972 | $ 23,387 | $ 22,308 | 99,120 | 94,109 | 78,596 |
Income Tax Expense (Benefit) | 15,349 | (47,675) | 69,969 | ||||||||
Income before income taxes | 114,469 | 46,434 | 148,565 | ||||||||
Computed at statutory rate (35%) | 24,039 | 9,751 | 51,998 | ||||||||
State income taxes net of federal income tax effect | 5,134 | 2,812 | 5,635 | ||||||||
Regulatory differences - utility plant items | (6,213) | (2,510) | 12,880 | ||||||||
Equity component of AFUDC | (1,829) | (1,837) | (2,221) | ||||||||
Amortization of investment tax credits | (1,155) | (1,155) | (2,896) | ||||||||
Flow-through / permanent differences | (500) | 2,815 | (276) | ||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 1,300 | 4,876 | 4,800 | ||||||||
Other - net | $ 123 | $ 121 | $ 118 | ||||||||
Effective Income Tax Rate | 13.40% | (102.70%) | 47.10% | ||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ (69) | ||||||||||
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount | $ 0 | $ 0 | $ 0 |
Income Taxes (Significant Compo
Income Taxes (Significant Components Of Accumulated Deferred Income Taxes And Taxes Accrued) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Plant basis differences - net | $ (4,111,761) | $ (3,835,211) |
Regulatory assets for income taxes - net | (389,573) | (370,484) |
Nuclear decommissioning trusts | (1,015,542) | (1,128,140) |
Pension, net funding | (348,260) | (307,626) |
Combined unitary state taxes | (11,519) | (9,440) |
Power purchase agreements | 0 | (73,335) |
Deferred Tax Liability, Deferred Fuel | (8,360) | (29,953) |
Other | (445,378) | (248,997) |
Total | (6,330,393) | (6,003,186) |
Regulatory liabilities | 806,777 | 895,756 |
Pension and other post-employment benefits | 297,272 | 305,736 |
Sale and leaseback | 102,420 | 121,473 |
Compensation | 87,355 | 86,461 |
Accumulated deferred investment tax credit | 56,013 | 57,643 |
Provision for allowances and contingencies | 126,886 | 135,631 |
Deferred Tax Assets, Power Purchase Arrangements | 231,502 | 0 |
Deferred Tax Asset, Unbilled Revenue | (10,218) | 43,762 |
Net operating loss carryforwards | 1,133,197 | 628,165 |
Capital losses and miscellaneous tax credits | 22,597 | 20,549 |
Valuation allowance | (303,307) | (243,726) |
Other | 289,557 | 125,522 |
Total | 3,769,302 | 3,247,555 |
Non-current accrued taxes (including unrecognized tax benefits) | (1,775,638) | (1,296,928) |
Deferred tax asset Nuclear Decommissioning Liabilities | 929,251 | 1,070,583 |
Deferred Tax Liabilities, Net, Noncurrent | (4,336,729) | (4,052,559) |
Entergy Arkansas [Member] | ||
Plant basis differences - net | (979,033) | (966,791) |
Regulatory assets for income taxes - net | (170,949) | (169,482) |
Nuclear decommissioning trusts | (120,306) | (77,664) |
Pension, net funding | (102,685) | (91,962) |
Deferred fuel | 0 | (5,801) |
Other | (82,682) | (41,025) |
Total | (1,455,655) | (1,352,725) |
Regulatory liabilities | 250,410 | 247,964 |
Deferred tax Liability, Accrued Tax Expense, Compensation and Benefits Pensions | (21,828) | (19,068) |
Sale and leaseback | 0 | 0 |
Compensation | 2,550 | 1,708 |
Accumulated deferred investment tax credit | 8,285 | 8,599 |
Provision for allowances and contingencies | 5,365 | 9,877 |
Deferred Tax Assets, Power Purchase Arrangements | (15,087) | (17,223) |
Net operating loss carryforwards | 112,658 | 6,338 |
Other | 12,541 | 7,977 |
Total | 471,869 | 353,122 |
Accrued Income Taxes, Noncurrent | (199,340) | (85,942) |
Deferred Tax Assets, Deferred Income | 5,897 | 7,471 |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | |
Deferred tax asset Nuclear Decommissioning Liabilities | 111,078 | 99,479 |
Deferred Tax Liabilities, Net, Noncurrent | 1,183,126 | 1,085,545 |
Entergy Louisiana [Member] | ||
Plant basis differences - net | (1,987,025) | (1,893,831) |
Regulatory assets for income taxes - net | (79,117) | (74,917) |
Nuclear decommissioning trusts | (113,830) | (71,470) |
Pension, net funding | (98,743) | (92,693) |
Deferred fuel | (2,637) | (6,974) |
Other | (94,139) | (34,700) |
Total | (2,375,491) | (2,174,585) |
Regulatory liabilities | 283,507 | 339,126 |
Pension and other post-employment benefits | 74,881 | 80,102 |
Sale and leaseback | 0 | 18,999 |
Compensation | 3,670 | 1,959 |
Accumulated deferred investment tax credit | 32,534 | 33,928 |
Provision for allowances and contingencies | 77,298 | 81,108 |
Deferred Tax Assets, Power Purchase Arrangements | 18,004 | 19,385 |
Net operating loss carryforwards | 65,178 | 20,118 |
Other | 35,401 | 23,412 |
Total | 618,692 | 649,530 |
Accrued Income Taxes, Noncurrent | (707,714) | (701,666) |
Deferred Tax Liabilities, Deferred Expense | (28,081) | (17,345) |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | |
Deferred tax asset Nuclear Decommissioning Liabilities | 56,300 | 48,738 |
Deferred Tax Liabilities, Net, Noncurrent | 2,464,513 | 2,226,721 |
Entergy Mississippi [Member] | ||
Plant basis differences - net | (565,202) | (579,319) |
Regulatory assets for income taxes - net | (10,528) | (1,732) |
Nuclear decommissioning trusts | 0 | 0 |
Pension, net funding | (27,325) | (24,398) |
Deferred fuel | (609) | (11,819) |
Other | (27,905) | (13,443) |
Total | (631,569) | (630,711) |
Regulatory liabilities | 53,421 | 72,570 |
Deferred tax Liability, Accrued Tax Expense, Compensation and Benefits Pensions | (5,844) | (5,405) |
Sale and leaseback | 0 | 0 |
Compensation | 1,625 | 1,265 |
Accumulated deferred investment tax credit | 2,396 | 2,541 |
Provision for allowances and contingencies | 12,963 | 13,412 |
Deferred Tax Assets, Power Purchase Arrangements | 1,147 | 1,140 |
Net operating loss carryforwards | 21,492 | 4,896 |
Other | 999 | 1,610 |
Total | 92,959 | 97,556 |
Accrued Income Taxes, Noncurrent | (56,222) | (18,714) |
Deferred Tax Assets, Deferred Income | 4,715 | 5,527 |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 45 | |
Deferred tax asset Nuclear Decommissioning Liabilities | 0 | 0 |
Deferred Tax Liabilities, Net, Noncurrent | 594,832 | 551,869 |
Entergy New Orleans [Member] | ||
Plant basis differences - net | (133,073) | (135,143) |
Regulatory assets for income taxes - net | (16,867) | (20,009) |
Nuclear decommissioning trusts | 0 | 0 |
Pension, net funding | (11,859) | (11,885) |
Deferred fuel | (666) | (1,701) |
Other | (25,909) | (7,640) |
Total | (188,374) | (176,378) |
Regulatory liabilities | 33,258 | 40,181 |
Deferred tax Liability, Accrued Tax Expense, Compensation and Benefits Pensions | (12,666) | (11,371) |
Sale and leaseback | 0 | 0 |
Compensation | 496 | 512 |
Accumulated deferred investment tax credit | 556 | 579 |
Provision for allowances and contingencies | 24,022 | 23,962 |
Deferred Tax Assets, Power Purchase Arrangements | 7,961 | 12,155 |
Net operating loss carryforwards | 5,056 | 480 |
Other | 9,027 | 12,181 |
Total | 69,138 | 79,315 |
Accrued Income Taxes, Noncurrent | (235,300) | (226,532) |
Deferred Tax Assets, Deferred Income | 1,428 | 636 |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | |
Deferred tax asset Nuclear Decommissioning Liabilities | 0 | 0 |
Deferred Tax Liabilities, Net, Noncurrent | 354,536 | 323,595 |
Entergy Texas [Member] | ||
Plant basis differences - net | (551,365) | (544,282) |
Regulatory assets for income taxes - net | (59,745) | (57,777) |
Nuclear decommissioning trusts | 0 | 0 |
Pension, net funding | (19,961) | (20,331) |
Deferred fuel | (4,380) | (2,835) |
Other | 2,059 | (6,085) |
Total | (633,392) | (631,310) |
Regulatory liabilities | 65,602 | 86,032 |
Deferred tax Liability, Accrued Tax Expense, Compensation and Benefits Pensions | (15,406) | (14,215) |
Sale and leaseback | 0 | 0 |
Compensation | 1,282 | 995 |
Accumulated deferred investment tax credit | 2,217 | 2,347 |
Provision for allowances and contingencies | 4,024 | 5,579 |
Deferred Tax Assets, Power Purchase Arrangements | 26 | (18) |
Net operating loss carryforwards | 0 | 261 |
Other | 2,004 | 2,127 |
Total | 65,293 | 90,124 |
Accrued Income Taxes, Noncurrent | (17,314) | (11,349) |
Deferred Tax Assets, Deferred Income | 5,544 | 7,016 |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | |
Deferred tax asset Nuclear Decommissioning Liabilities | 0 | 0 |
Deferred Tax Liabilities, Net, Noncurrent | 585,413 | 552,535 |
System Energy [Member] | ||
Plant basis differences - net | (380,594) | (403,809) |
Regulatory assets for income taxes - net | (52,662) | (46,627) |
Nuclear decommissioning trusts | (100,621) | (86,882) |
Pension, net funding | (21,609) | (18,898) |
Deferred fuel | (55) | (312) |
Other | (7,350) | (4,544) |
Total | (562,891) | (561,072) |
Regulatory liabilities | 121,011 | 110,370 |
Deferred tax Liability, Accrued Tax Expense, Compensation and Benefits Pensions | (898) | (632) |
Sale and leaseback | 102,480 | 102,481 |
Compensation | 75 | (260) |
Accumulated deferred investment tax credit | 10,025 | 9,649 |
Provision for allowances and contingencies | 0 | 0 |
Deferred Tax Assets, Power Purchase Arrangements | 0 | 0 |
Net operating loss carryforwards | 0 | 0 |
Other | 3 | 4 |
Total | 293,186 | 268,255 |
Accrued Income Taxes, Noncurrent | (544,235) | (512,479) |
Deferred Tax Assets, Deferred Income | 0 | 0 |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 7,857 | |
Deferred tax asset Nuclear Decommissioning Liabilities | 52,633 | 46,643 |
Deferred Tax Liabilities, Net, Noncurrent | $ 813,940 | $ 805,296 |
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, 2019 | Dec. 31, 2018 | |
Operating Loss Carryforwards [Line Items] | ||
Capital losses, Carryover Amount | $ 22,597 | $ 20,549 |
Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards, Pre January 1, 2018 | 9,800,000 | |
Operating losses, Carryover Amount | 10,700,000 | |
Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 4,400,000 | |
Tax credits, Carryover Amount | 0 | |
Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 4,300,000 | |
Tax credits, Carryover Amount | 5,200 | |
Federal [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 2,000,000 | |
Tax credits, Carryover Amount | 0 | |
Federal [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | $ 1,100,000 | |
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Tax credits, Carryover Amount | $ 0 | |
Federal [Member] | Entergy Texas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | 1,900 | |
Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | 3,200 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 20,800,000 | |
Deferred Tax Assets, Charitable Contribution Carryforwards | 395,800 | |
State and Local Jurisdiction [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 4,500,000 | |
Tax credits, Carryover Amount | 0 | |
State and Local Jurisdiction [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 5,200,000 | |
Tax credits, Carryover Amount | 0 | |
State and Local Jurisdiction [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 2,100,000 | |
Tax credits, Carryover Amount | 0 | |
State and Local Jurisdiction [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | $ 1,200,000 | |
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Tax credits, Carryover Amount | $ 0 | |
State and Local Jurisdiction [Member] | Entergy Texas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | $ 2,900 | |
Tax Credit Carryforward, Expiration Date | Dec. 31, 2027 | |
State and Local Jurisdiction [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | $ 0 | |
Tax credits, Carryover Amount | 13,100 | |
Other Federal And State [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Carryover Amount | $ 101,100 | |
Minimum [Member] | Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2023 | |
Minimum [Member] | Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2035 | |
Minimum [Member] | State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2019 | |
Minimum [Member] | State and Local Jurisdiction [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2035 | |
Minimum [Member] | State and Local Jurisdiction [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2019 | |
Minimum [Member] | Other Federal And State [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2019 | |
Minimum [Member] | Other Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2035 | |
Minimum [Member] | Other Federal [Member] | Entergy Texas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2029 | |
Minimum [Member] | Other Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2029 | |
Maximum [Member] | Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Maximum [Member] | Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Maximum [Member] | State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2038 | |
Maximum [Member] | State and Local Jurisdiction [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Maximum [Member] | State and Local Jurisdiction [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2022 | |
Maximum [Member] | Other Federal And State [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2037 | |
Maximum [Member] | Other Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2023 | |
Maximum [Member] | Other Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2037 | |
Maximum [Member] | Other Federal [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2038 | |
Maximum [Member] | Other Federal [Member] | Entergy Texas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2037 | |
Maximum [Member] | Other Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2038 | |
Tax Credit Carryforward, Expiration Date | Dec. 31, 2037 |
Income Taxes (Schedule Of Unrec
Income Taxes (Schedule Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | $ 7,181,482 | $ 4,871,846 | $ 3,909,855 |
Additions based on tax positions related to the current year | 731,276 | 2,276,614 | 1,120,687 |
Additions for tax positions of prior years | 151,628 | 506,142 | 283,683 |
Reductions for tax positions of prior years | (681,232) | (274,600) | (442,379) |
Settlements | 0 | (198,520) | 0 |
Gross balance at December 31 | 7,383,154 | 7,181,482 | 4,871,846 |
Unrecognized tax benefits net of unused tax attributes and payments | 1,541,567 | 1,213,490 | 916,322 |
Remaining balances of unrecognized tax benefits, effective income tax rates | 4,962,000 | 5,020,000 | 3,410,000 |
Net operating loss carryforwards | 1,133,197 | 628,165 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (5,831,587) | (5,957,992) | (3,945,524) |
Cash Paid To Taxing Authorities | 10,000 | 10,000 | 10,000 |
Entergy Arkansas [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 2,503 | ||
Unrecognized Tax Expense | 1,298,662 | (117,716) | |
Additions based on tax positions related to the current year | 84,335 | 1,430,828 | 8,974 |
Additions for tax positions of prior years | 20,399 | 31,612 | 3,682 |
Reductions for tax positions of prior years | (62,154) | (21,619) | (132,875) |
Settlements | (24,443) | ||
Gross balance at December 31 | 1,341,242 | ||
Unrecognized tax benefits net of unused tax attributes and payments | 207,055 | 124,823 | (117,716) |
Net operating loss carryforwards | 112,658 | 6,338 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (1,134,187) | (1,173,839) | 0 |
Entergy Louisiana [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 2,400,171 | 2,518,457 | 2,440,339 |
Additions based on tax positions related to the current year | 28,705 | 30,577 | 32,843 |
Additions for tax positions of prior years | 25,090 | 77,372 | 235,331 |
Reductions for tax positions of prior years | (72,313) | (158,510) | (190,056) |
Settlements | (67,725) | ||
Gross balance at December 31 | 2,381,653 | 2,400,171 | 2,518,457 |
Unrecognized tax benefits net of unused tax attributes and payments | 808,396 | 802,345 | 926,550 |
Net operating loss carryforwards | 65,178 | 20,118 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (1,573,257) | (1,597,826) | (1,591,907) |
Entergy Mississippi [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 508,765 | 15,122 | 12,206 |
Additions based on tax positions related to the current year | 68,594 | 493,039 | 2,105 |
Additions for tax positions of prior years | 1,651 | 3,878 | 1,267 |
Reductions for tax positions of prior years | (12,723) | (3,253) | (456) |
Settlements | (21) | ||
Gross balance at December 31 | 566,287 | 508,765 | 15,122 |
Unrecognized tax benefits net of unused tax attributes and payments | 59,311 | 30,497 | 0 |
Net operating loss carryforwards | 21,492 | 4,896 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (506,976) | (478,268) | (15,122) |
Entergy New Orleans [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 686,687 | 679,544 | 166,230 |
Additions based on tax positions related to the current year | 40,676 | 2,261 | 509,183 |
Additions for tax positions of prior years | 489 | 12,972 | 13,364 |
Reductions for tax positions of prior years | (11,079) | (8,081) | (9,233) |
Settlements | (9) | ||
Gross balance at December 31 | 716,773 | 686,687 | 679,544 |
Unrecognized tax benefits net of unused tax attributes and payments | 271,343 | 265,874 | 238,170 |
Net operating loss carryforwards | 5,056 | 480 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (445,430) | (420,813) | (441,374) |
Entergy Texas [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 17,802 | 16,399 | 15,946 |
Additions based on tax positions related to the current year | 2,312 | 1,978 | 1,747 |
Additions for tax positions of prior years | 1,299 | 1,722 | 3,115 |
Reductions for tax positions of prior years | (7) | (2,262) | (4,409) |
Settlements | (35) | ||
Gross balance at December 31 | 21,406 | 17,802 | 16,399 |
Unrecognized tax benefits net of unused tax attributes and payments | 17,462 | 14,603 | 15,761 |
Net operating loss carryforwards | 0 | 261 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (3,944) | (3,199) | (638) |
System Energy [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 467,487 | 445,511 | 472,372 |
Additions based on tax positions related to the current year | 5,496 | 18,271 | 909 |
Additions for tax positions of prior years | 2,186 | 7,255 | 1,432 |
Reductions for tax positions of prior years | (1,838) | (3,253) | (29,202) |
Settlements | (297) | ||
Gross balance at December 31 | 473,331 | 467,487 | 445,511 |
Unrecognized tax benefits net of unused tax attributes and payments | 464,939 | 425,259 | 432,975 |
Net operating loss carryforwards | 0 | 0 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | $ (8,392) | $ (42,228) | $ (12,536) |
Income Taxes (Summary Of Unreco
Income Taxes (Summary Of Unrecognized Benefits That Would Affect Effective Income Tax Rate) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Unrecognized tax benefits that would impact effective income tax rate | $ 2,421 | $ 2,161 | $ 1,462 |
Entergy Arkansas [Member] | |||
Unrecognized tax benefits that would impact effective income tax rate | 203.3 | 85.4 | 2.6 |
Entergy Louisiana [Member] | |||
Unrecognized tax benefits that would impact effective income tax rate | 556.3 | 594 | 575.8 |
Entergy Mississippi [Member] | |||
Unrecognized tax benefits that would impact effective income tax rate | 1.9 | 1.5 | 0 |
Entergy New Orleans [Member] | |||
Unrecognized tax benefits that would impact effective income tax rate | 242.7 | 246.2 | 31.7 |
Entergy Texas [Member] | |||
Unrecognized tax benefits that would impact effective income tax rate | 5.7 | 5.1 | 4.4 |
System Energy [Member] | |||
Unrecognized tax benefits that would impact effective income tax rate | $ 0 | $ 0 | $ 0 |
Income Taxes (Summary Of Accrue
Income Taxes (Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Accrued income tax interest and penalties | $ 48 | $ 44 | $ 38 |
Entergy Arkansas [Member] | |||
Accrued income tax interest and penalties | 3.1 | 1.7 | 1.6 |
Entergy Louisiana [Member] | |||
Accrued income tax interest and penalties | 14.2 | 17.9 | 14.1 |
Entergy Mississippi [Member] | |||
Accrued income tax interest and penalties | 1.7 | 1.2 | 1 |
Entergy New Orleans [Member] | |||
Accrued income tax interest and penalties | 4.7 | 2.7 | 2.1 |
Entergy Texas [Member] | |||
Accrued income tax interest and penalties | 1.1 | 0.9 | 0.4 |
System Energy [Member] | |||
Accrued income tax interest and penalties | $ 14.5 | $ 13.2 | $ 8.5 |
Income Taxes Income Taxes (Summ
Income Taxes Income Taxes (Summary of Interest on Income Taxes Expense Related to Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 4 | $ 7 | $ 8 |
Entergy Arkansas [Member] | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 1.4 | 0.2 | 0.2 |
Entergy Louisiana [Member] | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | (3.7) | 3.8 | 5.7 |
Entergy Mississippi [Member] | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0.5 | 0.2 | 0.2 |
Entergy New Orleans [Member] | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 2 | 0.6 | 0.6 |
Entergy Texas [Member] | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0.2 | 0.5 | (0.8) |
System Energy [Member] | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 1.3 | $ 4.7 | $ 4.8 |
Income Taxes Income Taxes (Tax
Income Taxes Income Taxes (Tax Cuts and Jobs Act) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Reduction to Regulatory Liability due to return of unprotected excess ADIT | $ 273 | $ 776 |
Entergy Arkansas [Member] | ||
Net Regulatory Liabilities for Income Taxes | 487 | 605 |
Protected Excess ADIT | 490 | 521 |
Unprotected Excess Accumulated Deferred Income Taxes | 9 | 117 |
Reduction to Regulatory Liability due to return of unprotected excess ADIT | 126 | 368 |
Entergy Louisiana [Member] | ||
Net Regulatory Liabilities for Income Taxes | 531 | 612 |
Protected Excess ADIT | 797 | 812 |
Unprotected Excess Accumulated Deferred Income Taxes | 242 | 295 |
Reduction to Regulatory Liability due to return of unprotected excess ADIT | 39 | 141 |
Entergy Mississippi [Member] | ||
Net Regulatory Liabilities for Income Taxes | 237 | 246 |
Protected Excess ADIT | 261 | 271 |
Reduction to Regulatory Liability due to return of unprotected excess ADIT | 0 | 159 |
Entergy New Orleans [Member] | ||
Net Regulatory Liabilities for Income Taxes | 59 | 86 |
Protected Excess ADIT | 62 | 59 |
Unprotected Excess Accumulated Deferred Income Taxes | 9 | 25 |
Reduction to Regulatory Liability due to return of unprotected excess ADIT | 14 | 13 |
Entergy Texas [Member] | ||
Net Regulatory Liabilities for Income Taxes | 253 | 352 |
Protected Excess ADIT | 228 | 237 |
Unprotected Excess Accumulated Deferred Income Taxes | 83 | 171 |
Reduction to Regulatory Liability due to return of unprotected excess ADIT | 87 | 15 |
System Energy [Member] | ||
Net Regulatory Liabilities for Income Taxes | 143 | 163 |
Protected Excess ADIT | 186 | 202 |
Unprotected Excess Accumulated Deferred Income Taxes | 0 | 4 |
Reduction to Regulatory Liability due to return of unprotected excess ADIT | $ 7 | $ 80 |
Revolving Credit Facilities, _3
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Narrative) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | |||
Short-term borrowings | $ 1,946,727 | $ 1,942,339 | |
Line of credit facility, maximum borrowing capacity | 3,500,000 | ||
Amount of total borrowing capacity against which fronting commitments exist | $ 20,000 | ||
Line of credit facility, commitment fee percentage | 0.225% | ||
Amount Drawn/ Outstanding | $ 440,000 | ||
Consolidated debt ratio | 65.00% | ||
Commercial Paper program limit | $ 2,000,000 | ||
Commercial Paper Amount Outstanding | $ 1,947,000 | ||
Consolidated debt ratio of lessees total capitalization | 70.00% | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.34% | ||
Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Consolidated debt ratio | 65.00% | ||
Letters of credit posted to cover derivative exposure | $ 200 | ||
Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Amount of total borrowing capacity against which fronting commitments exist | $ 10,000 | ||
Consolidated debt ratio | 65.00% | ||
Entergy Nuclear Vermont Yankee [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | $ 139,000 | ||
Line of credit facility, commitment fee percentage | 0.20% | ||
Amount Drawn/ Outstanding | $ 139,000 | ||
Debt, weighted average interest rate | 3.93% | ||
System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Consolidated debt ratio of lessees total capitalization | 70.00% | ||
Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Amount of total borrowing capacity against which fronting commitments exist | $ 5,000 | ||
Consolidated debt ratio | 65.00% | ||
Consolidated debt ratio of lessees total capitalization | 70.00% | ||
Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Amount of total borrowing capacity against which fronting commitments exist | $ 30,000 | ||
Consolidated debt ratio | 65.00% | ||
Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Amount of total borrowing capacity against which fronting commitments exist | $ 15,000 | ||
Consolidated debt ratio | 65.00% | ||
Consolidated debt ratio of lessees total capitalization | 70.00% | ||
Entergy Louisiana Waterford VIE [Member] | |||
Debt Instrument [Line Items] | |||
Amount Drawn/ Outstanding | $ 49,900 | ||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | ||
Entergy Louisiana River Bend VIE [Member] | |||
Debt Instrument [Line Items] | |||
Amount Drawn/ Outstanding | $ 70,300 | ||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | ||
System Energy VIE [Member] | |||
Debt Instrument [Line Items] | |||
Amount Drawn/ Outstanding | $ 31,600 | ||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | ||
Entergy Arkansas VIE [Member] | |||
Debt Instrument [Line Items] | |||
Amount Drawn/ Outstanding | $ 15,100 | ||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | ||
Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Debt, weighted average interest rate | 3.77% | ||
Commercial Paper Program [Member] | |||
Debt Instrument [Line Items] | |||
Debt, weighted average interest rate | 2.71% | ||
Three Point Nine Two Percent Series H Dues February Two Thousand Twenty One [Member] | Entergy Louisiana Waterford VIE [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable noncurrent amount | $ 40,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.92% | ||
Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, commitment fee percentage | 0.225% | ||
Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, commitment fee percentage | 0.075% | ||
Credit Facility Of Thirty Seven Point Five Million [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | $ 37,500 | ||
Amount Drawn/ Outstanding | 0 | ||
Letters of Credit Outstanding, Amount | 0 | ||
Line of Credit Facility, Expiration Date | May 31, 2020 | ||
Credit Facility Of Thirty Five Million [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | 35,000 | ||
Amount Drawn/ Outstanding | 0 | ||
Letters of Credit Outstanding, Amount | 0 | ||
Line of Credit Facility, Expiration Date | May 31, 2020 | ||
Credit Facility Of Ten Million [Member] | Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | 10,000 | ||
Amount Drawn/ Outstanding | 0 | ||
Letters of Credit Outstanding, Amount | 0 | ||
Line of Credit Facility, Expiration Date | May 31, 2020 | ||
Credit Facility Of Twenty Five Million [Member] | Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | 25,000 | ||
Amount Drawn/ Outstanding | 20,000 | ||
Letters of Credit Outstanding, Amount | 800 | ||
Line of Credit Facility, Expiration Date | Nov. 20, 2021 | ||
Credit Facility Of Twenty Million [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | 20,000 | ||
Amount Drawn/ Outstanding | 0 | ||
Letters of Credit Outstanding, Amount | 0 | ||
Line of Credit Facility, Expiration Date | Apr. 30, 2020 | ||
Credit Facility Of One Hundred And Fifty Million [Member] | Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | 150,000 | ||
Amount Drawn/ Outstanding | 0 | ||
Letters of Credit Outstanding, Amount | 0 | ||
Line of Credit Facility, Expiration Date | Sep. 14, 2024 | ||
Credit Facility Of One Hundred And Fifty Million [Member] | Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | 150,000 | ||
Amount Drawn/ Outstanding | 0 | ||
Letters of Credit Outstanding, Amount | $ 1,300 | ||
Line of Credit Facility, Expiration Date | Sep. 14, 2024 | ||
Credit Facility Of Three Hundred Fifty Million [Member] | Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Expiration Date | Sep. 14, 2024 |
Revolving Credit Facilities, _4
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, 2019USD ($) |
Summary of the borrowings outstanding and capacity available under the facility | |
Line of credit facility, maximum borrowing capacity | $ 3,500 |
Amount Drawn/ Outstanding | 440 |
Letters of Credit | 6 |
Capacity Available | $ 3,054 |
Revolving Credit Facilities, _5
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Credit Facilities) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2019 | |
Line of credit facility, maximum borrowing capacity | $ 3,500,000 | |
Amount Drawn/ Outstanding | 440,000 | |
Amount of total borrowing capacity against which fronting commitments exist | 20,000 | |
Entergy Arkansas [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | 5,000 | |
Entergy Arkansas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ||
Expiration Date | Sep. 14, 2024 | |
Line of credit facility, maximum borrowing capacity | $ 150,000 | |
Interest Rate | 2.92% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Arkansas [Member] | Credit Facility Of Twenty Million [Member] | ||
Expiration Date | Apr. 30, 2020 | |
Line of credit facility, maximum borrowing capacity | $ 20,000 | |
Interest Rate | 2.92% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Louisiana [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | 15,000 | |
Entergy Louisiana [Member] | Credit Facility Of Three Hundred and Fifty Million [Member] | ||
Line of credit facility, maximum borrowing capacity | $ 350,000 | |
Interest Rate | 2.92% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Mississippi [Member] | Credit Facility Of Thirty Five Million [Member] | ||
Expiration Date | May 31, 2020 | |
Line of credit facility, maximum borrowing capacity | $ 35,000 | |
Interest Rate | 3.30% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Mississippi [Member] | Credit Facility Of Ten Million [Member] | ||
Expiration Date | May 31, 2020 | |
Line of credit facility, maximum borrowing capacity | $ 10,000 | |
Interest Rate | 3.30% | |
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, 2020 | |
Line of credit facility, maximum borrowing capacity | $ 37,500 | |
Interest Rate | 3.30% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Texas [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | 30,000 | |
Entergy Texas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ||
Expiration Date | Sep. 14, 2024 | |
Line of credit facility, maximum borrowing capacity | $ 150,000 | |
Interest Rate | 3.30% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 1,300 | |
Entergy New Orleans [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | 10,000 | |
Entergy New Orleans [Member] | Credit Facility Of Twenty Five Million [Member] | ||
Expiration Date | Nov. 20, 2021 | |
Line of credit facility, maximum borrowing capacity | $ 25,000 | |
Interest Rate | 2.92% | |
Amount Drawn/ Outstanding | $ 20,000 | |
Letters of Credit Outstanding, Amount | $ 800 |
Revolving Credit Facilities, _6
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, 2019USD ($) | |
Letters Of Credit | $ 6,000,000 |
Entergy Arkansas [Member] | Credit Facility Of Twenty Five Million [Member] | |
Uncommitted Credit Facility | 25,000,000 |
Line of Credit Facility, Commitment Fee Amount | 0.0070 |
Letters Of Credit | 1,000,000 |
Entergy Louisiana [Member] | Credit Facility of One Hundred and Twenty Five Million [Member] | |
Uncommitted Credit Facility | 125,000,000 |
Line of Credit Facility, Commitment Fee Amount | 0.0070 |
Letters Of Credit | 12,300,000 |
Entergy Mississippi [Member] | Credit Facility of Forty Million [Domain] | |
Uncommitted Credit Facility | 64,000,000 |
Line of Credit Facility, Commitment Fee Amount | 0.0070 |
Letters Of Credit | 1,800,000 |
Entergy New Orleans [Member] | Credit Facility of Fifteen Million [Domain] | |
Uncommitted Credit Facility | 15,000,000 |
Line of Credit Facility, Commitment Fee Amount | 0.0100 |
Letters Of Credit | 5,600,000 |
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 | $ 12,100,000 |
Revolving Credit Facilities, _7
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Short-Term Borrowings And The Outstanding Short-Term Borrowings) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Entergy Arkansas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | $ 250 |
Borrowings | 22 |
Entergy Louisiana [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 450 |
Borrowings | 83 |
Entergy Mississippi [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 175 |
Borrowings | 0 |
Entergy New Orleans [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 150 |
Borrowings | 0 |
Entergy Texas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | 0 |
System Energy [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | $ 0 |
Revolving Credit Facilities, _8
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2019 | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ||
Amount Drawn/ Outstanding | $ 440 | |
Entergy Arkansas VIE [Member] | ||
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | |
Amount of Facility | $ 80 | |
Weighted Average Interest Rate on Borrowings | 3.33% | |
Amount Drawn/ Outstanding | $ 15.1 | |
System Energy VIE [Member] | ||
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | |
Amount of Facility | $ 120 | |
Weighted Average Interest Rate on Borrowings | 3.34% | |
Amount Drawn/ Outstanding | $ 31.6 | |
Entergy Louisiana Waterford VIE [Member] | ||
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | |
Amount of Facility | $ 105 | |
Weighted Average Interest Rate on Borrowings | 3.30% | |
Amount Drawn/ Outstanding | $ 49.9 | |
Entergy Louisiana River Bend VIE [Member] | ||
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | |
Amount of Facility | $ 105 | |
Weighted Average Interest Rate on Borrowings | 3.23% | |
Amount Drawn/ Outstanding | $ 70.3 |
Revolving Credit Facilities, _9
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Notes Payable By Variable Interest Entities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Notes payable by variable interest entities | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.34% | |
Three Point Three Eight Percent Series R Due August Two Thousand Twenty [Member] | Entergy Louisiana River Bend VIE [Member] | ||
Notes payable by variable interest entities | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.38% | |
Amount | $ 70 | |
Three Point Nine Two Percent Series H Dues February Two Thousand Twenty One [Member] | Entergy Louisiana Waterford VIE [Member] | ||
Notes payable by variable interest entities | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.92% | |
Amount | $ 40 | |
Three Point Seven Eight Percent Series I Due October Two Thousand Eighteen [Member] | System Energy VIE [Member] | ||
Notes payable by variable interest entities | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.42% | |
Amount | $ 100 | |
Three Point Six Five Percent Series L Notes Due July Two Thousand Twenty One [Member] | Entergy Arkansas VIE [Member] | ||
Notes payable by variable interest entities | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.65% | |
Amount | $ 90 | |
Three Point One Seven Percent Series M Notes Due December Two Thousand Twenty Three [Member] | Entergy Arkansas VIE [Member] | ||
Notes payable by variable interest entities | ||
Amount | $ 40 | |
Three Point Two Two Percent Series I Due December Two Thousand Twenty Three [Member] | Entergy Louisiana Waterford VIE [Member] | ||
Notes payable by variable interest entities | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.22% | |
Amount | $ 20 | |
Three Point One Seven Percent Series M Due December Two Thousand Twenty Three [Member] | Entergy Arkansas VIE [Member] | ||
Notes payable by variable interest entities | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.17% |
Long - Term Debt (Narrative) (D
Long - Term Debt (Narrative) (Details) - USD ($) | 1 Months Ended | ||||||||||||||||
Jul. 31, 2015 | May 31, 2015 | Jun. 30, 2010 | Sep. 30, 2009 | Apr. 30, 2007 | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2011 | Aug. 31, 2010 | Nov. 30, 2009 | Jun. 30, 2007 | |
Debt Instrument [Line Items] | |||||||||||||||||
Debt instrument, interest rate, stated percentage | 3.34% | ||||||||||||||||
Year One | $ 795,000,000 | ||||||||||||||||
Year Two | 1,358,159,000 | ||||||||||||||||
Year Three | 1,104,289,000 | ||||||||||||||||
Year Four | 1,865,154,000 | ||||||||||||||||
Year Five | 1,175,000,000 | ||||||||||||||||
Bonds issued to recover cost | 297,981,000 | $ 423,858,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.34% | ||||||||||||||||
System Energy [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Year One | 0 | ||||||||||||||||
Year Two | 131,600,000 | ||||||||||||||||
Year Three | 134,000,000 | ||||||||||||||||
Year Four | 250,000,000 | ||||||||||||||||
Year Five | 0 | ||||||||||||||||
Regulatory Assets | 75,900,000 | $ 76,400,000 | |||||||||||||||
Regulatory Liabilities | 55,600,000 | ||||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Carrying costs on issuance of bonds to recover storm damage restoration costs | $ 11,500,000 | ||||||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | $ 4,600,000 | ||||||||||||||||
Year One | 0 | ||||||||||||||||
Year Two | 507,359,000 | ||||||||||||||||
Year Three | 0 | ||||||||||||||||
Year Four | 290,000,000 | ||||||||||||||||
Year Five | 375,000,000 | ||||||||||||||||
Regulatory Assets | 168,900,000 | 138,300,000 | |||||||||||||||
Bonds issued to recover cost | 6,772,000 | 20,898,000 | |||||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Year One | 320,000,000 | ||||||||||||||||
Year Two | 360,200,000 | ||||||||||||||||
Year Three | 200,000,000 | ||||||||||||||||
Year Four | 379,185,000 | ||||||||||||||||
Year Five | 700,000,000 | ||||||||||||||||
Bonds issued to recover cost | 33,220,000 | 55,682,000 | |||||||||||||||
Regulatory Liabilities | 2,400,000 | 18,800,000 | |||||||||||||||
Entergy New Orleans [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | $ 3,000,000 | ||||||||||||||||
Year One | 25,000,000 | ||||||||||||||||
Year Two | 20,000,000 | ||||||||||||||||
Year Three | 70,000,000 | ||||||||||||||||
Year Four | 100,000,000 | ||||||||||||||||
Year Five | 0 | ||||||||||||||||
Regulatory Assets | 52,900,000 | 49,300,000 | |||||||||||||||
Cost recovered through issuance of securitization bonds | 98,700,000 | ||||||||||||||||
Bonds issued to recover cost | 52,641,000 | 63,620,000 | |||||||||||||||
Amount of Hurricane Issac storm cost to be recovered through securitization | 31,800,000 | ||||||||||||||||
Replenishment amount for storm reserve spending | $ 63,900,000 | ||||||||||||||||
Entergy Texas [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Year One | 0 | ||||||||||||||||
Year Two | 200,000,000 | ||||||||||||||||
Year Three | 50,289,000 | ||||||||||||||||
Year Four | 155,969,000 | ||||||||||||||||
Year Five | 0 | ||||||||||||||||
Regulatory Assets | 42,500,000 | 50,900,000 | |||||||||||||||
Bonds issued to recover cost | $ 205,349,000 | $ 283,659,000 | |||||||||||||||
Hurricane Rita [Member] | Entergy Texas [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Cost recovered through issuance of securitization bonds | $ 353,000,000 | ||||||||||||||||
Amount of storm cost recovery bonds for transaction costs | 6,000,000 | ||||||||||||||||
Deferred income tax benefits | $ 32,000,000 | ||||||||||||||||
Bonds issued to recover cost | $ 329,500,000 | ||||||||||||||||
Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Cost recovered through issuance of securitization bonds | $ 566,400,000 | ||||||||||||||||
Bonds issued to recover cost | $ 545,900,000 | ||||||||||||||||
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 | $ 50,289,000 | $ 81,237,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.93% | 5.93% | |||||||||||||||
4.0% Series First Mortgage Bonds Due March 2029 [Member] | Entergy Texas [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Debt instrument, interest rate, stated percentage | 4.00% | ||||||||||||||||
Long-term Debt, Gross | $ 300,000,000 | $ 0 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | ||||||||||||||||
4.50% Series First Mortgage Bonds Due March 2039 [Member] | Entergy Texas [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Debt instrument, interest rate, stated percentage | 4.50% | ||||||||||||||||
Long-term Debt, Gross | $ 400,000,000 | $ 0 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | ||||||||||||||||
Securitization Bonds, 2.04% Series Senior Secured, Due September 2023 [Member] | Entergy Louisiana [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Debt instrument, interest rate, stated percentage | 2.04% | 2.04% | 2.04% | ||||||||||||||
Value of non interest bearing first mortgage bonds | $ 207,200,000 | ||||||||||||||||
Long-term Debt, Gross | $ 34,185,000 | $ 56,910,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.04% | 2.04% | 2.04% | ||||||||||||||
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% | ||||||||||||||
Value of non interest bearing first mortgage bonds | $ 124,100,000 | ||||||||||||||||
Year One | $ 7,300,000 | ||||||||||||||||
Long-term Debt, Gross | $ 7,259,000 | $ 21,692,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.30% | 2.30% | 2.30% | ||||||||||||||
Tranche A One Two Point Six Seven Percent Due June Two Thousand Twenty Seven [Member] | Entergy New Orleans [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Debt instrument, interest rate, stated percentage | 2.67% | ||||||||||||||||
Issuance Of Debt | $ 98,700,000 | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.67% | ||||||||||||||||
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 | $ 155,969,000 | $ 203,613,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.38% | 4.38% | |||||||||||||||
Subsequent Event [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Year One | $ 32,800,000 | ||||||||||||||||
Year Two | $ 17,500,000 | ||||||||||||||||
Subsequent Event [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Year One | 49,800,000 | ||||||||||||||||
Year Two | 52,000,000 | ||||||||||||||||
Year Three | $ 54,300,000 | ||||||||||||||||
Subsequent Event [Member] | Tranche A One Two Point Six Seven Percent Due June Two Thousand Twenty Seven [Member] | Entergy New Orleans [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Year One | 11,600,000 | ||||||||||||||||
Year Two | 11,900,000 | ||||||||||||||||
Year Three | $ 12,200,000 | ||||||||||||||||
Year Four | $ 12,500,000 | ||||||||||||||||
Year Five | $ 6,200,000 | ||||||||||||||||
Subsequent Event [Member] | Securitization Bonds, 2.04% Series Senior Secured, Due September 2023 [Member] | Entergy Louisiana [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Year One | $ 23,200,000 | ||||||||||||||||
Year Two | $ 11,000,000 | ||||||||||||||||
Grand Gulf [Member] | System Energy [Member] | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Year One | $ 17,188,000 | $ 17,188,000 | |||||||||||||||
Year Two | 17,188,000 | 17,188,000 | |||||||||||||||
Year Three | 17,188,000 | 17,188,000 | |||||||||||||||
Year Four | 17,188,000 | 17,188,000 | |||||||||||||||
Year Five | 17,188,000 | 17,188,000 | |||||||||||||||
Regulatory Assets | 0 | ||||||||||||||||
Regulatory Liabilities | $ 55,600,000 | $ 55,600,000 | $ 55,600,000 |
Long - Term Debt (Schedule Of L
Long - Term Debt (Schedule Of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2011 | Aug. 31, 2010 | |
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.34% | ||||
Unamortized Premium and Discount - Net | $ (16,124) | $ (14,784) | |||
Unamortized Debt Issuance Expense | (143,502) | (130,612) | |||
Other | 12,096 | 12,594 | |||
Total Long-Term Debt | 17,873,655 | 16,168,312 | |||
Long-term Debt, Current Maturities | 795,012 | 650,009 | |||
Long-term Debt, Excluding Current Maturities | 17,078,643 | 15,518,303 | |||
Fair Value of Long-Term Debt | 19,059,950 | 16,101,455 | |||
Entergy Mississippi [Member] | |||||
Debt Instrument [Line Items] | |||||
Unamortized Premium and Discount - Net | 6,127 | (989) | |||
Unamortized Debt Issuance Expense | (16,998) | (13,261) | |||
Total Long-Term Debt | 1,614,129 | 1,325,750 | |||
Long-term Debt, Current Maturities | 0 | 150,000 | |||
Long-term Debt, Excluding Current Maturities | 1,614,129 | 1,175,750 | |||
Fair Value of Long-Term Debt | 1,709,505 | 1,276,452 | |||
Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Unamortized Premium and Discount - Net | 1,664 | 4,408 | |||
Unamortized Debt Issuance Expense | (34,936) | (33,831) | |||
Other | 2,007 | 2,026 | |||
Total Long-Term Debt | 3,517,208 | 3,225,759 | |||
Long-term Debt, Current Maturities | 0 | 0 | |||
Long-term Debt, Excluding Current Maturities | 3,517,208 | 3,225,759 | |||
Fair Value of Long-Term Debt | 3,747,914 | 3,189,491 | |||
Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Unamortized Premium and Discount - Net | (17,372) | (14,955) | |||
Unamortized Debt Issuance Expense | (58,089) | (57,011) | |||
Other | 6,065 | 6,544 | |||
Total Long-Term Debt | 7,303,669 | 6,805,768 | |||
Long-term Debt, Current Maturities | 320,002 | 2 | |||
Long-term Debt, Excluding Current Maturities | 6,983,667 | 6,805,766 | |||
Fair Value of Long-Term Debt | 7,961,168 | 6,834,134 | |||
Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Unamortized Premium and Discount - Net | (129) | (168) | |||
Unamortized Debt Issuance Expense | (7,775) | (8,140) | |||
Total Long-Term Debt | 560,906 | 483,704 | |||
Long-term Debt, Current Maturities | 25,000 | 0 | |||
Long-term Debt, Excluding Current Maturities | 521,539 | 467,358 | |||
Long Term Debt Excluding Amount Due Within One Year | 534,068 | 481,725 | |||
Fair Value of Long-Term Debt | 523,846 | 491,569 | |||
Long-term debt and notes payable related parties, current | 26,838 | ||||
Notes Payable, Related Parties, Current | 1,838 | 1,979 | |||
Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Unamortized Premium and Discount - Net | (4,814) | (992) | |||
Unamortized Debt Issuance Expense | (17,510) | (9,145) | |||
Other | 4,022 | 4,022 | |||
Total Long-Term Debt | 1,922,956 | 1,513,735 | |||
Long-term Debt, Current Maturities | 0 | 500,000 | |||
Long-term Debt, Excluding Current Maturities | 1,922,956 | 1,013,735 | |||
Fair Value of Long-Term Debt | 2,090,215 | 1,528,828 | |||
System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Unamortized Premium and Discount - Net | (144) | (328) | |||
Unamortized Debt Issuance Expense | (1,697) | (1,176) | |||
Other | 2 | 2 | |||
Total Long-Term Debt | 548,107 | 630,750 | |||
Long-term Debt, Current Maturities | 10 | 6 | |||
Long-term Debt, Excluding Current Maturities | 548,097 | 630,744 | |||
Fair Value of Long-Term Debt | $ 565,209 | 630,475 | |||
Mortgage Bonds Current 2018-2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted Average Interest Rate | 3.65% | ||||
Long-term Debt, Gross | $ 2,400,000 | $ 3,050,000 | |||
Mortgage Bonds Current 2018-2022 [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.55% | 2.55% | |||
Mortgage Bonds Current 2018-2022 [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.10% | 7.125% | |||
Mortgage Bonds 2023-2027 [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted Average Interest Rate | 3.59% | ||||
Long-term Debt, Gross | $ 4,610,000 | $ 4,610,000 | |||
Mortgage Bonds 2023-2027 [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.40% | 2.40% | |||
Mortgage Bonds 2023-2027 [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.59% | 5.59% | |||
Mortgage Bonds 2028-2031 [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted Average Interest Rate | 4.05% | ||||
Long-term Debt, Gross | $ 1,890,000 | $ 1,190,000 | |||
Mortgage Bonds 2028-2031 [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.05% | 3.05% | |||
Mortgage Bonds 2028-2031 [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.52% | 4.52% | |||
Mortgage Bonds 2044-2066 [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted Average Interest Rate | 4.63% | ||||
Long-term Debt, Gross | $ 5,170,000 | $ 3,560,000 | |||
Mortgage Bonds 2044-2066 [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.55% | 4.20% | |||
Mortgage Bonds 2044-2066 [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.625% | 5.625% | |||
Mortgage Bonds 2.40% Series Due October 2026 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.40% | 2.40% | |||
Long-term Debt, Gross | $ 400,000 | $ 400,000 | |||
Mortgage Bonds, 2.55% Series Due June 2021 [Member] | Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.55% | 2.55% | |||
Long-term Debt, Gross | $ 125,000 | $ 125,000 | |||
Mortgage Bonds 2.85% Series Due June 2028 [Member] | Entergy Mississippi [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.85% | 2.85% | |||
Long-term Debt, Gross | $ 375,000 | $ 375,000 | |||
Mortgage Bonds 4.52% Series Due December 2038 [Member] | Entergy Mississippi [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.52% | 0.00% | |||
Long-term Debt, Gross | $ 55,000 | $ 55,000 | |||
Mortgage bonds, 3.85% Series due June 2049 [Member] | Entergy Mississippi [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.85% | ||||
Long-term Debt, Gross | $ 435,000 | $ 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% | 3.05% | |||
Long-term Debt, Gross | $ 325,000 | $ 325,000 | |||
Mortgage Bonds 4.0% Series Due March 2033 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 0.00% | |||
Long-term Debt, Gross | $ 750,000 | $ 750,000 | |||
Mortgage Bonds, 3.05% Series, Due June 2023 [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.05% | 3.05% | |||
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |||
Mortgage Bonds, 3.1% Series, Due July 2023 [Member] | Entergy Mississippi [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.10% | 3.10% | |||
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |||
Mortgage Bonds, 3.12% Series, Due September 2027 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.12% | 0.00% | |||
Long-term Debt, Gross | $ 450,000 | $ 450,000 | |||
Mortgage Bonds, 3.25% Series, Due April 2028 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | 3.25% | |||
Long-term Debt, Gross | $ 425,000 | $ 425,000 | |||
Mortgage Bonds, 3.25% Series, Due December 2027 [Member] | Entergy Mississippi [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | 3.25% | |||
Long-term Debt, Gross | $ 150,000 | $ 150,000 | |||
Mortgage Bonds, 3.3% Series, Due December 2022 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.30% | 3.30% | |||
Long-term Debt, Gross | $ 200,000 | $ 200,000 | |||
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% | 3.50% | |||
Long-term Debt, Gross | $ 600,000 | $ 600,000 | |||
4.0% Series First Mortgage Bonds Due June 2028 [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% | |||
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |||
Mortgage Bonds, 3.75% Series, Due February 2021 [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% | |||
Long-term Debt, Gross | $ 350,000 | $ 350,000 | |||
Mortgage Bonds, 3.75% Series, Due July 2024 [Member] | Entergy Mississippi [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% | |||
Long-term Debt, Gross | $ 100,000 | $ 100,000 | |||
Mortgage Bonds 3.7% Series, Due June 2024 [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.70% | 3.70% | |||
Long-term Debt, Gross | $ 375,000 | $ 375,000 | |||
Mortgage Bonds, 3.78% Series, Due April 2025 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.78% | 3.78% | |||
Long-term Debt, Gross | $ 110,000 | $ 110,000 | |||
Mortgage Bonds, 3.78 % Series Due April 2025 (Legacy) [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.78% | 3.78% | |||
Long-term Debt, Gross | $ 190,000 | $ 190,000 | |||
Mortgage Bonds, 3.9% Series, Due July 2023 [Member] | Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.90% | 3.90% | |||
Long-term Debt, Gross | $ 100,000 | $ 100,000 | |||
Mortgage Bonds, 3.95% Series, Due October 2020 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.95% | 3.95% | |||
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |||
Mortgage Bonds, 4.0% Series, Due June 2026 [Member] | Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% | |||
Long-term Debt, Gross | $ 85,000 | $ 85,000 | |||
Mortgage Bonds, 4.51% Series Due September 2033 [Member] | Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.51% | 4.51% | |||
Long-term Debt, Gross | $ 60,000 | $ 60,000 | |||
Mortgage Bonds, 4.05% Series, Due September 2023 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.05% | 4.05% | |||
Long-term Debt, Gross | $ 325,000 | $ 325,000 | |||
Mortgage Bonds, Four Point Nine Zero Percent Series, Due October Two Thousand Sixty Six [Member] | Entergy Mississippi [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.90% | 4.90% | |||
Long-term Debt, Gross | $ 260,000 | $ 260,000 | |||
Mortgage Bonds, 4.1% Series, Due April 2023 [Member] | System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.10% | 4.10% | |||
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |||
Mortgage Bonds, 4.1% Series, Due September 2021 [Member] | Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.10% | 4.10% | |||
Long-term Debt, Gross | $ 75,000 | $ 75,000 | |||
Mortgage Bonds, Three Point Four Five Percent Series, Due December Two Thousand Twenty Seven [Member] | Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.45% | 3.45% | |||
Mortgage Bonds 3.45% Series Due December 2027 [Member] | Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | $ 150,000 | $ 150,000 | |||
4.0% Series First Mortgage Bonds Due March 2029 [Member] | Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | ||||
Long-term Debt, Gross | $ 300,000 | 0 | |||
4.50% Series First Mortgage Bonds Due March 2039 [Member] | Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | ||||
Long-term Debt, Gross | $ 400,000 | $ 0 | |||
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 | |||
Four Point Eight Seven Five Percent Series First Mortgage Bonds Due September Two Thousand Sixty Six [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | 4.875% | |||
Long-term Debt, Gross | $ 410,000 | $ 410,000 | |||
Four Point Eight Seven Five Percent Series First Mortgage Bonds Due September Two Thousand Sixty Six [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | 4.875% | |||
Long-term Debt, Gross | $ 270,000 | $ 270,000 | |||
Mortgage Bonds, 4.9% Series, Due December 2052 [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.90% | 4.90% | |||
Long-term Debt, Gross | $ 200,000 | $ 200,000 | |||
Mortgage Bonds, 4.95% Series, Due December 2044 [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.95% | 4.95% | |||
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |||
Mortgage Bonds Four Point Two Percent Series Due April 2049 [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.20% | ||||
Long-term Debt, Gross | $ 350,000 | $ 0 | |||
Mortgage Bonds, 4.95% Series, Due January 2045 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.95% | 4.95% | |||
Long-term Debt, Gross | $ 450,000 | $ 450,000 | |||
Mortgage Bonds, 4.2% Series, Due September 2048 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.20% | 0.00% | |||
Long-term Debt, Gross | $ 600,000 | $ 600,000 | |||
Mortgage Bonds, Four Point Two Zero Percent Series due April Twenty Fifty [Member] [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.20% | ||||
Long-term Debt, Gross | $ 525,000 | $ 0 | |||
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 3.55% Series Due September 2049 [Member] | Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.55% | ||||
Long-term Debt, Gross | $ 300,000 | $ 0 | |||
Mortgage Bonds, 5.10% Series, Due December 2020 [Member] | Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.10% | 5.10% | |||
Long-term Debt, Gross | $ 25,000 | $ 25,000 | |||
Mortgage Bonds, 5.25% Series, Due July 2052 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.25% | 5.25% | |||
Long-term Debt, Gross | $ 200,000 | $ 200,000 | |||
Mortgage Bonds, 5.40% Series, Due November 2024 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.40% | 5.40% | |||
Long-term Debt, Gross | $ 400,000 | $ 400,000 | |||
Mortgage Bonds, 5.5% Series, Due April 2066 [Member] | Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | 5.50% | |||
Long-term Debt, Gross | $ 110,000 | $ 110,000 | |||
Mortgage Bonds, 5.625% Series, Due June 2064 [Member] | Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.625% | 5.625% | |||
Long-term Debt, Gross | $ 135,000 | $ 135,000 | |||
Mortgage Bonds, 5.59% Series, Due October 2024 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.59% | 5.59% | |||
Long-term Debt, Gross | $ 300,000 | $ 300,000 | |||
Mortgage Bonds, 6.64% 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 | $ 0 | $ 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% | ||||
Long-term Debt, Gross | 0 | $ 500,000 | |||
Mortgage Bonds [Member] | Entergy Mississippi [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 1,625,000 | 1,340,000 | |||
Mortgage Bonds [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 3,160,000 | 2,810,000 | |||
Mortgage Bonds [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 6,890,000 | 6,365,000 | |||
Mortgage Bonds [Member] | Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 410,000 | 410,000 | |||
Mortgage Bonds [Member] | Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 1,735,000 | 1,235,000 | |||
Mortgage Bonds [Member] | System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | $ 250,000 | $ 250,000 | |||
Governmental Bonds 2017-2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted Average Interest Rate | 2.48% | ||||
Debt Instrument, Interest Rate, Stated Percentage | 2.375% | ||||
Long-term Debt, Gross | $ 179,000 | $ 179,000 | |||
Governmental Bonds 2017-2022 [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.375% | ||||
Governmental Bonds 2017-2022 [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | 5.875% | |||
Governmental Bonds 2028-2030 [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted Average Interest Rate | 3.45% | ||||
Long-term Debt, Gross | $ 198,680 | $ 198,680 | |||
Governmental Bonds 2028-2030 [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | 3.375% | |||
Governmental Bonds 2028-2030 [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | 3.50% | |||
Governmental Bonds Two Point Three Seven Five Percent Series Due Two Thousand Twenty One Independence County [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | [1],[2] | $ 45,000 | $ 45,000 | ||
Governmental Bonds Two Point Three Seven Five Percent Series Due Two Thousand Twenty One Independence County [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.375% | 2.375% | |||
Governmental Bonds, 3.50% Series, Due 2030, Louisiana Public Facilities Authority [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | 3.50% | |||
Long-term Debt, Gross | [1],[2] | $ 115,000 | $ 115,000 | ||
Governmental Bonds, 5.875% Series, Due 2022, Mississippi Business Finance Corp. [Member] | System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.875% | ||||
Long-term Debt, Gross | [1] | $ 0 | $ 134,000 | ||
Governmental Bonds 2.5% Percent Series Due 2022 Mississippi Business Finance Corporation [Member] | System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | ||||
Long-term Debt, Gross | [1] | $ 134,000 | $ 0 | ||
Governmental Bonds, 3.375% Series, Due 2028, Louisiana Public Facilities Authority [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | 3.375% | |||
Long-term Debt, Gross | [1],[2] | $ 83,680 | $ 83,680 | ||
Governmental Bonds [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | [1] | 45,000 | 45,000 | ||
Governmental Bonds [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | [1] | 198,680 | 198,680 | ||
Governmental Bonds [Member] | System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | [1] | $ 134,000 | 134,000 | ||
Securitization Bonds 2018-2027 [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted Average Interest Rate | 3.73% | ||||
Long-term Debt, Gross | $ 302,145 | $ 429,118 | |||
Securitization Bonds 2018-2027 [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.04% | 2.04% | |||
Securitization Bonds 2018-2027 [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.93% | 5.93% | |||
VIE Notes Payable 2017-2023 [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted Average Interest Rate | 3.41% | ||||
Long-term Debt, Gross | $ 360,000 | $ 360,000 | |||
VIE Notes Payable 2017-2023 [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.17% | 3.17% | |||
VIE Notes Payable 2017-2023 [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.92% | 3.92% | |||
Variable Interest Entity Notes Payable, 3.17% Series M, Due December 2023 [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.17% | 3.17% | |||
Long-term Debt, Gross | $ 40,000 | $ 40,000 | |||
Variable Interest Entity Notes Payable, 3.22 % Series I, Due December 2023 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.22% | 3.22% | |||
Long-term Debt, Gross | $ 20,000 | $ 20,000 | |||
Credit Facility due September 2021, weighted avg rate 3.23% [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.23% | 3.23% | |||
Long-term Debt, Gross | $ 70,300 | $ 38,600 | |||
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, 3.42% Series J Due April 2021 [Member] | System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.42% | 3.42% | |||
Long-term Debt, Gross | $ 100,000 | $ 100,000 | |||
Credit Facility due May 2019, weighted avg rate 2.87% [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.33% | 3.33% | |||
Long-term Debt, Gross | $ 15,100 | $ 59,600 | |||
Credit Facility due September 2021, weighted avg rate 3.30% [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.30% | 3.30% | |||
Long-term Debt, Gross | $ 49,900 | $ 82,000 | |||
Credit Facility due September 2021, weighted avg rate 3.23% [Member] | System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.34% | ||||
Long-term Debt, Gross | $ 31,600 | $ 113,900 | |||
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 [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 145,100 | 189,600 | |||
Variable Interest Entity Notes Payable [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 250,200 | 250,600 | |||
Variable Interest Entity Notes Payable [Member] | System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | $ 131,600 | $ 213,900 | |||
Securitization Bonds, 2.04% Series Senior Secured, Due September 2023 [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.04% | 2.04% | 2.04% | ||
Long-term Debt, Gross | $ 34,185 | $ 56,910 | |||
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% | ||
Long-term Debt, Gross | $ 7,259 | $ 21,692 | |||
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 | $ 54,443 | $ 65,666 | |||
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 | $ 155,969 | $ 203,613 | |||
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 | $ 50,289 | $ 81,237 | |||
Securitization Bonds [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 7,259 | 21,692 | |||
Securitization Bonds [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 34,185 | 56,910 | |||
Securitization Bonds [Member] | Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 54,443 | 65,666 | |||
Securitization Bonds [Member] | Entergy Texas [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | $ 206,258 | $ 284,850 | |||
3.0% Unsecured Term Loan due May 2022 [Member] | Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | 0.00% | |||
Long-term Debt, Gross | $ 70,000 | $ 0 | |||
Entergy Corporation Notes Due September 2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.125% | 5.125% | |||
Long-term Debt, Gross | $ 450,000 | $ 450,000 | |||
Entergy Corporation Notes Due July Two Thousand Twenty Two [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% | |||
Long-term Debt, Gross | $ 650,000 | $ 650,000 | |||
Entergy Corporation Notes Due September Two Thousand Twenty Six [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.95% | 2.95% | |||
Long-term Debt, Gross | $ 750,000 | $ 750,000 | |||
Vermont Yankee Credit Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.93% | 3.50% | |||
Long-term Debt, Gross | $ 139,000 | $ 139,000 | |||
5 Year Credit Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.77% | 3.60% | |||
Long-term Debt, Gross | $ 440,000 | $ 220,000 | |||
Entergy Arkansas VIE Credit Facility [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.33% | 3.48% | |||
Long-term Debt, Gross | $ 15,100 | $ 59,600 | |||
Entergy Louisiana River Bend VIE Credit Facility [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.23% | 3.44% | |||
Long-term Debt, Gross | $ 70,300 | $ 38,600 | |||
Entergy Louisiana Waterford VIE Credit Facility [Member] | Entergy Louisiana [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.30% | 3.35% | |||
Long-term Debt, Gross | $ 49,900 | $ 82,000 | |||
System Energy VIE Credit Facility [Member] | System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.34% | 3.44% | |||
Long-term Debt, Gross | $ 31,600 | $ 113,900 | |||
Long-Term DOE Obligation [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 191,114 | 186,864 | |||
Long-Term DOE Obligation [Member] | Entergy Arkansas [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | [3] | 191,114 | 186,864 | ||
Grand Gulf Lease Obligation [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 34,346 | 34,352 | |||
Grand Gulf Lease Obligation, 5.13% [Member] | System Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | 34,346 | 34,352 | |||
Payable to Entergy Louisiana due November 2035 [Member] | Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | $ 14,367 | $ 16,346 | |||
Credit Facility due November 2021, weighted avg rate 2.92% [Member] | Entergy New Orleans [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.92% | 0.00% | |||
Long-term Debt, Gross | $ 20,000 | $ 0 | |||
[1] | (a) Consists of pollution control revenue bonds and environmental revenue bonds. | ||||
[2] | (c) The bonds are secured by a series of collateral mortgage bonds. | ||||
[3] | (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. |
Long - Term Debt (Schedule Of M
Long - Term Debt (Schedule Of Maturities Of Long-term Debt) (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Year One | $ 795,000 |
Year Two | 1,358,159 |
Year Three | 1,104,289 |
Year Four | 1,865,154 |
Year Five | 1,175,000 |
Entergy Arkansas [Member] | |
Year One | 0 |
Year Two | 507,359 |
Year Three | 0 |
Year Four | 290,000 |
Year Five | 375,000 |
Entergy Louisiana [Member] | |
Year One | 320,000 |
Year Two | 360,200 |
Year Three | 200,000 |
Year Four | 379,185 |
Year Five | 700,000 |
Entergy Mississippi [Member] | |
Year One | 0 |
Year Two | 0 |
Year Three | 0 |
Year Four | 250,000 |
Year Five | 100,000 |
Entergy New Orleans [Member] | |
Year One | 25,000 |
Year Two | 20,000 |
Year Three | 70,000 |
Year Four | 100,000 |
Year Five | 0 |
Entergy Texas [Member] | |
Year One | 0 |
Year Two | 200,000 |
Year Three | 50,289 |
Year Four | 155,969 |
Year Five | 0 |
System Energy [Member] | |
Year One | 0 |
Year Two | 131,600 |
Year Three | 134,000 |
Year Four | 250,000 |
Year Five | $ 0 |
Long - Term Debt (Schedule Of S
Long - Term Debt (Schedule Of Senior Secured Transition Bonds) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Nov. 30, 2009 | Jun. 30, 2007 |
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 297,981 | $ 423,858 | ||
Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | 205,349 | 283,659 | ||
Hurricane Rita [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 329,500 | |||
Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 545,900 | |||
Securitization Bonds, 5.93% Series Senior Secured, Series A, Due June 2022 [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 50,289 | 81,237 | ||
Securitization Bonds, 4.38% Series Senior Secured, Due November 2023 [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | $ 155,969 | $ 203,613 |
Long - Term Debt Present Value
Long - Term Debt Present Value of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Year One | $ 795,000 | ||
Year Two | 1,358,159 | ||
Year Three | 1,104,289 | ||
Year Four | 1,865,154 | ||
Year Five | 1,175,000 | ||
Long-term Debt, Fair Value | 19,059,950 | $ 16,101,455 | |
Interest Expense, Debt | 807,382 | 768,322 | $ 707,212 |
Total Long-Term Debt | 17,873,655 | 16,168,312 | |
System Energy [Member] | |||
Year One | 0 | ||
Year Two | 131,600 | ||
Year Three | 134,000 | ||
Year Four | 250,000 | ||
Year Five | 0 | ||
Long-term Debt, Fair Value | 565,209 | 630,475 | |
Interest Expense, Debt | 35,328 | 38,424 | $ 37,141 |
Total Long-Term Debt | 548,107 | 630,750 | |
Grand Gulf [Member] | System Energy [Member] | |||
Year One | 17,188 | 17,188 | |
Year Two | 17,188 | 17,188 | |
Year Three | 17,188 | 17,188 | |
Year Four | 17,188 | 17,188 | |
Year Five | 17,188 | 17,188 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 206,250 | 223,437 | |
Long-term Debt, Fair Value | 292,190 | 309,377 | |
Interest Expense, Debt | 257,844 | 275,025 | |
Total Long-Term Debt | $ 34,346 | $ 34,352 |
Preferred Equity (Narratives) (
Preferred Equity (Narratives) (Details) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2019 | Nov. 30, 2018 | Nov. 30, 2017 | Oct. 31, 2015 | Dec. 31, 2013 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Preferred Equity [Line Items] | |||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 50,000,000 | $ 53,868,000 | $ 20,599,000 | ||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | 7,000 | 728,000 | |||||||
Entergy Arkansas [Member] | |||||||||
Preferred Equity [Line Items] | |||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 0 | $ 32,660,000 | 0 | ||||||
Entergy Texas [Member] | |||||||||
Preferred Equity [Line Items] | |||||||||
Preferred Units, Authorized | 1,400,000 | 0 | |||||||
Entergy Mississippi [Member] | |||||||||
Preferred Equity [Line Items] | |||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 0 | $ 21,208,000 | 0 | ||||||
Entergy New Orleans [Member] | |||||||||
Preferred Equity [Line Items] | |||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 0 | $ 0 | $ 20,599,000 | ||||||
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% | |||||||
Preferred Stock, Shares Authorized | 250,000 | 250,000 | 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 $1,000 Par Value 6.75% Series [Domain] | Entergy Utility Holding Company LLC [Member] | |||||||||
Preferred Equity [Line Items] | |||||||||
Preferred stock/preferred membership interests rate | 6.75% | 6.75% | |||||||
Temporary Equity, Par Value | $ 1,000 | ||||||||
Temporary Equity, Redemption Price Per Share | $ 1,000 | ||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 1,630,000 | ||||||||
Preferred Units, Authorized | 75,000 | 75,000 | 75,000 | ||||||
Preferred Stock, Cumulative One Thousand Dollar Par Value, Seven Point Five Percent Series [Member] | Entergy Utility Holding Company LLC [Member] | |||||||||
Preferred Equity [Line Items] | |||||||||
Preferred stock/preferred membership interests rate | 7.50% | 7.50% | |||||||
Temporary Equity, Par Value | $ 1,000 | ||||||||
Temporary Equity, Redemption Price Per Share | $ 1,000 | ||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 2,575,000 | ||||||||
Preferred Units, Authorized | 110,000 | 110,000 | 110,000 | ||||||
Preferred Stock, Cumulative $1,000 Par Value 6.25% Series [Domain] | Entergy Utility Holding Company LLC [Member] | |||||||||
Preferred Equity [Line Items] | |||||||||
Preferred stock/preferred membership interests rate | 6.25% | 6.25% | |||||||
Temporary Equity, Par Value | $ 1,000 | ||||||||
Temporary Equity, Redemption Price Per Share | $ 1,000 | ||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 634,000 | ||||||||
Preferred Units, Authorized | 15,000 | 15,000 | 15,000 | ||||||
Preferred Stock, Five Point Three Seven Five Percent, Series A [Member] [Domain] | Entergy Texas [Member] | |||||||||
Preferred Equity [Line Items] | |||||||||
Preferred stock/preferred membership interests rate | 5.375% | ||||||||
Preferred Stock, Shares Authorized | 1,400,000 | 1,400,000 | |||||||
Preferred Stock, Five Point Three Seven Five Percent, Series A [Member] | Entergy Texas [Member] | |||||||||
Preferred Equity [Line Items] | |||||||||
Preferred Stock, Value, Issued | $ 35,000,000 | $ 35,000,000 | |||||||
Preferred stock/preferred membership interests rate | 5.375% | ||||||||
Preferred Units, Authorized | 1,400,000 | 0 | |||||||
Preferred Stock, Liquidation Preference Per Share | $ 25 | $ 25 | $ 25 |
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 | 9 Months Ended | 12 Months Ended | ||||||
Nov. 30, 2018 | Nov. 30, 2017 | Oct. 31, 2015 | Dec. 31, 2013 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Payments for Repurchase of Preferred Stock and Preference Stock | $ 50,000 | $ 53,868 | $ 20,599 | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 10,258,675 | 8,844,305 | |||||||
Temporary Equity, Carrying Amount, Attributable to Parent | 219,410 | 219,402 | |||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | 7 | 728 | |||||||
Entergy Louisiana [Member] | |||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 6,397,118 | 5,902,918 | 5,308,804 | $ 5,081,809 | |||||
Entergy Texas [Member] | |||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,799,407 | 1,422,402 | 1,260,167 | 1,068,994 | |||||
Temporary Equity, Carrying Amount, Attributable to Parent | $ 35,000 | $ 0 | |||||||
Preferred Units, Authorized | 1,400,000 | 0 | |||||||
Entergy Mississippi [Member] | |||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 0 | $ 21,208 | 0 | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,542,151 | 1,292,226 | 1,177,870 | 1,094,791 | |||||
Entergy New Orleans [Member] | |||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | 20,599 | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 497,579 | $ 444,950 | $ 415,548 | $ 426,946 | |||||
Entergy Corporation [Member] | |||||||||
Preferred Stock, Shares Authorized | 1,850,000 | 450,000 | |||||||
Temporary Equity, Shares Outstanding | 1,850,000 | 450,000 | |||||||
Temporary Equity, Carrying Amount, Attributable to Parent | $ 254,410 | $ 219,402 | |||||||
Utility [Member] | |||||||||
Preferred Shares/Units, Outstanding | 1,600,000 | 200,000 | |||||||
Temporary Equity, Carrying Amount, Attributable to Parent | $ 230,161 | $ 195,153 | |||||||
Preferred Units, Authorized | 1,600,000 | 200,000 | |||||||
Preferred Stock, 8.75% Rate [Member] | Entergy Finance Holding Inc [Member] | |||||||||
Preferred Stock, Shares Authorized | 250,000 | 250,000 | 250,000 | ||||||
Temporary Equity, Shares Outstanding | 250,000 | 250,000 | |||||||
Temporary Equity, Carrying Amount, Attributable to Parent | $ 24,249 | $ 24,249 | |||||||
Preferred stock/preferred membership interests rate | 8.75% | 8.75% | |||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 751 | ||||||||
Preferred Stock, Cumulative One Thousand Dollar Par Value, Seven Point Five Percent Series [Member] | Entergy Utility Holding Company LLC [Member] | |||||||||
Preferred Shares/Units, Outstanding | 110,000 | 110,000 | |||||||
Temporary Equity, Carrying Amount, Attributable to Parent | $ 107,425 | $ 107,425 | |||||||
Preferred Units, Authorized | 110,000 | 110,000 | 110,000 | ||||||
Preferred stock/preferred membership interests rate | 7.50% | 7.50% | |||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 2,575 | ||||||||
Preferred Stock, Cumulative $1,000 Par Value 6.25% Series [Domain] | Entergy Utility Holding Company LLC [Member] | |||||||||
Preferred Shares/Units, Outstanding | 15,000 | 15,000 | |||||||
Temporary Equity, Carrying Amount, Attributable to Parent | $ 14,366 | $ 14,366 | |||||||
Preferred Units, Authorized | 15,000 | 15,000 | 15,000 | ||||||
Preferred stock/preferred membership interests rate | 6.25% | 6.25% | |||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 634 | ||||||||
Preferred Stock, Cumulative $1,000 Par Value 6.75% Series [Domain] | Entergy Utility Holding Company LLC [Member] | |||||||||
Preferred Shares/Units, Outstanding | 75,000 | 75,000 | |||||||
Temporary Equity, Carrying Amount, Attributable to Parent | $ 73,370 | $ 73,362 | |||||||
Preferred Units, Authorized | 75,000 | 75,000 | 75,000 | ||||||
Preferred stock/preferred membership interests rate | 6.75% | 6.75% | |||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 1,630 | ||||||||
Preferred Stock, Five Point Three Seven Five Percent, Series A [Member] | Entergy Texas [Member] | |||||||||
Preferred Shares/Units, Outstanding | 1,400,000 | 0 | |||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 35,000 | $ 0 | |||||||
Preferred Units, Authorized | 1,400,000 | 0 | |||||||
Preferred Stock, Five Point Three Seven Five Percent, Series A [Member] | Entergy Texas [Member] | |||||||||
Preferred Stock, Call Price per Share | $ 0 | ||||||||
Preferred Shares/Units, Outstanding | 1,400,000 | 0 | |||||||
Preferred Stock, Liquidation Preference Per Share | $ 25 | $ 25 | |||||||
Temporary Equity, Carrying Amount, Attributable to Parent | $ 35,000 | $ 0 | |||||||
Preferred Units, Authorized | 1,400,000 | 0 | |||||||
Preferred stock/preferred membership interests rate | 5.375% | ||||||||
Preferred Stock, Value, Issued | $ 35,000 |
Common Equity (Narrative) (Deta
Common Equity (Narrative) (Details) $ / shares in Units, $ in Thousands | Dec. 12, 2018USD ($)shares | May 31, 2019USD ($)$ / sharesshares | Jun. 30, 2018$ / sharesshares | Oct. 31, 2010USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2019USD ($)plan$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Jan. 01, 2019USD ($) | Jan. 01, 2018USD ($) |
Number of equity ownership plans | plan | 4 | |||||||||
Authorization of repurchase of common stock | $ 500,000 | $ 350,000 | ||||||||
Common Stock, Dividends, Per Share, Declared | $ / shares | $ 3.66 | $ 3.58 | $ 3.50 | |||||||
Dividend payments received from subsidiaries | $ 124,000 | $ 27,000 | $ 201,000 | |||||||
Dividends, Common Stock, Cash | 711,573 | 647,704 | 628,885 | |||||||
Forward Contract Indexed to Issuer's Equity, Indexed Shares | shares | 8,448,171 | 15,300,000 | ||||||||
Forward Contract Indexed to Issuer's Equity, Forward Rate Per Share | $ / shares | $ 74.45 | $ 74.45 | ||||||||
Payments of Stock Issuance Costs | $ 728 | $ 7 | ||||||||
Proceeds from Issuance of Common Stock | $ 500,000 | $ 608,000 | 607,650 | 499,272 | 0 | |||||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | $ (6,806) | $ (632,617) | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | (56,360) | ||||||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | $ 15,500 | 15,505 | ||||||||
Tax Cuts and Jobs Act, Portion Reclassified from AOCI to Retained Earnings | 32,000 | |||||||||
Tax Cuts and Jobs Act, Portion Reclassified from AOCI to Regulatory Liability for Income Taxes | $ 16,500 | |||||||||
Entergy Arkansas [Member] | ||||||||||
Dividends, Common Stock, Cash | 115,000 | 91,751 | 15,000 | |||||||
Entergy Mississippi [Member] | ||||||||||
Dividends, Common Stock, Cash | 10,000 | 26,000 | ||||||||
System Energy [Member] | ||||||||||
Dividends, Common Stock, Cash | 124,250 | 67,720 | 106,610 | |||||||
Entergy New Orleans [Member] | ||||||||||
Dividends, Common Stock, Cash | 23,750 | 74,250 | ||||||||
Common Stock [Member] | ||||||||||
Dividends, Common Stock, Cash | $ 0 | $ 0 | $ 0 | |||||||
Forward Contract Indexed to Issuer's Equity, Shares | shares | 6,834,221 | 8,448,171 | 6,834,221 | 0 | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | $ 0 | ||||||||
Common Stock [Member] | System Energy [Member] | ||||||||||
Dividends, Common Stock, Cash | $ 0 | $ 56,500 | $ 21,000 | |||||||
Accounting Standards Update 2017-08 [Member] | ||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 1,000 | |||||||||
Accounting Standards Update 2017-12 [Member] | ||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 8,000 |
Common Equity (Common Stock And
Common Equity (Common Stock And Treasury Stock Shares Activity) (Details) - USD ($) $ in Thousands | Dec. 12, 2018 | May 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Class of Stock and Treasury Stock [Line Items] | |||||
Proceeds from Issuance of Common Stock | $ 500,000 | $ 608,000 | $ 607,650 | $ 499,272 | $ 0 |
Common Stock [Member] | |||||
Common Stock And Treasury Stock [Roll Forward] | |||||
Beginning Balance | 261,587,009 | 254,752,788 | 254,752,788 | ||
Forward Contract Indexed to Issuer's Equity, Shares | 6,834,221 | 8,448,171 | 6,834,221 | 0 | |
Ending Balance | 270,035,180 | 261,587,009 | 254,752,788 | ||
Treasury Stock [Member] | |||||
Common Stock And Treasury Stock [Roll Forward] | |||||
Beginning Balance | 72,530,866 | 74,235,135 | 75,623,363 | ||
Employee Stock-Based Compensation Plans | (1,624,358) | (1,683,174) | (1,377,363) | ||
Directors' Plan | (20,108) | (21,095) | (10,865) | ||
Ending Balance | 70,886,400 | 72,530,866 | 74,235,135 |
Common Equity (Changes in Accum
Common Equity (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | Jan. 01, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Net other comprehensive income (loss) for the period | $ 117,059 | $ 83,470 | $ 11,440 | |||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | $ 15,500 | 15,505 | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | (13,306) | 135,275 | ||||
Other comprehensive income (loss) before reclassifications | 130,365 | (51,805) | ||||
Accumulated other comprehensive loss, Beginning Balance | (446,920) | (557,173) | (23,531) | |||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | $ (6,806) | $ (632,617) | ||||
Cash flow hedges net unrealized gain (loss) [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Net other comprehensive income (loss) for the period | 115,026 | 22,098 | ||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | (7,756) | |||||
Amounts reclassified from accumulated other comprehensive income (loss) | (76,121) | 54,031 | ||||
Other comprehensive income (loss) before reclassifications | 191,147 | (31,933) | ||||
Accumulated other comprehensive loss, Beginning Balance | 84,206 | (23,135) | (37,477) | |||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | (7,685) | 0 | ||||
Pension and other postretirement liabilities [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Net other comprehensive income (loss) for the period | (25,150) | 90,143 | ||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | (90,966) | |||||
Amounts reclassified from accumulated other comprehensive income (loss) | 68,546 | 63,441 | ||||
Other comprehensive income (loss) before reclassifications | (93,696) | 26,702 | ||||
Accumulated other comprehensive loss, Beginning Balance | (557,072) | (531,922) | (531,099) | |||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | 0 | 0 | ||||
Net unrealized investment gains [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Net other comprehensive income (loss) for the period | 27,183 | (28,771) | ||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | 114,227 | |||||
Amounts reclassified from accumulated other comprehensive income (loss) | (5,731) | 17,803 | ||||
Other comprehensive income (loss) before reclassifications | 32,914 | (46,574) | ||||
Accumulated other comprehensive loss, Beginning Balance | 25,946 | (2,116) | 545,045 | |||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | 879 | (632,617) | ||||
Entergy Louisiana [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Net other comprehensive income (loss) for the period | 10,715 | 50,296 | 2,042 | |||
Accumulated other comprehensive loss, Beginning Balance | 4,562 | (6,153) | ||||
Entergy Louisiana [Member] | Pension and other postretirement liabilities [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Net other comprehensive income (loss) for the period | 10,715 | 50,296 | ||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | (10,049) | |||||
Amounts reclassified from accumulated other comprehensive income (loss) | (3,876) | (2,003) | ||||
Other comprehensive income (loss) before reclassifications | 14,591 | 52,299 | ||||
Accumulated other comprehensive loss, Beginning Balance | $ 4,562 | $ (6,153) | $ (46,400) | |||
Restatement Adjustment [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated other comprehensive loss, Beginning Balance | (563,979) | (656,148) | ||||
Restatement Adjustment [Member] | Cash flow hedges net unrealized gain (loss) [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated other comprehensive loss, Beginning Balance | (30,820) | (37,477) | ||||
Restatement Adjustment [Member] | Pension and other postretirement liabilities [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated other comprehensive loss, Beginning Balance | (531,922) | (531,099) | ||||
Restatement Adjustment [Member] | Net unrealized investment gains [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated other comprehensive loss, Beginning Balance | $ (1,237) | $ (87,572) |
Common Equity (Reclassification
Common Equity (Reclassifications from Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Miscellaneous - net | $ (252,539) | $ (129,754) | $ (113,426) | ||||||||
Total reclassifications before taxes | 1,088,419 | (174,271) | 967,923 | ||||||||
Investment Income, Net | 547,912 | 63,864 | 288,197 | ||||||||
Income Tax Expense (Benefit) | (169,825) | (1,036,826) | 542,570 | ||||||||
Consolidated net income | $ 389,606 | $ 369,459 | $ 240,533 | $ 258,646 | $ (62,323) | $ 539,818 | $ 248,860 | $ 136,200 | 1,258,244 | 862,555 | 425,353 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Consolidated net income | 13,306 | (135,275) | |||||||||
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 | 96,355 | (68,394) | |||||||||
Income Tax Expense (Benefit) | 20,234 | (14,363) | |||||||||
Consolidated net income | 76,121 | (54,031) | |||||||||
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 | (87,101) | (80,693) | |||||||||
Amortization of prior service cost/(credit) | 21,300 | 21,700 | |||||||||
Amortization of net loss | (83,246) | (99,186) | |||||||||
Settlement loss | (25,155) | (3,207) | |||||||||
Income Tax Expense (Benefit) | (18,555) | (17,252) | |||||||||
Consolidated net income | (68,546) | (63,441) | |||||||||
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 | 9,069 | (28,170) | |||||||||
Income Tax Expense (Benefit) | 3,338 | (10,367) | |||||||||
Consolidated net income | 5,731 | (17,803) | |||||||||
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 | 96,549 | (68,067) | |||||||||
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 | (194) | (327) | |||||||||
Entergy Louisiana [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Miscellaneous - net | (115,427) | (27,530) | (39,756) | ||||||||
Total reclassifications before taxes | 813,160 | 621,003 | 801,645 | ||||||||
Investment Income, Net | 231,985 | 141,882 | 164,550 | ||||||||
Income Tax Expense (Benefit) | 121,623 | (54,611) | 485,298 | ||||||||
Consolidated net income | $ 125,560 | $ 255,260 | $ 183,084 | $ 127,633 | $ 161,355 | $ 218,308 | $ 184,358 | $ 111,593 | 691,537 | 675,614 | $ 316,347 |
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] | |||||||||||
Amortization of prior service credit | 7,349 | 7,735 | |||||||||
Total reclassifications before taxes | 5,243 | 2,710 | |||||||||
Defined Benefit Plan, Amortization of Gain (Loss) | (2,106) | (5,025) | |||||||||
Income Tax Expense (Benefit) | 1,367 | 707 | |||||||||
Consolidated net income | $ 3,876 | $ 2,003 |
Commitments And Contingencies_2
Commitments And Contingencies (Narrative) (Details) | Jan. 01, 2018 | Jan. 31, 2020USD ($) | Dec. 31, 2019USD ($)claim | Aug. 31, 2019USD ($) | Oct. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 31, 2017USD ($) | Oct. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Oct. 31, 2015USD ($) | Feb. 28, 2014USD ($) | Nov. 30, 2013USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($)programclaimreactor | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2026USD ($) | Oct. 01, 2012USD ($) |
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 | $ 7,040,000 | $ 18,270,000 | $ 26,157,000 | |||||||||||||||||||
Number of financial protection programs | program | 2 | |||||||||||||||||||||
Insurance coverage for public liability by American Nuclear Insurers | $ 450,000,000 | $ 450,000,000 | ||||||||||||||||||||
Maximum retrospective insurance premium obligation per reactor per incident | 137,600,000 | 137,600,000 | ||||||||||||||||||||
Maximum retrospective insurance premium obligation per incident | 1,101,000,000 | 1,101,000,000 | ||||||||||||||||||||
Rate of maximum retrospective premium per year per nuclear power reactor | $ 21,000,000 | 21,000,000 | ||||||||||||||||||||
ANI combined with Secondary Financial Protection Coverage | 14,000,000,000 | |||||||||||||||||||||
Additional damage coverage for a terrorist event | $ 100,000,000,000 | |||||||||||||||||||||
Number of nuclear reactor included in the Secondary Financial Protection program | reactor | 98 | |||||||||||||||||||||
Total premium for reactor under secondary financial protection program | $ 14,000,000,000 | |||||||||||||||||||||
Maximum recovery nuclear insurance policies for property damage caused by Terrorist Act | 3,240,000,000 | |||||||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 400,000,000 | |||||||||||||||||||||
Minimum value of power plants, substations to be covered under conventional property insurance | 5,000,000 | |||||||||||||||||||||
Purchase of terrorism insurance coverage | $ 300,000,000 | |||||||||||||||||||||
Reduction in fee Entergy’s nuclear owner/licensee subsidiaries have been charged related to spent nuclear fuel storage | $ 0 | |||||||||||||||||||||
Percentage of Weekly Indemnity Paid After Deductible Second Period has Passed | 80.00% | |||||||||||||||||||||
Accidental Outage Coverage Weekly Indemnity Second Payment Period | 364 days | |||||||||||||||||||||
Percentage of Weekly Indemnity Paid After Deductible Final Period has Passed | 80.00% | |||||||||||||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 35.00% | |||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (14,781,000) | $ (803,323,000) | $ 2,915,795,000 | |||||||||||||||||||
Percentage of Weekly Indemnity Paid After Deductible First Period has Passed | 100.00% | |||||||||||||||||||||
Grand Gulf [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Ownership percentage by a non-affiliated company | 10.00% | |||||||||||||||||||||
Operational Perils [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Self-insured retention per occurrence | $ 20,000,000 | |||||||||||||||||||||
Earthquake and Flood [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 400,000,000 | |||||||||||||||||||||
Self-insured retention per occurrence | 40,000,000 | |||||||||||||||||||||
Named Windstorm and Associated Storm Surge [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 125,000,000 | |||||||||||||||||||||
Self-insured retention per occurrence | 40,000,000 | |||||||||||||||||||||
Non-Nuclear and Non-Radioactive Damage [Member] | Pilgrim, Palisades, and Indian Point [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | |||||||||||||||||||||
Wind and Flood [Member] | Indian Point [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Property Insurance Deductible | $ 10,000,000 | |||||||||||||||||||||
Percentage of Additional Property Insurance Deductible for Loss in Excess of Deductible | 10.00% | |||||||||||||||||||||
Maximum Additional Property Insurance Deductible | $ 50,000,000 | |||||||||||||||||||||
Earthquake and Volcanic Eruption [Member] | Indian Point [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | |||||||||||||||||||||
Wind, Flood, Earthquake and Volcanic Eruption [Member] | Palisades [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Property Insurance Deductible | $ 10,000,000 | |||||||||||||||||||||
Percentage of Additional Property Insurance Deductible for Loss in Excess of Deductible | 10.00% | |||||||||||||||||||||
Maximum Additional Property Insurance Deductible | $ 50,000,000 | |||||||||||||||||||||
Wind, Flood, Earthquake and Volcanic Eruption [Member] | Big Rock Point [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Maximum Additional Property Insurance Deductible | 14,000,000 | |||||||||||||||||||||
Flood event [Member] | ANO and Grand Gulf [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | $ 500,000,000 | |||||||||||||||||||||
Utility [Member] | Asbestos Issue [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Number of asbestos lawsuits | claim | 200 | 200 | ||||||||||||||||||||
Number of claimants in asbestos lawsuits | claim | 400 | |||||||||||||||||||||
Utility [Member] | Primary Layer [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Property Insurance insured amount per occurrence | $ 1,500,000,000 | $ 1,500,000,000 | ||||||||||||||||||||
Utility [Member] | Blanket Layer [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Property Insurance insured amount per occurrence | 100,000,000 | 100,000,000 | ||||||||||||||||||||
Utility [Member] | Earthquake and Volcanic Eruption [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | |||||||||||||||||||||
Utility [Member] | Flood event [Member] | River Bend and Waterford 3 [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Property Insurance Deductible | $ 10,000,000 | |||||||||||||||||||||
Percentage of Additional Property Insurance Deductible for Loss in Excess of Deductible | 10.00% | |||||||||||||||||||||
Maximum Additional Property Insurance Deductible | $ 50,000,000 | |||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Palisades [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Property Insurance insured amount per occurrence | 1,115,000,000 | 1,115,000,000 | ||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Big Rock Point [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Property Insurance insured amount per occurrence | 50,000,000 | 50,000,000 | ||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Indian Point [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Property Insurance insured amount per occurrence | 1,600,000,000 | 1,600,000,000 | ||||||||||||||||||||
Nuclear [Member] | Wind [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Property Insurance Deductible | $ 10,000,000 | |||||||||||||||||||||
Percentage of Additional Property Insurance Deductible for Loss in Excess of Deductible | 10.00% | |||||||||||||||||||||
Maximum Additional Property Insurance Deductible | $ 50,000,000 | |||||||||||||||||||||
Entergy Mississippi [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 33.00% | |||||||||||||||||||||
Average monthly payments under unit power sales agreement | $ 15,500,000 | |||||||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 31.30% | |||||||||||||||||||||
Amortization period of cost | 27 years | |||||||||||||||||||||
Allocated amortization cost in percentage | 43.97% | |||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (21,524,000) | (131,856,000) | 405,395,000 | |||||||||||||||||||
Entergy Texas [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Proceeds from insurance | 0 | 0 | 2,431,000 | |||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (105,517,000) | (19,336,000) | 410,968,000 | |||||||||||||||||||
System Energy [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Number of nuclear power reactors | reactor | 1 | |||||||||||||||||||||
Reduction of previously recorded deprecation expense | $ 26,000,000 | |||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 130,949,000 | (156,802,000) | 331,251,000 | |||||||||||||||||||
Entergy New Orleans [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 17.00% | |||||||||||||||||||||
Average monthly payments under unit power sales agreement | $ 8,500,000 | |||||||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 24.70% | |||||||||||||||||||||
Amortization period of cost | 27 years | |||||||||||||||||||||
Allocated amortization cost in percentage | 29.80% | |||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (22,105,000) | (28,459,000) | 110,147,000 | |||||||||||||||||||
Entergy New Orleans [Member] | Flood, Earthquake and Named Windstorm [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 50,000,000 | |||||||||||||||||||||
Entergy Louisiana [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Payments made under purchased power agreement | $ 135,500,000 | 137,600,000 | 122,900,000 | |||||||||||||||||||
Required energy for the production of Vidalia project in percentage | 94.00% | |||||||||||||||||||||
Estimated Payments Under Purchased Power Agreement in Next Twelve Months | 131,000,000 | $ 131,000,000 | ||||||||||||||||||||
Estimated Payments Under Purchased Power Agreement in Year Two and Thereafter | 1,440,000,000 | 1,440,000,000 | ||||||||||||||||||||
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 | |||||||||||||||||||||
Proceeds from insurance | $ 7,040,000 | 3,480,000 | 5,305,000 | |||||||||||||||||||
Number of nuclear power reactors | reactor | 2 | |||||||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 14.00% | |||||||||||||||||||||
Average monthly payments under unit power sales agreement | $ 7,000,000 | |||||||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 26.90% | |||||||||||||||||||||
Amortization period of cost | 27 years | |||||||||||||||||||||
Allocated amortization cost in percentage | 26.23% | |||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (35,881,000) | (125,185,000) | 605,453,000 | |||||||||||||||||||
Entergy Louisiana [Member] | River Bend [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Damages awarded for previously capitalized costs | $ 2,000,000 | |||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 5,000,000 | |||||||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 12,000,000 | |||||||||||||||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 19,000,000 | |||||||||||||||||||||
Entergy Louisiana [Member] | Subsequent Event [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
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 | |||||||||||||||||||||
Entergy Arkansas [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Estimated cost to restore ANO to service | 95,000,000 | |||||||||||||||||||||
Proceeds From Insurance Settlement, Operating and Investing Activities | $ 50,000,000 | |||||||||||||||||||||
Proceeds from insurance | $ 0 | 14,790,000 | 0 | |||||||||||||||||||
Number of nuclear power reactors | reactor | 2 | |||||||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 36.00% | |||||||||||||||||||||
Average monthly payments under unit power sales agreement | $ 17,600,000 | |||||||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 17.10% | |||||||||||||||||||||
Amortization period of cost | 27 years | |||||||||||||||||||||
Incremental NRC Inspection Costs | $ 53,000,000 | |||||||||||||||||||||
NRC inspection and performance improvement costs | 7,000,000 | $ 44,000,000 | ||||||||||||||||||||
Litigation Settlement, Amount Awarded from Other Party | 21,000,000 | |||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 39,293,000 | $ (341,682,000) | $ 1,043,507,000 | |||||||||||||||||||
Entergy Arkansas [Member] | ANO [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Deferred Fuel and Purchased Energy Costs Excluded From Revised Energy Cost Rate | $ 65,900,000 | |||||||||||||||||||||
Litigation Settlement, Amount Awarded from Other Party | 80,000,000 | |||||||||||||||||||||
Entergy Arkansas [Member] | Subsequent Event [Member] | ANO [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Damages awarded for previously capitalized costs | $ 55,000,000 | |||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 12,000,000 | |||||||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 12,000,000 | |||||||||||||||||||||
Damages awarded for previously recorded taxes other than income taxes | 1,000,000 | |||||||||||||||||||||
Reduction of previously recorded deprecation expense | $ 5,000,000 | |||||||||||||||||||||
Entergy Wholesale Commodities [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Number of nuclear power reactors | 3 | |||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Pilgrim [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Damages awarded for previously capitalized costs | $ 60,000,000 | |||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 2,000,000 | |||||||||||||||||||||
Reduction of previously recorded deprecation expense | 4,000,000 | |||||||||||||||||||||
Reduction to operation and maintenance expense | 46,000,000 | |||||||||||||||||||||
Plant balance reduction | 10,000,000 | |||||||||||||||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 62,000,000 | |||||||||||||||||||||
Carrying Value of Nuclear Plant | $ 0 | |||||||||||||||||||||
Entergy Wholesale Commodities [Member] | FitzPatrick [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Litigation Settlement, Amount Awarded from Other Party | 7,000,000 | |||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 7,000,000 | |||||||||||||||||||||
Entergy Wholesale Commodities [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 | |||||||||||||||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 14,000,000 | $ 21,000,000 | ||||||||||||||||||||
Entergy Wholesale Commodities [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 | |||||||||||||||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 34,000,000 | |||||||||||||||||||||
Vidalia Purchased Power Agreement [Member] | ||||||||||||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (30,500,000) |
Commitments And Contingencies_3
Commitments And Contingencies (Maximum Amounts Of Possible Assessments Per Occurrence) (Details) - Insurance-related Assessments [Member] $ in Thousands | Dec. 31, 2019USD ($) |
Entergy Arkansas [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | $ 36,200 |
Entergy Louisiana [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 51,500 |
Entergy Mississippi [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 120 |
Entergy New Orleans [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 120 |
System Energy [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 24,100 |
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 | 12 Months Ended | |||||||
Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2017 | Sep. 30, 2017 | |
Decommissioning Fund Investments | $ 6,920,164 | $ 6,920,164 | $ 6,404,030 | ||||||
Asset Retirement Obligation | 6,923,400 | 6,923,400 | 6,159,200 | $ 6,185,800 | |||||
Entergy Louisiana [Member] | |||||||||
Asset Retirement Obligation, Liabilities Incurred | $ 147,500 | $ 85,400 | |||||||
Decommissioning Fund Investments | 1,284,996 | 1,284,996 | 1,563,812 | ||||||
Asset Retirement Obligation | 1,280,300 | 1,280,300 | 1,497,300 | 1,140,500 | |||||
System Energy [Member] | |||||||||
Decommissioning Fund Investments | 869,543 | 869,543 | 1,054,098 | ||||||
Asset Retirement Obligation | 896,000 | 896,000 | 931,700 | 861,700 | |||||
Entergy Arkansas [Member] | |||||||||
Asset Retirement Obligation, Liabilities Incurred | $ 126,200 | ||||||||
Decommissioning Fund Investments | 912,049 | 912,049 | 1,101,283 | ||||||
Asset Retirement Obligation | 1,048,400 | 1,048,400 | 1,242,600 | 981,200 | |||||
Entergy Mississippi [Member] | |||||||||
Asset Retirement Obligation | 9,200 | 9,200 | $ 9,700 | $ 9,200 | |||||
Vermont Yankee [Member] | Entergy Wholesale Commodities [Member] | |||||||||
Asset Retirement Obligation, Liabilities Incurred | 293,000 | ||||||||
Impairment of Long-Lived Assets to be Disposed of | $ 165,000 | ||||||||
Pilgrim [Member] | Entergy Wholesale Commodities [Member] | |||||||||
Asset Retirement Obligation, Liabilities Incurred | $ 117,500 | ||||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||||
Reduction in decommissioning liability | $ 68,700 | ||||||||
Coal Combustion Residuals [Member] | Entergy Wholesale Commodities [Member] | |||||||||
Asset Retirement Obligation, Liabilities Incurred | 100 | ||||||||
Coal Combustion Residuals [Member] | Entergy Arkansas [Member] | |||||||||
Asset Retirement Obligation, Liabilities Incurred | 8,900 | ||||||||
Coal Combustion Residuals [Member] | Entergy Mississippi [Member] | |||||||||
Asset Retirement Obligation, Liabilities Incurred | $ 500 |
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, 2019 | Dec. 31, 2018 |
Entergy Arkansas [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Regulatory Assets | $ 168.9 | $ 138.3 |
Entergy Louisiana [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Regulatory Liabilities | (2.4) | (18.8) |
Entergy Mississippi [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Regulatory Assets | 80.8 | 63.5 |
Entergy New Orleans [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Regulatory Assets | 52.9 | 49.3 |
Entergy Texas [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Regulatory Assets | 42.5 | 50.9 |
System Energy [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Regulatory Assets | $ 75.9 | 76.4 |
Regulatory Liabilities | $ (55.6) |
Asset Retirement Obligations (C
Asset Retirement Obligations (Cumulative Decommissioning And Retirement Cost Liabilities And Expenses) (Details) - USD ($) $ in Millions | 1 Months Ended | 8 Months Ended | 12 Months Ended | ||||
Dec. 31, 2019 | Aug. 31, 2019 | Jan. 31, 2019 | Aug. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | $ 6,159.2 | $ 6,159.2 | $ 6,923.4 | $ 6,185.8 | |||
Accretion | 414 | 423.5 | |||||
Change in Cash Flow Estimate | 273.7 | 505.4 | |||||
Spending | $ (1,406.3) | (45.6) | (191.3) | ||||
Entergy Arkansas [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 1,242.6 | 1,242.6 | 1,048.4 | 981.2 | |||
Accretion | 68 | 60.4 | |||||
Change in Cash Flow Estimate | 126.2 | 8.9 | |||||
Spending | 0 | (2.1) | |||||
Entergy Louisiana [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 1,497.3 | 1,497.3 | 1,280.3 | 1,140.5 | |||
Accretion | 69.5 | 63.2 | |||||
Change in Cash Flow Estimate | 147.5 | 85.4 | |||||
Spending | 0 | (8.8) | |||||
Entergy Mississippi [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 9.7 | 9.7 | 9.2 | 9.2 | |||
Accretion | 0.5 | 0.5 | |||||
Change in Cash Flow Estimate | 0 | 0.5 | |||||
Spending | 0 | (1) | |||||
Entergy New Orleans [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 3.5 | 3.5 | 3.3 | 3.1 | |||
Accretion | 0.2 | 0.2 | |||||
Change in Cash Flow Estimate | 0 | 0 | |||||
Spending | 0 | 0 | |||||
Entergy Texas [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 7.6 | 7.6 | 7.2 | 6.8 | |||
Accretion | 0.4 | 0.4 | |||||
Change in Cash Flow Estimate | 0 | 0 | |||||
Spending | 0 | 0 | |||||
System Energy [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 931.7 | 931.7 | 896 | 861.7 | |||
Accretion | 35.7 | 34.3 | |||||
Change in Cash Flow Estimate | 0 | 0 | |||||
Spending | 0 | 0 | |||||
Entergy Wholesale Commodities [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 0.5 | 0.5 | 0.4 | 0.3 | |||
Accretion | 0.1 | 0 | |||||
Change in Cash Flow Estimate | 0 | 0.1 | |||||
Spending | 0 | 0 | |||||
Big Rock Point [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 40.3 | 40.3 | 39.7 | 38.9 | |||
Accretion | 3.2 | 3.2 | |||||
Change in Cash Flow Estimate | 0 | 0 | |||||
Spending | 0 | (2.6) | (2.4) | ||||
Indian Point 1 [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 238.6 | 238.6 | 227.9 | 217.6 | |||
Accretion | 19.5 | 18.6 | |||||
Change in Cash Flow Estimate | 0 | 0 | |||||
Spending | 0 | (8.8) | (8.3) | ||||
Indian Point 2 [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 829 | 829 | 768 | 708.7 | |||
Accretion | 65.5 | 60.6 | |||||
Change in Cash Flow Estimate | 0 | 0 | |||||
Spending | 0 | (4.5) | (1.3) | ||||
Indian Point 3 [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 808.4 | 808.4 | 750.6 | 694.5 | |||
Accretion | 62.5 | 58 | |||||
Change in Cash Flow Estimate | 0 | 0 | |||||
Spending | 0 | (4.7) | (1.9) | ||||
Palisades [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 549.8 | 549.8 | 508 | 470.4 | |||
Accretion | 42.9 | 39.6 | |||||
Change in Cash Flow Estimate | 0 | 0 | |||||
Spending | 0 | (1.1) | (2) | ||||
Pilgrim [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | 0 | 0 | 816.5 | 651.4 | |||
Accretion | 44.1 | 58.6 | |||||
Change in Cash Flow Estimate | 0 | 117.5 | |||||
Spending | $ (836.7) | (23.9) | (11) | ||||
Vermont Yankee [Member] | |||||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |||||||
Asset Retirement Obligation | $ 0 | 0 | 567.9 | $ 401.5 | |||
Accretion | 1.7 | 25.9 | |||||
Change in Cash Flow Estimate | 0 | 293 | |||||
Spending | $ (569.6) | $ 0 | $ (152.5) |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||||||
Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2019 | Jan. 31, 2019 | Dec. 31, 2015 | Dec. 31, 1989 | Dec. 31, 1988 | |
Operating Lease, Right-of-Use Asset | $ 234,000,000 | ||||||||
Finance Lease, Right-of-Use Asset | 61,000,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | $ 263,000,000 | ||||||||
Rent expense | $ 47,800,000 | $ 53,100,000 | $ 44,400,000 | ||||||
Entergy Arkansas [Member] | |||||||||
Operating Lease, Right-of-Use Asset | 52,317,000 | ||||||||
Finance Lease, Right-of-Use Asset | 11,216,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 59,000,000 | ||||||||
Rent expense | 6,200,000 | 7,500,000 | 8,000,000 | ||||||
Payments For Railcar Operating Lease | 2,800,000 | 4,000,000 | 3,400,000 | ||||||
Regulatory Assets | 138,300,000 | 168,900,000 | |||||||
Entergy Louisiana [Member] | |||||||||
Operating Lease, Right-of-Use Asset | 36,034,000 | ||||||||
Finance Lease, Right-of-Use Asset | 17,209,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 51,000,000 | ||||||||
Portion of Waterford 3 purchase price satisfied through issuance of debt | $ 52,000,000 | ||||||||
Rent expense | 20,200,000 | 23,000,000 | 17,800,000 | ||||||
Payments For Railcar Operating Lease | 400,000 | 300,000 | 300,000 | ||||||
Sale Leaseback Transaction, Net Book Value | $ 62,700,000 | ||||||||
Net regulatory liability related to sale and leaseback transaction | $ 18,800,000 | 2,400,000 | |||||||
Liability related to undivided interests in Waterford 3 | 60,000,000 | $ 353,600,000 | |||||||
Cash payment representing the purchase price to acquire the undivided interests in Waterford 3 | $ 60,000,000 | ||||||||
Reduction in liability related to undivided interest in Waterford 3 | 60,000,000 | ||||||||
Reduced liability related to undivided interests in Waterford 3 | $ 2,700,000 | ||||||||
Percentage Of Capacity And Energy Purchased Under Purchased Power Agreement | 50.00% | ||||||||
Entergy Mississippi [Member] | |||||||||
Operating Lease, Right-of-Use Asset | 16,900,000 | ||||||||
Finance Lease, Right-of-Use Asset | 6,869,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 26,000,000 | ||||||||
Rent expense | $ 4,600,000 | 5,600,000 | 4,000,000 | ||||||
Regulatory Assets | 63,500,000 | 80,800,000 | |||||||
Oil Tank Facilities Lease Payments | 100,000 | 1,600,000 | 1,600,000 | ||||||
Entergy New Orleans [Member] | |||||||||
Operating Lease, Right-of-Use Asset | 3,878,000 | ||||||||
Finance Lease, Right-of-Use Asset | 3,291,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 7,000,000 | ||||||||
Rent expense | 2,500,000 | 2,500,000 | 900,000 | ||||||
Regulatory Assets | 49,300,000 | 52,900,000 | |||||||
Entergy Texas [Member] | |||||||||
Operating Lease, Right-of-Use Asset | 14,020,000 | ||||||||
Finance Lease, Right-of-Use Asset | 5,273,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | $ 16,000,000 | ||||||||
Rent expense | 3,100,000 | 3,400,000 | 2,800,000 | ||||||
Regulatory Assets | 50,900,000 | 42,500,000 | |||||||
Capacity expense under purchase power agreements accounted for as operating leases | $ 30,500,000 | 34,100,000 | 26,100,000 | ||||||
Percent of minimum payments | 100.00% | ||||||||
System Energy [Member] | |||||||||
Rent expense | $ 1,900,000 | 2,200,000 | 1,600,000 | ||||||
Sale Leaseback Transaction, Net Book Value | $ 500,000,000 | ||||||||
Regulatory Assets | 76,400,000 | 75,900,000 | |||||||
Net regulatory liability related to sale and leaseback transaction | 55,600,000 | ||||||||
System Energy [Member] | Grand Gulf [Member] | |||||||||
Sale Leaseback Transaction, Net Book Value | $ 500,000,000 | ||||||||
Regulatory Assets | 0 | ||||||||
Net regulatory liability related to sale and leaseback transaction | $ 55,600,000 | $ 55,600,000 | $ 55,600,000 | ||||||
Waterford 3 [Member] | |||||||||
Minimum Lease Payments, Sale Leaseback Transactions | 57,500,000 | ||||||||
Interest Portion of Minimum Lease Payments, Sale Leaseback Transactions | $ 2,300,000 |
Leases (Components Of Minimum L
Leases (Components Of Minimum Lease Payments) (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 94,043 |
Operating Leases, Future Minimum Payments, Due in Two Years | 82,191 |
Operating Leases, Future Minimum Payments, Due in Three Years | 75,147 |
Operating Leases, Future Minimum Payments, Due in Four Years | 60,808 |
Operating Leases, Future Minimum Payments, Due in Five Years | 47,391 |
Operating Leases, Future Minimum Payments, Due Thereafter | 88,004 |
Operating Leases, Future Minimum Payments Due | 447,584 |
Current Year, Capital Leases | 2,887 |
Year Two, Capital Leases | 2,887 |
Year Three, Capital Leases | 2,887 |
Year Four, Capital Leases | 2,887 |
Year Five, Capital Leases | 2,887 |
Years thereafter, Capital Leases | 16,117 |
Minimum lease payments, Capital Leases | 30,552 |
Less: Amount representing interest, Capital Leases | 8,555 |
Present value of net minimum lease payments, Capital Leases | 21,997 |
Entergy Arkansas [Member] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 20,421 |
Operating Leases, Future Minimum Payments, Due in Two Years | 13,918 |
Operating Leases, Future Minimum Payments, Due in Three Years | 11,931 |
Operating Leases, Future Minimum Payments, Due in Four Years | 9,458 |
Operating Leases, Future Minimum Payments, Due in Five Years | 7,782 |
Operating Leases, Future Minimum Payments, Due Thereafter | 23,297 |
Operating Leases, Future Minimum Payments Due | 86,807 |
Entergy Louisiana [Member] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 25,970 |
Operating Leases, Future Minimum Payments, Due in Two Years | 21,681 |
Operating Leases, Future Minimum Payments, Due in Three Years | 19,514 |
Operating Leases, Future Minimum Payments, Due in Four Years | 15,756 |
Operating Leases, Future Minimum Payments, Due in Five Years | 12,092 |
Operating Leases, Future Minimum Payments, Due Thereafter | 22,003 |
Operating Leases, Future Minimum Payments Due | 117,016 |
Entergy Mississippi [Member] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 9,344 |
Operating Leases, Future Minimum Payments, Due in Two Years | 8,763 |
Operating Leases, Future Minimum Payments, Due in Three Years | 7,186 |
Operating Leases, Future Minimum Payments, Due in Four Years | 5,675 |
Operating Leases, Future Minimum Payments, Due in Five Years | 2,946 |
Operating Leases, Future Minimum Payments, Due Thereafter | 4,417 |
Operating Leases, Future Minimum Payments Due | 38,331 |
Entergy New Orleans [Member] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 2,493 |
Operating Leases, Future Minimum Payments, Due in Two Years | 2,349 |
Operating Leases, Future Minimum Payments, Due in Three Years | 1,901 |
Operating Leases, Future Minimum Payments, Due in Four Years | 1,314 |
Operating Leases, Future Minimum Payments, Due in Five Years | 1,043 |
Operating Leases, Future Minimum Payments, Due Thereafter | 2,323 |
Operating Leases, Future Minimum Payments Due | 11,423 |
Entergy Texas [Member] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 5,744 |
Operating Leases, Future Minimum Payments, Due in Two Years | 4,431 |
Operating Leases, Future Minimum Payments, Due in Three Years | 3,625 |
Operating Leases, Future Minimum Payments, Due in Four Years | 2,218 |
Operating Leases, Future Minimum Payments, Due in Five Years | 1,561 |
Operating Leases, Future Minimum Payments, Due Thereafter | 2,726 |
Operating Leases, Future Minimum Payments Due | $ 20,305 |
Leases (Rent Expenses) (Details
Leases (Rent Expenses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 94,043 | ||
Rent Expense | 47,800 | $ 53,100 | $ 44,400 |
Operating Leases, Future Minimum Payments, Due in Two Years | 82,191 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 75,147 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 60,808 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 47,391 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 88,004 | ||
Operating Leases, Future Minimum Payments Due | 447,584 | ||
Entergy Arkansas [Member] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 20,421 | ||
Rent Expense | 6,200 | 7,500 | 8,000 |
Operating Leases, Future Minimum Payments, Due in Two Years | 13,918 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 11,931 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 9,458 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 7,782 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 23,297 | ||
Operating Leases, Future Minimum Payments Due | 86,807 | ||
Entergy Louisiana [Member] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 25,970 | ||
Rent Expense | 20,200 | 23,000 | 17,800 |
Operating Leases, Future Minimum Payments, Due in Two Years | 21,681 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 19,514 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 15,756 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 12,092 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 22,003 | ||
Operating Leases, Future Minimum Payments Due | 117,016 | ||
Entergy Mississippi [Member] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 9,344 | ||
Rent Expense | 4,600 | 5,600 | 4,000 |
Operating Leases, Future Minimum Payments, Due in Two Years | 8,763 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 7,186 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 5,675 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 2,946 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 4,417 | ||
Operating Leases, Future Minimum Payments Due | 38,331 | ||
Entergy New Orleans [Member] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 2,493 | ||
Rent Expense | 2,500 | 2,500 | 900 |
Operating Leases, Future Minimum Payments, Due in Two Years | 2,349 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 1,901 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 1,314 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 1,043 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 2,323 | ||
Operating Leases, Future Minimum Payments Due | 11,423 | ||
Entergy Texas [Member] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 5,744 | ||
Rent Expense | 3,100 | 3,400 | 2,800 |
Operating Leases, Future Minimum Payments, Due in Two Years | 4,431 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 3,625 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 2,218 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 1,561 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 2,726 | ||
Operating Leases, Future Minimum Payments Due | 20,305 | ||
System Energy [Member] | |||
Rent Expense | $ 1,900 | $ 2,200 | $ 1,600 |
Leases Purchase Power Agreement
Leases Purchase Power Agreement Minimum Lease Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 94,043 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 82,191 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 75,147 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 60,808 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 47,391 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 88,004 | |
Operating Leases, Future Minimum Payments Due | 447,584 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | $ 56,386 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 47,919 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 37,228 | |
Lessee, Operating Lease, Liability, Payments, Due | 263,171 | |
Purchased Power Agreement [Domain] | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 31,159 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 31,876 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 32,609 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 10,180 | |
Lessee, Operating Lease, Liability, Payments, Due | 105,824 | |
Entergy Louisiana [Member] | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 25,970 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 21,681 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 19,514 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 15,756 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 12,092 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 22,003 | |
Operating Leases, Future Minimum Payments Due | 117,016 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 9,645 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 6,935 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 4,916 | |
Lessee, Operating Lease, Liability, Payments, Due | 38,933 | |
Entergy Texas [Member] | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 5,744 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 4,431 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 3,625 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 2,218 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 1,561 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 2,726 | |
Operating Leases, Future Minimum Payments Due | 20,305 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 3,611 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 2,689 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 2,336 | |
Lessee, Operating Lease, Liability, Payments, Due | $ 15,778 | |
Entergy Texas [Member] | Purchased Power Agreement [Domain] | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 31,159 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 31,876 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 32,609 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 10,180 | |
Lessee, Operating Lease, Liability, Payments, Due | $ 105,824 |
Leases (Future Minimum Lease Pa
Leases (Future Minimum Lease Payments Sale Leaseback Transactions) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Year One | $ 795,000 | ||
Year Two | 1,358,159 | ||
Year Three | 1,104,289 | ||
Year Four | 1,865,154 | ||
Year Five | 1,175,000 | ||
Long-term Debt, Fair Value | 19,059,950 | $ 16,101,455 | |
Interest Expense, Debt | 807,382 | 768,322 | $ 707,212 |
Total Long-Term Debt | 17,873,655 | 16,168,312 | |
System Energy [Member] | |||
Year One | 0 | ||
Year Two | 131,600 | ||
Year Three | 134,000 | ||
Year Four | 250,000 | ||
Year Five | 0 | ||
Long-term Debt, Fair Value | 565,209 | 630,475 | |
Interest Expense, Debt | 35,328 | 38,424 | 37,141 |
Total Long-Term Debt | 548,107 | 630,750 | |
System Energy [Member] | Grand Gulf [Member] | |||
Year One | 17,188 | 17,188 | |
Year Two | 17,188 | 17,188 | |
Year Three | 17,188 | 17,188 | |
Year Four | 17,188 | 17,188 | |
Year Five | 17,188 | 17,188 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 206,250 | 223,437 | |
Long-term Debt, Fair Value | 292,190 | 309,377 | |
Interest Expense, Debt | 257,844 | 275,025 | |
Total Long-Term Debt | 34,346 | 34,352 | |
Entergy Louisiana [Member] | |||
Year One | 320,000 | ||
Year Two | 360,200 | ||
Year Three | 200,000 | ||
Year Four | 379,185 | ||
Year Five | 700,000 | ||
Long-term Debt, Fair Value | 7,961,168 | 6,834,134 | |
Interest Expense, Debt | 309,493 | 288,658 | $ 275,185 |
Total Long-Term Debt | $ 7,303,669 | $ 6,805,768 |
Leases Lease, Cost (Details)
Leases Lease, Cost (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Operating Lease, Expense | $ 63,566 |
Finance Lease, Right-of-Use Asset, Amortization | 16,048 |
Finance Lease, Interest Expense | 3,667 |
Entergy Louisiana [Member] | |
Operating Lease, Expense | 11,975 |
Finance Lease, Right-of-Use Asset, Amortization | 5,940 |
Finance Lease, Interest Expense | 895 |
Entergy Mississippi [Member] | |
Operating Lease, Expense | 6,927 |
Finance Lease, Right-of-Use Asset, Amortization | 2,097 |
Finance Lease, Interest Expense | 353 |
Entergy New Orleans [Member] | |
Operating Lease, Expense | 1,406 |
Finance Lease, Right-of-Use Asset, Amortization | 1,042 |
Finance Lease, Interest Expense | 168 |
Entergy Texas [Member] | |
Operating Lease, Expense | 4,259 |
Finance Lease, Right-of-Use Asset, Amortization | 1,568 |
Finance Lease, Interest Expense | 241 |
Entergy Arkansas [Member] | |
Operating Lease, Expense | 13,213 |
Finance Lease, Right-of-Use Asset, Amortization | 3,643 |
Finance Lease, Interest Expense | $ 594 |
Leases Lease, Assets (Details)
Leases Lease, Assets (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Operating Lease, Right-of-Use Asset | $ 234,000 |
Finance Lease, Right-of-Use Asset | 61,000 |
Entergy Louisiana [Member] | |
Operating Lease, Right-of-Use Asset | 36,034 |
Finance Lease, Right-of-Use Asset | 17,209 |
Entergy Mississippi [Member] | |
Operating Lease, Right-of-Use Asset | 16,900 |
Finance Lease, Right-of-Use Asset | 6,869 |
Entergy New Orleans [Member] | |
Operating Lease, Right-of-Use Asset | 3,878 |
Finance Lease, Right-of-Use Asset | 3,291 |
Entergy Texas [Member] | |
Operating Lease, Right-of-Use Asset | 14,020 |
Finance Lease, Right-of-Use Asset | 5,273 |
Entergy Arkansas [Member] | |
Operating Lease, Right-of-Use Asset | 52,317 |
Finance Lease, Right-of-Use Asset | $ 11,216 |
Leases Lease, Liabilities (Deta
Leases Lease, Liabilities (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Operating Lease, Liability, Current | $ 52,678 |
Finance Lease, Liability, Current | 11,413 |
Operating Lease, Liability, Noncurrent | 181,339 |
Finance Lease, Liability, Noncurrent | 53,396 |
Entergy Louisiana [Member] | |
Operating Lease, Liability, Current | 10,331 |
Finance Lease, Liability, Current | 3,919 |
Operating Lease, Liability, Noncurrent | 25,743 |
Finance Lease, Liability, Noncurrent | 13,376 |
Entergy Mississippi [Member] | |
Operating Lease, Liability, Current | 5,633 |
Finance Lease, Liability, Current | 1,487 |
Operating Lease, Liability, Noncurrent | 11,232 |
Finance Lease, Liability, Noncurrent | 5,382 |
Entergy New Orleans [Member] | |
Operating Lease, Liability, Current | 1,134 |
Finance Lease, Liability, Current | 647 |
Operating Lease, Liability, Noncurrent | 2,746 |
Finance Lease, Liability, Noncurrent | 2,644 |
Entergy Texas [Member] | |
Operating Lease, Liability, Current | 3,698 |
Finance Lease, Liability, Current | 1,222 |
Operating Lease, Liability, Noncurrent | 10,364 |
Finance Lease, Liability, Noncurrent | 4,009 |
Entergy Arkansas [Member] | |
Operating Lease, Liability, Current | 11,443 |
Finance Lease, Liability, Current | 2,442 |
Operating Lease, Liability, Noncurrent | 40,880 |
Finance Lease, Liability, Noncurrent | $ 8,768 |
Leases Lease, Terms and Discoun
Leases Lease, Terms and Discount Rate (Details) | Dec. 31, 2019 |
Operating Lease, Weighted Average Remaining Lease Term | 5 years 1 month 20 days |
Finance Lease, Weighted Average Remaining Lease Term | 6 years 8 months 8 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.86% |
Finance Lease, Weighted Average Discount Rate, Percent | 4.60% |
Entergy Louisiana [Member] | |
Operating Lease, Weighted Average Remaining Lease Term | 4 years 3 months 29 days |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 2 months 26 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.65% |
Finance Lease, Weighted Average Discount Rate, Percent | 3.65% |
Entergy Mississippi [Member] | |
Operating Lease, Weighted Average Remaining Lease Term | 5 years 14 days |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 3 months 25 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.75% |
Finance Lease, Weighted Average Discount Rate, Percent | 3.67% |
Entergy New Orleans [Member] | |
Operating Lease, Weighted Average Remaining Lease Term | 5 years 7 months 13 days |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 11 months 4 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.88% |
Finance Lease, Weighted Average Discount Rate, Percent | 3.74% |
Entergy Texas [Member] | |
Operating Lease, Weighted Average Remaining Lease Term | 4 years 6 months 14 days |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 1 month 13 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.73% |
Finance Lease, Weighted Average Discount Rate, Percent | 3.82% |
Entergy Arkansas [Member] | |
Operating Lease, Weighted Average Remaining Lease Term | 5 years 10 months 2 days |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 5 months 4 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.67% |
Finance Lease, Weighted Average Discount Rate, Percent | 3.68% |
Leases Lease, Maturity (Details
Leases Lease, Maturity (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | $ 62,124 |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 14,014 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 56,386 |
Finance Lease, Liability, Payments, Due Year Two | 12,457 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 47,919 |
Finance Lease, Liability, Payments, Due Year Three | 11,253 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 37,228 |
Finance Lease, Liability, Payments, Due Year Four | 10,121 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 30,376 |
Finance Lease, Liability, Payments, Due Year Five | 8,454 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 29,138 |
Finance Lease, Liability, Payments, Due after Year Five | 20,010 |
Lessee, Operating Lease, Liability, Payments, Due | 263,171 |
Finance Lease, Liability, Payments, Due | 76,309 |
Operating Lease, Cost | 29,153 |
Finance Lease, Interest Payment on Liability | 11,500 |
Present Value Net Minimum Operating Lease Payments | 234,018 |
Present Value Net Minimum Financing Lease Payments | 64,809 |
Entergy Louisiana [Member] | |
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | 11,376 |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 4,422 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 9,645 |
Finance Lease, Liability, Payments, Due Year Two | 3,766 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 6,935 |
Finance Lease, Liability, Payments, Due Year Three | 3,325 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 4,916 |
Finance Lease, Liability, Payments, Due Year Four | 2,856 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 3,089 |
Finance Lease, Liability, Payments, Due Year Five | 2,092 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 2,972 |
Finance Lease, Liability, Payments, Due after Year Five | 2,476 |
Lessee, Operating Lease, Liability, Payments, Due | 38,933 |
Finance Lease, Liability, Payments, Due | 18,937 |
Operating Lease, Cost | 2,860 |
Finance Lease, Interest Payment on Liability | 1,641 |
Present Value Net Minimum Operating Lease Payments | 36,073 |
Present Value Net Minimum Financing Lease Payments | 17,296 |
Entergy Mississippi [Member] | |
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | 6,112 |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 1,692 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 4,983 |
Finance Lease, Liability, Payments, Due Year Two | 1,527 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 3,566 |
Finance Lease, Liability, Payments, Due Year Three | 1,334 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 1,454 |
Finance Lease, Liability, Payments, Due Year Four | 1,111 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 731 |
Finance Lease, Liability, Payments, Due Year Five | 838 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 1,972 |
Finance Lease, Liability, Payments, Due after Year Five | 1,038 |
Lessee, Operating Lease, Liability, Payments, Due | 18,818 |
Finance Lease, Liability, Payments, Due | 7,540 |
Operating Lease, Cost | 1,953 |
Finance Lease, Interest Payment on Liability | 670 |
Present Value Net Minimum Operating Lease Payments | 16,865 |
Present Value Net Minimum Financing Lease Payments | 6,870 |
Entergy New Orleans [Member] | |
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | 1,248 |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 744 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 991 |
Finance Lease, Liability, Payments, Due Year Two | 634 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 711 |
Finance Lease, Liability, Payments, Due Year Three | 581 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 549 |
Finance Lease, Liability, Payments, Due Year Four | 532 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 310 |
Finance Lease, Liability, Payments, Due Year Five | 449 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 522 |
Finance Lease, Liability, Payments, Due after Year Five | 713 |
Lessee, Operating Lease, Liability, Payments, Due | 4,331 |
Finance Lease, Liability, Payments, Due | 3,653 |
Operating Lease, Cost | 452 |
Finance Lease, Interest Payment on Liability | 362 |
Present Value Net Minimum Operating Lease Payments | 3,879 |
Present Value Net Minimum Financing Lease Payments | 3,291 |
Entergy Texas [Member] | |
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | 4,339 |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 1,382 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 3,611 |
Finance Lease, Liability, Payments, Due Year Two | 1,188 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 2,689 |
Finance Lease, Liability, Payments, Due Year Three | 981 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 2,336 |
Finance Lease, Liability, Payments, Due Year Four | 839 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 1,684 |
Finance Lease, Liability, Payments, Due Year Five | 648 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 1,119 |
Finance Lease, Liability, Payments, Due after Year Five | 706 |
Lessee, Operating Lease, Liability, Payments, Due | 15,778 |
Finance Lease, Liability, Payments, Due | 5,744 |
Operating Lease, Cost | 1,716 |
Finance Lease, Interest Payment on Liability | 512 |
Present Value Net Minimum Operating Lease Payments | 14,062 |
Present Value Net Minimum Financing Lease Payments | 5,232 |
Entergy Arkansas [Member] | |
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | 13,010 |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 2,772 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 11,165 |
Finance Lease, Liability, Payments, Due Year Two | 2,369 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 8,788 |
Finance Lease, Liability, Payments, Due Year Three | 2,079 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 7,193 |
Finance Lease, Liability, Payments, Due Year Four | 1,833 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 5,866 |
Finance Lease, Liability, Payments, Due Year Five | 1,489 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 12,021 |
Finance Lease, Liability, Payments, Due after Year Five | 1,787 |
Lessee, Operating Lease, Liability, Payments, Due | 58,043 |
Finance Lease, Liability, Payments, Due | 12,329 |
Operating Lease, Cost | 5,720 |
Finance Lease, Interest Payment on Liability | 1,119 |
Present Value Net Minimum Operating Lease Payments | 52,323 |
Present Value Net Minimum Financing Lease Payments | $ 11,210 |
Retirement, Other Postretirem_3
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)plan | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Concentration Risk | 10.00% | ||
Change in Plan Assets | |||
non-current pension liability | $ 2,798,265 | $ 2,616,085 | |
Current pension liability | 66,184 | 61,240 | |
Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 143,400 | 131,900 | |
Net periodic benefit costs | 22,600 | 24,400 | $ 37,600 |
Settlement charges related to the payment of lump sum benefits out of the plan | 7,400 | 7,700 | 20,300 |
Projected benefit obligation | 162,800 | 147,000 | |
Defined Benefit Plan Benefit Obligation, Current | 18,100 | 17,000 | |
Defined Benefit Plan Benefit Obligation, Non-Current | 144,600 | 130,000 | |
Amortization of prior service credit | 58,800 | 51,900 | |
Accumulated other comprehensive income (before taxes) | 24,900 | 19,200 | |
Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 6,271,160 | 5,497,415 | 6,071,316 |
Change in Plan Assets | |||
Projected benefit obligation | 8,406,203 | 7,404,917 | 7,987,087 |
non-current pension liability | 2,135,043 | 1,907,502 | |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | $ 6,271,160 | 5,497,415 | |
Change in Plan Assets | |||
Number of qualified pension plans | plan | 8 | ||
Accumulated pension benefit obligation | $ 7,800,000 | 6,900,000 | |
Net periodic benefit costs | 276,969 | 255,613 | 214,221 |
Amortization of prior service credit | 0 | 398 | 261 |
Expected Employer Contributions | $ 216,300 | ||
Number of Qualified Pension Plans in which Registrant Subsidiaries Participate | 4 | ||
Number of final average pay pension plans | 6 | ||
Number of Cash Balance Pension Plans in which Asset Held in Second Master Trust | 2 | ||
Defined Contribution Plans [Member] | |||
Change in Plan Assets | |||
Subsidiaries' contribution to defined contribution plan | $ 57,600 | 54,300 | 49,100 |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | ||
Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | $ 686,262 | 609,782 | 659,327 |
Change in Plan Assets | |||
Net periodic benefit costs | (5,593) | 13,088 | 25,603 |
Projected benefit obligation | 1,252,903 | 1,232,619 | 1,563,487 |
non-current pension liability | 518,601 | 578,561 | |
Current pension liability | 48,040 | 44,276 | |
Amortization of prior service credit | (35,377) | (37,002) | (41,425) |
Accumulated other comprehensive income (before taxes) | (37,901) | (76,299) | |
Expected Employer Contributions | 49,100 | ||
Entergy Arkansas [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 319,075 | 313,295 | |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 2,248 | 2,519 | |
Net periodic benefit costs | 275 | 474 | 679 |
Projected benefit obligation | 2,755 | 2,752 | |
non-current pension liability | 2,506 | 2,554 | |
Current pension liability | 249 | 198 | |
Accumulated other comprehensive income (before taxes) | 0 | ||
Settlement charges | 30 | 269 | |
Entergy Arkansas [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 1,200,035 | 1,068,842 | 1,205,668 |
Change in Plan Assets | |||
Projected benefit obligation | 1,615,084 | 1,443,808 | 1,580,756 |
non-current pension liability | 415,049 | 374,966 | |
Entergy Arkansas [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 1,519,998 | 1,362,425 | |
Net periodic benefit costs | 44,400 | 43,020 | 36,987 |
Entergy Arkansas [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 284,224 | 252,055 | 274,678 |
Change in Plan Assets | |||
Net periodic benefit costs | (10,747) | (10,168) | (4,015) |
Projected benefit obligation | 185,744 | 187,830 | 249,019 |
Current pension liability | 0 | 0 | |
Amortization of prior service credit | (4,950) | (5,110) | (5,110) |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Expected Employer Contributions | 509 | ||
Entergy Louisiana [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 677,619 | 643,171 | |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 1,682 | 1,881 | |
Net periodic benefit costs | 159 | 180 | 185 |
Projected benefit obligation | 1,682 | 1,881 | |
non-current pension liability | 1,467 | 1,652 | |
Current pension liability | 216 | 229 | |
Accumulated other comprehensive income (before taxes) | 5 | ||
Entergy Louisiana [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 1,364,030 | 1,215,926 | 1,365,741 |
Change in Plan Assets | |||
Projected benefit obligation | 1,784,474 | 1,599,916 | 1,785,700 |
non-current pension liability | 420,444 | 383,990 | |
Entergy Louisiana [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 1,643,759 | 1,481,158 | |
Net periodic benefit costs | 48,630 | 52,108 | 44,283 |
Entergy Louisiana [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | 0 |
Change in Plan Assets | |||
Net periodic benefit costs | 7,259 | 11,194 | 12,598 |
Projected benefit obligation | 274,175 | 275,269 | 345,389 |
non-current pension liability | 255,708 | 257,529 | |
Current pension liability | 18,467 | 17,740 | |
Amortization of prior service credit | (7,349) | (7,735) | (7,735) |
Accumulated other comprehensive income (before taxes) | (29,654) | (35,478) | |
Expected Employer Contributions | 18,545 | ||
Entergy Mississippi [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 99,406 | 93,100 | |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 2,938 | 2,427 | |
Net periodic benefit costs | 326 | 300 | 251 |
Projected benefit obligation | 3,286 | 2,732 | |
non-current pension liability | 2,930 | 2,604 | |
Current pension liability | 357 | 128 | |
Accumulated other comprehensive income (before taxes) | 0 | ||
Settlement charges | 40 | ||
Entergy Mississippi [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 354,928 | 316,716 | 360,842 |
Change in Plan Assets | |||
Projected benefit obligation | 471,510 | 414,089 | 457,549 |
non-current pension liability | 116,582 | 97,373 | |
Entergy Mississippi [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 438,817 | 387,635 | |
Net periodic benefit costs | 11,331 | 10,792 | 8,504 |
Entergy Mississippi [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 86,085 | 75,853 | 82,433 |
Change in Plan Assets | |||
Net periodic benefit costs | (2,100) | (1,513) | (1,030) |
Projected benefit obligation | 65,979 | 68,976 | 84,621 |
Current pension liability | 0 | 0 | |
Amortization of prior service credit | (1,756) | (1,823) | (1,823) |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Expected Employer Contributions | 130 | ||
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 230 | 206 | |
Net periodic benefit costs | 20 | 81 | 73 |
Projected benefit obligation | 231 | 206 | |
non-current pension liability | 215 | 191 | |
Current pension liability | 17 | 16 | |
Accumulated other comprehensive income (before taxes) | 0 | ||
Entergy New Orleans [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 160,777 | 145,968 | 165,747 |
Change in Plan Assets | |||
Projected benefit obligation | 206,962 | 191,190 | 217,896 |
non-current pension liability | 46,185 | 45,222 | |
Entergy New Orleans [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 192,561 | 179,907 | |
Net periodic benefit costs | 5,101 | 5,789 | 5,096 |
Entergy New Orleans [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 93,858 | 81,774 | 85,504 |
Change in Plan Assets | |||
Net periodic benefit costs | (3,450) | (3,673) | (2,521) |
Projected benefit obligation | 38,460 | 41,987 | 53,548 |
Current pension liability | 0 | 0 | |
Amortization of prior service credit | (682) | (745) | (745) |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Expected Employer Contributions | 162 | ||
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 7,391 | 7,724 | |
Net periodic benefit costs | 481 | 650 | 499 |
Projected benefit obligation | 7,783 | 7,952 | |
non-current pension liability | 7,060 | 7,280 | |
Current pension liability | 723 | 672 | |
Accumulated other comprehensive income (before taxes) | 0 | ||
Settlement charges | 139 | ||
Entergy Texas [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 339,126 | 315,514 | 363,523 |
Change in Plan Assets | |||
Projected benefit obligation | 396,764 | 369,604 | 410,720 |
non-current pension liability | 57,638 | 54,090 | |
Entergy Texas [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 371,589 | 347,852 | |
Net periodic benefit costs | 5,740 | 4,158 | 3,543 |
Entergy Texas [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 161,810 | 144,846 | 154,171 |
Change in Plan Assets | |||
Net periodic benefit costs | (6,503) | (6,204) | (1,751) |
Projected benefit obligation | 94,742 | 88,310 | 116,702 |
Current pension liability | 0 | 0 | |
Amortization of prior service credit | (2,243) | (2,316) | (2,316) |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Expected Employer Contributions | 61 | ||
System Energy [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 109,816 | 98,639 | |
System Energy [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 282,668 | 245,516 | 274,432 |
Change in Plan Assets | |||
Projected benefit obligation | 393,607 | 339,034 | 384,049 |
non-current pension liability | 110,939 | 93,518 | |
System Energy [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 368,771 | 317,848 | |
Net periodic benefit costs | 12,345 | 14,905 | 11,716 |
System Energy [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 48,471 | 43,670 | 49,124 |
Change in Plan Assets | |||
Net periodic benefit costs | (1,009) | (490) | 692 |
Projected benefit obligation | 47,348 | 48,791 | 61,381 |
non-current pension liability | 5,121 | ||
Current pension liability | 0 | 0 | |
Amortization of prior service credit | (1,450) | (1,513) | $ (1,513) |
Accumulated other comprehensive income (before taxes) | 0 | $ 0 | |
Expected Employer Contributions | $ 21 | ||
Minimum [Member] | Defined Contribution Plans [Member] | |||
Change in Plan Assets | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 70.00% | ||
Maximum [Member] | Defined Contribution Plans [Member] | |||
Change in Plan Assets | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | ||
Domestic Equity Securities [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 39.00% | ||
Domestic Equity Securities [Member] | Minimum [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 32.00% | ||
Domestic Equity Securities [Member] | Maximum [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 46.00% | ||
International Equity Securities [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 19.00% | ||
International Equity Securities [Member] | Minimum [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 15.00% | ||
International Equity Securities [Member] | Maximum [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 23.00% | ||
Fixed Income Securities [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 42.00% | ||
Fixed Income Securities [Member] | Minimum [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 39.00% | ||
Fixed Income Securities [Member] | Maximum [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 45.00% |
Retirement, Other Postretirem_4
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Net Periodic Pension Cost) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | $ 18,699 | $ 27,129 | $ 26,915 |
Interest cost | 47,901 | 50,725 | 55,838 |
Expected return on assets | (38,246) | (41,493) | (37,630) |
Amortization of prior service credit | (35,377) | (37,002) | (41,425) |
Recognized net loss | 1,430 | 13,729 | 21,905 |
Net periodic pension costs | (5,593) | 13,088 | 25,603 |
Prior service credit for period | 0 | 0 | (2,564) |
Net loss | (38,526) | (274,354) | (66,922) |
Amortization of prior service cost/(credit) | 35,377 | 37,002 | 41,425 |
Amortization of net loss | 1,430 | 13,729 | 21,905 |
Total | (4,579) | (251,081) | (49,966) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (10,172) | (237,993) | (24,363) |
Prior service cost | (17,563) | (35,377) | (37,002) |
Net loss | 800 | 1,430 | 13,729 |
Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 143,400 | 131,900 | |
Amortization of prior service credit | 58,800 | 51,900 | |
Net periodic pension costs | 22,600 | 24,400 | 37,600 |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 7,800,000 | 6,900,000 | |
Service cost - benefits earned during the period | 134,193 | 155,010 | 133,641 |
Interest cost | 293,114 | 267,415 | 260,824 |
Expected return on assets | (414,947) | (442,142) | (408,225) |
Amortization of prior service credit | 0 | 398 | 261 |
Recognized net loss | 241,117 | 274,104 | 227,720 |
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Remeasurement due to Settlement | (23,492) | (828) | 0 |
Net periodic pension costs | 276,969 | 255,613 | 214,221 |
Net loss | 614,600 | 394,951 | 368,067 |
Amortization of prior service cost/(credit) | 0 | (398) | (261) |
Amortization of net loss | 241,117 | 274,104 | 227,720 |
Total | 349,991 | 119,621 | 140,086 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 626,960 | 375,234 | 354,307 |
Prior service cost | 0 | 0 | 398 |
Net loss | 349,038 | 233,677 | 274,104 |
Entergy Arkansas [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 2,363 | 3,170 | 3,451 |
Interest cost | 7,226 | 7,986 | 9,020 |
Expected return on assets | (15,962) | (17,368) | (15,836) |
Amortization of prior service credit | (4,950) | (5,110) | (5,110) |
Recognized net loss | 576 | 1,154 | 4,460 |
Net periodic pension costs | (10,747) | (10,168) | (4,015) |
Net loss | (26,707) | (32,219) | (29,534) |
Amortization of prior service cost/(credit) | 4,950 | 5,110 | 5,110 |
Amortization of net loss | 576 | 1,154 | 4,460 |
Total | (22,333) | (28,263) | (28,884) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (33,080) | (38,431) | (32,899) |
Prior service cost | (3,174) | (4,950) | (5,110) |
Net loss | 4 | 576 | 1,154 |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 2,248 | 2,519 | |
Net periodic pension costs | 275 | 474 | 679 |
Entergy Arkansas [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 1,519,998 | 1,362,425 | |
Service cost - benefits earned during the period | 21,043 | 24,757 | 20,358 |
Interest cost | 56,701 | 52,017 | 51,776 |
Expected return on assets | (80,705) | (87,404) | (81,707) |
Recognized net loss | 47,361 | 53,650 | 46,560 |
Net periodic pension costs | 44,400 | 43,020 | 36,987 |
Net loss | 118,898 | 74,570 | 51,569 |
Amortization of net loss | 47,361 | 53,650 | 46,560 |
Total | 71,537 | 20,920 | 5,009 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 115,937 | 63,940 | 41,996 |
Net loss | 67,588 | 47,361 | 53,650 |
Entergy Louisiana [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 4,639 | 6,225 | 6,373 |
Interest cost | 10,664 | 11,154 | 12,101 |
Expected return on assets | 0 | 0 | 0 |
Amortization of prior service credit | (7,349) | (7,735) | (7,735) |
Recognized net loss | (695) | 1,550 | 1,859 |
Net periodic pension costs | 7,259 | 11,194 | 12,598 |
Net loss | (2,220) | (73,249) | (1,256) |
Amortization of prior service cost/(credit) | 7,349 | 7,735 | 7,735 |
Amortization of net loss | (695) | 1,550 | 1,859 |
Total | 5,824 | (67,064) | 4,620 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 13,083 | (55,870) | 17,218 |
Prior service cost | (3,142) | (7,349) | (7,735) |
Net loss | (1,030) | (695) | 1,550 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 1,682 | 1,881 | |
Net periodic pension costs | 159 | 180 | 185 |
Entergy Louisiana [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 1,643,759 | 1,481,158 | |
Service cost - benefits earned during the period | 29,137 | 33,783 | 27,698 |
Interest cost | 63,529 | 59,761 | 59,235 |
Expected return on assets | (90,607) | (99,236) | (92,067) |
Recognized net loss | 46,571 | 57,800 | 49,417 |
Net periodic pension costs | 48,630 | 52,108 | 44,283 |
Net loss | 99,346 | 41,642 | 57,510 |
Amortization of net loss | 46,571 | 57,800 | 49,417 |
Total | 52,775 | (16,158) | 8,093 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 101,405 | 35,950 | 52,376 |
Net loss | 66,509 | 46,571 | 57,800 |
Entergy Mississippi [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 1,046 | 1,284 | 1,160 |
Interest cost | 2,681 | 2,731 | 2,759 |
Expected return on assets | (4,794) | (5,213) | (4,801) |
Amortization of prior service credit | (1,756) | (1,823) | (1,823) |
Recognized net loss | 723 | 1,508 | 1,675 |
Net periodic pension costs | (2,100) | (1,513) | (1,030) |
Net loss | (11,950) | (7,794) | 506 |
Amortization of prior service cost/(credit) | 1,756 | 1,823 | 1,823 |
Amortization of net loss | 723 | 1,508 | 1,675 |
Total | (10,917) | (7,479) | 654 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (13,017) | (8,992) | (376) |
Prior service cost | (1,037) | (1,756) | (1,823) |
Net loss | 75 | 723 | 1,508 |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 2,938 | 2,427 | |
Net periodic pension costs | 326 | 300 | 251 |
Entergy Mississippi [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 438,817 | 387,635 | |
Service cost - benefits earned during the period | 6,516 | 7,286 | 5,890 |
Interest cost | 16,272 | 15,075 | 14,927 |
Expected return on assets | (23,873) | (26,007) | (24,526) |
Recognized net loss | 12,416 | 14,438 | 12,213 |
Net periodic pension costs | 11,331 | 10,792 | 8,504 |
Net loss | 41,088 | 19,244 | 14,681 |
Amortization of net loss | 12,416 | 14,438 | 12,213 |
Total | 28,672 | 4,806 | 2,468 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 40,003 | 15,598 | 10,972 |
Net loss | 18,994 | 12,416 | 14,438 |
Entergy New Orleans [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 367 | 516 | 567 |
Interest cost | 1,581 | 1,669 | 1,874 |
Expected return on assets | (4,947) | (5,250) | (4,635) |
Amortization of prior service credit | (682) | (745) | (745) |
Recognized net loss | 231 | 137 | 418 |
Net periodic pension costs | (3,450) | (3,673) | (2,521) |
Net loss | (10,967) | (981) | (7,342) |
Amortization of prior service cost/(credit) | 682 | 745 | 745 |
Amortization of net loss | 231 | 137 | 418 |
Total | (10,516) | (373) | (7,015) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (13,966) | (4,046) | (9,536) |
Prior service cost | 0 | (682) | (745) |
Net loss | (246) | 231 | 137 |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 230 | 206 | |
Net periodic pension costs | 20 | 81 | 73 |
Entergy New Orleans [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 192,561 | 179,907 | |
Service cost - benefits earned during the period | 2,274 | 2,693 | 2,500 |
Interest cost | 7,495 | 7,253 | 7,163 |
Expected return on assets | (10,785) | (11,973) | (11,199) |
Recognized net loss | 6,117 | 7,816 | 6,632 |
Net periodic pension costs | 5,101 | 5,789 | 5,096 |
Net loss | 6,531 | 2,351 | 8,601 |
Amortization of net loss | 6,117 | 7,816 | 6,632 |
Total | 414 | (5,465) | 1,969 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 5,515 | 324 | 7,065 |
Net loss | 8,018 | 6,117 | 7,816 |
Entergy Texas [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 943 | 1,319 | 1,488 |
Interest cost | 3,415 | 3,754 | 4,494 |
Expected return on assets | (9,103) | (9,784) | (8,720) |
Amortization of prior service credit | (2,243) | (2,316) | (2,316) |
Recognized net loss | 485 | 823 | 3,303 |
Net periodic pension costs | (6,503) | (6,204) | (1,751) |
Net loss | (6,406) | (10,561) | (22,255) |
Amortization of prior service cost/(credit) | 2,243 | 2,316 | 2,316 |
Amortization of net loss | 485 | 823 | 3,303 |
Total | (4,648) | (9,068) | (23,242) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (11,151) | (15,272) | (24,993) |
Prior service cost | (1,421) | (2,243) | (2,316) |
Net loss | 810 | 485 | 823 |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 7,391 | 7,724 | |
Net periodic pension costs | 481 | 650 | 499 |
Entergy Texas [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 371,589 | 347,852 | |
Service cost - benefits earned during the period | 5,401 | 6,356 | 5,455 |
Interest cost | 14,451 | 13,390 | 13,569 |
Expected return on assets | (23,447) | (26,091) | (24,722) |
Recognized net loss | 9,335 | 10,503 | 9,241 |
Net periodic pension costs | 5,740 | 4,158 | 3,543 |
Net loss | 10,869 | 24,121 | 1,109 |
Amortization of net loss | 9,335 | 10,503 | 9,241 |
Total | 1,534 | 13,618 | (8,132) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 7,274 | 17,776 | (4,589) |
Net loss | 13,060 | 9,335 | 10,503 |
System Energy [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 973 | 1,223 | 1,278 |
Interest cost | 1,902 | 1,998 | 2,236 |
Expected return on assets | (2,788) | (3,130) | (2,869) |
Amortization of prior service credit | (1,450) | (1,513) | (1,513) |
Recognized net loss | 354 | 932 | 1,560 |
Net periodic pension costs | (1,009) | (490) | 692 |
Net loss | (5,539) | (6,680) | (5,459) |
Amortization of prior service cost/(credit) | 1,450 | 1,513 | 1,513 |
Amortization of net loss | 354 | 932 | 1,560 |
Total | (4,443) | (6,099) | (5,506) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (5,452) | (6,589) | (4,814) |
Prior service cost | (747) | (1,450) | (1,513) |
Net loss | 51 | 354 | 932 |
System Energy [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated pension benefit obligation | 368,771 | 317,848 | |
Service cost - benefits earned during the period | 6,199 | 7,102 | 6,145 |
Interest cost | 13,456 | 12,907 | 12,364 |
Expected return on assets | (18,710) | (19,963) | (18,650) |
Recognized net loss | 11,400 | 14,859 | 11,857 |
Net periodic pension costs | 12,345 | 14,905 | 11,716 |
Net loss | 36,711 | (2,359) | 27,733 |
Amortization of net loss | 11,400 | 14,859 | 11,857 |
Total | 25,311 | (17,218) | 15,876 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 37,656 | (2,313) | 27,592 |
Net loss | $ 17,117 | $ 11,400 | $ 14,859 |
Retirement, Other Postretirem_5
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Amounts recognized in the balance sheet | |||
Current liabilities | $ (66,184) | $ (61,240) | |
Non-current liabilities | (2,798,265) | (2,616,085) | |
Other Postretirement Benefits Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 1,232,619 | 1,563,487 | |
Service cost | 18,699 | 27,129 | $ 26,915 |
Interest cost | 47,901 | 50,725 | 55,838 |
Actuarial (gain)/loss | 23,673 | (346,429) | |
Employee contributions | 38,640 | 37,049 | |
Benefits Paid | (109,223) | (99,785) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received (Deprecated 2017-01-31) | 594 | 443 | |
Balance at end of year | 1,252,903 | 1,232,619 | 1,563,487 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 609,782 | 659,327 | |
Actual return on plan assets | 100,445 | (30,582) | |
Employer contributions | 46,618 | 43,773 | |
Employee contributions | 38,640 | 37,049 | |
Benefits Paid | (109,223) | (99,785) | |
Fair value of assets at end of year | 686,262 | 609,782 | 659,327 |
Funded status | (566,641) | (622,837) | |
Amounts recognized in the balance sheet | |||
Current liabilities | (48,040) | (44,276) | |
Non-current liabilities | (518,601) | (578,561) | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan Regulatory Asset Net Prior Service Cost (Credit) Before Tax | (11,899) | (25,778) | |
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | 5,081 | (51,774) | |
Defined Benefit Plan Regulatory Asset Before Tax | 25,996 | ||
Defined Benefit Plan Regulatory Liability Before Tax | (16,980) | ||
Amounts recognized as AOCI (before tax) | |||
Prior service cost | (21,231) | (42,730) | |
Net loss | (16,670) | (33,569) | |
Accumulated other comprehensive income (before taxes) | (37,901) | (76,299) | |
Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 7,404,917 | 7,987,087 | |
Service cost | 134,193 | 155,010 | |
Interest cost | 293,114 | 267,415 | |
Actuarial (gain)/loss | 1,292,767 | (395,242) | |
Benefits Paid | (718,788) | (609,353) | |
Balance at end of year | 8,406,203 | 7,404,917 | 7,987,087 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 5,497,415 | 6,071,316 | |
Actual return on plan assets | 1,093,114 | (348,051) | |
Employer contributions | 399,419 | 383,503 | |
Benefits Paid | (718,788) | (609,353) | |
Fair value of assets at end of year | 6,271,160 | 5,497,415 | 6,071,316 |
Funded status | (2,135,043) | (1,907,502) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (2,135,043) | (1,907,502) | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | (2,831,408) | (2,468,987) | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 724,575 | 737,004 | |
Entergy Arkansas [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (319,075) | (313,295) | |
Entergy Arkansas [Member] | Other Postretirement Benefits Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 187,830 | 249,019 | |
Service cost | 2,363 | 3,170 | 3,451 |
Interest cost | 7,226 | 7,986 | 9,020 |
Actuarial (gain)/loss | 166 | (61,960) | |
Employee contributions | 8,125 | 8,136 | |
Benefits Paid | (20,048) | (18,581) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received (Deprecated 2017-01-31) | 82 | 60 | |
Balance at end of year | 185,744 | 187,830 | 249,019 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 252,055 | 274,678 | |
Actual return on plan assets | 42,835 | (12,373) | |
Employer contributions | 1,257 | 195 | |
Employee contributions | 8,125 | 8,136 | |
Benefits Paid | (20,048) | (18,581) | |
Fair value of assets at end of year | 284,224 | 252,055 | 274,678 |
Funded status | 98,480 | 64,225 | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Assets for Plan Benefits, Defined Benefit Plan | 98,480 | 64,225 | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan Regulatory Asset Net Prior Service Cost (Credit) Before Tax | (6,515) | (11,465) | |
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | 18,262 | (9,021) | |
Defined Benefit Plan Regulatory Liability Before Tax | (24,777) | (2,444) | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Entergy Arkansas [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 1,443,808 | 1,580,756 | |
Service cost | 21,043 | 24,757 | |
Interest cost | 56,701 | 52,017 | |
Actuarial (gain)/loss | 248,213 | (79,621) | |
Benefits Paid | (154,681) | (134,101) | |
Balance at end of year | 1,615,084 | 1,443,808 | 1,580,756 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 1,068,842 | 1,205,668 | |
Actual return on plan assets | 210,020 | (66,787) | |
Employer contributions | 75,854 | 64,062 | |
Benefits Paid | (154,681) | (134,101) | |
Fair value of assets at end of year | 1,200,035 | 1,068,842 | 1,205,668 |
Funded status | (415,049) | (374,966) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (415,049) | (374,966) | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | (799,235) | (727,703) | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy Louisiana [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (677,619) | (643,171) | |
Entergy Louisiana [Member] | Other Postretirement Benefits Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 275,269 | 345,389 | |
Service cost | 4,639 | 6,225 | 6,373 |
Interest cost | 10,664 | 11,154 | 12,101 |
Actuarial (gain)/loss | (2,220) | (73,249) | |
Employee contributions | 8,876 | 8,162 | |
Benefits Paid | (23,160) | (22,476) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received (Deprecated 2017-01-31) | 107 | 64 | |
Balance at end of year | 274,175 | 275,269 | 345,389 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Employer contributions | 14,284 | 14,314 | |
Employee contributions | 8,876 | 8,162 | |
Benefits Paid | (23,160) | (22,476) | |
Fair value of assets at end of year | 0 | 0 | 0 |
Funded status | (274,175) | (275,269) | |
Amounts recognized in the balance sheet | |||
Current liabilities | (18,467) | (17,740) | |
Non-current liabilities | (255,708) | (257,529) | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan Regulatory Asset Net Prior Service Cost (Credit) Before Tax | 0 | 0 | |
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | 0 | 0 | |
Defined Benefit Plan Regulatory Asset Before Tax | 0 | 0 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | (4,915) | (12,264) | |
Net loss | (24,739) | (23,214) | |
Accumulated other comprehensive income (before taxes) | (29,654) | (35,478) | |
Entergy Louisiana [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 1,599,916 | 1,785,700 | |
Service cost | 29,137 | 33,783 | |
Interest cost | 63,529 | 59,761 | |
Actuarial (gain)/loss | 248,509 | (133,520) | |
Benefits Paid | (156,617) | (145,808) | |
Balance at end of year | 1,784,474 | 1,599,916 | 1,785,700 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 1,215,926 | 1,365,741 | |
Actual return on plan assets | 239,770 | (75,926) | |
Employer contributions | 64,951 | 71,919 | |
Benefits Paid | (156,617) | (145,808) | |
Fair value of assets at end of year | 1,364,030 | 1,215,926 | 1,365,741 |
Funded status | (420,444) | (383,990) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (420,444) | (383,990) | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | (759,228) | (686,138) | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 23,481 | 43,796 | |
Entergy Mississippi [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (99,406) | (93,100) | |
Entergy Mississippi [Member] | Other Postretirement Benefits Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 68,976 | 84,621 | |
Service cost | 1,046 | 1,284 | 1,160 |
Interest cost | 2,681 | 2,731 | 2,759 |
Actuarial (gain)/loss | (3,778) | (16,762) | |
Employee contributions | 2,197 | 2,233 | |
Benefits Paid | (5,159) | (5,145) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received (Deprecated 2017-01-31) | 16 | 14 | |
Balance at end of year | 65,979 | 68,976 | 84,621 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 75,853 | 82,433 | |
Actual return on plan assets | 12,966 | (3,755) | |
Employer contributions | 228 | 87 | |
Employee contributions | 2,197 | 2,233 | |
Benefits Paid | (5,159) | (5,145) | |
Fair value of assets at end of year | 86,085 | 75,853 | 82,433 |
Funded status | 20,106 | 6,877 | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Assets for Plan Benefits, Defined Benefit Plan | 20,106 | 6,877 | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan Regulatory Asset Net Prior Service Cost (Credit) Before Tax | (3,108) | (4,864) | |
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | (3,272) | (15,945) | |
Defined Benefit Plan Regulatory Asset Before Tax | 164 | 11,081 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Entergy Mississippi [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 414,089 | 457,549 | |
Service cost | 6,516 | 7,286 | |
Interest cost | 16,272 | 15,075 | |
Actuarial (gain)/loss | 79,453 | (26,611) | |
Benefits Paid | (44,820) | (39,210) | |
Balance at end of year | 471,510 | 414,089 | 457,549 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 316,716 | 360,842 | |
Actual return on plan assets | 62,238 | (19,849) | |
Employer contributions | 20,794 | 14,933 | |
Benefits Paid | (44,820) | (39,210) | |
Fair value of assets at end of year | 354,928 | 316,716 | 360,842 |
Funded status | (116,582) | (97,373) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (116,582) | (97,373) | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | (225,354) | (196,683) | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy New Orleans [Member] | Other Postretirement Benefits Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 41,987 | 53,548 | |
Service cost | 367 | 516 | 567 |
Interest cost | 1,581 | 1,669 | 1,874 |
Actuarial (gain)/loss | (4,234) | (10,847) | |
Employee contributions | 1,343 | 1,171 | |
Benefits Paid | (2,598) | (4,078) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received (Deprecated 2017-01-31) | 14 | 8 | |
Balance at end of year | 38,460 | 41,987 | 53,548 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 81,774 | 85,504 | |
Actual return on plan assets | 11,680 | (4,616) | |
Employer contributions | 1,659 | 3,793 | |
Employee contributions | 1,343 | 1,171 | |
Benefits Paid | (2,598) | (4,078) | |
Fair value of assets at end of year | 93,858 | 81,774 | 85,504 |
Funded status | 55,398 | 39,787 | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Assets for Plan Benefits, Defined Benefit Plan | 55,398 | 39,787 | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan Regulatory Asset Net Prior Service Cost (Credit) Before Tax | 0 | (681) | |
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | 8,046 | (3,151) | |
Defined Benefit Plan Regulatory Asset Before Tax | 2,470 | ||
Defined Benefit Plan Regulatory Liability Before Tax | (8,046) | ||
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Entergy New Orleans [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 191,190 | 217,896 | |
Service cost | 2,274 | 2,693 | |
Interest cost | 7,495 | 7,253 | |
Actuarial (gain)/loss | 24,299 | (18,844) | |
Benefits Paid | (18,296) | (17,808) | |
Balance at end of year | 206,962 | 191,190 | 217,896 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 145,968 | 165,747 | |
Actual return on plan assets | 28,552 | (9,221) | |
Employer contributions | 4,553 | 7,250 | |
Benefits Paid | (18,296) | (17,808) | |
Fair value of assets at end of year | 160,777 | 145,968 | 165,747 |
Funded status | (46,185) | (45,222) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (46,185) | (45,222) | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | (91,862) | (91,448) | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy Texas [Member] | Other Postretirement Benefits Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 88,310 | 116,702 | |
Service cost | 943 | 1,319 | 1,488 |
Interest cost | 3,415 | 3,754 | 4,494 |
Actuarial (gain)/loss | 8,279 | (27,527) | |
Employee contributions | 2,602 | 2,565 | |
Benefits Paid | (8,830) | (8,516) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received (Deprecated 2017-01-31) | 23 | 13 | |
Balance at end of year | 94,742 | 88,310 | 116,702 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 144,846 | 154,171 | |
Actual return on plan assets | 23,788 | (7,182) | |
Employer contributions | 3,808 | ||
Defined Benefit Plan Refund to Employer | (596) | ||
Employee contributions | 2,602 | 2,565 | |
Benefits Paid | (8,830) | (8,516) | |
Fair value of assets at end of year | 161,810 | 144,846 | 154,171 |
Funded status | 67,068 | 56,536 | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Assets for Plan Benefits, Defined Benefit Plan | 67,068 | 56,536 | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan Regulatory Asset Net Prior Service Cost (Credit) Before Tax | (1,422) | (3,665) | |
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | (6,203) | (13,094) | |
Defined Benefit Plan Regulatory Asset Before Tax | 4,781 | 9,429 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Entergy Texas [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 369,604 | 410,720 | |
Service cost | 5,401 | 6,356 | |
Interest cost | 14,451 | 13,390 | |
Actuarial (gain)/loss | 49,235 | (21,656) | |
Benefits Paid | (41,927) | (39,206) | |
Balance at end of year | 396,764 | 369,604 | 410,720 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 315,514 | 363,523 | |
Actual return on plan assets | 61,814 | (19,686) | |
Employer contributions | 3,725 | 10,883 | |
Benefits Paid | (41,927) | (39,206) | |
Fair value of assets at end of year | 339,126 | 315,514 | 363,523 |
Funded status | (57,638) | (54,090) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (57,638) | (54,090) | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | (160,564) | (159,030) | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
System Energy [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (109,816) | (98,639) | |
System Energy [Member] | Other Postretirement Benefits Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 48,791 | 61,381 | |
Service cost | 973 | 1,223 | 1,278 |
Interest cost | 1,902 | 1,998 | 2,236 |
Actuarial (gain)/loss | (891) | (11,985) | |
Employee contributions | 1,765 | 1,837 | |
Benefits Paid | (5,229) | (5,685) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received (Deprecated 2017-01-31) | 37 | 22 | |
Balance at end of year | 47,348 | 48,791 | 61,381 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 43,670 | 49,124 | |
Actual return on plan assets | 7,436 | (2,175) | |
Employer contributions | 829 | 569 | |
Employee contributions | 1,765 | 1,837 | |
Benefits Paid | (5,229) | (5,685) | |
Fair value of assets at end of year | 48,471 | 43,670 | 49,124 |
Funded status | 1,123 | (5,121) | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Assets for Plan Benefits, Defined Benefit Plan | 1,123 | ||
Non-current liabilities | (5,121) | ||
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan Regulatory Asset Net Prior Service Cost (Credit) Before Tax | (854) | (2,304) | |
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | (2,881) | (8,774) | |
Defined Benefit Plan Regulatory Asset Before Tax | 2,027 | 6,470 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
System Energy [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 339,034 | 384,049 | |
Service cost | 6,199 | 7,102 | |
Interest cost | 13,456 | 12,907 | |
Actuarial (gain)/loss | 66,460 | (37,842) | |
Benefits Paid | (31,542) | (27,182) | |
Balance at end of year | 393,607 | 339,034 | 384,049 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 245,516 | 274,432 | |
Actual return on plan assets | 48,460 | (15,520) | |
Employer contributions | 20,234 | 13,786 | |
Benefits Paid | (31,542) | (27,182) | |
Fair value of assets at end of year | 282,668 | 245,516 | $ 274,432 |
Funded status | (110,939) | (93,518) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (110,939) | (93,518) | |
Amounts recognized as a regulatory asset (before tax) [Abstract] | |||
Defined Benefit Plan, Regulatory Asset, Gain (Loss) before Tax | (193,870) | (168,559) | |
Amounts recognized as AOCI (before tax) | |||
Net loss | $ 0 | $ 0 |
Retirement, Other Postretirem_6
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Projected Benefit Obligations) (Details) - Non-Qualified Pension Plans [Member] - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Projected Benefit Obligation | $ 162,800 | $ 147,000 |
Accumulated pension benefit obligation | 143,400 | 131,900 |
Entergy Arkansas [Member] | ||
Projected Benefit Obligation | 2,755 | 2,752 |
Accumulated pension benefit obligation | 2,248 | 2,519 |
Entergy Louisiana [Member] | ||
Projected Benefit Obligation | 1,682 | 1,881 |
Accumulated pension benefit obligation | 1,682 | 1,881 |
Entergy Mississippi [Member] | ||
Projected Benefit Obligation | 3,286 | 2,732 |
Accumulated pension benefit obligation | 2,938 | 2,427 |
Entergy New Orleans [Member] | ||
Projected Benefit Obligation | 231 | 206 |
Accumulated pension benefit obligation | 230 | 206 |
Entergy Texas [Member] | ||
Projected Benefit Obligation | 7,783 | 7,952 |
Accumulated pension benefit obligation | $ 7,391 | $ 7,724 |
Retirement, Other Postretirem_7
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Accumulated Benefit Obligations) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | $ 7,800,000 | $ 6,900,000 |
Non-Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 143,400 | 131,900 |
Entergy Arkansas [Member] | Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 1,519,998 | 1,362,425 |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 2,248 | 2,519 |
Entergy Louisiana [Member] | Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 1,643,759 | 1,481,158 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 1,682 | 1,881 |
Entergy Mississippi [Member] | Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 438,817 | 387,635 |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 2,938 | 2,427 |
Entergy New Orleans [Member] | Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 192,561 | 179,907 |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 230 | 206 |
Entergy Texas [Member] | Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 371,589 | 347,852 |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | 7,391 | 7,724 |
System Energy [Member] | Qualified Pension Plans [Member] | ||
Accumulated pension benefit obligation | $ 368,771 | $ 317,848 |
Retirement, Other Postretirem_8
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Amounts Recorded On The Balance Sheet) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Current liabilities | $ (66,184) | $ (61,240) |
Non-current liabilities | (2,798,265) | (2,616,085) |
Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 143,400 | 131,900 |
Accumulated other comprehensive income (before taxes) | 24,900 | 19,200 |
Entergy Arkansas [Member] | ||
Non-current liabilities | (319,075) | (313,295) |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 2,248 | 2,519 |
Current liabilities | (249) | (198) |
Non-current liabilities | (2,506) | (2,554) |
Total funded status | (2,755) | (2,752) |
Assets for Plan Benefits, Defined Benefit Plan | 1,232 | 1,314 |
Accumulated other comprehensive income (before taxes) | 0 | |
Entergy Louisiana [Member] | ||
Non-current liabilities | (677,619) | (643,171) |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 1,682 | 1,881 |
Current liabilities | (216) | (229) |
Non-current liabilities | (1,467) | (1,652) |
Total funded status | (1,683) | (1,881) |
Assets for Plan Benefits, Defined Benefit Plan | 3 | 79 |
Accumulated other comprehensive income (before taxes) | 5 | |
Entergy Mississippi [Member] | ||
Non-current liabilities | (99,406) | (93,100) |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 2,938 | 2,427 |
Current liabilities | (357) | (128) |
Non-current liabilities | (2,930) | (2,604) |
Total funded status | (3,287) | (2,732) |
Assets for Plan Benefits, Defined Benefit Plan | 1,432 | 1,009 |
Accumulated other comprehensive income (before taxes) | 0 | |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 230 | 206 |
Current liabilities | (17) | (16) |
Non-current liabilities | (215) | (191) |
Total funded status | (232) | (207) |
Liability, Defined Benefit Pension Plan | (559) | (579) |
Accumulated other comprehensive income (before taxes) | 0 | |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 7,391 | 7,724 |
Current liabilities | (723) | (672) |
Non-current liabilities | (7,060) | (7,280) |
Total funded status | (7,783) | (7,952) |
Liability, Defined Benefit Pension Plan | (603) | (517) |
Accumulated other comprehensive income (before taxes) | 0 | |
System Energy [Member] | ||
Non-current liabilities | $ (109,816) | $ (98,639) |
Retirement, Other Postretirem_9
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, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | $ 21,300 | $ 21,700 |
Amortization of loss | (83,246) | (99,186) |
Settlement loss | (25,155) | (3,207) |
Total | (87,101) | (80,693) |
Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | (198) | (281) |
Amortization of loss | (2,192) | (3,628) |
Settlement loss | (1,697) | (2,379) |
Total | (4,087) | (6,288) |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 0 | (398) |
Amortization of loss | (82,284) | (87,828) |
Settlement loss | (23,458) | (828) |
Total | (105,742) | (89,054) |
Other Postretirement Benefits Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 21,498 | 22,379 |
Amortization of loss | 1,230 | (7,730) |
Settlement loss | 0 | 0 |
Total | 22,728 | 14,649 |
Entergy Louisiana [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 7,349 | 7,735 |
Amortization of loss | (2,106) | (5,025) |
Total | 5,243 | 2,710 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 0 | 0 |
Amortization of loss | (6) | (7) |
Total | (6) | (7) |
Entergy Louisiana [Member] | Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 0 | 0 |
Amortization of loss | (2,795) | (3,468) |
Total | (2,795) | (3,468) |
Entergy Louisiana [Member] | Other Postretirement Benefits Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 7,349 | 7,735 |
Amortization of loss | 695 | (1,550) |
Total | $ 8,044 | $ 6,185 |
Retirement, Other Postretire_10
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Plan Assets, Asset Allocations Targets) (Details) | Dec. 31, 2019 | Dec. 31, 2018 |
Domestic Equity Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 27.00% | |
Postretirement Asset Allocation | 29.00% | 27.00% |
Domestic Equity Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 22.00% | |
Domestic Equity Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 32.00% | |
International Equity Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 18.00% | |
Postretirement Asset Allocation | 18.00% | 17.00% |
International Equity Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 13.00% | |
International Equity Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 23.00% | |
Fixed Income Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 55.00% | |
Postretirement Asset Allocation | 53.00% | 56.00% |
Fixed Income Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 50.00% | |
Fixed Income Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 60.00% | |
Other Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 0.00% | |
Postretirement Asset Allocation | 0.00% | 0.00% |
Other Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 0.00% | |
Other Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 5.00% | |
Qualified Pension Plans [Member] | Domestic Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 39.00% | |
Postretirement Asset Allocation | 39.00% | 40.00% |
Qualified Pension Plans [Member] | Domestic Equity Securities [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 32.00% | |
Qualified Pension Plans [Member] | Domestic Equity Securities [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 46.00% | |
Qualified Pension Plans [Member] | International Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 19.00% | |
Postretirement Asset Allocation | 19.00% | 18.00% |
Qualified Pension Plans [Member] | International Equity Securities [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 15.00% | |
Qualified Pension Plans [Member] | International Equity Securities [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 23.00% | |
Qualified Pension Plans [Member] | Fixed Income Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 42.00% | |
Postretirement Asset Allocation | 41.00% | 41.00% |
Qualified Pension Plans [Member] | Fixed Income Securities [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 39.00% | |
Qualified Pension Plans [Member] | Fixed Income Securities [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 45.00% | |
Qualified Pension Plans [Member] | Other Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 0.00% | |
Postretirement Asset Allocation | 1.00% | 1.00% |
Qualified Pension Plans [Member] | Other Securities [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 0.00% | |
Qualified Pension Plans [Member] | Other Securities [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 10.00% |
Retirement, Other Postretire_11
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 7,800,000 | $ 6,900,000 | |
Investments | 6,358,874 | 5,544,060 | |
Cash | 1,407 | 2,591 | |
Other pending transactions | (22,549) | 5,956 | |
Less: Other postretirement assets included in total investments | (66,572) | (55,192) | |
Defined Benefit Plan, Plan Assets, Amount | 6,271,160 | 5,497,415 | |
Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 7,715 | ||
Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 10,379 | 8,250 | |
Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 857,159 | 695,003 | |
Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 2,698,697 | 2,408,053 | |
Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 805,671 | 675,880 | |
Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 762,577 | 619,310 | |
Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 132,389 | 108,740 | |
Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 1,008,371 | 931,439 | |
Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 43,179 | 50,348 | |
Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 40,452 | 39,322 | |
Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 618,045 | 553,353 | |
Other pending transactions | 1,645 | 1,237 | |
Plus: Other postretirement assets included in the investments of the qualified pension trust | 66,572 | 55,192 | |
Defined Benefit Plan, Plan Assets, Amount | 686,262 | 609,782 | $ 659,327 |
Other Postretirement Benefits Plan [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 289,398 | 244,729 | |
Other Postretirement Benefits Plan [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 139,227 | 143,213 | |
Other Postretirement Benefits Plan [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 130,333 | 105,989 | |
Other Postretirement Benefits Plan [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 1,877 | 2,442 | |
Other Postretirement Benefits Plan [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 57,210 | 56,980 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 1,053,842 | 843,233 | |
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 | 10,379 | 8,250 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 857,159 | 695,003 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | |||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 132,389 | 108,740 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 53,842 | 29,374 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 73 | 1,866 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 51,807 | 65,616 | |
Fair Value Inputs Level 1 [Member] | Other Postretirement Benefits Plan [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 49,930 | 63,174 | |
Fair Value Inputs Level 1 [Member] | Other Postretirement Benefits Plan [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Other Postretirement Benefits Plan [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 1,877 | 2,442 | |
Fair Value Inputs Level 1 [Member] | Other Postretirement Benefits Plan [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 1,654,709 | 1,393,406 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 7,715 | ||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | |||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 805,671 | 675,880 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 762,577 | 619,310 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 2,903 | 2,697 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 43,106 | 48,482 | |
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 | 40,452 | 39,322 | |
Fair Value Inputs Level 2 [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 276,840 | 243,008 | |
Fair Value Inputs Level 2 [Member] | Other Postretirement Benefits Plan [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 89,297 | 80,039 | |
Fair Value Inputs Level 2 [Member] | Other Postretirement Benefits Plan [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 130,333 | 105,989 | |
Fair Value Inputs Level 2 [Member] | Other Postretirement Benefits Plan [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Other Postretirement Benefits Plan [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 57,210 | 56,980 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | ||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | |||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Other Postretirement Benefits Plan [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Other Postretirement Benefits Plan [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Other Postretirement Benefits Plan [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Other Postretirement Benefits Plan [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | $ 0 | $ 0 |
Retirement, Other Postretire_12
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Estimated Future Benefit Payments) (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | $ 359 |
Estimated Future Medicare Subsidy Receipts, Year Two | 398 |
Estimated Future Medicare Subsidy Receipts, Year Three | 446 |
Estimated Future Medicare Subsidy Receipts, Year Four | 491 |
Estimated Future Medicare Subsidy Receipts, Year Five | 539 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 3,402 |
Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 548,493 |
Estimated Future Benefits Payments, Year Two | 543,704 |
Estimated Future Benefits Payments, Year Three | 549,488 |
Estimated Future Benefits Payments, Year Four | 550,184 |
Estimated Future Benefits Payments, Year Five | 554,602 |
Estimated Future Benefits Payments, Year Six - Year Ten | 2,604,810 |
Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 18,144 |
Estimated Future Benefits Payments, Year Two | 15,724 |
Estimated Future Benefits Payments, Year Three | 20,421 |
Estimated Future Benefits Payments, Year Four | 19,720 |
Estimated Future Benefits Payments, Year Five | 15,142 |
Estimated Future Benefits Payments, Year Six - Year Ten | 65,010 |
Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 81,100 |
Estimated Future Benefits Payments, Year Two | 82,207 |
Estimated Future Benefits Payments, Year Three | 82,619 |
Estimated Future Benefits Payments, Year Four | 82,044 |
Estimated Future Benefits Payments, Year Five | 80,649 |
Estimated Future Benefits Payments, Year Six - Year Ten | 373,404 |
Entergy Arkansas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 78 |
Estimated Future Medicare Subsidy Receipts, Year Two | 86 |
Estimated Future Medicare Subsidy Receipts, Year Three | 95 |
Estimated Future Medicare Subsidy Receipts, Year Four | 104 |
Estimated Future Medicare Subsidy Receipts, Year Five | 111 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 685 |
Entergy Arkansas [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 117,460 |
Estimated Future Benefits Payments, Year Two | 112,562 |
Estimated Future Benefits Payments, Year Three | 112,749 |
Estimated Future Benefits Payments, Year Four | 110,326 |
Estimated Future Benefits Payments, Year Five | 108,186 |
Estimated Future Benefits Payments, Year Six - Year Ten | 512,732 |
Entergy Arkansas [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 249 |
Estimated Future Benefits Payments, Year Two | 278 |
Estimated Future Benefits Payments, Year Three | 340 |
Estimated Future Benefits Payments, Year Four | 269 |
Estimated Future Benefits Payments, Year Five | 235 |
Estimated Future Benefits Payments, Year Six - Year Ten | 1,152 |
Entergy Arkansas [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 13,088 |
Estimated Future Benefits Payments, Year Two | 13,074 |
Estimated Future Benefits Payments, Year Three | 12,801 |
Estimated Future Benefits Payments, Year Four | 12,450 |
Estimated Future Benefits Payments, Year Five | 12,155 |
Estimated Future Benefits Payments, Year Six - Year Ten | 55,553 |
Entergy Louisiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 78 |
Estimated Future Medicare Subsidy Receipts, Year Two | 87 |
Estimated Future Medicare Subsidy Receipts, Year Three | 95 |
Estimated Future Medicare Subsidy Receipts, Year Four | 104 |
Estimated Future Medicare Subsidy Receipts, Year Five | 114 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 719 |
Entergy Louisiana [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 123,520 |
Estimated Future Benefits Payments, Year Two | 124,235 |
Estimated Future Benefits Payments, Year Three | 124,692 |
Estimated Future Benefits Payments, Year Four | 123,347 |
Estimated Future Benefits Payments, Year Five | 122,228 |
Estimated Future Benefits Payments, Year Six - Year Ten | 574,928 |
Entergy Louisiana [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 216 |
Estimated Future Benefits Payments, Year Two | 200 |
Estimated Future Benefits Payments, Year Three | 184 |
Estimated Future Benefits Payments, Year Four | 168 |
Estimated Future Benefits Payments, Year Five | 154 |
Estimated Future Benefits Payments, Year Six - Year Ten | 574 |
Entergy Louisiana [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 18,545 |
Estimated Future Benefits Payments, Year Two | 18,703 |
Estimated Future Benefits Payments, Year Three | 18,754 |
Estimated Future Benefits Payments, Year Four | 18,588 |
Estimated Future Benefits Payments, Year Five | 18,087 |
Estimated Future Benefits Payments, Year Six - Year Ten | 84,395 |
Entergy Mississippi [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 27 |
Estimated Future Medicare Subsidy Receipts, Year Two | 28 |
Estimated Future Medicare Subsidy Receipts, Year Three | 31 |
Estimated Future Medicare Subsidy Receipts, Year Four | 32 |
Estimated Future Medicare Subsidy Receipts, Year Five | 35 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 205 |
Entergy Mississippi [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 37,805 |
Estimated Future Benefits Payments, Year Two | 36,552 |
Estimated Future Benefits Payments, Year Three | 35,779 |
Estimated Future Benefits Payments, Year Four | 34,984 |
Estimated Future Benefits Payments, Year Five | 33,842 |
Estimated Future Benefits Payments, Year Six - Year Ten | 152,681 |
Entergy Mississippi [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 357 |
Estimated Future Benefits Payments, Year Two | 335 |
Estimated Future Benefits Payments, Year Three | 329 |
Estimated Future Benefits Payments, Year Four | 301 |
Estimated Future Benefits Payments, Year Five | 356 |
Estimated Future Benefits Payments, Year Six - Year Ten | 1,510 |
Entergy Mississippi [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 4,046 |
Estimated Future Benefits Payments, Year Two | 4,205 |
Estimated Future Benefits Payments, Year Three | 4,261 |
Estimated Future Benefits Payments, Year Four | 4,249 |
Estimated Future Benefits Payments, Year Five | 4,250 |
Estimated Future Benefits Payments, Year Six - Year Ten | 20,672 |
Entergy New Orleans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 15 |
Estimated Future Medicare Subsidy Receipts, Year Two | 15 |
Estimated Future Medicare Subsidy Receipts, Year Three | 17 |
Estimated Future Medicare Subsidy Receipts, Year Four | 17 |
Estimated Future Medicare Subsidy Receipts, Year Five | 17 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 94 |
Entergy New Orleans [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 14,865 |
Estimated Future Benefits Payments, Year Two | 14,598 |
Estimated Future Benefits Payments, Year Three | 14,628 |
Estimated Future Benefits Payments, Year Four | 14,472 |
Estimated Future Benefits Payments, Year Five | 14,028 |
Estimated Future Benefits Payments, Year Six - Year Ten | 64,517 |
Entergy New Orleans [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 17 |
Estimated Future Benefits Payments, Year Two | 17 |
Estimated Future Benefits Payments, Year Three | 17 |
Estimated Future Benefits Payments, Year Four | 21 |
Estimated Future Benefits Payments, Year Five | 19 |
Estimated Future Benefits Payments, Year Six - Year Ten | 102 |
Entergy New Orleans [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 3,384 |
Estimated Future Benefits Payments, Year Two | 3,255 |
Estimated Future Benefits Payments, Year Three | 3,112 |
Estimated Future Benefits Payments, Year Four | 2,997 |
Estimated Future Benefits Payments, Year Five | 2,864 |
Estimated Future Benefits Payments, Year Six - Year Ten | 12,151 |
Entergy Texas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 28 |
Estimated Future Medicare Subsidy Receipts, Year Two | 31 |
Estimated Future Medicare Subsidy Receipts, Year Three | 32 |
Estimated Future Medicare Subsidy Receipts, Year Four | 35 |
Estimated Future Medicare Subsidy Receipts, Year Five | 38 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 222 |
Entergy Texas [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 33,558 |
Estimated Future Benefits Payments, Year Two | 32,552 |
Estimated Future Benefits Payments, Year Three | 32,041 |
Estimated Future Benefits Payments, Year Four | 30,992 |
Estimated Future Benefits Payments, Year Five | 29,124 |
Estimated Future Benefits Payments, Year Six - Year Ten | 127,736 |
Entergy Texas [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 723 |
Estimated Future Benefits Payments, Year Two | 817 |
Estimated Future Benefits Payments, Year Three | 756 |
Estimated Future Benefits Payments, Year Four | 844 |
Estimated Future Benefits Payments, Year Five | 721 |
Estimated Future Benefits Payments, Year Six - Year Ten | 2,970 |
Entergy Texas [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 6,292 |
Estimated Future Benefits Payments, Year Two | 6,468 |
Estimated Future Benefits Payments, Year Three | 6,520 |
Estimated Future Benefits Payments, Year Four | 6,446 |
Estimated Future Benefits Payments, Year Five | 6,239 |
Estimated Future Benefits Payments, Year Six - Year Ten | 29,004 |
System Energy [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 13 |
Estimated Future Medicare Subsidy Receipts, Year Two | 14 |
Estimated Future Medicare Subsidy Receipts, Year Three | 16 |
Estimated Future Medicare Subsidy Receipts, Year Four | 19 |
Estimated Future Medicare Subsidy Receipts, Year Five | 22 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 152 |
System Energy [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 26,332 |
Estimated Future Benefits Payments, Year Two | 26,529 |
Estimated Future Benefits Payments, Year Three | 26,996 |
Estimated Future Benefits Payments, Year Four | 27,040 |
Estimated Future Benefits Payments, Year Five | 26,696 |
Estimated Future Benefits Payments, Year Six - Year Ten | 127,243 |
System Energy [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 2,932 |
Estimated Future Benefits Payments, Year Two | 3,044 |
Estimated Future Benefits Payments, Year Three | 3,055 |
Estimated Future Benefits Payments, Year Four | 2,990 |
Estimated Future Benefits Payments, Year Five | 2,893 |
Estimated Future Benefits Payments, Year Six - Year Ten | $ 13,110 |
Retirement, Other Postretire_13
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Expected Employer Contributions) (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Other Postretirement Benefits Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | $ 49,100 |
Entergy Arkansas [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 32,512 |
Entergy Arkansas [Member] | Other Postretirement Benefits Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 509 |
Entergy Louisiana [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 38,766 |
Entergy Louisiana [Member] | Other Postretirement Benefits Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 18,545 |
Entergy Mississippi [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 7,768 |
Entergy Mississippi [Member] | Other Postretirement Benefits Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 130 |
Entergy New Orleans [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 3,248 |
Entergy New Orleans [Member] | Other Postretirement Benefits Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 162 |
Entergy Texas [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 3,549 |
Entergy Texas [Member] | Other Postretirement Benefits Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 61 |
System Energy [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 10,544 |
System Energy [Member] | Other Postretirement Benefits Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | $ 21 |
Retirement, Other Postretire_14
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Actuarial Assumptions Used In Determining Pension And Other Postretirement Benefit Obligation) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 143.4 | $ 131.9 | |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 7,800 | $ 6,900 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | ||
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.75% | 4.75% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Pre-65 Retirees [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assumed health care cost trend rate | 6.13% | 6.59% | |
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate | 2027 | 2027 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Post - 65 Retirees [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assumed health care cost trend rate | 6.25% | 7.15% | |
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate | 2027 | 2026 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate | 2.72% | 3.98% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Blended weighted-average discount rate | 3.39% | 4.47% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate | 3.26% | 4.42% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Minimum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | ||
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Minimum [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate | 3.26% | 4.37% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average rate of increase in future compensation levels | 4.40% | ||
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Maximum [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate | 3.43% | 4.52% | |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | 3.98% | 3.98% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.75% | 4.75% | 4.75% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Pre-65 Retirees [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assumed health care cost trend rate | 6.59% | 6.95% | 6.55% |
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate | 2027 | 2027 | 2026 |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Post - 65 Retirees [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assumed health care cost trend rate | 7.15% | 7.25% | 7.25% |
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate | 2026 | 2027 | 2026 |
Other Postretirement Non Taxable Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Minimum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 6.50% | 6.50% | 6.50% |
Other Postretirement Non Taxable Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 7.25% | 7.50% | 7.50% |
Retirement, Other Postretire_15
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Actuarial Assumptions Used In Determining Net Periodic And Other Postretirement Benefit Obligation) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 143.4 | $ 131.9 | |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 7,800 | $ 6,900 | |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | 3.98% | 3.98% |
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 | 6.59% | 6.95% | 6.55% |
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate | 2027 | 2027 | 2026 |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Post - 65 Retirees [Member] | |||
Assumed health care cost trend rate | 7.15% | 7.25% | 7.25% |
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate | 2026 | 2027 | 2026 |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Non-Qualified Pension Plans [Member] | Service Cost [Member] | |||
Weighted-average discount rate | 3.94% | 3.35% | 3.65% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Non-Qualified Pension Plans [Member] | Interest Cost [Member] | |||
Weighted-average discount rate | 3.46% | 2.76% | 3.10% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Qualified Pension Plans [Member] | Service Cost [Member] | |||
Weighted-average discount rate | 4.57% | 3.89% | 4.75% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Qualified Pension Plans [Member] | Interest Cost [Member] | |||
Weighted-average discount rate | 4.15% | 3.44% | 3.73% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Other Postretirement Benefits Plan [Member] | Service Cost [Member] | |||
Weighted-average discount rate | 4.62% | 3.88% | 4.60% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Other Postretirement Benefits Plan [Member] | Interest Cost [Member] | |||
Weighted-average discount rate | 4.01% | 3.33% | 3.61% |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | ||
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 | 6.13% | 6.59% | |
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate | 2027 | 2027 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Post - 65 Retirees [Member] | |||
Assumed health care cost trend rate | 6.25% | 7.15% | |
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate | 2027 | 2026 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Non-Qualified Pension Plans [Member] | |||
Weighted-average discount rate | 2.72% | 3.98% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Qualified Pension Plans [Member] | |||
Blended weighted-average discount rate | 3.39% | 4.47% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Other Postretirement Benefits Plan [Member] | |||
Weighted-average discount rate | 3.26% | 4.42% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Minimum [Member] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | ||
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Minimum [Member] | Qualified Pension Plans [Member] | |||
Weighted-average discount rate | 3.26% | 4.37% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Maximum [Member] | |||
Weighted-average rate of increase in future compensation levels | 4.40% | ||
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Maximum [Member] | Qualified Pension Plans [Member] | |||
Weighted-average discount rate | 3.43% | 4.52% | |
Pension Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 7.25% | 7.50% | 7.50% |
Other Postretirement Non Taxable Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Minimum [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 6.50% | 6.50% | 6.50% |
Other Postretirement Non Taxable Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Maximum [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 7.25% | 7.50% | 7.50% |
Taxable [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 5.50% | 5.50% | 5.75% |
Retirement, Other Postretire_16
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, 2019USD ($) | |
1 Percentage Point Increase, Impact on the APBO | $ 109,954 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 7,310 |
1 Percentage Point Decrease, Impact on the APBO | (92,504) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (5,970) |
Entergy Arkansas [Member] | |
1 Percentage Point Increase, Impact on the APBO | 14,480 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 908 |
1 Percentage Point Decrease, Impact on the APBO | (12,259) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (748) |
Entergy Louisiana [Member] | |
1 Percentage Point Increase, Impact on the APBO | 24,987 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 1,769 |
1 Percentage Point Decrease, Impact on the APBO | (21,017) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (1,443) |
Entergy Mississippi [Member] | |
1 Percentage Point Increase, Impact on the APBO | 6,085 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 420 |
1 Percentage Point Decrease, Impact on the APBO | (5,122) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (343) |
Entergy New Orleans [Member] | |
1 Percentage Point Increase, Impact on the APBO | 2,763 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 179 |
1 Percentage Point Decrease, Impact on the APBO | (2,363) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (148) |
Entergy Texas [Member] | |
1 Percentage Point Increase, Impact on the APBO | 8,561 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 482 |
1 Percentage Point Decrease, Impact on the APBO | (7,230) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (397) |
System Energy [Member] | |
1 Percentage Point Increase, Impact on the APBO | 4,876 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 364 |
1 Percentage Point Decrease, Impact on the APBO | (4,048) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | $ (294) |
Retirement, Other Postretire_17
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Entergy Arkansas [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 4,111 | $ 3,985 | $ 3,741 |
Entergy Louisiana [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 5,641 | 5,450 | 5,079 |
Entergy Mississippi [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 2,424 | 2,307 | 2,133 |
Entergy New Orleans [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 882 | 795 | 731 |
Entergy Texas [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 2,136 | $ 1,992 | $ 1,865 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
2019 Omnibus Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares available for grant | 7,266,822 | |||||
Number of shares authorized | 7,300,000 | |||||
Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 5,000,000 | $ 4,000,000 | $ 6,000,000 | |||
Expiration of stock-based awards | 10 years | |||||
Percentage of after tax net profit to be retained by the executive officer to achieve ownership position | 75.00% | |||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 8.32 | $ 6.99 | $ 6.54 | |||
Total intrinsic value of options exercised | $ 29,000,000 | $ 19,000,000 | $ 11,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 101,178,880 | |||||
Total Fair Value of In-The-Money Options | 101,000,000 | |||||
Cost related to non-vested stock options outstanding not yet recognized | $ 6,000,000 | |||||
Recognition period | 1 year 8 months 26 days | |||||
Proceeds from Stock Options Exercised | $ 93,000,000 | |||||
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options (Deprecated 2017-01-31) | 7,000,000 | |||||
Incentive Stock Options [Member] | 2014-2016 Long-Term Performance Unit Program [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 71.89 | |||||
Long term incentive plan awards (in shares) | 86,964 | |||||
Incentive Stock Options [Member] | 2015-2017 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) | $ 78.51 | |||||
Long term incentive plan awards (in shares) | 50,812 | |||||
Incentive Stock Options [Member] | 2016-2018 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) | $ 86.03 | |||||
Long term incentive plan awards (in shares) | 226,208 | |||||
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 | 34,000,000 | 28,000,000 | 29,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 25,000,000 | 25,000,000 | 24,000,000 | |||
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 | 355,537 | |||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 89.19 | |||||
Long Term Incentive Plan [Member] | Equity Ownership And Long Term Cash Incentive Plan 2015 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Grants, Fair Value | $ 23,000,000 | 16,000,000 | 19,000,000 | |||
Percent of performance measure based on relative total shareholder return | 80.00% | |||||
Percent of performance measure based on cumulative adjusted metric | 20.00% | |||||
Long term incentive plan awards (in shares) | 180,824 | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Grants, Fair Value | $ 3,000,000 | 2,000,000 | 3,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 6,000,000 | $ 3,000,000 | $ 400,000 | |||
Average award vesting period | 35 months | |||||
Number of unvested restricted units expected to vest | 130,463 | |||||
Period expected for vesting unvested restricted units | 19 months | |||||
Performance measure based on relative total shareholder return [Member] | Equity Ownership And Long Term Cash Incentive Plan Two Thousand Fifteen [Member] | Long Term Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 102.07 | |||||
Performance measure based on cumulative adjusted earnings per share metric [Member] | Equity Ownership And Long Term Cash Incentive Plan Two Thousand Fifteen [Member] | Long Term Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 89.19 |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule Of Financial Information Of Options) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 5 | $ 4 | $ 6 |
Compensation expense included in Entergy's Consolidated Net Income for the year | 3.8 | 4.3 | 4.4 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 1 | 1.1 | 1.7 |
Compensation cost capitalized as part of fixed assets and inventory | 1.4 | 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 | 25 | 25 | 24 |
Compensation expense included in Entergy's Consolidated Net Income for the year | 20.2 | 19.8 | 19.7 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 5.1 | 5.1 | 7.6 |
Compensation cost capitalized as part of fixed assets and inventory | 7.1 | 5.7 | 5.2 |
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 | 11.1 | 11.5 | 10.8 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 2.8 | 2.9 | 4.2 |
Compensation cost capitalized as part of fixed assets and inventory | 4 | 3.3 | 3 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 6 | 3 | 0.4 |
Compensation expense included in Entergy's Consolidated Net Income for the year | 2.2 | 2.9 | 2.5 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 0.6 | 0.7 | 1 |
Compensation cost capitalized as part of fixed assets and inventory | $ 0.9 | $ 0.7 | $ 0.6 |
Stock-Based Compensation (Stock
Stock-Based Compensation (Stock Option Weighted-Average Assumptions Used In Determining Fair Values) (Details) - Employee Stock Option [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock price volatility | 17.23% | 17.44% | 18.39% |
Expected term | 7 years 3 months 25 days | 7 years 3 months 29 days | 7 years 4 months 6 days |
Risk-free interest rate | 2.50% | 2.54% | 2.31% |
Dividend yield | 4.50% | 4.75% | 4.75% |
Dividend payment per share | $ 3.66 | $ 3.58 | $ 3.50 |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary Of Stock Option Activity) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 2,993,333 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 75.14 | ||
Number of options granted | 693,161 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 89.19 | ||
Number of options exercised | (1,227,047) | ||
Options exercised, Weighted-average exercise price (in usd per share) | $ 76.35 | ||
Number of Options forfeited/expired | (10,534) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 81.68 | ||
Number of options outstanding, Ending balance | 2,448,913 | 2,993,333 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 78.48 | $ 75.14 | |
Weighted-Average Contractual Life, Options outstanding | 7 years 10 days | ||
Options exercisable, Number of Options | 1,160,665 | ||
Options exercisable, Weighted-Average Exercise Price (in usd per share) | $ 73.97 | ||
Options exercisable, Aggregate intrinsic value (in usd per share) | $ 53,192,483 | ||
Weighted-Average Contractual Life, Options exercisable | 5 years 5 months 19 days | ||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 8.32 | $ 6.99 | $ 6.54 |
Restricted Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 693,527 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 74.17 | ||
Number of options granted | 379,690 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 88.75 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | (346,842) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 72.96 | ||
Number of Options forfeited/expired | (34,241) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 78.66 | ||
Number of options outstanding, Ending balance | 692,134 | 693,527 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 82.56 | $ 74.17 | |
Long-Term Incentive Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 566,626 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 79.21 | ||
Number of options granted | 241,406 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 96.18 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | (226,252) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 84.52 | ||
Number of Options forfeited/expired | (29,847) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 87.43 | ||
Number of options outstanding, Ending balance | 551,933 | 566,626 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 84.01 | $ 79.21 | |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 186,763 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 76.43 | ||
Number of options granted | 26,700 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 109.10 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | (83,000) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 77.05 | ||
Number of options outstanding, Ending balance | 130,463 | 186,763 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 82.72 | $ 76.43 |
Stock-Based Compensation (Sum_2
Stock-Based Compensation (Summary Of Stock Options Outstanding Information) (Details) - Employee Stock Option [Member] | 12 Months Ended |
Dec. 31, 2019$ / 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) | $ 89.90 |
Number of Outstanding Options | shares | 2,448,913 |
Weighted-Avg. Remaining Contractual Life-Yrs | 7 years 10 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 78.48 |
Number of Exercisable Options | shares | 1,160,665 |
Weighted-Avg. Exercise Price (in usd per share) | $ 73.97 |
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 | 1,323,452 |
Weighted-Avg. Remaining Contractual Life-Yrs | 6 years 10 months 20 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 73.97 |
Number of Exercisable Options | shares | 694,093 |
Weighted-Avg. Exercise Price (in usd per share) | $ 72.50 |
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 | 881,261 |
Weighted-Avg. Remaining Contractual Life-Yrs | 8 years 1 month 24 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 89.36 |
Number of Exercisable Options | shares | 222,372 |
Weighted-Avg. Exercise Price (in usd per share) | $ 89.85 |
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 | 244,200 |
Weighted-Avg. Remaining Contractual Life-Yrs | 3 years 8 months 19 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 63.69 |
Number of Exercisable Options | shares | 244,200 |
Weighted-Avg. Exercise Price (in usd per share) | $ 63.69 |
Business Segment Information (N
Business Segment Information (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2022 | Dec. 31, 2020 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | ||||||
Asset Write-Offs, Impairments, And Related Charges | $ 226,678 | $ 491,739 | $ 357,251 | |||
Entergy Wholesale Commodities [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Restructuring costs incurred, pre-tax | 91,000 | 139,000 | 113,000 | |||
Asset Write-Offs, Impairments, And Related Charges | 290,000 | 532,000 | 538,000 | |||
Restructuring Reserve | 143,000 | 193,000 | 97,000 | $ 91,000 | ||
Employee Retention and Severances Expenses and Other Benefits-Related Costs [Member] | Entergy Wholesale Commodities [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Restructuring costs incurred, pre-tax | 91,000 | 139,000 | 113,000 | |||
Restructuring Reserve | $ 129,000 | $ 179,000 | $ 83,000 | $ 70,000 | ||
Employee Retention and Severances Expenses and Other Benefits-Related Costs [Member] | Entergy Wholesale Commodities [Member] | Subsequent Event [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Restructuring Reserve | $ 55,000 | $ 75,000 |
Business Segment Information (S
Business Segment Information (Segment Financial Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Financial Information | |||||||||||
Interest expense | $ 742,425 | $ 707,348 | $ 662,343 | ||||||||
Income Tax Expense (Benefit) | (169,825) | (1,036,826) | 542,570 | ||||||||
Consolidated net income | $ 389,606 | $ 369,459 | $ 240,533 | $ 258,646 | $ (62,323) | $ 539,818 | $ 248,860 | $ 136,200 | 1,258,244 | 862,555 | 425,353 |
Total assets | 51,723,912 | 48,275,066 | 51,723,912 | 48,275,066 | |||||||
Utility [Member] | |||||||||||
Segment Financial Information | |||||||||||
Operating revenues | 9,540,670 | 9,417,866 | |||||||||
Depreciation, amortization, & decommissioning | 1,493,167 | 1,367,944 | 1,345,906 | ||||||||
Interest and investment income | 289,570 | 203,936 | 218,317 | ||||||||
Interest expense | 589,395 | 552,919 | 547,301 | ||||||||
Income Tax Expense (Benefit) | 19,634 | (732,548) | 794,616 | ||||||||
Consolidated net income | 1,425,643 | 1,495,061 | 773,148 | ||||||||
Total assets | 49,557,664 | 44,777,167 | 49,557,664 | 44,777,167 | 42,978,669 | ||||||
Investment in affiliates - at equity | 198 | ||||||||||
Cash paid for long-lived asset additions | 4,527,045 | 3,987,424 | 3,680,513 | ||||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 0 | 0 | ||||||||
Entergy Wholesale Commodities [Member] | |||||||||||
Segment Financial Information | |||||||||||
Operating revenues | 1,294,719 | 1,468,905 | 1,656,730 | ||||||||
Depreciation, amortization, & decommissioning | 384,707 | 388,732 | 448,079 | ||||||||
Interest and investment income | 414,636 | 14,543 | 224,121 | ||||||||
Interest expense | 29,450 | 33,694 | 23,714 | ||||||||
Income Tax Expense (Benefit) | (161,295) | (269,025) | (146,480) | ||||||||
Consolidated net income | 148,870 | (340,641) | (172,335) | ||||||||
Total assets | 4,154,961 | 5,459,275 | 4,154,961 | 5,459,275 | 5,638,009 | ||||||
Investment in affiliates - at equity | 0 | ||||||||||
Cash paid for long-lived asset additions | 104,300 | 283,707 | 320,667 | ||||||||
Asset Write-Offs, Impairments, And Related Charges | 290,027 | 532,321 | 538,372 | ||||||||
All Other [Member] | |||||||||||
Segment Financial Information | |||||||||||
Operating revenues | 21 | 0 | 0 | ||||||||
Depreciation, amortization, & decommissioning | 2,944 | 1,274 | 1,678 | ||||||||
Interest and investment income | 26,295 | 31,602 | 21,669 | ||||||||
Interest expense | 178,575 | 179,358 | 139,619 | ||||||||
Income Tax Expense (Benefit) | (28,164) | (35,253) | (105,566) | ||||||||
Consolidated net income | (188,675) | (164,271) | (47,840) | ||||||||
Total assets | 514,020 | 733,366 | 514,020 | 733,366 | 1,011,612 | ||||||
Investment in affiliates - at equity | 0 | ||||||||||
Cash paid for long-lived asset additions | 160 | 86 | 438 | ||||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 0 | 0 | ||||||||
Eliminations [Member] | |||||||||||
Segment Financial Information | |||||||||||
Operating revenues | (52) | (123) | (115) | ||||||||
Depreciation, amortization, & decommissioning | 0 | 0 | 0 | ||||||||
Interest and investment income | (182,589) | (186,217) | (175,910) | ||||||||
Interest expense | (54,995) | (58,623) | (48,291) | ||||||||
Income Tax Expense (Benefit) | 0 | 0 | 0 | ||||||||
Consolidated net income | (127,594) | (127,594) | (127,620) | ||||||||
Total assets | (2,502,733) | $ (2,694,742) | (2,502,733) | (2,694,742) | (2,921,141) | ||||||
Investment in affiliates - at equity | 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 | 10,878,673 | 11,074,481 | |||||||||
Depreciation, amortization, & decommissioning | 1,880,818 | 1,795,663 | |||||||||
Interest and investment income | 547,912 | 288,197 | |||||||||
Interest expense | 742,425 | 662,343 | |||||||||
Income Tax Expense (Benefit) | (169,825) | 542,570 | |||||||||
Consolidated net income | 1,258,244 | 425,353 | |||||||||
Total assets | $ 51,723,912 | 51,723,912 | 46,707,149 | ||||||||
Investment in affiliates - at equity | 198 | ||||||||||
Cash paid for long-lived asset additions | 4,631,505 | 4,001,618 | |||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 290,027 | $ 538,372 |
Business Segment Information _2
Business Segment Information Business Segment Information (Restructuring Costs) (Details) - Entergy Wholesale Commodities [Member] - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | $ 91 | $ 139 | $ 113 | |
Paid in cash | 141 | 43 | 100 | |
Non-cash portion | (7) | |||
Restructuring Reserve | 143 | 193 | 97 | $ 91 |
Employee Retention and Severances Expenses and Other Benefits-Related Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 91 | 139 | 113 | |
Paid in cash | 141 | 43 | 100 | |
Non-cash portion | 0 | |||
Restructuring Reserve | 129 | 179 | 83 | 70 |
Economic Development Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 0 | 0 | 0 | |
Paid in cash | 0 | 0 | 0 | |
Non-cash portion | (7) | |||
Restructuring Reserve | $ 14 | $ 14 | $ 14 | $ 21 |
Acquisitions, Dispositions, a_2
Acquisitions, Dispositions, and Impairment of Long-Lived Assets (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 29 Months Ended | |||||||||||||||||||||||
Oct. 31, 2019USD ($)MW | Aug. 31, 2019USD ($) | Jan. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Mar. 31, 2017USD ($) | Nov. 30, 2016 | Aug. 31, 2016USD ($)MW | Dec. 31, 2014USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2022USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($)$ / MWh | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2007$ / MWh | May 31, 2022$ / MWh | Oct. 31, 2018USD ($) | Jul. 31, 2018 | |
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 2,462,305,000 | $ 3,140,575,000 | $ 2,666,209,000 | $ 2,609,584,000 | $ 2,512,482,000 | $ 3,104,319,000 | $ 2,668,770,000 | $ 2,723,881,000 | $ 10,878,673,000 | $ 11,009,452,000 | $ 11,074,481,000 | ||||||||||||||||
Proceeds from Sale of Productive Assets | 28,932,000 | 24,902,000 | 100,000,000 | ||||||||||||||||||||||||
Line of credit facility, maximum borrowing capacity | 3,500,000,000 | 3,500,000,000 | |||||||||||||||||||||||||
Amount Drawn/ Outstanding | 440,000,000 | 440,000,000 | |||||||||||||||||||||||||
Net Book Value | $ 49,831,486,000 | 54,271,467,000 | 49,831,486,000 | 54,271,467,000 | 49,831,486,000 | ||||||||||||||||||||||
Asset Retirement Obligation | 6,923,400,000 | 6,159,200,000 | 6,923,400,000 | 6,159,200,000 | 6,923,400,000 | 6,185,800,000 | |||||||||||||||||||||
Decommissioning Fund Investments | 6,920,164,000 | 6,404,030,000 | 6,920,164,000 | 6,404,030,000 | 6,920,164,000 | ||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 226,678,000 | 491,739,000 | 357,251,000 | ||||||||||||||||||||||||
Asset Impairment Charges | 290,027,000 | 532,321,000 | 538,372,000 | ||||||||||||||||||||||||
After-Tax Asset Impairment Charge | 4,200,000 | ||||||||||||||||||||||||||
Decommissioning | 400,802,000 | 388,508,000 | 405,685,000 | ||||||||||||||||||||||||
Assets, Fair Value Disclosure | 7,818,000,000 | 7,430,000,000 | 7,818,000,000 | 7,430,000,000 | 7,818,000,000 | ||||||||||||||||||||||
Discontinued Operation, Tax Effect of Discontinued Operation | 29,000,000 | ||||||||||||||||||||||||||
Restructuring Costs and Asset Impairment Charges | 5,400,000 | ||||||||||||||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,259,594,000 | 2,060,643,000 | |||||||||||||||||||||||||
Net Book Value | 11,611,041,000 | 12,293,483,000 | 11,611,041,000 | 12,293,483,000 | 11,611,041,000 | ||||||||||||||||||||||
Asset Retirement Obligation | 1,048,400,000 | 1,242,600,000 | 1,048,400,000 | 1,242,600,000 | 1,048,400,000 | 981,200,000 | |||||||||||||||||||||
Decommissioning Fund Investments | 912,049,000 | 1,101,283,000 | 912,049,000 | 1,101,283,000 | 912,049,000 | ||||||||||||||||||||||
Asset Retirement Obligation, Liabilities Incurred | 126,200,000 | ||||||||||||||||||||||||||
Decommissioning | 68,030,000 | 60,420,000 | 56,860,000 | ||||||||||||||||||||||||
Assets, Fair Value Disclosure | 920,100,000 | 1,108,600,000 | 920,100,000 | 1,108,600,000 | 920,100,000 | ||||||||||||||||||||||
Entergy New Orleans [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 153,032,000 | 194,204,000 | 175,793,000 | 163,194,000 | 150,487,000 | 200,182,000 | 178,446,000 | 188,275,000 | 686,223,000 | 717,390,000 | 716,070,000 | ||||||||||||||||
Net Book Value | 1,364,091,000 | 1,467,215,000 | 1,364,091,000 | 1,467,215,000 | 1,364,091,000 | ||||||||||||||||||||||
Asset Retirement Obligation | 3,300,000 | 3,500,000 | 3,300,000 | 3,500,000 | 3,300,000 | 3,100,000 | |||||||||||||||||||||
Assets, Fair Value Disclosure | 104,100,000 | 90,900,000 | 104,100,000 | 90,900,000 | 104,100,000 | ||||||||||||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 16,000,000 | ||||||||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 987,851,000 | $ 1,231,677,000 | 1,106,317,000 | $ 959,330,000 | 987,576,000 | 1,206,612,000 | $ 1,072,788,000 | 1,029,344,000 | 4,285,175,000 | 4,296,320,000 | 4,300,550,000 | ||||||||||||||||
Proceeds from Sale of Productive Assets | 0 | 11,987,000 | 0 | ||||||||||||||||||||||||
Net Book Value | 20,532,312,000 | 22,620,365,000 | 20,532,312,000 | 22,620,365,000 | 20,532,312,000 | ||||||||||||||||||||||
Asset Retirement Obligation | 1,280,300,000 | 1,497,300,000 | 1,280,300,000 | 1,497,300,000 | 1,280,300,000 | 1,140,500,000 | |||||||||||||||||||||
Decommissioning Fund Investments | 1,284,996,000 | 1,563,812,000 | 1,284,996,000 | 1,563,812,000 | 1,284,996,000 | ||||||||||||||||||||||
Asset Retirement Obligation, Liabilities Incurred | $ 147,500,000 | $ 85,400,000 | |||||||||||||||||||||||||
Decommissioning | 59,346,000 | 53,736,000 | 49,457,000 | ||||||||||||||||||||||||
Assets, Fair Value Disclosure | 1,631,400,000 | 1,870,200,000 | 1,631,400,000 | 1,870,200,000 | 1,631,400,000 | ||||||||||||||||||||||
Entergy Mississippi [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,323,043,000 | 1,335,112,000 | |||||||||||||||||||||||||
Net Book Value | 4,780,720,000 | 5,672,589,000 | 4,780,720,000 | 5,672,589,000 | 4,780,720,000 | ||||||||||||||||||||||
Asset Retirement Obligation | 9,200,000 | 9,700,000 | 9,200,000 | 9,700,000 | 9,200,000 | 9,200,000 | |||||||||||||||||||||
Assets, Fair Value Disclosure | 71,500,000 | 132,600,000 | 71,500,000 | 132,600,000 | 71,500,000 | ||||||||||||||||||||||
Entergy Nuclear Generation Company [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 190,000,000 | ||||||||||||||||||||||||||
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes | 156,000,000 | ||||||||||||||||||||||||||
Decommissioning Trust Fair Values | 1,030,000,000 | ||||||||||||||||||||||||||
Net Book Value | 0 | ||||||||||||||||||||||||||
Asset Retirement Obligation | 837,000,000 | ||||||||||||||||||||||||||
Proceeds from sale of business | 1,000 | ||||||||||||||||||||||||||
Percentage of Undivided Ownership Interest | 100.00% | ||||||||||||||||||||||||||
Entergy Nuclear Vermont Yankee [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Line of credit facility, maximum borrowing capacity | 139,000,000 | 139,000,000 | |||||||||||||||||||||||||
Amount Drawn/ Outstanding | 139,000,000 | 139,000,000 | |||||||||||||||||||||||||
Vermont Yankee [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Decommissioning Trust Fair Values | 532,000,000 | 532,000,000 | 532,000,000 | ||||||||||||||||||||||||
Asset Retirement Obligation | 567,900,000 | $ 0 | 567,900,000 | 0 | 567,900,000 | 401,500,000 | |||||||||||||||||||||
Decommissioning Fund Investments | 532,000,000 | 532,000,000 | 532,000,000 | ||||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 290,027,000 | 532,321,000 | 538,372,000 | ||||||||||||||||||||||||
Payments to Acquire Productive Assets | 104,300,000 | 283,707,000 | 320,667,000 | ||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 290,000,000 | 532,000,000 | 538,000,000 | ||||||||||||||||||||||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | 79,000,000 | 421,000,000 | |||||||||||||||||||||||||
Asset impairment excluding loss from sale of assets | $ 100,000,000 | ||||||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Vermont Yankee [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Percent of Equity Interest to be included in nuclear plant purchase and sale agreement | 100.00% | ||||||||||||||||||||||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Price Under PPA Lower Range Per MWH | $ / MWh | 43.50 | ||||||||||||||||||||||||||
Average Price Under PPA | $ / MWh | 51 | ||||||||||||||||||||||||||
Amortization of Intangible Assets | $ 10,000,000 | 6,000,000 | $ 28,000,000 | ||||||||||||||||||||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Accelerated Finite Lived Intangible Assets Amortization Expenses due to termination of PPA | $ 5,000,000 | $ 12,000,000 | $ 11,000,000 | ||||||||||||||||||||||||
Scenario, Forecast [Member] | Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Price Under PPA Upper Range Per MWH | $ / MWh | 61.50 | ||||||||||||||||||||||||||
Vermont Yankee [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Decommissioning Trust Fair Values | 532,000,000 | 532,000,000 | 532,000,000 | ||||||||||||||||||||||||
Asset retirement costs asset | 127,000,000 | 127,000,000 | 127,000,000 | ||||||||||||||||||||||||
Asset Retirement Obligation | 568,000,000 | 568,000,000 | 568,000,000 | ||||||||||||||||||||||||
Increase (Decrease) in Notes Payable, Current | $ 139,000,000 | ||||||||||||||||||||||||||
Asset Impairment Charges | 173,000,000 | ||||||||||||||||||||||||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Capacity Of Power Plant Unit | MW | 838 | ||||||||||||||||||||||||||
Non-refundable signing fee paid upon agreement and assumption by Exelon of certain liabilities | $ 10,000,000 | ||||||||||||||||||||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 16,000,000 | ||||||||||||||||||||||||||
Cost of Goods and Services Sold | 8,000,000 | ||||||||||||||||||||||||||
Decommissioning Trust Fair Values | 805,000,000 | $ 805,000,000 | |||||||||||||||||||||||||
Other operation and maintenance expense reimbursement | 98,000,000 | ||||||||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 7,000,000 | ||||||||||||||||||||||||||
Net Book Value | 0 | 0 | |||||||||||||||||||||||||
Asset Retirement Obligation | 727,000,000 | 727,000,000 | |||||||||||||||||||||||||
Proceeds from sale of business | $ 110,000,000 | ||||||||||||||||||||||||||
Reimbursement for taxes other than income taxes | 3,000,000 | ||||||||||||||||||||||||||
Nuclear defueling credit | 10,000,000 | ||||||||||||||||||||||||||
Income tax benefit resulting from sale of FitzPatrick | $ 44,000,000 | ||||||||||||||||||||||||||
Willow Glen [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 14,800,000 | ||||||||||||||||||||||||||
Proceeds from Sale of Productive Assets | 12,000,000 | ||||||||||||||||||||||||||
Regulatory liability assumed in sale of assets | 5,700,000 | 5,700,000 | 5,700,000 | ||||||||||||||||||||||||
Regulatory liability recognized for the refund of customer excess collections | $ 31,900,000 | $ 31,900,000 | $ 31,900,000 | ||||||||||||||||||||||||
Choctaw [Member] | Entergy Mississippi [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Capacity Of Power Plant Unit | MW | 810 | ||||||||||||||||||||||||||
Payments to Acquire Productive Assets | $ 305,000,000 | ||||||||||||||||||||||||||
Pilgrim [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Carrying Value of Nuclear Plant | $ 0 | ||||||||||||||||||||||||||
Pilgrim [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 190,000,000 | ||||||||||||||||||||||||||
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes | $ 156,000,000 | ||||||||||||||||||||||||||
Pilgrim [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||
Asset Retirement Obligation, Liabilities Incurred | $ 117,500,000 |
Risk Management and Fair Valu_3
Risk Management and Fair Values (Narrative) (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020TWh | Dec. 31, 2019USD ($)GWhMMBTU | Dec. 31, 2018USD ($)counterparty | Dec. 31, 2017USD ($) | |
Risk Management and Fair Values [Abstract] | ||||
Included in earnings | $ (9.2) | $ (3.5) | $ 0.9 | |
Cash flow hedges relating to power sales as part of net unrealized gains | 108 | |||
Reclassified from accumulated other comprehensive income (OCI) to operating revenues | 91 | |||
Maturity of cash flow hedges, Tax | 20 | (14) | 38 | |
Change in cash flow hedges due to ineffectiveness | $ (5.9) | $ (3) | ||
Power Contracts [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Number of Derivative Contract Counterparties in a Liability Position | counterparty | 6 | |||
Hedging Liabilities, Noncurrent | $ 34 | |||
Cash collateral posted | 11 | 19 | ||
Derivative, Collateral, Obligation to Return Cash | 1 | |||
Letters of Credit Held | $ 98 | |||
Maximum Length of Time Hedged in Cash Flow Hedge | 1 year 3 months | |||
Gas Hedge Contracts [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 40,926,000 | |||
Financial Transmission Rights (FTRs) [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Letters of Credit Outstanding, Amount | 4 | |||
Total volume of FTRs outstanding (MWh) | GWh | 48,825 | |||
Subsequent Event [Member] | Power Contracts [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Planned generation sold forward from non utility nuclear power plants | 97.00% | |||
Planned Generation Sold Forward under financial derivatives | 65.00% | |||
Total planned generation for remainder of the period | TWh | 17.8 | |||
Entergy Arkansas [Member] | Financial Transmission Rights (FTRs) [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Total volume of FTRs outstanding (MWh) | GWh | 11,078 | |||
Entergy Louisiana [Member] | Gas Hedge Contracts [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 31,040,000 | |||
Maximum Length of Time Hedged in Cash Flow Hedge | 4 years 3 months | |||
Entergy Louisiana [Member] | Financial Transmission Rights (FTRs) [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Total volume of FTRs outstanding (MWh) | GWh | 22,282 | |||
Entergy Mississippi [Member] | Gas Hedge Contracts [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 9,330,000 | |||
Maximum Length of Time Hedged in Cash Flow Hedge | 10 months | |||
Entergy Mississippi [Member] | Financial Transmission Rights (FTRs) [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Letters of Credit Outstanding, Amount | $ 0.2 | 0.2 | ||
Total volume of FTRs outstanding (MWh) | GWh | 6,195 | |||
Entergy New Orleans [Member] | Gas Hedge Contracts [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 556,000 | |||
Maximum Length of Time Hedged in Cash Flow Hedge | 3 months | |||
Entergy New Orleans [Member] | Financial Transmission Rights (FTRs) [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Total volume of FTRs outstanding (MWh) | GWh | 2,331 | |||
Entergy Texas [Member] | Financial Transmission Rights (FTRs) [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Letters of Credit Outstanding, Amount | $ 4.1 | |||
Total volume of FTRs outstanding (MWh) | GWh | 6,741 |
Risk Management and Fair Valu_4
Risk Management and Fair Values (Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Prepayments And Other [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | $ 92 | $ 32 |
Derivative asset as hedging instrument offset | (1) | (32) |
Derivative Asset | 91 | 0 |
Prepayments And Other [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 11 | 4 |
Derivative asset as hedging instrument offset | (1) | (2) |
Derivative Asset | 10 | 2 |
Prepayments And Other [Member] | Financial Transmission Rights (FTRs) [Member] | Utility and Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 10 | 16 |
Derivative asset as hedging instrument offset | (1) | |
Derivative Asset | 10 | 15 |
Other Deferred Debits And Other Assets [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 17 | 7 |
Derivative asset as hedging instrument offset | 0 | (7) |
Derivative Asset | 17 | 0 |
Other Deferred Debits And Other Assets [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 1 | |
Derivative asset as hedging instrument offset | 0 | |
Derivative Asset | 1 | |
Other Deferred Debits And Other Assets [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 1 | 2 |
Derivative asset as hedging instrument offset | 0 | |
Derivative Asset | 1 | 2 |
Other Non-Current Liabilities [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 20 | |
Derivative liability as hedging instrument offset | (7) | |
Derivative Liability | 13 | |
Derivative Liability, Fair Value, Gross Liability | 20 | |
Other Non-Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 2 | |
Derivative liability as hedging instrument offset | 0 | |
Derivative Liability | 2 | |
Derivative Liability, Fair Value, Gross Liability | 2 | |
Other Current Liabilities [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 1 | 54 |
Derivative liability as hedging instrument offset | (1) | (33) |
Derivative Liability | 0 | 21 |
Derivative Liability, Fair Value, Gross Liability | 1 | 54 |
Other Current Liabilities [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 2 | 1 |
Derivative liability as hedging instrument offset | (2) | (1) |
Derivative Liability | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 2 | 1 |
Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 5 | 1 |
Derivative liability as hedging instrument offset | 0 | |
Derivative Liability | 5 | 1 |
Derivative Liability, Fair Value, Gross Liability | 5 | 1 |
Entergy Louisiana [Member] | Prepayments And Other [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 0.3 | |
Derivative asset as hedging instrument offset | 0 | |
Derivative Asset | 0.3 | |
Entergy Louisiana [Member] | Prepayments And Other [Member] | Financial Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 4.5 | 8.4 |
Derivative asset as hedging instrument offset | 0 | 0.1 |
Derivative Asset | 4.5 | 8.3 |
Entergy Louisiana [Member] | Other Deferred Debits And Other Assets [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 0.8 | 1.6 |
Derivative asset as hedging instrument offset | 0 | 0 |
Derivative Asset | 0.8 | 1.6 |
Entergy Louisiana [Member] | Other Non-Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 2.2 | |
Derivative liability as hedging instrument offset | 0 | |
Derivative Liability | 2.2 | |
Derivative Liability, Fair Value, Gross Liability | 2.2 | |
Entergy Louisiana [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 2.4 | 1.1 |
Derivative liability as hedging instrument offset | 0 | 0 |
Derivative Liability | 2.4 | 1.1 |
Derivative Liability, Fair Value, Gross Liability | 2.4 | 1.1 |
Entergy Arkansas [Member] | Prepayments And Other [Member] | Financial Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 3.4 | 3.6 |
Derivative asset as hedging instrument offset | 0.1 | 0.2 |
Derivative Asset | 3.3 | 3.4 |
Entergy Mississippi [Member] | Prepayments And Other [Member] | Financial Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 0.8 | 2.2 |
Derivative asset as hedging instrument offset | 0 | 0 |
Derivative Asset | 0.8 | 2.2 |
Entergy Mississippi [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 2.3 | |
Derivative liability as hedging instrument offset | 0 | |
Derivative Liability | 2.3 | |
Derivative Liability, Fair Value, Gross Liability | 2.3 | |
Entergy New Orleans [Member] | Prepayments And Other [Member] | Financial Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 0.3 | 1.3 |
Derivative asset as hedging instrument offset | 0 | 0 |
Derivative Asset | 0.3 | 1.3 |
Entergy New Orleans [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 0.2 | 0.1 |
Derivative liability as hedging instrument offset | 0 | 0 |
Derivative Liability | 0.2 | 0.1 |
Derivative Liability, Fair Value, Gross Liability | 0.2 | 0.1 |
Entergy Texas [Member] | Prepayments And Other [Member] | Financial Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 1 | |
Derivative asset as hedging instrument offset | 0.1 | |
Derivative Asset | $ 0.9 | |
Entergy Texas [Member] | Other Current Liabilities [Member] | Financial Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 0.9 | |
Derivative asset as hedging instrument offset | 1.4 | |
Liabilities: | ||
Derivative Liability | $ (0.5) |
Risk Management and Fair Valu_5
Risk Management and Fair Values (Derivative Instruments Designated as Cash Flow Hedges On Consolidated Statements Of Income) (Details) - Competitive Businesses Operating Revenues [Member] - Electricity Futures Forwards Swaps And Options [Member] - Cash Flow Hedging [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effect of Derivative instruments designated as cash flow hedges on consolidated statements of income | |||
Amount of gain (loss) recognized in AOCI (effective portion) | $ 232 | $ (40) | $ 44 |
Amount of gain reclassified from accumulated OCI into income (effective portion) | $ 97 | $ (68) | $ 109 |
Risk Management and Fair Valu_6
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
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 | $ (13) | $ 8 | $ (31) |
Purchased Power Expense [Member] | Financial 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 | 94 | 131 | 139 |
Competitive Businesses Operating Revenues [Member] | Electricity Futures Forwards Swaps And Options [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 12 | 8 | |
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 | (5.3) | 4.4 | (25.4) |
Entergy Louisiana [Member] | Purchased Power Expense [Member] | Financial 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 | 46.7 | 72.7 | 45.8 |
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 | (7.7) | 3.2 | (5.2) |
Entergy Mississippi [Member] | Purchased Power Expense [Member] | Financial 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 | 6.8 | 26.3 | 18.9 |
Entergy New Orleans [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 0.2 | (0.3) | |
Entergy New Orleans [Member] | Purchased Power Expense [Member] | Financial 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 | 2.7 | 13.8 | 9.1 |
Entergy Arkansas [Member] | Purchased Power Expense [Member] | Financial Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 22.3 | 25.3 | 41.7 |
Entergy Texas [Member] | Purchased Power Expense [Member] | Financial 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 | $ 15.7 | $ (6) | $ 22.3 |
Risk Management and Fair Valu_7
Risk Management and Fair Values (Assets And Liabilities At Fair Value On A Recurring Basis) (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | $ 391,480,000 | $ 424,285,000 |
Equity Securities, FV-NI | 905,000,000 | 1,686,000,000 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 459,000,000 | 403,000,000 |
Restricted Cash and Cash Equivalents, Current | 47,000,000 | 51,000,000 |
Liabilities at fair value on a recurring basis | ||
Total | 35,000,000 | |
Debt Securities | 2,963,000,000 | 2,884,000,000 |
Assets, Fair Value Disclosure | 7,430,000,000 | 7,818,000,000 |
Power Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 34,000,000 | |
Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 7,000,000 | 1,000,000 |
Common trust funds valued using Net Asset Value [Domain] | ||
Liabilities at fair value on a recurring basis | ||
Available-for-sale Securities | 2,536,000,000 | 2,350,000,000 |
Power Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 118,000,000 | 3,000,000 |
Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 10,000,000 | 15,000,000 |
Gas Hedge Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 1,000,000 | 2,000,000 |
Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 391,000,000 | 424,000,000 |
Equity Securities, FV-NI | 905,000,000 | 1,686,000,000 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 459,000,000 | 403,000,000 |
Restricted Cash and Cash Equivalents, Current | 47,000,000 | 51,000,000 |
Liabilities at fair value on a recurring basis | ||
Total | 1,000,000 | |
Debt Securities | 1,139,000,000 | 1,259,000,000 |
Assets, Fair Value Disclosure | 2,941,000,000 | 3,823,000,000 |
Fair Value Inputs Level 1 [Member] | Power Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 0 | |
Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 5,000,000 | 1,000,000 |
Fair Value Inputs Level 1 [Member] | Power Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Fair Value Inputs Level 1 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Fair Value Inputs Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Total | 0 | |
Debt Securities | 1,824,000,000 | 1,625,000,000 |
Assets, Fair Value Disclosure | 1,825,000,000 | 1,627,000,000 |
Fair Value Inputs Level 2 [Member] | Power Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 0 | |
Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 2,000,000 | 0 |
Fair Value Inputs Level 2 [Member] | Power Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Fair Value Inputs Level 2 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 1,000,000 | 2,000,000 |
Fair Value Inputs Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Total | 34,000,000 | |
Debt Securities | 0 | 0 |
Assets, Fair Value Disclosure | 128,000,000 | 18,000,000 |
Fair Value Inputs Level 3 [Member] | Power Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 34,000,000 | |
Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 0 | 0 |
Fair Value Inputs Level 3 [Member] | Power Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 118,000,000 | 3,000,000 |
Fair Value Inputs Level 3 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 10,000,000 | 15,000,000 |
Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy New Orleans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 5,991,000 | 19,651,000 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 82,600,000 | 80,900,000 |
Restricted Cash and Cash Equivalents, Current | 2,000,000 | 2,200,000 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 90,900,000 | 104,100,000 |
Entergy New Orleans [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 200,000 | 100,000 |
Entergy New Orleans [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 300,000 | 1,300,000 |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 6,000,000 | 19,700,000 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 82,600,000 | 80,900,000 |
Restricted Cash and Cash Equivalents, Current | 2,000,000 | 2,200,000 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 90,600,000 | 102,800,000 |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 200,000 | 100,000 |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 300,000 | 1,300,000 |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 0 | 0 |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 300,000 | 1,300,000 |
Entergy Mississippi [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 51,590,000 | 36,943,000 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 80,200,000 | 32,400,000 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 132,600,000 | 71,500,000 |
Entergy Mississippi [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 2,300,000 | |
Entergy Mississippi [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 800,000 | 2,200,000 |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 51,600,000 | 36,900,000 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 80,200,000 | 32,400,000 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 131,800,000 | 69,300,000 |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 2,300,000 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 0 | 0 |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 0 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 800,000 | 2,200,000 |
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 0 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 800,000 | 2,200,000 |
Entergy Louisiana [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 1,518,000 | 43,112,000 |
Equity Securities, FV-NI | 4,300,000 | 13,300,000 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 295,900,000 | 289,500,000 |
Restricted Cash and Cash Equivalents, Current | 3,700,000 | 3,600,000 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 601,500,000 | 532,900,000 |
Assets, Fair Value Disclosure | 1,870,200,000 | 1,631,400,000 |
Entergy Louisiana [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 4,600,000 | 1,100,000 |
Entergy Louisiana [Member] | Common trust funds valued using Net Asset Value [Domain] | ||
Liabilities at fair value on a recurring basis | ||
Available-for-sale Securities | 958,000,000 | 738,800,000 |
Entergy Louisiana [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 4,500,000 | 8,300,000 |
Entergy Louisiana [Member] | Gas Hedge Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 800,000 | 1,900,000 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 1,500,000 | 43,100,000 |
Equity Securities, FV-NI | 4,300,000 | 13,300,000 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 295,900,000 | 289,500,000 |
Restricted Cash and Cash Equivalents, Current | 3,700,000 | 3,600,000 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 180,800,000 | 162,000,000 |
Assets, Fair Value Disclosure | 486,200,000 | 511,500,000 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 2,400,000 | 700,000 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 420,700,000 | 370,900,000 |
Assets, Fair Value Disclosure | 421,500,000 | 372,800,000 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 2,200,000 | 400,000 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 800,000 | 1,900,000 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Assets at fair value on a recurring basis | ||
Replacement Reserve Escrow | 0 | 0 |
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 0 | 0 |
Assets, Fair Value Disclosure | 4,500,000 | 8,300,000 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Liability | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 4,500,000 | 8,300,000 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts Assets [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Texas [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Temporary Cash Investments Fair Value | 12,900,000 | |
Cash Equivalents, at Carrying Value | 12,904,000 | 30,000 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 40,200,000 | |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 51,500,000 | |
Entergy Texas [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 37,700,000 | |
Entergy Texas [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 900,000 | |
Derivative Liability | 500,000 | |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Temporary Cash Investments Fair Value | 12,900,000 | |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 40,200,000 | |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 50,600,000 | |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 37,700,000 | |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | |
Entergy Texas [Member] | Fair Value Inputs Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Temporary Cash Investments Fair Value | 0 | |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 0 | |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 0 | |
Entergy Texas [Member] | Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 0 | |
Entergy Texas [Member] | Fair Value Inputs Level 2 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | |
Entergy Texas [Member] | Fair Value Inputs Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Temporary Cash Investments Fair Value | 0 | |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 0 | |
Liabilities at fair value on a recurring basis | ||
Assets, Fair Value Disclosure | 900,000 | |
Entergy Texas [Member] | Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | ||
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 0 | |
Entergy Texas [Member] | Fair Value Inputs Level 3 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 900,000 | |
Entergy Arkansas [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 1,000 |
Equity Securities, FV-NI | 600,000 | 4,000,000 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 4,000,000 | 4,700,000 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 412,800,000 | 381,300,000 |
Assets, Fair Value Disclosure | 1,108,600,000 | 920,100,000 |
Entergy Arkansas [Member] | Common trust funds valued using Net Asset Value [Domain] | ||
Liabilities at fair value on a recurring basis | ||
Available-for-sale Securities | 687,900,000 | 526,700,000 |
Entergy Arkansas [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 3,300,000 | 3,400,000 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI | 600,000 | 4,000,000 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 4,000,000 | 4,700,000 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 108,700,000 | 94,800,000 |
Assets, Fair Value Disclosure | 113,300,000 | 103,500,000 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI | 0 | 0 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 304,100,000 | 286,500,000 |
Assets, Fair Value Disclosure | 304,100,000 | 286,500,000 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI | 0 | 0 |
Assets at fair value on a recurring basis | ||
Restricted Cash and Cash Equivalents, Current | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 0 | 0 |
Assets, Fair Value Disclosure | 3,300,000 | 3,400,000 |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Financial Transmission Rights (FTRs) [Member] | ||
Liabilities at fair value on a recurring basis | ||
Derivative Asset | 3,300,000 | 3,400,000 |
System Energy [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 68,441,000 | 95,617,000 |
Equity Securities, FV-NI | 13,300,000 | 4,400,000 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 386,200,000 | 364,200,000 |
Assets, Fair Value Disclosure | 1,122,500,000 | 965,100,000 |
System Energy [Member] | Common trust funds valued using Net Asset Value [Domain] | ||
Liabilities at fair value on a recurring basis | ||
Available-for-sale Securities | 654,600,000 | 500,900,000 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 68,400,000 | 95,600,000 |
Equity Securities, FV-NI | 13,300,000 | 4,400,000 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 176,300,000 | 224,500,000 |
Assets, Fair Value Disclosure | 258,000,000 | 324,500,000 |
System Energy [Member] | Fair Value Inputs Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 209,900,000 | 139,700,000 |
Assets, Fair Value Disclosure | 209,900,000 | 139,700,000 |
System Energy [Member] | Fair Value Inputs Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents, at Carrying Value | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Liabilities at fair value on a recurring basis | ||
Debt Securities | 0 | 0 |
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Risk Management and Fair Valu_8
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
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 | $ (9.2) | $ (3.5) | $ 0.9 | |
Issuances of financial transmission rights | 0 | 0 | 0 | |
Financial 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] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 54 | 80 | 76 | |
Issuances of financial transmission rights | 35 | 46 | 62 | |
Gains (losses) included as a regulatory liability/asset | 0 | 1 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (1) | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (94) | (131) | (139) | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 10 | 15 | 21 | $ 21 |
Electricity Futures Forwards Swaps And Options [Member] | ||||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 232 | 44 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) | (40) | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 0 | 0 | 0 | |
Gains (losses) included as a regulatory liability/asset | 12 | 2 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (3) | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (95) | (111) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | (72) | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 118 | $ 5 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | (31) | (65) | ||
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] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 12.6 | 13.9 | ||
Issuances of financial transmission rights | 9.6 | 11.8 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (22.3) | (25.3) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 3.3 | 3.4 | 3 | |
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] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 24.2 | 50.8 | ||
Issuances of financial transmission rights | 18.7 | 20 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (46.7) | (72.7) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 4.5 | 8.3 | 10.2 | |
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] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 1.5 | 21.9 | ||
Issuances of financial transmission rights | 3.9 | 4.5 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (6.8) | (26.3) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0.8 | 2.2 | 2.1 | |
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] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | (1) | 9.2 | ||
Issuances of financial transmission rights | 2.7 | 3.7 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (2.7) | (13.8) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0.3 | 1.3 | 2.2 | |
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] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 17 | (16) | ||
Issuances of financial transmission rights | 0.1 | 6.1 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (15.7) | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | (6) | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 0.9 | $ 3.4 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ (0.5) |
Risk Management and Fair Valu_9
Risk Management and Fair Values (Schedules Of Valuation Techniques) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Range from Average Percentage for Fair Value of Electricity Swaps | 4.75% |
Effect of Significant Unobservable Inputs on Fair Value of Electricity Swaps | $ 11 |
Electricity Futures Forwards Swaps And Options [Member] | |
Fair Value of Electricity Swaps - Net Liability Position | $ 118 |
Decommissioning Trust Funds (Na
Decommissioning Trust Funds (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Aug. 31, 2019 | Jan. 01, 2019 | Jan. 01, 2018 | |
Debt Securities, Trading | $ 507,000 | $ 389,000 | ||||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | $ (6,806) | $ (632,617) | ||||
Decommissioning Fund Investments | 6,404,030 | 6,920,164 | ||||
Decommissioning Trust Funds [Abstract] | ||||||
Deferred taxes on unrealized gains/(losses) recorded in OCI for non-regulated decommissioning trusts | 14,023 | 6,393 | $ 80,069 | |||
Amortized cost of debt securities | $ 2,366,000 | 2,511,000 | ||||
Average coupon rate of debt securities | 3.27% | |||||
Proceeds from the dispositions of debt securities | $ 1,427,000 | 2,406,000 | 3,163,000 | |||
Gains from dispositions of debt securities, gross | 25,000 | 7,000 | 149,000 | |||
Losses from dispositions of debt securities, gross | $ 4,000 | 47,000 | 13,000 | |||
Average Duration of Debt Securities in Years | 6 years 7 months 13 days | |||||
Average Maturity of Debt Securities, Years | 10 years 5 months 1 day | |||||
Equity Securities, FV-NI, Unrealized Gain | $ 640,000 | |||||
Entergy Arkansas [Member] | ||||||
Decommissioning Fund Investments | 1,101,283 | 912,049 | ||||
Decommissioning Trust Funds [Abstract] | ||||||
Amortized cost of debt securities | $ 405,400 | 389,000 | ||||
Average coupon rate of debt securities | 2.79% | |||||
Proceeds from the dispositions of debt securities | $ 110,600 | 82,100 | 339,400 | |||
Gains from dispositions of debt securities, gross | 2,900 | 100 | 17,700 | |||
Losses from dispositions of debt securities, gross | $ 100 | 2,900 | 600 | |||
Average Duration of Debt Securities in Years | 6 years 9 months 29 days | |||||
Average Maturity of Debt Securities, Years | 8 years 9 months 21 days | |||||
Equity Securities, FV-NI, Unrealized Gain | $ 147,700 | |||||
Entergy Louisiana [Member] | ||||||
Decommissioning Fund Investments | $ 1,563,812 | 1,284,996 | ||||
Percentage Interest in River Bend | 30.00% | |||||
Decommissioning Trust Funds [Abstract] | ||||||
Amortized cost of debt securities | $ 573,000 | 534,800 | ||||
Average coupon rate of debt securities | 3.82% | |||||
Proceeds from the dispositions of debt securities | $ 186,000 | 401,700 | 231,300 | |||
Gains from dispositions of debt securities, gross | 4,800 | 2,100 | 12,000 | |||
Losses from dispositions of debt securities, gross | $ 300 | 7,500 | 400 | |||
Average Duration of Debt Securities in Years | 6 years 9 months 18 days | |||||
Average Maturity of Debt Securities, Years | 13 years 3 months 3 days | |||||
Equity Securities, FV-NI, Unrealized Gain | $ 208,100 | |||||
System Energy [Member] | ||||||
Decommissioning Fund Investments | 1,054,098 | 869,543 | ||||
Decommissioning Trust Funds [Abstract] | ||||||
Amortized cost of debt securities | $ 371,400 | 367,100 | ||||
Average coupon rate of debt securities | 3.12% | |||||
Proceeds from the dispositions of debt securities | $ 338,100 | 361,900 | 565,400 | |||
Gains from dispositions of debt securities, gross | 5,400 | 500 | 1,400 | |||
Losses from dispositions of debt securities, gross | $ 700 | 6,100 | $ 3,300 | |||
Average Duration of Debt Securities in Years | 6 years 9 months | |||||
Average Maturity of Debt Securities, Years | 10 years 4 months 28 days | |||||
Equity Securities, FV-NI, Unrealized Gain | $ 140,500 | |||||
Indian Point 3 [Member] | ||||||
Decommissioning Fund Investments | 930,000 | 781,000 | ||||
Indian Point 1 [Member] | ||||||
Decommissioning Fund Investments | 556,000 | 471,000 | ||||
Indian Point 2 [Member] | ||||||
Decommissioning Fund Investments | 701,000 | 598,000 | ||||
Palisades [Member] | ||||||
Decommissioning Fund Investments | 498,000 | 444,000 | ||||
Pilgrim [Member] | ||||||
Decommissioning Trust Fair Values | $ 1,030,000 | |||||
Decommissioning Fund Investments | 1,028,000 | |||||
Vermont Yankee [Member] | ||||||
Decommissioning Trust Fair Values | 532,000 | |||||
Decommissioning Fund Investments | 532,000 | |||||
Debt Securities [Member] | ||||||
Decommissioning Trust Funds [Abstract] | ||||||
Deferred taxes on unrealized gains/(losses) recorded in OCI for non-regulated decommissioning trusts | $ 13,000 | $ (1,000) |
Decommissioning Trust Funds (Se
Decommissioning Trust Funds (Securities Held) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Total | $ 2,456 | $ 2,495 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 96 | 19 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 6 | 35 |
Debt Securities, Trading | 507 | 389 |
Entergy Louisiana [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total | 601.5 | 532.9 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 29.3 | 4.1 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0.8 | 6 |
Entergy Arkansas [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total | 412.8 | 381.3 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 9.9 | 0.6 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 2.6 | 8.2 |
System Energy [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total | 386.2 | 364.2 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 15.1 | 2.9 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $ 0.3 | $ 5.8 |
Decommissioning Trust Funds (Av
Decommissioning Trust Funds (Available For Sale Securities Continuous Unrealized Loss Position Fair Value) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Less than 12 months Fair Value | $ 404 | $ 652 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 5 | 9 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 38 | 782 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1 | 26 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 442 | 1,434 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 6 | 35 |
Entergy Arkansas [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Less than 12 months Fair Value | 104.8 | 65.8 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2.5 | 0.5 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 7.7 | 231.1 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0.1 | 7.7 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 112.5 | 296.9 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 2.6 | 8.2 |
Entergy Louisiana [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Less than 12 months Fair Value | 71.2 | 170.1 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.8 | 2.1 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 7.9 | 145.8 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 3.9 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 79.1 | 315.9 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 0.8 | 6 |
System Energy [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Less than 12 months Fair Value | 56.9 | 89.7 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.3 | 2.4 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0.3 | 79.8 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 3.4 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 57.2 | 169.5 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 0.3 | $ 5.8 |
Decommissioning Trust Funds (Fa
Decommissioning Trust Funds (Fair Value Of Debt Securities By Contractual Maturities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair value of debt securities by contractual maturities | ||
Less than 1 year | $ 128 | $ 199 |
1 year - 5 years | 807 | 1,066 |
5 years - 10 years | 666 | 544 |
10 years - 15 years | 125 | 77 |
15 years - 20 years | 126 | 78 |
20 years | 604 | 531 |
Total | 2,456 | 2,495 |
Entergy Arkansas [Member] | ||
Fair value of debt securities by contractual maturities | ||
Less than 1 year | 44.1 | 32.5 |
1 year - 5 years | 109.1 | 170.3 |
5 years - 10 years | 156 | 114 |
10 years - 15 years | 31.3 | 10.3 |
15 years - 20 years | 23.8 | 8.1 |
20 years | 48.5 | 46.1 |
Total | 412.8 | 381.3 |
Entergy Louisiana [Member] | ||
Fair value of debt securities by contractual maturities | ||
Less than 1 year | 40.7 | 31.1 |
1 year - 5 years | 142 | 130.5 |
5 years - 10 years | 132.4 | 111 |
10 years - 15 years | 39.8 | 29 |
15 years - 20 years | 49.2 | 37.1 |
20 years | 197.4 | 194.2 |
Total | 601.5 | 532.9 |
System Energy [Member] | ||
Fair value of debt securities by contractual maturities | ||
Less than 1 year | 8.5 | 22.8 |
1 year - 5 years | 154.6 | 188 |
5 years - 10 years | 92.3 | 73.4 |
10 years - 15 years | 13.4 | 5.2 |
15 years - 20 years | 14.4 | 10.2 |
20 years | 103 | 64.6 |
Total | $ 386.2 | $ 364.2 |
Variable Interest Entities (Det
Variable Interest Entities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
System Energy [Member] | Grand Gulf [Member] | |||
Variable Interest Entities (Textual) [Abstract] | |||
Payments on lease, including interest | $ 17.2 | $ 17.2 | $ 17.2 |
Transactions With Affiliates (D
Transactions With Affiliates (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Entergy Arkansas [Member] | |||
Intercompany revenues | $ 117,500,000 | $ 104,300,000 | $ 127,800,000 |
Intercompany operating expenses | 534,000,000 | 471,900,000 | 510,200,000 |
Intercompany interest and investment income | 400,000 | 400,000 | 0 |
Entergy Louisiana [Member] | |||
Intercompany revenues | 277,800,000 | 299,000,000 | 282,400,000 |
Intercompany operating expenses | 665,400,000 | 627,800,000 | 619,500,000 |
Intercompany interest and investment income | 128,500,000 | 128,200,000 | 128,000,000 |
Entergy Mississippi [Member] | |||
Intercompany revenues | 1,400,000 | 2,500,000 | 1,700,000 |
Intercompany operating expenses | 306,700,000 | 266,800,000 | 310,500,000 |
Intercompany interest and investment income | 400,000 | 0 | 0 |
Entergy New Orleans [Member] | |||
Intercompany revenues | 0 | 0 | 0 |
Intercompany operating expenses | 292,100,000 | 256,400,000 | 286,100,000 |
Intercompany interest and investment income | 0 | 0 | 200,000 |
Entergy Texas [Member] | |||
Intercompany revenues | 51,600,000 | 58,800,000 | 57,900,000 |
Intercompany operating expenses | 255,000,000 | 240,200,000 | 234,600,000 |
Intercompany interest and investment income | 400,000 | 200,000 | 0 |
System Energy [Member] | |||
Intercompany revenues | 584,100,000 | 456,700,000 | 633,500,000 |
Intercompany operating expenses | 156,200,000 | 176,500,000 | 197,000,000 |
Intercompany interest and investment income | 1,000,000 | 1,200,000 | 900,000 |
EWO Marketing, LLC [Member] | RS Cogen [Member] | |||
Intercompany operating expenses | $ 24,500,000 | $ 24,000,000 | $ 24,600,000 |
Transactions With Affiliates Tr
Transactions With Affiliates Transactions with Affiliates (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
EWO Marketing, LLC [Member] | RS Cogen [Member] | |||
Related Party Transaction [Line Items] | |||
Intercompany operating expenses | $ 24.5 | $ 24 | $ 24.6 |
Revenue Recognition Revenue R_3
Revenue Recognition Revenue Recognition (Narrative) (Details) $ in Millions | 12 Months Ended | 29 Months Ended | ||||||
Dec. 31, 2022USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($)$ / MWh | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2007$ / MWh | May 31, 2022$ / MWh | |
System Energy [Member] | ||||||||
Percent Interest in Grand Gulf | 90.00% | |||||||
Entergy Wholesale Commodities [Member] | Palisades [Member] | ||||||||
Price Under PPA Lower Range Per MWH | 43.50 | |||||||
Average Price Under PPA | 51 | |||||||
Amortization of Intangible Assets | $ | $ 10 | $ 6 | $ 28 | |||||
Entergy Wholesale Commodities [Member] | Scenario, Forecast [Member] | Palisades [Member] | ||||||||
Price Under PPA Upper Range Per MWH | 61.50 | |||||||
Subsequent Event [Member] | Entergy Wholesale Commodities [Member] | Palisades [Member] | ||||||||
Accelerated Finite Lived Intangible Assets Amortization Expenses due to termination of PPA | $ | $ 5 | $ 12 | $ 11 |
Revenue Recognition Revenue R_4
Revenue Recognition Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disaggregation of Revenue [Table Text Block] | Entergy’s total revenues for the years ended December 31, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $3,531,500 $3,565,522 Commercial 2,475,586 2,426,477 Industrial 2,541,287 2,499,227 Governmental 228,470 225,882 Total billed retail 8,776,843 8,717,108 Sales for resale (a) 285,722 299,567 Other electric revenues (b) 343,143 326,910 Revenues from contracts with customers 9,405,708 9,343,585 Other revenues (c) 24,270 40,526 Total electric revenues 9,429,978 9,384,111 Natural gas 153,954 156,436 Entergy Wholesale Commodities: Competitive businesses sales from contracts with customers (a) 1,164,552 1,547,994 Other revenues (c) 130,189 (79,089 ) Total competitive businesses revenues 1,294,741 1,468,905 Total operating revenues $10,878,673 $11,009,452 | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 2,462,305 | $ 3,140,575 | $ 2,666,209 | $ 2,609,584 | $ 2,512,482 | $ 3,104,319 | $ 2,668,770 | $ 2,723,881 | $ 10,878,673 | $ 11,009,452 | $ 11,074,481 | |
Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 9,429,978 | 9,384,111 | 9,278,895 | |||||||||
Natural Gas, US Regulated [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 153,954 | 156,436 | 138,856 | |||||||||
Competitive Businesses [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,294,741 | 1,468,905 | 1,656,730 | |||||||||
Residential [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,531,500 | 3,565,522 | ||||||||||
Commercial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,475,586 | 2,426,477 | ||||||||||
Industrial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,541,287 | 2,499,227 | ||||||||||
Governmental [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 228,470 | 225,882 | ||||||||||
Sales for Resale [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 285,722 | 299,567 | |||||||||
Other Electric [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 343,143 | 326,910 | |||||||||
Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 9,405,708 | 9,343,585 | ||||||||||
Non-Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 24,270 | 40,526 | |||||||||
Non-Customer [Member] | Competitive Businesses [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 130,189 | (79,089) | |||||||||
Competitive Business Sales [Member] | Competitive Businesses [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 1,164,552 | 1,547,994 | |||||||||
Billed Retail [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 8,776,843 | 8,717,108 | ||||||||||
Entergy Arkansas [Member] | ||||||||||||
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 2,259,594 | 2,060,643 | ||||||||||
Entergy Arkansas [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 483,327 | 687,526 | 542,929 | 545,812 | 446,615 | 568,399 | 494,605 | 551,024 | 2,259,594 | 2,060,643 | 2,139,919 | |
Entergy Arkansas [Member] | Natural Gas, US Regulated [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | ||||||||||
Entergy Arkansas [Member] | Residential [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 795,269 | 807,098 | ||||||||||
Entergy Arkansas [Member] | Commercial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 538,850 | 425,523 | ||||||||||
Entergy Arkansas [Member] | Industrial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 520,958 | 434,387 | ||||||||||
Entergy Arkansas [Member] | Governmental [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 20,795 | 16,537 | ||||||||||
Entergy Arkansas [Member] | Sales for Resale [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 257,864 | 248,861 | |||||||||
Entergy Arkansas [Member] | Other Electric [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 112,618 | 111,875 | |||||||||
Entergy Arkansas [Member] | Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,246,354 | 2,044,281 | ||||||||||
Entergy Arkansas [Member] | Non-Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 13,240 | 16,362 | |||||||||
Entergy Arkansas [Member] | Billed Retail [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,875,872 | 1,683,545 | ||||||||||
Entergy Louisiana [Member] | ||||||||||||
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 987,851 | 1,231,677 | 1,106,317 | 959,330 | 987,576 | 1,206,612 | 1,072,788 | 1,029,344 | $ 4,285,175 | 4,296,320 | 4,300,550 | |
Entergy Louisiana [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 4,223,027 | 4,232,541 | 4,246,020 | |||||||||
Entergy Louisiana [Member] | Natural Gas, US Regulated [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 62,148 | 63,779 | 54,530 | |||||||||
Entergy Louisiana [Member] | Residential [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,270,478 | 1,244,413 | ||||||||||
Entergy Louisiana [Member] | Commercial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 947,412 | 941,321 | ||||||||||
Entergy Louisiana [Member] | Industrial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,450,966 | 1,462,462 | ||||||||||
Entergy Louisiana [Member] | Governmental [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 71,046 | 68,587 | ||||||||||
Entergy Louisiana [Member] | Sales for Resale [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 333,395 | 356,603 | |||||||||
Entergy Louisiana [Member] | Other Electric [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 135,783 | 144,978 | |||||||||
Entergy Louisiana [Member] | Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 4,209,080 | 4,218,364 | ||||||||||
Entergy Louisiana [Member] | Non-Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 13,947 | 14,177 | |||||||||
Entergy Louisiana [Member] | Billed Retail [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,739,902 | 3,716,783 | ||||||||||
Entergy Mississippi [Member] | ||||||||||||
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,323,043 | 1,335,112 | ||||||||||
Entergy Mississippi [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 339,330 | 398,732 | 302,737 | 282,244 | 297,946 | 367,734 | 353,689 | 315,743 | 1,323,043 | 1,335,112 | 1,198,229 | |
Entergy Mississippi [Member] | Natural Gas, US Regulated [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | ||||||||||
Entergy Mississippi [Member] | Residential [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 562,219 | 578,568 | ||||||||||
Entergy Mississippi [Member] | Commercial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 444,173 | 461,832 | ||||||||||
Entergy Mississippi [Member] | Industrial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 164,491 | 175,056 | ||||||||||
Entergy Mississippi [Member] | Governmental [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 44,300 | 43,747 | ||||||||||
Entergy Mississippi [Member] | Sales for Resale [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 39,295 | 25,812 | |||||||||
Entergy Mississippi [Member] | Other Electric [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 58,269 | 39,897 | |||||||||
Entergy Mississippi [Member] | Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,312,747 | 1,324,912 | ||||||||||
Entergy Mississippi [Member] | Non-Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 10,296 | 10,200 | |||||||||
Entergy Mississippi [Member] | Billed Retail [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,215,183 | 1,259,203 | ||||||||||
Entergy New Orleans [Member] | ||||||||||||
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 153,032 | 194,204 | 175,793 | 163,194 | 150,487 | 200,182 | 178,446 | 188,275 | $ 686,223 | 717,390 | 716,070 | |
Entergy New Orleans [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 594,417 | 624,733 | 631,744 | |||||||||
Entergy New Orleans [Member] | Natural Gas, US Regulated [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 91,806 | 92,657 | 84,326 | |||||||||
Entergy New Orleans [Member] | Residential [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 245,081 | 261,585 | ||||||||||
Entergy New Orleans [Member] | Commercial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 202,138 | 217,182 | ||||||||||
Entergy New Orleans [Member] | Industrial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 31,824 | 33,371 | ||||||||||
Entergy New Orleans [Member] | Governmental [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 70,865 | 72,058 | ||||||||||
Entergy New Orleans [Member] | Sales for Resale [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 38,626 | 29,506 | |||||||||
Entergy New Orleans [Member] | Other Electric [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 9,842 | 4,718 | |||||||||
Entergy New Orleans [Member] | Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 598,376 | 618,420 | ||||||||||
Entergy New Orleans [Member] | Non-Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | (3,959) | 6,313 | |||||||||
Entergy New Orleans [Member] | Billed Retail [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 549,908 | 584,196 | ||||||||||
Entergy Texas [Member] | ||||||||||||
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the year ended December 31, 2019 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $795,269 $1,270,478 $562,219 $245,081 $658,453 Commercial 538,850 947,412 444,173 202,138 343,013 Industrial 520,958 1,450,966 164,491 31,824 373,048 Governmental 20,795 71,046 44,300 70,865 21,464 Total billed retail 1,875,872 3,739,902 1,215,183 549,908 1,395,978 Sales for resale (a) 257,864 333,395 39,295 38,626 59,074 Other electric revenues (b) 112,618 135,783 58,269 9,842 32,424 Revenues from contracts with customers 2,246,354 4,209,080 1,312,747 598,376 1,487,476 Other revenues (c) 13,240 13,947 10,296 (3,959 ) 1,479 Total electric revenues 2,259,594 4,223,027 1,323,043 594,417 1,488,955 Natural gas — 62,148 — 91,806 — Total operating revenues $2,259,594 $4,285,175 $1,323,043 $686,223 $1,488,955 The Registrant Subsidiaries’ total revenues for the year ended December 31, 2018 were as follows: 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $807,098 $1,244,413 $578,568 $261,585 $673,858 Commercial 425,523 941,321 461,832 217,182 380,619 Industrial 434,387 1,462,462 175,056 33,371 393,951 Governmental 16,537 68,587 43,747 72,058 24,953 Total billed retail 1,683,545 3,716,783 1,259,203 584,196 1,473,381 Sales for resale (a) 248,861 356,603 25,812 29,506 97,478 Other electric revenues (b) 111,875 144,978 39,897 4,718 31,413 Revenues from contracts with customers 2,044,281 4,218,364 1,324,912 618,420 1,602,272 Other revenues (c) 16,362 14,177 10,200 6,313 3,630 Total electric revenues 2,060,643 4,232,541 1,335,112 624,733 1,605,902 Natural gas — 63,779 — 92,657 — Total operating revenues $2,060,643 $4,296,320 $1,335,112 $717,390 $1,605,902 | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,488,955 | 1,605,902 | ||||||||||
Entergy Texas [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 342,024 | 442,877 | 363,580 | 340,474 | 376,245 | 477,231 | 403,486 | 348,940 | 1,488,955 | 1,605,902 | 1,544,893 | |
Entergy Texas [Member] | Natural Gas, US Regulated [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | ||||||||||
Entergy Texas [Member] | Residential [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 658,453 | 673,858 | ||||||||||
Entergy Texas [Member] | Commercial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 343,013 | 380,619 | ||||||||||
Entergy Texas [Member] | Industrial [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 373,048 | 393,951 | ||||||||||
Entergy Texas [Member] | Governmental [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 21,464 | 24,953 | ||||||||||
Entergy Texas [Member] | Sales for Resale [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 59,074 | 97,478 | |||||||||
Entergy Texas [Member] | Other Electric [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 32,424 | 31,413 | |||||||||
Entergy Texas [Member] | Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,487,476 | 1,602,272 | ||||||||||
Entergy Texas [Member] | Non-Customer [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 1,479 | 3,630 | |||||||||
Entergy Texas [Member] | Billed Retail [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,395,978 | 1,473,381 | ||||||||||
System Energy [Member] | Electricity [Member] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 148,825 | $ 145,472 | $ 139,009 | $ 140,104 | $ 116,843 | $ 78,965 | $ 112,456 | $ 148,443 | $ 573,410 | $ 456,707 | $ 633,458 | |
[1] | (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. | |||||||||||
[2] | (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. | |||||||||||
[3] | (c) Other revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Quarterly Financial Data (Detai
Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating income (loss) | $ 248,539 | $ 519,929 | $ 338,775 | $ 283,254 | $ (228,931) | $ 271,035 | $ 91,597 | $ 335,664 | $ 1,390,497 | $ 469,365 | $ 1,360,407 |
Consolidated net income | 389,606 | 369,459 | 240,533 | 258,646 | (62,323) | 539,818 | 248,860 | 136,200 | 1,258,244 | 862,555 | 425,353 |
Net Income (Loss) Available to Common Stockholders, Basic | 385,025 | 365,240 | 236,424 | 254,537 | (65,900) | 536,379 | 245,421 | 132,761 | 1,241,226 | 848,661 | 411,612 |
Net Income (Loss) Attributable to Parent | 1,241,226 | 848,661 | 411,612 | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 2,462,305 | $ 3,140,575 | $ 2,666,209 | $ 2,609,584 | $ 2,512,482 | $ 3,104,319 | $ 2,668,770 | $ 2,723,881 | $ 10,878,673 | $ 11,009,452 | $ 11,074,481 |
Basic earnings per share (in usd per share) | $ 1.96 | $ 1.84 | $ 1.22 | $ 1.34 | $ (0.37) | $ 2.96 | $ 1.36 | $ 0.73 | $ 6.36 | $ 4.68 | $ 2.29 |
Diluted earnings per share (in usd per share) | $ 1.94 | $ 1.82 | $ 1.22 | $ 1.32 | $ (0.36) | $ 2.92 | $ 1.34 | $ 0.73 | $ 6.30 | $ 4.63 | $ 2.28 |
Electricity [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 9,429,978 | $ 9,384,111 | $ 9,278,895 | ||||||||
Entergy Arkansas [Member] | |||||||||||
Operating income (loss) | $ 32,576 | $ 182,176 | $ 69,774 | $ 42,471 | $ (82,704) | $ 34,785 | $ 26,501 | $ 66,647 | 326,997 | 45,229 | 306,771 |
Consolidated net income | 23,828 | 149,716 | 50,299 | 39,121 | 5,006 | 128,890 | 82,556 | 36,255 | 262,964 | 252,707 | 139,844 |
Net Income (Loss) Available to Common Stockholders, Basic | 23,828 | 149,716 | 50,299 | 39,121 | 4,828 | 128,533 | 82,199 | 35,898 | 262,964 | 251,458 | 138,416 |
Revenue from Contract with Customer, Excluding Assessed Tax | 2,259,594 | 2,060,643 | |||||||||
Entergy Arkansas [Member] | Electricity [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 483,327 | 687,526 | 542,929 | 545,812 | 446,615 | 568,399 | 494,605 | 551,024 | 2,259,594 | 2,060,643 | 2,139,919 |
Entergy Louisiana [Member] | |||||||||||
Operating income (loss) | 164,424 | 336,754 | 241,520 | 153,944 | 147,774 | 236,518 | 150,160 | 141,319 | 896,642 | 675,771 | 874,637 |
Consolidated net income | 125,560 | 255,260 | 183,084 | 127,633 | 161,355 | 218,308 | 184,358 | 111,593 | 691,537 | 675,614 | 316,347 |
Net Income (Loss) Available to Common Stockholders, Basic | 691,537 | 675,614 | 316,347 | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 987,851 | 1,231,677 | 1,106,317 | 959,330 | 987,576 | 1,206,612 | 1,072,788 | 1,029,344 | 4,285,175 | 4,296,320 | 4,300,550 |
Entergy Louisiana [Member] | Electricity [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 4,223,027 | 4,232,541 | 4,246,020 | ||||||||
Entergy Mississippi [Member] | |||||||||||
Operating income (loss) | 40,331 | 87,024 | 45,607 | 30,792 | 23,600 | 45,215 | (63,801) | 41,432 | 203,754 | 46,446 | 223,816 |
Consolidated net income | 21,623 | 56,237 | 26,667 | 15,398 | 14,260 | 50,733 | 38,242 | 22,843 | 119,925 | 126,078 | 110,032 |
Net Income (Loss) Available to Common Stockholders, Basic | 21,623 | 56,237 | 26,667 | 15,398 | 14,141 | 50,495 | 38,003 | 22,605 | 119,925 | 125,244 | 109,079 |
Revenue from Contract with Customer, Excluding Assessed Tax | 1,323,043 | 1,335,112 | |||||||||
Entergy Mississippi [Member] | Electricity [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 339,330 | 398,732 | 302,737 | 282,244 | 297,946 | 367,734 | 353,689 | 315,743 | 1,323,043 | 1,335,112 | 1,198,229 |
Entergy New Orleans [Member] | |||||||||||
Operating income (loss) | 6,164 | 28,876 | 17,509 | 16,136 | 6,836 | 21,544 | 27,943 | 17,869 | 68,685 | 74,192 | 96,409 |
Consolidated net income | 5,695 | 24,908 | 13,003 | 9,023 | 2,594 | 21,407 | 18,269 | 10,882 | 52,629 | 53,152 | 44,553 |
Net Income (Loss) Available to Common Stockholders, Basic | 5,695 | 24,908 | 13,003 | 9,023 | 2,594 | 21,407 | 18,269 | 10,882 | 52,629 | 53,152 | 43,712 |
Revenue from Contract with Customer, Excluding Assessed Tax | 153,032 | 194,204 | 175,793 | 163,194 | 150,487 | 200,182 | 178,446 | 188,275 | 686,223 | 717,390 | 716,070 |
Entergy New Orleans [Member] | Electricity [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 594,417 | 624,733 | 631,744 | ||||||||
Entergy Texas [Member] | |||||||||||
Operating income (loss) | 24,229 | 69,510 | 36,022 | 16,741 | 6,741 | 99,966 | 58,637 | 41,082 | 146,502 | 206,426 | 199,558 |
Consolidated net income | 25,895 | 73,224 | 38,936 | 21,342 | 48,250 | 65,846 | 30,789 | 17,350 | 159,397 | 162,235 | 76,173 |
Net Income (Loss) Available to Common Stockholders, Basic | 25,425 | 73,114 | 38,936 | 21,342 | 48,250 | 65,846 | 30,789 | 17,350 | 158,817 | 162,235 | 76,173 |
Revenue from Contract with Customer, Excluding Assessed Tax | 1,488,955 | 1,605,902 | |||||||||
Entergy Texas [Member] | Electricity [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 342,024 | 442,877 | 363,580 | 340,474 | 376,245 | 477,231 | 403,486 | 348,940 | 1,488,955 | 1,605,902 | 1,544,893 |
System Energy [Member] | |||||||||||
Operating income (loss) | 30,231 | 29,086 | 24,300 | 31,368 | 7,212 | (17,879) | 23,406 | 30,941 | 114,985 | 43,680 | 166,983 |
Consolidated net income | 26,039 | 25,031 | 24,472 | 23,578 | 25,442 | 22,972 | 23,387 | 22,308 | 99,120 | 94,109 | 78,596 |
Net Income (Loss) Available to Common Stockholders, Basic | 99,120 | 94,109 | 78,596 | ||||||||
System Energy [Member] | Electricity [Member] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 148,825 | $ 145,472 | $ 139,009 | $ 140,104 | $ 116,843 | $ 78,965 | $ 112,456 | $ 148,443 | $ 573,410 | $ 456,707 | $ 633,458 |
Quarterly Financial Data (Narra
Quarterly Financial Data (Narrative) (Details) - USD ($) $ in Thousands | Jan. 01, 2018 | Aug. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2015 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Restructuring Cost and Reserve [Line Items] | ||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 226,678 | $ 491,739 | $ 357,251 | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 35.00% | |||||
Increase (Decrease) in Regulatory Liabilities | (14,781) | $ (803,323) | $ 2,915,795 | |||||
Asset Impairment Charges | 290,027 | 532,321 | 538,372 | |||||
After-Tax Asset Impairment Charge | $ 4,200 | |||||||
Entergy Louisiana [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Increase (Decrease) in Regulatory Liabilities | (35,881) | (125,185) | 605,453 | |||||
Regulatory Liabilities | $ 18,800 | 2,400 | 18,800 | |||||
Write-Off of Waterford 3 Replacement Steam Generator | $ 45,000 | |||||||
Tax benefit resulting from settlement of IRS audit | 52,000 | |||||||
Entergy Arkansas [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Increase (Decrease) in Regulatory Liabilities | 39,293 | (341,682) | 1,043,507 | |||||
Entergy Mississippi [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Increase (Decrease) in Regulatory Liabilities | (21,524) | (131,856) | 405,395 | |||||
Entergy New Orleans [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Increase (Decrease) in Regulatory Liabilities | (22,105) | (28,459) | 110,147 | |||||
Entergy Wholesale Commodities [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Reduction in income tax expense due to internal restructuring | 156,000 | |||||||
Asset impairment excluding loss from sale of assets | 100,000 | |||||||
Asset Write-Offs, Impairments, And Related Charges | 290,000 | 532,000 | $ 538,000 | |||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | $ 79,000 | 421,000 | ||||||
Reduction in income tax expense resulting from restructuring of investment holdings | 107,000 | |||||||
Reduction in income tax expense resulting from state income tax audit | 23,000 | |||||||
Utility [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Reduction to income tax expense resulting from customer credits due to internal restructuring | 170,000 | |||||||
Regulatory liability resulting from customer credits recognized as a result of internal restructuring | 40,000 | 40,000 | ||||||
Regulatory liability resulting from customer credits recognized as a result of internal restructuring, net of tax | 30,000 | $ 30,000 | ||||||
Vermont Yankee [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Asset Impairment Charges | $ 173,000 | |||||||
Pilgrim [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 190,000 | |||||||
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes | $ 156,000 |
Schedule II - Valuation And Q_2
Schedule II - Valuation And Qualifying Accounts (Details) - Allowance for Doubtful Accounts Receivable [Member] - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Balance at Beginning of Period | $ 7,322 | $ 13,587 | $ 11,924 | |
Valuation Allowances And Reserves Charged To Cost And Expense And Other Accounts | 2,806 | 3,936 | 4,211 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | [1] | 2,724 | 10,201 | 2,548 |
Balance at End of Period | 7,404 | 7,322 | 13,587 | |
Entergy Arkansas [Member] | ||||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Balance at Beginning of Period | 1,264 | 1,063 | 1,211 | |
Valuation Allowances And Reserves Charged To Cost And Expense And Other Accounts | 1,000 | 810 | 503 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | [1] | 1,095 | 609 | 651 |
Balance at End of Period | 1,169 | 1,264 | 1,063 | |
Entergy New Orleans [Member] | ||||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Balance at Beginning of Period | 3,222 | 3,057 | 3,059 | |
Valuation Allowances And Reserves Charged To Cost And Expense And Other Accounts | 316 | 187 | 152 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | [1] | 312 | 22 | 154 |
Balance at End of Period | 3,226 | 3,222 | 3,057 | |
Entergy Mississippi [Member] | ||||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Balance at Beginning of Period | 563 | 574 | 549 | |
Valuation Allowances And Reserves Charged To Cost And Expense And Other Accounts | 406 | 265 | 255 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | [1] | 333 | 276 | 230 |
Balance at End of Period | 636 | 563 | 574 | |
Entergy Louisiana [Member] | ||||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Balance at Beginning of Period | 1,813 | 8,430 | 6,277 | |
Valuation Allowances And Reserves Charged To Cost And Expense And Other Accounts | 762 | 2,395 | 3,108 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | [1] | 673 | 9,012 | 955 |
Balance at End of Period | 1,902 | 1,813 | 8,430 | |
Entergy Texas [Member] | ||||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Balance at Beginning of Period | 461 | 463 | 828 | |
Valuation Allowances And Reserves Charged To Cost And Expense And Other Accounts | 321 | 279 | 192 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | [1] | 311 | 281 | 557 |
Balance at End of Period | $ 471 | $ 461 | $ 463 | |
[1] | (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Uncategorized Items - etr-12312
Label | Element | Value |
Restatement Adjustment [Member] | ||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | $ 7,936,155,000 |
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 8,844,305,000 |
Additional Paid-in Capital [Member] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
Additional Paid-in Capital [Member] | Restatement Adjustment [Member] | ||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 5,951,431,000 |
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 5,433,433,000 |
Common Stock [Member] | Restatement Adjustment [Member] | ||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 2,616,000 |
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 2,548,000 |
Retained Earnings [Member] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 6,806,000 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 576,257,000 |
Retained Earnings [Member] | Restatement Adjustment [Member] | ||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 8,727,956,000 |
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 8,553,959,000 |
Treasury Stock [Member] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
Treasury Stock [Member] | Restatement Adjustment [Member] | ||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | (5,397,637,000) |
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | (5,273,719,000) |
AOCI Attributable to Parent [Member] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | (6,806,000) |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | (632,617,000) |
AOCI Attributable to Parent [Member] | Restatement Adjustment [Member] | ||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | (656,148,000) |
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | (563,979,000) |
Subsidiaries Preferred Stock [Member] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
Subsidiaries Preferred Stock [Member] | Restatement Adjustment [Member] | ||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 0 |
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | $ 0 |