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ENTERGY STATISTICAL REPORT | ||
AND INVESTOR GUIDE | ||
2020 |
Our Vision: We Power Life | ||
Our Mission: We exist to grow a world-class energy business that creates sustainable value for our four key stakeholders – our customers, our employees, our communities, and our owners. | ||
Entergy Corporation (NYSE: ETR) is an integrated energy company engaged in electric power production, transmission and retail distribution operations. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 30,000 megawatts of electric generating capacity, including 7,000 megawatts of nuclear power. Headquartered in New Orleans, Louisiana, Entergy has annual revenues of $10 billion and more than 13,000 employees. | ||
We have assembled the statistics and facts in this report to support your review and analysis of Entergy’s results over the last three years. This information is available in two electronic files, Excel and PDF in order to facilitate easier access and analysis. | ||
Entergy Investor Relations |
TABLE OF CONTENTS | Note: The Excel Tab labels correspond to the page numbers | |||||||||||||
in the PDF version of the 2020 report. | ||||||||||||||
Excel Tab | Excel Tab | |||||||||||||
ABOUT THIS PUBLICATION | Page 2 | Utility Securities Detail | Pages 31 – 34 | |||||||||||
FORWARD-LOOKING INFORMATION | Page 2 | Utility Long-Term Debt and Preferred Stock | Page 31 | |||||||||||
REGULATION G COMPLIANCE | Page 2 | Entergy Arkansas, LLC | Page 31 | |||||||||||
ENTERGY AT A GLANCE | Pages 3 – 4 | Entergy Utility Holding Company, LLC | Page 31 | |||||||||||
Entergy Louisiana, LLC | Page 32 | |||||||||||||
ENTERGY CORPORATION AND SUBSIDIARIES | Entergy Mississippi, LLC | Page 33 | ||||||||||||
Selected Financial and Operating Data | Page 5 | Entergy New Orleans, LLC | Page 33 | |||||||||||
Selected Financial Data | Page 5 | Entergy Texas, Inc. | Page 34 | |||||||||||
Utility Electric Operating Data | Page 5 | System Energy Resources, Inc. | Page 34 | |||||||||||
Entergy Wholesale Commodities Operating Data | Page 5 | Utility Statistical Information | Pages 35 – 47 | |||||||||||
Employees | Page 5 | Utility Total Capability | Page 35 | |||||||||||
Owned and Leased Capability | Page 5 | Utility Selected Operating Data | Page 35 | |||||||||||
Consolidated Quarterly Financial Metrics | Page 6 | Utility Electric Statisitcal Information | Page 36 | |||||||||||
Consolidated Annual Financial Metrics | Page 6 | Entergy Arkansas, LLC | Pages 37 – 38 | |||||||||||
Financial Results | Page 7 | Entergy Louisiana, LLC | Pages 39 – 40 | |||||||||||
GAAP to Non-GAAP Reconciliations: | Page 7 | Entergy Mississippi, LLC | Pages 41 – 42 | |||||||||||
Consolidated Quarterly Results | Page 7 | Entergy New Orleans, LLC | Pages 43 – 44 | |||||||||||
Consolidated Quarterly Adjustments | Pages 8 – 9 | System Energy Resources, Inc. | Page 44 | |||||||||||
Consolidated Annual Results | Page 10 | Entergy Texas, Inc. | Pages 45 – 46 | |||||||||||
Consolidated Annual Adjustments | Pages 11 – 12 | Utility Nuclear Plant Statistics | Page 47 | |||||||||||
Consolidated Statements of Operations | Page 13 | Utility Regulatory Information | Page 48 | |||||||||||
Consolidating Income Statement | Page 14 | State Regulatory Commissions | Page 48 | |||||||||||
Consolidated Balance Sheets | Pages 15 – 16 | Commission/Council Members | Page 48 | |||||||||||
Consolidating Balance Sheet | Pages 17 – 18 | |||||||||||||
Consolidated Statements of Cash Flow | Pages 19 – 20 | ENTERGY WHOLESALE COMMODITIES | ||||||||||||
Cash Flow Information by Business | Page 20 | EWC Quarterly Financial Metrics | Page 49 | |||||||||||
Consolidated Statements of Changes in Equity | Page 21 | EWC Annual Financial Metrics | Page 49 | |||||||||||
Consolidated Statements of Comprehensive | Page 22 | EWC Quarterly Operational Metrics | Page 49 | |||||||||||
Income (Loss) | EWC Annual Operational Metrics | Page 49 | ||||||||||||
Consolidated Capital Expenditures | Page 23 | EWC Total Capacity | Page 49 | |||||||||||
Historical Capital Expenditures | Page 23 | EWC Nuclear Plant Statistics | Page 50 | |||||||||||
Entergy Corporation Securities Detail | Page 23 | EWC Nuclear Plant Additional Information | Page 50 | |||||||||||
Entergy Corporation Long-Term Debt | Page 23 | EWC Non-Nuclear Wholesale Assets | Page 50 | |||||||||||
Securities Ratings (Outlook) | Page 23 | Plant Statistics | ||||||||||||
Preferred Member Interests | Page 23 | EWC Non-Nuclear Wholesale Assets | Page 50 | |||||||||||
UTILITY | Plant Emissions | |||||||||||||
Utility Quarterly Financial Metrics | Page 24 | EWC Non-Nuclear Assets Securities Detail | Page 51 | |||||||||||
Utility Annual Financial Metrics | Page 24 | Vermont Yankee Credit Facility | Page 51 | |||||||||||
Utility Securities Ratings (Outlook) | Page 24 | Preferred Stock | Page 51 | |||||||||||
Utility Historical Capital Expenditures | Page 24 | |||||||||||||
Utility Financial Results | Pages 25 – 30 | DEFINITIONS OF OPERATIONAL MEASURES AND | ||||||||||||
Utility Consolidating Income Statement | Page 25 | GAAP AND NON-GAAP FINANCIAL MEASURES | Page 52 | |||||||||||
Utility Consolidating Balance Sheet | Pages 26 – 27 | |||||||||||||
Utility Selected Annual Financial Metrics | Pages 28 – 30 | REG G RECONCILIATIONS | ||||||||||||
Financial Measures | Pages 53 – 66 | |||||||||||||
INVESTOR INFORMATION | Page 67 | |||||||||||||
ABOUT THIS PUBLICATION | ● the risk that an incident at any nuclear generation facility in the U.S. could lead to the | |||||||
This publication is unaudited and should be used in conjunction with Entergy’s 2020 | assessment of significant retrospective assessments and/or retrospective insurance | |||||||
Annual Report to Shareholders and Form 10-K filed with the Securities and Exchange | premiums as a result of Entergy’s participation in a secondary financial protection | |||||||
Commission. It has been prepared for information purposes and is not intended for use | system, a utility industry mutual insurance company, and industry self- insurance | |||||||
in connection with any sale or purchase of, or any offer to buy, any securities of Entergy | programs; | |||||||
Corporation or its subsidiaries. | ● effects of climate change, including the potential for increases in extreme weather | |||||||
events and sea levels or coastal land and wetland loss; | ||||||||
FORWARD-LOOKING INFORMATION | ● changes in the quality and availability of water supplies and the related regulation of | |||||||
In this report and from time to time, Entergy Corporation makes statements concerning | water use and diversion; | |||||||
its expectations, beliefs, plans, objectives, goals, projections, strategies, and future | ● Entergy’s ability to manage its capital projects, including completion of projects timely | |||||||
events or performance. Such statements are “forward-looking statements” within the | and within budget and to obtain the anticipated performance or other benefits, and its | |||||||
meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” | operation and maintenance costs; | |||||||
“will,” “could,” “project,” “believe,” “anticipate,” “intend,” “expect,” “estimate,” “continue,” | ● Entergy’s ability to purchase and sell assets at attractive prices and on other attractive | |||||||
“potential,” “plan,” “predict,” “forecast,” and other similar words or expressions are | terms; | |||||||
intended to identify forward-looking statements but are not the only means to identify | ● the economic climate, and particularly economic conditions in Entergy’s Utility service | |||||||
these statements. Although Entergy believes that these forward-looking statements and | area and the northern United States and events and circumstances that could influence | |||||||
the underlying assumptions are reasonable, it cannot provide assurance that they will | economic conditions in those areas, including power prices, and the risk that anticipated | |||||||
prove correct. Any forward-looking statement is based on information current as of the | load growth may not materialize; | |||||||
date of this report and speaks only as of the date on which such statement is made. | ● changes to federal income tax laws and regulations, including continued impact of the | |||||||
Except to the extent required by the federal securities laws, Entergy undertakes no | Tax Cuts and Jobs Act and its intended and unintended consequences on financial | |||||||
obligation to publicly update or revise any forward-looking statements, whether as a | results and future cash flows; | |||||||
result of new information, future events, or otherwise. | ● the effects of Entergy’s strategies to reduce tax payments; | |||||||
Forward-looking statements involve a number of risks and uncertainties. There are | ● changes in the financial markets and regulatory requirements for the issuance of | |||||||
factors that could cause actual results to differ materially from those expressed or | securities, particularly as they affect access to capital and Entergy’s ability to refinance | |||||||
implied in the forward-looking statements, including (a) those factors discussed or | existing securities, execute share repurchase programs, and fund investments and | |||||||
incorporated by reference in Item 1A. Risk Factors contained in the Form 10-K for | acquisitions; | |||||||
the year ended Dec. 31, 2020, (b) those factors discussed or incorporated by reference | ● actions of rating agencies, including changes in the ratings of debt and preferred | |||||||
in Management’s Financial Discussion and Analysis contained in the Form 10-K for the | stock, changes in general corporate ratings, and changes in the rating agencies’ ratings | |||||||
year ended Dec. 31, 2020, and (c) the following factors (in addition to others described | criteria; | |||||||
elsewhere in this report and in subsequent securities filings): | ● changes in inflation and interest rates; | |||||||
● resolution of pending and future rate cases, formula rate proceedings and related | ● the effects of litigation and government investigations or proceedings; | |||||||
negotiations, including various performance-based rate discussions, Entergy’s utility | ● changes in technology, including (i) Entergy’s ability to implement new or emerging | |||||||
supply plan, and recovery of fuel and purchased power costs, as well as delays in cost | technologies, (ii) the impact of changes relating to new, developing, or alternative | |||||||
recovery resulting from these proceedings; | sources of generation such as distributed energy and energy storage, renewable energy, | |||||||
● continuing long-term risks and uncertainties associated with the termination of the | energy efficiency, demand side management and other measures that reduce load and | |||||||
System Agreement in 2016, including the potential absence of federal authority to | government policies incentivizing development of the foregoing, and (iii) competition from | |||||||
resolve certain issues among the Utility operating companies and their retail regulators; | other companies offering products and services to Entergy’s customers based on new or | |||||||
● regulatory and operating challenges and uncertainties and economic risks associated | emerging technologies or alternative sources of generation; | |||||||
with the Utility operating companies’ participation in MISO, including the benefits of | ● Entergy's ability to effectively formulate and implement plans to reduce its carbon | |||||||
continued MISO participation, the effect of current or projected MISO market rules and | emission rate and aggregate carbon emissions, including its commitment to achieve | |||||||
market and system conditions in the MISO markets, the allocation of MISO system | net-zero carbon emissions by 2050, and the potential impact on its business of | |||||||
transmission upgrade costs, the MISO-wide base rate of return on equity allowed or | attempting to achieve such objectives; | |||||||
any MISO-related charges and credits required by the FERC, and the effect of planning | ● the effects, including increased security costs, of threatened or actual terrorism, | |||||||
decisions that MISO makes with respect to future transmission investments by the | cyber-attacks or data security breaches, natural or man-made electromagnetic pulses | |||||||
Utility operating companies; | that affect transmission or generation infrastructure, accidents, and war or a catastrophic | |||||||
● changes in utility regulation, including with respect to retail and wholesale competition, | event such as a nuclear accident or a natural gas pipeline explosion; | |||||||
the ability to recover net utility assets and other potential stranded costs, and the | ● the effects of a global event or pandemic, such as the COVID-19 global pandemic, | |||||||
application of more stringent return on equity criteria, transmission reliability | including economic and societal disruptions; volatility in the capital markets (and any | |||||||
requirements or market power criteria by the FERC or the U.S. Department of Justice; | related increased cost of capital or any inability to access the capital markets or draw | |||||||
● changes in the regulation or regulatory oversight of Entergy’s nuclear generating | on available bank credit facilities); reduced demand for electricity, particularly from | |||||||
facilities and nuclear materials and fuel, including with respect to the planned or actual | commercial and industrial customers; increased or unrecoverable costs; supply chain, | |||||||
shutdown and sale of each of the nuclear generating facilities owned or operated by | vendor, and contractor disruptions; delays in completion of capital or other construction | |||||||
Entergy Wholesale Commodities, and the effects of new or existing safety or | projects, maintenance, and other operations activities, including prolonged outages; | |||||||
environmental concerns regarding nuclear power plants and nuclear fuel; | impacts to Entergy’s workforce availability, health, or safety; increased cybersecurity | |||||||
● resolution of pending or future applications, and related regulatory proceedings and | risks as a result of many employees telecommuting; increased late or uncollectible | |||||||
litigation, for license modifications or other authorizations required of nuclear generating | customer payments; regulatory delays; executive orders affecting, or increased | |||||||
facilities and the effect of public and political opposition on these applications, regulatory | regulation of, Entergy's business; changes in credit ratings or outlooks as a result of | |||||||
proceedings, and litigation; | any of the foregoing; or other adverse impacts on Entergy’s ability to execute on its | |||||||
● the performance of and deliverability of power from Entergy’s generation resources, | business strategies and initiatives or, more generally, on Entergy’s results of operations, | |||||||
including the capacity factors at Entergy’s nuclear generating facilities; | financial condition, and liquidity; | |||||||
● increases in costs and capital expenditures that could result from changing regulatory | ● Entergy’s ability to attract and retain talented management, directors, and employees | |||||||
requirements, emerging operating and industry issues, and the commitment of | with specialized skills; |
substantial human and capital resources required for the safe and reliable operation and | ● Entergy’s ability to attract, retain and manage an appropriately qualified workforce; | |||||||
maintenance of Entergy’s nuclear generating facilities; | ● changes in accounting standards and corporate governance; | |||||||
● Entergy’s ability to develop and execute on a point of view regarding future prices of | ● declines in the market prices of marketable securities and resulting funding | |||||||
electricity, natural gas, and other energy-related commodities; | requirements and the effects on benefits costs for Entergy’s defined benefit pension | |||||||
● prices for power generated by Entergy’s merchant generating facilities and the ability | and other postretirement benefit plans; | |||||||
to hedge, meet credit support requirements for hedges, sell power forward or otherwise | ● future wage and employee benefit costs, including changes in discount rates and | |||||||
reduce the market price risk associated with those facilities, including the Entergy | returns on benefit plan assets; | |||||||
Wholesale Commodities nuclear plants, especially in light of the planned shutdown and | ● changes in decommissioning trust fund values or earnings or in the timing of, | |||||||
sale of each of these nuclear plants; | requirements for, or cost to decommission Entergy’s nuclear plant sites and the | |||||||
● the prices and availability of fuel and power Entergy must purchase for its Utility | implementation of decommissioning of such sites following shutdown; | |||||||
customers, and Entergy’s ability to meet credit support requirements for fuel and power | ● the decision to cease merchant power generation at all Entergy Wholesale | |||||||
supply contracts; | Commodities nuclear power plants by mid-2022, including the implementation of the | |||||||
● volatility and changes in markets for electricity, natural gas, uranium, emissions | planned shutdowns and sales of Indian Point 2, Indian Point 3, and Palisades; | |||||||
allowances, and other energy-related commodities, and the effect of those changes on | ● the effectiveness of Entergy’s risk management policies and procedures and the | |||||||
Entergy and its customers; | ability and willingness of its counterparties to satisfy their financial and performance | |||||||
● changes in law resulting from federal or state energy legislation or legislation | commitments; | |||||||
subjecting energy derivatives used in hedging and risk management transactions to | ● the potential for the factors listed herein to lead to the impairment of long-lived assets; | |||||||
governmental regulation; | and | |||||||
● changes in environmental laws and regulations, agency positions or associated | ● Entergy and its subsidiaries' ability to successfully execute on their business | |||||||
litigation, including requirements for reduced emissions of sulfur dioxide, nitrogen oxide, | strategies, including their ability to complete strategic transactions that Entergy may | |||||||
greenhouse gases, mercury, particulate matter and other regulated air emissions, heat | undertake. | |||||||
and other regulated discharges to water, requirements for waste management and | ||||||||
disposal and for the remediation of contaminated sites, wetlands protection and | REGULATION G COMPLIANCE | |||||||
permitting, and changes in costs of compliance with environmental laws and regulations; | Financial performance measures shown in this report include those calculated and | |||||||
● changes in laws and regulations, agency positions, or associated litigation related to | presented in accordance with generally accepted accounting principles (GAAP), as well | |||||||
protected species and associated critical habitat designations; | as those that are considered non-GAAP measures. This report includes non-GAAP | |||||||
● the effects of changes in federal, state, or local laws and regulations, and other | measures of adjusted earnings; adjusted EPS; adjustments; adjusted EBITDA; adjusted | |||||||
governmental actions or policies, including changes in monetary, fiscal, tax, | common dividend payout ratio; adjusted ROIC; adjusted ROE; gross liquidity; adjusted | |||||||
environmental, trade/tariff, domestic purchase requirements, or energy policies; | return on average member's equity; adjusted net revenue; adjusted non-fuel O&M; total | |||||||
● the effects of full or partial shutdowns of the federal government or delays in obtaining | debt, excluding securitization debt; debt to capital, excluding securitization debt; net | |||||||
government or regulatory actions or decisions; | debt to net capital, excluding securitization debt; parent debt to total debt, excluding | |||||||
● uncertainty regarding the establishment of interim or permanent sites for spent nuclear | securitization debt; FFO; FFO to debt, excluding securitization debt; FFO to debt | |||||||
fuel and nuclear waste storage and disposal and the level of spent fuel and nuclear | excluding securitization debt, return of unprotected excess ADIT, and severance, and | |||||||
waste disposal fees charged by the U.S. government or other providers related to such | retention payments associated with exit of EWC. We have prepared reconciliations of | |||||||
sites; | these measures to the most directly comparable GAAP measures. Reconciliations can | |||||||
● variations in weather and the occurrence of hurricanes and other storms and disasters, | be found on pages 7, 10, and 53 – 66. | |||||||
including uncertainties associated with efforts to remediate the effects of hurricanes | ||||||||
(including Hurricane Laura, Hurricane Delta, and Hurricane Zeta), ice storms, or other | ||||||||
weather events and the recovery of costs associated with restoration, including | ||||||||
accessing funded storm reserves, federal and local cost recovery mechanisms, | ||||||||
securitization, and insurance, as well as any related unplanned outages; |
ENTERGY AT A GLANCE | ||||||||
VISION, MISSION AND STAKEHOLDER OBJECTIVES | ||||||||
We power life. This is our vision. It goes much further than powering the grid. Together, we are on a journey with our stakeholders to improve lives, build businesses and create prosperity. | ||||||||
We exist to grow a world-class energy business that creates sustainable value for our four key stakeholders – our customers, our employees, our communities, and our owners. | ||||||||
● For our customers, we create value by delivering top-quartile customer experience. We work directly with customers to anticipate their needs and exceed their expectations while also keeping rates reasonable. | ||||||||
● For our employees, we create value by advocating for our employees to live safe, all day, every day. We strive to earn top-quartile organizational health scores. We provide a rewarding, engaging, diverse, and inclusive work environment with fair compensation and benefits while also providing opportunities for career advancement. | ||||||||
● For our communities, we create value by achieving top-decile corporate social responsibility performance. We are active in economic development, philanthropy, volunteerism, and advocacy, and we operate our business safely and in a socially and environmentally responsible way. | ||||||||
● For our owners, we create value by delivering top-quartile total shareholder returns. We are relentless in our pursuit of opportunities to optimize our business. | ||||||||
BUSINESS STRATEGY | ||||||||
Our strategy to achieve our stakeholder objectives has two key aspects. First, we invest in the utility for the benefit of our customers, which supports steady, predictable growth in earnings and dividends. Second, we manage risk by ensuring our utility investments are customer-centric, supported by progressive regulatory constructs, and executed with disciplined project management. | ||||||||
ENTERGY BY THE NUMBERS | ||||||||
GAAP Revenues | $10.1 billion | |||||||
GAAP Net Income | $1.4 billion | |||||||
Total Assets | $58.2 billion | |||||||
Utility Retail Electric Customers | 3.0 million | |||||||
Interconnected High-Voltage Transmission Lines | 16,100 circuit miles | |||||||
Distribution Lines | 105,500 circuit miles | |||||||
Utility Billed Retail Electric Energy Sales | 124,828 GWh | |||||||
EWC Billed Electric Energy Sales | 20,581 GWh | |||||||
Employees at Year-end | 13,400 | |||||||
Total Owned and Leased Generating Capability by Fuel Source in MW: | ||||||||
Modern Gas | 9,738 | |||||||
Nuclear | 7,069 | |||||||
Legacy Gas | 6,965 | |||||||
Coal | 2,392 | |||||||
Hydro/Solar | 101 |
ENTERGY AT A GLANCE | ||||||||
OPERATIONS | ||||||||
UTILITY | ||||||||
The Utility business segment includes the generation, transmission, | ENTERGY WHOLESALE COMMODITIES (EWC) | |||||||
distribution, and sale of electric power, and operation of a small natural gas | Entergy has announced the sale and closure of the EWC nuclear assets, completing | |||||||
distribution business. | its plan to exit the merchant power business and transition to a pure-play utility. | |||||||
● Five retail electric utilities with 3 million customers | ||||||||
● Four states – Arkansas, Louisiana, Mississippi, Texas | The EWC business segment includes the ownership, operation, and decommissioning | |||||||
● 24,020 MW generating capability | of nuclear power plants located in the northern United States and the sale of the electric | |||||||
● Two gas utilities with 202,000 customers | power produced by its operating plants to wholesale customers. EWC also provides | |||||||
services to other nuclear power plant owners and owns interest in non-nuclear power | ||||||||
ENTERGY ARKANSAS, LLC (E-AR) | plants that sell the electric power produced by those plants to wholesale customers. | |||||||
Entergy Arkansas generates, transmits, distributes, and sells electric | ||||||||
power to 722,000 retail customers in Arkansas. | ● 1,852 MW nuclear-owned generating capacity in two units in northern U.S. | |||||||
● Indian Point Energy Center Unit 3 in Buchanan, New York | ||||||||
ENTERGY LOUISIANA, LLC (E-LA) | ● Palisades Nuclear Plant in Covert, Michigan | |||||||
Entergy Louisiana generates, transmits, distributes, and sells electric | ● 394 net owned MW non-nuclear generating capacity | |||||||
power to 1,096,000 retail customers in Louisiana. Entergy | ● 800 MW under management support services contract | |||||||
Louisiana also provides natural gas utility service to 94,000 customers in | ● Cooper Nuclear Station located near Brownville, Nebraska | |||||||
the Baton Rouge, Louisiana area. | ||||||||
James A. FitzPatrick Nuclear Power Plant was sold on March 31, 2017. Vermont | ||||||||
ENTERGY MISSISSIPPI, LLC (E-MS) | Yankee Nuclear Power Station was sold on January 11, 2019. Pilgrim Nuclear Power | |||||||
Entergy Mississippi generates, transmits, distributes, and sells electric | Station was sold on August 26, 2019. Indian Point 2 Nucelar Power Station ceased | |||||||
power to 456,000 retail customers in Mississippi. | operations on April 30, 2020. Entergy plans to close Indian Point 3 on April 30, 2021, | |||||||
and Palisades on May 31, 2022. | ||||||||
ENTERGY NEW ORLEANS, LLC (E-NO) | ||||||||
Entergy New Orleans generates, transmits, distributes, and sells | ||||||||
electric power to 207,000 retail customers in the city of New Orleans, | ||||||||
Louisiana. Entergy New Orleans also provides natural gas utility | ||||||||
service to 108,000 customers in the city of New Orleans. | ||||||||
ENTERGY TEXAS, INC. (E-TX) | ||||||||
Entergy Texas generates, transmits, distributes, and sells electric power | ||||||||
to 473,000 retail customers in Texas. | ||||||||
SYSTEM ENERGY RESOURCES, INC. (SERI) | ||||||||
System Energy owns or leases 90% of the Grand Gulf 1 nuclear | ||||||||
generating facility. System Energy sells its power and capacity from | ||||||||
Grand Gulf 1 at wholesale to Entergy Arkansas (36%), Entergy Louisiana (14%), | ||||||||
Entergy Mississippi (33%) and Entergy New Orleans (17%). | ||||||||
UTILITY NUCLEAR PLANTS | ||||||||
Entergy owns and operates five nuclear units at four plant sites to serve | ||||||||
its regulated utility business: Arkansas Nuclear One (ANO) Units 1 and 2 | ||||||||
near Russellville, Arkansas; Grand Gulf Nuclear Station Unit 1 in Port Gibson, | ||||||||
Mississippi; River Bend Station in St. Francisville, Louisiana and | ||||||||
Waterford Steam Electric Station Unit 3 in Killona, Louisiana. |
SELECTED FINANCIAL AND OPERATING DATA | ||||||||||||||||||||||||||
SELECTED FINANCIAL DATA | ||||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||
GAAP MEASURES | ||||||||||||||||||||||||||
Operating Revenues ($ millions) | 10,114 | 10,879 | 11,009 | |||||||||||||||||||||||
As-Reported Net Income (Loss) Attributable to Entergy Corporation ($ millions) | 1,407 | 1,241 | 849 | |||||||||||||||||||||||
As-Reported Earnings Per Share ($) | 6.90 | 6.30 | 4.63 | |||||||||||||||||||||||
Common Dividend Paid Per Share ($) | 3.74 | 3.66 | 3.58 | |||||||||||||||||||||||
Common Dividend Payout Ratio – As-Reported (%) | 54 | 58 | 77 | |||||||||||||||||||||||
NON-GAAP MEASURES | ||||||||||||||||||||||||||
Adjusted Earnings ($ millions) | 1,138 | 1,064 | 970 | |||||||||||||||||||||||
Adjusted Earnings Per Share ($) | 5.66 | 5.40 | 5.29 | |||||||||||||||||||||||
Adjustments ($ millions) | 250 | 177 | (121) | |||||||||||||||||||||||
Adjustments Per Share ($) | 1.24 | 0.90 | (0.66) | |||||||||||||||||||||||
Common Dividend Payout Ratio – Adjusted (%) | 66 | 68 | 68 | |||||||||||||||||||||||
UTILITY ELECTRIC OPERATING DATA | ||||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||
Retail Kilowatt-Hour Sales (millions) | 124,828 | 129,121 | 117,498 | |||||||||||||||||||||||
Peak Demand (megawatts) | 21,340 | 21,598 | 21,587 | |||||||||||||||||||||||
Retail Customers – Year End (thousands) | 2,954 | 2,923 | 2,901 | |||||||||||||||||||||||
ENTERGY WHOLESALE COMMODITIES OPERATING DATA | ||||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||
Billed Electric Energy Sales (gigawatt hours) | 20,581 | 28,088 | 29,875 | |||||||||||||||||||||||
EMPLOYEES | ||||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||
Total Employees – Year End | 13,400 | 13,635 | 13,688 |
OWNED AND LEASED CAPABILITY (MW)(a) | ||||||||||||||||||||||||||
As of December 31, 2020 | ||||||||||||||||||||||||||
E-AR | E-LA | E-MS | E-NO | E-TX | SERI | EWC(b)(c)(d) | Total | |||||||||||||||||||
Gas/Oil | 2,091 | 8,827 | 2,929 | 638 | 2,005 | — | 213 | 16,703 | ||||||||||||||||||
Coal | 1,194 | 346 | 416 | — | 255 | — | 181 | 2,392 | ||||||||||||||||||
Total Fossil | 3,285 | 9,173 | 3,345 | 638 | 2,260 | — | 394 | 19,095 | ||||||||||||||||||
Nuclear | 1,817 | 2,144 | — | — | — | 1,256 | 1,852 | 7,069 | ||||||||||||||||||
Hydro | 73 | — | — | — | — | — | — | 73 | ||||||||||||||||||
Solar | — | — | 2 | 27 | — | — | — | 29 | ||||||||||||||||||
Total | 5,175 | 11,317 | 3,347 | 665 | 2,260 | 1,256 | 2,246 | 26,266 | ||||||||||||||||||
(a) Owned and Leased 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) Nuclear reflects Net MW in Operation. Net MW in Operation is the installed capacity owned and operated. Excludes management | ||||||||||||||||||||||||||
services contract for Cooper Nuclear Station. | ||||||||||||||||||||||||||
(c) Fossil reflects nameplate rating of generating unit and excludes capacity under contract. | ||||||||||||||||||||||||||
(d) The owned MW capacity for coal is the portion of the plant capacity owned by Entergy Wholesale Commodities. |
CONSOLIDATED ENTERGY CORPORATION AND SUBSIDIARIES DATA | |||||||||||||||||||||||||||||||||||
CONSOLIDATED QUARTERLY FINANCIAL METRICS | |||||||||||||||||||||||||||||||||||
2020 | 2019 | FY | |||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | |||||||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||||||||||||||
ROIC – as-reported (%)(a) | 5.6 | 5.9 | 6.3 | 6.1 | 6.1 | 5.6 | 5.5 | 4.8 | 6.3 | 6.3 | (0.2) | ||||||||||||||||||||||||
ROE – as-reported (%)(a) | 11.5 | 12.2 | 13.3 | 13.1 | 13.1 | 11.4 | 10.8 | 8.6 | 13.0 | 13.0 | 0.1 | ||||||||||||||||||||||||
Cash and cash equivalents ($ millions) | 1,464 | 935 | 1,240 | 1,759 | 1,759 | 983 | 636 | 956 | 426 | 426 | 1,333 | ||||||||||||||||||||||||
Revolver capacity ($ millions) | 3,348 | 4,110 | 4,125 | 4,110 | 4,110 | 3,950 | 4,120 | 4,115 | 3,810 | 3,810 | 300 | ||||||||||||||||||||||||
Commercial paper ($ millions) | 1,942 | 1,946 | 1,398 | 1,627 | 1,627 | 1,942 | 1,635 | 1,918 | 1,947 | 1,947 | (320) | ||||||||||||||||||||||||
Total debt ($ millions) | 21,465 | 21,493 | 22,127 | 24,062 | 24,062 | 19,325 | 19,054 | 19,441 | 19,885 | 19,885 | 4,177 | ||||||||||||||||||||||||
Securitization debt ($ millions) | 271 | 232 | 209 | 175 | 175 | 398 | 360 | 338 | 298 | 298 | (123) | ||||||||||||||||||||||||
Debt to capital (%) | 67.2 | 66.8 | 66.7 | 68.3 | 68.3 | 67.8 | 65.5 | 65.4 | 65.5 | 65.5 | 2.8 | ||||||||||||||||||||||||
Off-balance sheet liabilities ($ millions) | |||||||||||||||||||||||||||||||||||
Debt of joint ventures – Entergy’s share | 53 | 51 | 49 | 17 | 17 | 59 | 58 | 56 | 54 | 54 | (37) | ||||||||||||||||||||||||
Total off-balance sheet liabilities | 53 | 51 | 49 | 17 | 17 | 59 | 58 | 56 | 54 | 54 | (37) | ||||||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||||||||||||||
ROIC – adjusted (%)(a) | 5.6 | 5.6 | 5.4 | 5.3 | 5.3 | 5.5 | 5.5 | 5.6 | 5.6 | 5.6 | (0.3) | ||||||||||||||||||||||||
ROE – adjusted (%)(a) | 11.8 | 11.4 | 10.9 | 10.8 | 10.8 | 11.5 | 11.0 | 11.4 | 11.2 | 11.2 | (0.4) | ||||||||||||||||||||||||
Gross liquidity ($ millions) | 4,811 | 5,045 | 5,364 | 5,869 | 5,869 | 4,933 | 4,756 | 5,071 | 4,236 | 4,236 | 1,633 | ||||||||||||||||||||||||
Net liquidity ($ millions) | 2,870 | 3,099 | 3,966 | 4,241 | 4,241 | 2,991 | 3,121 | 3,153 | 2,289 | 2,289 | 1,952 | ||||||||||||||||||||||||
Net liquidity, including storm escrows ($ millions) | 3,242 | 3,472 | 4,339 | 4,357 | 4,357 | 3,396 | 3,528 | 3,563 | 2,701 | 2,701 | 1,656 | ||||||||||||||||||||||||
Debt to capital, excluding securitization debt (%) | 66.9 | 66.6 | 66.5 | 68.1 | 68.1 | 67.3 | 65.1 | 65.0 | 65.1 | 65.1 | 3.0 | ||||||||||||||||||||||||
Net debt to net capital, excluding securitization debt (%) | 65.3 | 65.6 | 65.2 | 66.4 | 66.4 | 66.1 | 64.3 | 63.8 | 64.6 | 64.6 | 1.8 | ||||||||||||||||||||||||
Parent debt to total debt, excluding securitization debt (%) | 22.2 | 22.0 | 22.4 | 21.6 | 21.6 | 21.7 | 19.4 | 20.5 | 21.6 | 21.6 | — | ||||||||||||||||||||||||
FFO to debt, excluding securitization debt (%) | 14.3 | 14.6 | 11.8 | 10.3 | 10.3 | 11.1 | 11.8 | 14.2 | 14.6 | 14.6 | (4.3) | ||||||||||||||||||||||||
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%) | 16.0 | 16.0 | 12.5 | 10.9 | 10.9 | 15.0 | 15.8 | 17.6 | 16.8 | 16.8 | (5.9) | ||||||||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||||||||||||||
(a) Rolling twelve months. |
CONSOLIDATED ANNUAL FINANCIAL METRICS | |||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||
ROIC – as-reported (%) | 6.1 | 6.3 | 5.3 | ||||||||||||||||||||
ROE – as-reported (%) | 13.1 | 13.0 | 10.1 | ||||||||||||||||||||
Cash and cash equivalents ($ millions) | 1,759 | 426 | 481 | ||||||||||||||||||||
Revolver capacity ($ millions) | 4,110 | 3,810 | 4,056 | ||||||||||||||||||||
Commercial paper ($ millions) | 1,627 | 1,947 | 1,942 | ||||||||||||||||||||
Total debt ($ millions) | 24,062 | 19,885 | 18,133 | ||||||||||||||||||||
Securitization debt ($ millions) | 175 | 298 | 424 | ||||||||||||||||||||
Debt to capital (%) | 68.3 | 65.5 | 66.7 | ||||||||||||||||||||
Off-balance sheet liabilities ($ millions) | |||||||||||||||||||||||
Debt of joint ventures – Entergy’s share | 17 | 54 | 61 | ||||||||||||||||||||
Leases – Entergy’s share | — | — | 448 | ||||||||||||||||||||
Power purchase agreements accounted for as leases(a) | — | — | 106 | ||||||||||||||||||||
Total off-balance sheet liabilities | 17 | 54 | 615 | ||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||
ROIC – adjusted (%) | 5.3 | 5.6 | 5.7 | ||||||||||||||||||||
ROE – adjusted (%) | 10.8 | 11.2 | 11.5 | ||||||||||||||||||||
Gross liquidity ($ millions) | 5,869 | 4,236 | 4,537 | ||||||||||||||||||||
Net liquidity ($ millions) | 4,241 | 2,289 | 2,595 | ||||||||||||||||||||
Net liquidity, including storm escrows ($ millions) | 4,357 | 2,701 | 2,998 | ||||||||||||||||||||
Debt to capital, excluding securitization debt (%) | 68.1 | 65.1 | 66.1 | ||||||||||||||||||||
Net debt to net capital, excluding securitization debt (%) | 66.4 | 64.6 | 65.5 | ||||||||||||||||||||
Parent debt to total debt, excluding securitization debt (%) | 21.6 | 21.6 | 22.6 | ||||||||||||||||||||
FFO to debt, excluding securitization debt (%) | 10.3 | 14.6 | 11.7 | ||||||||||||||||||||
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%) | 10.9 | 16.8 | 15.3 | ||||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||
(a) For further detail, see Note 10 on page 159 of the 2019 SEC Form 10-K. |
FINANCIAL RESULTS | |||||||||||||||||||||||||||||||||||
ENTERGY CORPORATION CONSOLIDATED QUARTERLY RESULTS – GAAP TO NON-GAAP RECONCILIATION | |||||||||||||||||||||||||||||||||||
2020 | 2019 | FY | |||||||||||||||||||||||||||||||||
(After-tax, $ in millions) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
AS-REPORTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 320 | 345 | 552 | 584 | 1,800 | 231 | 331 | 578 | 271 | 1,411 | 389 | ||||||||||||||||||||||||
Parent & Other | (90) | (69) | (61) | (127) | (347) | (73) | (69) | (72) | (103) | (316) | (31) | ||||||||||||||||||||||||
Entergy Wholesale Commodities | (111) | 85 | 30 | (69) | (65) | 97 | (26) | (141) | 217 | 147 | (212) | ||||||||||||||||||||||||
CONSOLIDATED AS-REPORTED EARNINGS (LOSS) | 119 | 361 | 521 | 388 | 1,388 | 255 | 236 | 365 | 385 | 1,241 | 147 | ||||||||||||||||||||||||
LESS ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Utility | — | — | — | 377 | 377 | — | — | — | 41 | 41 | 335 | ||||||||||||||||||||||||
Parent & Other | — | — | — | (61) | (61) | — | — | — | (11) | (11) | (51) | ||||||||||||||||||||||||
Entergy Wholesale Commodities | (111) | 85 | 30 | (69) | (65) | 97 | (26) | (141) | 217 | 147 | (212) | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS | (111) | 85 | 30 | 246 | 250 | 97 | (26) | (141) | 248 | 177 | 73 | ||||||||||||||||||||||||
ADJUSTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 320 | 345 | 552 | 207 | 1,424 | 231 | 331 | 578 | 229 | 1,369 | 54 | ||||||||||||||||||||||||
Parent & Other | (90) | (69) | (61) | (66) | (286) | (73) | (69) | (72) | (92) | (305) | 20 | ||||||||||||||||||||||||
Entergy Wholesale Commodities | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
CONSOLIDATED ADJUSTED EARNINGS (LOSS) | 230 | 276 | 491 | 142 | 1,138 | 158 | 262 | 506 | 137 | 1,064 | 74 | ||||||||||||||||||||||||
Weather Impact | (50) | (4) | 1 | (22) | (75) | (23) | 12 | 13 | 45 | 46 | (120) | ||||||||||||||||||||||||
SHARES OF COMMON STOCK OUTSTANDING | |||||||||||||||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||||||||
End of period | 200 | 200 | 200 | 200 | 200 | 190 | 199 | 199 | 199 | 199 | 1 | ||||||||||||||||||||||||
Weighted average - diluted | 201 | 201 | 201 | 201 | 201 | 192 | 194 | 200 | 201 | 197 | 4 | ||||||||||||||||||||||||
2020 | 2019 | FY | |||||||||||||||||||||||||||||||||
(After-tax, per share in $) (a) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
AS-REPORTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 1.59 | 1.71 | 2.74 | 2.90 | 8.95 | 1.20 | 1.70 | 2.88 | 1.35 | 7.16 | 1.79 | ||||||||||||||||||||||||
Parent & Other | (0.45) | (0.34) | (0.30) | (0.63) | (1.73) | (0.38) | (0.35) | (0.36) | (0.51) | (1.60) | (0.13) | ||||||||||||||||||||||||
Entergy Wholesale Commodities | (0.55) | 0.42 | 0.15 | (0.34) | (0.32) | 0.50 | (0.13) | (0.70) | 1.08 | 0.74 | (1.06) | ||||||||||||||||||||||||
CONSOLIDATED AS-REPORTED EARNINGS (LOSS) | 0.59 | 1.79 | 2.59 | 1.93 | 6.90 | 1.32 | 1.22 | 1.82 | 1.92 | 6.30 | 0.60 | ||||||||||||||||||||||||
LESS ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Utility | — | — | — | 1.87 | 1.87 | — | — | — | 0.21 | 0.21 | 1.66 | ||||||||||||||||||||||||
Parent & Other | — | — | — | (0.31) | (0.31) | — | — | — | (0.05) | (0.05) | (0.26) | ||||||||||||||||||||||||
Entergy Wholesale Commodities | (0.55) | 0.42 | 0.15 | (0.34) | (0.32) | 0.50 | (0.13) | (0.70) | 1.08 | 0.74 | (1.06) | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS | (0.55) | 0.42 | 0.15 | 1.22 | 1.24 | 0.50 | (0.13) | (0.70) | 1.24 | 0.90 | 0.34 | ||||||||||||||||||||||||
ADJUSTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 1.59 | 1.71 | 2.74 | 1.03 | 7.08 | 1.20 | 1.70 | 2.88 | 1.14 | 6.95 | 0.13 | ||||||||||||||||||||||||
Parent & Other | (0.45) | (0.34) | (0.30) | (0.32) | (1.42) | (0.38) | (0.35) | (0.36) | (0.46) | (1.55) | 0.13 | ||||||||||||||||||||||||
Entergy Wholesale Commodities | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
CONSOLIDATED ADJUSTED EARNINGS (LOSS) | 1.14 | 1.37 | 2.44 | 0.71 | 5.66 | 0.82 | 1.35 | 2.52 | 0.68 | 5.40 | 0.26 | ||||||||||||||||||||||||
Weather Impact | (0.25) | (0.02) | 0.01 | (0.11) | (0.37) | (0.12) | 0.06 | 0.06 | 0.22 | 0.23 | (0.60) | ||||||||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||||||||||||||
(a) Per share amounts are calculated by dividing the corresponding earnings (loss) by the diluted average number of common shares outstanding for the period. | |||||||||||||||||||||||||||||||||||
FINANCIAL RESULTS | |||||||||||||||||||||||||||||||||||
ENTERGY CORPORATION CONSOLIDATED QUARTERLY ADJUSTMENTS - BY ITEM TYPE | |||||||||||||||||||||||||||||||||||
Shown as Positive/(Negative) Impact on Earnings | |||||||||||||||||||||||||||||||||||
2020 | 2019 | FY | |||||||||||||||||||||||||||||||||
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
UTILITY ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | — | — | — | (25) | (25) | — | — | — | — | — | (25) | ||||||||||||||||||||||||
Income tax effect on Utility adjustments above (a) | — | — | — | 6 | 6 | — | — | — | — | — | 6 | ||||||||||||||||||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | — | 396 | 396 | — | — | — | — | — | 396 | ||||||||||||||||||||||||
Reversal of income tax valuation allowance | — | — | — | — | — | — | — | — | 41 | 41 | (41) | ||||||||||||||||||||||||
Total | — | — | — | 377 | 377 | — | — | — | 41 | 41 | 335 | ||||||||||||||||||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | — | (61) | (61) | — | — | — | — | — | (61) | ||||||||||||||||||||||||
Income tax item related to valuation allowance for interest deductibility | — | — | — | — | — | — | — | — | (11) | (11) | 11 | ||||||||||||||||||||||||
Total | — | — | — | (61) | (61) | — | — | — | (11) | (11) | (51) | ||||||||||||||||||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Income before income taxes | (141) | 110 | 43 | 30 | 42 | 163 | (35) | (171) | 31 | (12) | 55 | ||||||||||||||||||||||||
Income taxes | 31 | (24) | (12) | (99) | (105) | (66) | 9 | 31 | 187 | 161 | (266) | ||||||||||||||||||||||||
Preferred dividend requirements | (1) | (1) | (1) | (1) | (2) | 1 | (1) | (1) | (1) | (2) | — | ||||||||||||||||||||||||
Total | (111) | 85 | 30 | (69) | (65) | 97 | (26) | (141) | 217 | 147 | (212) | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS | (111) | 85 | 30 | 246 | 250 | 97 | (26) | (141) | 248 | 177 | 73 | ||||||||||||||||||||||||
2020 | 2019 | FY | |||||||||||||||||||||||||||||||||
(After-tax, per share in $) (b) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
UTILITY ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | — | — | — | (0.09) | (0.09) | — | — | — | — | — | (0.09) | ||||||||||||||||||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | — | 1.96 | 1.96 | — | — | — | — | — | 1.96 | ||||||||||||||||||||||||
Reversal of income tax valuation allowance | — | — | — | — | — | — | — | — | 0.21 | 0.21 | (0.21) | ||||||||||||||||||||||||
Total | — | — | — | 1.87 | 1.87 | — | — | — | 0.21 | 0.21 | 1.66 | ||||||||||||||||||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | — | (0.31) | (0.31) | — | — | — | — | — | (0.31) | ||||||||||||||||||||||||
Income tax item related to valuation allowance for interest deductibility | — | — | — | — | — | — | — | — | (0.05) | (0.05) | 0.05 | ||||||||||||||||||||||||
Total | — | — | — | (0.31) | (0.31) | — | — | — | (0.05) | (0.05) | (0.26) | ||||||||||||||||||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT | |||||||||||||||||||||||||||||||||||
Total | (0.55) | 0.42 | 0.15 | (0.34) | (0.32) | 0.50 | (0.13) | (0.70) | 1.08 | 0.74 | (1.06) | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS | (0.55) | 0.42 | 0.15 | 1.22 | 1.24 | 0.50 | (0.13) | (0.70) | 1.24 | 0.90 | 0.34 | ||||||||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||||||||||||||
(a) Income tax effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply. | |||||||||||||||||||||||||||||||||||
(b) EPS effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply to each adjustment and then dividing by | |||||||||||||||||||||||||||||||||||
the diluted average number of common shares outstanding for the period. | |||||||||||||||||||||||||||||||||||
FINANCIAL RESULTS | |||||||||||||||||||||||||||||||||||
ENTERGY CORPORATION CONSOLIDATED QUARTERLY ADJUSTMENTS - BY INCOME STATEMENT LINE ITEM | |||||||||||||||||||||||||||||||||||
Shown as Positive/(Negative) Impact on Earnings | |||||||||||||||||||||||||||||||||||
2020 | 2019 | FY | |||||||||||||||||||||||||||||||||
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
UTILITY ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Other regulatory charges | — | — | — | (25) | (25) | — | — | — | — | — | (25) | ||||||||||||||||||||||||
Income taxes (a) | — | — | — | 402 | 402 | — | — | — | 41 | 41 | 361 | ||||||||||||||||||||||||
Total | — | — | — | 377 | 377 | — | — | — | 41 | 41 | 335 | ||||||||||||||||||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Income taxes (a) | — | — | — | (61) | (61) | — | — | — | (11) | (11) | (51) | ||||||||||||||||||||||||
Total | — | — | — | (61) | (61) | — | — | — | (11) | (11) | (51) | ||||||||||||||||||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Operating revenues | 333 | 200 | 214 | 196 | 943 | 434 | 290 | 300 | 271 | 1,295 | (352) | ||||||||||||||||||||||||
Fuel and fuel-related expenses | (20) | (17) | (14) | (16) | (67) | (25) | (26) | (26) | (22) | (98) | 31 | ||||||||||||||||||||||||
Purchased power | (11) | (10) | (29) | (18) | (68) | (16) | (15) | (18) | (10) | (59) | (9) | ||||||||||||||||||||||||
Nuclear refueling outage expense | (12) | (12) | (11) | (11) | (45) | (12) | (12) | (12) | (12) | (49) | 3 | ||||||||||||||||||||||||
Other O&M | (131) | (140) | (114) | (115) | (500) | (189) | (188) | (136) | (165) | (678) | 178 | ||||||||||||||||||||||||
Asset write-offs and impairments | (5) | (7) | (4) | (10) | (27) | (74) | (16) | (198) | (2) | (290) | 263 | ||||||||||||||||||||||||
Decommissioning expense | (50) | (51) | (51) | (53) | (205) | (63) | (64) | (60) | (49) | (237) | 32 | ||||||||||||||||||||||||
Taxes other than income taxes | (20) | (14) | (10) | (9) | (53) | (13) | (20) | (13) | (15) | (60) | 7 | ||||||||||||||||||||||||
Depreciation/amortization expense | (35) | (25) | (21) | (21) | (102) | (38) | (38) | (38) | (34) | (148) | 46 | ||||||||||||||||||||||||
Other income (deductions) - other | (184) | 194 | 87 | 92 | 189 | 169 | 64 | 34 | 74 | 340 | (152) | ||||||||||||||||||||||||
Interest expense and other charges | (5) | (7) | (5) | (5) | (22) | (9) | (9) | (6) | (5) | (29) | 7 | ||||||||||||||||||||||||
Income taxes | 31 | (24) | (12) | (99) | (105) | (66) | 9 | 31 | 187 | 161 | (266) | ||||||||||||||||||||||||
Preferred dividend requirements | (1) | (1) | (1) | (1) | (2) | (1) | (1) | (1) | (1) | (2) | — | ||||||||||||||||||||||||
Total | (111) | 85 | 30 | (69) | (65) | 97 | (26) | (141) | 217 | 147 | (212) | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS (after-tax) | (111) | 85 | 30 | 246 | 250 | 97 | (26) | (141) | 248 | 177 | 73 | ||||||||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||||||||||||||
(a) Income taxes represents the income tax effect of the adjustments which were calculated using the estimated income tax rate that is expected to apply to each item, as well as tax adjustments as a result of tax reform. |
FINANCIAL RESULTS | |||||||||||
ENTERGY CORPORATION CONSOLIDATED ANNUAL RESULTS – GAAP TO NON-GAAP RECONCILIATION | |||||||||||
(After-tax, $ in millions) | 2020 | 2019 | 2018 | ||||||||
AS-REPORTED EARNINGS (LOSS) | |||||||||||
Utility | 1,800 | 1,411 | 1,483 | ||||||||
Parent & Other | (347) | (316) | (292) | ||||||||
Entergy Wholesale Commodities | (65) | 147 | (343) | ||||||||
CONSOLIDATED AS-REPORTED EARNINGS | 1,388 | 1,241 | 849 | ||||||||
LESS ADJUSTMENTS | |||||||||||
Utility | 377 | 41 | 222 | ||||||||
Parent & Other | (61) | (11) | — | ||||||||
Entergy Wholesale Commodities | (65) | 147 | (343) | ||||||||
TOTAL ADJUSTMENTS | 250 | 177 | (121) | ||||||||
ADJUSTED EARNINGS (LOSS) | |||||||||||
Utility | 1,424 | 1,369 | 1,261 | ||||||||
Parent & Other | (286) | (305) | (292) | ||||||||
Entergy Wholesale Commodities | — | — | — | ||||||||
ENTERGY ADJUSTED EARNINGS | 1,138 | 1,064 | 970 | ||||||||
Weather Impact | (75) | 46 | 67 | ||||||||
SHARES OF COMMON STOCK OUTSTANDING | |||||||||||
($ millions) | |||||||||||
End of period | 200 | 199 | 189 | ||||||||
Weighted average - diluted | 201 | 197 | 183 | ||||||||
(After-tax, per share in $) (a) | 2020 | 2019 | 2018 | ||||||||
AS-REPORTED EARNINGS (LOSS) | |||||||||||
Utility | 8.95 | 7.16 | 8.09 | ||||||||
Parent & Other | (1.73) | (1.60) | (1.59) | ||||||||
Entergy Wholesale Commodities | (0.32) | 0.74 | (1.87) | ||||||||
CONSOLIDATED AS-REPORTED EARNINGS | 6.90 | 6.30 | 4.63 | ||||||||
LESS ADJUSTMENTS | |||||||||||
Utility | 1.87 | 0.21 | 1.21 | ||||||||
Parent & Other | (0.31) | (0.05) | — | ||||||||
Entergy Wholesale Commodities | (0.32) | 0.74 | (1.87) | ||||||||
TOTAL ADJUSTMENTS | 1.24 | 0.90 | (0.66) | ||||||||
ADJUSTED EARNINGS (LOSS) | |||||||||||
Utility | 7.08 | 6.95 | 6.88 | ||||||||
Parent & Other | (1.42) | (1.55) | (1.59) | ||||||||
Entergy Wholesale Commodities | — | — | — | ||||||||
ENTERGY ADJUSTED EARNINGS | 5.66 | 5.40 | 5.29 | ||||||||
Weather Impact | (0.37) | 0.23 | 0.37 | ||||||||
Totals may not foot due to rounding. | |||||||||||
(a) Per share amounts are calculated by dividing the corresponding earnings (loss) by the diluted average number of common shares outstanding for the period. | |||||||||||
FINANCIAL RESULTS | |||||||||||
ENTERGY CORPORATION CONSOLIDATED ANNUAL ADJUSTMENTS - BY ITEM TYPE | |||||||||||
Shown as Positive/(Negative) Impact on Earnings | |||||||||||
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) | 2020 | 2019 | 2018 | ||||||||
UTILITY ADJUSTMENTS | |||||||||||
Customer sharing associated with internal restructuring | — | — | (40) | ||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | (25) | — | — | ||||||||
Income tax effect on Utility adjustments above (a) | 6 | — | 10 | ||||||||
2012 / 2013 IRS audit settlement | — | — | 43 | ||||||||
Internal restructuring | — | — | 170 | ||||||||
Tax reform | — | — | 38 | ||||||||
2014 / 2015 IRS settlement - E-LA business combination | 396 | — | — | ||||||||
Reversal of income tax valuation allowance | — | 41 | — | ||||||||
Total | 377 | 41 | 222 | ||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||
2014 / 2015 IRS settlement - E-LA business combination | (61) | — | — | ||||||||
Income tax item related to a valuation allowance for interest deductibility | — | (11) | — | ||||||||
Total | (61) | (11) | — | ||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT | |||||||||||
Income before income taxes | 42 | (12) | (610) | ||||||||
Income taxes | (105) | 161 | 269 | ||||||||
Preferred dividend requirements | (2) | (2) | (2) | ||||||||
Total | (65) | 147 | (343) | ||||||||
TOTAL ADJUSTMENTS | 250 | 177 | (121) | ||||||||
(After-tax, per share in $) (b) | 2020 | 2019 | 2018 | ||||||||
UTILITY ADJUSTMENTS | |||||||||||
2012 / 2013 IRS audit settlement | — | — | 0.23 | ||||||||
Internal restructuring | — | — | 0.93 | ||||||||
Customer sharing associated with internal restructuring | — | — | (0.16) | ||||||||
Tax reform | — | — | 0.21 | ||||||||
Reversal of income tax valuation allowance | — | 0.21 | — | ||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | (0.09) | — | — | ||||||||
2014 / 2015 IRS settlement - E-LA business combination | 1.96 | — | — | ||||||||
Total | 1.87 | 0.21 | 1.21 | ||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||
Income tax item related to a valuation allowance for interest deductibility | — | (0.05) | — | ||||||||
2014 / 2015 IRS settlement - E-LA business combination | (0.31) | — | — | ||||||||
Total | (0.31) | (0.05) | — | ||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT | |||||||||||
Total | (0.32) | 0.74 | (1.87) | ||||||||
TOTAL ADJUSTMENTS | 1.24 | 0.90 | (0.66) | ||||||||
Totals may not foot due to rounding. | |||||||||||
(a) Income tax effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply. | |||||||||||
(b) EPS effect is calculated by multiplying the pre-tax amount by the estimated income tax rate that is expected to apply to each | |||||||||||
adjustment and then dividing by the diluted average number of common shares outstanding for the period. | |||||||||||
FINANCIAL RESULTS | |||||||||||
ENTERGY CORPORATION CONSOLIDATED ANNUAL ADJUSTMENTS - BY INCOME STATEMENT LINE ITEM | |||||||||||
Shown as Positive/(Negative) Impact on Earnings | |||||||||||
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) | 2020 | 2019 | 2018 | ||||||||
UTILITY ADJUSTMENTS | |||||||||||
Other regulatory charges | (25) | — | (40) | ||||||||
Income taxes (a) | 402 | 41 | 261 | ||||||||
Total | 377 | 41 | 222 | ||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||
Income taxes (a) | (61) | (11) | — | ||||||||
Total | (61) | (11) | — | ||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS | |||||||||||
Operating revenues | 943 | 1,295 | 1,469 | ||||||||
Fuel and fuel-related expenses | (67) | (98) | (77) | ||||||||
Purchased power | (68) | (59) | (115) | ||||||||
Nuclear refueling outage expense | (45) | (49) | (4) | ||||||||
Other O&M | (500) | (678) | (808) | ||||||||
Asset write-offs and impairments | (27) | (290) | (532) | ||||||||
Decommissioning expense | (205) | (237) | (239) | ||||||||
Taxes other than income taxes | (53) | (60) | (78) | ||||||||
Depreciation/amortization expense | (102) | (148) | (150) | ||||||||
Other income (deductions) - other | 189 | 340 | (42) | ||||||||
Interest expense and other charges | (22) | (29) | (34) | ||||||||
Income taxes | (105) | 161 | 269 | ||||||||
Preferred dividend requirements | (2) | (2) | (2) | ||||||||
Total | (65) | 147 | (343) | ||||||||
TOTAL ADJUSTMENTS (after-tax) | 250 | 177 | (121) | ||||||||
Totals may not foot due to rounding. | |||||||||||
(a) Income taxes represents the income tax effect of the adjustments which were calculated using the estimated income tax rate that is expected to apply to each item, as well as tax adjustments as a result of tax reform. | |||||||||||
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FINANCIAL RESULTS | |||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) | |||||||||||
In thousands, except share data, for the years ended December 31, | 2020 | 2019 | 2018 | ||||||||
OPERATING REVENUES: | |||||||||||
Electric | $9,046,643 | $9,429,978 | $9,384,111 | ||||||||
Natural gas | 124,008 | 153,954 | 156,436 | ||||||||
Competitive businesses | 942,985 | 1,294,741 | 1,468,905 | ||||||||
Total | 10,113,636 | 10,878,673 | 11,009,452 | ||||||||
OPERATING EXPENSES: | |||||||||||
Operation and maintenance: | |||||||||||
Fuel, fuel-related expenses, and gas purchased for resale | 1,564,371 | 2,029,638 | 2,147,793 | ||||||||
Purchased power | 904,268 | 1,192,860 | 1,658,799 | ||||||||
Nuclear refueling outage expenses | 184,157 | 204,927 | 153,826 | ||||||||
Other operation and maintenance | 3,002,626 | 3,272,381 | 3,346,397 | ||||||||
Asset write-offs, impairments, and related charges | 26,623 | 290,027 | 532,321 | ||||||||
Decommissioning | 381,861 | 400,802 | 388,508 | ||||||||
Taxes other than income taxes | 652,840 | 643,745 | 641,952 | ||||||||
Depreciation and amortization | 1,613,086 | 1,480,016 | 1,369,442 | ||||||||
Other regulatory charges (credits) – net | 14,609 | (26,220) | 301,049 | ||||||||
Total | 8,344,441 | 9,488,176 | 10,540,087 | ||||||||
OPERATING INCOME | 1,769,195 | 1,390,497 | 469,365 | ||||||||
OTHER INCOME: | |||||||||||
Allowance for equity funds used during construction | 119,430 | 144,974 | 129,602 | ||||||||
Interest and investment income | 392,818 | 547,912 | 63,864 | ||||||||
Miscellaneous – net | (210,633) | (252,539) | (129,754) | ||||||||
Total | 301,615 | 440,347 | 63,712 | ||||||||
INTEREST EXPENSE: | |||||||||||
Interest expense | 837,981 | 807,382 | 768,322 | ||||||||
Allowance for borrowed funds used during construction | (52,318) | (64,957) | (60,974) | ||||||||
Total | 785,663 | 742,425 | 707,348 | ||||||||
INCOME (LOSS) BEFORE INCOME TAXES | 1,285,147 | 1,088,419 | (174,271) | ||||||||
Income taxes | (121,506) | (169,825) | (1,036,826) | ||||||||
CONSOLIDATED NET INCOME | 1,406,653 | 1,258,244 | 862,555 | ||||||||
Preferred dividend requirements of subsidiaries | 18,319 | 17,018 | 13,894 | ||||||||
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION | $1,388,334 | $1,241,226 | $848,661 | ||||||||
Basic earnings per average common share | $6.94 | $6.36 | $4.68 | ||||||||
Diluted earnings per average common share | $6.90 | $6.30 | $4.63 | ||||||||
Basic average number of common shares outstanding | 200,106,945 | 195,195,858 | 181,409,597 | ||||||||
Diluted average number of common shares outstanding | 201,102,220 | 196,999,284 | 183,378,513 | ||||||||
FINANCIAL RESULTS | ||||||||||||||
2020 CONSOLIDATING INCOME STATEMENT (unaudited) | ||||||||||||||
ENTERGY | ||||||||||||||
In thousands, except share data, for the year ended December 31, 2020. | UTILITY | PARENT & OTHER | EWC | CONSOLIDATED | ||||||||||
OPERATING REVENUES: | ||||||||||||||
Electric | $9,046,706 | ($63) | $— | $9,046,643 | ||||||||||
Natural gas | 124,008 | — | — | 124,008 | ||||||||||
Competitive businesses | — | 116 | 942,869 | 942,985 | ||||||||||
Total | 9,170,714 | 53 | 942,869 | 10,113,636 | ||||||||||
OPERATING EXPENSES: | ||||||||||||||
Operation and maintenance: | ||||||||||||||
Fuel, fuel-related expenses, and gas purchased for resale | 1,497,084 | (25) | 67,312 | 1,564,371 | ||||||||||
Purchased power | 836,689 | 25 | 67,554 | 904,268 | ||||||||||
Nuclear refueling outage expenses | 138,779 | — | 45,378 | 184,157 | ||||||||||
Other operation and maintenance | 2,478,020 | 24,905 | 499,701 | 3,002,626 | ||||||||||
Asset write-offs, impairments, and related charges | — | — | 26,623 | 26,623 | ||||||||||
Decommissioning | 176,940 | — | 204,921 | 381,861 | ||||||||||
Taxes other than income taxes | 598,554 | 972 | 53,314 | 652,840 | ||||||||||
Depreciation and amortization | 1,508,198 | 2,835 | 102,053 | 1,613,086 | ||||||||||
Other regulatory charges (credits) - net | 14,609 | — | — | 14,609 | ||||||||||
Total | 7,248,873 | 28,712 | 1,066,856 | 8,344,441 | ||||||||||
OPERATING INCOME (LOSS) | 1,921,841 | (28,659) | (123,987) | 1,769,195 | ||||||||||
OTHER INCOME: | ||||||||||||||
Allowance for equity funds used during construction | 119,430 | — | — | 119,430 | ||||||||||
Interest and investment income | 299,004 | (140,380) | 234,194 | 392,818 | ||||||||||
Miscellaneous – net | (157,381) | (7,651) | (45,601) | (210,633) | ||||||||||
Total | 261,053 | (148,031) | 188,593 | 301,615 | ||||||||||
INTEREST EXPENSE: | ||||||||||||||
Interest expense | 701,169 | 114,380 | 22,432 | 837,981 | ||||||||||
Allowance for borrowed funds used during construction | (52,318) | — | — | (52,318) | ||||||||||
Total | 648,851 | 114,380 | 22,432 | 785,663 | ||||||||||
INCOME (LOSS) BEFORE INCOME TAXES | 1,534,043 | (291,070) | 42,174 | 1,285,147 | ||||||||||
Income taxes | (282,311) | 55,868 | 104,937 | (121,506) | ||||||||||
CONSOLIDATED NET INCOME (LOSS) | 1,816,354 | (346,938) | (62,763) | 1,406,653 | ||||||||||
Preferred dividend requirements of subsidiaries | 16,131 | — | 2,188 | 18,319 | ||||||||||
NET INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION | $1,800,223 | ($346,938) | ($64,951) | $1,388,334 | ||||||||||
Basic earnings (loss) per average common share | $9.00 | $ (1.74) | $ (0.32) | $6.94 | ||||||||||
Diluted earnings (loss) per average common share | $8.95 | $ (1.73) | $ (0.32) | $6.90 | ||||||||||
Totals may not foot due to rounding. | ||||||||||||||
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED BALANCE SHEETS (unaudited) | |||||||||||
In thousands, as of December 31, | 2020 | 2019 | 2018 | ||||||||
ASSETS | |||||||||||
CURRENT ASSETS: | |||||||||||
Cash and cash equivalents: | |||||||||||
Cash | $128,851 | $34,242 | $56,690 | ||||||||
Temporary cash investments | 1,630,248 | 391,480 | 424,285 | ||||||||
Total cash and cash equivalents | 1,759,099 | 425,722 | 480,975 | ||||||||
Accounts receivable: | |||||||||||
Customer | 833,478 | 595,509 | 558,494 | ||||||||
Allowance for doubtful accounts | (117,794) | (7,404) | (7,322) | ||||||||
Other | 135,208 | 219,870 | 167,722 | ||||||||
Accrued unbilled revenues | 434,835 | 400,617 | 395,511 | ||||||||
Total accounts receivable | 1,285,727 | 1,208,592 | 1,114,405 | ||||||||
Deferred fuel costs | 4,380 | — | 27,251 | ||||||||
Fuel inventory – at average cost | 172,934 | 145,476 | 117,304 | ||||||||
Materials and supplies – at average cost | 962,185 | 824,989 | 752,843 | ||||||||
Deferred nuclear refueling outage costs | 179,150 | 157,568 | 230,960 | ||||||||
Prepayments and other | 196,424 | 283,645 | 234,326 | ||||||||
Total | 4,559,899 | 3,045,992 | 2,958,064 | ||||||||
OTHER PROPERTY AND INVESTMENTS: | |||||||||||
Decommissioning trust funds | 7,253,215 | 6,404,030 | 6,920,164 | ||||||||
Non-utility property – at cost (less accumulated depreciation) | 343,328 | 332,864 | 304,382 | ||||||||
Other | 214,222 | 496,452 | 437,265 | ||||||||
Total | 7,810,765 | 7,233,346 | 7,661,811 | ||||||||
PROPERTY, PLANT AND EQUIPMENT: | |||||||||||
Electric | 59,696,443 | 54,271,467 | 49,831,486 | ||||||||
Natural gas | 610,768 | 547,110 | 496,150 | ||||||||
Construction work in progress | 2,012,030 | 2,823,291 | 2,888,639 | ||||||||
Nuclear fuel | 601,281 | 677,181 | 861,272 | ||||||||
Total property, plant and equipment | 62,920,522 | 58,319,049 | 54,077,547 | ||||||||
Less – accumulated depreciation and amortization | 24,067,745 | 23,136,356 | 22,103,101 | ||||||||
Property, plant and equipment – net | 38,852,777 | 35,182,693 | 31,974,446 | ||||||||
DEFERRED DEBITS AND OTHER ASSETS: | |||||||||||
Regulatory assets: | |||||||||||
Other regulatory assets (includes securitization property of | |||||||||||
$119,238 as of December 31, 2020, $239,219 as of | |||||||||||
December 31, 2019 and $360,790 as of December 31, 2018) | 6,076,549 | 5,292,055 | 4,746,496 | ||||||||
Deferred fuel costs | 240,422 | 239,892 | 239,496 | ||||||||
Goodwill | 377,172 | 377,172 | 377,172 | ||||||||
Accumulated deferred income taxes | 76,289 | 64,461 | 54,593 | ||||||||
Other | 245,339 | 288,301 | 262,988 | ||||||||
Total | 7,015,771 | 6,261,881 | 5,680,745 | ||||||||
TOTAL ASSETS | $58,239,212 | $51,723,912 | $48,275,066 | ||||||||
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED BALANCE SHEETS (unaudited) | |||||||||||
In thousands, as of December 31, | 2020 | 2019 | 2018 | ||||||||
LIABILITIES AND EQUITY | |||||||||||
CURRENT LIABILITIES: | |||||||||||
Currently maturing long-term debt | $1,164,015 | $795,012 | $650,009 | ||||||||
Notes payable and commercial paper | 1,627,489 | 1,946,727 | 1,942,339 | ||||||||
Accounts payable | 2,739,437 | 1,499,861 | 1,496,058 | ||||||||
Customer deposits | 401,512 | 409,171 | 411,505 | ||||||||
Taxes accrued | 441,011 | 233,455 | 254,241 | ||||||||
Interest accrued | 201,791 | 194,129 | 193,192 | ||||||||
Deferred fuel costs | 153,113 | 197,687 | 52,396 | ||||||||
Pension and other postretirement liabilities | 61,815 | 66,184 | 61,240 | ||||||||
Current portion of unprotected excess accumulated deferred income taxes | 63,683 | 76,457 | 248,127 | ||||||||
Other | 206,640 | 201,780 | 134,437 | ||||||||
Total | 7,060,506 | 5,620,463 | 5,443,544 | ||||||||
NON-CURRENT LIABILITIES: | |||||||||||
Accumulated deferred income taxes and taxes accrued | 4,361,772 | 4,401,190 | 4,107,152 | ||||||||
Accumulated deferred investment tax credits | 212,494 | 207,113 | 213,101 | ||||||||
Regulatory liability for income taxes - net | 1,521,757 | 1,633,159 | 1,817,021 | ||||||||
Other regulatory liabilities | 2,323,851 | 1,961,005 | 1,620,254 | ||||||||
Decommissioning and asset retirement cost liabilities | 6,469,452 | 6,159,212 | 6,355,543 | ||||||||
Accumulated provisions | 242,835 | 534,028 | 514,107 | ||||||||
Pension and other postretirement liabilities | 2,853,013 | 2,798,265 | 2,616,085 | ||||||||
Long-term debt (includes securitization bonds | |||||||||||
of $174,635 as of December 31, 2020, $297,981 as of | |||||||||||
December 31, 2019 and $423,858 as of December 31, 2018) | 21,205,761 | 17,078,643 | 15,518,303 | ||||||||
Other | 807,219 | 852,749 | 1,006,249 | ||||||||
Total | 39,998,154 | 35,625,364 | 33,767,815 | ||||||||
Commitments and Contingencies | |||||||||||
Subsidiaries' preferred stock without sinking fund | 219,410 | 219,410 | 219,402 | ||||||||
EQUITY: | |||||||||||
Common stock, $.01 par value, authorized 500,000,000 | |||||||||||
shares; issued 270,035,180 shares in 2020 and in 2019; issued | |||||||||||
261,587,009 shares in 2018. | 2,700 | 2,700 | 2,616 | ||||||||
Paid-in capital | 6,549,923 | 6,564,436 | 5,951,431 | ||||||||
Retained earnings | 9,897,182 | 9,257,609 | 8,721,150 | ||||||||
Accumulated other comprehensive income (loss) | (449,207) | (446,920) | (557,173) | ||||||||
Less – treasury stock, at cost (69,790,346 shares in 2020, | |||||||||||
70,886,400 shares in 2019, and 72,530,866 shares in 2018) | 5,074,456 | 5,154,150 | 5,273,719 | ||||||||
Total common shareholders' equity | 10,926,142 | 10,223,675 | 8,844,305 | ||||||||
Subsidiaries' preferred stock without sinking fund | 35,000 | 35,000 | — | ||||||||
Total | 10,961,142 | 10,258,675 | 8,844,305 | ||||||||
TOTAL LIABILITIES AND EQUITY | $58,239,212 | $51,723,912 | $48,275,066 | ||||||||
FINANCIAL RESULTS | ||||||||||||||
2020 CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||
ENTERGY | ||||||||||||||
In thousands, as of December 31, 2020 | UTILITY | PARENT & OTHER | EWC | CONSOLIDATED | ||||||||||
ASSETS | ||||||||||||||
CURRENT ASSETS: | ||||||||||||||
Cash and cash equivalents: | ||||||||||||||
Cash | $85,219 | $42,388 | $1,244 | $128,851 | ||||||||||
Temporary cash investments | 1,440,796 | 13,648 | 175,804 | 1,630,248 | ||||||||||
Total cash and cash equivalents | 1,526,015 | 56,036 | 177,048 | 1,759,099 | ||||||||||
Notes receivable | — | (75,000) | 75,000 | — | ||||||||||
Accounts receivable: | ||||||||||||||
Customer | 781,272 | — | 52,206 | 833,478 | ||||||||||
Allowance for doubtful accounts | (117,794) | — | — | (117,794) | ||||||||||
Associated companies | 16,999 | (19,008) | 2,009 | — | ||||||||||
Other | 109,725 | — | 25,483 | 135,208 | ||||||||||
Accrued unbilled revenues | 434,835 | — | — | 434,835 | ||||||||||
Total accounts receivable | 1,225,037 | (19,008) | 79,698 | 1,285,727 | ||||||||||
Deferred fuel costs | 4,380 | — | — | 4,380 | ||||||||||
Fuel inventory – at average cost | 167,117 | — | 5,817 | 172,934 | ||||||||||
Materials and supplies – at average cost | 930,895 | (2) | 31,292 | 962,185 | ||||||||||
Deferred nuclear refueling outage costs | 115,559 | — | 63,591 | 179,150 | ||||||||||
Prepayments and other | 162,405 | (16,306) | 50,325 | 196,424 | ||||||||||
Total | 4,131,408 | (54,280) | 482,771 | 4,559,899 | ||||||||||
OTHER PROPERTY AND INVESTMENTS: | ||||||||||||||
Investment in affiliates | 1,465,626 | (1,465,712) | 21,993 | 21,907 | ||||||||||
Decommissioning trust funds | 4,283,831 | — | 2,969,384 | 7,253,215 | ||||||||||
Non-utility property – at cost (less accumulated depreciation) | 329,700 | (11) | 13,639 | 343,328 | ||||||||||
Other | 180,971 | 3,002 | 8,342 | 192,315 | ||||||||||
Total | 6,260,128 | (1,462,721) | 3,013,358 | 7,810,765 | ||||||||||
PROPERTY, PLANT AND EQUIPMENT: | ||||||||||||||
Electric | 58,711,665 | 10,705 | 974,073 | 59,696,443 | ||||||||||
Natural gas | 610,768 | — | — | 610,768 | ||||||||||
Construction work in progress | 2,006,905 | 261 | 4,864 | 2,012,030 | ||||||||||
Nuclear fuel | 548,178 | — | 53,103 | 601,281 | ||||||||||
Total property, plant and equipment | 61,877,516 | 10,966 | 1,032,040 | 62,920,522 | ||||||||||
Less – accumulated depreciation and amortization | 23,204,219 | 4,006 | 859,520 | 24,067,745 | ||||||||||
Property, plant and equipment – net | 38,673,297 | 6,960 | 172,520 | 38,852,777 | ||||||||||
DEFERRED DEBITS AND OTHER ASSETS: | ||||||||||||||
Regulatory assets: | ||||||||||||||
Other regulatory assets (includes securitization property of $119,238 | 6,076,549 | — | — | 6,076,549 | ||||||||||
as of December 31, 2020) | ||||||||||||||
Deferred fuel costs | 240,422 | — | — | 240,422 | ||||||||||
Goodwill | 374,099 | — | 3,073 | 377,172 | ||||||||||
Accumulated deferred income taxes | 72,599 | 373 | 3,317 | 76,289 | ||||||||||
Other | 111,651 | 8,349 | 125,339 | 245,339 | ||||||||||
Total | 6,875,320 | 8,722 | 131,729 | 7,015,771 | ||||||||||
TOTAL ASSETS | $55,940,153 | ($1,501,319) | $3,800,378 | $58,239,212 | ||||||||||
Totals may not foot due to rounding. | ||||||||||||||
FINANCIAL RESULTS | ||||||||||||||
2020 CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||
ENTERGY | ||||||||||||||
In thousands, as of December 31, 2020 | UTILITY | PARENT & OTHER | EWC | CONSOLIDATED | ||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||
Currently maturing long-term debt | $1,025,015 | $— | $139,000 | $1,164,015 | ||||||||||
Notes payable and commercial paper: | ||||||||||||||
Other | — | 1,627,489 | — | 1,627,489 | ||||||||||
Accounts payable: | ||||||||||||||
Associated companies | 32,247 | (42,703) | 10,456 | — | ||||||||||
Other | 2,541,702 | 706 | 197,029 | 2,739,437 | ||||||||||
Customer deposits | 401,512 | — | — | 401,512 | ||||||||||
Taxes accrued | 420,510 | (9,028) | 29,529 | 441,011 | ||||||||||
Interest accrued | 177,557 | 23,708 | 526 | 201,791 | ||||||||||
Deferred fuel costs | 153,113 | — | — | 153,113 | ||||||||||
Pension and other postretirement liabilities | 48,757 | — | 13,058 | 61,815 | ||||||||||
Current portion of unprotected excess accumulated deferred | ||||||||||||||
income taxes | 63,683 | — | — | 63,683 | ||||||||||
Other | 182,095 | 1,892 | 22,653 | 206,640 | ||||||||||
Total | 5,046,191 | 1,602,064 | 412,251 | 7,060,506 | ||||||||||
NON-CURRENT LIABILITIES: | ||||||||||||||
Accumulated deferred income taxes and taxes accrued | 5,188,989 | (179,493) | (647,724) | 4,361,772 | ||||||||||
Accumulated deferred investment tax credits | 212,494 | — | — | 212,494 | ||||||||||
Regulatory liability for income taxes - net | 1,521,757 | — | — | 1,521,757 | ||||||||||
Other regulatory liabilities | 2,323,851 | — | — | 2,323,851 | ||||||||||
Decommissioning and retirement cost liabilities | 3,877,971 | — | 2,591,481 | 6,469,452 | ||||||||||
Accumulated provisions | 242,511 | — | 324 | 242,835 | ||||||||||
Pension and other postretirement liabilities | 2,224,025 | — | 628,988 | 2,853,013 | ||||||||||
Long-term debt (includes securitization bonds of $174,635 | ||||||||||||||
as of December 31, 2020) | 17,679,206 | 3,526,555 | — | 21,205,761 | ||||||||||
Other | 1,200,370 | (448,834) | 55,683 | 807,219 | ||||||||||
Total | 34,471,174 | 2,898,228 | 2,628,752 | 39,998,154 | ||||||||||
Subsidiaries' preferred stock without sinking fund | 195,161 | — | 24,249 | 219,410 | ||||||||||
EQUITY: | ||||||||||||||
Common stock, $.01 par value, authorized 500,000,000 shares; | ||||||||||||||
issued 270,035,180 shares in 2020 | 1,973,748 | (2,172,151) | 201,103 | 2,700 | ||||||||||
Paid-in capital | 4,722,954 | 651,574 | 1,175,395 | 6,549,923 | ||||||||||
Retained earnings | 9,705,837 | 473,422 | (282,077) | 9,897,182 | ||||||||||
Accumulated other comprehensive income (loss) | (89,912) | — | (359,295) | (449,207) | ||||||||||
Less – treasury stock, at cost (69,790,346 shares in 2020) | 120,000 | 4,954,456 | — | 5,074,456 | ||||||||||
Total common shareholders' equity | 16,192,627 | (6,001,611) | 735,126 | 10,926,142 | ||||||||||
Subsidiaries' preferred stock without sinking fund | 35,000 | — | — | 35,000 | ||||||||||
Total | 16,227,627 | (6,001,611) | 735,126 | 10,961,142 | ||||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $55,940,153 | ($1,501,319) | $3,800,378 | $58,239,212 | ||||||||||
Totals may not foot due to rounding. | ||||||||||||||
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited) | |||||||||||
In thousands, for the years ended December 31, | 2020 | 2019 | 2018 | ||||||||
OPERATING ACTIVITIES: | |||||||||||
Consolidated net income (loss) | $1,406,653 | $1,258,244 | $862,555 | ||||||||
Adjustments to reconcile consolidated net income (loss) | |||||||||||
to net cash flow provided by operating activities: | |||||||||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 2,257,750 | 2,182,313 | 2,040,555 | ||||||||
Deferred income taxes, investment tax credits, and non-current taxes accrued | (131,114) | 193,950 | (256,848) | ||||||||
Asset write-offs, impairments, and related charges | 26,379 | 226,678 | 491,739 | ||||||||
Changes in working capital: | |||||||||||
Receivables | (139,296) | (101,227) | 98,546 | ||||||||
Fuel inventory | (27,458) | (28,173) | 45,839 | ||||||||
Accounts payable | 137,457 | (71,898) | 97,312 | ||||||||
Taxes accrued | 207,556 | (20,784) | 39,272 | ||||||||
Interest accrued | 7,662 | 937 | 5,220 | ||||||||
Deferred fuel costs | (49,484) | 172,146 | (25,829) | ||||||||
Other working capital accounts | (143,451) | (3,108) | (164,173) | ||||||||
Changes in provisions for estimated losses | (291,193) | 19,914 | 35,706 | ||||||||
Changes in other regulatory assets | (784,494) | (545,559) | 189,193 | ||||||||
Changes in other regulatory liabilities | 238,669 | (14,781) | (803,323) | ||||||||
Changes in pensions and other postretirement liabilities | 50,379 | 187,124 | (304,941) | ||||||||
Other | (76,149) | (639,149) | 34,424 | ||||||||
Net cash flow provided by operating activities | 2,689,866 | 2,816,627 | 2,385,247 | ||||||||
INVESTING ACTIVITIES: | |||||||||||
Construction/capital expenditures | (4,694,076) | (4,197,667) | (3,942,010) | ||||||||
Allowance for equity funds used during construction | 119,430 | 144,862 | 130,195 | ||||||||
Nuclear fuel purchases | (215,664) | (128,366) | (302,584) | ||||||||
Payment for purchase of plant or assets | (247,121) | (305,472) | (26,623) | ||||||||
Proceeds from sale of assets | — | 28,932 | 24,902 | ||||||||
Insurance proceeds received for property damages | — | 7,040 | 18,270 | ||||||||
Changes in securitization account | 5,099 | 3,298 | (5,844) | ||||||||
Payments to storm reserve escrow account | (2,273) | (8,038) | (6,551) | ||||||||
Receipts from storm reserve escrow account | 297,588 | — | — | ||||||||
Decrease (increase) in other investments | (12,755) | 30,319 | (54,500) | ||||||||
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 72,711 | 2,369 | 59,643 | ||||||||
Proceeds from nuclear decommissioning trust fund sales | 3,107,812 | 4,121,351 | 6,484,791 | ||||||||
Investment in nuclear decommissioning trust funds | (3,203,057) | (4,208,870) | (6,485,676) | ||||||||
Net cash flow used in investing activities | (4,772,306) | (4,510,242) | (4,105,987) | ||||||||
FINANCING ACTIVITIES: | |||||||||||
Proceeds from the issuance of: | |||||||||||
Long-term debt | 12,619,201 | 9,304,396 | 8,035,536 | ||||||||
Preferred stock of subsidiary | — | 33,188 | 73,330 | ||||||||
Treasury stock | 42,600 | 93,862 | 103,315 | ||||||||
Common stock | — | 607,650 | 499,272 | ||||||||
Retirement of long-term debt | (8,152,378) | (7,619,380) | (6,965,738) | ||||||||
Repurchase/redemptions of preferred stock | — | (50,000) | (53,868) | ||||||||
Changes in credit borrowings and commercial paper – net | (319,238) | 4,389 | 364,031 | ||||||||
Other | (7,524) | (7,732) | 26,453 | ||||||||
Dividends paid: | |||||||||||
Common stock | (748,342) | (711,573) | (647,704) | ||||||||
Preferred stock | (18,502) | (16,438) | (14,185) | ||||||||
Net cash flow provided by financing activities | 3,415,817 | 1,638,362 | 1,420,442 | ||||||||
Net increase (decrease) in cash and cash equivalents | 1,333,377 | (55,253) | (300,298) | ||||||||
Cash and cash equivalents at beginning of period | 425,722 | 480,975 | 781,273 | ||||||||
Cash and cash equivalents at end of period | $1,759,099 | $425,722 | $480,975 | ||||||||
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited) | |||||||||||
$ thousands, for the years ended December 31, | 2020 | 2019 | 2018 | ||||||||
SUPPLEMENTAL DISCLOSURE OF | |||||||||||
CASH FLOW INFORMATION: | |||||||||||
Cash paid (received) during the period for: | |||||||||||
Interest – net of amount capitalized | 803,923 | 778,209 | 734,845 | ||||||||
Income taxes | (31,228) | (40,435) | 19,825 |
CASH FLOW INFORMATION BY BUSINESS | |||||||||||||||||
PARENT & | ENTERGY | ||||||||||||||||
For the years ended December 31, 2020, 2019, and 2018. | UTILITY | OTHER | EWC | CONSOLIDATED | |||||||||||||
($ thousands) | |||||||||||||||||
2020 | |||||||||||||||||
Net cash flow provided by (used in) operating activities | 2,275,828 | 296,458 | 117,580 | 2,689,866 | |||||||||||||
Net cash flow provided by (used in) investing activities | (4,668,622) | (3,086) | (100,598) | (4,772,306) | |||||||||||||
Net cash flow provided by (used in) financing activities | 3,717,186 | (252,386) | (48,983) | 3,415,817 | |||||||||||||
2019 | |||||||||||||||||
Net cash flow provided by (used in) operating activities | 2,973,872 | (237,649) | 80,404 | 2,816,627 | |||||||||||||
Net cash flow provided by (used in) investing activities | (4,425,828) | (159) | (84,255) | (4,510,242) | |||||||||||||
Net cash flow provided by (used in) financing activities | 1,393,628 | 244,969 | (235) | 1,638,362 | |||||||||||||
2018 | |||||||||||||||||
Net cash flow provided by (used in) operating activities | 2,693,429 | (234,491) | (73,690) | 2,385,247 | |||||||||||||
Net cash flow provided by (used in) investing activities | (3,893,022) | (98) | (212,868) | (4,105,987) | |||||||||||||
Net cash flow provided by (used in) financing activities | 915,116 | 237,843 | 267,483 | 1,420,442 | |||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||
FINANCIAL RESULTS | |||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) | |||||||||||||||||||||||
Common Shareholders’ Equity | |||||||||||||||||||||||
($ thousands) | Subsidiaries’ Preferred Stock | Common Stock | Treasury Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | ||||||||||||||||
Balance at December 31, 2017 | — | 2,548 | (5,397,637) | 5,433,433 | 7,977,702 | (23,531) | 7,992,515 | ||||||||||||||||
Implementation of accounting standards | — | — | — | — | 576,257 | (632,617) | (56,360) | ||||||||||||||||
Balance at January 1, 2018 | — | 2,548 | (5,397,637) | 5,433,433 | 8,553,959 | (656,148) | 7,936,155 | ||||||||||||||||
Consolidated net income (loss) (a) | 13,894 | — | — | — | 848,661 | — | 862,555 | ||||||||||||||||
Other comprehensive loss | — | — | — | — | — | 83,470 | 83,470 | ||||||||||||||||
Settlement of equity forwards through common | |||||||||||||||||||||||
stock issuance | — | 68 | — | 499,932 | — | — | 500,000 | ||||||||||||||||
Common stock issuance costs | — | — | — | (728) | — | — | (728) | ||||||||||||||||
Common stock issuances related to stock plans | — | — | 123,918 | 18,794 | — | — | 142,712 | ||||||||||||||||
Common stock dividends declared | — | — | — | — | (647,704) | — | (647,704) | ||||||||||||||||
Subsidiaries' capital stock redemptions | — | — | — | — | (1,723) | — | (1,723) | ||||||||||||||||
Preferred dividend requirements of subsidiaries (a) | (13,894) | — | — | — | — | — | (13,894) | ||||||||||||||||
Reclassification pursuant to ASU 2018-02 | — | — | — | — | (32,043) | 15,505 | (16,538) | ||||||||||||||||
Balance at December 31, 2018 | — | 2,616 | (5,273,719) | 5,951,431 | 8,721,150 | (557,173) | 8,844,305 | ||||||||||||||||
Implementation of accounting standards | — | — | — | — | 6,806 | (6,806) | — | ||||||||||||||||
Balance at January 1, 2019 | — | 2,616 | (5,273,719) | 5,951,431 | 8,727,956 | (563,979) | 8,844,305 | ||||||||||||||||
Consolidated net income (loss) (a) | 17,018 | — | — | — | 1,241,226 | — | 1,258,244 | ||||||||||||||||
Other comprehensive loss | — | — | — | — | — | 117,059 | 117,059 | ||||||||||||||||
Settlement of equity forwards through common stock | |||||||||||||||||||||||
issuance | — | 84 | — | 607,566 | — | — | 607,650 | ||||||||||||||||
Common stock issuance costs | — | — | — | (7) | — | — | (7) | ||||||||||||||||
Common stock issuances related to stock plans | — | — | 119,569 | 5,446 | — | — | 125,015 | ||||||||||||||||
Common stock dividends declared | — | — | — | — | (711,573) | — | (711,573) | ||||||||||||||||
Subsidiaries' capital stock redemptions | 35,000 | — | — | — | — | — | 35,000 | ||||||||||||||||
Preferred dividend requirements of subsidiaries (a) | (17,018) | — | — | — | — | — | (17,018) | ||||||||||||||||
Balance at December 31, 2019 | 35,000 | 2,700 | (5,154,150) | 6,564,436 | 9,257,609 | (446,920) | 10,258,675 | ||||||||||||||||
Implementation of accounting standards | — | — | — | — | (419) | — | (419) | ||||||||||||||||
Balance at January 1, 2020 | 35,000 | 2,700 | (5,154,150) | 6,564,436 | 9,257,190 | (446,920) | 10,258,256 | ||||||||||||||||
Consolidated net income (loss) (a) | 18,319 | — | — | — | 1,388,334 | — | 1,406,653 | ||||||||||||||||
Other comprehensive income | — | — | — | — | — | (2,287) | (2,287) | ||||||||||||||||
Common stock issuances related to stock plans | — | — | 79,694 | (14,513) | — | — | 65,181 | ||||||||||||||||
Common stock dividends declared | — | — | — | — | (748,342) | — | (748,342) | ||||||||||||||||
Preferred dividend requirements of subsidiaries (a) | (18,319) | — | — | — | — | — | (18,319) | ||||||||||||||||
Balance at December 31, 2020 | 35,000 | 2,700 | (5,074,456) | 6,549,923 | 9,897,182 | (449,207) | 10,961,142 | ||||||||||||||||
(a) Consolidated net income and preferred dividend requirements of subsidiaries include $16.5 million for 2020, $16.5 million for 2019, and $13.9 million for 2018 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. | |||||||||||||||||||||||
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) | |||||||||||
In thousands, for the years ended December 31, | 2020 | 2019 | 2018 | ||||||||
NET INCOME (LOSS) | $ 1,406,653 | $ 1,258,244 | $ 862,555 | ||||||||
Other comprehensive income (loss) | |||||||||||
Cash flow hedges net unrealized gain (loss) | |||||||||||
(net of tax expense (benefit) of ($14,776), $28,516 and $5,830 for 2020 to 2018, respectively) | (55,487) | 115,026 | 22,098 | ||||||||
Pension and other postretirement liabilities | |||||||||||
(net of tax expense (benefit) of $5,600, ($6,539) and $30,299 for 2020 to 2018, respectively) | 22,496 | (25,150) | 90,143 | ||||||||
Net unrealized investment gains (losses) | |||||||||||
(net of tax expense (benefit) of $17,586, $14,023 and $6,393 for 2020 to 2018, respectively) | 30,704 | 27,183 | (28,771) | ||||||||
Other comprehensive income (loss) | (2,287) | 117,059 | 83,470 | ||||||||
COMPREHENSIVE INCOME (LOSS) | 1,404,366 | 1,375,303 | 946,025 | ||||||||
Preferred dividend requirements of subsidiaries | 18,319 | 17,018 | 13,894 | ||||||||
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION | $ 1,386,047 | $ 1,358,285 | $ 932,131 | ||||||||
CONSOLIDATED CAPITAL EXPENDITURES | |||||||||||||||||
HISTORICAL CAPITAL EXPENDITURES | |||||||||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||||||||
Utility | |||||||||||||||||
Generation | 1,218 | 1,781 | 1,599 | ||||||||||||||
Transmission | 978 | 1,030 | 895 | ||||||||||||||
Distribution | 1,949 | 1,114 | 862 | ||||||||||||||
Other | 522 | 504 | 434 | ||||||||||||||
Entergy Wholesale Commodities | 26 | 74 | 178 | ||||||||||||||
Total Historical Capital Expenditures | 4,694 | 4,503 | 3,968 |
ENTERGY CORPORATION SECURITIES DETAIL | |||||||||||||||||||||||
ENTERGY CORPORATION LONG-TERM DEBT | CURRENT OR | AS OF | |||||||||||||||||||||
MATURITY | FIRST CALL | FIRST CALL | DECEMBER 31, | ||||||||||||||||||||
CUSIP | RATE | DATE | DATE | PRICE | 2020 | 2019 | |||||||||||||||||
$3.5B Bank Credit Facility | 3.60 | % | 09/24 (b) | $ 165 | $ 440 | ||||||||||||||||||
Commercial Paper (a) | 2.50 | % | 1,627 | 1,947 | |||||||||||||||||||
29364GAF0 | 5.125% Notes | 5.13 | % | 09/20 | Now | MW (T+.40%) | 450 | ||||||||||||||||
29364GAH6 | 4.00% Notes | 4.00 | % | 07/22 | Now | MW (T+.30%) | 650 | 650 | |||||||||||||||
29364GAJ2 | 2.95% Notes | 2.95 | % | 09/26 | Now | MW (T+.25%) | 750 | 750 | |||||||||||||||
29364GAK9 | 3.75% Notes | 3.75 | % | 06/50 | Now | MW (T+.40%) | 600 | ||||||||||||||||
29364GAL7 | 2.80% Notes | 2.80 | % | 06/30 | Now | MW (T+.35%) | 600 | ||||||||||||||||
29364GAM5 | 0.90% Notes | 0.90 | % | 09/25 | Now | MW (T+.125%) | 800 | ||||||||||||||||
Total | $ 5,192 | $ 4,237 | |||||||||||||||||||||
(a) Entergy Corporation has a commercial paper program with a program limit of up to $2.0 billion. | |||||||||||||||||||||||
(b) The maturity date was extended in September 2019. |
SECURITIES RATINGS (OUTLOOK) | ||||||||||||||||||||
ISSUER RATING | CORPORATE CREDIT | |||||||||||||||||||
As of 12/31/20 | MOODY’S | S&P | ||||||||||||||||||
Entergy Corporation | Baa2 (stable) | BBB+ (stable) |
CALL PRICE | ||||||||||||||||||||||||||
AS OF | PER SHARE | |||||||||||||||||||||||||
PREFERRED MEMBER INTERESTS | DECEMBER 31, | AS OF DECEMBER 31, | ||||||||||||||||||||||||
CUSIP | DESCRIPTION | RATE | 2020 | 2019 | 2020 | |||||||||||||||||||||
Held by Entergy Louisiana: | ||||||||||||||||||||||||||
None | Class A preferred non-voting membership interest units of Entergy Holdings Co. LLC | 10.00 | % | $ 684 | $ 684 | — | ||||||||||||||||||||
(6,843,780 units in 2020 and 2019)(a) | ||||||||||||||||||||||||||
None | Class B preferred non-voting membership interest units of Entergy Holdings Co. LLC | 9.00 | % | 413 | 413 | — | ||||||||||||||||||||
(4,126,940 units in 2020 and 2019)(a) | ||||||||||||||||||||||||||
None | Class C preferred non-voting membership interest units of Entergy Holdings Co. LLC | 7.50 | % | 294 | 294 | — | ||||||||||||||||||||
(2,935,153 units in 2020 and 2019)(a) | ||||||||||||||||||||||||||
Held by Entergy Corporation: | ||||||||||||||||||||||||||
None | Class D preferred non-voting membership interest units of Entergy Holdings Co. LLC | 5.00 | % | 734 | 734 | — | ||||||||||||||||||||
(7,340,750 units in 2020 and 2019)(a) | ||||||||||||||||||||||||||
Held by Entergy Utility Holding Company, LLC: | ||||||||||||||||||||||||||
None | Class D preferred non-voting membership interest units of Entergy Holdings Co. LLC | 5.00 | % | 256 | 256 | — | ||||||||||||||||||||
(2,559,250 units in 2020 and 2019)(a) | ||||||||||||||||||||||||||
Total | $ 2,381 | $ 2,381 | — | |||||||||||||||||||||||
(a) Distributions are payable quarterly and have a liquidation price of $100 per unit. The preferred membership interests are callable at the option of Entergy Holdings Company LLC after ten years under the terms of the LLC agreement. | ||||||||||||||||||||||||||
Totals may not foot due to rounding. |
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UTILITY SELECTED DATA | |||||||||||||||||||||||||||||||||||
UTILITY QUARTERLY FINANCIAL METRICS | |||||||||||||||||||||||||||||||||||
2020 | 2019 | FY % | |||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | |||||||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||||||||||||||
As-reported earnings ($ millions) | 320 | 345 | 552 | 584 | 1,800 | 231 | 331 | 578 | 271 | 1,411 | 27.6 | ||||||||||||||||||||||||
ROIC – as-reported (%)(a) | 6.6 | 6.7 | 6.4 | 7.1 | 7.1 | 7.2 | 7.0 | 7.1 | 6.6 | 6.6 | 7.6 | ||||||||||||||||||||||||
ROE – as-reported (%)(a) | 11.1 | 11.0 | 10.4 | 12.0 | 12.0 | 12.6 | 11.8 | 11.9 | 10.7 | 10.7 | 12.1 | ||||||||||||||||||||||||
Debt to capital Ratio (%) | 53.2 | 52.9 | 52.6 | 53.3 | 53.3 | 53.9 | 54.0 | 53.0 | 52.4 | 52.4 | 1.7 | ||||||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||||||||||||||
Adjusted earnings ($ millions) | 320 | 345 | 552 | 206 | 1,423 | 231 | 331 | 578 | 229 | 1,369 | 3.9 | ||||||||||||||||||||||||
ROIC – adjusted (%)(a) | 6.5 | 6.5 | 6.3 | 5.9 | 5.9 | 6.4 | 6.4 | 6.5 | 6.5 | 6.5 | (9.2) | ||||||||||||||||||||||||
ROE – adjusted (%)(a) | 10.8 | 10.7 | 10.1 | 9.5 | 9.5 | 10.7 | 10.4 | 10.5 | 10.4 | 10.4 | (8.7) | ||||||||||||||||||||||||
Debt to capital ratio, excluding securitization debt (%) | 52.8 | 52.6 | 52.3 | 53.1 | 53.1 | 53.2 | 53.4 | 52.4 | 51.9 | 51.9 | 2.3 | ||||||||||||||||||||||||
Net debt to net capital ratio, excluding securitization debt (%) | 51.2 | 51.5 | 50.9 | 51.0 | 51.0 | 52.0 | 52.8 | 51.3 | 51.6 | 51.6 | (1.2) | ||||||||||||||||||||||||
(a) Rolling twelve months. Totals may not foot due to rounding. |
UTILITY ANNUAL FINANCIAL METRICS | ||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||
GAAP MEASURES | ||||||||||||||||||||
As-reported earnings ($ millions) | 1,800 | 1,411 | 1,483 | |||||||||||||||||
ROIC – as-reported (%)(a) | 7.1 | 6.6 | 7.5 | |||||||||||||||||
ROE – as-reported (%)(a) | 12.0 | 10.7 | 12.6 | |||||||||||||||||
Debt to capital ratio (%) | 53.3 | 52.4 | 52.3 | |||||||||||||||||
NON-GAAP MEASURES | ||||||||||||||||||||
Adjusted earnings ($ millions) | 1,423 | 1,369 | 1,262 | |||||||||||||||||
ROIC – adjusted (%)(a) | 5.9 | 6.5 | 6.6 | |||||||||||||||||
ROE – adjusted (%)(a) | 9.5 | 10.4 | 10.7 | |||||||||||||||||
Debt to capital ratio, excluding securitization debt (%) | 53.1 | 51.9 | 51.6 | |||||||||||||||||
Net debt to net capital ratio, excluding securitization debt (%) | 51.0 | 51.6 | 51.1 | |||||||||||||||||
(a) Rolling twelve months. Totals may not foot due to rounding. |
UTILITY SECURITIES RATINGS (OUTLOOK) | |||||||||||||||||
MORTGAGE BONDS | |||||||||||||||||
As of 5/14/21 | MOODY’S | S&P | |||||||||||||||
Entergy Arkansas, LLC | A2 (stable) | A (stable) | |||||||||||||||
Entergy Louisiana, LLC | A2 (stable) | A (stable) | |||||||||||||||
Entergy Mississippi, LLC | A2 (stable) | A (stable) | |||||||||||||||
Entergy New Orleans, LLC | Baa2 (stable) | A (stable) | |||||||||||||||
Entergy Texas, Inc. | Baa1 (positive) | A (stable) | |||||||||||||||
System Energy Resources, Inc. | Baa1 (stable) | A (stable) | |||||||||||||||
UTILITY HISTORICAL CAPITAL EXPENDITURES(a) | ||||||||||||||||||||
($ millions) | 2020 | 2019 | 2018 | |||||||||||||||||
Entergy Arkansas | 776 | 642 | 660 | |||||||||||||||||
Entergy Louisiana | 1,961 | 1,673 | 1,832 | |||||||||||||||||
Entergy Mississippi | 555 | 738 | 387 | |||||||||||||||||
Entergy New Orleans | 229 | 230 | 202 | |||||||||||||||||
Entergy Texas | 896 | 898 | 452 | |||||||||||||||||
System Energy Resources | 194 | 167 | 195 | |||||||||||||||||
Other(b) | 57 | 82 | 62 | |||||||||||||||||
Total | 4,668 | 4,430 | 3,790 | |||||||||||||||||
(a) Historical capital expenditures include storm capital spending. | ||||||||||||||||||||
(b) Corresponds to Entergy Services, LLC, Entergy Operations, Inc., and Varibus, L.L.C. |
UTILITY FINANCIAL RESULTS | ||||||||||||||||||||||||||
2020 UTILITY CONSOLIDATING INCOME STATEMENT (unaudited) | ||||||||||||||||||||||||||
OTHER/ | ||||||||||||||||||||||||||
In thousands, for the year ending December 31, 2020. | E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS(a) | UTILITY | ||||||||||||||||||
OPERATING REVENUES: | ||||||||||||||||||||||||||
Electric | $2,084,494 | $4,019,063 | $1,247,854 | $560,632 | $1,587,125 | $495,458 | ($947,920) | $9,046,706 | ||||||||||||||||||
Natural gas | — | 50,799 | — | 73,209 | — | — | — | 124,008 | ||||||||||||||||||
Total | 2,084,494 | 4,069,862 | 1,247,854 | 633,841 | 1,587,125 | 495,458 | (947,920) | 9,170,714 | ||||||||||||||||||
OPERATING EXPENSES: | �� | |||||||||||||||||||||||||
Operation and maintenance: | ||||||||||||||||||||||||||
Fuel, fuel-related expenses, and gas purchased for resale | 271,896 | 700,152 | 187,087 | 76,781 | 238,428 | 23,026 | (286) | 1,497,084 | ||||||||||||||||||
Purchased power | 187,690 | 596,480 | 240,471 | 243,572 | 510,633 | — | (942,157) | 836,689 | ||||||||||||||||||
Nuclear refueling outage expenses | 55,737 | 55,305 | — | — | — | 27,737 | — | 138,779 | ||||||||||||||||||
Other operation and maintenance | 669,518 | 969,630 | 288,543 | 125,756 | 250,170 | 178,249 | (3,846) | 2,478,020 | ||||||||||||||||||
Decommissioning | 73,319 | 65,225 | — | — | — | 37,181 | 1,215 | 176,940 | ||||||||||||||||||
Taxes other than income taxes | 121,057 | 208,902 | 101,525 | 57,454 | 72,909 | 28,657 | 8,050 | 598,554 | ||||||||||||||||||
Depreciation and amortization | 338,029 | 609,931 | 209,252 | 64,012 | 177,738 | 110,395 | (1,159) | 1,508,198 | ||||||||||||||||||
Other regulatory charges (credits) – net | (35,310) | (584) | (15,219) | 1,854 | 90,398 | (26,531) | 1 | 14,609 | ||||||||||||||||||
Total | 1,681,936 | 3,205,041 | 1,011,659 | 569,429 | 1,340,276 | 378,714 | (938,182) | 7,248,873 | ||||||||||||||||||
OPERATING INCOME | 402,558 | 864,821 | 236,195 | 64,412 | 246,849 | 116,744 | (9,738) | 1,921,841 | ||||||||||||||||||
OTHER INCOME (DEDUCTIONS): | ||||||||||||||||||||||||||
Allowance for equity funds used during construction | 15,019 | 38,151 | 6,726 | 6,339 | 44,073 | 9,122 | — | 119,430 | ||||||||||||||||||
Interest and investment income | 35,579 | 225,627 | 272 | 120 | 1,201 | 36,478 | (273) | 299,004 | ||||||||||||||||||
Miscellaneous – net | (21,908) | (116,366) | (9,253) | 316 | (28) | (10,012) | (130) | (157,381) | ||||||||||||||||||
Total | 28,690 | 147,412 | (2,255) | 6,775 | 45,246 | 35,588 | (403) | 261,053 | ||||||||||||||||||
INTEREST EXPENSE: | ||||||||||||||||||||||||||
Interest expense | 144,834 | 331,352 | 68,945 | 29,105 | 92,920 | 34,467 | (454) | 701,169 | ||||||||||||||||||
Allowance for borrowed funds used during construction | (6,595) | (19,147) | (2,778) | (3,049) | (18,940) | (1,809) | — | (52,318) | ||||||||||||||||||
Total | 138,239 | 312,205 | 66,167 | 26,056 | 73,980 | 32,658 | (454) | 648,851 | ||||||||||||||||||
INCOME (LOSS) BEFORE INCOME TAXES | 293,009 | 700,028 | 167,773 | 45,131 | 218,115 | 119,674 | (9,687) | 1,534,043 | ||||||||||||||||||
Income taxes | 47,777 | (382,324) | 27,190 | (4,207) | 3,042 | 20,543 | 5,668 | (282,311) | ||||||||||||||||||
NET INCOME | 245,232 | 1,082,352 | 140,583 | 49,338 | 215,073 | 99,131 | (15,355) | 1,816,354 | ||||||||||||||||||
Preferred dividend requirements and other | — | — | — | — | 1,882 | — | 14,249 | 16,131 | ||||||||||||||||||
EARNINGS APPLICABLE TO | ||||||||||||||||||||||||||
COMMON STOCK / EQUITY | $245,232 | $1,082,352 | $140,583 | $49,338 | $213,191 | $99,131 | ($29,604) | $1,800,223 | ||||||||||||||||||
Totals may not foot due to rounding. | ||||||||||||||||||||||||||
(a) Primarily reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc. and the elimination of intercompany transactions. |
UTILITY FINANCIAL RESULTS | ||||||||||||||||||||||||||
2020 UTILITY CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||||||||||||||
OTHER/ | ||||||||||||||||||||||||||
In thousands, as of December 31, 2020. | E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS(a) | UTILITY | ||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||
CURRENT ASSETS: | ||||||||||||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||||||||
Cash | $24,108 | $1,303 | $11 | $26 | $26 | $26,086 | $33,659 | $85,219 | ||||||||||||||||||
Temporary cash investments | 168,020 | 726,717 | 7 | — | 248,570 | 216,383 | 81,099 | 1,440,796 | ||||||||||||||||||
Total cash and cash equivalents | 192,128 | 728,020 | 18 | 26 | 248,596 | 242,469 | 114,758 | 1,526,015 | ||||||||||||||||||
Securitization recovery trust account | — | — | — | 3,364 | 36,233 | — | (39,597) | — | ||||||||||||||||||
Accounts receivable: | ||||||||||||||||||||||||||
Customer | 183,719 | 317,905 | 105,732 | 70,694 | 103,221 | — | 1 | 781,272 | ||||||||||||||||||
Allowance for doubtful accounts | (18,334) | (45,693) | (19,527) | (17,430) | (16,810) | — | — | (117,794) | ||||||||||||||||||
Associated companies | 34,216 | 81,624 | 2,740 | 2,381 | 18,892 | 57,743 | (180,597) | 16,999 | ||||||||||||||||||
Other | 35,845 | 41,760 | 11,821 | 4,248 | 11,780 | 2,550 | 1,721 | 109,725 | ||||||||||||||||||
Accrued unbilled revenues | 109,000 | 178,840 | 59,514 | 31,069 | 56,411 | — | 1 | 434,835 | ||||||||||||||||||
Total accounts receivable | 344,446 | 574,436 | 160,280 | 90,962 | 173,494 | 60,293 | (178,874) | 1,225,037 | ||||||||||||||||||
Deferred fuel costs | — | 2,250 | — | 2,130 | — | — | — | 4,380 | ||||||||||||||||||
Fuel inventory – at average cost | 43,811 | 50,680 | 17,117 | 1,978 | 53,531 | — | — | 167,117 | ||||||||||||||||||
Materials and supplies – at average cost | 237,640 | 437,933 | 59,542 | 16,550 | 56,227 | 123,006 | (3) | 930,895 | ||||||||||||||||||
Deferred nuclear refueling outage costs | 32,692 | 48,407 | — | — | — | 34,459 | 1 | 115,559 | ||||||||||||||||||
Prepayments and other | 13,296 | 36,813 | 4,876 | 3,715 | 20,165 | 6,864 | 76,676 | 162,405 | ||||||||||||||||||
Total | 864,013 | 1,878,539 | 241,833 | 118,725 | 588,246 | 467,091 | (27,039) | 4,131,408 | ||||||||||||||||||
OTHER PROPERTY AND INVESTMENTS: | ||||||||||||||||||||||||||
Investment in affiliates – at equity | — | 1,390,587 | — | — | 349 | — | 74,690 | 1,465,626 | ||||||||||||||||||
Decommissioning trust funds | 1,273,921 | 1,794,042 | — | — | — | 1,215,868 | — | 4,283,831 | ||||||||||||||||||
Non-utility property – at cost (less accumulated depreciation) | — | 323,110 | 4,543 | 1,016 | 376 | — | 655 | 329,700 | ||||||||||||||||||
Storm reserve escrow account | — | — | — | 83,038 | — | — | (83,038) | — | ||||||||||||||||||
Escrow accounts | — | — | 64,635 | — | — | — | (64,635) | — | ||||||||||||||||||
Other | 341 | 13,399 | — | — | 19,889 | — | 147,342 | 180,971 | ||||||||||||||||||
Total | 1,274,262 | 3,521,138 | 69,178 | 84,054 | 20,614 | 1,215,868 | 75,014 | 6,260,128 | ||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric | 12,905,322 | 25,619,789 | 6,084,730 | 1,821,638 | 6,007,687 | 5,309,458 | 963,041 | 58,711,665 | ||||||||||||||||||
Natural gas | — | 262,744 | — | 348,024 | — | — | — | 610,768 | ||||||||||||||||||
Construction work in progress | 234,213 | 667,281 | 134,854 | 12,460 | 879,908 | 59,831 | 18,358 | 2,006,905 | ||||||||||||||||||
Nuclear fuel | 163,044 | 210,128 | — | — | — | 175,005 | 1 | 548,178 | ||||||||||||||||||
Total utility plant | 13,302,579 | 26,759,942 | 6,219,584 | 2,182,122 | 6,887,595 | 5,544,294 | 981,400 | 61,877,516 | ||||||||||||||||||
Less – accumulated depreciation and amortization | 5,255,355 | 9,372,224 | 2,005,087 | 740,796 | 1,864,494 | 3,355,367 | 610,896 | 23,204,219 | ||||||||||||||||||
Utility plant – net | 8,047,224 | 17,387,718 | 4,214,497 | 1,441,326 | 5,023,101 | 2,188,927 | 370,504 | 38,673,297 | ||||||||||||||||||
DEFERRED DEBITS AND OTHER ASSETS: | ||||||||||||||||||||||||||
Regulatory assets: | ||||||||||||||||||||||||||
Other regulatory assets (includes securitization property | ||||||||||||||||||||||||||
of $119,237 as of December 31, 2020) | 1,832,384 | 1,726,066 | 467,341 | 266,790 | 524,713 | 538,963 | 720,292 | 6,076,549 | ||||||||||||||||||
Deferred fuel costs | 68,220 | 168,122 | — | 4,080 | — | — | — | 240,422 | ||||||||||||||||||
Goodwill | — | — | — | — | — | — | 374,099 | 374,099 | ||||||||||||||||||
Accumulated deferred income taxes | — | — | — | — | — | — | 72,599 | 72,599 | ||||||||||||||||||
Other | 14,028 | 23,924 | 14,413 | 23,931 | 70,397 | 3,119 | (38,161) | 111,651 | ||||||||||||||||||
Total | 1,914,632 | 1,918,112 | 481,754 | 294,801 | 595,110 | 542,082 | 1,128,829 | 6,875,320 | ||||||||||||||||||
TOTAL ASSETS | $12,100,131 | $24,705,507 | $5,007,262 | $1,938,906 | $6,227,071 | $4,413,968 | $1,547,308 | $55,940,153 | ||||||||||||||||||
Totals may not foot due to rounding. | ||||||||||||||||||||||||||
(a) Primarily reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc. and the elimination of intercompany transactions. |
UTILITY FINANCIAL RESULTS | ||||||||||||||||||||||||||
2020 UTILITY CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||||||||||||||
OTHER/ | ||||||||||||||||||||||||||
In thousands, as of December 31, 2020. | E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS(a) | UTILITY | ||||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||||||||||||||
Currently maturing long-term debt | $485,000 | $240,000 | $— | $— | $200,000 | $100,015 | $— | $1,025,015 | ||||||||||||||||||
Payable due to associated companies | — | — | — | 1,618 | — | — | (1,618) | — | ||||||||||||||||||
Accounts payable: | ||||||||||||||||||||||||||
Associated companies | 59,448 | 103,148 | 61,727 | 54,234 | 55,944 | 15,309 | (317,563) | 32,247 | ||||||||||||||||||
Other | 208,591 | 1,450,008 | 117,629 | 60,766 | 350,947 | 41,313 | 312,448 | 2,541,702 | ||||||||||||||||||
Customer deposits | 98,506 | 152,612 | 86,200 | 27,912 | 36,282 | — | — | 401,512 | ||||||||||||||||||
Taxes accrued | 81,837 | 42,617 | 108,084 | 4,700 | 52,438 | 82,977 | 47,857 | 420,510 | ||||||||||||||||||
Interest accrued | 22,745 | 92,249 | 20,889 | 8,095 | 20,856 | 12,722 | 1 | 177,557 | ||||||||||||||||||
Deferred fuel costs | 53,065 | — | 14,691 | — | 85,356 | — | 1 | 153,113 | ||||||||||||||||||
Current portion of unprotected excess accumulated deferred income taxes | — | 31,138 | — | 3,296 | 29,249 | — | — | 63,683 | ||||||||||||||||||
Pension and other postretirement liabilities | — | — | — | — | — | — | 48,757 | 48,757 | ||||||||||||||||||
Other | 40,628 | 62,968 | 34,270 | 5,462 | 12,370 | 4,248 | 22,149 | 182,095 | ||||||||||||||||||
Total | 1,049,820 | 2,174,740 | 443,490 | 166,083 | 843,442 | 256,584 | 112,032 | 5,046,191 | ||||||||||||||||||
NON-CURRENT LIABILITIES: | ||||||||||||||||||||||||||
Accumulated deferred income taxes and taxes accrued | 1,286,123 | 2,138,522 | 646,674 | 338,714 | 639,422 | 359,835 | (220,301) | 5,188,989 | ||||||||||||||||||
Accumulated deferred investment tax credits | 30,500 | 107,317 | 9,062 | 16,095 | 9,942 | 38,902 | 676 | 212,494 | ||||||||||||||||||
Regulatory liability for income taxes - net | 467,031 | 447,628 | 224,000 | 55,675 | 175,594 | 151,829 | — | 1,521,757 | ||||||||||||||||||
Other regulatory liabilities | 686,872 | 918,293 | 15,828 | — | 32,297 | 665,396 | 5,165 | 2,323,851 | ||||||||||||||||||
Decommissioning and asset retirement cost liabilities | 1,314,160 | 1,573,307 | 9,762 | 3,768 | 8,063 | 968,910 | 1 | 3,877,971 | ||||||||||||||||||
Accumulated provisions | 70,169 | 24,939 | 46,504 | 89,898 | 8,382 | — | 2,619 | 242,511 | ||||||||||||||||||
Pension and other postretirement liabilities | 361,682 | 692,728 | 110,901 | — | — | 125,412 | 933,302 | 2,224,025 | ||||||||||||||||||
Long-term debt (includes securitization bonds | ||||||||||||||||||||||||||
of $174,635 as of December 31, 2020) | 3,482,507 | 8,787,451 | 1,780,577 | 629,704 | 2,293,708 | 705,259 | — | 17,679,206 | ||||||||||||||||||
Long-term payable due to associated companies | — | — | — | 10,911 | — | — | (10,911) | — | ||||||||||||||||||
Other | 75,098 | 382,894 | 47,730 | 21,141 | 58,643 | 61,295 | 553,569 | 1,200,370 | ||||||||||||||||||
Total | 7,774,142 | 15,073,079 | 2,891,038 | 1,165,906 | 3,226,051 | 3,076,838 | 1,264,120 | 34,471,174 | ||||||||||||||||||
Preferred stock without sinking fund | — | — | — | — | — | — | 195,161 | 195,161 | ||||||||||||||||||
EQUITY: | ||||||||||||||||||||||||||
Common stock or member's equity | 3,276,169 | 7,453,361 | 1,672,734 | 606,917 | 49,452 | 951,850 | (12,036,735) | 1,973,748 | ||||||||||||||||||
Paid-in capital | — | — | — | — | 955,162 | — | 3,767,792 | 4,722,954 | ||||||||||||||||||
Retained earnings | — | — | — | — | 1,117,964 | 128,696 | 8,459,177 | 9,705,837 | ||||||||||||||||||
Accumulated other comprehensive (loss) | — | 4,327 | — | — | — | — | (94,239) | (89,912) | ||||||||||||||||||
Less – treasury stock, at cost | — | — | — | — | — | — | 120,000 | 120,000 | ||||||||||||||||||
Total common shareholders' equity | 3,276,169 | 7,457,688 | 1,672,734 | 606,917 | 2,122,578 | 1,080,546 | (24,005) | 16,192,627 | ||||||||||||||||||
Preferred stock without sinking fund | — | — | — | — | 35,000 | — | — | 35,000 | ||||||||||||||||||
Total | 3,276,169 | 7,457,688 | 1,672,734 | 606,917 | 2,157,578 | 1,080,546 | (24,005) | 16,227,627 | ||||||||||||||||||
TOTAL LIABILITIES AND EQUITY | $12,100,131 | $24,705,507 | $5,007,262 | $1,938,906 | $6,227,071 | $4,413,968 | $1,547,308 | $55,940,153 | ||||||||||||||||||
Totals may not foot due to rounding. | ||||||||||||||||||||||||||
(a) Primarily reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc. and the elimination of intercompany transactions. |
UTILITY FINANCIAL RESULTS | |||||||||||
UTILITY SELECTED ANNUAL FINANCIAL METRICS | |||||||||||
2020 | 2019 | 2018 | |||||||||
ENTERGY ARKANSAS, LLC | |||||||||||
As-Reported Earnings ($ millions) | 245 | 263 | 252 | ||||||||
Less Adjustments ($ millions) | 6 | — | (2) | ||||||||
Adjusted Earnings ($ millions) | 239 | 263 | 254 | ||||||||
GAAP MEASURES | |||||||||||
ROIC – As-Reported (%) | 5.0 | 5.6 | 5.8 | ||||||||
Return on Average Member's Equity – As-Reported (%) | 7.7 | 8.6 | 9.4 | ||||||||
Debt to Capital (%) | 54.8 | 53.0 | 52.0 | ||||||||
Total Debt ($ millions) | 3,980 | 3,528 | 3,226 | ||||||||
Total Preferred ($ millions) | — | — | — | ||||||||
Total Equity ($ millions) | 3,276 | 3,126 | 2,983 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROIC – Adjusted (%) | 4.9 | 5.6 | 5.9 | ||||||||
Return on Average Member's Equity – Adjusted (%) | 7.5 | 8.6 | 9.5 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 3,980 | 3,522 | 3,205 | ||||||||
Debt to Capital, excluding securitization debt (%) | 54.8 | 53.0 | 51.8 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 53.6 | 53.0 | 51.8 | ||||||||
Totals may not foot due to rounding. | |||||||||||
ENTERGY LOUISIANA, LLC | |||||||||||
As-Reported Net Income ($ millions) | 1,082 | 692 | 676 | ||||||||
Less Adjustments ($ millions) | 383 | — | 50 | ||||||||
Adjusted Net Income ($ millions) | 699 | 692 | 626 | ||||||||
GAAP MEASURES | |||||||||||
ROIC – As-Reported (%) | 8.7 | 6.8 | 7.1 | ||||||||
Return on Average Common Equity – As-Reported (%) | 15.6 | 11.3 | 12.1 | ||||||||
Debt to Capital (%) | 54.8 | 53.4 | 53.6 | ||||||||
Total Debt ($ millions) | 9,044 | 7,321 | 6,806 | ||||||||
Total Preferred ($ millions) | — | — | — | ||||||||
Total Equity ($ millions) | 7,458 | 6,397 | 5,903 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROIC – Adjusted (%) | 6.2 | 6.8 | 6.7 | ||||||||
Return on Average Common Equity – Adjusted (%) | 10.1 | 11.3 | 11.2 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 9,034 | 7,288 | 6,750 | ||||||||
Debt to Capital, excluding securitization debt (%) | 54.8 | 53.3 | 53.3 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 52.7 | 53.2 | 53.2 | ||||||||
Totals may not foot due to rounding. | |||||||||||
UTILITY FINANCIAL RESULTS | |||||||||||
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED) | |||||||||||
2020 | 2019 | 2018 | |||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||
As-Reported Earnings ($ millions) | 141 | 120 | 125 | ||||||||
Less Adjustments ($ millions) | 4 | — | (1) | ||||||||
Adjusted Earnings ($ millions) | 137 | 120 | 126 | ||||||||
GAAP MEASURES | |||||||||||
ROIC – As-Reported (%) | 5.7 | 5.7 | 6.5 | ||||||||
Return on Average Member's Equity – As-Reported (%) | 8.7 | 8.5 | 10.1 | ||||||||
Debt to Capital (%) | 51.7 | 51.2 | 50.6 | ||||||||
Total Debt ($ millions) | 1,788 | 1,621 | 1,326 | ||||||||
Total Preferred ($ millions) | — | — | — | ||||||||
Total Equity ($ millions) | 1,673 | 1,542 | 1,292 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROIC – Adjusted (%) | 5.6 | 5.7 | 6.5 | ||||||||
Return on Average Member's Equity – Adjusted (%) | 8.5 | 8.5 | 10.2 | ||||||||
Net Debt to Net Capital (%) | 51.7 | 50.4 | 49.9 | ||||||||
Totals may not foot due to rounding. | |||||||||||
ENTERGY NEW ORLEANS, LLC | |||||||||||
As-Reported Earnings ($ millions) | 49 | 53 | 53 | ||||||||
Less Adjustments ($ millions) | (1) | — | — | ||||||||
Adjusted Earnings ($ millions) | 50 | 53 | 53 | ||||||||
GAAP MEASURES | |||||||||||
ROIC – As-Reported (%) | 5.9 | 6.8 | 7.6 | ||||||||
Return on Average Member's Equity – As-Reported (%) | 8.9 | 11.3 | 12.4 | ||||||||
Debt to Capital (%) | 51.5 | 53.1 | 52.1 | ||||||||
Total Debt ($ millions) | 646 | 564 | 484 | ||||||||
Total Preferred ($ millions) | — | — | — | ||||||||
Total Equity ($ millions) | 607 | 498 | 445 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROIC – Adjusted (%) | 6.3 | 7.2 | 8.2 | ||||||||
Return on Average Member's Equity – Adjusted (%) | 9.1 | 11.3 | 12.4 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 604 | 511 | 420 | ||||||||
Debt to Capital, excluding securitization debt (%) | 49.9 | 50.7 | 48.6 | ||||||||
Net debt to net capital, excluding securitization debt | 49.9 | 50.4 | 47.4 | ||||||||
Totals may not foot due to rounding. | |||||||||||
ENTERGY TEXAS, INC. | |||||||||||
As-Reported Net Income ($ millions) | 213 | 159 | 162 | ||||||||
Less Adjustments ($ millions) | 2 | — | 37 | ||||||||
Adjusted Net Income ($ millions) | 211 | 159 | 125 | ||||||||
GAAP MEASURES | |||||||||||
ROIC – As-Reported (%) | 6.5 | 6.5 | 7.8 | ||||||||
ROE – As-Reported (%) | 11.0 | 10.0 | 12.1 | ||||||||
Debt to Capital (%) | 53.7 | 51.7 | 51.6 | ||||||||
Total Debt ($ millions) | 2,499 | 1,928 | 1,514 | ||||||||
Total Preferred ($ millions) | 35 | 35 | — | ||||||||
Total Common Equity ($ millions) | 2,123 | 1,764 | 1,422 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROIC – Adjusted (%) | 6.7 | 7.0 | 7.4 | ||||||||
ROE – Adjusted (%) | 10.9 | 10.0 | 9.3 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 2,376 | 1,723 | 1,230 | ||||||||
Debt to Capital, excluding securitization debt (%) | 52.4 | 48.9 | 46.4 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 49.7 | 48.7 | 46.4 | ||||||||
Totals may not foot due to rounding. |
UTILITY FINANCIAL RESULTS | |||||||||||
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED) | |||||||||||
2020 | 2019 | 2018 | |||||||||
SYSTEM ENERGY RESOURCES, INC. | |||||||||||
As-Reported Net Income ($ millions) | 99 | 99 | 94 | ||||||||
Less Adjustments ($ millions) | (16) | — | — | ||||||||
Adjusted Earnings ($ millions) | 115 | 99 | 94 | ||||||||
GAAP MEASURES | |||||||||||
ROIC – As-Reported (%) | 7.9 | 9.4 | 9.2 | ||||||||
ROE – As-Reported (%) | 11.1 | 13.7 | 13.0 | ||||||||
Debt to Capital (%) | 42.7 | 43.5 | 46.1 | ||||||||
Total Debt ($ millions) | 805 | 548 | 631 | ||||||||
Total Preferred ($ millions) | — | — | — | ||||||||
Total Equity ($ millions) | 1,081 | 712 | 737 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROIC – Adjusted (%) | 8.9 | 9.4 | 9.2 | ||||||||
ROE – Adjusted (%) | 12.8 | 13.7 | 13.0 | ||||||||
Net Debt to Net Capital (%) | 34.2 | 40.2 | 42.1 | ||||||||
Totals may not foot due to rounding. | |||||||||||
UTILITY SECURITIES DETAIL | |||||||||||||||||||||||||||||
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY ARKANSAS, LLC | |||||||||||||||||||||||||||||
FIRST | CURRENT OR | ||||||||||||||||||||||||||||
BONDS: | MATURITY | CALL | OR FIRST | AS OF DECEMBER 31, | |||||||||||||||||||||||||
CUSIP | TYPE* | RATE | DATE | DATE | CALL PRICE | 2020 | 2019 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29364DAQ3 | 3.75% Series | M | 3.75 | % | 2/21 | Now | MW (T + .20%) | $ | 350 | $ | 350 | ||||||||||||||||||
29364DAR1 | 3.05% Series | M | 3.05 | % | 6/23 | Now | MW (T + .20%) | 250 | 250 | ||||||||||||||||||||
29364DAS9 | 3.7% Series | M | 3.70 | % | 6/24 | Now | MW (T + .15%) | 375 | 375 | ||||||||||||||||||||
29364DAU4 | 3.5% Series | M | 3.50 | % | 4/26 | Now | MW (T + .20%) | 600 | 600 | ||||||||||||||||||||
29364DAV2 | 4.00% Series | M | 4.00 | % | 6/28 | Now | MW (T + .20%) | 350 | 250 | ||||||||||||||||||||
29364DAT7 | 4.95% Series | M | 4.95 | % | 12/44 | Now | MW (T + .30%) | 250 | 250 | ||||||||||||||||||||
29366MAA6 | 4.20% Series | M | 4.20 | % | 4/49 | Now | MW (T + .20%) | 350 | 350 | ||||||||||||||||||||
29364D761 | 4.90% Series | M | 4.90 | % | 12/52 | Now | 100 | % | 200 | ||||||||||||||||||||
29364D753 | 4.75% Series | M | 4.75 | % | 6/63 | Now | 100 | % | 125 | ||||||||||||||||||||
29364D100 | 4.875% Series | M | 4.88 | % | 9/66 | 9/1/21 | 100 | % | 410 | 410 | |||||||||||||||||||
29366MAB4 | 2.65% Series | M | 2.65 | % | 6/51 | Now | MW (T + .20%) | 675 | |||||||||||||||||||||
453424BT9 | 2.375% Series – Independence County | G(a,d) | 2.38 | % | 1/21 | Non-Call Life | 45 | 45 | |||||||||||||||||||||
Total bonds | 3,655 | 3,205 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
76824*AV6 | 3.65% Series L – Variable Interest Entity Note Payable | 3.65 | % | 7/21 | Now | MW (T + .50%) | 90 | 90 | |||||||||||||||||||||
76824*AW4 | 3.17% Series M – Variable Interest Entity Note Payable | 3.17 | % | 12/23 | Now | MW (T + .50%) | 40 | 40 | |||||||||||||||||||||
Credit Facility - Variable Interest Entity | 3.33 | % | 9/21 | 12 | 15 | ||||||||||||||||||||||||
29365YAA1 | 2.30% Series Senior Secured – Securitization Bond | 2.30 | % | 8/21 | Non-Call Life | 7 | |||||||||||||||||||||||
Long-Term United States Department of Energy Obligation(b) | 192 | 191 | |||||||||||||||||||||||||||
Unamortized Premium and Discount – Net | 7 | 2 | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (31) | (35) | |||||||||||||||||||||||||||
Other | 2 | 2 | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 3,968 | 3,517 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 485 | — | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $ | 3,483 | $ | 3,517 | |||||||||||||||||||||||||
Fair Value of Long-Term Debt(c) | $ | 4,164 | $ | 3,557 | |||||||||||||||||||||||||
Weighted-average annualized coupon rate (e) | 3.7 | % | 4.0 | % | |||||||||||||||||||||||||
*M = Mortgage Bond; G = Governmental Bond | |||||||||||||||||||||||||||||
(a) Consists of pollution control revenue bonds and environmental revenue bonds. | |||||||||||||||||||||||||||||
(b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. | |||||||||||||||||||||||||||||
(c) The fair value excludes long-term DOE obligations at Entergy Arkansas and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2020 10K) and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(d) The bonds are secured by a series of collateral first mortgage bonds. | |||||||||||||||||||||||||||||
(e) Rate calculation only includes Bonds, VIE notes, and Securitization Bonds | |||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
ENTERGY UTILITY HOLDING COMPANY, LLC | ||||||||||||||||||||
SHARES | ||||||||||||||||||||
AUTHORIZED AND OUTSTANDING | ||||||||||||||||||||
PREFERRED STOCK: | AS OF DECEMBER 31, | AS OF DECEMBER 31, | ||||||||||||||||||
CUSIP | RATE | 2020 | 2019 | 2020 | 2019 | |||||||||||||||
($ millions) | ||||||||||||||||||||
Without sinking fund: | ||||||||||||||||||||
Cumulative, $100 par value: | ||||||||||||||||||||
7.5% Series(a) | 7.50% | 110,000 | 110,000 | $107 | $107 | |||||||||||||||
6.25% Series(a) | 6.25% | 15,000 | 15,000 | 14 | 14 | |||||||||||||||
6.75% Series(a) | 6.75% | 75,000 | 75,000 | 73 | 73 | |||||||||||||||
Total without sinking fund | 200,000 | 200,000 | $195 | $195 | ||||||||||||||||
(a) Dollar amount outstanding is net of preferred stock issuance costs. | ||||||||||||||||||||
Totals may not foot due to rounding. | ||||||||||||||||||||
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY LOUISIANA, LLC | |||||||||||||||||||||||||||||
CURRENT | |||||||||||||||||||||||||||||
BONDS: | MATURITY | FIRST CALL | OR FIRST | AS OF DECEMBER 31, | |||||||||||||||||||||||||
CUSIP | TYPE* | RATE | DATE | DATE | CALL PRICE | 2020 | 2019 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29365PAQ5 | 3.95% Series | M | 3.95 | % | 10/20 | Now | MW (T + .25%) | $ | 250 | ||||||||||||||||||||
29364WAN8 | 4.8% Series | M | 4.80 | % | 5/21 | Now | MW (T + .25%) | 200 | 200 | ||||||||||||||||||||
29364WAR9 | 3.30% Series | M | 3.30 | % | 12/22 | Now | MW (T + .25%) | 200 | 200 | ||||||||||||||||||||
29364WAS7 | 4.05% Series | M | 4.05 | % | 9/23 | Now | MW (T + .20%) | 325 | 325 | ||||||||||||||||||||
29365PAP7 | 5.59% Series | M | 5.59 | % | 10/24 | Now | MW (T + .40%) | 300 | 300 | ||||||||||||||||||||
29364WAK4 | 5.40% Series | M | 5.40 | % | 11/24 | Now | MW (T + .35%) | 400 | 400 | ||||||||||||||||||||
29365PAR3 | 3.78% Series | M | 3.78 | % | 4/25 | Now | MW (T + .20%) | 110 | 110 | ||||||||||||||||||||
29364WAU2 | 3.78% Series | M | 3.78 | % | 4/25 | Now | MW (T + .20%) | 190 | 190 | ||||||||||||||||||||
29364WAM0 | 4.44% Series | M | 4.44 | % | 1/26 | Now | MW (T + .30%) | 250 | 250 | ||||||||||||||||||||
29364WAY4 | 2.4% Series | M | 2.40 | % | 10/26 | Now | MW (T + .15%) | 400 | 400 | ||||||||||||||||||||
29364WAZ1 | 3.12% Series | M | 3.12 | % | 9/27 | Now | MW (T + .15%) | 450 | 450 | ||||||||||||||||||||
29364WAW8 | 3.25% Series | M | 3.25 | % | 4/28 | Now | MW (T + .25%) | 425 | 425 | ||||||||||||||||||||
29364WAX6 | 3.05% Series | M | 3.05 | % | 6/31 | Now | MW (T + .25%) | 325 | 325 | ||||||||||||||||||||
29364WBA5 | 4.0% Series | M | 4.00 | % | 3/33 | Now | MW (T + .20%) | 750 | 750 | ||||||||||||||||||||
29364WAT5 | 5.0% Series | M | 5.00 | % | 7/44 | Now | MW (T + .25%) | 170 | 170 | ||||||||||||||||||||
29364WAV0 | 4.95% Series | M | 4.95 | % | 1/45 | Now | MW (T + .30%) | 450 | 450 | ||||||||||||||||||||
29364WBB3 | 4.2% Series | M | 4.20 | % | 9/48 | Now | MW (T + .20%) | 900 | 600 | ||||||||||||||||||||
29364WBC1 | 4.2% Series | M | 4.20 | % | 4/50 | Now | MW (T + .20%) | 525 | 525 | ||||||||||||||||||||
29364W504 | 5.25% Series | M | 5.25 | % | 7/52 | Now | 100% | 200 | |||||||||||||||||||||
29364W603 | 4.7% Series | M | 4.70 | % | 6/63 | Now | 100% | 100 | |||||||||||||||||||||
29364W108 | 4.875% Series | M | 4.88 | % | 9/66 | 9/1/21 | 100% | 270 | 270 | ||||||||||||||||||||
29364WBD9 | 2.90% Series | M | 2.90 | % | 3/51 | Now | MW (T+.20%) | 650 | |||||||||||||||||||||
29364WBF4 | 0.62% Series | M | 0.62 | % | 11/23 | 11/17/21 | 100% | 1,100 | |||||||||||||||||||||
29364WBE7 | 1.60% Series | M | 1.60 | % | 12/30 | Now | MW (T+.15%) | 300 | |||||||||||||||||||||
5463984Y1 | 3.375% Series – Louisiana Public Facilities Authority | G(a,c) | 3.38 | % | 9/28 | 3/1/21 | 100% | 84 | 84 | ||||||||||||||||||||
5463984Z8 | 3.5% Series – Louisiana Public Facilities Authority | G(a,c) | 3.50 | % | 6/30 | 6/1/21 | 100% | 115 | 115 | ||||||||||||||||||||
Total bonds | $ | 8,889 | $ | 7,089 | |||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
76083@AT4 | 3.38% Series R – Variable Interest Entity Note Payable | 3.38 | % | 8/20 | Now | MW (T + .50%) | 70 | ||||||||||||||||||||||
76822*AM8 | 3.92% Series H – Variable Interest Entity Note Payable | 3.92 | % | 2/21 | Now | MW (T + .50%) | 40 | 40 | |||||||||||||||||||||
76822*AN6 | 3.22% Series I – Variable Interest Entity Note Payable | 3.22 | % | 12/23 | Now | MW (T + .50%) | 20 | 20 | |||||||||||||||||||||
76803@AU1 | 2.51% Series V - Variable Interest Entity Note Payable | 2.51 | % | 6/27 | Now | MW (T + .50%) | 70 | ||||||||||||||||||||||
Credit Facility – Variable Interest Entity – River Bend | 3.23 | % | 9/21 | 19 | 70 | ||||||||||||||||||||||||
Credit Facility – Variable Interest Entity – Waterford | 3.30 | % | 9/21 | 39 | 50 | ||||||||||||||||||||||||
29366AAA2 | 2.04% Series Senior Secured – Securitization Bond | 2.04 | % | 6/21 | 11 | 34 | |||||||||||||||||||||||
Unamortized Premium and Discount – Net | (3) | (17) | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (61) | (58) | |||||||||||||||||||||||||||
Other | 4 | 6 | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 9,027 | 7,304 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 240 | 320 | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $8,787 | $6,984 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(b) | $10,258 | $7,961 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (d) | 3.5 | % | 4.1 | % | |||||||||||||||||||||||||
*M = Mortgage Bond; G = Governmental Bond | |||||||||||||||||||||||||||||
(a) Consists of pollution control revenue bonds and environmental revenue bonds. | |||||||||||||||||||||||||||||
(b) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2020 10K) and are based on prices derived from inputs such as benchmark yields and reported trades. |
(c) The bonds are secured by a series of collateral first mortgage bonds. | |||||||||||||||||||||||||||||
(d) Rate calculation only includes Bonds, VIE notes, and Securitization Bonds | |||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||||||||||||||||||||
CURRENT | |||||||||||||||||||||||||||||
BONDS: | MATURITY | FIRST CALL | OR FIRST | AS OF DECEMBER 31, | |||||||||||||||||||||||||
CUSIP | TYPE* | RATE | DATE | DATE | CALL PRICE | 2020 | 2019 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29364NAR9 | 3.1% Series | M | 3.10 | % | 7/23 | Now | MW (T + .25%) | $250 | $250 | ||||||||||||||||||||
29364NAS7 | 3.75% Series | M | 3.75 | % | 7/24 | Now | MW (T + .15%) | 100 | 100 | ||||||||||||||||||||
29364NAU2 | 3.25% Series | M | 3.25 | % | 12/27 | Now | MW (T + .15%) | 150 | 150 | ||||||||||||||||||||
29364NAT5 | 2.85% Series | M | 2.85 | % | 6/28 | Now | MW (T + .20%) | 375 | 375 | ||||||||||||||||||||
29365*AA6 | 4.52% Series | M | 4.52 | % | 12/38 | Now | MW (T + .50%) | 55 | 55 | ||||||||||||||||||||
29366WAA4 | 3.85% Series | M | 3.85 | % | 6/49 | Now | MW (T + .20%) | 435 | 435 | ||||||||||||||||||||
29364N108 | 4.90% Series | M | 4.90 | % | 10/66 | 10/1/21 | 100% | 260 | 260 | ||||||||||||||||||||
29366WAB2 | 3.50% Series | M | 3.50 | % | 6/51 | Now | MW (T + .35%) | 170 | |||||||||||||||||||||
Total bonds | 1,795 | 1,625 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
Unamortized Premium and Discount – Net | 4 | 6 | |||||||||||||||||||||||||||
Unamortized Debt Issuance Cost | (18) | (17) | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 1,781 | 1,614 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | — | — | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $1,781 | $1,614 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(a) | $2,021 | $1,710 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (B) | 3.6 | % | 3.6 | % | |||||||||||||||||||||||||
*M = Mortgage Bond | |||||||||||||||||||||||||||||
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2020 10K) and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(b) Rate calculation only includes Bonds | |||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
ENTERGY NEW ORLEANS, LLC | |||||||||||||||||||||||||||||
CURRENT | |||||||||||||||||||||||||||||
BONDS: | MATURITY | FIRST CALL | OR FIRST | AS OF DECEMBER 31, | |||||||||||||||||||||||||
CUSIP | TYPE* | RATE | DATE | DATE | CALL PRICE | 2020 | 2019 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29364PAM5 | 5.10% Series | M | 5.10 | % | 12/20 | Now | MW (T + .35%) | $25 | |||||||||||||||||||||
29364PAN3 | 3.9% Series | M | 3.90 | % | 7/23 | Now | MW (T + .30%) | 100 | 100 | ||||||||||||||||||||
29364PAP8 | 4.0% Series | M | 4.00 | % | 6/26 | Now | MW (T + .35%) | 85 | 85 | ||||||||||||||||||||
29365@AA4 | 4.51% Series | M | 4.51 | % | 9/33 | Now | MW (T + .50%) | 60 | 60 | ||||||||||||||||||||
29364P509 | 5.0% Series | M | 5.00 | % | 12/52 | Now | 100 | % | 30 | 30 | |||||||||||||||||||
29364P103 | 5.5% Series | M | 5.50 | % | 4/66 | 4/1/21 | 100 | % | 110 | 110 | |||||||||||||||||||
29365@AB2 | 3.0% Series | M | 3.00 | % | 3/26 | Now | MW (T + .50%) | 78 | |||||||||||||||||||||
29365@AC0 | 3.75% Series | M | 3.75 | % | 3/40 | Now | MW (T + .50%) | 62 | — | ||||||||||||||||||||
Total bonds | 525 | 410 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
29277VAA4 | 2.67% Series Senior Secured - Securitization Bond | 2.67% | 6/27 | 43 | 54 | ||||||||||||||||||||||||
Unsecured Term Loan | 3.00 | % | 5/22 | 70 | 70 | ||||||||||||||||||||||||
Credit Facility - Variable Interest Entity | 2.92 | % | 20 | ||||||||||||||||||||||||||
Payable to Entergy Louisiana | 11/35 | 13 | 14 | ||||||||||||||||||||||||||
Unamortized Premium and Discount – Net | — | — | |||||||||||||||||||||||||||
Unamortized Debt Issuance Cost | (8) | (8) | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 642 | 561 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 27 | ||||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $642 | $534 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(a) | $621 | $524 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (B) | 4.1 | % | 4.4 | % | |||||||||||||||||||||||||
*M = Mortgage | |||||||||||||||||||||||||||||
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2020 10K) and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(b) Rate calculation only includes Bonds and Securitization Bonds | |||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY TEXAS, INC. | |||||||||||||||||||||||||||||
CURRENT | |||||||||||||||||||||||||||||
BONDS: | MATURITY | FIRST CALL | OR FIRST | AS OF DECEMBER 31, | |||||||||||||||||||||||||
CUSIP | TYPE* | RATE | DATE | DATE | CALL PRICE | 2020 | 2019 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29365TAE4 | 2.55% Series | M | 2.55 | % | 6/21 | Now | MW (T + .20%) | $125 | $125 | ||||||||||||||||||||
29365TAC8 | 4.1% Series | M | 4.10 | % | 9/21 | Now | MW (T + .35%) | 75 | 75 | ||||||||||||||||||||
29365TAF1 | 3.45% Series | M | 3.45 | % | 12/27 | Now | MW (T + .20%) | 150 | 150 | ||||||||||||||||||||
29365TAG9 | 4.0% Series | M | 4.00 | % | 3/29 | Now | MW (T + .25%) | 300 | 300 | ||||||||||||||||||||
29365TAH7 | 4.5% Series | M | 4.50 | % | 3/39 | Now | MW (T + .25%) | 400 | 400 | ||||||||||||||||||||
29365TAD6 | 5.15% Series | M | 5.15 | % | 6/45 | Now | MW (T + .35%) | 250 | 250 | ||||||||||||||||||||
29365TAJ3 | 3.55% Series | M | 3.55 | % | 9/49 | Now | MW (T + .20%) | 475 | 300 | ||||||||||||||||||||
29365T104 | 5.625% Series | M | 5.63 | % | 6/64 | 6/1/19 | 100% | 135 | |||||||||||||||||||||
29365TAK0 | 1.75% Series | M | 1.75 | % | 3/31 | Now | MW (T + .20%) | 600 | |||||||||||||||||||||
Total bonds | 2,375 | 1,735 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
29365KAB9 | 3.65% Series Senior Secured, Series A - Securitization Bond | 3.65% | 8/19 | — | |||||||||||||||||||||||||
29365QAC4 | 5.93% Series Senior Secured, Series A - Securitization Bond | 5.93% | 6/22 | 17 | 50 | ||||||||||||||||||||||||
29365KAC7 | 4.38% Series Senior Secured - Securitization Bond | 4.38% | 11/23 | 106 | 156 | ||||||||||||||||||||||||
Unamortized Premium and Discount – Net | 14 | (5) | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (19) | (18) | |||||||||||||||||||||||||||
Other | 4 | ||||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 2,494 | 1,923 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 200 | — | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $2,294 | $1,923 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(a) | $2,765 | $2,090 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (b) | 3.5 | % | 4.2 | % | |||||||||||||||||||||||||
*M = Mortgage Bond | |||||||||||||||||||||||||||||
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2020 10K) and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(b) Rate calculation only includes Bonds and Securitization Bonds | |||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
SHARES | ||||||||||||||||||||
AUTHORIZED AND OUTSTANDING | ||||||||||||||||||||
PREFERRED STOCK: | AS OF DECEMBER 31, | AS OF DECEMBER 31, | ||||||||||||||||||
CUSIP | RATE | 2020 | 2019 | 2020 | 2019 | |||||||||||||||
($ millions) | ||||||||||||||||||||
Without sinking fund: | ||||||||||||||||||||
Cumulative, $100 par value: | $ | — | $ | — | $ | — | $ | — | ||||||||||||
29365T302 | 5.375% Series | 5.375% | $ | 1,400,000 | $ | — | $ | 35 | $ | — | ||||||||||
Total without sinking fund | $ | 1,400,000 | $ | — | $ | 35 | $ | — | ||||||||||||
Totals may not foot due to rounding. |
SYSTEM ENERGY RESOURCES, INC. | |||||||||||||||||||||||||||||
CURRENT | |||||||||||||||||||||||||||||
BONDS: | MATURITY | FIRST CALL | OR FIRST | AS OF DECEMBER 31, | |||||||||||||||||||||||||
CUSIP | TYPE* | RATE | DATE | DATE | CALL PRICE | 2020 | 2019 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
605277AB8 | 5.875% Series – MBFC | G(a) | 5.88 | % | 4/22 | Now | 100% | $134 | $134 | ||||||||||||||||||||
871911AS2 | 4.10% Series | M | 4.10 | % | 4/23 | Now | MW (T + 0.40%) | 250 | 250 | ||||||||||||||||||||
871911AT0 | 2.14% Series | M | 2.14 | % | 12/25 | Now | MW (T + 0.30%) | 200 | |||||||||||||||||||||
Total bonds | 584 | 384 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
76823#AT8 | 3.42% Series J – Variable Interest Entity Note Payable | 3.42 | % | 4/21 | 100 | 100 | |||||||||||||||||||||||
76823#AU5 | 2.05% Series K – Variable Interest Entity Note Payable | 2.05 | % | 90 | |||||||||||||||||||||||||
Credit Facility – Variable Interest Entity | 3.34 | % | 9/21 | 32 | |||||||||||||||||||||||||
361561AA1 | Grand Gulf Lease Obligation 5.13% | 5.13 | % | 9/27 | 34 | 34 | |||||||||||||||||||||||
Unamortized Premium and Discount – Net | — | — | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (3) | (2) | |||||||||||||||||||||||||||
Other | — | ||||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 805 | 548 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 100 | — | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $705 | $548 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(b) | $841 | $565 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (c) | 3.6 | % | 4.5 | % | |||||||||||||||||||||||||
*M = Mortgage Bond; G = Governmental Bond | |||||||||||||||||||||||||||||
(a) Consists of pollution control revenue bonds and environmental revenue bonds. | |||||||||||||||||||||||||||||
(b) The fair value excludes lease obligations of $34 million at System Energy and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 211 of 2020 10K) and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(c) Rate calculation only includes Bonds and VIE notes | |||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||
UTILITY TOTAL CAPABILITY | |||||||||||||||||
OWNED & | |||||||||||||||||
OPERATED | LEASED | OPERATED | |||||||||||||||
As of December 31, 2020 | PLANTS | UNITS | (MW)(a) | (MW)(b) | |||||||||||||
Plants that use fuel type: | |||||||||||||||||
Gas/Oil | 24 | 46 | 16,490 | 17,204 | |||||||||||||
Coal | 3 | 5 | 2,211 | 3,845 | |||||||||||||
Petroleum Coke | 1 | 2 | — | 190 | |||||||||||||
Total Fossil | 28 | 53 | 18,701 | 21,239 | |||||||||||||
Hydro | 3 | 7 | 73 | 147 | |||||||||||||
Nuclear | 2 | 3 | 5,217 | 5,357 | |||||||||||||
Solar | 4 | 4 | 29 | 29 | |||||||||||||
Total Capability | 37 | 67 | 24,020 | 26,772 | |||||||||||||
All plants that have units with multiple fuel types are in the Gas & Oil plant count. | |||||||||||||||||
(a) Owned and Leased 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) Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties, which Entergy operates for the participating parties. |
UTILITY SELECTED OPERATING DATA | |||||||||||
2020 | 2019 | 2018 | |||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 60,734 | 52,672 | 51,093 | ||||||||
Coal | 4,169 | 8,214 | 11,848 | ||||||||
Nuclear | 37,807 | 37,484 | 36,242 | ||||||||
Hydro | 209 | 224 | 160 | ||||||||
Solar | 6 | 5 | 4 | ||||||||
Total Net Generation | 102,925 | 98,600 | 99,347 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | — | — | — | ||||||||
Non-affiliated Companies | 26,651 | 34,647 | 33,973 | ||||||||
Total Purchased Power | 26,651 | 34,647 | 33,973 | ||||||||
Total Sources of Energy | 129,576 | 133,246 | 133,320 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 35,173 | 36,093 | 37,107 | ||||||||
Commercial | 26,465 | 28,754 | 29,426 | ||||||||
Industrial | 47,117 | 48,484 | 48,384 | ||||||||
Governmental | 2,415 | 2,578 | 2,581 | ||||||||
Total Retail | 111,170 | 115,909 | 117,498 | ||||||||
Sales for Resale | 13,658 | 13,210 | 11,715 | ||||||||
Unbilled Energy | 40 | (83) | (513) | ||||||||
Total Electric Energy Sales | 124,868 | 129,036 | 128,700 | ||||||||
Line Losses and Company Usage | 4,709 | 4,210 | 4,620 | ||||||||
Total Uses of Energy | 129,577 | 133,246 | 133,320 | ||||||||
Electric Energy Sales (Weather Adjusted)(GWh): | |||||||||||
Residential | 36,396 | 35,446 | 35,876 | ||||||||
Commercial | 26,639 | 28,490 | 29,047 | ||||||||
Industrial | 47,117 | 48,483 | 48,384 | ||||||||
Governmental | 2,399 | 2,561 | 2,566 | ||||||||
Total Weather Adjusted Sales | 112,551 | 114,980 | 115,873 | ||||||||
Peak Demand (MW) | 21,340 | 21,598 | 21,587 | ||||||||
Operational Summer Capacity at Peak (MW) | 25,665 | 23,887 | 23,121 | ||||||||
Annual System Load Factor (%) | 62 | 64 | 65 | ||||||||
Retail Electric Sales Growth Rate (%) | (4.1) | (1.4) | 4.1 | ||||||||
Retail Electric Sales Weather-Adjusted Growth Rate (%) | (2.1) | (0.8) | 0.8 | ||||||||
Average Fuel Cost (cents/KWh) | |||||||||||
Natural Gas | 1.92 | 2.33 | 2.84 | ||||||||
Nuclear Fuel | 0.57 | 0.73 | 0.84 | ||||||||
Coal | 2.54 | 2.31 | 2.24 | ||||||||
Purchased Power | 4.36 | 4.86 | 5.23 | ||||||||
MISO Purchases | 2.48 | 2.71 | 3.71 | ||||||||
Certain prior year data has been reclassified to conform with current year presentation. | |||||||||||
Totals may not foot due to rounding. |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||
2020 CONSOLIDATING UTILITY ELECTRIC STATISTICAL INFORMATION | |||||||||||||||||||||||||||||
E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS | UTILITY | % | |||||||||||||||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||||||||||||||||||||
Residential | 841,162 | 1,270,187 | 523,379 | 243,502 | 672,087 | — | — | 3,550,317 | 37 | % | |||||||||||||||||||
Commercial | 466,273 | 886,548 | 395,875 | 179,406 | 364,638 | — | — | 2,292,740 | 26 | % | |||||||||||||||||||
Industrial | 461,907 | 1,314,234 | 145,100 | 24,248 | 385,681 | — | — | 2,331,169 | 27 | % | |||||||||||||||||||
Governmental | 18,011 | 68,901 | 41,955 | 59,819 | 23,445 | — | — | 212,131 | 2 | % | |||||||||||||||||||
Total Retail | 1,787,352 | 3,539,870 | 1,106,309 | 506,975 | 1,445,851 | — | — | 8,386,357 | 93 | % | |||||||||||||||||||
Sales for Resale | 173,115 | 333,594 | 77,530 | 33,213 | 100,273 | 520,659 | (942,551) | 295,834 | 3 | % | |||||||||||||||||||
Other | 124,026 | 145,599 | 64,015 | 20,444 | 41,121 | (25,201) | (5,370) | 364,634 | 4 | % | |||||||||||||||||||
Total Electric Operating Revenues | 2,084,494 | 4,019,063 | 1,247,854 | 560,632 | 1,587,245 | 495,458 | (947,921) | 9,046,826 | 100 | % | |||||||||||||||||||
SOURCES OF ENERGY (GWh) | |||||||||||||||||||||||||||||
Net Generation: | |||||||||||||||||||||||||||||
Gas & Oil | 6,358 | 31,528 | 12,761 | 3,060 | 7,027 | — | — | 60,734 | 40 | % | |||||||||||||||||||
Coal | 2,719 | 416 | 723 | — | 311 | — | — | 4,169 | 6 | % | |||||||||||||||||||
Nuclear | 15,058 | 16,929 | — | — | — | 5,820 | — | 37,807 | 28 | % | |||||||||||||||||||
Hydro | 209 | — | — | — | — | — | — | 209 | — | % | |||||||||||||||||||
Solar | — | — | 2 | 4 | — | — | — | 6 | — | % | |||||||||||||||||||
Total Net Generation | 24,344 | 48,873 | 13,486 | 3,064 | 7,338 | 5,820 | — | 102,925 | 74 | % | |||||||||||||||||||
Purchased Power: | |||||||||||||||||||||||||||||
Affiliated Companies | 2,105 | 2,648 | 2,336 | 3,801 | 3,404 | — | (14,294) | — | — | ||||||||||||||||||||
Non-affiliated Companies | 1,533 | 11,821 | 1,650 | 671 | 10,977 | — | 26,651 | 26 | % | ||||||||||||||||||||
Total Purchased Power | 3,638 | 14,469 | 3,987 | 4,471 | 14,381 | — | (14,294) | 26,651 | 26 | % | |||||||||||||||||||
Total Sources of Energy | 27,982 | 63,342 | 17,473 | 7,535 | 21,719 | 5,820 | (14,294) | 129,576 | 100 | % | |||||||||||||||||||
USES OF ENERGY (GWh) | |||||||||||||||||||||||||||||
Electric Energy Sales: | |||||||||||||||||||||||||||||
Residential | 7,584 | 13,771 | 5,378 | 2,294 | 6,146 | — | 35,173 | 31 | % | ||||||||||||||||||||
Commercial | 5,356 | 10,465 | 4,283 | 1,975 | 4,386 | — | 26,465 | 25 | % | ||||||||||||||||||||
Industrial | 7,586 | 28,881 | 2,343 | 423 | 7,885 | — | 47,117 | 42 | % | ||||||||||||||||||||
Governmental | 223 | 779 | 398 | 755 | 260 | — | 2,415 | 2 | % | ||||||||||||||||||||
Total Retail | 20,748 | 53,896 | 12,402 | 5,447 | 18,677 | — | — | 111,171 | 100 | % | |||||||||||||||||||
Sales for Resale | 5,856 | 7,950 | 4,316 | 1,969 | 2,013 | 5,849 | (14,294) | 13,658 | — | ||||||||||||||||||||
Unbilled Energy | — | (103) | 58 | (9) | 93 | — | 40 | — | |||||||||||||||||||||
Total Electric Energy Sales | 26,604 | 61,743 | 16,776 | 7,407 | 20,783 | 5,849 | (14,294) | 124,869 | — | ||||||||||||||||||||
Line Losses and Company Usage | 1,378 | 1,599 | 696 | 127 | 937 | (29) | 4,709 | — | |||||||||||||||||||||
Total Uses of Energy | 27,983 | 63,342 | 17,472 | 7,535 | 21,720 | 5,820 | (14,294) | 129,577 | — | ||||||||||||||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||||||||||||||||||||
Residential | 11.09 | 9.22 | 9.73 | 10.61 | 10.94 | — | — | 10.09 | — | ||||||||||||||||||||
Commercial | 8.71 | 8.47 | 9.24 | 9.08 | 8.31 | — | — | 8.66 | — | ||||||||||||||||||||
Industrial | 6.09 | 4.55 | 6.19 | 5.74 | 4.89 | — | — | 4.95 | — | ||||||||||||||||||||
Governmental | 8.08 | 8.84 | 10.54 | 7.93 | 9.02 | — | — | 8.78 | — | ||||||||||||||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||||||||||||||||||||
(as of December 31, 2020) | |||||||||||||||||||||||||||||
Residential | 600,286 | 944,762 | 381,617 | 186,299 | 414,438 | — | 2,527,402 | 85 | % | ||||||||||||||||||||
Commercial | 95,810 | 132,352 | 65,131 | 17,179 | 50,582 | — | 361,054 | 12 | % | ||||||||||||||||||||
Industrial | 25,134 | 10,956 | 3,827 | 1,707 | 5,681 | — | 47,305 | 2 | % | ||||||||||||||||||||
Governmental | 696 | 7,996 | 5,146 | 1,940 | 2,025 | — | 17,803 | 1 | % | ||||||||||||||||||||
Total Retail Customers | 721,926 | 1,096,066 | 455,721 | 207,125 | 472,726 | — | — | 2,953,564 | 100 | % | |||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY ARKANSAS, LLC | |||||||||||
2020 | 2019 | 2018 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 841,162 | 795,269 | 807,098 | ||||||||
Commercial | 466,273 | 538,850 | 425,523 | ||||||||
Industrial | 461,907 | 520,958 | 434,387 | ||||||||
Governmental | 18,011 | 20,795 | 16,537 | ||||||||
Total Retail | 1,787,352 | 1,875,873 | 1,683,545 | ||||||||
Sales for Resale | 173,115 | 257,864 | 248,861 | ||||||||
Other | 124,026 | 125,858 | 128,238 | ||||||||
Total Electric Operating Revenues | 2,084,494 | 2,259,594 | 2,060,644 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 6,358 | 8,836 | 8,983 | ||||||||
Coal | 2,719 | 4,882 | 6,263 | ||||||||
Nuclear | 15,058 | 13,575 | 12,721 | ||||||||
Hydro | 209 | 224 | 160 | ||||||||
Total Net Generation | 24,344 | 27,517 | 28,127 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 2,105 | 3,578 | 2,255 | ||||||||
Non-affiliated Companies | 1,533 | 1,122 | 1,494 | ||||||||
Total Purchased Power | 3,638 | 4,700 | 3,749 | ||||||||
Total Sources of Energy | 27,982 | 32,217 | 31,876 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 7,584 | 7,996 | 8,248 | ||||||||
Commercial | 5,356 | 5,822 | 5,967 | ||||||||
Industrial | 7,586 | 7,759 | 8,071 | ||||||||
Governmental | 223 | 241 | 239 | ||||||||
Total Retail | 20,748 | 21,818 | 22,525 | ||||||||
Sales for Resale | 5,856 | 9,385 | 8,220 | ||||||||
Unbilled Energy | — | 24 | (13) | ||||||||
Total Electric Energy Sales | 26,604 | 31,227 | 30,732 | ||||||||
Line Losses and Company Usage | 1,378 | 990 | 1,144 | ||||||||
Total Uses of Energy | 27,983 | 32,217 | 31,876 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 11.09 | 9.95 | 9.79 | ||||||||
Commercial | 8.71 | 9.26 | 7.13 | ||||||||
Industrial | 6.09 | 6.71 | 5.38 | ||||||||
Governmental | 8.08 | 8.63 | 6.92 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2020) | |||||||||||
Residential | 600,286 | 595,315 | 592,718 | ||||||||
Commercial | 95,810 | 95,320 | 94,640 | ||||||||
Industrial | 25,134 | 23,382 | 23,364 | ||||||||
Governmental | 696 | 667 | 769 | ||||||||
Total Retail Customers | 721,926 | 714,684 | 711,491 | ||||||||
Totals may not foot due to rounding. |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY ARKANSAS, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
OWNED & | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | FUEL | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | |||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | TYPE | PURPOSE | GENERATION(d) | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY(b) | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Lake Catherine | 4 | 100 | % | 1970 | 522 | Gas/Oil | Peaking | 11,049 | 1 | 689 | 311,856 | 468,682 | 59.6 | 27,927 | |||||||||||||||||||||||||||||||||
Ouachita | 1 | 100 | % | 2002 | 239 | Gas | Intermediate | 7,291 | 2 | 58 | 460,654 | Dry LNB, SCR | 2,115,089 | 17.9 | 37,876 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2002 | 240 | Gas | Intermediate | 2 | 62 | 492,586 | Dry LNB, SCR | |||||||||||||||||||||||||||||||||||||
Hot Spring | 1 | 100 | % | 2002 | 591 | Gas | Intermediate | 7,358 | 2 | 48 | 514,609 | Dry LNB, SCR | 1,158,230 | 31.9 | 36,994 | ||||||||||||||||||||||||||||||||
Independence | 1 | 31.5 | % | 1983 | 259 | Coal | Base | 10,253 | 1,080 | 506 | 610,488 | 5 | LNB w/Sep OFA, ESP, ACI | 475,711 | 35.6 | 16,958 | |||||||||||||||||||||||||||||||
White Bluff | 1 | 57 | % | 1980 | 466 | Coal | Base | 10,862 | 3,126 | 1,309 | 1,615,047 | 13 | LNB w/Sep OFA, ESP, ACI | 1,261,647 | 32.4 | 72,642 | |||||||||||||||||||||||||||||||
2 | 57 | % | 1981 | 469 | Coal | Base | 2,268 | 849 | 1,134,678 | 6 | LNB w/Sep OFA, ESP, ACI | 983,310 | |||||||||||||||||||||||||||||||||||
Carpenter | 1 | 100 | % | 1932 | 31 | Hydro | Peaking | 154,965 | 22.3 | 3,451 | |||||||||||||||||||||||||||||||||||||
2 | 100 | % | 1932 | 31 | Hydro | Peaking | |||||||||||||||||||||||||||||||||||||||||
Remmel | 1 | 100 | % | 1925 | 4 | Hydro | Peaking | 54,220 | 20.4 | 1,105 | |||||||||||||||||||||||||||||||||||||
2 | 100 | % | 1925 | 4 | Hydro | Peaking | |||||||||||||||||||||||||||||||||||||||||
3 | 100 | % | 1925 | 4 | Hydro | Peaking | |||||||||||||||||||||||||||||||||||||||||
Union Power Station | 2 | 100 | % | 2003 | 499 | Gas | Intermediate | 7,317 | 5 | 116 | 1,141,159 | Dry LNB, SCR | 2,615,981 | 16.9 | 44,217 | ||||||||||||||||||||||||||||||||
Arkansas | 1 | 100 | % | 1974 | 830 | Nuclear PWR(c) | Base | 10,324 | 7,436,372 | 22.1 | 333,136 | ||||||||||||||||||||||||||||||||||||
Nuclear One | 2 | 100 | % | 1980 | 988 | Nuclear PWR(c) | Base | 7,621,735 | |||||||||||||||||||||||||||||||||||||||
Total | 5,175 | 6,486 | 3,638 | 6,281,077 | 24 | 24,345,943 | 23.6 | 574,307 | |||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased 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) Installed NOx and particulate matter and mercury emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2 or CO2 control equipment operating on any unit. | |||||||||||||||||||||||||||||||||||||||||||||||
(c) PWR = Pressurized Water Reactor. | |||||||||||||||||||||||||||||||||||||||||||||||
(d) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency | |||||||||||||||||||||||||||||||||||||||||||||||
Total may not foot due to rounding. |
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY LOUISIANA, LLC | |||||||||||
2020 | 2019 | 2018 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 1,270,187 | 1,270,478 | 1,244,413 | ||||||||
Commercial | 886,548 | 947,412 | 941,321 | ||||||||
Industrial | 1,314,234 | 1,450,966 | 1,462,462 | ||||||||
Governmental | 68,901 | 71,046 | 68,587 | ||||||||
Total Retail | 3,539,870 | 3,739,902 | 3,716,783 | ||||||||
Sales for Resale | 333,594 | 333,394 | 356,603 | ||||||||
Other | 145,599 | 149,731 | 159,156 | ||||||||
Total Electric Operating Revenues | 4,019,063 | 4,223,027 | 4,232,542 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 31,528 | 27,773 | 25,869 | ||||||||
Coal | 416 | 1,100 | 1,819 | ||||||||
Nuclear | 16,929 | 13,981 | 17,298 | ||||||||
Hydro | — | — | — | ||||||||
Total Net Generation | 48,873 | 42,854 | 44,986 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 2,648 | 3,608 | 3,061 | ||||||||
Non-affiliated Companies | 11,821 | 17,959 | 17,211 | ||||||||
Total Purchased Power | 14,469 | 21,567 | 20,272 | ||||||||
Total Sources of Energy | 63,342 | 64,421 | 65,258 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 13,771 | 14,046 | 14,494 | ||||||||
Commercial | 10,465 | 11,353 | 11,578 | ||||||||
Industrial | 28,881 | 29,801 | 29,254 | ||||||||
Governmental | 779 | 827 | 823 | ||||||||
Total Retail | 53,896 | 56,027 | 56,149 | ||||||||
Sales for Resale | 7,950 | 6,738 | 7,260 | ||||||||
Unbilled Energy | (103) | (16) | (64) | ||||||||
Total Electric Energy Sales | 61,743 | 62,749 | 63,345 | ||||||||
Line Losses and Company Usage | 1,599 | 1,672 | 1,913 | ||||||||
Total Uses of Energy | 63,342 | 64,421 | 65,258 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 9.22 | 9.05 | 8.59 | ||||||||
Commercial | 8.47 | 8.34 | 8.13 | ||||||||
Industrial | 4.55 | 4.87 | 5.00 | ||||||||
Governmental | 8.84 | 8.59 | 8.33 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2020) | |||||||||||
Residential | 944,762 | 940,071 | 933,809 | ||||||||
Commercial | 132,352 | 132,364 | 131,119 | ||||||||
Industrial | 10,956 | 10,654 | 10,745 | ||||||||
Governmental | 7,996 | 8,003 | 7,990 | ||||||||
Total Retail Customers | 1,096,066 | 1,091,092 | 1,083,663 | ||||||||
Totals may not foot due to rounding. | |||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY LOUISIANA, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
OWNED & | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | ||||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | FUEL TYPE | PURPOSE | GENERATION(d) | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY(b) | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Acadia | 2 | 100 | % | 2002 | 533 | Gas | Intermediate | 7,616 | 5 | 85 | 1,074,895 | SCR | 2,532,721 | 20.7 | 52,323 | ||||||||||||||||||||||||||||||||
Little Gypsy | 2 | 100 | % | 1966 | 413 | Gas/Oil | Intermediate | 11,148 | 2 | 809 | 582,885 | BOOS/Combus Mod/Fuel Reburn | 1,632,398 | 32.3 | 52,677 | ||||||||||||||||||||||||||||||||
3 | 100 | % | 1969 | 514 | Gas/Oil | Intermediate | 2 | 1,308 | 505,106 | BOOS/IFGR | |||||||||||||||||||||||||||||||||||||
Ninemile | 4 | 100 | % | 1971 | 738 | Gas/Oil | Intermediate | 10,817 | 7 | 5,125 | 1,771,610 | BOOS/IFGR | 5,134,987 | 28.2 | 145,024 | ||||||||||||||||||||||||||||||||
5 | 100 | % | 1973 | 742 | Gas/Oil | Intermediate | 7 | 3,783 | 1,295,222 | BOOS/IFGR | |||||||||||||||||||||||||||||||||||||
6 | 100 | % | 2014 | 555 | Gas/Oil | Intermediate | 6,117 | 6 | 171 | 1,779,305 | SCR, O2 Catalyst, Water/Steam Injection | 4,353,939 | 18.5 | 80,760 | |||||||||||||||||||||||||||||||||
Perryville | 1 | 100 | % | 2002 | 526 | Gas | Intermediate | 7,157 | 5 | 156 | 1,346,514 | Dry LNB, SCR | 3,198,510 | 20.9 | 67,086 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2001 | 150 | Gas | Peaking | — | 4 | 15,577 | None | 10,219 | ||||||||||||||||||||||||||||||||||||
J. Wayne Leonard | 1 | 100 | % | 2019 | 911 | Gas | Intermediate | 6,920 | 12 | 147 | 2,471,553 | Dry LNB, SCR, O2 Catalyst | 5,847,398 | 21.5 | 125,930 | ||||||||||||||||||||||||||||||||
Lake Charles | 1 | 100 | % | 2020 | 913 | Gas | Intermediate | 7,073 | 7 | 81 | 1,314,162 | DLNB/SCR, O2 Catalyst | 3,228,513 | 23.2 | 74,911 | ||||||||||||||||||||||||||||||||
Sterlington | 7 | 100 | % | 1974 | 46 | Gas/Oil | Peaking | 22,602 | — | 3 | 751 | (951) | — | 561 | |||||||||||||||||||||||||||||||||
Waterford | 1 | 100 | % | 1975 | 410 | Gas/Oil | Intermediate | 6,920 | — | 31 | 23,921 | LNCB | 100,575 | 161.0 | 16,195 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 1975 | 422 | Gas/Oil | Intermediate | — | 95 | 63,236 | LNCB | |||||||||||||||||||||||||||||||||||||
4 | 100 | % | 2009 | 32 | Oil | Peaking | — | 1 | 1,033 | Water/Steam Injection | |||||||||||||||||||||||||||||||||||||
LA Station 2 | 10 | 100 | % | 1950 | — | Gas | Reserve | — | — | 201 | |||||||||||||||||||||||||||||||||||||
11 | 100 | % | 1950 | — | Gas | Reserve | |||||||||||||||||||||||||||||||||||||||||
12 | 100 | % | 1953 | — | Gas | Reserve | |||||||||||||||||||||||||||||||||||||||||
Roy S. Nelson | 4 | 100 | % | 1970 | — | Gas/Oil | Reserve | Combus Mod/Fuel Reburn | (6,612) | — | 1,485 | ||||||||||||||||||||||||||||||||||||
Calcasieu | 1 | 100 | % | 2000 | 142 | Gas | Peaking | 12,638 | — | 39 | 44,907 | Dry LNB | 63,331 | 98.4 | 7,872 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2001 | 159 | Gas | Peaking | — | 10 | 13,175 | Dry LNB | 16,649 | ||||||||||||||||||||||||||||||||||||
Ouachita | 3 | 100 | % | 2002 | 241 | Gas | Intermediate | 7,294 | 2 | 77 | 620,900 | Dry LNB, SCR | 1,393,386 | 19.6 | 27,291 | ||||||||||||||||||||||||||||||||
Roy S. Nelson | 6 | 40 | % | 1982 | 211 | Coal | Base | 11,675 | 1,139 | 387 | 476,150 | 2 | LNB w/ Sep OFA, ESP, ACI | 366,981 | 48.1 | 17,657 | |||||||||||||||||||||||||||||||
Big Cajun 2 | 3 | 24 | % | 1983 | 135 | Coal | Base | 29,445 | 197 | 40 | 70,352 | 1 | LNB w/ OFA, ESP, ACI | 53,987 | 190.0 | 10,259 | |||||||||||||||||||||||||||||||
River Bend | 1 | 100 | % | 1986 | 967 | Nuclear BWR(c) | Base | 10,867 | 7,980,200 | 28.4 | 226,553 | ||||||||||||||||||||||||||||||||||||
Washington Parish | 1 | 100 | % | 2020 | 185 | Gas | Peaking | — | — | 1,144 | LNB | (23) | — | 499 | |||||||||||||||||||||||||||||||||
2 | 100 | % | 2020 | 185 | Gas | Peaking | — | 1 | 2,812 | LNB | |||||||||||||||||||||||||||||||||||||
Waterford | 3 | 100 | % | 1985 | 1,177 | Nuclear PWR(c) | Base | 10,777 | 8,948,644 | 22.6 | 202,179 | ||||||||||||||||||||||||||||||||||||
Union Power Station | 3 | 100 | % | 2003 | 505 | Gas | Intermediate | 7,238 | 3 | 86 | 833,337 | Dry LNB, SCR | 1,931,605 | 21.6 | 86,684 | ||||||||||||||||||||||||||||||||
4 | 100 | % | 2003 | 505 | Gas | Intermediate | 3 | 90 | 904,044 | Dry LNB, SCR | 2,086,494 | ||||||||||||||||||||||||||||||||||||
Total | 11,317 | 1,399 | 12,529 | 15,212,591 | 3 | 48,872,949 | 24.5 | 1,196,145 | |||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased 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) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Low NOx Cell Burner (LNCB), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Water/Steam Injection, Flue Gas Recirculation (FGR), Induced Flue Gas Recirculation (IFGR), Burners-out-of-service (BOOS) and Activated Carbon Injection (ACI). Currently have no SO2 or CO2 control equipment operating on any unit. | |||||||||||||||||||||||||||||||||||||||||||||||
(c) BWR = Boiling Water Reactor; PWR = Pressurized Water Reactor. | |||||||||||||||||||||||||||||||||||||||||||||||
(d) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency | |||||||||||||||||||||||||||||||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||||||||||||||||||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||
2020 | 2019 | 2018 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 523,379 | 562,219 | 578,568 | ||||||||
Commercial | 395,875 | 444,173 | 461,832 | ||||||||
Industrial | 145,100 | 164,491 | 175,056 | ||||||||
Governmental | 41,955 | 44,300 | 43,747 | ||||||||
Total Retail | 1,106,309 | 1,215,183 | 1,259,203 | ||||||||
Sales for Resale | 77,530 | 39,295 | 25,812 | ||||||||
Other | 64,015 | 68,566 | 50,097 | ||||||||
Total Electric Operating Revenues | 1,247,854 | 1,323,044 | 1,335,112 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 12,761 | 7,647 | 7,318 | ||||||||
Coal | 723 | 1,411 | 2,421 | ||||||||
Nuclear | — | — | — | ||||||||
Hydro | — | — | — | ||||||||
Solar | 2 | 2 | 3 | ||||||||
Total Net Generation | 13,486 | 9,060 | 9,742 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 2,336 | 3,971 | 2,502 | ||||||||
Non-affiliated Companies | 1,650 | 2,752 | 3,155 | ||||||||
Total Purchased Power | 3,987 | 6,723 | 5,657 | ||||||||
Total Sources of Energy | 17,473 | 15,783 | 15,399 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 5,378 | 5,659 | 5,829 | ||||||||
Commercial | 4,283 | 4,698 | 4,865 | ||||||||
Industrial | 2,343 | 2,443 | 2,559 | ||||||||
Governmental | 398 | 436 | 438 | ||||||||
Total Retail | 12,402 | 13,236 | 13,691 | ||||||||
Sales for Resale | 4,316 | 1,776 | 1,060 | ||||||||
Unbilled Energy | 58 | (78) | (31) | ||||||||
Total Electric Energy Sales | 16,776 | 14,934 | 14,720 | ||||||||
Line Losses and Company Usage | 696 | 849 | 679 | ||||||||
Total Uses of Energy | 17,472 | 15,783 | 15,399 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 9.73 | 9.93 | 9.93 | ||||||||
Commercial | 9.24 | 9.45 | 9.49 | ||||||||
Industrial | 6.19 | 6.73 | 6.84 | ||||||||
Governmental | 10.54 | 10.16 | 9.99 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2020) | |||||||||||
Residential | 381,617 | 377,158 | 375,730 | ||||||||
Commercial | 65,131 | 64,488 | 64,719 | ||||||||
Industrial | 3,827 | 3,971 | 3,984 | ||||||||
Governmental | 5,146 | 5,130 | 5,169 | ||||||||
Total Retail Customers | 455,721 | 450,747 | 449,602 | ||||||||
Totals may not foot due to rounding. | |||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
OWNED & | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | ||||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | FUEL TYPE | PURPOSE | GENERATION | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY(b) | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Attala | 1 | 100 | % | 2001 | 459 | Gas | Intermediate | 7,092 | 3 | 80 | 828,680 | Dry LNB, SCR | 1,959,455 | 21.4 | 41,966 | ||||||||||||||||||||||||||||||||
Hinds | 1 | 100 | % | 2001 | 454 | Gas | Intermediate | 7,136 | 6 | 104 | 1,242,405 | Dry LNB, SCR | 2,997,910 | 17.9 | 53,516 | ||||||||||||||||||||||||||||||||
Baxter Wilson | 1 | 100 | % | 1967 | 494 | Gas/Oil | Intermediate | 10,417 | 5 | 2,095 | 923,362 | 1,531,173 | 27.5 | 42,103 | |||||||||||||||||||||||||||||||||
Choctaw | 1 | 100 | % | 2003 | 787 | Gas | Intermediate | 6,907 | 11 | 173 | 2,219,357 | Dry LNB, SCR | 5,294,712 | 19.1 | 101,270 | ||||||||||||||||||||||||||||||||
Gerald Andrus | 1 | 100 | % | 1975 | 707 | Gas/Oil | Intermediate | 11,510 | 3 | 1,621 | 684,679 | OFA | 971,881 | 34.0 | 33,015 | ||||||||||||||||||||||||||||||||
Independence | 1 | 25 | % | 1983 | 205 | Coal | Base | 10,761 | 857 | 402 | 484,514 | 4 | LNB w/Sep OFA, ESP, ACI | 378,253 | 38.4 | 27,769 | |||||||||||||||||||||||||||||||
2 | 25 | % | 1984 | 211 | Coal | Base | 935 | 346 | 437,653 | 3 | OFA, ESP, ACI | 345,102 | |||||||||||||||||||||||||||||||||||
DeSoto Solar | 1 | 100 | % | 2015 | 0.5 | Solar | N/A | 481 | 0.2 | — | |||||||||||||||||||||||||||||||||||||
Brookhaven Solar | 1 | 100 | % | 2015 | 0.5 | Solar | N/A | 543 | 0.2 | — | |||||||||||||||||||||||||||||||||||||
Hinds Solar | 1 | 100 | % | 2015 | 0.5 | Solar | N/A | 624 | 0.2 | — | |||||||||||||||||||||||||||||||||||||
Total | 3,319 | 1,822 | 4,819 | 6,820,649 | 7 | 13,480,135 | 22.2 | 299,639 | |||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased 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) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plan and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2, or CO2 control equipment operating on any unit. | |||||||||||||||||||||||||||||||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||||||||||||||||||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY NEW ORLEANS, LLC | |||||||||||
2020 | 2019 | 2018 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 243,502 | 245,081 | 261,585 | ||||||||
Commercial | 179,406 | 202,138 | 217,182 | ||||||||
Industrial | 24,248 | 31,824 | 33,371 | ||||||||
Governmental | 59,819 | 70,865 | 72,057 | ||||||||
Total Retail | 506,975 | 549,908 | 584,195 | ||||||||
Sales for Resale | 33,213 | 38,626 | 29,506 | ||||||||
Other | 20,444 | 5,883 | 11,031 | ||||||||
Total Electric Operating Revenues | 560,632 | 594,417 | 624,732 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 3,060 | 2,975 | 2,735 | ||||||||
Coal | — | — | — | ||||||||
Nuclear | — | — | — | ||||||||
Hydro | — | — | — | ||||||||
Solar | 4 | 3 | 1 | ||||||||
Total Net Generation | 3,064 | 2,978 | 2,736 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 3,801 | 4,401 | 3,912 | ||||||||
Non-affiliated Companies | 671 | 572 | 871 | ||||||||
Total Purchased Power | 4,471 | 4,973 | 4,783 | ||||||||
Total Sources of Energy | 7,535 | 7,951 | 7,519 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 2,294 | 2,353 | 2,401 | ||||||||
Commercial | 1,975 | 2,215 | 2,270 | ||||||||
Industrial | 423 | 438 | 448 | ||||||||
Governmental | 755 | 815 | 795 | ||||||||
Total Retail | 5,447 | 5,821 | 5,914 | ||||||||
Sales for Resale | 1,969 | 1,961 | 1,484 | ||||||||
Unbilled Energy | (9) | 18 | (329) | ||||||||
Total Electric Energy Sales | 7,407 | 7,800 | 7,069 | ||||||||
Line Losses and Company Usage | 127 | 151 | 450 | ||||||||
Total Uses of Energy | 7,535 | 7,951 | 7,519 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 10.61 | 10.42 | 10.89 | ||||||||
Commercial | 9.08 | 9.13 | 9.57 | ||||||||
Industrial | 5.74 | 7.27 | 7.45 | ||||||||
Governmental | 7.93 | 8.70 | 9.06 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2020) | |||||||||||
Residential | 186,299 | 184,399 | 181,633 | ||||||||
Commercial | 17,179 | 17,198 | 16,908 | ||||||||
Industrial | 1,707 | 1,832 | 1,940 | ||||||||
Governmental | 1,940 | 1,915 | 1,889 | ||||||||
Total Retail Customers | 207,125 | 205,344 | 202,370 | ||||||||
Totals may not foot due to rounding. | |||||||||||
On Sept. 1, 2015, E-LA transferred its Algiers assets to E-NO. The effect of the Algiers transfer has been retrospectively applied to E-NO's data presented above. | |||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY NEW ORLEANS, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
OWNED & | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | ||||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | FUEL TYPE | PURPOSE | GENERATION | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY(b) | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Union Power Station | 1 | 100 | % | 2003 | 507 | Gas | Intermediate | 7,245 | 6 | 125 | 1,290,487 | Dry LNB, SCR | 2,991,079 | 17.3 | 51,785 | ||||||||||||||||||||||||||||||||
New Orleans Solar Power Plant (+Battery) | 1 | 100 | % | 2016 | 1 (0.5(c)) | Solar | N/A | 926 | 62.2 | 58 | |||||||||||||||||||||||||||||||||||||
New Orleans Power Station | 1 | 100 | % | 2020 | 131 | Gas | Intermediate | 20,648 | — | 8 | 39,630 | 68,106 | 63.3 | 4,314 | |||||||||||||||||||||||||||||||||
New Orleans Solar Station | 1 | 100 | % | 2020 | 20 | Solar | N/A | ||||||||||||||||||||||||||||||||||||||||
New Orleans Residential Rooftop Solar | 1 | 100 | % | 2020 | 0.5 | Solar | N/A | ||||||||||||||||||||||||||||||||||||||||
New Orleans Commercial Rooftop Solar | 1 | 100 | % | 2020 | 5 | Solar | N/A | 3,426 | |||||||||||||||||||||||||||||||||||||||
Total | 665 | 6 | 133 | 1,330,117 | 3,063,537 | 18.3 | 56,156 | ||||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased 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) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2or CO2 control equipment operating on any unit. | |||||||||||||||||||||||||||||||||||||||||||||||
(c) MW amount equals the capacity rating of the battery. | |||||||||||||||||||||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
SYSTEM ENERGY RESOURCES, INC. | ||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | 495,458 | 573,410 | 456,707 | |||||||||||||||||
SOURCES OF ENERGY (GWh) | ||||||||||||||||||||
Net Generation: | ||||||||||||||||||||
Gas & Oil | — | |||||||||||||||||||
Coal | — | |||||||||||||||||||
Nuclear | 5,820 | 9,928 | 6,223 | |||||||||||||||||
Hydro | — | |||||||||||||||||||
Total Net Generation | 5,820 | 9,928 | 6,223 | |||||||||||||||||
Purchased Power | — | |||||||||||||||||||
Total Sources of Energy | 5,820 | 9,928 | 6,223 | |||||||||||||||||
USES OF ENERGY (GWh) | ||||||||||||||||||||
Electric Energy Sales | 5,849 | 9,940 | 6,264 | |||||||||||||||||
Unbilled Energy | — | |||||||||||||||||||
Line Losses and Company Usage | (29) | (12) | (41) | |||||||||||||||||
Total Uses of Energy | 5,820 | 9,928 | 6,223 | |||||||||||||||||
Totals may not foot due to rounding. |
SYSTEM ENERGY RESOURCES, INC. | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
OWNED & | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | ||||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | FUEL TYPE | PURPOSE | GENERATION(c) | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Grand Gulf | 1 | 90% | 1985 | 1,256 | Nuclear BWR(b) | Base | 10,747 | — | — | — | — | 5,820,039 | 32.1 | 186,691 | |||||||||||||||||||||||||||||||||
Total | 1,256 | 5,820,039 | 32.1 | 186,691 | |||||||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased 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) BWR = Boiling Water Reactor. | |||||||||||||||||||||||||||||||||||||||||||||||
(c) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency | |||||||||||||||||||||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY TEXAS, INC. | |||||||||||
2020 | 2019 | 2018 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 672,087 | 658,453 | 673,858 | ||||||||
Commercial | 364,638 | 343,013 | 380,619 | ||||||||
Industrial | 385,681 | 373,048 | 393,951 | ||||||||
Governmental | 23,445 | 21,464 | 24,953 | ||||||||
Total Retail | 1,445,851 | 1,395,978 | 1,473,381 | ||||||||
Sales for Resale | 100,273 | 59,074 | 97,478 | ||||||||
Other | 41,121 | 33,902 | 35,043 | ||||||||
Total Electric Operating Revenues | 1,587,245 | 1,488,954 | 1,605,902 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 7,027 | 5,441 | 6,188 | ||||||||
Coal | 311 | 821 | 1,345 | ||||||||
Nuclear | — | — | — | ||||||||
Hydro | — | — | — | ||||||||
Total Net Generation | 7,338 | 6,262 | 7,533 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 3,404 | 2,847 | 3,321 | ||||||||
Non-affiliated Companies | 10,977 | 12,242 | 11,242 | ||||||||
Total Purchased Power | 14,381 | 15,089 | 14,563 | ||||||||
Total Sources of Energy | 21,719 | 21,351 | 22,096 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 6,146 | 6,039 | 6,135 | ||||||||
Commercial | 4,386 | 4,667 | 4,747 | ||||||||
Industrial | 7,885 | 8,043 | 8,052 | ||||||||
Governmental | 260 | 259 | 286 | ||||||||
Total Retail | 18,677 | 19,008 | 19,220 | ||||||||
Sales for Resale | 2,013 | 1,815�� | 2,478 | ||||||||
Unbilled Energy | 93 | (31) | (76) | ||||||||
Total Electric Energy Sales | 20,783 | 20,792 | 21,622 | ||||||||
Line Losses and Company Usage | 937 | 559 | 474 | ||||||||
Total Uses of Energy | 21,720 | 21,351 | 22,096 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 10.94 | 10.90 | 10.98 | ||||||||
Commercial | 8.31 | 7.35 | 8.02 | ||||||||
Industrial | 4.89 | 4.64 | 4.89 | ||||||||
Governmental | 9.02 | 8.29 | 8.72 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2020) | |||||||||||
Residential | 414,438 | 403,793 | 397,137 | ||||||||
Commercial | 50,582 | 50,025 | 49,232 | ||||||||
Industrial | 5,681 | 5,481 | 5,757 | ||||||||
Governmental | 2,025 | 2,053 | 2,022 | ||||||||
Total Retail Customers | 472,726 | 461,352 | 454,148 | ||||||||
Totals may not foot due to rounding. | |||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY TEXAS, INC. | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
OWNED & | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | ||||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | FUEL TYPE | PURPOSE | GENERATION | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY(b) | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Roy S. Nelson | 6 | 30% | 1982 | 156 | Coal | Base | 11,675 | 842 | 286 | 351,937 | 2 | LNB w/ Sep OFA, ESP, ACI | 271,246 | 56.9 | 15,431 | ||||||||||||||||||||||||||||||||
Big Cajun 2 | 3 | 18% | 1983 | 99 | Coal | Base | 28,681 | 146 | 29 | 51,999 | — | LNB w/ OFA, ESP, ACI | 39,904 | 188.4 | 7,519 | ||||||||||||||||||||||||||||||||
Lewis Creek | 1 | 100% | 1970 | 250 | Gas/Oil | Intermediate | 10,910 | 3 | 154 | 732,400 | SCR | 2,297,568 | 27.6 | 63,456 | |||||||||||||||||||||||||||||||||
2 | 100% | 1971 | 250 | Gas/Oil | Intermediate | 2 | 133 | 636,102 | SCR | ||||||||||||||||||||||||||||||||||||||
Sabine | 1 | 100% | 1962 | 204 | Gas/Oil | Intermediate | 10,496 | 2 | 566 | 431,868 | 4,728,972 | 27.4 | 129,511 | ||||||||||||||||||||||||||||||||||
3 | 100% | 1966 | 368 | Gas/Oil | Intermediate | 2 | 339 | 538,452 | LNB w/ Sep OFA | ||||||||||||||||||||||||||||||||||||||
4 | 100% | 1974 | 495 | Gas | Intermediate | 4 | 1,108 | 886,574 | IFGR | ||||||||||||||||||||||||||||||||||||||
5 | 100% | 1979 | 437 | Gas/Oil | Intermediate | 5 | 874 | 1,137,865 | LNB w/ Closed-coupled OFA | ||||||||||||||||||||||||||||||||||||||
Total | 2,260 | 1,006 | 3,489 | 4,767,196 | 2 | 7,337,690 | 29.4 | 215,916 | |||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased 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) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2or CO2 control equipment operating on any unit. | |||||||||||||||||||||||||||||||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||||||||||||||||||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||
UTILITY NUCLEAR PLANT STATISTICS | |||||||||||
The following table shows plant performance for 2018 – 2020 based on 18/24 month operating cycle. | |||||||||||
CAPABILITY FACTOR (%) | 2020 | 2019 | 2018 | ||||||||
ANO | 88.7 | 82.9 | 85.3 | ||||||||
Grand Gulf | 71.9 | 76.4 | 62.9 | ||||||||
River Bend | 84.7 | 79.8 | 83.3 | ||||||||
Waterford 3 | 90.2 | 82.4 | 99.6 | ||||||||
Entergy Southeast Average | 84.8 | 80.9 | 83.3 | ||||||||
Industry Average | 93.5 | 93.4 | 93.2 |
The following table shows plant performance for 2020 and average for one three-year period. | ||||||||
PRODUCTION COST ($/MWh) (a) | 2020 | 2017-2019 | ||||||
ANO | 22.1 | 30.3 | ||||||
Grand Gulf | 32.0 | 34.4 | ||||||
River Bend | 28.4 | 32.8 | ||||||
Waterford 3 | 22.6 | 26.9 | ||||||
Entergy Southeast Average | 25.2 | 30.9 | ||||||
(a) Fuel and other operation and maintenance expenses according to accounting standards that directly relate to the production of electricity per MWh; excludes special items. |
INDIVIDUAL PLANT INFORMATION | |||||||||||||||||
ANO | GRAND GULF | RIVER BEND | WATERFORD 3 | ||||||||||||||
UNIT 1 | UNIT 2 | ||||||||||||||||
Owner | Entergy Arkansas | Entergy Arkansas | System Energy - 90% Cooperative Energy - 10% | Entergy Louisiana | Entergy Louisiana | ||||||||||||
Commercial Operation Date | December 74 | March 80 | July 85 | June 86 | September 85 | ||||||||||||
License Expiration Date | 5/20/2034 | 7/17/2038 | 11/1/2044 | 8/29/2045 | 12/18/2044 | ||||||||||||
Architect/Engineer | Bechtel Power | Bechtel Power | Bechtel Power | Stone & Webster | Ebasco | ||||||||||||
Reactor Manufacturer | Babcox & Wilcox | Combustion Engineering | General Electric | General Electric | Combustion Engineering | ||||||||||||
Reactor Type | PWR | PWR | BWR | BWR | PWR | ||||||||||||
Turbine Generator Manufacturer | Westinghouse | General Electric | Kraftwerk Union | General Electric | Westinghouse | ||||||||||||
Owned and Leased Capability (MW)(a) | 833 | 985 | 1,272 | 967 | 1,165 | ||||||||||||
Refueling Data: | |||||||||||||||||
Last Date | 10/5/19 – | 3/14/20 – | 2/22/20 – | 2/21/21 – | 9/26/20 – | ||||||||||||
11/20/2019 | 4/21/2020 | 5/23/2020 | 3/20/2021 | 11/1/2020 | |||||||||||||
Number of Days | 46 | 38 | 91 | 28 | 37 | ||||||||||||
Next Scheduled Refueling | Fall 22 | Fall 21 | Spring 22 | Spring 23 | Spring 22 | ||||||||||||
2019 Capability Factor (%) | 91.3 | 86 | 71.9 | 84.7 | 90.2 | ||||||||||||
($ in millions as of December 31, 2020) | |||||||||||||||||
Net Book Value | 1,789(b) | 1,979 | 1,574(c) | 2,511 | |||||||||||||
Decommissioning Trust Fair Values | 1,274(b) | 1,216 | 1,112(c) | 682 | |||||||||||||
Decommissioning Liability | 1,293(b) | 969 | 697(c) | 847 | |||||||||||||
(a) Owned and Leased 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) ANO Units 1 and 2 are reported together. | |||||||||||||||||
(c) 30% of River Bend is not subject to rate regulation by the Public Utility Commission of Texas, the Louisiana Public Service Commission, nor various municipal authorities, and is included in non-utility property on the balance sheet. The decommissioning trust fund balance and decommissioning liability include amounts for the 30% not subject to rate regulation. |
UTILITY REGULATORY INFORMATION | |||||||||||||||||
STATE REGULATORY COMMISSIONS | |||||||||||||||||
ARKANSAS | LOUISIANA | MISSISSIPPI | NEW ORLEANS | TEXAS | |||||||||||||
Commission | Arkansas Public | Louisiana | Mississippi | New Orleans | Public Utility | ||||||||||||
Service | Public Service | Public Service | City Council | Commission | |||||||||||||
Commission | Commission | Commission | of Texas | ||||||||||||||
Number of Commissioners | 3 | 5 | 3 | 7 | 3 | ||||||||||||
Method of Selection | Appointed by | Elected | Elected | Elected | Appointed by | ||||||||||||
Governor | Governor | ||||||||||||||||
Term of Office | 6 years – | 6 years – | 4 years – | 4 years – | 6 years – | ||||||||||||
staggered | staggered | concurrent | concurrent | staggered | |||||||||||||
(2 term limit) | |||||||||||||||||
Chair/President | Appointed by | Selected by | Rotates every | Rotates annually | Appointed by | ||||||||||||
Governor | peers – 1 year | 1 - 2 years, as | from the | Governor | |||||||||||||
term | determined by members | at-large positions | |||||||||||||||
COMMISSION/COUNCIL MEMBERS | |||||||||||||||||
CURRENT | |||||||||||||||||
PARTY | SERVICE BEGAN | TERM ENDS | |||||||||||||||
ARKANSAS | |||||||||||||||||
Ted J. Thomas – Chairperson | Republican | 1/15 | 1/21 | ||||||||||||||
Kimberly A. O'Guinn | Republican | 1/17 | 1/23 | ||||||||||||||
Justin Tate | Republican | 1/19 | 1/25 | ||||||||||||||
LOUISIANA | |||||||||||||||||
Craig Greene - Chairperson | Republican | 6/17 | 12/24 | ||||||||||||||
Eric Skrmetta - Vice-Chairperson | Republican | 1/09 | 12/26 | ||||||||||||||
Lambert C. Boissiere, III | Democrat | 1/05 | 12/22 | ||||||||||||||
Mike Francis | Republican | 11/16 | 12/22 | ||||||||||||||
Foster L. Campbell, Jr. | Democrat | 1/03 | 12/26 | ||||||||||||||
MISSISSIPPI | |||||||||||||||||
Dane Maxwell – Chairperson | Democrat | 1/20 | 12/23 | ||||||||||||||
Brent Bailey | Republican | 1/20 | 12/23 | ||||||||||||||
Brandon Presley | Democrat | 1/08 | 12/23 | ||||||||||||||
NEW ORLEANS | |||||||||||||||||
Helena Moreno - Chairperson of Utility Committee | Democrat | 5/18 | 5/22 | ||||||||||||||
Jason Rogers Williams | Democrat | 5/14 | 5/22 | ||||||||||||||
Jared Brossett | Democrat | 5/14 | 5/22 | ||||||||||||||
Joseph Giarrusso | Democrat | 5/18 | 5/22 | ||||||||||||||
Jay Banks | Democrat | 5/18 | 5/22 | ||||||||||||||
Kristin Gisleson Palmer | Democrat | 5/18 | 5/22 | ||||||||||||||
Cyndi Nguyen | Democrat | 5/18 | 5/22 | ||||||||||||||
TEXAS | |||||||||||||||||
DeAnn Walker - Chairperson | Republican | 9/17 | 9/21 | ||||||||||||||
Arthur D'Andrea | Republican | 11/17 | 9/23 | ||||||||||||||
Shelly Botkin | Republican | 6/18 | 9/25 | ||||||||||||||
3/27/2020 |
ENTERGY WHOLESALE COMMODITIES | |||||||||||||||||||||||||||||||||||
EWC QUARTERLY FINANCIAL METRICS | |||||||||||||||||||||||||||||||||||
2020 | 2019 | FY | |||||||||||||||||||||||||||||||||
($ millions) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||||||||||||||
As-Reported Earnings | (110) | 85 | 31 | (68) | (63) | 97 | (25) | (141) | 218 | 149 | (212) | ||||||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||||||||||||||
Adjusted EBITDA | 122 | (15) | 24 | 5 | 137 | 92 | 2 | (127) | 20 | (13) | 150 | ||||||||||||||||||||||||
EWC ANNUAL FINANCIAL METRICS | |||||||||||||||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||
As-Reported Earnings | (63) | 149 | (340) | ||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||
Adjusted EBITDA | 137 | (13) | (202) |
EWC QUARTERLY OPERATIONAL METRICS | |||||||||||||||||||||||||||||||||||
2020 | 2019 | FY | |||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | % CHANGE | |||||||||||||||||||||||||
Owned Capacity (MW) (a) | 3,274 | 2,246 | 2,246 | 2,246 | 2,246 | 3,962 | 3,274 | 3,274 | 3,274 | 3,274 | (31) | % | |||||||||||||||||||||||
GWh billed | 6,757 | 4,958 | 4,332 | 4,442 | 20,489 | 7,203 | 7,258 | 6,847 | 6,780 | 28,088 | (27) | % | |||||||||||||||||||||||
EWC Nuclear | |||||||||||||||||||||||||||||||||||
Capacity Factor | 99 | % | 96 | % | 83 | % | 89 | % | 93 | % | 85 | % | 92 | % | 98 | % | 99 | % | 94 | % | (1) | % | |||||||||||||
GWh billed | 6,259 | 4,580 | 3,943 | 4,081 | 18,863 | 6,690 | 6,703 | 6,210 | 6,326 | 25,929 | (27) | % | |||||||||||||||||||||||
Production cost per MWh (b) | $ | 15.42 | $ | 19.45 | $ | 21.85 | $ | 19.87 | $ | 18.58 | $ | 20.04 | $ | 24.82 | $ | 15.68 | $ | 17.71 | $ | 18.29 | 2 | % | |||||||||||||
(a) Pilgrim (688 MW) was shutdown May 31, 2019 and sold on August 26,201, Indian Point 2 (1,028 MW) was shutdown April 30, 2020.. | |||||||||||||||||||||||||||||||||||
(b) Fuel and other O&M expenses according to accounting standards that directly relate to the production of electricity per MWh (based on net generation), excluding special items. | |||||||||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
EWC ANNUAL OPERATIONAL METRICS | |||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||
Owned Capacity (MW) (a) | 2,246 | 3,274 | 3,962 | ||||||||||||||||||||
GWh billed | 20,489 | 28,088 | 30,764 | ||||||||||||||||||||
EWC Nuclear | |||||||||||||||||||||||
Capacity Factor | 93 | % | 93 | % | 83 | % | |||||||||||||||||
GWh billed | 18,863 | 25,929 | 27,617 | ||||||||||||||||||||
Production cost per MWh (b) | $ | 18.58 | $ | 18.29 | $ | 17.68 | |||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||
(a) James A. FitzPatrick Nuclear Station (838 MW) was sold in March 2017; Pilgrim (688 MW) was shutdown May 31, 2019 and sold on August 26, 2019; Indian Point 2 (1,028 MW) was shutdown April 30, 2020. | |||||||||||||||||||||||
(b) Fuel and other O&M expenses according to accounting standards that directly relate to the production of electricity per MWh (based on net generation), excluding special items. |
EWC TOTAL CAPACITY | |||||||||||||||||||||||
OPERATED (a) | OWNED CAPACITY | ||||||||||||||||||||||
As of December 31, 2020 | PLANTS | UNITS | MW | MW | % | ||||||||||||||||||
Gas/Oil | 1 | 1 | 425 | 213 | 9 | ||||||||||||||||||
Coal | — | — | — | 181 | 8 | ||||||||||||||||||
Total Fossil | 1 | 1 | 425 | 394 | 18 | ||||||||||||||||||
Nuclear | 3 | 3 | 2,652 | 1,852 | 82 | ||||||||||||||||||
Total Capacity | 4 | 4 | 3,077 | 2,246 | 100 | ||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||
(a) Operated capacity includes management services contracts and excludes units operated by Entergy’s utility companies. |
ENTERGY WHOLESALE COMMODITIES | |||||||||||
EWC NUCLEAR PLANT STATISTICS | |||||||||||
INDIAN POINT | PALISADES | ||||||||||
ENERGY CENTER | NUCLEAR | ||||||||||
UNIT 2 | UNIT 3 | PLANT | |||||||||
Entergy Purchase Date | 9/6/01 | 11/21/00 | 4/11/07 | ||||||||
Commercial Operation Date | August 74 | August 76 | December 71 | ||||||||
License Expiration Date | 4/30/24 | 4/30/25 | 3/24/31 | ||||||||
Architect/Engineer | United Engineers & Constructors | United Engineers & Constructors | Combustion Engineering | ||||||||
Reactor Manufacturer | Westinghouse | Westinghouse | Combustion Engineering | ||||||||
Reactor Type | PWR | PWR | PWR | ||||||||
Turbine Generator Manufacturer | General Electric | Westinghouse | Westinghouse | ||||||||
Net MWs in Operation (MW) | — | 1041 | 811 | ||||||||
Refueling Data: | |||||||||||
Last Date | 3/19/18 – | 3/11/19 – | 8/31/20 – | ||||||||
4/21/18 | 4/9/19 | 10/21/20 | |||||||||
Number of Days | 33 | 29 | 52 | ||||||||
Upcoming Refueling Outages | |||||||||||
2020 Capacity Factor | 92 | % | 0.99% | 85 | % | ||||||
Net Book Value of Plant and Related Assets (a) | 255 | 75 | |||||||||
($ in millions as of December 31, 2019) | |||||||||||
Capacity Zone (ICAP/UCAP) | NYISO Lower Hudson Valley | NYISO Lower Hudson Valley | MISO | ||||||||
Nearest Market Hub | Zone G (b) | Zone G (b) | Indiana | ||||||||
(a) Entergy's adjusted investment in the companies being sold, with Indian Point as a combined total. | |||||||||||
(b) Indian Point physically located in NYISO Zone H. |
EWC NUCLEAR PLANT ADDITIONAL INFORMATION | |||||||||||||||||
PALISADES | PILGRIM | ||||||||||||||||
INDIAN POINT | NUCLEAR | NUCLEAR | |||||||||||||||
UNIT 1 | UNIT 2 | UNIT 3 | PLANT | STATION | |||||||||||||
Decommissioning Trust Asset | 631 | 794 | 991 | 554 | — | ||||||||||||
Decommissioning Liability | 247 | 840 | 869 | 635 (a) | — | ||||||||||||
($ in millions as of December 31, 2020) | |||||||||||||||||
Planned closing date | n/a (b) | n/a (d) | 4/30/21 | 5/31/2022 | n/a (c) | ||||||||||||
(a) Includes $41 million for Big Rock Point. | |||||||||||||||||
(b) Indian Point 1 has been shut down and in safe storage since the 1970s. | |||||||||||||||||
(c) Pilgrim was shutdown May 31, 2019 and sold on August 26,2019. | |||||||||||||||||
(d) Indian Point 2 was shutdown April 30, 2020. |
EWC NON-NUCLEAR WHOLESALE ASSETS PLANT STATISTICS | ||||||||||||||||||||
NERC | COMMERCIAL | OWNERSHIP | NET | TOTAL | FUEL TYPE | |||||||||||||||
PLANT | REGION | OPERATION | INTEREST | MW | MW | TECHNOLOGY | ||||||||||||||
Independence – Unit 2 | SERC | 1983 | 14% | 121 | 842 | Coal | ||||||||||||||
Nelson 6 | SERC | 1982 | 11% | 60 | 550 | Coal | ||||||||||||||
RS Cogen | SERC | 2002 | 50% | 213 | 425 | CCGT Cogen | ||||||||||||||
Total | 394 | 1,817 |
EWC NON-NUCLEAR WHOLESALE ASSETS PLANT EMISSIONS | ||||||||||||||||||||
Emissions | ||||||||||||||||||||
PLANT | PURPOSE | SO2 (tons) | NOx (tons) | Co2 (tons) | Hg (lbs) | TECHNOLOGY (a) | ||||||||||||||
Independence – Unit 2 | Base | 538 | 199 | 251,563 | 2 | LNB w/Sep OFA, ESP, ACI | ||||||||||||||
Nelson 6 | Base | 308 | 105 | 128,945 | 1 | LNB w Sep OFA, ESP, ACI | ||||||||||||||
RS Cogen | Base | 4 | 361 | 761,212 | — | Dry LNB/SCR | ||||||||||||||
(a) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Overfire Air (OFA), Electrostatic Precipitator (ESP), Activated Carbon Injection (ACI), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Dry Low NOx Burners (Dry LNB), and Selective Catalytic Reduction (SCR) or Steam Injection. | ||||||||||||||||||||
Currently have no SO2 or CO2 control equipment operating on any unit. | ||||||||||||||||||||
Totals may not foot due to rounding. |
EWC NON-NUCLEAR WHOLESALE ASSETS | |||||||||||||||||||||||
EWC NON-NUCLEAR WHOLESALE ASSETS SECURITIES DETAIL | |||||||||||||||||||||||
DEBT: | |||||||||||||||||||||||
OUTSTANDING AS OF DECEMBER 31, | |||||||||||||||||||||||
ENTERGY’S SHARE | |||||||||||||||||||||||
($ millions) | 2020 | 2019 | MATURITY | RATE | |||||||||||||||||||
RS Cogen Senior Project Debt | |||||||||||||||||||||||
Bank Portion(a) | $— | $— | 10/17/2018 | LIBOR + 2.25% | |||||||||||||||||||
Institutional Portion | $17 | $26 | 10/15/2022 | Fixed 8.73% | |||||||||||||||||||
RS Cogen Subordinated Debt(b) | $— | $28 | 10/17/2017 | LIBOR + 4.50% | |||||||||||||||||||
(a) RS Cogen spread on bank portion increases over time from 1.375% to 2.375%. | |||||||||||||||||||||||
(b) Debt outstanding includes Entergy's portion of accrued but unpaid interest on Entergy's portion of the RS Cogen subordinated debt since the project went into default on the subordinated credit facility in 2008. |
VERMONT YANKEE CREDIT FACILITY | ||||||||||||||||||||
OUTSTANDING AS OF DECEMBER 31, | RATE | 2020 | 2019 | |||||||||||||||||
2.46 | % | $139 | $139 | |||||||||||||||||
SHARES OUTSTANDING | ||||||||||||||||||||
PREFERRED STOCK: | AS OF DECEMBER 31, | AS OF DECEMBER 31, | ||||||||||||||||||
($ millions) | RATE | 2020 | 2019 | 2020 | 2019 | |||||||||||||||
Without Sinking Fund: | ||||||||||||||||||||
Entergy Finance Holding, Inc. | 8.75%(a) | 250,000 | 250,000 | $ | 24 | $ | 24 | |||||||||||||
Authorized 250,000 shares, $100 par value, cumulative | ||||||||||||||||||||
Total without sinking fund | 250,000 | 250,000 | $ | 24 | $ | 24 | ||||||||||||||
(a) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. |
DEFINITIONS OF OPERATIONAL MEASURES AND GAAP AND NON-GAAP FINANCIAL MEASURES | |||||
OPERATIONAL MEASURES | |||||
Owned capacity (MW) | Installed capacity owned by EWC | ||||
Production cost per MWh | Fuel and other O&M expenses according to accounting standards that directly relate to the production of | ||||
electricity per MWh (based on net generation) | |||||
Billed electric energy sales (GWh billed) | Total number of GWh billed to customers and financially-settled instruments | ||||
Capability factor | The percentage of the maximum energy generation a plant is capable of supplying to the grid, limited | ||||
only by factors within control of plant management; a high capability factor indicates effective plant | |||||
programs and practices to minimize unplanned energy losses and to optimize planned outages | |||||
Capacity factor | Normalized percentage of the period that the nuclear plants generate power | ||||
Refueling outage days | Number of days lost for a scheduled refueling and maintenance outage during the period | ||||
Financial measures defined below include measures prepared in accordance with generally accepted accounting principles (GAAP), as well as non-GAAP measures. | |||||
Non-GAAP measures are included in this report in order to provide metrics that remove the effect of less routine financial impacts from commonly used financial metrics. | |||||
FINANCIAL MEASURES – GAAP | |||||
Return on average invested capital (ROIC) – as-reported | 12-months rolling net income attributable to Entergy Corporation or subsidiary adjusted for preferred | ||||
dividends and tax-effected interest expense divided by average invested capital | |||||
Return on average common equity (ROE) – as-reported | 12-months rolling net income attributable to Entergy Corporation or subsidiary divided by average common equity | ||||
Return on average member's equity – as-reported | 12-months rolling attributable to Entergy Corporation or subsidiary divided by average member's equity | ||||
Common dividend payout – as-reported | Common dividend paid per share divided by earnings per share | ||||
Revolver capacity | Amount of undrawn capacity remaining on corporate and subsidiary revolvers | ||||
Total debt | Sum of short-term and long-term debt, notes payable and commercial paper, and capital leases on the balance sheet | ||||
Debt of joint ventures – Entergy’s share | Entergy's share of debt issued by business joint ventures at EWC | ||||
Leases - Entergy’s share | Operating leases held by subsidiaries capitalized at implicit interest rate | ||||
Debt to capital | Total debt divided by total capitalization | ||||
Securitization debt | Debt on the balance sheet associated with securitization bonds that is secured by certain future customer collections | ||||
FINANCIAL MEASURES – NON-GAAP | |||||
Adjusted earnings | As-reported net income attributable to Entergy Corporation or subsidiary excluding adjustments | ||||
Adjusted EBITDA | Earnings before interest, income taxes, depreciation and amortization, excluding interest and investment income and decommissioning | ||||
expense for EWC | |||||
Adjusted EPS | As-reported net income attributable to Entergy Corporation or subsidiary excluding adjustments, divided by the diluted average | ||||
number of common shares outstanding | |||||
Adjustments | Unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business | ||||
of Entergy, such as the results of the EWC segment, significant tax items, and other items such as certain costs, expenses, | |||||
or other specified items | |||||
Common dividend payout – adjusted | Common dividend paid per share divided by adjusted earnings per share | ||||
Return on average invested capital (ROIC) – adjusted | 12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary adjusted for preferred dividends and tax- | ||||
effected interest expense divided by average invested capital | |||||
Return on average common equity (ROE) – adjusted | 12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary divided by average common equity | ||||
Return on average member's equity – adjusted | 12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary divided by average member's equity | ||||
Gross liquidity | Sum of cash and available revolver capacity | ||||
Total debt, excluding securitization debt | Total debt, excluding securitization debt | ||||
Debt to capital, excluding securitization debt | Total debt divided by total capitalization, excluding securitization debt | ||||
Net debt to net capital, excluding securitization debt | Total debt less cash and cash equivalents divided by total capitalization less cash and cash equivalents, | ||||
excluding securitization debt | |||||
Net liquidity | Sum of cash and available revolver capacity less commercial paper borrowing | ||||
Net Liquidity, including storm escrows | Sum of cash, available revolver capacity, and escrow accounts available for certain storm expenses, less commercial paper borrowing | ||||
Parent debt to total debt, excluding securitization debt | End of period Entergy Corporation debt, including amounts drawn on credit revolver and commercial paper facilities, as a | ||||
percent of consolidated total debt, excluding securitization debt | |||||
FFO | OCF less AFUDC-borrowed funds, working capital items in OCF (receivables, fuel inventory, accounts payable, taxes accrued, | ||||
interest accrued, and other working capital accounts), and securitization regulatory charges | |||||
FFO to debt, excluding securitization debt | 12-months rolling adjusted FFO as a percentage of end of period total debt excluding securitization debt | ||||
FFO to debt, excluding securitization debt, return of unprotected | 12-months rolling adjusted FFO excluding return of unprotected excess ADIT and severance and retention payments | ||||
excess ADIT, and severance and retention payments associated | associated with exit of EWC as a percentage of end of period total debt excluding securitization debt | ||||
with exit of EWC |
REG G RECONCILIATIONS | |||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
As-reported net income (loss) attributable to Entergy Corporation (A) | 1,388 | 1,241 | 849 | ||||||||
Preferred dividends | 18 | 17 | 14 | ||||||||
Tax-effected interest expense | 586 | 554 | 527 | ||||||||
As-reported net income (loss) attributable to Entergy Corporation | |||||||||||
adjusted for preferred dividends and tax-effected interest expense (B) | 1,992 | 1,812 | 1,390 | ||||||||
Adjustments (C) | 250 | 177 | (121) | ||||||||
EWC preferred dividends and tax-effected interest expense, rolling 12 months | 20 | 25 | 29 | ||||||||
Total adjustments, adding back EWC preferred dividends and | |||||||||||
tax-effected interest expense (non-GAAP) (D) | 270 | 202 | (92) | ||||||||
Adjusted earnings, (non-GAAP) (A-C) | 1,138 | 1,064 | 970 | ||||||||
Adjusted earnings, including preferred dividends and | |||||||||||
tax-effected interest expense (non-GAAP) (B-D) | 1,722 | 1,610 | 1,482 | ||||||||
Average invested capital (E) | 32,803 | 28,780 | 26,032 | ||||||||
Average common equity (F) | 10,575 | 9,534 | 8,418 | ||||||||
($ per share) | |||||||||||
As-reported earnings per share (N) | 6.90 | 6.30 | 4.63 | ||||||||
Adjusted earnings per share (O) | 5.66 | 5.40 | 5.29 | ||||||||
Common dividend paid per share (P) | 3.74 | 3.66 | 3.58 | ||||||||
(%) | |||||||||||
ROIC – As-reported (B/E) | 6.1 | 6.3 | 5.3 | ||||||||
ROIC – Adjusted (non-GAAP) ((B-D)/E) | 5.3 | 5.6 | 5.7 | ||||||||
ROE – As-reported (A/F) | 13.1 | 13.0 | 10.1 | ||||||||
ROE – Adjusted (non-GAAP) ((A-C)/F) | 10.8 | 11.2 | 11.5 | ||||||||
Common dividend payout – As-reported % (P/N) | 54 | 58 | 77 | ||||||||
Common dividend payout – Adjusted % (P/O) | 66 | 68 | 68 | ||||||||
Calculations may differ due to rounding. |
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q19-4Q20 | ||||||||||||||||||||||||||
($ millions) | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | ||||||||||||||||||
As-reported net income (loss) attributable to Entergy Corporation, rolling 12 | 1,105 | 1,230 | 1,385 | 1,388 | 970 | 961 | 790 | 1,241 | ||||||||||||||||||
months (A) | ||||||||||||||||||||||||||
Preferred dividends | 17 | 18 | 18 | 18 | 15 | 15 | 16 | 17 | ||||||||||||||||||
Tax-effected interest expense | 559 | 574 | 582 | 586 | 539 | 543 | 548 | 554 | ||||||||||||||||||
As-reported net income (loss) attributable to Entergy Corporation, rolling 12 | ||||||||||||||||||||||||||
months adjusted for preferred dividends and tax-effected interest expense (B) | 1,681 | 1,822 | 1,985 | 1,992 | 1,524 | 1,519 | 1,354 | 1,812 | ||||||||||||||||||
Adjustments, rolling 12 months (C) | (31) | 80 | 252 | 250 | (6) | (18) | (264) | 177 | ||||||||||||||||||
EWC preferred dividends and tax-effected interest expense, rolling 12 months | 22 | 21 | 20 | 20 | 30 | 30 | 27 | 25 | ||||||||||||||||||
Total adjustments, adding back EWC preferred dividends and | ||||||||||||||||||||||||||
tax-effected interest expense (non-GAAP) (D) | (9) | 101 | 272 | 270 | 24 | 12 | (237) | 202 | ||||||||||||||||||
Adjusted earnings, rolling 12 months (non-GAAP) (A-C) | 1,136 | 1,150 | 1,134 | 1,138 | 976 | 979 | 1,054 | 1,064 | ||||||||||||||||||
Adjusted earnings, rolling 12 months including preferred dividends and | ||||||||||||||||||||||||||
tax-effected interest expense (non-GAAP) (B-D) | 1,690 | 1,720 | 1,713 | 1,722 | 1,501 | 1,507 | 1,591 | 1,610 | ||||||||||||||||||
Average invested capital (E) | 30,229 | 30,622 | 31,442 | 32,803 | 27,184 | 27,586 | 28,413 | 28,780 | ||||||||||||||||||
Average common equity (F) | 9,597 | 10,112 | 10,403 | 10,575 | 8,473 | 8,910 | 9,224 | 9,534 | ||||||||||||||||||
(%) | ||||||||||||||||||||||||||
ROIC – As-reported (B/E) | 5.6 | 5.9 | 6.3 | 6.1 | 5.6 | 5.5 | 4.8 | 6.3 | ||||||||||||||||||
ROIC – Adjusted (non-GAAP) ((B-D)/E) | 5.6 | 5.6 | 5.4 | 5.3 | 5.5 | 5.5 | 5.6 | 5.6 | ||||||||||||||||||
ROE – As-reported (A/F) | 11.5 | 12.2 | 13.3 | 13.1 | 11.4 | 10.8 | 8.6 | 13.0 | ||||||||||||||||||
ROE – Adjusted (non-GAAP) ((A-C)/F) | 11.8 | 11.4 | 10.9 | 10.8 | 11.5 | 11.0 | 11.4 | 11.2 | ||||||||||||||||||
Calculations may differ due to rounding. | ||||||||||||||||||||||||||
REG G RECONCILIATIONS | |||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
Total debt (A) | 24,062 | 19,885 | 18,133 | ||||||||
Less securitization debt (B) | 175 | 298 | 424 | ||||||||
Total debt, excluding securitization debt (A-B) | 23,887 | 19,587 | 17,709 | ||||||||
Less cash and cash equivalents (C) | 1,759 | 426 | 481 | ||||||||
Net debt, excluding securitization debt (A-B-C) | 22,128 | 19,161 | 17,228 | ||||||||
Total capitalization (D) | 35,243 | 30,363 | 27,196 | ||||||||
Less securitization debt (E) | 175 | 298 | 424 | ||||||||
Total capitalization, excluding securitization debt (D-E) | 35,068 | 30,065 | 26,772 | ||||||||
Less cash and cash equivalents (F) | 1,759 | 426 | 481 | ||||||||
Net capitalization, excluding securitization debt (D-E-F) | 33,309 | 29,639 | 26,291 | ||||||||
(%) | |||||||||||
Debt to capital (A/D) | 68.3 | 65.5 | 66.7 | ||||||||
Debt to capital, excluding securitization debt ((A-B)/D-E)) | 68.1 | 65.1 | 66.1 | ||||||||
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F)) | 66.4 | 64.6 | 65.5 | ||||||||
Revolver capacity (G) | 4,110 | 3,810 | 4,056 | ||||||||
Storm escrows (L) | 116 | 412 | 403 | ||||||||
Gross liquidity (C+G) | 5,869 | 4,236 | 4,537 | ||||||||
Net liquidity (C+G-J) | 4,241 | 2,289 | 2,595 | ||||||||
Net liquidity, including storm escrows (C+G-J+L) | 4,357 | 2,701 | 2,998 | ||||||||
Entergy Corporation notes: | |||||||||||
Due September 2020 | — | 450 | 450 | ||||||||
Due July 2022 | 650 | 650 | 650 | ||||||||
Due September 2025 | 800 | — | — | ||||||||
Due September 2026 | 750 | 750 | 750 | ||||||||
Due June 2030 | 600 | — | — | ||||||||
Due June 2050 | 600 | — | — | ||||||||
Total parent long-term debt (H) | 3,400 | 1,850 | 1,850 | ||||||||
Revolver draw (I) | 165 | 440 | 220 | ||||||||
Commercial paper (J) | 1,627 | 1,947 | 1,942 | ||||||||
Unamortized debt issuance and discounts (K) | (38) | (8) | (10) | ||||||||
Total parent debt (H)+(I)+(J)+(K) | 5,154 | 4,229 | 4,002 | ||||||||
Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B) | 21.6 | 21.6 | 22.6 | ||||||||
Calculations may differ due to rounding. |
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q19-4Q20 | ||||||||||||||||||||||||||
($ millions) | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | ||||||||||||||||||
Total debt (A) | 21,465 | 21,493 | 22,127 | 24,062 | 19,325 | 19,054 | 19,441 | 19,885 | ||||||||||||||||||
Less securitization debt (B) | 271 | 232 | 209 | 175 | 398 | 360 | 338 | 298 | ||||||||||||||||||
Total debt, excluding securitization debt (A-B) | 21,193 | 21,261 | 21,918 | 23,887 | 18,927 | 18,694 | 19,103 | 19,587 | ||||||||||||||||||
Less cash and cash equivalents (C) | 1,464 | 935 | 1,240 | 1,759 | 983 | 636 | 956 | 426 | ||||||||||||||||||
Net debt, excluding securitization debt (A-B-C) | 19,730 | 20,326 | 20,678 | 22,128 | 17,944 | 18,058 | 18,147 | 19,161 | ||||||||||||||||||
Total capitalization (D) | 31,943 | 32,173 | 33,153 | 35,243 | 28,515 | 29,071 | 29,730 | 30,363 | ||||||||||||||||||
Less securitization debt (E) | 271 | 232 | 209 | 175 | 398 | 360 | 338 | 298 | ||||||||||||||||||
Total capitalization, excluding securitization debt (D-E) | 31,672 | 31,941 | 32,944 | 35,068 | 28,117 | 28,711 | 29,392 | 30,065 | ||||||||||||||||||
Less cash and cash equivalents (F) | 1,464 | 935 | 1,240 | 1,759 | 983 | 636 | 956 | 426 | ||||||||||||||||||
Net capitalization, excluding securitization debt (D-E-F) | 30,208 | 31,006 | 31,704 | 33,309 | 27,134 | 28,075 | 28,436 | 29,639 | ||||||||||||||||||
(%) | ||||||||||||||||||||||||||
Debt to capital (A/D) | 67.2 | 66.8 | 66.7 | 68.3 | 67.8 | 65.5 | 65.4 | 65.5 | ||||||||||||||||||
Debt to capital, excluding securitization debt ((A-B)/D-E)) | 66.9 | 66.6 | 66.5 | 68.1 | 67.3 | 65.1 | 65.0 | 65.1 | ||||||||||||||||||
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F)) | 65.3 | 65.6 | 65.2 | 66.4 | 66.1 | 64.3 | 63.8 | 64.6 | ||||||||||||||||||
Revolver capacity (G) | 3,348 | 4,110 | 4,125 | 4,110 | 3,950 | 4,120 | 4,115 | 3,810 | ||||||||||||||||||
Storm escrows (L) | 373 | 373 | 373 | 116 | 405 | 407 | 410 | 412 | ||||||||||||||||||
Gross liquidity (C+G) | 4,811 | 5,045 | 5,364 | 5,869 | 4,933 | 4,756 | 5,071 | 4,236 | ||||||||||||||||||
Net liquidity (C+G-J) | 2,870 | 3,099 | 3,966 | 4,241 | 2,991 | 3,121 | 3,153 | 2,289 | ||||||||||||||||||
Net liquidity, including storm escrows (C+G-J+L) | 3,242 | 3,472 | 4,339 | 4,357 | 3,396 | 3,528 | 3,563 | 2,701 | ||||||||||||||||||
Entergy Corporation notes: | ||||||||||||||||||||||||||
Due September 2020 | 450 | — | — | — | 450 | 450 | 450 | 450 | ||||||||||||||||||
Due July 2022 | 650 | 650 | 650 | 650 | 650 | 650 | 650 | 650 | ||||||||||||||||||
Due September 2025 | — | — | 800 | 800 | — | — | — | — | ||||||||||||||||||
Due September 2026 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | ||||||||||||||||||
Due June 2030 | — | 600 | 600 | 600 | — | — | — | — | ||||||||||||||||||
Due June 2050 | — | 600 | 600 | 600 | — | — | — | — | ||||||||||||||||||
Total parent long-term debt (H) | 1,850 | 2,600 | 3,400 | 3,400 | 1,850 | 1,850 | 1,850 | 1,850 | ||||||||||||||||||
Revolver draw (I) | 922 | 160 | 150 | 165 | 320 | 150 | 155 | 440 | ||||||||||||||||||
Commercial paper (J) | 1,942 | 1,946 | 1,398 | 1,627 | 1,942 | 1,635 | 1,918 | 1,947 | ||||||||||||||||||
Unamortized debt issuance and discounts (K) | (8) | (32) | (40) | (38) | (9) | (9) | (10) | (8) | ||||||||||||||||||
Total parent debt (H)+(I)+(J)+(K) | 4,706 | 4,675 | 4,909 | 5,154 | 4,103 | 3,626 | 3,913 | 4,229 | ||||||||||||||||||
Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B) | 22.2 | 22.0 | 22.4 | 21.6 | 21.7 | 19.4 | 20.5 | 21.6 | ||||||||||||||||||
Calculations may differ due to rounding. | ||||||||||||||||||||||||||
REG G RECONCILIATIONS | |||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
Total debt (A) | 24,062 | 19,885 | 18,133 | ||||||||
Less securitization debt (B) | 175 | 298 | 424 | ||||||||
Total debt, excluding securitization debt (C) | 23,887 | 19,587 | 17,709 | ||||||||
Net cash flow provided by operating activities, rolling 12 months (D) | 2,690 | 2,817 | 2,385 | ||||||||
Allowance for borrowed funds used during construction, rolling 12 months (E) | (52) | (65) | (61) | ||||||||
Working capital items in net cash flow provided by operating activities, rolling 12 months: | |||||||||||
Receivables | (139) | (101) | 99 | ||||||||
Fuel inventory | (27) | (28) | 46 | ||||||||
Accounts payable | 137 | (72) | 97 | ||||||||
Taxes accrued | 208 | (21) | 39 | ||||||||
Interest accrued | 8 | 1 | 5 | ||||||||
Other working capital accounts | (143) | (3) | (164) | ||||||||
Securitization regulatory charges | 124 | 122 | 124 | ||||||||
Total (F) | 168 | (102) | 246 | ||||||||
FFO, rolling 12 months (G) = (D)+(E)-(F) | 2,470 | 2,854 | 2,078 | ||||||||
FFO to debt, excluding securitization debt (G)/(C) | 10.3 | % | 14.6 | % | 11.7 | % | |||||
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H) | 70 | 301 | 592 | ||||||||
Severance and retention payments associated with exit of EWC (rolling 12 months pre-tax) (I) | 55 | 141 | 43 | ||||||||
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC [(G+H+I)/(C)] | 10.9 | % | 16.8 | % | 15.3 | % | |||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q19-4Q20 | ||||||||||||||||||||||||||
($ millions) | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | ||||||||||||||||||
Total debt (A) | 21,465 | 21,493 | 22,127 | 24,062 | 19,325 | 19,054 | 19,441 | 19,885 | ||||||||||||||||||
Less securitization debt (B) | 271 | 232 | 209 | 175 | 398 | 360 | 338 | 298 | ||||||||||||||||||
Total debt, excluding securitization debt (C) | 21,193 | 21,261 | 21,918 | 23,887 | 18,927 | 18,694 | 19,103 | 19,587 | ||||||||||||||||||
Net cash flow provided by operating activities, rolling 12 months (D) | 2,974 | 3,212 | 3,069 | 2,690 | 2,329 | 2,358 | 2,644 | 2,817 | ||||||||||||||||||
Allowance for borrowed funds used during construction, rolling 12 months (E) | (63) | (58) | (55) | (52) | (65) | (67) | (67) | (65) | ||||||||||||||||||
Working capital items in net cash flow provided by operating activities, rolling 12 months: | ||||||||||||||||||||||||||
Receivables | (71) | (5) | (71) | (139) | 7 | 17 | 21 | (101) | ||||||||||||||||||
Fuel inventory | (39) | (35) | (14) | (27) | 58 | 24 | (18) | (28) | ||||||||||||||||||
Accounts payable | (136) | (92) | 277 | 137 | 103 | (19) | (158) | (72) | ||||||||||||||||||
Prepaid taxes and taxes accrued | (21) | 62 | 188 | 208 | 51 | 9 | (7) | (21) | ||||||||||||||||||
Interest accrued | 17 | 5 | 14 | 8 | (5) | 7 | 12 | 1 | ||||||||||||||||||
Other working capital accounts | 17 | (15) | (98) | (143) | (178) | (81) | (97) | (3) | ||||||||||||||||||
Securitization regulatory charges | 122 | 123 | 125 | 124 | 121 | 121 | 120 | 122 | ||||||||||||||||||
Total (F) | (111) | 43 | 421 | 168 | 157 | 78 | (127) | (102) | ||||||||||||||||||
FFO, rolling 12 months (G) = (D)+(E)-(F) | 3,023 | 3,110 | 2,594 | 2,470 | 2,107 | 2,213 | 2,704 | 2,854 | ||||||||||||||||||
FFO to debt, excluding securitization debt (G)/(C) | 14.3 | % | 14.6 | % | 11.8 | % | 10.3 | % | 11.1 | % | 11.8 | % | 14.2 | % | 14.6 | % | ||||||||||
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H) | 236 | 189 | 119 | 70 | 692 | 651 | 469 | 301 | ||||||||||||||||||
Severance and retention payments associated with exit of EWC (rolling 12 months pre-tax) (I) | 141 | 102 | 17 | 55 | 43 | 97 | 183 | 141 | ||||||||||||||||||
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC [(G+H+I)/(C)] | 16.0 | % | 16.0 | % | 12.5 | % | 10.9 | % | 15.0 | % | 15.8 | % | 17.6 | % | 16.8 | % | ||||||||||
Calculations may differ due to rounding. | ||||||||||||||||||||||||||
REG G RECONCILIATIONS | |||||||||||
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
As-reported net income (loss) applicable to common stock/equity (A) | 1,800 | 1,411 | 1,483 | ||||||||
Preferred dividends | 16 | 15 | 12 | ||||||||
Tax-effected interest expense | 483 | 439 | 412 | ||||||||
As-reported net income (loss) applicable to common stock/equity adjusted for | |||||||||||
preferred dividends and tax-effected interest expense (B) | 2,299 | 1,865 | 1,907 | ||||||||
Utility adjustments | |||||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | (25) | — | — | ||||||||
Income tax effect on Utility adjustment above | 6 | — | — | ||||||||
2014 / 2015 IRS settlement – E-LA business combination | 396 | — | — | ||||||||
Regulatory-sharing | — | — | (40) | ||||||||
Income tax effect on Utility adjustments above | — | — | 10 | ||||||||
2012/2013 IRS audit settlement | — | — | 44 | ||||||||
Internal restructuring | — | — | 170 | ||||||||
Tax reform | — | — | 38 | ||||||||
Reversal of valuation allowance on internal restructuring | — | 41 | — | ||||||||
Total adjustments (C) | 377 | 41 | 223 | ||||||||
Adjusted earnings adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B-C) | 1,922 | 1,824 | 1,684 | ||||||||
Adjusted earnings (A-C) | 1,423 | 1,370 | 1,261 | ||||||||
Average invested capital (D) | 32,411 | 28,186 | 25,487 | ||||||||
Average common stock or member's equity (E) | 15,038 | 13,219 | 11,778 | ||||||||
Gross debt (F) | 18,769 | 15,517 | 13,991 | ||||||||
Less securitization debt (G) | 175 | 298 | 424 | ||||||||
Gross debt, excluding securitization debt (F-G) | 18,594 | 15,219 | 13,567 | ||||||||
Less cash and cash equivalents (H) | 1,526 | 202 | 260 | ||||||||
Net debt, excluding securitization debt (F-G-H) | 17,068 | 15,018 | 13,307 | ||||||||
Total capitalization (I) | 35,192 | 29,631 | 26,740 | ||||||||
Less securitization debt (J) | 175 | 298 | 424 | ||||||||
Total capitalization, excluding securitization debt (I-J) | 35,017 | 29,333 | 26,317 | ||||||||
Less cash and cash equivalents (K) | 1,526 | 202 | 260 | ||||||||
Net capitalization, excluding securitization debt (I-J-K) | 33,491 | 29,131 | 26,057 | ||||||||
(%) | |||||||||||
ROIC – As-Reported (B/D) | 7.1 | 6.6 | 7.5 | ||||||||
ROIC – Adjusted ((B-C)/D) | 5.9 | 6.5 | 6.6 | ||||||||
ROE – As-Reported (A/E) | 12.0 | 10.7 | 12.6 | ||||||||
ROE – Adjusted ((A-C)/E) | 9.5 | 10.4 | 10.7 | ||||||||
Debt to capital (F/I) | 53.3 | 52.4 | 52.3 | ||||||||
Debt to capital, excluding securitization debt ((F-G)/(I-J)) | 53.1 | 51.9 | 51.6 | ||||||||
Net debt to net capital, excluding securitization debt ((F-G-H)/(I-J-K)) | 51.0 | 51.6 | 51.1 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q19-4Q20 | ||||||||||||||||||||||||||
($ millions) | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | ||||||||||||||||||
As-reported net income (loss) (A) | 320 | 345 | 552 | 584 | 231 | 331 | 578 | 271 | ||||||||||||||||||
Less adjustments (B) | — | — | — | 378 | — | — | — | 41 | ||||||||||||||||||
Adjusted net income (loss) (A-B) | 320 | 345 | 552 | 206 | 231 | 331 | 578 | 230 | ||||||||||||||||||
As-reported net income (loss) applicable to common stock/equity-rolling 12 months (C) | 1,500 | 1,514 | 1,487 | 1,800 | 1,499 | 1,455 | 1,528 | 1,411 | ||||||||||||||||||
Preferred dividends | 15 | 16 | 16 | 16 | 12 | 13 | 14 | 15 | ||||||||||||||||||
Tax-effected interest expense | 448 | 464 | 475 | 483 | 416 | 421 | 428 | 439 | ||||||||||||||||||
As-Reported net income (loss) applicable to common stock/equity, rolling | ||||||||||||||||||||||||||
12 months adjusted for preferred dividends and tax-effected | 1,963 | 1,994 | 1,978 | 2,299 | 1,927 | 1,888 | 1,970 | 1,865 | ||||||||||||||||||
interest expense (D) | ||||||||||||||||||||||||||
Adjustments in prior quarters | 41 | 41 | 41 | — | 223 | 179 | 179 | — | ||||||||||||||||||
Adjustments in current quarter | — | — | — | 377 | — | — | — | 41 | ||||||||||||||||||
Total adjustments (E) | 41 | 41 | 41 | 377 | 223 | 179 | 179 | 41 | ||||||||||||||||||
Adjusted earnings, rolling 12 months adjusted for preferred | ||||||||||||||||||||||||||
dividends and tax-effected interest expense (D-E) | 1,922 | 1,953 | 1,936 | 1,922 | 1,705 | 1,709 | 1,791 | 1,824 | ||||||||||||||||||
Adjusted earnings, rolling 12 months (C-E) | 1,459 | 1,472 | 1,446 | 1,423 | 1,276 | 1,276 | 1,349 | 1,370 | ||||||||||||||||||
Average invested capital (F) | 29,608 | 29,877 | 30,730 | 32,411 | 26,617 | 26,903 | 27,728 | 28,186 | ||||||||||||||||||
Average common stock or member's equity (G) | 13,544 | 13,703 | 14,284 | 15,038 | 11,920 | 12,297 | 12,864 | 13,219 | ||||||||||||||||||
Gross debt (H) | 16,620 | 16,679 | 17,079 | 18,769 | 15,083 | 15,244 | 15,387 | 15,517 | ||||||||||||||||||
Less securitization debt (I) | 271 | 232 | 209 | 175 | 398 | 360 | 338 | 298 | ||||||||||||||||||
Gross debt, excluding securitization debt (H-I) | 16,348 | 16,446 | 16,870 | 18,594 | 14,685 | 14,883 | 15,049 | 15,219 | ||||||||||||||||||
Less cash and cash equivalents (J) | 998 | 671 | 972 | 1,526 | 733 | 337 | 667 | 202 | ||||||||||||||||||
Net debt, excluding securitization debt (H-I-J) | 15,350 | 15,775 | 15,898 | 17,068 | 13,952 | 14,546 | 14,382 | 15,018 | ||||||||||||||||||
Total capitalization (K) | 31,230 | 31,516 | 32,439 | 35,192 | 27,986 | 28,238 | 29,056 | 29,631 | ||||||||||||||||||
Less securitization debt (L) | 271 | 232 | 209 | 175 | 398 | 360 | 338 | 298 | ||||||||||||||||||
Total capitalization, excluding securitization debt (K-L) | 30,959 | 31,284 | 32,230 | 35,017 | 27,588 | 27,878 | 28,717 | 29,333 | ||||||||||||||||||
Less cash and cash equivalents (M) | 998 | 671 | 972 | 1,526 | 733 | 337 | 667 | 202 | ||||||||||||||||||
Net capitalization, excluding securitization debt (K-L-M) | 29,961 | 30,612 | 31,258 | 33,491 | 26,855 | 27,540 | 28,050 | 29,131 | ||||||||||||||||||
(%) | ||||||||||||||||||||||||||
ROIC – As-Reported (D/F) | 6.6 | 6.7 | 6.4 | 7.1 | 7.2 | 7.0 | 7.1 | 6.6 | ||||||||||||||||||
ROIC – Adjusted ((D-E)/F) | 6.5 | 6.5 | 6.3 | 5.9 | 6.4 | 6.4 | 6.5 | 6.5 | ||||||||||||||||||
ROE – As-Reported (C/G) | 11.1 | 11.0 | 10.4 | 12.0 | 12.6 | 11.8 | 11.9 | 10.7 | ||||||||||||||||||
ROE – Adjusted ((C-E)/G) | 10.8 | 10.7 | 10.1 | 9.5 | 10.7 | 10.4 | 10.5 | 10.4 | ||||||||||||||||||
Debt to capital ratio (H/K) | 53.2 | 52.9 | 52.6 | 53.3 | 53.9 | 54.0 | 53.0 | 52.4 | ||||||||||||||||||
Debt to capital, excluding securitization debt ((H-I)/(K-L)) | 52.8 | 52.6 | 52.3 | 53.1 | 53.2 | 53.4 | 52.4 | 51.9 | ||||||||||||||||||
Net debt to net capital, excluding securitization debt ((H-I-J)/(K-L-M)) | 51.2 | 51.5 | 50.9 | 51.0 | 52.0 | 52.8 | 51.3 | 51.6 | ||||||||||||||||||
Calculations may differ due to rounding. | ||||||||||||||||||||||||||
REG G RECONCILIATIONS | |||||||||||
ENTERGY ARKANSAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
As-reported earnings applicable to common stock (A) | 245 | 263 | 252 | ||||||||
Preferred dividends | — | — | 1 | ||||||||
Tax-effected interest expense | 102 | 99 | 86 | ||||||||
As-reported earnings applicable to common stock adjusted for | |||||||||||
preferred dividends and tax-effected interest expense (B) | 347 | 362 | 339 | ||||||||
Adjustments | |||||||||||
2012/2013 IRS audit settlement | — | — | (2) | ||||||||
2014/2015 IRS audit settlement | 6 | — | — | ||||||||
Total adjustments (C) | 6 | — | (2) | ||||||||
Adjusted earnings adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B-C) | 341 | 362 | 341 | ||||||||
Adjusted earnings (A-C) | 239 | 263 | 254 | ||||||||
Average invested capital (D) | 6,955 | 6,432 | 5,810 | ||||||||
Average invested capital, excluding securitization (E) | 6,952 | 6,418 | 5,782 | ||||||||
Average member's equity (F) | 3,201 | 3,055 | 2,680 | ||||||||
Gross debt (G) | 3,980 | 3,528 | 3,226 | ||||||||
Less securitization debt (H) | — | 7 | 21 | ||||||||
Gross debt, excluding securitization debt (G-H) | 3,980 | 3,522 | 3,205 | ||||||||
Less cash and cash equivalents (I) | 192 | 3 | — | ||||||||
Net debt, excluding securitization debt (G-H-I) | 3,788 | 3,518 | 3,205 | ||||||||
Total capitalization (J) | 7,256 | 6,654 | 6,209 | ||||||||
Less securitization debt (K) | — | 7 | 21 | ||||||||
Total capitalization, excluding securitization debt (J-K) | 7,256 | 6,647 | 6,188 | ||||||||
Less cash and cash equivalents (L) | 192 | 3 | — | ||||||||
Net capitalization, excluding securitization debt (J-K-L) | 7,064 | 6,644 | 6,188 | ||||||||
(%) | |||||||||||
ROIC – As-Reported (B/D) | 5 | 5.6 | 5.8 | ||||||||
ROIC – Adjusted ((B-C)/E) | 4.9 | 5.6 | 5.9 | ||||||||
Return on average member's equity – As-Reported (A/F) | 7.7 | 8.6 | 9.4 | ||||||||
Return on average member's equity – Adjusted ((A-C)/F) | 7.5 | 8.6 | 9.5 | ||||||||
Debt to capital (G/J) | 54.8 | 53.0 | 52.0 | ||||||||
Debt to capital, excluding securitization debt ((G-H)/(J-K)) | 54.8 | 53.0 | 51.8 | ||||||||
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L)) | 53.6 | 53.0 | 51.8 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | |||||||||||
ENTERGY LOUISIANA FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
As-reported net income (A) | 1,082 | 692 | 676 | ||||||||
Preferred dividends | — | — | — | ||||||||
Tax-effected interest expense | 231 | 203 | 184 | ||||||||
As-reported net income adjusted for preferred dividends and | |||||||||||
tax-effected interest expense (B) | 1,313 | 894 | 860 | ||||||||
Adjustments | |||||||||||
2012/2013 IRS audit settlement | — | — | 50 | ||||||||
2014/2015 IRS audit settlement | 383 | — | — | ||||||||
Total Adjustments (C) | 383 | — | 50 | ||||||||
Adjusted earnings adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B-C) | 930 | 894 | 810 | ||||||||
Adjusted earnings (A-C) | 699 | 692 | 626 | ||||||||
Average invested capital (D) | 15,110 | 13,213 | 12,103 | ||||||||
Average invested capital, excluding securitization (E) | 15,088 | 13,169 | 12,036 | ||||||||
Average common equity (F) | 6,927 | 6,150 | 5,606 | ||||||||
Gross debt (G) | 9,044 | 7,321 | 6,806 | ||||||||
Less securitization debt (H) | 10 | 33 | 56 | ||||||||
Gross debt, excluding securitization debt (G-H) | 9,034 | 7,288 | 6,750 | ||||||||
Less cash and cash equivalents (I) | 728 | 2 | 43 | ||||||||
Net debt, excluding securitization debt (G-H-I) | 8,306 | 7,286 | 6,707 | ||||||||
Total capitalization (J) | 16,501 | 13,718 | 12,709 | ||||||||
Less securitization debt (K) | 10 | 33 | 56 | ||||||||
Total capitalization, excluding securitization debt (J-K) | 16,491 | 13,685 | 12,653 | ||||||||
Less cash and cash equivalents (L) | 728 | 2 | 43 | ||||||||
Net capitalization, excluding securitization debt (J-K-L) | 15,763 | 13,683 | 12,610 | ||||||||
(%) | |||||||||||
ROIC – As-Reported (B/D) | 8.7 | 6.8 | 7.1 | ||||||||
ROIC – Adjusted ((B-C)/E) | 6.2 | 6.8 | 6.7 | ||||||||
Return on average member's equity – As-Reported (A/F) | 15.6 | 11.3 | 12.1 | ||||||||
Return on average member's equity – Adjusted ((A-C)/F) | 10.1 | 11.3 | 11.2 | ||||||||
Debt to capital (G/J) | 54.8 | 53.4 | 53.6 | ||||||||
Debt to capital ratio, excluding securitization debt ((G-H)/(J-K)) | 54.8 | 53.3 | 53.3 | ||||||||
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L)) | 52.7 | 53.2 | 53.2 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | |||||||||||
ENTERGY MISSISSIPPI FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
As-reported earnings applicable to common stock (A) | 141 | 120 | 125 | ||||||||
Preferred dividends | — | — | 1 | ||||||||
Tax-effected interest expense | 50 | 44 | 39 | ||||||||
As-reported earnings applicable to common stock adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B) | 190 | 164 | 165 | ||||||||
Adjustments | |||||||||||
2012/2013 IRS audit settlement | — | — | (1) | ||||||||
2014/2015 IRS audit settlement | 4 | — | — | ||||||||
Total Adjustments (C) | 4 | — | (1) | ||||||||
Adjusted earnings adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B-C) | 186 | 164 | 166 | ||||||||
Adjusted earnings (A-C) | 137 | 120 | 126 | ||||||||
Average invested capital (D) | 3,312 | 2,891 | 2,543 | ||||||||
Average member's equity (E) | 1,607 | 1,417 | 1,235 | ||||||||
Gross debt (F) | 1,788 | 1,621 | 1,326 | ||||||||
Less cash and cash equivalents (G) | — | 52 | 37 | ||||||||
Net debt (F-G) | 1,788 | 1,569 | 1,289 | ||||||||
Total capitalization (H) | 3,461 | 3,163 | 2,618 | ||||||||
Less cash and cash equivalents (I) | — | 52 | 37 | ||||||||
Net capitalization (H-I) | 3,461 | 3,111 | 2,581 | ||||||||
(%) | |||||||||||
ROIC – As-Reported (B/D) | 5.7 | 5.7 | 6.5 | ||||||||
ROIC – Adjusted ((B-C)/D) | 5.6 | 5.7 | 6.5 | ||||||||
Return on average member's equity – As-Reported (A/E) | 8.7 | 8.5 | 10.1 | ||||||||
Return on average member's equity – Adjusted ((A-C)/E) | 8.5 | 8.5 | 10.2 | ||||||||
Debt to capital (F/H) | 51.7 | 51.2 | 50.6 | ||||||||
Net debt to net capital ((F-G)/(H-I)) | 51.7 | 50.4 | 49.9 | ||||||||
Calculations may differ due to rounding. | |||||||||||
ENTERGY NEW ORLEANS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
As-reported earnings applicable to common stock (A) | 49.0 | 53.0 | 53.0 | ||||||||
Preferred dividends | — | — | — | ||||||||
Tax-effected interest expense | 19.0 | 15.0 | 15.0 | ||||||||
As-reported earnings applicable to common stock adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B) | 69.0 | 68.0 | 68.0 | ||||||||
Adjustments | |||||||||||
2014/2015 IRS audit settlement | (1.0) | — | — | ||||||||
Total Adjustments (C) | (1.0) | — | — | ||||||||
Adjusted earnings adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B-C) | 70 | 68 | 68 | ||||||||
Adjusted earnings (A-C) | 50 | 53 | 53 | ||||||||
Average invested capital (D) | 1,157 | 995 | 891 | ||||||||
Average invested capital, excluding securitization (E) | 1,110 | 937 | 822 | ||||||||
Average member's equity (F) | 552 | 471 | 430 | ||||||||
Gross debt (G) | 646 | 564 | 484 | ||||||||
Less securitization debt (H) | 41 | 53 | 64 | ||||||||
Gross debt, excluding securitization debt (G-H) | 604 | 511 | 420 | ||||||||
Less cash and cash equivalents (I) | — | 6 | 20 | ||||||||
Net debt, excluding securitization debt (G-H-I) | 604 | 505 | 400 | ||||||||
Total capitalization (J) | 1,253 | 1,062 | 929 | ||||||||
Less securitization debt (K) | 41 | 53 | 64 | ||||||||
Total capitalization, excluding securitization debt (J-K) | 1,211 | 1,009 | 865 | ||||||||
Less cash and cash equivalents (L) | — | 6 | 20 | ||||||||
Net capitalization, excluding securitization debt (J-K-L) | 1,211 | 1,003 | 845 | ||||||||
(%) | |||||||||||
ROIC – As-Reported (B/D) | 5.9 | 6.8 | 7.6 | ||||||||
ROIC – Adjusted ((B-C)/E) | 6.3 | 7.2 | 8.2 | ||||||||
Return on average member's equity – As-Reported (A/F) | 8.9 | 11.3 | 12.4 | ||||||||
Return on average member's equity – Adjusted ((A-C)/F) | 9.1 | 11.3 | 12.4 | ||||||||
Debt to capital (G/J) | 51.5 | 53.1 | 52.1 | ||||||||
Debt to capital, excluding securitization debt ((G-H)/(J-K)) | 49.9 | 50.7 | 48.6 | ||||||||
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L)) | 49.9 | 50.4 | 47.4 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | |||||||||||
ENTERGY TEXAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
As-reported earnings applicable to common stock (A) | 213 | 159 | 162 | ||||||||
Preferred dividends | 2 | 1 | — | ||||||||
Tax-effected interest expense | 58 | 58 | 65 | ||||||||
As-reported earnings applicable to common stock adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B) | 274 | 217 | 227 | ||||||||
Adjustments | |||||||||||
Tax reform | — | — | 38 | ||||||||
2012/2013 IRS audit settlement | — | — | (1) | ||||||||
2014/2015 IRS audit settlement | 2 | — | — | ||||||||
Total Adjustments (C) | 2 | — | 37 | ||||||||
Adjusted earnings adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B-C) | 272 | 217 | 189 | ||||||||
Adjusted earnings (A-C) | 211 | 159 | 125 | ||||||||
Average invested capital (D) | 4,192 | 3,332 | 2,892 | ||||||||
Average invested capital, excluding securitization debt (E) | 4,028 | 3,087 | 2,571 | ||||||||
Average common equity (F) | 1,943 | 1,593 | 1,341 | ||||||||
Gross debt (G) | 2,499 | 1,928 | 1,514 | ||||||||
Less securitization debt (H) | 123 | 205 | 284 | ||||||||
Gross debt, excluding securitization debt (G-H) | 2,376 | 1,723 | 1,230 | ||||||||
Less cash and cash equivalents (I) | 249 | 13 | — | ||||||||
Net debt, excluding securitization debt (G-H-I) | 2,127 | 1,710 | 1,230 | ||||||||
Total capitalization (J) | 4,657 | 3,728 | 2,936 | ||||||||
Less securitization debt (K) | 123 | 205 | 284 | ||||||||
Total capitalization, excluding securitization debt (J-K) | 4,534 | 3,522 | 2,652 | ||||||||
Less cash and cash equivalents (L) | 249 | 13 | — | ||||||||
Net capitalization, excluding securitization debt (J-K-L) | 4,285 | 3,509 | 2,652 | ||||||||
(%) | |||||||||||
ROIC – As-Reported (B/D) | 6.5 | 6.5 | 7.8 | ||||||||
ROIC – Adjusted ((B-C)/E) | 6.7 | 7.0 | 7.4 | ||||||||
ROE – As-Reported (A/F) | 11.0 | 10.0 | 12.1 | ||||||||
ROE – Adjusted ((A-C)/F) | 10.9 | 10.0 | 9.3 | ||||||||
Debt to capital (G/J) | 53.7 | 51.7 | 51.6 | ||||||||
Debt to capital, excluding securitization debt ((G-H)/(J-K)) | 52.4 | 48.9 | 46.4 | ||||||||
Net debt to net capital, excluding securitization debt ((G-H-I)/(J-K-L)) | 49.7 | 48.7 | 46.4 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | |||||||||||
SYSTEM ENERGY RESOURCES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
As-reported net income (A) | 99 | 99 | 94 | ||||||||
Preferred dividends | — | — | — | ||||||||
Tax-effected interest expense | 25 | 25 | 27 | ||||||||
As-reported net income adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B) | 124 | 124 | 121 | ||||||||
Adjustments | |||||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | (19) | — | — | ||||||||
2014/2015 IRS audit settlement | 3 | — | — | ||||||||
Total Adjustments (C) | (16) | — | — | ||||||||
Adjusted earnings adjusted for preferred | |||||||||||
dividends and tax-effected interest expense (B-C) | 140 | 124 | 121 | ||||||||
Adjusted earnings (A-C) | 115 | 99 | 94 | ||||||||
Average invested capital (D) | 1,573 | 1,314 | 1,324 | ||||||||
Average common equity (E) | 896 | 725 | 724 | ||||||||
Gross debt (F) | 805 | 548 | 631 | ||||||||
Less cash and cash equivalents (G) | 242 | 69 | 96 | ||||||||
Net debt (F-G) | 563 | 479 | 535 | ||||||||
Total capitalization (H) | 1,886 | 1,260 | 1,368 | ||||||||
Less cash and cash equivalents (I) | 242 | 69 | 96 | ||||||||
Net capitalization (H-I) | 1,644 | 1,191 | 1,272 | ||||||||
(%) | |||||||||||
ROIC – As-Reported (B/D) | 7.9 | 9.4 | 9.2 | ||||||||
ROIC – Adjusted ((B-C)/D) | 8.9 | 9.4 | 9.2 | ||||||||
ROE – As-Reported (A/E) | 11.1 | 13.7 | 13.0 | ||||||||
ROE – Adjusted ((A-C)/E) | 12.8 | 13.7 | 13.0 | ||||||||
Debt to capital (F/H) | 42.7 | 43.5 | 46.1 | ||||||||
Net debt to net capital ((F-G)/(H-I)) | 34.2 | 40.2 | 42.1 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | |||||||||||
ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2018-2020 | |||||||||||
($ millions) | 2020 | 2019 | 2018 | ||||||||
As-reported net income (loss) attributable to Entergy Corporation | (65) | 147 | (343) | ||||||||
Net income (loss) | (63) | 149 | (341) | ||||||||
Add back: interest expense | 22 | 29 | 34 | ||||||||
Add back: income taxes | 105 | (161) | (269) | ||||||||
Add back: depreciation and amortization | 102 | 148 | 150 | ||||||||
Subtract: interest and investment income | 234 | 415 | 15 | ||||||||
Add back: decommissioning expense | 205 | 237 | 239 | ||||||||
Adjusted EBITDA | 137 | (13) | (202) | ||||||||
Calculations may differ due to rounding. |
ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q19-4Q20 | ||||||||||||||||||||||||||
($ millions) | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | ||||||||||||||||||
As-reported net income (loss) attributable to Entergy Corporation | (111) | 85 | 30 | (69) | 97 | (26) | (141) | 217 | ||||||||||||||||||
Net income (loss) | (110) | 85 | 31 | (68) | 97 | (25) | (141) | 218 | ||||||||||||||||||
Add back: interest expense | 5 | 7 | 5 | 5 | 9 | 9 | 6 | 5 | ||||||||||||||||||
Add back: income taxes | (31) | 24 | 12 | 99 | 66 | (9) | (31) | (187) | ||||||||||||||||||
Add back: depreciation and amortization | 35 | 25 | 21 | 21 | 38 | 38 | 38 | 34 | ||||||||||||||||||
Subtract: interest and investment income | (172) | 207 | 95 | 104 | 181 | 75 | 59 | 99 | ||||||||||||||||||
Add back: decommissioning expense | 50 | 51 | 51 | 53 | 63 | 64 | 60 | 49 | ||||||||||||||||||
Adjusted EBITDA | 122 | (15) | 24 | 5 | 92 | 2 | (127) | 20 | ||||||||||||||||||
Calculations may differ due to rounding. | ||||||||||||||||||||||||||
ENTERGY CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||
INVESTOR NEWS | COMMON STOCK INFORMATION | |||||||||||||||||||
Visit our investor relations website at www.entergy.com/investor_relations for | The company’s common stock is listed on the New York and Chicago | |||||||||||||||||||
earnings reports, financial releases, SEC filings and other investor information. | exchanges under the symbol “ETR” (CUSIP 29364G103). The Entergy | |||||||||||||||||||
share price is reported daily in the financial press under “Entergy” in | ||||||||||||||||||||
INVESTOR RELATIONS | most listings of New York Stock Exchange securities. Entergy common | |||||||||||||||||||
Securities analysts, portfolio managers, and other members of the financial | stock is a component of the following indices: S&P 500, S&P Utilities | |||||||||||||||||||
community may contact: | Index, Philadelphia Utility Index and the NYSE Composite Index, | |||||||||||||||||||
William Abler | among others. | |||||||||||||||||||
Vice President, Investor Relations | ||||||||||||||||||||
Telephone: 281-297-5436 | As of Feb. 1, 2021, there were 201,061,356 shares of Entergy | |||||||||||||||||||
E–mail: wabler@entergy.com | common stock outstanding. Shareholders of record totaled | |||||||||||||||||||
22,815, and approximately 285,318 investors held Entergy stock in | ||||||||||||||||||||
SHAREHOLDER ACCOUNT INFORMATION | “street name” through a broker. | |||||||||||||||||||
EQ Shareowner Services is Entergy’s transfer agent, | ||||||||||||||||||||
registrar, dividend disbursing agent, and dividend reinvestment | CERTIFICATIONS | |||||||||||||||||||
and stock purchase plan agent. Shareholders of record with | In June 2020, Entergy’s Chief Executive Officer certified to the | |||||||||||||||||||
questions about lost certificates, lost or missing dividend checks | New York Stock Exchange that he was not aware of any violation | |||||||||||||||||||
or notifications of change of address should contact: | of the NYSE corporate governance listing standards. Also, Entergy | |||||||||||||||||||
EQ Shareowner Services | filed certifications regarding the quality of the company’s public | |||||||||||||||||||
P.O. Box 64874 | disclosure, required by Section 302 of the Sarbanes-Oxley Act of | |||||||||||||||||||
St. Paul, MN 55164-0874 | 2002, as exhibits to our Annual Report on Form 10-K for the fiscal year | |||||||||||||||||||
Phone: 1-855-854-1360 | ended Dec. 31, 2020. | |||||||||||||||||||
Internet: www.shareowneronline.com | ||||||||||||||||||||
DIVIDEND PAYMENTS | ||||||||||||||||||||
CORPORATE GOVERNANCE | The Board of Directors declares dividends quarterly and sets the record and | |||||||||||||||||||
Entergy’s Corporate Governance Guidelines, Board Committee Charters | payment dates. Subject to Board discretion, those dates for 2021 are: | |||||||||||||||||||
for the Audit, Corporate Governance, and Personnel Committees, Entergy's | PAYMENT | |||||||||||||||||||
Code of Entegrity and other ethics policies may be accessed electronically | DECLARATION DATE | RECORD DATE | DATE | |||||||||||||||||
by selecting the investor information page on Entergy’s corporate | January 29 | February 14 | March 1 | |||||||||||||||||
website at entergy.com. | April 12 | May 7 | June 1 | |||||||||||||||||
July 30 | August 13 | September 1 | ||||||||||||||||||
ADDITIONAL INFORMATION | October 29 | November 12 | December 1 | |||||||||||||||||
For copies of the above Corporate Governance documents, Entergy’s | ||||||||||||||||||||
10-K and 10-Q reports filed with the Securities and Exchange | Quarterly dividend payments (in cents-per-share): | |||||||||||||||||||
Commission, or for other investor information, email lnance@entergy.com. | ||||||||||||||||||||
QUARTER | 2020 | 2019 | 2018 | |||||||||||||||||
1 | 93 | 91 | 89 | |||||||||||||||||
2 | 93 | 91 | 89 | |||||||||||||||||
3 | 93 | 91 | 89 | |||||||||||||||||
4 | 95 | 93 | 91 | |||||||||||||||||