ENTERGY STATISTICAL REPORT | ||
AND INVESTOR GUIDE | ||
2021 |
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, a Fortune 500 company headquartered in New Orleans, powers life for 3 million customers across Arkansas, Louisiana, Mississippi and Texas. Entergy is creating a cleaner, more resilient energy future for everyone with our diverse power generation portfolio, including increasingly carbon-free energy sources. With roots in the Gulf South region for more than a century, Entergy is a recognized leader in corporate citizenship, delivering more than $100 million in economic benefits to local communities through philanthropy and advocacy efforts annually over the last several years. Our approximately 12,500 employees are dedicated to powering life today and for future generations. | ||
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 2021 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 | ● effects of climate change, including the potential for increases in extreme weather events | |||||||
This publication is unaudited and should be used in conjunction with Entergy’s 2021 | and sea levels or coastal land and wetland loss; | |||||||
Annual Report to Shareholders and Form 10-K filed with the Securities and Exchange | ● the risk that an incident at any nuclear generation facility in the U.S. could lead to the | |||||||
Commission. It has been prepared for information purposes and is not intended for use | assessment of significant retrospective assessments and/or retrospective insurance | |||||||
in connection with any sale or purchase of, or any offer to buy, any securities of Entergy | premiums as a result of Entergy’s participation in a secondary financial protection system | |||||||
Corporation or its subsidiaries. | and a utility industry mutual insurance company; | |||||||
● changes in the quality and availability of water supplies and the related regulation of | ||||||||
FORWARD-LOOKING INFORMATION | water use and diversion; | |||||||
In this report and from time to time, Entergy Corporation makes statements concerning | ● Entergy’s ability to manage its capital projects, including completion of projects timely | |||||||
its expectations, beliefs, plans, objectives, goals, projections, strategies, and future | and within budget and to obtain the anticipated performance or other benefits, and its | |||||||
events or performance. Such statements are “forward-looking statements” within the | operation and maintenance costs; | |||||||
meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” | ● the effects of supply chain disruptions, including those driven by the COVID-19 global | |||||||
“will,” “could,” “project,” “believe,” “anticipate,” “intend,” “expect,” “estimate,” “continue,” | pandemic or by trade-related governmental actions, on Entergy’s ability to complete its | |||||||
“potential,” “plan,” “predict,” “forecast,” and other similar words or expressions are | capital projects in a timely and cost-effective manner; | |||||||
intended to identify forward-looking statements but are not the only means to identify | ● Entergy’s ability to purchase and sell assets at attractive prices and on other attractive | |||||||
these statements. Although Entergy believes that these forward-looking statements and | terms; | |||||||
the underlying assumptions are reasonable, it cannot provide assurance that they will | ● the economic climate, and particularly economic conditions in Entergy’s Utility service | |||||||
prove correct. Any forward-looking statement is based on information current as of the | area and events and circumstances that could influence economic conditions in those areas, | |||||||
date of this report and speaks only as of the date on which such statement is made. | including power prices and inflation, and the risk that anticipated load growth may not | |||||||
Except to the extent required by the federal securities laws, Entergy undertakes no | materialize; | |||||||
obligation to publicly update or revise any forward-looking statements, whether as a | ● changes to federal income tax laws and regulations, including the continued impact of the | |||||||
result of new information, future events, or otherwise. | Tax Cuts and Jobs Act and its intended and unintended consequences on financial | |||||||
Forward-looking statements involve a number of risks and uncertainties. There are | results and future cash flows; | |||||||
factors that could cause actual results to differ materially from those expressed or | ● the effects of Entergy’s strategies to reduce tax payments; | |||||||
implied in the forward-looking statements, including (a) those factors discussed or | ● changes in the financial markets and regulatory requirements for the issuance of | |||||||
incorporated by reference in Item 1A. Risk Factors contained in the Form 10-K for | securities, particularly as they affect access to capital and Entergy’s ability to refinance | |||||||
the year ended Dec. 31, 2021, (b) those factors discussed or incorporated by reference | existing securities, and fund investments and acquisitions; | |||||||
in Management’s Financial Discussion and Analysis contained in the Form 10-K for the | ● actions of rating agencies, including changes in the ratings of debt and preferred | |||||||
year ended Dec. 31, 2021, and (c) the following factors (in addition to others described | stock, changes in general corporate ratings, and changes in the rating agencies’ ratings | |||||||
elsewhere in this report and in subsequent securities filings): | criteria; | |||||||
● resolution of pending and future rate cases and related litigation, formula rate | ● changes in inflation and interest rates; | |||||||
proceedings and related negotiations, including various performance-based rate | ● the effects of litigation and government investigations or proceedings; | |||||||
discussions, Entergy’s utility supply plan, and recovery of fuel and purchased power costs, | ● changes in technology, including (i) Entergy’s ability to implement new or emerging | |||||||
as well as delays in cost recovery resulting from these proceedings; | technologies, (ii) the impact of changes relating to new, developing, or alternative | |||||||
● regulatory and operating challenges and uncertainties and economic risks associated | sources of generation such as distributed energy and energy storage, renewable energy, | |||||||
with the Utility operating companies’ participation in MISO, including the benefits of | energy efficiency, demand side management and other measures that reduce load and | |||||||
continued MISO participation, the effect of current or projected MISO market rules and | government policies incentivizing development of the foregoing, and (iii) competition from | |||||||
market and system conditions in the MISO markets, the allocation of MISO system | other companies offering products and services to Entergy’s customers based on new or | |||||||
transmission upgrade costs, the MISO-wide base rate of return on equity allowed or | emerging technologies or alternative sources of generation; | |||||||
any MISO-related charges and credits required by the FERC, and the effect of planning | ● Entergy's ability to effectively formulate and implement plans to reduce its carbon | |||||||
decisions that MISO makes with respect to future transmission investments by the | emission rate and aggregate carbon emissions, including its commitment to achieve | |||||||
Utility operating companies; | net-zero carbon emissions by 2050, and the potential impact on its business of | |||||||
● changes in utility regulation, including with respect to retail and wholesale competition, | attempting to achieve such objectives; | |||||||
the ability to recover net utility assets and other potential stranded costs, and the | ● the effects, including increased security costs, of threatened or actual terrorism, | |||||||
application of more stringent return on equity criteria, transmission reliability | cyber-attacks or data security breaches, natural or man-made electromagnetic pulses | |||||||
requirements or market power criteria by the FERC or the U.S. Department of Justice; | that affect transmission or generation infrastructure, accidents, and war or a catastrophic | |||||||
● changes in the regulation or regulatory oversight of Entergy’s owned or operated nuclear | event such as a nuclear accident or a natural gas pipeline explosion; | |||||||
generating facilities and nuclear materials and fuel, and the effects of new or | ● the effects of a global or geopolitical event or pandemic, such as the COVID-19 global | |||||||
existing safety or environmental concerns regarding nuclear power plants and fuel; | pandemic and the military activities between Russia and Ukraine, including economic and | |||||||
● resolution of pending or future applications, and related regulatory proceedings and | societal disruptions; volatility in the capital markets (and any related increased cost of | |||||||
litigation, for license modifications or other authorizations required of nuclear generating | capital or any inability to access the capital markets or draw on available bank credit | |||||||
facilities and the effect of public and political opposition on these applications, regulatory | facilities); reduced demand for electricity, particularly from commercial and industrial | |||||||
proceedings, and litigation; | customers; increased or unrecoverable costs; supply chain, vendor, and contractor | |||||||
● the performance of and deliverability of power from Entergy’s generation resources, | disruptions; delays in completion of capital or other construction projects, maintenance, and | |||||||
including the capacity factors at Entergy’s nuclear generating facilities; | other operations activities, including prolonged or delayed outages; impacts to Entergy’s | |||||||
● increases in costs and capital expenditures that could result from changing regulatory | workforce availability, health, or safety; increased cybersecurity risks as a result of many | |||||||
requirements, changing economic conditions, and emerging operating and industry issues, | employees telecommuting; increased late or uncollectible customer payments; regulatory | |||||||
and the risks related to recovery of these costs and capital expenditures from Entergy’s | delays; executive orders affecting, or increased regulation of, Entergy's business; changes | |||||||
customers (especially in an increasing cost environment); | in credit ratings or outlooks as a result of any of the foregoing; or other adverse impacts on | |||||||
● the commitment of substantial human and capital resources required for the safe and | Entergy’s ability to execute on its business strategies and initiatives or, more generally, on | |||||||
reliable operation and maintenance of Entergy’s nuclear generating facilities; | Entergy’s results of operations, financial condition, and liquidity; | |||||||
● Entergy’s ability to develop and execute on a point of view regarding future prices of | ● Entergy’s ability to attract and retain talented management, directors, and employees | |||||||
electricity, natural gas, and other energy-related commodities; | with specialized skills; | |||||||
● the prices and availability of fuel and power Entergy must purchase for its Utility | ● Entergy’s ability to attract, retain and manage an appropriately qualified workforce; | |||||||
customers, and Entergy’s ability to meet credit support requirements for fuel and power | ● changes in accounting standards and corporate governance; | |||||||
supply contracts; | ● declines in the market prices of marketable securities and resulting funding | |||||||
● volatility and changes in markets for electricity, natural gas, uranium, emissions | requirements and the effects on benefits costs for Entergy’s defined benefit pension | |||||||
allowances, and other energy-related commodities, and the effect of those changes on | and other postretirement benefit plans; | |||||||
Entergy and its customers; | ● future wage and employee benefit costs, including changes in discount rates and | |||||||
● changes in law resulting from federal or state energy legislation or legislation | returns on benefit plan assets; | |||||||
subjecting energy derivatives used in hedging and risk management transactions to | ● changes in decommissioning trust fund values or earnings or in the timing of, | |||||||
governmental regulation; | requirements for, or cost to decommission Entergy’s nuclear plant sites and the |
● changes in environmental laws and regulations, agency positions or associated | implementation of decommissioning of such sites following shutdown; | |||||||
litigation, including requirements for reduced emissions of sulfur dioxide, nitrogen oxide, | ● the effectiveness of Entergy’s risk management policies and procedures and the | |||||||
greenhouse gases, mercury, particulate matter and other regulated air emissions, heat | ability and willingness of its counterparties to satisfy their financial and performance | |||||||
and other regulated discharges to water, requirements for waste management and | commitments; and | |||||||
disposal and for the remediation of contaminated sites, wetlands protection and | ● Entergy and its subsidiaries' ability to successfully execute on their business | |||||||
permitting, and changes in costs of compliance with environmental laws and regulations; | strategies, including their ability to complete strategic transactions that they may | |||||||
● changes in laws and regulations, agency positions, or associated litigation related to | undertake. | |||||||
protected species and associated critical habitat designations; | ||||||||
● the effects of changes in federal, state, or local laws and regulations, and other | REGULATION G COMPLIANCE | |||||||
governmental actions or policies, including changes in monetary, fiscal, tax, | Financial performance measures shown in this report include those calculated and | |||||||
environmental, trade/tariff, domestic purchase requirements, or energy policies and | presented in accordance with generally accepted accounting principles (GAAP), as well | |||||||
related laws, regulations, and other governmental actions; | as those that are considered non-GAAP measures. This report includes non-GAAP | |||||||
● the effects of full or partial shutdowns of the federal government or delays in obtaining | measures of adjusted earnings; adjusted EPS; adjustments; adjusted EBITDA; adjusted | |||||||
government or regulatory actions or decisions; | common dividend payout ratio; adjusted ROE; gross liquidity; adjusted return on average | |||||||
● uncertainty regarding the establishment of interim or permanent sites for spent nuclear | member's equity; adjusted net revenue; adjusted non-fuel O&M; total debt, excluding | |||||||
fuel and nuclear waste storage and disposal and the level of spent fuel and nuclear | securitization debt; debt to capital, excluding securitization debt; net debt to net capital, | |||||||
waste disposal fees charged by the U.S. government or other providers related to such | excluding securitization debt; parent debt to total debt, excluding securitization debt; FFO; | |||||||
sites; | FFO to debt, excluding securitization debt; FFO to debt excluding securitization debt, return | |||||||
● variations in weather and the occurrence of hurricanes and other storms and disasters, | of unprotected excess ADIT, and severance, and retention payments associated with exit | |||||||
including uncertainties associated with efforts to remediate the effects of hurricanes | of EWC. We have prepared reconciliations of these measures to the most directly | |||||||
(including from Hurricane Laura, Hurricane Delta, Hurricane Zeta, and Hurricane Ida), ice | comparable GAAP measures. Reconciliations can be found on pages 7, 10, and 53 – 66. | |||||||
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 | ||||||||
STAKEHOLDER OBJECTIVES | ||||||||
Entergy's Mission: We exist to operate 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 understand their needs and exceed their expectations while keeping rates affordable. | ||||||||
● 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-quartile social responsibility performance. We are active in economic development, philanthropy, volunteerism, and advocacy, and we operate our business safely, resiliently, 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. | ||||||||
ENTERGY BY THE NUMBERS | ||||||||
GAAP revenues | $11.7 billion | |||||||
GAAP net Income | $1.1 billion | |||||||
Total assets | $59.5 billion | |||||||
Utility electric customers | 3.0 million | |||||||
Interconnected high-voltage transmission lines | 16,100 circuit miles | |||||||
Distribution lines across the utility’s 94,000-square-mile service area | 105,500 circuit miles | |||||||
Utility billed retail electric energy sales | 114,744 GWh | |||||||
Employees at year-end | 12,369 | |||||||
Utility owned and leased generating capability by fuel source in MW: | ||||||||
Modern Gas | 10,508 | |||||||
Nuclear | 5,222 | |||||||
Legacy Gas | 6,425 | |||||||
Coal | 2,097 | |||||||
Renewables | 101 |
ENTERGY AT A GLANCE | ||
UTILITY OPERATIONS | ||
The Utility business segment includes the generation, transmission, distribution, and sale of electric power, and operation of a small | ||
natural gas distribution business. | ||
● Five retail electric utilities with 3 million customers | ||
● Four states – Arkansas, Louisiana, Mississippi, Texas | ||
● 24,353 MW generating capability | ||
● Two gas utilities with 206,000 customers | ||
ENTERGY ARKANSAS, LLC (E-AR) | ||
Entergy Arkansas generates, transmits, distributes, and sells electric power to 728,000 retail customers in Arkansas. | ||
ENTERGY LOUISIANA, LLC (E-LA) | ||
Entergy Louisiana generates, transmits, distributes, and sells electric power to 1,100,000 retail customers in Louisiana. | ||
Entergy Louisiana also provides natural gas utility service to 96,000 customers in the Baton Rouge, Louisiana area. | ||
ENTERGY MISSISSIPPI, LLC (E-MS) | ||
Entergy Mississippi generates, transmits, distributes, and sells electric power to 461,000 retail customers in Mississippi. | ||
ENTERGY NEW ORLEANS, LLC (E-NO) | ||
Entergy New Orleans generates, transmits, distributes, and sells electric power to 209,000 retail customers in the city of New Orleans, | ||
Louisiana. Entergy New Orleans also provides natural gas utility service to 110,000 customers in the city of New Orleans. | ||
ENTERGY TEXAS, INC. (E-TX) | ||
Entergy Texas generates, transmits, distributes, and sells electric power to 486,000 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 | ||||||||||||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||||||||
GAAP MEASURES | ||||||||||||||||||||||||||
Operating Revenues ($ millions) | 11,743 | 10,114 | 10,879 | |||||||||||||||||||||||
As-Reported Net Income (Loss) Attributable to Entergy Corporation ($ millions) | 1,118 | 1,388 | 1,241 | |||||||||||||||||||||||
As-Reported Earnings Per Share ($) | 5.54 | 6.90 | 6.3 | |||||||||||||||||||||||
Common Dividend Paid Per Share ($) | 3.86 | 3.74 | 3.66 | |||||||||||||||||||||||
Common Dividend Payout Ratio – As-Reported (%) | 70 | 54 | 58 | |||||||||||||||||||||||
NON-GAAP MEASURES | ||||||||||||||||||||||||||
Adjusted Earnings ($ millions) | 1,215 | 1,138 | 1,064 | |||||||||||||||||||||||
Adjusted Earnings Per Share ($) | 6.02 | 5.66 | 5.4 | |||||||||||||||||||||||
Adjustments ($ millions) | (97) | 250 | 177 | |||||||||||||||||||||||
Adjustments Per Share ($) | (0.48) | 1.24 | 0.9 | |||||||||||||||||||||||
Common Dividend Payout Ratio – Adjusted (%) | 64 | 66 | 68 | |||||||||||||||||||||||
UTILITY ELECTRIC OPERATING DATA | ||||||||||||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||||||||
Retail Kilowatt-Hour Sales (millions) | 114,744 | 111,170 | 115,911 | |||||||||||||||||||||||
Peak Demand (megawatts) | 22,051 | 21,340 | 21,598 | |||||||||||||||||||||||
Retail Customers – Year End (thousands) | 2,984 | 2,954 | 2,923 | |||||||||||||||||||||||
ENTERGY WHOLESALE COMMODITIES OPERATING DATA | ||||||||||||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||||||||
Billed Electric Energy Sales (gigawatt hours) | 11,328 | 20,581 | 28,088 | |||||||||||||||||||||||
EMPLOYEES | ||||||||||||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||||||||
Total Employees – Year End | 12,369 | 13,400 | 13,635 |
OWNED AND LEASED CAPABILITY (MW)(a) | ||||||||||||||||||||||||||
As of December 31, 2021 | ||||||||||||||||||||||||||
E-AR | E-LA | E-MS | E-NO | E-TX | SERI | EWC(b)(c)(d) | Total | |||||||||||||||||||
Gas/Oil | 2,091 | 8,261 | 2,938 | 639 | 3,004 | — | 213 | 17,146 | ||||||||||||||||||
Coal | 1,193 | 340 | 312 | — | 252 | — | 181 | 2,278 | ||||||||||||||||||
Total Fossil | 3,284 | 8,601 | 3,250 | 639 | 3,256 | — | 394 | 19,424 | ||||||||||||||||||
Nuclear | 1,819 | 2,140 | — | — | — | 1,263 | 811 | 6,033 | ||||||||||||||||||
Hydro | 72 | — | — | — | — | — | — | 72 | ||||||||||||||||||
Solar | — | — | 2 | 27 | — | — | — | 29 | ||||||||||||||||||
Total | 5,175 | 10,741 | 3,252 | 666 | 3,256 | 1,263 | 1,205 | 25,558 | ||||||||||||||||||
(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 | |||||||||||||||||||||||||||||||||||
2021 | 2020 | FY | |||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | |||||||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||||||||||||||
ROE – as-reported (%)(a) | 15.1 | 11.6 | 11.3 | 9.9 | 9.9 | 11.5 | 12.2 | 13.3 | 13.1 | 13.1 | (3.2) | ||||||||||||||||||||||||
Cash and cash equivalents ($ millions) | 1,743 | 687 | 1,000 | 443 | 443 | 1,464 | 935 | 1,240 | 1,759 | 1,759 | (1,317) | ||||||||||||||||||||||||
Revolver capacity ($ millions) | 4,220 | 4,125 | 3,925 | 3,985 | 3,985 | 3,348 | 4,110 | 4,125 | 4,110 | 4,110 | (124) | ||||||||||||||||||||||||
Commercial paper ($ millions) | 1,028 | 866 | 1,006 | 1,201 | 1,201 | 1,942 | 1,946 | 1,398 | 1,627 | 1,627 | (426) | ||||||||||||||||||||||||
Total debt ($ millions) | 25,803 | 25,435 | 25,695 | 27,154 | 27,154 | 21,465 | 21,493 | 22,127 | 24,062 | 24,062 | 3,092 | ||||||||||||||||||||||||
Securitization debt ($ millions) | 147 | 114 | 90 | 84 | 84 | 271 | 232 | 209 | 175 | 175 | (91) | ||||||||||||||||||||||||
Debt to capital (%) | 69.6 | 69.5 | 69.1 | 69.5 | 69.5 | 67.2 | 66.8 | 66.7 | 68.3 | 68.3 | 1.2 | ||||||||||||||||||||||||
Off-balance sheet liabilities ($ millions) | |||||||||||||||||||||||||||||||||||
Debt of joint ventures – Entergy’s share | 15 | 12 | 9 | 7 | 7 | 53 | 51 | 49 | 17 | 17 | (10) | ||||||||||||||||||||||||
Total off-balance sheet liabilities | 15 | 12 | 9 | 7 | 7 | 53 | 51 | 49 | 17 | 17 | (10) | ||||||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||||||||||||||
ROE – adjusted (%)(a) | 11.3 | 11.3 | 10.9 | 10.8 | 10.8 | 11.8 | 11.4 | 10.9 | 10.8 | 10.8 | 0 | ||||||||||||||||||||||||
Gross liquidity ($ millions) | 5,963 | 4,812 | 4,925 | 4,428 | 4,428 | 4,811 | 5,045 | 5,364 | 5,869 | 5,869 | (1,441) | ||||||||||||||||||||||||
Net liquidity ($ millions) | 4,935 | 3,946 | 3,919 | 3,227 | 3,227 | 2,870 | 3,099 | 3,966 | 4,241 | 4,241 | (1,014) | ||||||||||||||||||||||||
Net liquidity, including storm escrows ($ millions) | 5,007 | 4,018 | 3,952 | 3,260 | 3,260 | 3,242 | 3,472 | 4,339 | 4,357 | 4,357 | (1,097) | ||||||||||||||||||||||||
Debt to capital, excluding securitization debt (%) | 69.5 | 69.4 | 69.0 | 69.4 | 69.4 | 66.9 | 66.6 | 66.5 | 68.1 | 68.1 | 1.3 | ||||||||||||||||||||||||
Net debt to net capital, excluding securitization debt (%) | 68.0 | 68.9 | 68.1 | 69.1 | 69.1 | 65.3 | 65.6 | 65.2 | 66.4 | 66.4 | 2.6 | ||||||||||||||||||||||||
Parent debt to total debt, excluding securitization debt (%) | 22.3 | 22.4 | 23.4 | 22.2 | 22.2 | 22.2 | 22.0 | 22.4 | 21.6 | 21.6 | 0.6 | ||||||||||||||||||||||||
FFO to debt, excluding securitization debt (%) | 8.2 | 8.3 | 8.3 | 7.7 | 7.7 | 14.3 | 14.6 | 11.8 | 10.3 | 10.3 | (2.6) | ||||||||||||||||||||||||
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%) | 8.7 | 9.3 | 9.2 | 8.4 | 8.4 | 16.0 | 16.0 | 12.5 | 10.9 | 10.9 | (2.5) | ||||||||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||||||||||||||
(a) Rolling twelve months. |
CONSOLIDATED ANNUAL FINANCIAL METRICS | |||||||||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||
ROE – as-reported (%) | 9.9 | 13.1 | 13.0 | ||||||||||||||||||||
Cash and cash equivalents ($ millions) | 443 | 1,759 | 426 | ||||||||||||||||||||
Revolver capacity ($ millions) | 3,985 | 4,110 | 3,810 | ||||||||||||||||||||
Commercial paper ($ millions) | 1,201 | 1,627 | 1,947 | ||||||||||||||||||||
Total debt ($ millions) | 27,154 | 24,062 | 19,885 | ||||||||||||||||||||
Securitization debt ($ millions) | 84 | 175 | 298 | ||||||||||||||||||||
Debt to capital (%) | 69.5 | 68.3 | 65.5 | ||||||||||||||||||||
Off-balance sheet liabilities ($ millions) | |||||||||||||||||||||||
Debt of joint ventures – Entergy’s share | 7 | 17 | 54 | ||||||||||||||||||||
Total off-balance sheet liabilities | 7 | 17 | 54 | ||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||
ROE – adjusted (%) | 10.8 | 10.8 | 11.2 | ||||||||||||||||||||
Gross liquidity ($ millions) | 4,428 | 5,869 | 4,236 | ||||||||||||||||||||
Net liquidity ($ millions) | 3,227 | 4,241 | 2,289 | ||||||||||||||||||||
Net liquidity, including storm escrows ($ millions) | 3,260 | 4,357 | 2,701 | ||||||||||||||||||||
Debt to capital, excluding securitization debt (%) | 69.4 | 68.1 | 65.1 | ||||||||||||||||||||
Net debt to net capital, excluding securitization debt (%) | 69.1 | 66.4 | 64.6 | ||||||||||||||||||||
Parent debt to total debt, excluding securitization debt (%) | 22.2 | 21.6 | 21.6 | ||||||||||||||||||||
FFO to debt, excluding securitization debt (%) | 7.7 | 10.3 | 14.6 | ||||||||||||||||||||
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%) | 8.4 | 10.9 | 16.8 | ||||||||||||||||||||
Totals may not foot due to rounding. |
FINANCIAL RESULTS | |||||||||||||||||||||||||||||||||||
ENTERGY CORPORATION CONSOLIDATED QUARTERLY RESULTS – GAAP TO NON-GAAP RECONCILIATION | |||||||||||||||||||||||||||||||||||
2021 | 2020 | FY | |||||||||||||||||||||||||||||||||
(After-tax, $ in millions) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
AS-REPORTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 357 | 326 | 570 | 238 | 1,490 | 320 | 345 | 552 | 584 | 1,800 | (310) | ||||||||||||||||||||||||
Parent & Other | (60) | (57) | (65) | (68) | (249) | (90) | (69) | (61) | (127) | (347) | 98 | ||||||||||||||||||||||||
Entergy Wholesale Commodities | 38 | (275) | 26 | 89 | (123) | (111) | 85 | 30 | (69) | (65) | (58) | ||||||||||||||||||||||||
CONSOLIDATED AS-REPORTED EARNINGS (LOSS) | 335 | (6) | 531 | 259 | 1,118 | 119 | 361 | 521 | 388 | 1,388 | (270) | ||||||||||||||||||||||||
LESS ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Utility | — | — | 11 | 16 | 27 | — | — | — | 377 | 377 | (350) | ||||||||||||||||||||||||
Parent & Other | — | — | — | (1) | (1) | — | — | — | (61) | (61) | 61 | ||||||||||||||||||||||||
Entergy Wholesale Commodities | 38 | (275) | 26 | 89 | (123) | (111) | 85 | 30 | (69) | (65) | (58) | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS | 38 | (275) | 37 | 104 | (97) | (111) | 85 | 30 | 246 | 250 | (347) | ||||||||||||||||||||||||
ADJUSTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 357 | 326 | 559 | 222 | 1,464 | 320 | 345 | 552 | 207 | 1,424 | 40 | ||||||||||||||||||||||||
Parent & Other | (60) | (57) | (65) | (67) | (248) | (90) | (69) | (61) | (66) | (286) | 37 | ||||||||||||||||||||||||
Entergy Wholesale Commodities | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
CONSOLIDATED ADJUSTED EARNINGS (LOSS) | 297 | 269 | 494 | 155 | 1,215 | 230 | 276 | 491 | 142 | 1,138 | 77 | ||||||||||||||||||||||||
Weather Impact | 24 | (19) | (2) | (10) | (7) | (50) | (4) | 1 | (22) | (75) | 68 | ||||||||||||||||||||||||
SHARES OF COMMON STOCK OUTSTANDING | |||||||||||||||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||||||||
End of period | 201 | 201 | 201 | 203 | 203 | 200 | 200 | 200 | 200 | 200 | 3 | ||||||||||||||||||||||||
Diluted average | 201 | 201 | 202 | 203 | 202 | 201 | 201 | 201 | 201 | 201 | 1 | ||||||||||||||||||||||||
2021 | 2020 | FY | |||||||||||||||||||||||||||||||||
(After-tax, per share in $) (a) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
AS-REPORTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 1.77 | 1.62 | 2.82 | 1.17 | 7.38 | 1.59 | 1.71 | 2.74 | 2.90 | 8.95 | (1.57) | ||||||||||||||||||||||||
Parent & Other | (0.30) | (0.28) | (0.32) | (0.33) | (1.23) | (0.45) | (0.34) | (0.30) | (0.63) | (1.73) | 0.50 | ||||||||||||||||||||||||
Entergy Wholesale Commodities | 0.19 | (1.37) | 0.13 | 0.44 | (0.61) | (0.55) | 0.42 | 0.15 | (0.34) | (0.32) | (0.29) | ||||||||||||||||||||||||
CONSOLIDATED AS-REPORTED EARNINGS (LOSS) | 1.66 | (0.03) | 2.63 | 1.28 | 5.54 | 0.59 | 1.79 | 2.59 | 1.93 | 6.90 | (1.36) | ||||||||||||||||||||||||
LESS ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Utility | — | — | 0.05 | 0.08 | 0.13 | — | — | — | 1.87 | 1.87 | (1.74) | ||||||||||||||||||||||||
Parent & Other | — | — | — | — | — | — | — | — | (0.31) | (0.31) | 0.31 | ||||||||||||||||||||||||
Entergy Wholesale Commodities | 0.19 | (1.37) | 0.13 | 0.44 | (0.61) | (0.55) | 0.42 | 0.15 | (0.34) | (0.32) | (0.29) | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS | 0.19 | (1.37) | 0.18 | 0.52 | (0.48) | (0.55) | 0.42 | 0.15 | 1.22 | 1.24 | (1.72) | ||||||||||||||||||||||||
ADJUSTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 1.77 | 1.62 | 2.77 | 1.09 | 7.25 | 1.59 | 1.71 | 2.74 | 1.03 | 7.08 | 0.17 | ||||||||||||||||||||||||
Parent & Other | (0.30) | (0.28) | (0.32) | (0.33) | (1.23) | (0.45) | (0.34) | (0.30) | (0.32) | (1.42) | 0.19 | ||||||||||||||||||||||||
Entergy Wholesale Commodities | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
CONSOLIDATED ADJUSTED EARNINGS (LOSS) | 1.47 | 1.34 | 2.45 | 0.76 | 6.02 | 1.14 | 1.37 | 2.44 | 0.71 | 5.66 | 0.36 | ||||||||||||||||||||||||
Weather Impact | 0.12 | (0.09) | (0.01) | (0.05) | (0.03) | (0.25) | (0.02) | 0.01 | (0.11) | (0.37) | 0.34 | ||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||
2021 | 2020 | 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 | |||||||||||||||||||||||||||||||||||
Gain on sale | — | — | 15 | — | 15 | — | — | — | — | — | 15 | ||||||||||||||||||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | — | — | — | — | — | — | — | — | (25) | (25) | 25 | ||||||||||||||||||||||||
Income tax effect on Utility adjustments above (a) | — | — | (4) | — | (4) | — | — | — | 6 | 6 | (10) | ||||||||||||||||||||||||
Income tax valuation allowance | — | — | — | (8) | (8) | — | — | — | — | — | (8) | ||||||||||||||||||||||||
Provision for uncertain tax position | — | — | — | (5) | (5) | — | — | — | — | — | (5) | ||||||||||||||||||||||||
State corporate income tax rate change | — | — | — | 29 | 29 | — | — | — | — | — | 29 | ||||||||||||||||||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | — | — | — | — | — | — | 396 | 396 | (396) | ||||||||||||||||||||||||
Total | — | — | 11 | 16 | 27 | — | — | — | 377 | 377 | (350) | ||||||||||||||||||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
State corporate income tax rate change | — | — | — | (1) | (1) | — | — | — | — | — | (1) | ||||||||||||||||||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | — | — | — | — | — | — | (61) | (61) | 61 | ||||||||||||||||||||||||
Total | — | — | — | (1) | (1) | — | — | — | (61) | (61) | 61 | ||||||||||||||||||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Income before income taxes | 54 | (346) | 35 | 112 | (146) | (141) | 110 | 43 | 30 | 42 | (188) | ||||||||||||||||||||||||
Income taxes | (16) | 72 | (9) | (22) | 25 | 31 | (24) | (12) | (99) | (105) | 130 | ||||||||||||||||||||||||
Preferred dividend requirements | (1) | (1) | (1) | (1) | (2) | (1) | (1) | (1) | (1) | (2) | — | ||||||||||||||||||||||||
Total | 38 | (275) | 26 | 89 | (123) | (111) | 85 | 30 | (69) | (65) | (58) | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS | 38 | (275) | 37 | 104 | (97) | (111) | 85 | 30 | 246 | 250 | (347) | ||||||||||||||||||||||||
2021 | 2020 | FY | |||||||||||||||||||||||||||||||||
(After-tax, per share in $) (b) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
UTILITY ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Gain on sale | — | — | 0.05 | — | 0.05 | — | — | — | — | — | 0.05 | ||||||||||||||||||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | — | — | — | — | — | — | — | — | (0.09) | (0.09) | 0.09 | ||||||||||||||||||||||||
Income tax valuation allowance | — | — | — | (0.04) | (0.04) | — | — | — | — | — | (0.04) | ||||||||||||||||||||||||
Provision for uncertain tax position | — | — | — | (0.02) | (0.02) | — | — | — | — | — | (0.02) | ||||||||||||||||||||||||
State corporate income tax rate change | — | — | — | 0.14 | 0.14 | — | — | — | — | — | 0.14 | ||||||||||||||||||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | — | — | — | — | — | 1.96 | 1.96 | (1.96) | |||||||||||||||||||||||||
Total | — | — | 0.05 | 0.08 | 0.13 | — | — | — | 1.87 | 1.87 | (1.74) | ||||||||||||||||||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | — | — | — | — | — | — | (0.31) | (0.31) | 0.31 | ||||||||||||||||||||||||
Total | — | — | — | — | — | — | — | — | (0.31) | (0.31) | 0.31 | ||||||||||||||||||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT | |||||||||||||||||||||||||||||||||||
Total | 0.19 | (1.37) | 0.13 | 0.44 | (0.61) | (0.55) | 0.42 | 0.15 | (0.34) | (0.32) | (0.29) | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS | 0.19 | (1.37) | 0.18 | 0.52 | (0.48) | (0.55) | 0.42 | 0.15 | 1.22 | 1.24 | (1.72) | ||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||
2021 | 2020 | 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 O&M | — | — | 15 | — | 15 | — | — | — | — | — | 15 | ||||||||||||||||||||||||
Other regulatory charges | — | — | — | — | — | — | — | — | (25) | (25) | 25 | ||||||||||||||||||||||||
Income taxes (a) | — | — | (4) | 16 | 12 | — | — | — | 402 | 402 | (390) | ||||||||||||||||||||||||
Total | — | — | 11 | 16 | 27 | — | — | — | 377 | 377 | (350) | ||||||||||||||||||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Income taxes (a) | — | — | — | (1) | (1) | — | — | — | (61) | (61) | 61 | ||||||||||||||||||||||||
Total | — | — | — | (1) | (1) | — | — | — | (61) | (61) | 61 | ||||||||||||||||||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Operating revenues | 248 | 149 | 162 | 139 | 698 | 333 | 200 | 214 | 196 | 943 | (245) | ||||||||||||||||||||||||
Fuel and fuel-related expenses | (21) | (17) | (24) | (20) | (83) | (20) | (17) | (14) | (16) | (67) | (15) | ||||||||||||||||||||||||
Purchased power | (18) | (18) | (22) | (15) | (73) | (11) | (10) | (29) | (18) | (68) | (5) | ||||||||||||||||||||||||
Nuclear refueling outage expense | (11) | (11) | (11) | (11) | (45) | (12) | (12) | (11) | (11) | (45) | (1) | ||||||||||||||||||||||||
Other O&M | (99) | (83) | (51) | (53) | (287) | (131) | (140) | (114) | (115) | (500) | 213 | ||||||||||||||||||||||||
Asset write-offs and impairments | (3) | (342) | — | 82 | (264) | (5) | (7) | (4) | (10) | (27) | (237) | ||||||||||||||||||||||||
Decommissioning expense | (53) | (40) | (14) | (14) | (120) | (50) | (51) | (51) | (53) | (205) | 85 | ||||||||||||||||||||||||
Taxes other than income taxes | (6) | (6) | (2) | (3) | (17) | (20) | (14) | (10) | (9) | (53) | 36 | ||||||||||||||||||||||||
Depreciation/amortization expense | (13) | (14) | (9) | (9) | (44) | (35) | (25) | (21) | (21) | (102) | 58 | ||||||||||||||||||||||||
Other income (deductions) - other | 34 | 41 | 9 | 18 | 101 | (184) | 194 | 87 | 92 | 189 | (87) | ||||||||||||||||||||||||
Interest expense and other charges | (4) | (4) | (3) | (2) | (13) | (5) | (7) | (5) | (5) | (22) | 9 | ||||||||||||||||||||||||
Income taxes | (16) | 72 | (9) | (22) | 25 | 31 | (24) | (12) | (99) | (105) | 130 | ||||||||||||||||||||||||
Preferred dividend requirements | (1) | (1) | (1) | (1) | (2) | (1) | (1) | (1) | (1) | (2) | — | ||||||||||||||||||||||||
Total | 38 | (275) | 26 | 89 | (123) | (111) | 85 | 30 | (69) | (65) | (58) | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS (after-tax) | 38 | (275) | 37 | 104 | (97) | (111) | 85 | 30 | 246 | 250 | (347) | ||||||||||||||||||||||||
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) | 2021 | 2020 | 2019 | ||||||||
AS-REPORTED EARNINGS (LOSS) | |||||||||||
Utility | 1,490 | 1,800 | 1,411 | ||||||||
Parent & Other | (249) | (347) | (316) | ||||||||
Entergy Wholesale Commodities | (123) | (65) | 147 | ||||||||
CONSOLIDATED AS-REPORTED EARNINGS | 1,118 | 1,388 | 1,241 | ||||||||
LESS ADJUSTMENTS | |||||||||||
Utility | 27 | 377 | 41 | ||||||||
Parent & Other | (1) | (61) | (11) | ||||||||
Entergy Wholesale Commodities | (123) | (65) | 147 | ||||||||
TOTAL ADJUSTMENTS | (97) | 250 | 177 | ||||||||
ADJUSTED EARNINGS (LOSS) | |||||||||||
Utility | 1,464 | 1,424 | 1,369 | ||||||||
Parent & Other | (248) | (286) | (305) | ||||||||
Entergy Wholesale Commodities | — | — | — | ||||||||
ENTERGY ADJUSTED EARNINGS | 1,215 | 1,138 | 1,064 | ||||||||
Weather Impact | (7) | (75) | 46 | ||||||||
SHARES OF COMMON STOCK OUTSTANDING | |||||||||||
($ millions) | |||||||||||
End of period | 203 | 200 | 199 | ||||||||
Weighted average - diluted | 202 | 201 | 197 | ||||||||
(After-tax, per share in $) (a) | 2021 | 2020 | 2019 | ||||||||
AS-REPORTED EARNINGS (LOSS) | |||||||||||
Utility | 7.38 | 8.95 | 7.16 | ||||||||
Parent & Other | (1.23) | (1.73) | (1.60) | ||||||||
Entergy Wholesale Commodities | (0.61) | (0.32) | 0.74 | ||||||||
CONSOLIDATED AS-REPORTED EARNINGS | 5.54 | 6.90 | 6.30 | ||||||||
LESS ADJUSTMENTS | |||||||||||
Utility | 0.13 | 1.87 | 0.21 | ||||||||
Parent & Other | — | (0.31) | (0.05) | ||||||||
Entergy Wholesale Commodities | (0.61) | (0.32) | 0.74 | ||||||||
TOTAL ADJUSTMENTS | (0.48) | 1.24 | 0.90 | ||||||||
ADJUSTED EARNINGS (LOSS) | |||||||||||
Utility | 7.25 | 7.08 | 6.95 | ||||||||
Parent & Other | (1.23) | (1.42) | (1.55) | ||||||||
Entergy Wholesale Commodities | — | — | — | ||||||||
ENTERGY ADJUSTED EARNINGS | 6.02 | 5.66 | 5.40 | ||||||||
Weather Impact | (0.03) | (0.37) | 0.23 | ||||||||
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) | 2021 | 2020 | 2019 | ||||||||
UTILITY ADJUSTMENTS | |||||||||||
Gain on sale | 15 | — | — | ||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | — | (25) | — | ||||||||
Income tax effect on Utility adjustments above (a) | (4) | 6 | — | ||||||||
Income tax valuation allowance | (8) | — | — | ||||||||
Provision for uncertain tax position | (5) | — | — | ||||||||
State corporate income tax rate change | 29 | — | — | ||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | 396 | — | ||||||||
Reversal of income tax valuation allowance | — | — | 41 | ||||||||
Total | 27 | 377 | 41 | ||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||
State corporate income tax rate change | (1) | ||||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | (61) | — | ||||||||
Income tax item related to a valuation allowance for interest deductibility | — | — | (11) | ||||||||
Total | (1) | (61) | (11) | ||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENT | |||||||||||
Income before income taxes | (146) | 42 | (12) | ||||||||
Income taxes | 25 | (105) | 161 | ||||||||
Preferred dividend requirements | (2) | (2) | (2) | ||||||||
Total | (123) | (65) | 147 | ||||||||
TOTAL ADJUSTMENTS | (97) | 250 | 177 | ||||||||
(After-tax, per share in $) (b) | 2021 | 2020 | 2019 | ||||||||
UTILITY ADJUSTMENTS | |||||||||||
Gain on sale | 0.05 | — | — | ||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | — | (0.09) | — | ||||||||
Income tax valuation allowance | (0.04) | — | — | ||||||||
Provision for uncertain tax position | (0.02) | — | — | ||||||||
State corporate income tax rate change | 0.14 | — | — | ||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | 1.96 | — | ||||||||
Reversal of income tax valuation allowance | — | — | 0.21 | ||||||||
Total | 0.13 | 1.87 | 0.21 | ||||||||
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 | (0.61) | (0.32) | 0.74 | ||||||||
TOTAL ADJUSTMENTS | (0.48) | 1.24 | 0.90 | ||||||||
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) | 2021 | 2020 | 2019 | ||||||||
UTILITY ADJUSTMENTS | |||||||||||
Other O&M | 15 | — | — | ||||||||
Other regulatory charges | — | (25) | — | ||||||||
Income taxes (a) | 12 | 402 | 41 | ||||||||
Total | 27 | 377 | 41 | ||||||||
PARENT & OTHER ADJUSTMENTS | |||||||||||
Income taxes (a) | (1) | (61) | (11) | ||||||||
Total | (1) | (61) | (11) | ||||||||
ENTERGY WHOLESALE COMMODITIES ADJUSTMENTS | |||||||||||
Operating revenues | 698 | 943 | 1,295 | ||||||||
Fuel and fuel-related expenses | (83) | (67) | (98) | ||||||||
Purchased power | (73) | (68) | (59) | ||||||||
Nuclear refueling outage expense | (45) | (45) | (49) | ||||||||
Other O&M | (287) | (500) | (678) | ||||||||
Asset write-offs and impairments | (264) | (27) | (290) | ||||||||
Decommissioning expense | (120) | (205) | (237) | ||||||||
Taxes other than income taxes | (17) | (53) | (60) | ||||||||
Depreciation/amortization expense | (44) | (102) | (148) | ||||||||
Other income (deductions) - other | 101 | 189 | 340 | ||||||||
Interest expense and other charges | (13) | (22) | (29) | ||||||||
Income taxes | 25 | (105) | 161 | ||||||||
Preferred dividend requirements | (2) | (2) | (2) | ||||||||
Total | (123) | (65) | 147 | ||||||||
TOTAL ADJUSTMENTS (after-tax) | (97) | 250 | 177 | ||||||||
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. | |||||||||||
(Page left blank intentionally) |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) | |||||||||||
In thousands, except share data, for the years ended December 31, | 2021 | 2020 | 2019 | ||||||||
OPERATING REVENUES: | |||||||||||
Electric | $10,873,995 | $9,046,643 | $9,429,978 | ||||||||
Natural gas | 170,610 | 124,008 | 153,954 | ||||||||
Competitive businesses | 698,291 | 942,985 | 1,294,741 | ||||||||
Total | 11,742,896 | 10,113,636 | 10,878,673 | ||||||||
OPERATING EXPENSES: | |||||||||||
Operation and maintenance: | |||||||||||
Fuel, fuel-related expenses, and gas purchased for resale | 2,458,096 | 1,564,371 | 2,029,638 | ||||||||
Purchased power | 1,271,677 | 904,268 | 1,192,860 | ||||||||
Nuclear refueling outage expenses | 172,636 | 184,157 | 204,927 | ||||||||
Other operation and maintenance | 2,968,621 | 3,002,626 | 3,272,381 | ||||||||
Asset write-offs, impairments, and related charges | 263,625 | 26,623 | 290,027 | ||||||||
Decommissioning | 306,411 | 381,861 | 400,802 | ||||||||
Taxes other than income taxes | 660,290 | 652,840 | 643,745 | ||||||||
Depreciation and amortization | 1,684,286 | 1,613,086 | 1,480,016 | ||||||||
Other regulatory charges (credits) – net | 111,628 | 14,609 | (26,220) | ||||||||
Total | 9,897,270 | 8,344,441 | 9,488,176 | ||||||||
OPERATING INCOME | 1,845,626 | 1,769,195 | 1,390,497 | ||||||||
OTHER INCOME: | |||||||||||
Allowance for equity funds used during construction | 70,473 | 119,430 | 144,974 | ||||||||
Interest and investment income | 430,466 | 392,818 | 547,912 | ||||||||
Miscellaneous – net | (201,778) | (210,633) | (252,539) | ||||||||
Total | 299,161 | 301,615 | 440,347 | ||||||||
INTEREST EXPENSE: | |||||||||||
Interest expense | 863,712 | 837,981 | 807,382 | ||||||||
Allowance for borrowed funds used during construction | (29,018) | (52,318) | (64,957) | ||||||||
Total | 834,694 | 785,663 | 742,425 | ||||||||
INCOME BEFORE INCOME TAXES | 1,310,093 | 1,285,147 | 1,088,419 | ||||||||
Income taxes | 191,374 | (121,506) | (169,825) | ||||||||
CONSOLIDATED NET INCOME | 1,118,719 | 1,406,653 | 1,258,244 | ||||||||
Preferred dividend requirements of subsidiaries and noncontrolling interest | 227 | 18,319 | 17,018 | ||||||||
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION | $1,118,492 | $1,388,334 | $1,241,226 | ||||||||
Basic earnings per average common share | $5.57 | $6.94 | $6.36 | ||||||||
Diluted earnings per average common share | $5.54 | $6.90 | $6.30 | ||||||||
Basic average number of common shares outstanding | 200,941,511 | 200,106,945 | 195,195,858 | ||||||||
Diluted average number of common shares outstanding | 201,873,024 | 201,102,220 | 196,999,284 | ||||||||
FINANCIAL RESULTS | ||||||||||||||
2021 CONSOLIDATING INCOME STATEMENT (unaudited) | ||||||||||||||
ENTERGY | ||||||||||||||
In thousands, except share data, for the year ended December 31, 2021. | UTILITY | PARENT & OTHER | EWC | CONSOLIDATED | ||||||||||
OPERATING REVENUES: | ||||||||||||||
Electric | $10,874,064 | ($69) | $— | $10,873,995 | ||||||||||
Natural gas | 170,610 | — | — | 170,610 | ||||||||||
Competitive businesses | — | 127 | 698,164 | 698,291 | ||||||||||
Total | 11,044,674 | 58 | 698,164 | 11,742,896 | ||||||||||
OPERATING EXPENSES: | ||||||||||||||
Operation and maintenance: | ||||||||||||||
Fuel, fuel-related expenses, and gas purchased for resale | 2,375,456 | (29) | 82,669 | 2,458,096 | ||||||||||
Purchased power | 1,198,755 | 29 | 72,893 | 1,271,677 | ||||||||||
Nuclear refueling outage expenses | 127,758 | — | 44,878 | 172,636 | ||||||||||
Other operation and maintenance | 2,657,025 | 25,068 | 286,528 | 2,968,621 | ||||||||||
Asset write-offs, impairments, and related charges | — | — | 263,625 | 263,625 | ||||||||||
Decommissioning | 186,238 | — | 120,173 | 306,411 | ||||||||||
Taxes other than income taxes | 642,604 | 493 | 17,193 | 660,290 | ||||||||||
Depreciation and amortization | 1,637,151 | 2,706 | 44,429 | 1,684,286 | ||||||||||
Other regulatory charges - net | 111,628 | — | — | 111,628 | ||||||||||
Total | 8,936,615 | 28,267 | 932,388 | 9,897,270 | ||||||||||
OPERATING INCOME | 2,108,059 | (28,209) | (234,224) | 1,845,626 | ||||||||||
OTHER INCOME (DEDUCTIONS): | ||||||||||||||
Allowance for equity funds used during construction | 70,473 | — | — | 70,473 | ||||||||||
Interest and investment income | 442,817 | (130,948) | 118,597 | 430,466 | ||||||||||
Miscellaneous – net | (176,649) | (8,020) | (17,109) | (201,778) | ||||||||||
Total | 336,641 | (138,968) | 101,488 | 299,161 | ||||||||||
INTEREST EXPENSE: | ||||||||||||||
Interest expense | 721,022 | 129,356 | 13,334 | 863,712 | ||||||||||
Allowance for borrowed funds used during construction | (29,018) | — | — | (29,018) | ||||||||||
Total | 692,004 | 129,356 | 13,334 | 834,694 | ||||||||||
INCOME BEFORE INCOME TAXES | 1,752,696 | (296,533) | (146,070) | 1,310,093 | ||||||||||
Income taxes | 264,209 | (47,454) | (25,381) | 191,374 | ||||||||||
CONSOLIDATED NET INCOME | 1,488,487 | (249,079) | (120,689) | 1,118,719 | ||||||||||
Preferred dividend requirements of subsidiaries and noncontrolling interest | (1,933) | (28) | 2,188 | 227 | ||||||||||
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION | $1,490,420 | ($249,051) | ($122,877) | $1,118,492 | ||||||||||
Basic earnings per average common share | $7.42 | ($1.24) | ($0.61) | $5.57 | ||||||||||
Diluted earnings per average common share | $7.38 | ($1.23) | ($0.61) | $5.54 | ||||||||||
Totals may not foot due to rounding. | ||||||||||||||
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED BALANCE SHEETS (unaudited) | |||||||||||
In thousands, as of December 31, | 2021 | 2020 | 2019 | ||||||||
ASSETS | |||||||||||
CURRENT ASSETS: | |||||||||||
Cash and cash equivalents: | |||||||||||
Cash | $44,944 | $128,851 | $34,242 | ||||||||
Temporary cash investments | 397,615 | 1,630,248 | 391,480 | ||||||||
Total cash and cash equivalents | 442,559 | 1,759,099 | 425,722 | ||||||||
Accounts receivable: | |||||||||||
Customer | 786,866 | 833,478 | 595,509 | ||||||||
Allowance for doubtful accounts | (68,608) | (117,794) | (7,404) | ||||||||
Other | 231,843 | 135,208 | 219,870 | ||||||||
Accrued unbilled revenues | 420,255 | 434,835 | 400,617 | ||||||||
Total accounts receivable | 1,370,356 | 1,285,727 | 1,208,592 | ||||||||
Deferred fuel costs | 324,394 | 4,380 | — | ||||||||
Fuel inventory – at average cost | 154,575 | 172,934 | 145,476 | ||||||||
Materials and supplies – at average cost | 1,041,515 | 962,185 | 824,989 | ||||||||
Deferred nuclear refueling outage costs | 133,422 | 179,150 | 157,568 | ||||||||
Prepayments and other | 156,774 | 196,424 | 283,645 | ||||||||
Total | 3,623,595 | 4,559,899 | 3,045,992 | ||||||||
OTHER PROPERTY AND INVESTMENTS: | |||||||||||
Decommissioning trust funds | 5,514,016 | 7,253,215 | 6,404,030 | ||||||||
Non-utility property – at cost (less accumulated depreciation) | 357,576 | 343,328 | 332,864 | ||||||||
Other | 159,455 | 214,222 | 496,452 | ||||||||
Total | 6,031,047 | 7,810,765 | 7,233,346 | ||||||||
PROPERTY, PLANT AND EQUIPMENT: | |||||||||||
Electric | 64,263,250 | 59,696,443 | 54,271,467 | ||||||||
Natural gas | 658,989 | 610,768 | 547,110 | ||||||||
Construction work in progress | 1,511,966 | 2,012,030 | 2,823,291 | ||||||||
Nuclear fuel | 577,006 | 601,281 | 677,181 | ||||||||
Total property, plant and equipment | 67,011,211 | 62,920,522 | 58,319,049 | ||||||||
Less – accumulated depreciation and amortization | 24,767,051 | 24,067,745 | 23,136,356 | ||||||||
Property, plant and equipment – net | 42,244,160 | 38,852,777 | 35,182,693 | ||||||||
DEFERRED DEBITS AND OTHER ASSETS: | |||||||||||
Regulatory assets: | |||||||||||
Other regulatory assets (includes securitization property of | |||||||||||
$49,579 as of December 31, 2021, $119,238 as of | |||||||||||
December 31, 2020 and $239,219 as of December 31, 2019) | 6,613,256 | 6,076,549 | 5,292,055 | ||||||||
Deferred fuel costs | 240,953 | 240,422 | 239,892 | ||||||||
Goodwill | 377,172 | 377,172 | 377,172 | ||||||||
Accumulated deferred income taxes | 54,186 | 76,289 | 64,461 | ||||||||
Other | 269,873 | 245,339 | 288,301 | ||||||||
Total | 7,555,440 | 7,015,771 | 6,261,881 | ||||||||
TOTAL ASSETS | $59,454,242 | $58,239,212 | $51,723,912 | ||||||||
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED BALANCE SHEETS (unaudited) | |||||||||||
In thousands, as of December 31, | 2021 | 2020 | 2019 | ||||||||
LIABILITIES AND EQUITY | |||||||||||
CURRENT LIABILITIES: | |||||||||||
Currently maturing long-term debt | $1,039,329 | $1,164,015 | $795,012 | ||||||||
Notes payable and commercial paper | 1,201,177 | 1,627,489 | 1,946,727 | ||||||||
Accounts payable | 2,610,132 | 2,739,437 | 1,499,861 | ||||||||
Customer deposits | 395,184 | 401,512 | 409,171 | ||||||||
Taxes accrued | 419,828 | 441,011 | 233,455 | ||||||||
Interest accrued | 191,151 | 201,791 | 194,129 | ||||||||
Deferred fuel costs | 7,607 | 153,113 | 197,687 | ||||||||
Pension and other postretirement liabilities | 68,336 | 61,815 | 66,184 | ||||||||
Current portion of unprotected excess accumulated deferred income taxes | 53,385 | 63,683 | 76,457 | ||||||||
Other | 204,613 | 206,640 | 201,780 | ||||||||
Total | 6,190,742 | 7,060,506 | 5,620,463 | ||||||||
NON-CURRENT LIABILITIES: | |||||||||||
Accumulated deferred income taxes and taxes accrued | 4,706,797 | 4,361,772 | 4,401,190 | ||||||||
Accumulated deferred investment tax credits | 211,975 | 212,494 | 207,113 | ||||||||
Regulatory liability for income taxes - net | 1,255,692 | 1,521,757 | 1,633,159 | ||||||||
Other regulatory liabilities | 2,643,845 | 2,323,851 | 1,961,005 | ||||||||
Decommissioning and asset retirement cost liabilities | 4,757,084 | 6,469,452 | 6,159,212 | ||||||||
Accumulated provisions | 157,122 | 242,835 | 534,028 | ||||||||
Pension and other postretirement liabilities | 1,949,325 | 2,853,013 | 2,798,265 | ||||||||
Long-term debt (includes securitization bonds | |||||||||||
of $83,639 as of December 31, 2021, $174,635 as of | |||||||||||
December 31, 2020 and $297,981 as of December 31, 2019) | 24,841,572 | 21,205,761 | 17,078,643 | ||||||||
Other | 815,284 | 807,219 | 852,749 | ||||||||
Total | 41,338,696 | 39,998,154 | 35,625,364 | ||||||||
Commitments and Contingencies | |||||||||||
Subsidiaries' preferred stock without sinking fund | 219,410 | 219,410 | 219,410 | ||||||||
EQUITY: | |||||||||||
Preferred stock, no par value, authorized 1,000,000 shares in 2021 and 0 shares | |||||||||||
in 2020 and 2019; issued shares in 2021, 2020, and 2019 - none | — | — | — | ||||||||
Common stock, $0.01 par value, authorized 499,000,000 in 2021 and 500,000,000 | |||||||||||
shares in 2020 and 2019; issued 271,965,510 shares in 2021 and | |||||||||||
issued 270,035,180 shares in 2020 and in 2019 | 2,720 | 2,700 | 2,700 | ||||||||
Paid-in capital | 6,766,239 | 6,549,923 | 6,564,436 | ||||||||
Retained earnings | 10,240,552 | 9,897,182 | 9,257,609 | ||||||||
Accumulated other comprehensive loss | (332,528) | (449,207) | (446,920) | ||||||||
Less – treasury stock, at cost (69,312,326 shares in 2021, | |||||||||||
69,790,346 shares in 2020, and 70,886,400 shares in 2019) | 5,039,699 | 5,074,456 | 5,154,150 | ||||||||
Total common shareholders' equity | 11,637,284 | 10,926,142 | 10,223,675 | ||||||||
Subsidiaries' preferred stock without sinking fund and noncontrolling interest | 68,110 | 35,000 | 35,000 | ||||||||
Total | 11,705,394 | 10,961,142 | 10,258,675 | ||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $59,454,242 | $58,239,212 | $51,723,912 | ||||||||
Totals may not foot due to rounding. |
FINANCIAL RESULTS | ||||||||||||||
2021 CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||
ENTERGY | ||||||||||||||
In thousands, as of December 31, 2021 | UTILITY | PARENT & OTHER | EWC | CONSOLIDATED | ||||||||||
ASSETS | ||||||||||||||
CURRENT ASSETS: | ||||||||||||||
Cash and cash equivalents: | ||||||||||||||
Cash | $40,303 | $3,144 | $1,497 | $44,944 | ||||||||||
Temporary cash investments | 270,947 | 8,126 | 118,542 | 397,615 | ||||||||||
Total cash and cash equivalents | 311,250 | 11,270 | 120,039 | 442,559 | ||||||||||
Notes receivable | — | (84,000) | 84,000 | — | ||||||||||
Accounts receivable: | ||||||||||||||
Customer | 747,423 | — | 39,443 | 786,866 | ||||||||||
Allowance for doubtful accounts | (68,608) | — | — | (68,608) | ||||||||||
Associated companies | 12,448 | (13,069) | 621 | — | ||||||||||
Other | 137,817 | 345 | 93,681 | 231,843 | ||||||||||
Accrued unbilled revenues | 420,255 | — | — | 420,255 | ||||||||||
Total accounts receivable | 1,249,335 | (12,724) | 133,745 | 1,370,356 | ||||||||||
Deferred fuel costs | 324,394 | — | — | 324,394 | ||||||||||
Fuel inventory – at average cost | 149,817 | — | 4,758 | 154,575 | ||||||||||
Materials and supplies – at average cost | 1,022,137 | — | 19,378 | 1,041,515 | ||||||||||
Deferred nuclear refueling outage costs | 115,024 | — | 18,398 | 133,422 | ||||||||||
Prepayments and other | 162,559 | (16,251) | 10,466 | 156,774 | ||||||||||
Total | 3,334,516 | (101,705) | 390,784 | 3,623,595 | ||||||||||
OTHER PROPERTY AND INVESTMENTS: | ||||||||||||||
Investment in affiliates | 1,482,963 | (1,483,049) | 22,090 | 22,004 | ||||||||||
Decommissioning trust funds | 4,938,194 | — | 575,822 | 5,514,016 | ||||||||||
Non-utility property – at cost (less accumulated depreciation) | 344,427 | (14) | 13,163 | 357,576 | ||||||||||
Other | 82,118 | 46,339 | 8,994 | 137,451 | ||||||||||
Total | 6,847,702 | (1,436,724) | 620,069 | 6,031,047 | ||||||||||
PROPERTY, PLANT AND EQUIPMENT: | ||||||||||||||
Electric | 63,775,441 | 10,869 | 476,940 | 64,263,250 | ||||||||||
Natural gas | 658,989 | — | — | 658,989 | ||||||||||
Construction work in progress | 1,510,840 | 257 | 869 | 1,511,966 | ||||||||||
Nuclear fuel | 562,910 | — | 14,096 | 577,006 | ||||||||||
Total property, plant and equipment | 66,508,180 | 11,126 | 491,905 | 67,011,211 | ||||||||||
Less – accumulated depreciation and amortization | 24,346,483 | 5,968 | 414,600 | 24,767,051 | ||||||||||
Property, plant and equipment – net | 42,161,697 | 5,158 | 77,305 | 42,244,160 | ||||||||||
DEFERRED DEBITS AND OTHER ASSETS: | ||||||||||||||
Regulatory assets: | ||||||||||||||
Other regulatory assets | 6,613,256 | — | — | 6,613,256 | ||||||||||
Deferred fuel costs | 240,953 | — | — | 240,953 | ||||||||||
Goodwill | 374,099 | — | 3,073 | 377,172 | ||||||||||
Accumulated deferred income taxes | 47,641 | 59 | 6,486 | 54,186 | ||||||||||
Other | 113,761 | 11,154 | 144,958 | 269,873 | ||||||||||
Total | 7,389,710 | 11,213 | 154,517 | 7,555,440 | ||||||||||
TOTAL ASSETS | 59,733,625 | (1,522,058) | 1,242,675 | 59,454,242 | ||||||||||
TOTAL ASSETS | $55,940,153 | ($1,501,319) | $3,800,378 | $58,239,212 | ||||||||||
Totals may not foot due to rounding. | ||||||||||||||
FINANCIAL RESULTS | ||||||||||||||
2021 CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||
ENTERGY | ||||||||||||||
In thousands, as of December 31, 2021 | UTILITY | PARENT & OTHER | EWC | CONSOLIDATED | ||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||
Currently maturing long-term debt | $250,329 | $650,000 | $139,000 | $1,039,329 | ||||||||||
Notes payable and commercial paper: | ||||||||||||||
Other | — | 1,201,177 | — | 1,201,177 | ||||||||||
Accounts payable: | ||||||||||||||
Associated companies | 38,168 | (41,588) | 3,420 | — | ||||||||||
Other | 2,544,419 | 77 | 65,636 | 2,610,132 | ||||||||||
Customer deposits | 395,184 | — | — | 395,184 | ||||||||||
Taxes accrued | 417,949 | 3,680 | (1,801) | 419,828 | ||||||||||
Interest accrued | 166,149 | 24,506 | 496 | 191,151 | ||||||||||
Deferred fuel costs | 7,607 | — | — | 7,607 | ||||||||||
Pension and other postretirement liabilities | 55,528 | — | 12,808 | 68,336 | ||||||||||
Current portion of unprotected excess accumulated deferred | ||||||||||||||
income taxes | 53,385 | — | — | 53,385 | ||||||||||
Other | 190,473 | 1,893 | 12,247 | 204,613 | ||||||||||
Total | 4,119,191 | 1,839,745 | 231,806 | 6,190,742 | ||||||||||
NON-CURRENT LIABILITIES: | ||||||||||||||
Accumulated deferred income taxes and taxes accrued | 5,737,096 | (477,484) | (552,815) | 4,706,797 | ||||||||||
Accumulated deferred investment tax credits | 211,975 | — | — | 211,975 | ||||||||||
Regulatory liability for income taxes - net | 1,255,692 | — | — | 1,255,692 | ||||||||||
Other regulatory liabilities | 2,643,845 | — | — | 2,643,845 | ||||||||||
Decommissioning and retirement cost liabilities | 4,074,078 | — | 683,006 | 4,757,084 | ||||||||||
Accumulated provisions | 156,823 | — | 299 | 157,122 | ||||||||||
Pension and other postretirement liabilities | 1,601,648 | — | 347,677 | 1,949,325 | ||||||||||
Long-term debt | 20,675,567 | 4,166,005 | — | 24,841,572 | ||||||||||
Other | 1,207,314 | (453,928) | 61,898 | 815,284 | ||||||||||
Total | 37,564,038 | 3,234,593 | 540,065 | 41,338,696 | ||||||||||
Subsidiaries' preferred stock without sinking fund | 195,161 | — | 24,249 | 219,410 | ||||||||||
EQUITY: | ||||||||||||||
Preferred stock, no par value, authorized 1,000,000 shares; | ||||||||||||||
issued shares in 2021 - none | — | — | — | — | ||||||||||
Common stock, $.01 par value, authorized 499,000,000 shares; | ||||||||||||||
issued 271,965,510 shares in 2021 | 2,323,748 | (2,522,131) | 201,103 | 2,720 | ||||||||||
Paid-in capital | 4,482,797 | 1,314,411 | 969,031 | 6,766,239 | ||||||||||
Retained earnings | 11,149,232 | (465,227) | (443,453) | 10,240,552 | ||||||||||
Accumulated other comprehensive income (loss) | (52,402) | — | (280,126) | (332,528) | ||||||||||
Less – treasury stock, at cost (69,312,326 shares in 2021) | 120,000 | 4,919,699 | — | 5,039,699 | ||||||||||
Total common shareholders' equity | 17,783,375 | (6,592,646) | 446,555 | 11,637,284 | ||||||||||
Subsidiaries' preferred stock without sinking fund | ||||||||||||||
and noncontrolling interest | 71,860 | (3,750) | — | 68,110 | ||||||||||
Total | 17,855,235 | (6,596,396) | 446,555 | 11,705,394 | ||||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $59,733,625 | ($1,522,058) | $1,242,675 | $59,454,242 | ||||||||||
Totals may not foot due to rounding. |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited) | |||||||||||
In thousands, for the years ended December 31, | 2021 | 2020 | 2019 | ||||||||
OPERATING ACTIVITIES: | |||||||||||
Consolidated net income (loss) | $1,118,719 | $1,406,653 | $1,258,244 | ||||||||
Adjustments to reconcile consolidated net income (loss) | |||||||||||
to net cash flow provided by operating activities: | |||||||||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 2,242,944 | 2,257,750 | 2,182,313 | ||||||||
Deferred income taxes, investment tax credits, and non-current taxes accrued | 248,719 | (131,114) | 193,950 | ||||||||
Asset write-offs, impairments, and related charges | 263,599 | 26,379 | 226,678 | ||||||||
Changes in working capital: | |||||||||||
Receivables | (84,629) | (139,296) | (101,227) | ||||||||
Fuel inventory | 18,359 | (27,458) | (28,173) | ||||||||
Accounts payable | 269,797 | 137,457 | (71,898) | ||||||||
Taxes accrued | (21,183) | 207,556 | (20,784) | ||||||||
Interest accrued | (10,640) | 7,662 | 937 | ||||||||
Deferred fuel costs | (466,050) | (49,484) | 172,146 | ||||||||
Other working capital accounts | (53,883) | (143,451) | (3,108) | ||||||||
Changes in provisions for estimated losses | (85,713) | (291,193) | 19,914 | ||||||||
Changes in other regulatory assets | (536,707) | (784,494) | (545,559) | ||||||||
Changes in other regulatory liabilities | 43,631 | 238,669 | (14,781) | ||||||||
Changes in pensions and other postretirement liabilities | (897,167) | 50,379 | 187,124 | ||||||||
Other | 250,917 | (76,149) | (639,149) | ||||||||
Net cash flow provided by operating activities | 2,300,713 | 2,689,866 | 2,816,627 | ||||||||
INVESTING ACTIVITIES: | |||||||||||
Construction/capital expenditures | (6,087,296) | (4,694,076) | (4,197,667) | ||||||||
Allowance for equity funds used during construction | 70,473 | 119,430 | 144,862 | ||||||||
Nuclear fuel purchases | (166,512) | (215,664) | (128,366) | ||||||||
Payment for purchase of plant or assets | (168,304) | (247,121) | (305,472) | ||||||||
Net proceeds from sale of assets | 17,421 | — | 28,932 | ||||||||
Insurance proceeds received for property damages | — | — | 7,040 | ||||||||
Changes in securitization account | 13,669 | 5,099 | 3,298 | ||||||||
Payments to storm reserve escrow account | (25) | (2,273) | (8,038) | ||||||||
Receipts from storm reserve escrow account | 83,105 | 297,588 | — | ||||||||
Decrease (increase) in other investments | 2,343 | (12,755) | 30,319 | ||||||||
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 49,236 | 72,711 | 2,369 | ||||||||
Proceeds from nuclear decommissioning trust fund sales | 5,553,629 | 3,107,812 | 4,121,351 | ||||||||
Investment in nuclear decommissioning trust funds | (5,547,015) | (3,203,057) | (4,208,870) | ||||||||
Net cash flow used in investing activities | (6,179,276) | (4,772,306) | (4,510,242) | ||||||||
FINANCING ACTIVITIES: | |||||||||||
Proceeds from the issuance of: | |||||||||||
Long-term debt | 8,308,427 | 12,619,201 | 9,304,396 | ||||||||
Preferred stock of subsidiary | — | — | 33,188 | ||||||||
Treasury stock | 5,977 | 42,600 | 93,862 | ||||||||
Common stock | 200,776 | — | 607,650 | ||||||||
Retirement of long-term debt | (4,827,827) | (8,152,378) | (7,619,380) | ||||||||
Repurchase/redemptions of preferred stock | — | — | (50,000) | ||||||||
Changes in credit borrowings and commercial paper – net | (426,312) | (319,238) | 4,389 | ||||||||
Contribution from noncontrolling interest | 51,202 | — | — | ||||||||
Other | 43,221 | (7,524) | (7,732) | ||||||||
Dividends paid: | |||||||||||
Common stock | (775,122) | (748,342) | (711,573) | ||||||||
Preferred stock | (18,319) | (18,502) | (16,438) | ||||||||
Net cash flow provided by financing activities | 2,562,023 | 3,415,817 | 1,638,362 | ||||||||
Net increase (decrease) in cash and cash equivalents | (1,316,540) | 1,333,377 | (55,253) | ||||||||
Cash and cash equivalents at beginning of period | 1,759,099 | 425,722 | 480,975 | ||||||||
Cash and cash equivalents at end of period | $442,559 | $1,759,099 | $425,722 |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited) | |||||||||||
$ thousands, for the years ended December 31, | 2021 | 2020 | 2019 | ||||||||
SUPPLEMENTAL DISCLOSURE OF | |||||||||||
CASH FLOW INFORMATION: | |||||||||||
Cash paid (received) during the period for: | |||||||||||
Interest – net of amount capitalized | 843,228 | 803,923 | 778,209 | ||||||||
Income taxes | 98,377 | (31,228) | (40,435) |
CASH FLOW INFORMATION BY BUSINESS | |||||||||||||||||
PARENT & | ENTERGY | ||||||||||||||||
For the years ended December 31, 2021, 2020, and 2019. | UTILITY | OTHER | EWC | CONSOLIDATED | |||||||||||||
($ thousands) | |||||||||||||||||
2021 | |||||||||||||||||
Net cash flow provided by (used in) operating activities | 2,646,191 | (237,901) | (107,577) | 2,300,713 | |||||||||||||
Net cash flow provided by (used in) investing activities | (6,210,313) | (8,493) | 39,530 | (6,179,276) | |||||||||||||
Net cash flow provided by (used in) financing activities | 2,349,357 | 201,628 | 11,038 | 2,562,023 | |||||||||||||
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 | |||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||
FINANCIAL RESULTS | |||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) | |||||||||||||||||||||||
Common Shareholders’ Equity | |||||||||||||||||||||||
($ thousands) | Subsidiaries’ Preferred Stock and Noncontrolling Interest | Common Stock | Treasury Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | ||||||||||||||||
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 | ||||||||||||||||
Consolidated net income (loss) (a) | 227 | — | — | — | 1,118,492 | — | 1,118,719 | ||||||||||||||||
Other comprehensive income | — | — | — | — | — | 116,679 | 116,679 | ||||||||||||||||
Common stock issuances and sales under the at the | |||||||||||||||||||||||
market equity distribution program | — | 20 | — | 204,194 | — | — | 204,214 | ||||||||||||||||
Common stock issuance costs | — | — | — | (3,438) | — | — | (3,438) | ||||||||||||||||
Common stock issuances related to stock plans | — | — | 34,757 | 15,560 | — | — | 50,317 | ||||||||||||||||
Common stock dividends declared | — | — | — | — | (775,122) | — | (775,122) | ||||||||||||||||
Capital contributions from noncontrolling interest | 51,202 | — | — | — | — | — | 51,202 | ||||||||||||||||
Preferred dividend requirements of subsidiaries (a) | (18,319) | — | — | — | — | — | (18,319) | ||||||||||||||||
Balance at December 31, 2021 | 33,110 | 20 | 34,757 | 216,316 | 343,370 | 116,679 | 744,252 | ||||||||||||||||
(a) Consolidated net income and preferred dividend requirements of subsidiaries include $16 million for 2021, 2020, and 2019 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, | 2021 | 2020 | 2019 | ||||||||
NET INCOME (LOSS) | $1,118,719 | $1,406,653 | $1,258,244 | ||||||||
Other comprehensive income (loss) | |||||||||||
Cash flow hedges net unrealized gain (loss) | |||||||||||
(net of tax expense (benefit) of ($7,935), ($14,776), and $28,516 for 2021 to 2019, respectively) | (29,754) | (55,487) | 115,026 | ||||||||
Pension and other postretirement liabilities | |||||||||||
(net of tax expense (benefit) of $55,161, $5,600, and ($6,539) for 2021 to 2019, respectively) | 195,929 | 22,496 | (25,150) | ||||||||
Net unrealized investment gains (losses) | |||||||||||
(net of tax expense (benefit) of ($28,435), $17,586, and $14,023 for 2021 to 2019, respectively) | (49,496) | 30,704 | 27,183 | ||||||||
Other comprehensive income (loss) | 116,679 | (2,287) | 117,059 | ||||||||
COMPREHENSIVE INCOME (LOSS) | 1,235,398 | 1,404,366 | 1,375,303 | ||||||||
Preferred dividend requirements of subsidiaries and noncontrolling interest | 227 | 18,319 | 17,018 | ||||||||
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION | $1,235,171 | $1,386,047 | $1,358,285 | ||||||||
CONSOLIDATED CAPITAL EXPENDITURES | |||||||||||||||||
HISTORICAL CAPITAL EXPENDITURES | |||||||||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||||||||
Utility | |||||||||||||||||
Generation | $ | 1,134 | $ | 1,218 | $ | 1,781 | |||||||||||
Transmission | 831 | 978 | 1,030 | ||||||||||||||
Distribution | 3,477 | 1,949 | 1,114 | ||||||||||||||
Other | 636 | 522 | 504 | ||||||||||||||
Entergy Wholesale Commodities | 9 | 26 | 74 | ||||||||||||||
Total Historical Capital Expenditures | $ | 6,087 | $ | 4,694 | $ | 4,503 |
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 | 2021 | 2020 | |||||||||||||||||
$3.5B Bank Credit Facility | 1.60 | % | 06/26 (b) | $ | 165.00 | $ | 165.00 | ||||||||||||||||
Commercial Paper (a) | 0.28 | % | 1,201 | 1,627 | |||||||||||||||||||
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 | 600 | |||||||||||||||
29364GAL7 | 2.80% Notes | 2.80 | % | 06/30 | Now | MW (T+.35%) | 600 | 600 | |||||||||||||||
29364GAM5 | 0.90% Notes | 0.90 | % | 09/25 | Now | MW (T+.125%) | 800 | 800 | |||||||||||||||
29364GAN3 | 1.90% Notes | 1.90 | % | 06/28 | Now | MW (T+.15%) | 650 | — | |||||||||||||||
29364GAP8 | 2.40% Notes | 2.40 | % | 06/31 | Now | MW (T+.20%) | 650 | — | |||||||||||||||
Total | $ | 6,066 | $ | 5,192 | |||||||||||||||||||
(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 June 2021. |
SECURITIES RATINGS (OUTLOOK) | ||||||||||||||||||||
ISSUER RATING | CORPORATE CREDIT | |||||||||||||||||||
As of 12/31/21 | MOODY’S | S&P | ||||||||||||||||||
Entergy Corporation | Baa2 (negative) | BBB+ (stable) |
CALL PRICE | ||||||||||||||||||||||||||
AS OF | PER SHARE | |||||||||||||||||||||||||
PREFERRED MEMBER INTERESTS | DECEMBER 31, | AS OF DECEMBER 31, | ||||||||||||||||||||||||
CUSIP | DESCRIPTION | RATE | 2021 | 2020 | 2021 | |||||||||||||||||||||
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 $100 per unit. The preferred membership interests are callable at the option of Entergy Holdings Company LLC after ten years under the terms of the LLC agreement. | ||||||||||||||||||||||||||
Totals may not foot due to rounding. |
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UTILITY SELECTED DATA | |||||||||||||||||||||||||||||||||||
UTILITY QUARTERLY FINANCIAL METRICS | |||||||||||||||||||||||||||||||||||
2021 | 2020 | FY % | |||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | |||||||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||||||||||||||
As-reported net income applicable to common stock/equity ($ millions) | 357 | 326 | 570 | 238 | 1,490 | 320 | 345 | 552 | 584 | 1,800 | (17.2) | ||||||||||||||||||||||||
ROE – as-reported (%)(a) | 11.9 | 11.5 | 11.3 | 8.8 | 8.8 | 11.1 | 11.0 | 10.4 | 12.0 | 12.0 | (26.7) | ||||||||||||||||||||||||
Debt to capital Ratio (%) | 54.3 | 53.4 | 52.7 | 53.8 | 53.8 | 53.2 | 52.9 | 52.6 | 53.3 | 53.3 | 0.9 | ||||||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||||||||||||||
Adjusted earnings ($ millions) | 357 | 326 | 559 | 222 | 1,463 | 320 | 345 | 552 | 206 | 1,423 | 2.8 | ||||||||||||||||||||||||
ROE – adjusted (%)(a) | 9.4 | 9.1 | 8.9 | 8.6 | 8.6 | 10.8 | 10.7 | 10.1 | 9.5 | 9.5 | (9.5) | ||||||||||||||||||||||||
Debt to capital ratio, excluding securitization debt (%) | 54.1 | 53.2 | 52.5 | 53.7 | 53.7 | 52.8 | 52.6 | 52.3 | 53.1 | 53.1 | 1.1 | ||||||||||||||||||||||||
Net debt to net capital ratio, excluding securitization debt (%) | 52.8 | 52.6 | 51.7 | 53.3 | 53.3 | 51.2 | 51.5 | 50.9 | 51.0 | 51.0 | 4.5 | ||||||||||||||||||||||||
(a) Rolling twelve months. Totals may not foot due to rounding. |
UTILITY ANNUAL FINANCIAL METRICS | ||||||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||
GAAP MEASURES | ||||||||||||||||||||
As-reported net income applicable to common stock/equity ($ millions) | 1,490 | 1,800 | 1,411 | |||||||||||||||||
ROE – as-reported (%)(a) | 8.8�� | 12.0 | 10.7 | |||||||||||||||||
Debt to capital ratio (%) | 53.8 | 53.3 | 52.4 | |||||||||||||||||
NON-GAAP MEASURES | ||||||||||||||||||||
Adjusted earnings ($ millions) | 1,463 | 1,423 | 1,369 | |||||||||||||||||
ROE – adjusted (%)(a) | 8.6 | 9.5 | 10.4 | |||||||||||||||||
Debt to capital ratio, excluding securitization debt (%) | 53.7 | 53.1 | 51.9 | |||||||||||||||||
Net debt to net capital ratio, excluding securitization debt (%) | 53.3 | 51.0 | 51.6 | |||||||||||||||||
(a) Rolling twelve months. Totals may not foot due to rounding. |
UTILITY SECURITIES RATINGS (OUTLOOK) | |||||||||||||||||
MORTGAGE BONDS | |||||||||||||||||
As of 5/3/22 | MOODY’S | S&P | |||||||||||||||
Entergy Arkansas, LLC | A2 (positive) | A (stable) | |||||||||||||||
Entergy Louisiana, LLC | A2 (negative) | A (stable) | |||||||||||||||
Entergy Mississippi, LLC | A2 (positive) | A (stable) | |||||||||||||||
Entergy New Orleans, LLC | Baa2 (negative) | BBB (developing) | |||||||||||||||
Entergy Texas, Inc. | A3 (stable) | A (stable) | |||||||||||||||
System Energy Resources, Inc. | Baa1 (negative) | A (stable) | |||||||||||||||
UTILITY HISTORICAL CAPITAL EXPENDITURES(a) | ||||||||||||||||||||
($ millions) | 2021 | 2020 | 2019 | |||||||||||||||||
Entergy Arkansas | 723 | 776 | 642 | |||||||||||||||||
Entergy Louisiana | 3,622 | 1,961 | 1,673 | |||||||||||||||||
Entergy Mississippi | 654 | 555 | 738 | |||||||||||||||||
Entergy New Orleans | 220 | 229 | 230 | |||||||||||||||||
Entergy Texas | 703 | 896 | 898 | |||||||||||||||||
System Energy Resources | 100 | 194 | 167 | |||||||||||||||||
Other(b) | 56 | 57 | 82 | |||||||||||||||||
Total | 6,078 | 4,668 | 4,430 | |||||||||||||||||
(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 | ||||||||||||||||||||||||||
2021 UTILITY CONSOLIDATING INCOME STATEMENT (unaudited) | ||||||||||||||||||||||||||
OTHER/ | ||||||||||||||||||||||||||
In thousands, for the year ending December 31, 2021. | E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS(a) | UTILITY | ||||||||||||||||||
OPERATING REVENUES: | ||||||||||||||||||||||||||
Electric | $2,338,590 | $4,994,459 | $1,406,346 | $672,231 | $1,902,511 | $570,848 | ($1,010,921) | $10,874,064 | ||||||||||||||||||
Natural gas | — | 73,989 | — | 96,621 | — | — | — | 170,610 | ||||||||||||||||||
Total | 2,338,590 | 5,068,448 | 1,406,346 | 768,852 | 1,902,511 | 570,848 | (1,010,921) | 11,044,674 | ||||||||||||||||||
OPERATING EXPENSES: | ||||||||||||||||||||||||||
Operation and maintenance: | ||||||||||||||||||||||||||
Fuel, fuel-related expenses, and gas purchased for resale | 347,166 | 1,302,291 | 181,511 | 150,018 | 335,742 | 58,313 | 415 | 2,375,456 | ||||||||||||||||||
Purchased power | 280,504 | 768,546 | 298,034 | 268,568 | 588,941 | — | (1,005,838) | 1,198,755 | ||||||||||||||||||
Nuclear refueling outage expenses | 51,141 | 49,373 | — | — | — | 27,244 | — | 127,758 | ||||||||||||||||||
Other operation and maintenance | 687,418 | 1,034,427 | 298,129 | 145,377 | 281,713 | 214,322 | (4,361) | 2,657,025 | ||||||||||||||||||
Decommissioning | 77,696 | 68,575 | — | — | — | 38,693 | 1,274 | 186,238 | ||||||||||||||||||
Taxes other than income taxes | 127,249 | 224,079 | 111,712 | 53,569 | 94,989 | 27,842 | 3,164 | 642,604 | ||||||||||||||||||
Depreciation and amortization | 361,479 | 656,132 | 226,545 | 73,480 | 214,838 | 105,978 | (1,301) | 1,637,151 | ||||||||||||||||||
Other regulatory charges (credits) – net | (31,501) | 38,245 | 5,913 | 13,177 | 59,581 | 26,214 | (1) | 111,628 | ||||||||||||||||||
Total | 1,901,152 | 4,141,668 | 1,121,844 | 704,189 | 1,575,804 | 498,606 | (1,006,648) | 8,936,615 | ||||||||||||||||||
OPERATING INCOME | 437,438 | 926,780 | 284,502 | 64,663 | 326,707 | 72,242 | (4,273) | 2,108,059 | ||||||||||||||||||
OTHER INCOME (DEDUCTIONS): | ||||||||||||||||||||||||||
Allowance for equity funds used during construction | 15,273 | 28,648 | 8,101 | 2,371 | 9,892 | 6,188 | — | 70,473 | ||||||||||||||||||
Interest and investment income | 76,953 | 282,200 | 53 | 48 | 837 | 82,744 | (18) | 442,817 | ||||||||||||||||||
Miscellaneous – net | (22,278) | (125,886) | (8,791) | (1,240) | 721 | (18,991) | (184) | (176,649) | ||||||||||||||||||
Total | 69,948 | 184,962 | (637) | 1,179 | 11,450 | 69,941 | (202) | 336,641 | ||||||||||||||||||
INTEREST EXPENSE: | ||||||||||||||||||||||||||
Interest expense | 140,348 | 350,227 | 75,124 | 29,164 | 87,787 | 38,393 | (21) | 721,022 | ||||||||||||||||||
Allowance for borrowed funds used during construction | (6,641) | (12,878) | (3,416) | (1,056) | (3,980) | (1,047) | — | (29,018) | ||||||||||||||||||
Total | 133,707 | 337,349 | 71,708 | 28,108 | 83,807 | 37,346 | (21) | 692,004 | ||||||||||||||||||
INCOME BEFORE INCOME TAXES | 373,679 | 774,393 | 212,157 | 37,734 | 254,350 | 104,837 | (4,454) | 1,752,696 | ||||||||||||||||||
Income taxes | 75,195 | 120,409 | 45,323 | 5,936 | 25,526 | (1,977) | (6,203) | 264,209 | ||||||||||||||||||
NET INCOME | 298,484 | 653,984 | 166,834 | 31,798 | 228,824 | 106,814 | 1,749 | 1,488,487 | ||||||||||||||||||
Preferred dividend requirements of subsidiaries and noncontrolling interest | (18,092) | — | — | — | 1,909 | — | 14,250 | (1,933) | ||||||||||||||||||
EARNINGS APPLICABLE TO | ||||||||||||||||||||||||||
COMMON STOCK / EQUITY | $316,576 | $653,984 | $166,834 | $31,798 | $226,915 | $106,814 | ($12,501) | $1,490,420 | ||||||||||||||||||
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 | ||||||||||||||||||||||||||
2021 UTILITY CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||||||||||||||
OTHER/ | ||||||||||||||||||||||||||
In thousands, as of December 31, 2021. | E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS(a) | UTILITY | ||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||
CURRENT ASSETS: | ||||||||||||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||||||||
Cash | $8,155 | $195 | $29 | $26 | $28 | $87 | $31,783 | $40,303 | ||||||||||||||||||
Temporary cash investments | 4,760 | 18,378 | 47,598 | 42,836 | — | 89,114 | 68,261 | 270,947 | ||||||||||||||||||
Total cash and cash equivalents | 12,915 | 18,573 | 47,627 | 42,862 | 28 | 89,201 | 100,044 | 311,250 | ||||||||||||||||||
Securitization recovery trust account | — | — | — | 1,999 | 26,629 | — | (28,628) | — | ||||||||||||||||||
Accounts receivable: | ||||||||||||||||||||||||||
Customer | 154,412 | 355,265 | 84,048 | 69,902 | 83,797 | — | (1) | 747,423 | ||||||||||||||||||
Allowance for doubtful accounts | (13,072) | (29,231) | (7,209) | (13,282) | (5,814) | — | — | (68,608) | ||||||||||||||||||
Associated companies | 29,587 | 96,539 | 42,994 | 74,146 | 31,720 | 118,977 | (381,515) | 12,448 | ||||||||||||||||||
Other | 51,064 | 36,674 | 14,609 | 13,668 | 13,404 | 7,003 | 1,395 | 137,817 | ||||||||||||||||||
Accrued unbilled revenues | 101,663 | 174,768 | 56,034 | 25,550 | 62,241 | — | (1) | 420,255 | ||||||||||||||||||
Total accounts receivable | 323,654 | 634,015 | 190,476 | 169,984 | 185,348 | 125,980 | (380,122) | 1,249,335 | ||||||||||||||||||
Deferred fuel costs | 108,862 | 45,374 | 121,878 | — | 48,280 | — | — | 324,394 | ||||||||||||||||||
Fuel inventory – at average cost | 50,892 | 42,958 | 10,311 | 2,945 | 42,712 | — | (1) | 149,817 | ||||||||||||||||||
Materials and supplies – at average cost | 247,980 | 485,325 | 69,639 | 19,216 | 72,884 | 127,093 | — | 1,022,137 | ||||||||||||||||||
Deferred nuclear refueling outage costs | 65,318 | 39,582 | — | — | — | 10,123 | 1 | 115,024 | ||||||||||||||||||
Prepayments and other | 14,863 | 44,187 | 6,394 | 5,428 | 17,515 | 1,870 | 72,302 | 162,559 | ||||||||||||||||||
Total | 824,484 | 1,310,014 | 446,325 | 242,434 | 393,396 | 354,267 | (236,404) | 3,334,516 | ||||||||||||||||||
OTHER PROPERTY AND INVESTMENTS: | ||||||||||||||||||||||||||
Investment in affiliates | — | 1,390,587 | — | — | 300 | — | 92,076 | 1,482,963 | ||||||||||||||||||
Decommissioning trust funds | 1,438,416 | 2,114,523 | — | — | — | 1,385,254 | 1 | 4,938,194 | ||||||||||||||||||
Non-utility property – at cost (less accumulated depreciation) | — | 337,247 | 4,527 | 1,016 | 376 | — | 1,261 | 344,427 | ||||||||||||||||||
Escrow accounts | — | — | 48,886 | — | — | — | (48,886) | — | ||||||||||||||||||
Other | 947 | 13,744 | — | — | 18,128 | — | 49,299 | 82,118 | ||||||||||||||||||
Total | 1,439,363 | 3,856,101 | 53,413 | 1,016 | 18,804 | 1,385,254 | 93,751 | 6,847,702 | ||||||||||||||||||
UTILITY PLANT | ||||||||||||||||||||||||||
Electric | 13,578,297 | 28,055,038 | 6,613,109 | 1,976,202 | 7,181,567 | 5,362,494 | 1,008,734 | 63,775,441 | ||||||||||||||||||
Natural gas | — | 285,006 | — | 373,983 | — | — | — | 658,989 | ||||||||||||||||||
Construction work in progress | 241,127 | 847,924 | 95,452 | 22,199 | 183,965 | 97,968 | 22,205 | 1,510,840 | ||||||||||||||||||
Nuclear fuel | 182,055 | 209,418 | — | — | — | 171,438 | (1) | 562,910 | ||||||||||||||||||
Total utility plant | 14,001,479 | 29,397,386 | 6,708,561 | 2,372,384 | 7,365,532 | 5,631,900 | 1,030,938 | 66,508,180 | ||||||||||||||||||
Less – accumulated depreciation and amortization | 5,472,296 | 9,860,252 | 2,127,590 | 774,309 | 2,049,750 | 3,396,136 | 666,150 | 24,346,483 | ||||||||||||||||||
Utility plant – net | 8,529,183 | 19,537,134 | 4,580,971 | 1,598,075 | 5,315,782 | 2,235,764 | 364,788 | 42,161,697 | ||||||||||||||||||
DEFERRED DEBITS AND OTHER ASSETS: | ||||||||||||||||||||||||||
Regulatory assets: | ||||||||||||||||||||||||||
Other regulatory assets (includes securitization property | ||||||||||||||||||||||||||
of $49,579 as of December 31, 2021) | 1,689,678 | 2,776,666 | 462,432 | 248,617 | 421,333 | 395,546 | 618,984 | 6,613,256 | ||||||||||||||||||
Deferred fuel costs | 68,751 | 168,122 | — | 4,080 | — | — | — | 240,953 | ||||||||||||||||||
Goodwill | — | — | — | — | — | — | 374,099 | 374,099 | ||||||||||||||||||
Accumulated deferred income taxes | — | — | — | — | — | — | 47,641 | 47,641 | ||||||||||||||||||
Other | 13,660 | 27,801 | 14,248 | 56,101 | 112,096 | 1,793 | (111,938) | 113,761 | ||||||||||||||||||
Total | 1,772,089 | 2,972,589 | 476,680 | 308,798 | 533,429 | 397,339 | 928,786 | 7,389,710 | ||||||||||||||||||
TOTAL ASSETS | $12,565,119 | $27,675,838 | $5,557,389 | $2,150,323 | $6,261,411 | $4,372,624 | $1,150,921 | $59,733,625 | ||||||||||||||||||
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 | ||||||||||||||||||||||||||
2021 UTILITY CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||||||||||||||
OTHER/ | ||||||||||||||||||||||||||
In thousands, as of December 31, 2021. | E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS(a) | UTILITY | ||||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||||||||||||||
Currently maturing long-term debt | $— | $200,000 | $— | $— | $— | $50,329 | $— | $250,329 | ||||||||||||||||||
Payable due to associated companies | — | — | — | 1,326 | — | — | (1,326) | — | ||||||||||||||||||
Accounts payable: | ||||||||||||||||||||||||||
Associated companies | 217,310 | 183,172 | 42,929 | 45,057 | 142,929 | 23,682 | (616,911) | 38,168 | ||||||||||||||||||
Other | 190,476 | 1,481,902 | 113,000 | 146,921 | 164,981 | 62,573 | 384,566 | 2,544,419 | ||||||||||||||||||
Customer deposits | 92,511 | 150,697 | 86,167 | 28,539 | 37,271 | — | (1) | 395,184 | ||||||||||||||||||
Taxes accrued | 89,590 | 64,248 | 106,273 | 4,385 | 49,018 | 32,918 | 71,517 | 417,949 | ||||||||||||||||||
Interest accrued | 17,108 | 93,052 | 17,283 | 7,991 | 19,002 | 11,714 | (1) | 166,149 | ||||||||||||||||||
Deferred fuel costs | — | — | — | 7,607 | — | — | — | 7,607 | ||||||||||||||||||
Current portion of unprotected excess accumulated deferred income taxes | — | 24,291 | — | 1,906 | 27,188 | — | 2,143 | 55,528 | ||||||||||||||||||
Pension and other postretirement liabilities | — | — | — | — | — | — | 53,385 | 53,385 | ||||||||||||||||||
Other | 38,901 | 68,995 | 36,731 | 6,204 | 16,120 | 4,101 | 19,421 | 190,473 | ||||||||||||||||||
Total | 645,896 | 2,266,357 | 402,383 | 249,936 | 456,509 | 185,317 | (87,207) | 4,119,191 | ||||||||||||||||||
NON-CURRENT LIABILITIES: | ||||||||||||||||||||||||||
Accumulated deferred income taxes and taxes accrued | 1,416,201 | 2,433,854 | 720,097 | 365,384 | 692,496 | 382,931 | (273,867) | 5,737,096 | ||||||||||||||||||
Accumulated deferred investment tax credits | 29,299 | 102,588 | 10,913 | 16,306 | 9,325 | 43,003 | 541 | 211,975 | ||||||||||||||||||
Regulatory liability for income taxes - net | 431,655 | 313,693 | 212,445 | 40,589 | 144,145 | 113,165 | — | 1,255,692 | ||||||||||||||||||
Other regulatory liabilities | 743,314 | 1,042,597 | 49,313 | — | 37,060 | 744,944 | 26,617 | 2,643,845 | ||||||||||||||||||
Decommissioning and asset retirement cost liabilities | 1,390,410 | 1,653,198 | 10,315 | 4,032 | 8,520 | 1,007,603 | — | 4,074,078 | ||||||||||||||||||
Accumulated provisions | 77,084 | 24,490 | 38,028 | 6,329 | 8,242 | — | 2,650 | 156,823 | ||||||||||||||||||
Pension and other postretirement liabilities | 185,789 | 528,213 | 59,065 | — | — | 76,104 | 752,477 | 1,601,648 | ||||||||||||||||||
Long-term debt (includes securitization bonds | ||||||||||||||||||||||||||
of $83,640 as of December 31, 2021) | 3,958,862 | 10,714,346 | 2,179,989 | 777,254 | 2,354,148 | 690,967 | 1 | 20,675,567 | ||||||||||||||||||
Long-term payable due to associated companies | — | — | — | 9,585 | — | — | (9,585) | — | ||||||||||||||||||
Other | 110,754 | 415,930 | 35,273 | 42,193 | 67,760 | 37,230 | 498,174 | 1,207,314 | ||||||||||||||||||
Total | 8,343,368 | 17,228,909 | 3,315,438 | 1,261,672 | 3,321,696 | 3,095,947 | 997,008 | 37,564,038 | ||||||||||||||||||
Preferred stock without sinking fund | — | — | — | — | — | — | 195,161 | 195,161 | ||||||||||||||||||
EQUITY: | ||||||||||||||||||||||||||
Common stock or member's equity | 3,542,745 | 8,172,294 | 1,839,568 | 638,715 | 49,452 | 951,850 | (12,870,876) | 2,323,748 | ||||||||||||||||||
Paid-in capital | — | — | — | — | 1,050,125 | — | 3,432,672 | 4,482,797 | ||||||||||||||||||
Retained earnings | — | — | — | — | 1,344,879 | 139,510 | 9,664,843 | 11,149,232 | ||||||||||||||||||
Accumulated other comprehensive income (loss) | — | 8,278 | — | — | — | — | (60,680) | (52,402) | ||||||||||||||||||
Noncontrolling interest | 33,110 | — | — | — | — | — | — | — | ||||||||||||||||||
Less – treasury stock, at cost | — | — | — | — | — | — | 120,000 | 120,000 | ||||||||||||||||||
Total common shareholders' equity | 3,575,855 | 8,180,572 | 1,839,568 | 638,715 | 2,444,456 | 1,091,360 | 45,959 | 17,783,375 | ||||||||||||||||||
Preferred stock without sinking fund | — | — | — | — | 38,750 | — | — | 71,860 | ||||||||||||||||||
Total | 3,575,855 | 8,180,572 | 1,839,568 | 638,715 | 2,483,206 | 1,091,360 | 45,959 | 17,855,235 | ||||||||||||||||||
TOTAL LIABILITIES AND EQUITY | $12,565,119 | $27,675,838 | $5,557,389 | $2,150,323 | $6,261,411 | $4,372,624 | $1,150,921 | $59,733,625 | ||||||||||||||||||
Totals may not foot due to rounding. | ||||||||||||||||||||||||||
(a) Primarily reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc. and the elimination of intercompany transactions. |
UTILITY FINANCIAL RESULTS | |||||||||||
UTILITY SELECTED ANNUAL FINANCIAL METRICS | |||||||||||
2021 | 2020 | 2019 | |||||||||
ENTERGY ARKANSAS, LLC | |||||||||||
As-Reported Earnings Applicable to Member's Equity ($ millions) | 317 | 245 | 263 | ||||||||
Less Adjustments ($ millions) | (3) | 6 | — | ||||||||
Adjusted Earnings ($ millions) | 320 | 239 | 263 | ||||||||
GAAP MEASURES | |||||||||||
Return on Average Member's Equity – As-Reported (%) | 9.3 | 7.7 | 8.6 | ||||||||
Debt to Capital (%) | 52.6 | 54.8 | 53.0 | ||||||||
Total Debt ($ millions) | 3,974 | 3,980 | 3,528 | ||||||||
Total Equity ($ millions) | 3,543 | 3,276 | 3,126 | ||||||||
NON-GAAP MEASURES | |||||||||||
Return on Average Member's Equity – Adjusted (%) | 9.4 | 7.5 | 8.6 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 3,974 | 3,980 | 3,522 | ||||||||
Debt to Capital, excluding securitization debt (%) | 52.6 | 54.8 | 53.0 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 52.6 | 53.6 | 53.0 | ||||||||
Totals may not foot due to rounding. | |||||||||||
ENTERGY LOUISIANA, LLC | |||||||||||
As-Reported Net Income ($ millions) | 654 | 1,082 | 692 | ||||||||
Less Adjustments ($ millions) | 17 | 383 | — | ||||||||
Adjusted Net Income ($ millions) | 637 | 699 | 692 | ||||||||
GAAP MEASURES | |||||||||||
Return on Average Common Equity – As-Reported (%) | 8.4 | 15.6 | 11.3 | ||||||||
Debt to Capital (%) | 57.2 | 54.8 | 53.4 | ||||||||
Total Debt ($ millions) | 10,933 | 9,044 | 7,321 | ||||||||
Total Equity ($ millions) | 8,181 | 7,458 | 6,397 | ||||||||
NON-GAAP MEASURES | |||||||||||
Return on Average Common Equity – Adjusted (%) | 8.1 | 10.1 | 11.3 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 10,933 | 9,034 | 7,288 | ||||||||
Debt to Capital, excluding securitization debt (%) | 57.2 | 54.8 | 53.3 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 57.2 | 52.7 | 53.2 | ||||||||
Totals may not foot due to rounding. | |||||||||||
UTILITY FINANCIAL RESULTS | |||||||||||
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED) | |||||||||||
2021 | 2020 | 2019 | |||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||
As-Reported Net Income ($ millions) | 167 | 141 | 120 | ||||||||
Less Adjustments ($ millions) | — | 4 | — | ||||||||
Adjusted Earnings ($ millions) | 167 | 137 | 120 | ||||||||
GAAP MEASURES | |||||||||||
Return on Average Member's Equity – As-Reported (%) | 9.5 | 8.7 | 8.5 | ||||||||
Debt to Capital (%) | 54.3 | 51.7 | 51.2 | ||||||||
Total Debt ($ millions) | 2,189 | 1,788 | 1,621 | ||||||||
Total Equity ($ millions) | 1,840 | 1,673 | 1,542 | ||||||||
NON-GAAP MEASURES | |||||||||||
Return on Average Member's Equity – Adjusted (%) | 9.5 | 8.5 | 8.5 | ||||||||
Net Debt to Net Capital (%) | 53.8 | 51.7 | 50.4 | ||||||||
Totals may not foot due to rounding. | |||||||||||
ENTERGY NEW ORLEANS, LLC | |||||||||||
As-Reported Net Income ($ millions) | 32 | 49 | 53 | ||||||||
Less Adjustments ($ millions) | 2 | (1) | — | ||||||||
Adjusted Earnings ($ millions) | 30 | 50 | 53 | ||||||||
GAAP MEASURES | |||||||||||
Return on Average Member's Equity – As-Reported (%) | 5.1 | 8.9 | 11.3 | ||||||||
Debt to Capital (%) | 55.4 | 51.5 | 53.1 | ||||||||
Total Debt ($ millions) | 792 | 646 | 564 | ||||||||
Total Equity ($ millions) | 639 | 607 | 498 | ||||||||
NON-GAAP MEASURES | |||||||||||
Return on Average Member's Equity – Adjusted (%) | 4.9 | 9.1 | 11.3 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 763 | 604 | 511 | ||||||||
Debt to Capital, excluding securitization debt (%) | 54.4 | 49.9 | 50.7 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 53.0 | 49.9 | 50.4 | ||||||||
Totals may not foot due to rounding. | |||||||||||
ENTERGY TEXAS, INC. | |||||||||||
As-Reported Earnings Applicable to Common Stock ($ millions) | 227 | 213 | 159 | ||||||||
Less Adjustments ($ millions) | — | 2 | — | ||||||||
Adjusted Net Income ($ millions) | 227 | 211 | 159 | ||||||||
GAAP MEASURES | |||||||||||
ROE – As-Reported (%) | 9.9 | 11.0 | 10.0 | ||||||||
Debt to Capital (%) | 48.7 | 53.7 | 51.7 | ||||||||
Total Debt ($ millions) | 2,362 | 2,499 | 1,928 | ||||||||
Total Preferred ($ millions) | 39 | 35 | 35 | ||||||||
Total Common Equity ($ millions) | 2,444 | 2,123 | 1,764 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROE – Adjusted (%) | 9.9 | 10.9 | 10.0 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 2,308 | 2,376 | 1,723 | ||||||||
Debt to Capital, excluding securitization debt (%) | 48.2 | 52.4 | 48.9 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 48.2 | 49.7 | 48.7 | ||||||||
Totals may not foot due to rounding. |
UTILITY FINANCIAL RESULTS | |||||||||||
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED) | |||||||||||
2021 | 2020 | 2019 | |||||||||
SYSTEM ENERGY RESOURCES, INC. | |||||||||||
As-Reported Net Income ($ millions) | 107 | 99 | 99 | ||||||||
Less Adjustments ($ millions) | — | (16) | — | ||||||||
Adjusted Earnings ($ millions) | 107 | 115 | 99 | ||||||||
GAAP MEASURES | |||||||||||
ROE – As-Reported (%) | 9.8 | 11.1 | 13.7 | ||||||||
Debt to Capital (%) | 40.4 | 42.7 | 43.5 | ||||||||
Total Debt ($ millions) | 741 | 805 | 548 | ||||||||
Total Equity ($ millions) | 1,091 | 1,081 | 712 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROE – Adjusted (%) | 9.8 | 12.8 | 13.7 | ||||||||
Net Debt to Net Capital (%) | 37.4 | 34.2 | 40.2 | ||||||||
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 | 2021 | 2020 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29364DAQ3 | 3.75% Series | M | 3.75 | % | 2/21 | Now | MW (T + .20%) | $ | — | $ | 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 | 350 | ||||||||||||||||||||
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 | ||||||||||||||||||||
29364D100 | 4.875% Series | M | 4.88 | % | 9/66 | Now | 100 | % | 410 | 410 | |||||||||||||||||||
29366MAB4 | 2.65% Series | M | 2.65 | % | 6/51 | Now | MW (T + .20%) | 675 | 675 | ||||||||||||||||||||
29366MAC2 | 3.35% Series | M | 3.35 | % | 6/52 | Now | MW (T + .20%) | 400 | — | ||||||||||||||||||||
453424BT9 | 2.375% Series – Independence County | G(a,d) | 2.38 | % | 1/21 | Non-Call Life | — | 45 | |||||||||||||||||||||
Total bonds | 3,660 | 3,655 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
76824*AV6 | 3.65% Series L – Variable Interest Entity Note Payable | 3.65 | % | 7/21 | Now | MW (T + .50%) | — | 90 | |||||||||||||||||||||
76824*AW4 | 3.17% Series M – Variable Interest Entity Note Payable | 3.17 | % | 12/23 | Now | MW (T + .50%) | 40 | 40 | |||||||||||||||||||||
76824*AX2 | 1.84% Series N – Variable Interest Entity Note Payable | 1.84 | % | 7/26 | Now | MW (T + .50%) | 90 | — | |||||||||||||||||||||
Credit Facility - Variable Interest Entity | 1.17 | % | 6/24 | 5 | 12 | ||||||||||||||||||||||||
Long-Term United States Department of Energy Obligation(b) | 192 | 192 | |||||||||||||||||||||||||||
Unamortized Premium and Discount – Net | 3 | 7 | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (33) | (31) | |||||||||||||||||||||||||||
Other | 2 | 2 | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 3,959 | 3,968 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | — | 485 | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $ | 3,959 | $ | 3,483 | |||||||||||||||||||||||||
Fair Value of Long-Term Debt(c) | $ | 3,984 | $ | 4,164 | |||||||||||||||||||||||||
Weighted-average annualized coupon rate (e) | 3.6 | % | 3.7 | % | |||||||||||||||||||||||||
*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 182 of 2021 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 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||
($ 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 | $195 | ||||||||||||||||
(a) Dollar amount outstanding is net of preferred stock issuance costs. | ||||||||||||||||||||
Totals may not foot due to rounding. | ||||||||||||||||||||
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY LOUISIANA, LLC | |||||||||||||||||||||||||||||
CURRENT | |||||||||||||||||||||||||||||
BONDS: | MATURITY | FIRST CALL | OR FIRST | AS OF DECEMBER 31, | |||||||||||||||||||||||||
CUSIP | TYPE* | RATE | DATE | DATE | CALL PRICE | 2021 | 2020 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29364WAN8 | 4.8% Series | M | 4.80 | % | 05/21 | Now | MW (T + .25%) | — | $ | 200 | |||||||||||||||||||
29364WAR9 | 3.30% Series | M | 3.30 | % | 12/22 | Now | MW (T + .25%) | 200 | 200 | ||||||||||||||||||||
29364WAS7 | 4.05% Series | M | 4.05 | % | 09/23 | 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 | % | 04/25 | 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 | % | 09/27 | 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 | 900 | ||||||||||||||||||||
29364WBC1 | 4.2% Series | M | 4.20 | % | 4/50 | Now | MW (T + .20%) | 525 | 525 | ||||||||||||||||||||
29364W108 | 4.875% Series | M | 4.88 | % | 9/66 | Now | 100% | 270 | 270 | ||||||||||||||||||||
29364WBD9 | 2.90% Series | M | 2.90 | % | 3/51 | Now | MW (T+.20%) | 650 | 650 | ||||||||||||||||||||
29364WBF4 | 0.62% Series | M | 0.62 | % | 11/23 | Now | 100% | 1,100 | 1,100 | ||||||||||||||||||||
29364WBE7 | 1.60% Series | M | 1.60 | % | 12/30 | Now | MW (T+.15%) | 300 | 300 | ||||||||||||||||||||
29364WBH0 | 2.35% Series | M | 2.35 | % | 6/32 | Now | MW (T+.15%) | 500 | — | ||||||||||||||||||||
29364WBJ6 | 3.10% Series | M | 3.10 | % | 6/41 | Now | MW (T+.15%) | 500 | — | ||||||||||||||||||||
29364WBK3 | 0.95% Series | M | 0.95 | % | 10/24 | 10/1/22 | 100% | 1,000 | — | ||||||||||||||||||||
5463984Y1 | 3.375% Series – Louisiana Public Facilities Authority | G(a,c) | 3.38 | % | 09/28 | Now | 100% | — | 84 | ||||||||||||||||||||
5463984Z8 | 3.5% Series – Louisiana Public Facilities Authority | G(a,c) | 3.50 | % | 06/30 | Now | 100% | — | 115 | ||||||||||||||||||||
54628CUG5 | 2.0% Series – Louisiana Local Government Environnmental | G(a,c) | 2.00 | % | 6/30 | 4/1/26 | 100% | 16 | — | ||||||||||||||||||||
54628CUH3 | 2.5% Series – Louisiana Local Government Environnmental | G(a,c) | 2.50 | % | 4/36 | 4/1/26 | 100% | 182 | — | ||||||||||||||||||||
Total bonds | $ | 10,689 | $ | 8,889 | |||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
$350M Bank Credit Facility | 1.32 | % | 6/26 | 125 | — | ||||||||||||||||||||||||
76822*AM8 | 3.92% Series H – Variable Interest Entity Note Payable | 3.92 | % | 2/21 | Now | MW (T + .50%) | — | 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 | 70 | |||||||||||||||||||||
Credit Facility – Variable Interest Entity – River Bend | 1.15 | % | 6/24 | 43 | 19 | ||||||||||||||||||||||||
Credit Facility – Variable Interest Entity – Waterford | 1.16 | % | 6/24 | 40 | 39 | ||||||||||||||||||||||||
29366AAA2 | 2.04% Series Senior Secured – Securitization Bond | 2.04 | % | 6/21 | — | 11 | |||||||||||||||||||||||
(8) | (3) | ||||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (68) | (61) | |||||||||||||||||||||||||||
Other | 4 | 4 | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 10,914 | 9,027 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 200 | 240 | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $10,714 | $8,787 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(b) | $11,493 | $10,258 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (d) | 3.1 | % | 3.5 | % | |||||||||||||||||||||||||
*M = Mortgage Bond; G = Governmental Bond |
(a) Consists of pollution control revenue bonds and environmental revenue bonds. | |||||||||||||||||||||||||||||
(b) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 182 of 2021 10K) and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(c) The bonds are secured by a series of collateral first mortgage bonds. | |||||||||||||||||||||||||||||
(d) Rate calculation only includes Bonds, VIE notes, and Securitization Bonds | |||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||||||||||||||||||||
CURRENT | |||||||||||||||||||||||||||||
BONDS: | MATURITY | FIRST CALL | OR FIRST | AS OF DECEMBER 31, | |||||||||||||||||||||||||
CUSIP | TYPE* | RATE | DATE | DATE | CALL PRICE | 2021 | 2020 | ||||||||||||||||||||||
($ 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%) | 370 | 170 | ||||||||||||||||||||
29366WAC0 | 2.55% Series | M | 2.55 | % | 12/33 | Now | MW (T + .20%) | 200 | — | ||||||||||||||||||||
Total bonds | 2,195 | 1,795 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
Unamortized Premium and Discount – Net | 6 | 4 | |||||||||||||||||||||||||||
Unamortized Debt Issuance Cost | (21) | (18) | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 2,180 | 1,781 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | — | — | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $2,180 | $1,781 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(a) | $2,346 | $2,021 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (b) | 3.5 | % | 3.6 | % | |||||||||||||||||||||||||
*M = Mortgage Bond | |||||||||||||||||||||||||||||
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 182 of 2021 10K) and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(b) Rate calculation only includes Bonds | |||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY NEW ORLEANS, LLC | |||||||||||||||||||||||||||||
CURRENT | |||||||||||||||||||||||||||||
BONDS: | MATURITY | FIRST CALL | OR FIRST | AS OF DECEMBER 31, | |||||||||||||||||||||||||
CUSIP | TYPE* | RATE | DATE | DATE | CALL PRICE | 2021 | 2020 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29364PAN3 | 3.9% Series | M | 3.90 | % | 07/23 | 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 | Now | 100 | % | 110 | 110 | |||||||||||||||||||
29365@AB2 | 3.0% Series | M | 3.00 | % | 3/25 | Now | MW (T + .50%) | 78 | 78 | ||||||||||||||||||||
29365@AC0 | 3.75% Series | M | 3.75 | % | 3/40 | Now | MW (T + .50%) | 62 | 62 | ||||||||||||||||||||
29365@AD8 | 4.19% Series | M | 4.19 | % | 11/31 | Now | MW (T + .50%) | 90 | — | ||||||||||||||||||||
29365@AE6 | 4.51% Series | M | 4.51 | % | 11/36 | Now | MW (T + .50%) | 70 | — | ||||||||||||||||||||
Total bonds | 685 | 525 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
29277VAA4 | 2.67% Series Senior Secured - Securitization Bond | 2.67 | % | 6/27 | 31 | 43 | |||||||||||||||||||||||
Unsecured Term Loan | 3.00 | % | 5/22 | — | 70 | ||||||||||||||||||||||||
Unsecured Term Loan | 2.50 | % | 5/23 | 70 | — | ||||||||||||||||||||||||
Payable to Entergy Louisiana | 11/35 | 11 | 13 | ||||||||||||||||||||||||||
Unamortized Premium and Discount – Net | — | — | |||||||||||||||||||||||||||
Unamortized Debt Issuance Cost | (9) | (8) | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 788 | 642 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 1 | 2 | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $787 | $641 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(a) | $766 | $621 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (b) | 4.2 | % | 4.1 | % | |||||||||||||||||||||||||
*M = Mortgage | |||||||||||||||||||||||||||||
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 182 of 2021 10K) and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(b) Rate calculation only includes Bonds and Securitization Bonds | |||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY TEXAS, INC. | |||||||||||||||||||||||||||||
CURRENT | |||||||||||||||||||||||||||||
BONDS: | MATURITY | FIRST CALL | OR FIRST | AS OF DECEMBER 31, | |||||||||||||||||||||||||
CUSIP | TYPE* | RATE | DATE | DATE | CALL PRICE | 2021 | 2020 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29365TAE4 | 2.55% Series | M | 2.55 | % | 6/21 | Now | MW (T + .20%) | $— | $125 | ||||||||||||||||||||
29365TAC8 | 4.1% Series | M | 4.10 | % | 9/21 | Now | MW (T + .35%) | — | 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 | 475 | ||||||||||||||||||||
29365TAK0 | 1.75% Series | M | 1.75 | % | 3/31 | Now | MW (T + .20%) | 600 | 600 | ||||||||||||||||||||
29365TAL8 | 1.50% Series | M | 1.50 | % | 9/26 | Now | MW (T + .15%) | 130 | |||||||||||||||||||||
Total bonds | 2,305 | 2,375 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
29365QAC4 | 5.93% Series Senior Secured, Series A - Securitization Bond | 0.0593% | 6/22 | — | 17 | ||||||||||||||||||||||||
29365KAC7 | 4.38% Series Senior Secured - Securitization Bond | 0.0438% | 11/23 | 54 | 106 | ||||||||||||||||||||||||
Unamortized Premium and Discount – Net | 14 | 14 | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (19) | (19) | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 2,354 | 2,494 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | — | 200 | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $2,354 | $2,294 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(a) | $2,484 | $2,765 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (b) | 3.4 | % | 3.5 | % | |||||||||||||||||||||||||
*M = Mortgage Bond | |||||||||||||||||||||||||||||
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 182 of 2021 10K) and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(b) Rate calculation only includes Bonds and Securitization Bonds | |||||||||||||||||||||||||||||
Totals may not foot due to rounding. |
SHARES | ||||||||||||||||||||
AUTHORIZED AND OUTSTANDING | ||||||||||||||||||||
PREFERRED STOCK: | AS OF DECEMBER 31, | AS OF DECEMBER 31, | ||||||||||||||||||
CUSIP | RATE | 2021 | 2020 | 2021 | 2020 | |||||||||||||||
($ millions) | ||||||||||||||||||||
Without sinking fund: | ||||||||||||||||||||
Cumulative, $100 par value: | ||||||||||||||||||||
29365T302 | 5.375% Series (a) | 5.375 | % | 1,400,000 | 1,400,000 | $ | 35 | $ | 35 | |||||||||||
N/A | 5.100% Series (b) | 5.100 | % | 150,000 | — | 4 | — | |||||||||||||
Total without sinking fund | 1,550,000 | 1,400,000 | $ | 39 | $ | 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 | 2021 | 2020 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
605279MG0 | 2.5% Series – MBFC | G(a) | 2.50 | % | 4/22 | Now | 100% | $50 | $134 | ||||||||||||||||||||
605279MK1 | 2.375% Series - MBFC | G(a) | 2.38 | % | 6/44 | 6/26 | 100% | 84 | — | ||||||||||||||||||||
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 | 200 | ||||||||||||||||||||
Total bonds | 584 | 584 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
76823#AT8 | 3.42% Series J – Variable Interest Entity Note Payable | 3.42 | % | 4/21 | — | 100 | |||||||||||||||||||||||
76823#AU5 | 2.05% Series K – Variable Interest Entity Note Payable | 2.05 | % | 90 | 90 | ||||||||||||||||||||||||
Credit Facility – Variable Interest Entity | 1.16 | % | 6/24 | 36 | — | ||||||||||||||||||||||||
361561AA1 | Grand Gulf Lease Obligation 5.13% | 5.13 | % | 9/27 | 34 | 34 | |||||||||||||||||||||||
Unamortized Premium and Discount – Net | — | — | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (3) | (3) | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 741 | 805 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 50 | 100 | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $691 | $705 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(b) | $743 | $841 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (c) | 2.9 | % | 3.0 | % | |||||||||||||||||||||||||
*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 182 of 2021 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, 2021 | PLANTS | UNITS | (MW)(a) | (MW)(b) | |||||||||||||
Plants that use fuel type: | |||||||||||||||||
Gas/Oil | 26 | 48 | 16,933 | 17,716 | |||||||||||||
Coal | 3 | 5 | 2,097 | 4,051 | |||||||||||||
Petroleum Coke | 1 | 2 | — | 190 | |||||||||||||
Total Fossil | 30 | 55 | 19,030 | 21,957 | |||||||||||||
Hydro | 3 | 7 | 72 | 146 | |||||||||||||
Nuclear | 4 | 5 | 5,222 | 5,362 | |||||||||||||
Solar | 4 | 4 | 29 | 28 | |||||||||||||
Total Capability | 41 | 71 | 24,353 | 27,493 | |||||||||||||
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 | |||||||||||
2021 | 2020 | 2019 | |||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 61,828 | 60,734 | 52,672 | ||||||||
Coal | 7,693 | 4,169 | 8,214 | ||||||||
Nuclear | 41,352 | 37,807 | 37,484 | ||||||||
Hydro | 177 | 209 | 224 | ||||||||
Solar | 36 | 6 | 5 | ||||||||
Total Net Generation | 111,086 | 102,925 | 98,600 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | — | — | — | ||||||||
Non-affiliated Companies | 24,709 | 26,651 | 34,647 | ||||||||
Total Purchased Power | 24,709 | 26,651 | 34,647 | ||||||||
Total Sources of Energy | 135,795 | 129,576 | 133,246 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 35,669 | 35,173 | 36,093 | ||||||||
Commercial | 26,818 | 26,465 | 28,754 | ||||||||
Industrial | 49,819 | 47,117 | 48,484 | ||||||||
Governmental | 2,438 | 2,415 | 2,578 | ||||||||
Total Retail | 114,744 | 111,170 | 115,909 | ||||||||
Sales for Resale | 16,656 | 13,658 | 13,210 | ||||||||
Unbilled Energy | (434) | 40 | (83) | ||||||||
Total Electric Energy Sales | 130,966 | 124,868 | 129,036 | ||||||||
Line Losses and Company Usage | 4,828 | 4,709 | 4,210 | ||||||||
Total Uses of Energy | 135,794 | 129,577 | 133,246 | ||||||||
Electric Energy Sales (Weather Adjusted)(GWh): | |||||||||||
Residential | 35,724 | 36,396 | 35,446 | ||||||||
Commercial | 26,866 | 26,639 | 28,490 | ||||||||
Industrial | 49,820 | 47,117 | 48,483 | ||||||||
Governmental | 2,437 | 2,399 | 2,561 | ||||||||
Total Weather Adjusted Sales | 114,847 | 112,551 | 114,980 | ||||||||
Peak Demand (MW) | 22,051 | 21,340 | 21,598 | ||||||||
Operational Summer Capacity at Peak (MW) | 26,827 | 25,665 | 23,887 | ||||||||
Annual System Load Factor (%) | 62 | 62 | 64 | ||||||||
Retail Electric Sales Growth Rate (%) | 3.2 | (4.1) | (1.4) | ||||||||
Retail Electric Sales Weather-Adjusted Growth Rate (%) | 2.0 | (2.1) | (0.8) | ||||||||
Average Fuel Cost (cents/KWh) | |||||||||||
Natural Gas | 3.75 | 1.92 | 2.33 | ||||||||
Nuclear Fuel | 0.56 | 0.57 | 0.73 | ||||||||
Coal | 2.48 | 2.54 | 2.31 | ||||||||
Purchased Power | 5.82 | 4.36 | 4.86 | ||||||||
MISO Purchases | 4.08 | 2.48 | 2.71 | ||||||||
Certain prior year data has been reclassified to conform with current year presentation. | |||||||||||
Totals may not foot due to rounding. |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||
2021 CONSOLIDATING UTILITY ELECTRIC STATISTICAL INFORMATION | |||||||||||||||||||||||||||||
E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS | UTILITY | % | |||||||||||||||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||||||||||||||||||||
Residential | 882,773 | 1,484,612 | 578,258 | 269,893 | 766,312 | — | — | 3,981,848 | 37 | % | |||||||||||||||||||
Commercial | 480,401 | 1,055,825 | 439,950 | 208,104 | 425,927 | — | — | 2,610,207 | 26 | % | |||||||||||||||||||
Industrial | 496,661 | 1,771,311 | 150,698 | 30,751 | 492,949 | — | — | 2,942,370 | 27 | % | |||||||||||||||||||
Governmental | 19,112 | 82,503 | 46,248 | 71,584 | 26,238 | — | — | 245,685 | 2 | % | |||||||||||||||||||
Total Retail | 1,878,948 | 4,394,252 | 1,215,154 | 580,331 | 1,711,426 | — | — | 9,780,111 | 93 | % | |||||||||||||||||||
Sales for Resale | 311,791 | 391,424 | 124,632 | 88,349 | 145,719 | 545,561 | (1,005,552) | 601,924 | 3 | % | |||||||||||||||||||
Other | 147,852 | 208,784 | 66,560 | 3,553 | 45,366 | 25,287 | (5,370) | 492,031 | 4 | % | |||||||||||||||||||
Total Electric Operating Revenues | 2,338,591 | 4,994,459 | 1,406,346 | 672,233 | 1,902,511 | 570,848 | (1,010,922) | 10,874,066 | 100 | % | |||||||||||||||||||
SOURCES OF ENERGY (GWh) | |||||||||||||||||||||||||||||
Net Generation: | |||||||||||||||||||||||||||||
Gas & Oil | 7,654 | 31,257 | 10,760 | 2,530 | 9,627 | — | — | 61,828 | 40 | % | |||||||||||||||||||
Coal | 4,795 | 1,081 | 1,021 | — | 796 | — | — | 7,693 | 6 | % | |||||||||||||||||||
Nuclear | 13,531 | 17,227 | — | — | — | 10,593 | — | 41,352 | 28 | % | |||||||||||||||||||
Hydro | 177 | — | — | — | — | — | — | 177 | — | % | |||||||||||||||||||
Solar | — | — | 1 | 35 | — | — | — | 36 | — | % | |||||||||||||||||||
Total Net Generation | 26,157 | 49,566 | 11,782 | 2,565 | 10,423 | 10,593 | — | 111,086 | 74 | % | |||||||||||||||||||
Purchased Power: | |||||||||||||||||||||||||||||
Affiliated Companies | 3,814 | 3,605 | 4,232 | 4,564 | 2,945 | — | (19,160) | — | — | ||||||||||||||||||||
Non-affiliated Companies | 1,805 | 11,072 | 1,694 | 713 | 9,426 | — | — | 24,710 | 26 | % | |||||||||||||||||||
Total Purchased Power | 5,619 | 14,676 | 5,925 | 5,278 | 12,371 | — | (19,160) | 24,710 | 26 | % | |||||||||||||||||||
Total Sources of Energy | 31,775 | 64,242 | 17,707 | 7,843 | 22,794 | 10,593 | (19,160) | 135,795 | 100 | % | |||||||||||||||||||
USES OF ENERGY (GWh) | |||||||||||||||||||||||||||||
Electric Energy Sales: | |||||||||||||||||||||||||||||
Residential | 8,054 | 13,588 | 5,568 | 2,258 | 6,201 | — | — | 35,669 | 31 | % | |||||||||||||||||||
Commercial | 5,492 | 10,385 | 4,469 | 1,978 | 4,494 | — | — | 26,818 | 25 | % | |||||||||||||||||||
Industrial | 8,508 | 29,869 | 2,298 | 415 | 8,729 | — | — | 49,819 | 42 | % | |||||||||||||||||||
Governmental | 225 | 792 | 409 | 757 | 256 | — | — | 2,439 | 2 | % | |||||||||||||||||||
Total Retail | 22,280 | 54,633 | 12,744 | 5,407 | 19,680 | — | — | 114,744 | 100 | % | |||||||||||||||||||
Sales for Resale | 8,404 | 7,714 | 4,364 | 2,369 | 2,372 | 10,593 | (19,160) | 16,656 | — | ||||||||||||||||||||
Unbilled Energy | (189) | (38) | (102) | (61) | (44) | — | — | (434) | — | ||||||||||||||||||||
Total Electric Energy Sales | 30,495 | 62,309 | 17,006 | 7,715 | 22,008 | 10,593 | (19,160) | 130,966 | — | ||||||||||||||||||||
Line Losses and Company Usage | 1,280 | 1,933 | 701 | 128 | 786 | — | — | 4,828 | — | ||||||||||||||||||||
Total Uses of Energy | 31,775 | 64,242 | 17,707 | 7,843 | 22,794 | 10,593 | (19,160) | 135,794 | — | ||||||||||||||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||||||||||||||||||||
Residential | 10.96 | 10.93 | 10.39 | 11.95 | 12.36 | — | — | 11.16 | — | ||||||||||||||||||||
Commercial | 8.75 | 10.17 | 9.84 | 10.52 | 9.48 | — | — | 9.73 | — | ||||||||||||||||||||
Industrial | 5.84 | 5.93 | 6.56 | 7.42 | 5.65 | — | — | 5.91 | — | ||||||||||||||||||||
Governmental | 8.49 | 10.42 | 11.31 | 9.46 | 10.25 | — | — | 10.07 | — | ||||||||||||||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||||||||||||||||||||
(as of December 31, 2021) | |||||||||||||||||||||||||||||
Residential | 601,511 | 946,961 | 382,550 | 188,222 | 424,701 | — | — | 2,543,945 | 85 | % | |||||||||||||||||||
Commercial | 100,595 | 133,740 | 68,115 | 17,306 | 52,360 | — | — | 372,116 | 12 | % | |||||||||||||||||||
Industrial | 25,718 | 11,907 | 4,398 | 1,701 | 6,445 | — | — | 50,169 | 2 | % | |||||||||||||||||||
Governmental | 774 | 8,189 | 5,219 | 1,930 | 2,120 | — | — | 18,232 | 1 | % | |||||||||||||||||||
Total Retail Customers | 728,598 | 1,100,797 | 460,282 | 209,159 | 485,626 | — | — | 2,984,462 | 100 | % | |||||||||||||||||||
Totals may not foot due to rounding. | |||||||||||||||||||||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY ARKANSAS, LLC | |||||||||||
2021 | 2020 | 2019 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 882,773 | 841,162 | 795,269 | ||||||||
Commercial | 480,401 | 466,273 | 538,850 | ||||||||
Industrial | 496,661 | 461,907 | 520,958 | ||||||||
Governmental | 19,112 | 18,011 | 20,795 | ||||||||
Total Retail | 1,878,948 | 1,787,352 | 1,875,873 | ||||||||
Sales for Resale | 311,791 | 173,115 | 257,864 | ||||||||
Other | 147,852 | 124,026 | 125,858 | ||||||||
Total Electric Operating Revenues | 2,338,591 | 2,084,494 | 2,259,594 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 7,654 | 6,358 | 8,836 | ||||||||
Coal | 4,795 | 2,719 | 4,882 | ||||||||
Nuclear | 13,531 | 15,058 | 13,575 | ||||||||
Hydro | 177 | 209 | 224 | ||||||||
Total Net Generation | 26,157 | 24,344 | 27,517 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 3,814 | 2,105 | 3,578 | ||||||||
Non-affiliated Companies | 1,805 | 1,533 | 1,122 | ||||||||
Total Purchased Power | 5,619 | 3,638 | 4,700 | ||||||||
Total Sources of Energy | 31,775 | 27,982 | 32,217 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 8,054 | 7,584 | 7,996 | ||||||||
Commercial | 5,492 | 5,356 | 5,822 | ||||||||
Industrial | 8,508 | 7,586 | 7,759 | ||||||||
Governmental | 225 | 223 | 241 | ||||||||
Total Retail | 22,280 | 20,748 | 21,818 | ||||||||
Sales for Resale | 8,404 | 5,856 | 9,385 | ||||||||
Unbilled Energy | (189) | — | 24 | ||||||||
Total Electric Energy Sales | 30,494 | 26,604 | 31,227 | ||||||||
Line Losses and Company Usage | 1,280 | 1,378 | 990 | ||||||||
Total Uses of Energy | 31,775 | 27,983 | 32,217 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 10.96 | 11.09 | 9.95 | ||||||||
Commercial | 8.75 | 8.71 | 9.26 | ||||||||
Industrial | 5.84 | 6.09 | 6.71 | ||||||||
Governmental | 8.49 | 8.08 | 8.63 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2021) | |||||||||||
Residential | 601,511 | 600,286 | 595,315 | ||||||||
Commercial | 100,595 | 95,810 | 95,320 | ||||||||
Industrial | 25,718 | 25,134 | 23,382 | ||||||||
Governmental | 774 | 696 | 667 | ||||||||
Total Retail Customers | 728,598 | 721,926 | 714,684 | ||||||||
Totals may not foot due to rounding. |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY ARKANSAS, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | 11,869 | 1 | 262 | 130,551 | 189,085 | 408.6 | 77,264 | |||||||||||||||||||||||||||||||||
Ouachita | 1 | 100 | % | 2002 | 236 | Gas | Intermediate | 7,229 | 2 | 43 | 327,266 | Dry LNB, SCR | 1,625,692 | 32.5 | 52,816 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2002 | 239 | Gas | Intermediate | 2 | 55 | 404,029 | Dry LNB, SCR | |||||||||||||||||||||||||||||||||||||
Hot Spring | 1 | 100 | % | 2002 | 594 | Gas | Intermediate | 7,178 | 6 | 91 | 1,104,697 | Dry LNB, SCR | 2,534,292 | 44.5 | 112,698 | ||||||||||||||||||||||||||||||||
Independence | 1 | 31.5 | % | 1983 | 259 | Coal | Base | 10,139 | 2,092 | 661 | 943,573 | 5 | LNB w/Sep OFA, ESP, ACI | 789,942 | 33.6 | 26,517 | |||||||||||||||||||||||||||||||
White Bluff | 1 | 57 | % | 1980 | 466 | Coal | Base | 10,448 | 4,839 | 1,560 | 2,106,130 | 14 | LNB w/Sep OFA, ESP, ACI | 1,741,035 | 29.8 | 119,436 | |||||||||||||||||||||||||||||||
2 | 57 | % | 1981 | 468 | Coal | Base | 5,720 | 1,839 | 2,504,858 | 15 | LNB w/Sep OFA, ESP, ACI | 2,263,867 | |||||||||||||||||||||||||||||||||||
Carpenter | 1 | 100 | % | 1932 | 31 | Hydro | Peaking | 137,743 | 13.0 | 1,787 | |||||||||||||||||||||||||||||||||||||
2 | 100 | % | 1932 | 30 | Hydro | Peaking | |||||||||||||||||||||||||||||||||||||||||
Remmel | 1 | 100 | % | 1925 | 4 | Hydro | Peaking | 38,839 | 37.9 | 1,471 | |||||||||||||||||||||||||||||||||||||
2 | 100 | % | 1925 | 4 | Hydro | Peaking | |||||||||||||||||||||||||||||||||||||||||
3 | 100 | % | 1925 | 4 | Hydro | Peaking | |||||||||||||||||||||||||||||||||||||||||
Union Power Station | 2 | 100 | % | 2003 | 501 | Gas | Intermediate | 7,287 | 7 | 140 | 1,427,918 | Dry LNB, SCR | 3,304,772 | 30.5 | 100,924 | ||||||||||||||||||||||||||||||||
Arkansas | 1 | 100 | % | 1974 | 832 | Nuclear PWR(c) | Base | 10,352 | 6,560,105 | 22.8 | 308,612 | ||||||||||||||||||||||||||||||||||||
Nuclear One | 2 | 100 | % | 1980 | 987 | Nuclear PWR(c) | Base | 6,971,344 | |||||||||||||||||||||||||||||||||||||||
Total | 5,175 | 12,668 | 4,650 | 8,949,022 | 35 | 26,156,716 | 30.6 | 801,525 | |||||||||||||||||||||||||||||||||||||||
(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 | |||||||||||
2021 | 2020 | 2019 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 1,484,612 | 1,270,187 | 1,270,478 | ||||||||
Commercial | 1,055,825 | 886,548 | 947,412 | ||||||||
Industrial | 1,771,311 | 1,314,234 | 1,450,966 | ||||||||
Governmental | 82,503 | 68,901 | 71,046 | ||||||||
Total Retail | 4,394,252 | 3,539,870 | 3,739,902 | ||||||||
Sales for Resale | 391,424 | 333,594 | 333,394 | ||||||||
Other | 208,784 | 145,599 | 149,731 | ||||||||
Total Electric Operating Revenues | 4,994,459 | 4,019,063 | 4,223,027 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 31,257 | 31,528 | 27,773 | ||||||||
Coal | 1,081 | 416 | 1,100 | ||||||||
Nuclear | 17,227 | 16,929 | 13,981 | ||||||||
Hydro | — | — | — | ||||||||
Total Net Generation | 49,566 | 48,873 | 42,854 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 3,605 | 2,648 | 3,608 | ||||||||
Non-affiliated Companies | 11,072 | 11,821 | 17,959 | ||||||||
Total Purchased Power | 14,676 | 14,469 | 21,567 | ||||||||
Total Sources of Energy | 64,242 | 63,342 | 64,421 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 13,588 | 13,771 | 14,046 | ||||||||
Commercial | 10,385 | 10,465 | 11,353 | ||||||||
Industrial | 29,869 | 28,881 | 29,801 | ||||||||
Governmental | 792 | 779 | 827 | ||||||||
Total Retail | 54,633 | 53,896 | 56,027 | ||||||||
Sales for Resale | 7,714 | 7,950 | 6,738 | ||||||||
Unbilled Energy | (38) | (103) | (16) | ||||||||
Total Electric Energy Sales | 62,309 | 61,743 | 62,749 | ||||||||
Line Losses and Company Usage | 1,933 | 1,599 | 1,672 | ||||||||
Total Uses of Energy | 64,242 | 63,342 | 64,421 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 10.93 | 9.22 | 9.05 | ||||||||
Commercial | 10.17 | 8.47 | 8.34 | ||||||||
Industrial | 5.93 | 4.55 | 4.87 | ||||||||
Governmental | 10.42 | 8.84 | 8.59 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2021) | |||||||||||
Residential | 946,961 | 944,762 | 940,071 | ||||||||
Commercial | 133,740 | 132,352 | 132,364 | ||||||||
Industrial | 11,907 | 10,956 | 10,654 | ||||||||
Governmental | 8,189 | 7,996 | 8,003 | ||||||||
Total Retail Customers | 1,100,797 | 1,096,066 | 1,091,092 | ||||||||
Totals may not foot due to rounding. | |||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY LOUISIANA, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | 523 | Gas | Intermediate | 7,494 | 5 | 82 | 1,008,033 | SCR | 2,324,685 | 37.0 | 86,127 | ||||||||||||||||||||||||||||||||
Little Gypsy | 2 | 100 | % | 1966 | 415 | Gas/Oil | Intermediate | 12,484 | 1 | 188 | 186,030 | BOOS/Combus Mod/Fuel Reburn | 583,291 | 86.4 | 50,402 | ||||||||||||||||||||||||||||||||
3 | 100 | % | 1969 | 412 | Gas/Oil | Intermediate | 1 | 598 | 258,476 | BOOS/IFGR | |||||||||||||||||||||||||||||||||||||
Ninemile Point | 4 | 100 | % | 1971 | 709 | Gas/Oil | Intermediate | 10,192 | 7 | 2,782 | 1,424,844 | BOOS/IFGR | 4,473,724 | 51.1 | 228,667 | ||||||||||||||||||||||||||||||||
5 | 100 | % | 1973 | 742 | Gas/Oil | Intermediate | 7 | 2,900 | 1,284,917 | BOOS/IFGR | |||||||||||||||||||||||||||||||||||||
6 | 100 | % | 2014 | 555 | Gas/Oil | Intermediate | 7,041 | 8 | 179 | 1,614,696 | SCR, O2 Catalyst, Water/Steam Injection | 3,907,686 | 32.8 | 128,363 | |||||||||||||||||||||||||||||||||
Perryville | 1 | 100 | % | 2002 | 522 | Gas | Intermediate | 7,147 | 5 | 114 | 921,016 | Dry LNB, SCR | 2,240,515 | 41.0 | 93,559 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2001 | 150 | Gas | Peaking | — | 9 | 34,381 | None | 43,357 | ||||||||||||||||||||||||||||||||||||
J. Wayne Leonard | 1 | 100 | % | 2019 | 907 | Gas | Intermediate | 6,825 | 11 | 122 | 2,107,636 | Dry LNB, SCR, O2 Catalyst | 4,997,937 | 39.4 | 197,132 | ||||||||||||||||||||||||||||||||
Lake Charles | 1 | 100 | % | 2020 | 922 | Gas | Intermediate | 6,778 | 11 | 126 | 2,227,965 | DLNB/SCR, O2 Catalyst | 5,529,778 | 42.9 | 237,013 | ||||||||||||||||||||||||||||||||
Sterlington | 7 | 100 | % | 1974 | 45 | Gas/Oil | Peaking | 13,543 | — | 23 | 5,979 | 5,704 | 7,601 | ||||||||||||||||||||||||||||||||||
Waterford | 1 | 100 | % | 1975 | — | Gas/Oil | Reserve | 11,865 | — | 12 | 8,459 | LNCB | 230,311 | 92.4 | 21,291 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 1975 | 405 | Gas/Oil | Intermediate | 1 | 192 | 156,335 | LNCB | |||||||||||||||||||||||||||||||||||||
4 | 100 | % | 2009 | 31 | Oil | Peaking | 1 | 4 | 4,611 | Water/Steam Injection | |||||||||||||||||||||||||||||||||||||
LA Station 2 | 10 | 100 | % | 1950 | — | Gas | Reserve | 470 | |||||||||||||||||||||||||||||||||||||||
11 | 100 | % | 1950 | — | Gas | Reserve | |||||||||||||||||||||||||||||||||||||||||
12 | 100 | % | 1953 | — | Gas | Reserve | |||||||||||||||||||||||||||||||||||||||||
Roy S. Nelson | 4 | 100 | % | 1970 | — | Gas/Oil | Reserve | Combus Mod/Fuel Reburn | 812 | ||||||||||||||||||||||||||||||||||||||
Calcasieu | 1 | 100 | % | 2000 | 142 | Gas | Peaking | 8,069 | — | 27 | 29,600 | Dry LNB | 45,039 | 134.6 | 9,949 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2001 | 158 | Gas | Peaking | — | 14 | 20,345 | Dry LNB | 28,895 | ||||||||||||||||||||||||||||||||||||
Ouachita | 3 | 100 | % | 2002 | 242 | Gas | Intermediate | 7,515 | 3 | 63 | 503,696 | Dry LNB, SCR | 1,114,222 | 34.5 | 38,465 | ||||||||||||||||||||||||||||||||
Roy S. Nelson | 6 | 40 | % | 1982 | 210 | Coal | Base | 11,509 | 1,946 | 572 | 759,801 | 4 | LNB w/ Sep OFA, ESP, ACI | 601,435 | 44.9 | 26,987 | |||||||||||||||||||||||||||||||
Big Cajun 2 | 3 | 24 | % | 1983 | 130 | Coal | Base | 11,372 | 1,628 | 334 | 572,684 | 4 | LNB w/ OFA, ESP, ACI | 479,498 | 41.8 | 20,049 | |||||||||||||||||||||||||||||||
River Bend | 1 | 100 | % | 1986 | 967 | Nuclear BWR(c) | Base | 10,905 | 7,428,599 | 28.7 | 213,273 | ||||||||||||||||||||||||||||||||||||
Washington Parish | 1 | 100 | % | 2020 | 183 | Gas | Peaking | — | 12 | 53,481 | LNB | 178,005 | 17,254 | ||||||||||||||||||||||||||||||||||
2 | 100 | % | 2020 | 184 | Gas | Peaking | — | 10 | 48,013 | LNB | |||||||||||||||||||||||||||||||||||||
Waterford | 3 | 100 | % | 1985 | 1,173 | Nuclear PWR(c) | Base | 10,790 | 9,798,865 | 23.2 | 227,149 | ||||||||||||||||||||||||||||||||||||
Union Power Station | 3 | 100 | % | 2003 | 506 | Gas | Intermediate | 7,172 | 6 | 131 | 1,227,263 | Dry LNB, SCR | 2,862,345 | 32.9 | 182,567 | ||||||||||||||||||||||||||||||||
4 | 100 | % | 2003 | 508 | Gas | Intermediate | 6 | 117 | 1,153,666 | Dry LNB, SCR | 2,691,619 | ||||||||||||||||||||||||||||||||||||
Total | 10,741 | 3,647 | 8,609 | 15,611,927 | 8 | 49,565,510 | 36.1 | 1,787,130 | |||||||||||||||||||||||||||||||||||||||
(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 | |||||||||||
2021 | 2020 | 2019 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 578,258 | 523,379 | 562,219 | ||||||||
Commercial | 439,950 | 395,875 | 444,173 | ||||||||
Industrial | 150,698 | 145,100 | 164,491 | ||||||||
Governmental | 46,248 | 41,955 | 44,300 | ||||||||
Total Retail | 1,215,154 | 1,106,309 | 1,215,183 | ||||||||
Sales for Resale | 124,632 | 77,530 | 39,295 | ||||||||
Other | 66,560 | 64,015 | 68,566 | ||||||||
Total Electric Operating Revenues | 1,406,346 | 1,247,854 | 1,323,044 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 10,760 | 12,761 | 7,647 | ||||||||
Coal | 1,021 | 723 | 1,411 | ||||||||
Nuclear | — | — | — | ||||||||
Hydro | — | — | — | ||||||||
Solar | 1 | 2 | 2 | ||||||||
Total Net Generation | 11,782 | 13,486 | 9,060 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 4,232 | 2,336 | 3,971 | ||||||||
Non-affiliated Companies | 1,694 | 1,650 | 2,752 | ||||||||
Total Purchased Power | 5,925 | 3,987 | 6,723 | ||||||||
Total Sources of Energy | 17,707 | 17,473 | 15,783 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 5,568 | 5,378 | 5,659 | ||||||||
Commercial | 4,469 | 4,283 | 4,698 | ||||||||
Industrial | 2,298 | 2,343 | 2,443 | ||||||||
Governmental | 409 | 398 | 436 | ||||||||
Total Retail | 12,744 | 12,402 | 13,236 | ||||||||
Sales for Resale | 4,364 | 4,316 | 1,776 | ||||||||
Unbilled Energy | (102) | 58 | (78) | ||||||||
Total Electric Energy Sales | 17,006 | 16,776 | 14,934 | ||||||||
Line Losses and Company Usage | 701 | 696 | 849 | ||||||||
Total Uses of Energy | 17,707 | 17,472 | 15,783 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 10.39 | 9.73 | 9.93 | ||||||||
Commercial | 9.84 | 9.24 | 9.45 | ||||||||
Industrial | 6.56 | 6.19 | 6.73 | ||||||||
Governmental | 11.31 | 10.54 | 10.16 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2021) | |||||||||||
Residential | 382,550 | 381,617 | 377,158 | ||||||||
Commercial | 68,115 | 65,131 | 64,488 | ||||||||
Industrial | 4,398 | 3,827 | 3,971 | ||||||||
Governmental | 5,219 | 5,146 | 5,130 | ||||||||
Total Retail Customers | 460,282 | 455,721 | 450,747 | ||||||||
Totals may not foot due to rounding. | |||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | 458 | Gas | Intermediate | 7,046 | 5 | 101 | 1,052,615 | Dry LNB, SCR | 2,487,341 | 30.7 | 76,268 | ||||||||||||||||||||||||||||||||
Hinds | 1 | 100 | % | 2001 | 454 | Gas | Intermediate | 7,080 | 7 | 123 | 1,434,131 | Dry LNB, SCR | 3,479,355 | 30 | 104,518 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2019 | 27 | Gas | Peaking | 3 | 5,285 | 7,675 | ||||||||||||||||||||||||||||||||||||||
Baxter Wilson | 1 | 100 | % | 1967 | 494 | Gas/Oil | Intermediate | 10,718 | 2 | 900 | 462,654 | 740,373 | 51.8 | 38,317 | |||||||||||||||||||||||||||||||||
Choctaw | 1 | 100 | % | 2003 | 797 | Gas | Intermediate | 6,969 | 8 | 125 | 1,659,898 | Dry LNB, SCR | 3,884,090 | 32.6 | 126,551 | ||||||||||||||||||||||||||||||||
Gerald Andrus | 1 | 100 | % | 1975 | 707 | Gas/Oil | Intermediate | 12,578 | 1 | 263 | 123,711 | OFA | 160,333 | 146.4 | 23,478 | ||||||||||||||||||||||||||||||||
Independence | 1 | 25 | % | 1983 | 205 | Coal | Base | 10,514 | 1,660 | 524 | 748,868 | 4 | LNB w/Sep OFA, ESP, ACI | 626,880 | 34.7 | 35,453 | |||||||||||||||||||||||||||||||
2 | 25 | % | 1984 | 106 | Coal | Base | 1,100 | 359 | 482,858 | 3 | LNB w/Sep OFA, ESP, ACI | 394,454 | |||||||||||||||||||||||||||||||||||
DeSoto Solar | 1 | 100 | % | 2015 | 0.5 | Solar | N/A | 512 | 29.9 | 15 | |||||||||||||||||||||||||||||||||||||
Brookhaven Solar | 1 | 100 | % | 2015 | 0.5 | Solar | N/A | 514 | 9.0 | 5 | |||||||||||||||||||||||||||||||||||||
Hinds Solar | 1 | 100 | % | 2015 | 0.5 | Solar | N/A | 380 | 80.1 | 30 | |||||||||||||||||||||||||||||||||||||
Total | 3,251 | 2,784 | 2,398 | 5,970,020 | 7 | 11,781,906 | 34.3 | 404,635 | |||||||||||||||||||||||||||||||||||||||
(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 | |||||||||||
2021 | 2020 | 2019 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 269,893 | 243,502 | 245,081 | ||||||||
Commercial | 208,104 | 179,406 | 202,138 | ||||||||
Industrial | 30,751 | 24,248 | 31,824 | ||||||||
Governmental | 71,584 | 59,819 | 70,865 | ||||||||
Total Retail | 580,331 | 506,975 | 549,908 | ||||||||
Sales for Resale | 88,349 | 33,213 | 38,626 | ||||||||
Other | 3,553 | 20,444 | 5,883 | ||||||||
Total Electric Operating Revenues | 672,233 | 560,632 | 594,417 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 2,530 | 3,060 | 2,975 | ||||||||
Coal | — | — | — | ||||||||
Nuclear | — | — | — | ||||||||
Hydro | — | — | — | ||||||||
Solar | 35 | 4 | 3 | ||||||||
Total Net Generation | 2,565 | 3,064 | 2,978 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 4,565 | 3,801 | 4,401 | ||||||||
Non-affiliated Companies | 713 | 671 | 572 | ||||||||
Total Purchased Power | 5,278 | 4,471 | 4,973 | ||||||||
Total Sources of Energy | 7,843 | 7,535 | 7,951 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 2,258 | 2,294 | 2,353 | ||||||||
Commercial | 1,978 | 1,975 | 2,215 | ||||||||
Industrial | 415 | 423 | 438 | ||||||||
Governmental | 757 | 755 | 815 | ||||||||
Total Retail | 5,407 | 5,447 | 5,821 | ||||||||
Sales for Resale | 2,369 | 1,969 | 1,961 | ||||||||
Unbilled Energy | (61) | (9) | 18 | ||||||||
Total Electric Energy Sales | 7,715 | 7,407 | 7,800 | ||||||||
Line Losses and Company Usage | 128 | 127 | 151 | ||||||||
Total Uses of Energy | 7,843 | 7,535 | 7,951 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 11.95 | 10.61 | 10.42 | ||||||||
Commercial | 10.52 | 9.08 | 9.13 | ||||||||
Industrial | 7.42 | 5.74 | 7.27 | ||||||||
Governmental | 9.46 | 7.93 | 8.70 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2021) | |||||||||||
Residential | 188,222 | 186,299 | 184,399 | ||||||||
Commercial | 17,306 | 17,179 | 17,198 | ||||||||
Industrial | 1,701 | 1,707 | 1,832 | ||||||||
Governmental | 1,930 | 1,940 | 1,915 | ||||||||
Total Retail Customers | 209,159 | 207,125 | 205,344 | ||||||||
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 – 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | 509 | Gas | Intermediate | 7,333 | 5 | 107 | 1,019,762 | Dry LNB, SCR | 2,365,824 | 38.7 | 91,674 | ||||||||||||||||||||||||||||||||
New Orleans Solar Power Plant (+Battery) | 1 | 100 | % | 2016 | 1 (0.5(c)) | Solar | N/A | 223 | 174.1 | 39 | |||||||||||||||||||||||||||||||||||||
New Orleans Power Station | 1 | 100 | % | 2020 | 130 | Gas | Intermediate | 6,678 | — | 15 | 101,942 | 163,725 | 71.1 | 11,635 | |||||||||||||||||||||||||||||||||
New Orleans Solar Station | 1 | 100 | % | 2020 | 20 | Solar | N/A | 32,716 | |||||||||||||||||||||||||||||||||||||||
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 | 2,527 | |||||||||||||||||||||||||||||||||||||||
Total | 666 | 6 | 123 | 1,121,704 | 2,565,014 | 40.3 | 103,348 | ||||||||||||||||||||||||||||||||||||||||
(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. | ||||||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | 570,848 | 495,458 | 573,410 | |||||||||||||||||
SOURCES OF ENERGY (GWh) | ||||||||||||||||||||
Net Generation: | ||||||||||||||||||||
Gas & Oil | ||||||||||||||||||||
Coal | ||||||||||||||||||||
Nuclear | 10,593 | 5,820 | 9,928 | |||||||||||||||||
Hydro | ||||||||||||||||||||
Total Net Generation | 10,593 | 5,820 | 9,928 | |||||||||||||||||
Purchased Power | ||||||||||||||||||||
Total Sources of Energy | 10,593 | 5,820 | 9,928 | |||||||||||||||||
USES OF ENERGY (GWh) | ||||||||||||||||||||
Electric Energy Sales | 10,593 | 5,849 | 9,940 | |||||||||||||||||
Unbilled Energy | ||||||||||||||||||||
Line Losses and Company Usage | (29) | (12) | ||||||||||||||||||
Total Uses of Energy | 10,593 | 5,820 | 9,928 | |||||||||||||||||
Totals may not foot due to rounding. |
SYSTEM ENERGY RESOURCES, INC. | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | 1,263 | Nuclear BWR(b) | Base | 10,618 | — | — | — | — | 10,593,431 | 23.2 | 245,290 | |||||||||||||||||||||||||||||||||
Total | 1,263 | 10,593,431 | 23.2 | 245,290 | |||||||||||||||||||||||||||||||||||||||||||
(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. | |||||||||||
2021 | 2020 | 2019 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 766,312 | 672,087 | 658,453 | ||||||||
Commercial | 425,927 | 364,638 | 343,013 | ||||||||
Industrial | 492,949 | 385,681 | 373,048 | ||||||||
Governmental | 26,238 | 23,445 | 21,464 | ||||||||
Total Retail | 1,711,426 | 1,445,851 | 1,395,978 | ||||||||
Sales for Resale | 145,719 | 100,273 | 59,074 | ||||||||
Other | 45,366 | 41,121 | 33,902 | ||||||||
Total Electric Operating Revenues | 1,902,511 | 1,587,245 | 1,488,954 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas & Oil | 9,627 | 7,027 | 5,441 | ||||||||
Coal | 796 | 311 | 821 | ||||||||
Nuclear | — | — | — | ||||||||
Hydro | — | — | — | ||||||||
Total Net Generation | 10,423 | 7,338 | 6,262 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 2,945 | 3,404 | 2,847 | ||||||||
Non-affiliated Companies | 9,426 | 10,977 | 12,242 | ||||||||
Total Purchased Power | 12,371 | 14,381 | 15,089 | ||||||||
Total Sources of Energy | 22,794 | 21,719 | 21,351 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 6,201 | 6,146 | 6,039 | ||||||||
Commercial | 4,494 | 4,386 | 4,667 | ||||||||
Industrial | 8,729 | 7,885 | 8,043 | ||||||||
Governmental | 256 | 260 | 259 | ||||||||
Total Retail | 19,680 | 18,677 | 19,008 | ||||||||
Sales for Resale | 2,372 | 2,013 | 1,815 | ||||||||
Unbilled Energy | (44) | 93 | (31) | ||||||||
Total Electric Energy Sales | 22,008 | 20,783 | 20,792 | ||||||||
Line Losses and Company Usage | 786 | 937 | 559 | ||||||||
Total Uses of Energy | 22,794 | 21,720 | 21,351 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 12.36 | 10.94 | 10.90 | ||||||||
Commercial | 9.48 | 8.31 | 7.35 | ||||||||
Industrial | 5.65 | 4.89 | 4.64 | ||||||||
Governmental | 10.25 | 9.02 | 8.29 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2021) | |||||||||||
Residential | 424,701 | 414,438 | 403,793 | ||||||||
Commercial | 52,360 | 50,582 | 50,025 | ||||||||
Industrial | 6,445 | 5,681 | 5,481 | ||||||||
Governmental | 2,120 | 2,025 | 2,053 | ||||||||
Total Retail Customers | 485,626 | 472,726 | 461,352 | ||||||||
Totals may not foot due to rounding. | |||||||||||
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY TEXAS, INC. | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
PLANT | TOTAL PLANT – 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | 155 | Coal | Base | 11,509 | 1,438 | 423 | 561,592 | 3 | LNB w/ Sep OFA, ESP, ACI | 444,536 | 45.3 | 20,158 | ||||||||||||||||||||||||||||||||
Big Cajun 2 | 3 | 18% | 1983 | 96 | Coal | Base | 11,455 | 1,204 | 247 | 423,288 | 3 | LNB w/ OFA, ESP, ACI | 351,849 | 42.1 | 14,818 | ||||||||||||||||||||||||||||||||
Lewis Creek | 1 | 100% | 1970 | 250 | Gas/Oil | Intermediate | 11,350 | 3 | 98 | 503,140 | SCR | 1,296,597 | 104.3 | 135,285 | |||||||||||||||||||||||||||||||||
2 | 100% | 1971 | 250 | Gas/Oil | Intermediate | 2 | 65 | 341,507 | SCR | ||||||||||||||||||||||||||||||||||||||
Sabine | 1 | 100% | 1962 | 202 | Gas/Oil | Intermediate | 11,029 | 1 | 197 | 157,780 | 3,249,333 | 53.7 | 174,526 | ||||||||||||||||||||||||||||||||||
3 | 100% | 1966 | 380 | Gas/Oil | Intermediate | 2 | 313 | 429,833 | LNB w/ Sep OFA | ||||||||||||||||||||||||||||||||||||||
4 | 100% | 1974 | 500 | Gas | Intermediate | 5 | 1,109 | 908,197 | IFGR | ||||||||||||||||||||||||||||||||||||||
5 | 100% | 1979 | 437 | Gas/Oil | Intermediate | 3 | 424 | 606,335 | LNB w/ Closed-coupled OFA | ||||||||||||||||||||||||||||||||||||||
Hardin County | 1 | 100% | 2010 | 73 | Gas | Peaking | 2 | 6,555 | Dry LNB | 8,605 | 254.8 | 2,192 | |||||||||||||||||||||||||||||||||||
2 | 100% | 2010 | 72 | Gas | Peaking | 2.2 | 6,167 | Dry LNB | 8,265 | — | |||||||||||||||||||||||||||||||||||||
Montgomery County | 92% | 2021 | 840 | Gas | Intermediate | 6,802 | 11 | 116 | 2,080,686 | Dry LNB, SCR, O2 Catalyst | 5,080,621 | 35.7 | 181,307 | ||||||||||||||||||||||||||||||||||
Total | 3,256 | 2,667 | 2,995 | 6,025,080 | 6 | 10,439,807 | 50.6 | 528,286 | |||||||||||||||||||||||||||||||||||||||
(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 2019 – 2021 based on 18/24 month operating cycle. | |||||||||||
CAPABILITY FACTOR (%) | 2021 | 2020 | 2019 | ||||||||
ANO | 85.5 | 88.7 | 82.9 | ||||||||
Grand Gulf | 95.0 | 71.9 | 76.4 | ||||||||
River Bend | 89.1 | 84.7 | 79.8 | ||||||||
Waterford 3 | 98.7 | 90.2 | 82.4 | ||||||||
Entergy Southeast Average | 90.7 | 84.8 | 80.9 | ||||||||
Industry Average | 92.0 | 93.5 | 93.4 |
The following table shows plant performance for 2021 and average for one three-year period. | ||||||||
PRODUCTION COST ($/MWh) (a) | 2021 | 2018-2020 | ||||||
ANO | 22.8 | 26.6 | ||||||
Grand Gulf | 23.2 | 32.2 | ||||||
River Bend | 28.7 | 31.4 | ||||||
Waterford 3 | 23.2 | 25.1 | ||||||
Entergy Southeast Average | 24.0 | 28.4 | ||||||
(a) Fuel and other operation and maintenance expenses according to accounting standards that directly relate to the production of electricity per MWh; excludes special items. |
INDIVIDUAL PLANT INFORMATION | |||||||||||||||||
ANO | GRAND GULF | RIVER BEND | WATERFORD 3 | ||||||||||||||
UNIT 1 | UNIT 2 | ||||||||||||||||
Owner | Entergy Arkansas | Entergy Arkansas | System Energy - 90% Cooperative Energy - 10% | Entergy Louisiana | Entergy Louisiana | ||||||||||||
Commercial Operation Date | December 74 | March 80 | July 85 | June 86 | September 85 | ||||||||||||
License Expiration Date | 5/20/2034 | 7/17/2038 | 11/1/2044 | 8/29/2045 | 12/18/2044 | ||||||||||||
Architect/Engineer | Bechtel Power | Bechtel Power | Bechtel Power | Stone & Webster | Ebasco | ||||||||||||
Reactor Manufacturer | Babcox & Wilcox | Combustion Engineering | General Electric | General Electric | Combustion Engineering | ||||||||||||
Reactor Type | PWR | PWR | BWR | BWR | PWR | ||||||||||||
Turbine Generator Manufacturer | Westinghouse | General Electric | Kraftwerk Union | General Electric | Westinghouse | ||||||||||||
Owned and Leased Capability (MW)(a) | 833 | 985 | 1,272 | 967 | 1,165 | ||||||||||||
Refueling Data: | |||||||||||||||||
Last Date | 4/10/21 – | 9/25/21 – | 2/26/22 – | 2/21/21 – | 9/25/20 – | ||||||||||||
5/9/2021 | 11/29/2021 | 4/29/2022 | 3/20/2021 | 11/1/2020 | |||||||||||||
Number of Days | 29 | 65 | 62 | 28 | 37 | ||||||||||||
Next Scheduled Refueling | Fall 22 | Spring 23 | Spring 22 | Spring 23 | Spring 22 | ||||||||||||
2021 Capability Factor (%) | 89.5 | 81.4 | 95 | 89.1 | 98.7 | ||||||||||||
($ in millions as of December 31, 2021) | |||||||||||||||||
Net Book Value | 1,954(b) | 1,994 | 1,592(c) | 2,457 | |||||||||||||
Decommissioning Trust Fair Values | 1,438(b) | 1,385 | 1,317(c) | 798 | |||||||||||||
Decommissioning Liability | 1,370(b) | 1,008 | 734(c) | 888 | |||||||||||||
(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 | 44576 | 44588 | ||||||||||||||
Kimberly A. O'Guinn | Republican | 44578 | 44584 | ||||||||||||||
Justin Tate | Republican | 44580 | 44586 | ||||||||||||||
LOUISIANA | |||||||||||||||||
Lambert C. Boissiere, III - Chairperson | Democrat | 1/05 | 12/22 | ||||||||||||||
Mike Francis - Vice-Chairperson | Republican | 11/16 | 12/22 | ||||||||||||||
Eric Skrmetta | Republican | 1/09 | 12/26 | ||||||||||||||
Craig Greene | Republican | 06/17 | 12/24 | ||||||||||||||
Foster L. Campbell, Jr. | Democrat | 1/03 | 12/26 | ||||||||||||||
MISSISSIPPI | |||||||||||||||||
Dane Maxwell – Chairperson | Republican | 1/20 | 12/23 | ||||||||||||||
Brent Bailey | Republican | 1/20 | 12/23 | ||||||||||||||
Brandon Presley | Democrat | 1/08 | 12/23 | ||||||||||||||
NEW ORLEANS | |||||||||||||||||
Helena Moreno | Democrat | 5/18 | 1/26 | ||||||||||||||
Jean Paul "JP" Morrell - Chairperson of Utility Committee | Democrat | 1/22 | 1/26 | ||||||||||||||
Lesli Harris | Democrat | 1/22 | 1/26 | ||||||||||||||
Joseph Giarrusso | Democrat | 5/18 | 1/26 | ||||||||||||||
Freddie King III | Democrat | 1/22 | 1/26 | ||||||||||||||
Eugene J. Green | Democrat | 1/22 | 1/26 | ||||||||||||||
Oliver Thomas | Democrat | 1/22 | 1/26 | ||||||||||||||
TEXAS | |||||||||||||||||
Peter Lake - Chairperson | Republican | 4/21 | 9/23 | ||||||||||||||
Will McAdams | Republican | 4/21 | 9/25 | ||||||||||||||
Lori Cobos | Republican | 6/21 | 9/25 | ||||||||||||||
Jimmy Glotfelty | Republican | 8/21 | 9/25 | ||||||||||||||
As of May 2022 |
ENTERGY WHOLESALE COMMODITIES | |||||||||||||||||||||||||||||||||||
EWC QUARTERLY FINANCIAL METRICS | |||||||||||||||||||||||||||||||||||
2021 | 2020 | FY | |||||||||||||||||||||||||||||||||
($ millions) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||||||||||||||
As-Reported Earnings | 38 | (275) | 26 | 90 | (121) | (110) | 85 | 31 | (68) | (63) | (58) | ||||||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||||||||||||||
Adjusted EBITDA | 76 | (338) | 57 | 118 | (87) | 122 | (15) | 24 | 5 | 137 | (224) | ||||||||||||||||||||||||
EWC ANNUAL FINANCIAL METRICS | |||||||||||||||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||
As-Reported Earnings | (121) | (63) | 149 | ||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||
Adjusted EBITDA | (87) | 137 | (13) |
EWC QUARTERLY OPERATIONAL METRICS | |||||||||||||||||||||||||||||||||||
2021 | 2020 | FY | |||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | % CHANGE | |||||||||||||||||||||||||
Owned Capacity (MW) (a) | 2,246 | 1,205 | 1,205 | 1,205 | 1,205 | 3,274 | 2,246 | 2,246 | 2,246 | 2,246 | (46) | % | |||||||||||||||||||||||
GWh billed | 4,413 | 2,687 | 2,166 | 2,065 | 11,328 | 6,757 | 4,958 | 4,332 | 4,442 | 20,489 | (45) | % | |||||||||||||||||||||||
EWC Nuclear | |||||||||||||||||||||||||||||||||||
Capacity Factor | 99 | % | 94 | % | 97 | % | 100 | % | 97 | % | 99 | % | 96 | % | 83 | % | 89 | % | 93 | % | 4 | % | |||||||||||||
GWh billed | 3,988 | 2,356 | 1,702 | 1,790 | 9,836 | 6,259 | 4,580 | 3,943 | 4,081 | 18,863 | (48) | % | |||||||||||||||||||||||
Production cost per MWh (b) | $ | 18.46 | $ | 27.51 | $ | 28.91 | $ | 28.76 | $ | 24.31 | $ | 15.42 | $ | 19.45 | $ | 21.85 | $ | 19.87 | $ | 18.58 | 31 | % | |||||||||||||
(a) 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; Indian Point 3 (1,041 MW) was shutdown April 30, 2021. | |||||||||||||||||||||||||||||||||||
(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 | |||||||||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||||||||
Owned Capacity (MW) (a) | 1,205 | 2,246 | 3,274 | ||||||||||||||||||||
GWh billed | 11,328 | 20,489 | 28,088 | ||||||||||||||||||||
EWC Nuclear | |||||||||||||||||||||||
Capacity Factor | 97 | % | 93 | % | 93 | % | |||||||||||||||||
GWh billed | 9,836 | 18,863 | 25,929 | ||||||||||||||||||||
Production cost per MWh (b) | $ | 24.31 | $ | 18.58 | $ | 18.29 | |||||||||||||||||
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; Indian Point 3 (1,041 MW) was shutdown April 30, 2021. | |||||||||||||||||||||||
(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, 2021 | PLANTS | UNITS | MW | MW | % | ||||||||||||||||||
Gas/Oil | 1 | 1 | 425 | 213 | 18 | ||||||||||||||||||
Coal | — | — | — | 181 | 15 | ||||||||||||||||||
Total Fossil | 1 | 1 | 425 | 394 | 33 | ||||||||||||||||||
Nuclear | 3 | 3 | 1,611 | 811 | 67 | ||||||||||||||||||
Total Capacity | 4 | 4 | 2,036 | 1,205 | 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 3 | PLANT | |||||||
Entergy Purchase Date | 36851 | 39183 | ||||||
Commercial Operation Date | August 76 | December 71 | ||||||
License Expiration Date | 4/30/25 | 47931 | ||||||
Architect/Engineer | United Engineers & Constructors | Combustion Engineering | ||||||
Reactor Manufacturer | Westinghouse | Combustion Engineering | ||||||
Reactor Type | PWR | PWR | ||||||
Turbine Generator Manufacturer | Westinghouse | Westinghouse | ||||||
Net MWs in Operation (MW) | 1,041 | 811 | ||||||
Refueling Data: | ||||||||
Last Date | 3/11/19 – | 8/31/20 – | ||||||
4/9/19 | 10/21/20 | |||||||
Number of Days | 29 | 52 | ||||||
Upcoming Refueling Outages | ||||||||
2021 Capacity Factor | 94 | % | 99 | % | ||||
Net Book Value of Plant and Related Assets | n/a | (50) | ||||||
($ in millions as of December 31, 2021) | ||||||||
Capacity Zone (ICAP/UCAP) | NYISO Lower Hudson Valley | MISO | ||||||
Nearest Market Hub | Zone G (a) | Indiana | ||||||
(a) 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 | — | — | — | 576 | — | ||||||||||||
Decommissioning Liability | — | — | — | 682 (a) | — | ||||||||||||
($ in millions as of December 31, 2021) | |||||||||||||||||
Planned closing date | n/a (b) | n/a (c) | n/a (d) | 5/31/2022 | n/a (e) | ||||||||||||
(a) Includes $42 million for Big Rock Point. | |||||||||||||||||
(b) Indian Point 1 has been shut down and in safe storage since the 1970s. | |||||||||||||||||
(c) Indian Point 2 was shutdown April 30, 2020. | |||||||||||||||||
(d) Indian Point 3 was shutdown April 30, 2021. | |||||||||||||||||
(e) Pilgrim was shutdown May 31, 2019 and sold on August 26, 2019. |
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 | 632 | 206 | 277,547 | 2 | LNB w/Sep OFA, ESP, ACI | ||||||||||||||
Nelson 6 | Base | 527 | 155 | 205,760 | 1 | LNB w Sep OFA, ESP, ACI | ||||||||||||||
RS Cogen | Base | 3 | 388 | 675,349 | — | Dry LNB/SCR | ||||||||||||||
Totals may not foot due to rounding. | ||||||||||||||||||||
(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. | ||||||||||||||||||||
EWC NON-NUCLEAR WHOLESALE ASSETS | |||||||||||||||||||||||
EWC NON-NUCLEAR WHOLESALE ASSETS SECURITIES DETAIL | |||||||||||||||||||||||
DEBT: | |||||||||||||||||||||||
OUTSTANDING AS OF DECEMBER 31, | |||||||||||||||||||||||
ENTERGY’S SHARE | |||||||||||||||||||||||
($ millions) | 2021 | 2020 | MATURITY | RATE | |||||||||||||||||||
RS Cogen Senior Project Debt | |||||||||||||||||||||||
Bank Portion(a) | $— | $— | 10/17/2018 | LIBOR + 2.25% | |||||||||||||||||||
Institutional Portion | $7 | $17 | 10/15/2022 | Fixed 8.73% | |||||||||||||||||||
RS Cogen Subordinated Debt(b) | $— | $— | 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 | 2021 | 2020 | |||||||||||||||||
1.67 | % | $139 | $139 | |||||||||||||||||
SHARES OUTSTANDING | ||||||||||||||||||||
PREFERRED STOCK: | AS OF DECEMBER 31, | AS OF DECEMBER 31, | ||||||||||||||||||
($ millions) | RATE | 2021 | 2010 | 2021 | 2020 | |||||||||||||||
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 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 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 | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
As-reported net income (loss) attributable to Entergy Corporation (A) | 1,118 | 1,388 | 1,241 | ||||||||
Adjustments (B) | (97) | 250 | 177 | ||||||||
Adjusted earnings, (non-GAAP) (A-B) | 1,215 | 1,138 | 1,064 | ||||||||
Average common equity (C) | 11,282 | 10,575 | 9,534 | ||||||||
($ per share) | |||||||||||
As-reported earnings per share (D) | 5.54 | 6.90 | 6.30 | ||||||||
Adjusted earnings per share (E) | 6.02 | 5.66 | 5.40 | ||||||||
Common dividend paid per share (F) | 3.86 | 3.74 | 3.66 | ||||||||
(%) | |||||||||||
ROE – As-reported (A/C) | 9.9 | 13.1 | 13.0 | ||||||||
ROE – Adjusted (non-GAAP) ((A-B)/C) | 10.8 | 10.8 | 11.2 | ||||||||
Common dividend payout – As-reported % (F/D) | 70 | 54 | 58 | ||||||||
Common dividend payout – Adjusted % (F/E) | 64 | 66 | 68 | ||||||||
Calculations may differ due to rounding. |
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q20-4Q21 | ||||||||||||||||||||||||||
($ millions) | 1Q21 | 2Q21 | 3Q21 | 4Q21 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | ||||||||||||||||||
As-reported net income (loss) attributable to Entergy Corporation, rolling 12 | 1,604 | 1,238 | 1,248 | 1,118 | 1,105 | 1,230 | 1,385 | 1,388 | ||||||||||||||||||
months (A) | ||||||||||||||||||||||||||
Adjustments, rolling 12 months (B) | 399 | 32 | 45 | (97) | (31) | 80 | 252 | 250 | ||||||||||||||||||
Adjusted earnings, rolling 12 months (non-GAAP) (A-B) | 1,205 | 1,206 | 1,202 | 1,215 | 1,136 | 1,150 | 1,134 | 1,138 | ||||||||||||||||||
Average common equity (C) | 10,621 | 10,657 | 11,012 | 11,282 | 9,597 | 10,112 | 10,403 | 10,575 | ||||||||||||||||||
(%) | ||||||||||||||||||||||||||
ROE – As-reported (A/C) | 15.1 | 11.6 | 11.3 | 9.9 | 11.5 | 12.2 | 13.3 | 13.1 | ||||||||||||||||||
ROE – Adjusted (non-GAAP) ((A-B)/C) | 11.3 | 11.3 | 10.9 | 10.8 | 11.8 | 11.4 | 10.9 | 10.8 | ||||||||||||||||||
Calculations may differ due to rounding. | ||||||||||||||||||||||||||
REG G RECONCILIATIONS | |||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
Total debt (A) | 27,154 | 24,062 | 19,885 | ||||||||
Less securitization debt (B) | 84 | 175 | 298 | ||||||||
Total debt, excluding securitization debt (A-B) | 27,071 | 23,887 | 19,587 | ||||||||
Less cash and cash equivalents (C) | 443 | 1,759 | 426 | ||||||||
Net debt, excluding securitization debt (A-B-C) | 26,628 | 22,128 | 19,161 | ||||||||
Total capitalization (D) | 39,079 | 35,243 | 30,363 | ||||||||
Less securitization debt (E) | 84 | 175 | 298 | ||||||||
Total capitalization, excluding securitization debt (D-E) | 38,995 | 35,068 | 30,065 | ||||||||
Less cash and cash equivalents (F) | 443 | 1,759 | 426 | ||||||||
Net capitalization, excluding securitization debt (D-E-F) | 38,553 | 33,309 | 29,639 | ||||||||
(%) | |||||||||||
Debt to capital (A/D) | 69.5 | 68.3 | 65.5 | ||||||||
Debt to capital, excluding securitization debt ((A-B)/D-E)) | 69.4 | 68.1 | 65.1 | ||||||||
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F)) | 69.1 | 66.4 | 64.6 | ||||||||
Revolver capacity (G) | 3,985 | 4,110 | 3,810 | ||||||||
Storm escrows (L) | 33 | 116 | 412 | ||||||||
Gross liquidity (C+G) | 4,428 | 5,869 | 4,236 | ||||||||
Net liquidity (C+G-J) | 3,227 | 4,241 | 2,289 | ||||||||
Net liquidity, including storm escrows (C+G-J+L) | 3,260 | 4,357 | 2,701 | ||||||||
Entergy Corporation notes: | |||||||||||
Due September 2020 | — | — | 450 | ||||||||
Due July 2022 | 650 | 650 | 650 | ||||||||
Due September 2025 | 800 | 800 | — | ||||||||
Due September 2026 | 750 | 750 | 750 | ||||||||
Due June 2028 | 650 | — | — | ||||||||
Due June 2030 | 600 | 600 | — | ||||||||
Due June 2031 | 650 | — | — | ||||||||
Due June 2050 | 600 | 600 | — | ||||||||
Total parent long-term debt (H) | 4,700 | 3,400 | 1,850 | ||||||||
Revolver draw (I) | 165 | 165 | 440 | ||||||||
Commercial paper (J) | 1,201 | 1,627 | 1,947 | ||||||||
Unamortized debt issuance and discounts (K) | (49) | (38) | (8) | ||||||||
Total parent debt (H)+(I)+(J)+(K) | 6,017 | 5,154 | 4,229 | ||||||||
Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B) | 22.2 | 21.6 | 21.6 | ||||||||
Calculations may differ due to rounding. |
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q20-4Q21 | ||||||||||||||||||||||||||
($ millions) | 1Q21 | 2Q21 | 3Q21 | 4Q21 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | ||||||||||||||||||
Total debt (A) | 25,803 | 25,435 | 25,695 | 27,154 | 21,465 | 21,493 | 22,127 | 24,062 | ||||||||||||||||||
Less securitization debt (B) | 147 | 114 | 90 | 84 | 271 | 232 | 209 | 175 | ||||||||||||||||||
Total debt, excluding securitization debt (A-B) | 25,656 | 25,321 | 25,605 | 27,071 | 21,193 | 21,261 | 21,918 | 23,887 | ||||||||||||||||||
Less cash and cash equivalents (C) | 1,743 | 687 | 1,000 | 443 | 1,464 | 935 | 1,240 | 1,759 | ||||||||||||||||||
Net debt, excluding securitization debt (A-B-C) | 23,914 | 24,634 | 24,605 | 26,628 | 19,730 | 20,326 | 20,678 | 22,128 | ||||||||||||||||||
Total capitalization (D) | 37,075 | 36,577 | 37,202 | 39,079 | 31,943 | 32,173 | 33,153 | 35,243 | ||||||||||||||||||
Less securitization debt (E) | 147 | 114 | 90 | 84 | 271 | 232 | 209 | 175 | ||||||||||||||||||
Total capitalization, excluding securitization debt (D-E) | 36,928 | 36,463 | 37,112 | 38,995 | 31,672 | 31,941 | 32,944 | 35,068 | ||||||||||||||||||
Less cash and cash equivalents (F) | 1,743 | 687 | 1,000 | 443 | 1,464 | 935 | 1,240 | 1,759 | ||||||||||||||||||
Net capitalization, excluding securitization debt (D-E-F) | 35,185 | 35,777 | 36,112 | 38,553 | 30,208 | 31,006 | 31,704 | 33,309 | ||||||||||||||||||
(%) | ||||||||||||||||||||||||||
Debt to capital (A/D) | 69.6 | 69.5 | 69.1 | 69.5 | 67.2 | 66.8 | 66.7 | 68.3 | ||||||||||||||||||
Debt to capital, excluding securitization debt ((A-B)/D-E)) | 69.5 | 69.4 | 69.0 | 69.4 | 66.9 | 66.6 | 66.5 | 68.1 | ||||||||||||||||||
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F)) | 68.0 | 68.9 | 68.1 | 69.1 | 65.3 | 65.6 | 65.2 | 66.4 | ||||||||||||||||||
Revolver capacity (G) | 4,220 | 4,125 | 3,925 | 3,985 | 3,348 | 4,110 | 4,125 | 4,110 | ||||||||||||||||||
Storm escrows (L) | 72 | 72 | 33 | 33 | 373 | 373 | 373 | 116 | ||||||||||||||||||
Gross liquidity (C+G) | 5,963 | 4,812 | 4,925 | 4,428 | 4,811 | 5,045 | 5,364 | 5,869 | ||||||||||||||||||
Net liquidity (C+G-J) | 4,935 | 3,946 | 3,919 | 3,227 | 2,870 | 3,099 | 3,966 | 4,241 | ||||||||||||||||||
Net liquidity, including storm escrows (C+G-J+L) | 5,007 | 4,018 | 3,952 | 3,260 | 3,242 | 3,472 | 4,339 | 4,357 | ||||||||||||||||||
Entergy Corporation notes: | ||||||||||||||||||||||||||
Due September 2020 | — | — | — | — | 450 | — | — | — | ||||||||||||||||||
Due July 2022 | 650 | 650 | 650 | 650 | 650 | 650 | 650 | 650 | ||||||||||||||||||
Due September 2025 | 800 | 800 | 800 | 800 | — | — | 800 | 800 | ||||||||||||||||||
Due September 2026 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | ||||||||||||||||||
Due June 2028 | 650 | 650 | 650 | 650 | — | — | — | — | ||||||||||||||||||
Due June 2030 | 600 | 600 | 600 | 600 | — | 600 | 600 | 600 | ||||||||||||||||||
Due June 2031 | 650 | 650 | 650 | 650 | — | — | — | — | ||||||||||||||||||
Due June 2050 | 600 | 600 | 600 | 600 | — | 600 | 600 | 600 | ||||||||||||||||||
Total parent long-term debt (H) | 4,700 | 4,700 | 4,700 | 4,700 | 1,850 | 2,600 | 3,400 | 3,400 | ||||||||||||||||||
Revolver draw (I) | 55 | 150 | 325 | 165 | 922 | 160 | 150 | 165 | ||||||||||||||||||
Commercial paper (J) | 1,028 | 866 | 1,006 | 1,201 | 1,942 | 1,946 | 1,398 | 1,627 | ||||||||||||||||||
Unamortized debt issuance and discounts (K) | (54) | (52) | (51) | (49) | (8) | (32) | (40) | (38) | ||||||||||||||||||
Total parent debt (H)+(I)+(J)+(K) | 5,728 | 5,664 | 5,981 | 6,017 | 4,706 | 4,675 | 4,909 | 5,154 | ||||||||||||||||||
Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B) | 22.3 | 22.4 | 23.4 | 22.2 | 22.2 | 22 | 22.4 | 21.6 | ||||||||||||||||||
Calculations may differ due to rounding. | ||||||||||||||||||||||||||
REG G RECONCILIATIONS | |||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
Total debt (A) | 27,154 | 24,062 | 19,885 | ||||||||
Less securitization debt (B) | 84 | 175 | 298 | ||||||||
Total debt, excluding securitization debt (C) | 27,071 | 23,887 | 19,587 | ||||||||
Net cash flow provided by operating activities, rolling 12 months (D) | 2,301 | 2,690 | 2,817 | ||||||||
Allowance for borrowed funds used during construction, rolling 12 months (E) | (29) | (52) | (65) | ||||||||
Working capital items in net cash flow provided by operating activities, rolling 12 months: | |||||||||||
Receivables | (85) | (139) | (101) | ||||||||
Fuel inventory | 18 | (27) | (28) | ||||||||
Accounts payable | 270 | 137 | (72) | ||||||||
Taxes accrued | (21) | 208 | (21) | ||||||||
Interest accrued | (11) | 8 | 1 | ||||||||
Other working capital accounts | (54) | (143) | (3) | ||||||||
Securitization regulatory charges | 83 | 124 | 122 | ||||||||
Total (F) | 200 | 168 | (102) | ||||||||
FFO, rolling 12 months (G) = (D)+(E)-(F) | 2,071 | 2,470 | 2,854 | ||||||||
FFO to debt, excluding securitization debt (G)/(C) | 7.7 | % | 10.3 | % | 14.6 | % | |||||
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H) | 87 | 70 | 301 | ||||||||
Severance and retention payments associated with exit of EWC (rolling 12 months pre-tax) (I) | 120 | 55 | 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)] | 8.4 | % | 10.9 | % | 16.8 | % | |||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q20-4Q21 | ||||||||||||||||||||||||||
($ millions) | 1Q21 | 2Q21 | 3Q21 | 4Q21 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | ||||||||||||||||||
Total debt (A) | 25,803 | 25,435 | 25,695 | 27,154 | 21,465 | 21,493 | 22,127 | 24,062 | ||||||||||||||||||
Less securitization debt (B) | 147 | 114 | 90 | 84 | 271 | 232 | 209 | 175 | ||||||||||||||||||
Total debt, excluding securitization debt (C) | 25,656 | 25,321 | 25,605 | 27,071 | 21,193 | 21,261 | 21,918 | 23,887 | ||||||||||||||||||
Net cash flow provided by operating activities, rolling 12 months (D) | 1,981 | 1,988 | 2,331 | 2,301 | 2,974 | 3,212 | 3,069 | 2,690 | ||||||||||||||||||
Allowance for borrowed funds used during construction, rolling 12 months (E) | (43) | (38) | (34) | (29) | (63) | (58) | (55) | (52) | ||||||||||||||||||
Working capital items in net cash flow provided by operating activities, rolling 12 months: | ||||||||||||||||||||||||||
Receivables | (262) | (263) | (183) | (85) | (71) | (5) | (71) | (139) | ||||||||||||||||||
Fuel inventory | 15 | 9 | 20 | 18 | (39) | (35) | (14) | (27) | ||||||||||||||||||
Accounts payable | 90 | 45 | 326 | 270 | (136) | (92) | 277 | 137 | ||||||||||||||||||
Taxes accrued | 21 | 93 | 20 | (21) | (21) | 62 | 188 | 208 | ||||||||||||||||||
Interest accrued | 9 | 3 | 26 | (11) | 17 | 5 | 14 | 8 | ||||||||||||||||||
Other working capital accounts | (165) | (166) | (124) | (54) | 17 | (15) | (98) | (143) | ||||||||||||||||||
Securitization regulatory charges | 124 | 119 | 98 | 83 | 122 | 123 | 125 | 124 | ||||||||||||||||||
Total (F) | (170) | (159) | 184 | 200 | (111) | 43 | 421 | 168 | ||||||||||||||||||
FFO, rolling 12 months (G) = (D)+(E)-(F) | 2,109 | 2,109 | 2,113 | 2,071 | 3,023 | 3,110 | 2,594 | 2,470 | ||||||||||||||||||
FFO to debt, excluding securitization debt (G)/(C) | 8.2 | % | 8.3 | % | 8.3 | % | 7.7 | % | 14.3 | % | 14.6 | % | 11.8 | % | 10.3 | % | ||||||||||
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H) | 80 | 83 | 85 | 87 | 236 | 189 | 119 | 70 | ||||||||||||||||||
Severance and retention payments associated with exit of EWC (rolling 12 months pre-tax) (I) | 55 | 160 | 158 | 120 | 141 | 102 | 17 | 55 | ||||||||||||||||||
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)] | 8.7 | % | 9.3 | % | 9.2 | % | 8.4 | % | 16.0 | % | 16.0 | % | 12.5 | % | 10.9 | % | ||||||||||
Calculations may differ due to rounding. | ||||||||||||||||||||||||||
REG G RECONCILIATIONS | |||||||||||
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
As-reported net income (loss) applicable to common stock/equity (A) | 1,490 | 1,800 | 1,411 | ||||||||
Utility adjustments | |||||||||||
Gain on sale | 11 | — | — | ||||||||
Income tax valuation allowance | (8) | — | — | ||||||||
Provision for uncertain tax position | (5) | — | — | ||||||||
State corporate income tax rate change | 29 | — | — | ||||||||
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 | — | ||||||||
Reversal of valuation allowance on internal restructuring | — | — | 41 | ||||||||
Total adjustments (B) | 27 | 377 | 41 | ||||||||
Adjusted earnings (A-B) | 1,463 | 1,423 | 1,370 | ||||||||
Average common stock or member's equity (C) | 16,988 | 15,038 | 13,219 | ||||||||
Gross debt (D) | 20,998 | 18,769 | 15,517 | ||||||||
Less securitization debt (E) | 84 | 175 | 298 | ||||||||
Gross debt, excluding securitization debt (D-E) | 20,915 | 18,594 | 15,219 | ||||||||
Less cash and cash equivalents (F) | 311 | 1,526 | 202 | ||||||||
Net debt, excluding securitization debt (D-E-F) | 20,603 | 17,068 | 15,018 | ||||||||
Total capitalization (G) | 39,049 | 35,192 | 29,631 | ||||||||
Less securitization debt (H) | 84 | 175 | 298 | ||||||||
Total capitalization, excluding securitization debt (G-H) | 38,965 | 35,017 | 29,333 | ||||||||
Less cash and cash equivalents (I) | 311 | 1,526 | 202 | ||||||||
Net capitalization, excluding securitization debt (G-H-I) | 38,654 | 33,491 | 29,131 | ||||||||
(%) | |||||||||||
ROE – As-Reported (A/C) | 8.8 | 12.0 | 10.7 | ||||||||
ROE – Adjusted ((A-B)/C) | 8.6 | 9.5 | 10.4 | ||||||||
Debt to capital (D/G) | 53.8 | 53.3 | 52.4 | ||||||||
Debt to capital, excluding securitization debt ((D-E)/(G-H)) | 53.7 | 53.1 | 51.9 | ||||||||
Net debt to net capital, excluding securitization debt ((D-E-F)/(G-H-I)) | 53.3 | 51.0 | 51.6 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q20-4Q21 | ||||||||||||||||||||||||||
($ millions) | 1Q21 | 2Q21 | 3Q21 | 4Q21 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | ||||||||||||||||||
As-reported net income applicable to common stock/equity (A) | 357 | 326 | 570 | 238 | 320 | 345 | 552 | 584 | ||||||||||||||||||
Less adjustments (B) | — | — | 11 | 16 | — | — | — | 378 | ||||||||||||||||||
Adjusted net income (loss) (A-B) | 357 | 326 | 559 | 222 | 320 | 345 | 552 | 206 | ||||||||||||||||||
As-reported net income (loss) applicable to common stock/equity-rolling | ||||||||||||||||||||||||||
12 months (C) | 1,837 | 1,818 | 1,837 | 1,490 | 1,500 | 1,514 | 1,487 | 1,800 | ||||||||||||||||||
Adjustments in prior quarters | 377 | 377 | 377 | 11 | 41 | 41 | 41 | — | ||||||||||||||||||
Adjustments in current quarter | — | — | 11 | 16 | — | — | — | 377 | ||||||||||||||||||
Total adjustments (D) | 377 | 377 | 388 | 27 | 41 | 41 | 41 | 377 | ||||||||||||||||||
Adjusted earnings, rolling 12 months (C-D) | 1,460 | 1,441 | 1,449 | 1,463 | 1,459 | 1,472 | 1,446 | 1,423 | ||||||||||||||||||
Average common stock or member's equity (E) | 15,465 | 15,758 | 16,250 | 16,988 | 13,544 | 13,703 | 14,284 | 15,038 | ||||||||||||||||||
Gross debt (F) | 19,936 | 19,632 | 19,576 | 20,998 | 16,620 | 16,679 | 17,079 | 18,769 | ||||||||||||||||||
Less securitization debt (G) | 147 | 114 | 90 | 84 | 271 | 232 | 209 | 175 | ||||||||||||||||||
Gross debt, excluding securitization debt (F-G) | 19,789 | 19,518 | 19,486 | 20,915 | 16,348 | 16,446 | 16,870 | 18,594 | ||||||||||||||||||
Less cash and cash equivalents (H) | 1,050 | 523 | 622 | 311 | 998 | 671 | 972 | 1,526 | ||||||||||||||||||
Net debt, excluding securitization debt (F-G-H) | 18,739 | 18,995 | 18,864 | 20,603 | 15,350 | 15,775 | 15,898 | 17,068 | ||||||||||||||||||
Total capitalization (I) | 36,716 | 36,771 | 37,176 | 39,049 | 31,230 | 31,516 | 32,439 | 35,192 | ||||||||||||||||||
Less securitization debt (J) | 147 | 114 | 90 | 84 | 271 | 232 | 209 | 175 | ||||||||||||||||||
Total capitalization, excluding securitization debt (I-J) | 36,569 | 36,657 | 37,086 | 38,965 | 30,959 | 31,284 | 32,230 | 35,017 | ||||||||||||||||||
Less cash and cash equivalents (K) | 1,050 | 523 | 622 | 311 | 998 | 671 | 972 | 1,526 | ||||||||||||||||||
Net capitalization, excluding securitization debt (I-J-K) | 35,520 | 36,134 | 36,464 | 38,654 | 29,961 | 30,612 | 31,258 | 33,491 | ||||||||||||||||||
(%) | ||||||||||||||||||||||||||
ROE – As-Reported (C/E) | 11.9 | 11.5 | 11.3 | 8.8 | 11.1 | 11.0 | 10.4 | 12.0 | ||||||||||||||||||
ROE – Adjusted ((C-D)/E) | 9.4 | 9.1 | 8.9 | 8.6 | 10.8 | 10.7 | 10.1 | 9.5 | ||||||||||||||||||
Debt to capital ratio (F/I) | 54.3 | 53.4 | 52.7 | 53.8 | 53.2 | 52.9 | 52.6 | 53.3 | ||||||||||||||||||
Debt to capital, excluding securitization debt ((F-G)/(I-J)) | 54.1 | 53.2 | 52.5 | 53.7 | 52.8 | 52.6 | 52.3 | 53.1 | ||||||||||||||||||
Net debt to net capital, excluding securitization debt ((F-G-H)/(I-J-L)) | 52.8 | 52.6 | 51.7 | 53.3 | 51.2 | 51.5 | 50.9 | 51.0 | ||||||||||||||||||
Calculations may differ due to rounding. | ||||||||||||||||||||||||||
REG G RECONCILIATIONS | |||||||||||
ENTERGY ARKANSAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
As-reported earnings applicable to member's equity (A) | 317 | 245 | 263 | ||||||||
Adjustments | |||||||||||
Income tax valuation allowance | (3) | — | — | ||||||||
State corporate income tax rate change | — | — | — | ||||||||
2014/2015 IRS audit settlement | — | 6 | — | ||||||||
Total adjustments (B) | (3) | 6 | — | ||||||||
Adjusted earnings (A-B) | 320 | 239 | 263 | ||||||||
Average member's equity (C) | 3,409 | 3,201 | 3,055 | ||||||||
Gross debt (D) | 3,974 | 3,980 | 3,528 | ||||||||
Less securitization debt (E) | — | — | 7 | ||||||||
Gross debt, excluding securitization debt (D-E) | 3,974 | 3,980 | 3,522 | ||||||||
Less cash and cash equivalents (F) | 13 | 192 | 3 | ||||||||
Net debt, excluding securitization debt (D-E-F) | 3,961 | 3,788 | 3,518 | ||||||||
Total capitalization (G) | 7,550 | 7,256 | 6,654 | ||||||||
Less securitization debt (H) | — | — | 7 | ||||||||
Total capitalization, excluding securitization debt (G-H) | 7,550 | 7,256 | 6,647 | ||||||||
Less cash and cash equivalents (I) | 13 | 192 | 3 | ||||||||
Net capitalization, excluding securitization debt (G-H-I) | 7,537 | 7,064 | 6,644 | ||||||||
(%) | |||||||||||
Return on average member's equity – As-Reported (A/C) | 9.3 | 7.7 | 8.6 | ||||||||
Return on average member's equity – Adjusted ((A-B)/C) | 9.4 | 7.5 | 8.6 | ||||||||
Debt to capital (D/G) | 52.6 | 54.8 | 53.0 | ||||||||
Debt to capital, excluding securitization debt ((D-E)/(G-H)) | 52.6 | 54.8 | 53.0 | ||||||||
Net debt to net capital, excluding securitization debt ((D-E-F)/(G-H-I)) | 52.6 | 53.6 | 53.0 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | |||||||||||
ENTERGY LOUISIANA FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
As-reported net income (A) | 654 | 1,082 | 692 | ||||||||
Adjustments | |||||||||||
Gain on sale | 11 | — | — | ||||||||
State corporate income tax rate change | 6 | — | — | ||||||||
2014/2015 IRS audit settlement | — | 383 | — | ||||||||
Total Adjustments (B) | 17 | 383 | — | ||||||||
Adjusted earnings (A-B) | 637 | 699 | 692 | ||||||||
Average common equity (C) | 7,819 | 6,927 | 6,150 | ||||||||
Gross debt (D) | 10,933 | 9,044 | 7,321 | ||||||||
Less securitization debt (E) | — | 10 | 33 | ||||||||
Gross debt, excluding securitization debt (D-E) | 10,933 | 9,034 | 7,288 | ||||||||
Less cash and cash equivalents (F) | 19 | 728 | 2 | ||||||||
Net debt, excluding securitization debt (D-E-F) | 10,914 | 8,306 | 7,286 | ||||||||
Total capitalization (G) | 19,114 | 16,501 | 13,718 | ||||||||
Less securitization debt (H) | — | 10 | 33 | ||||||||
Total capitalization, excluding securitization debt (G-H) | 19,114 | 16,491 | 13,685 | ||||||||
Less cash and cash equivalents (I) | 19 | 728 | 2 | ||||||||
Net capitalization, excluding securitization debt (G-H-I) | 19,095 | 15,763 | 13,683 | ||||||||
(%) | |||||||||||
Return on average member's equity – As-Reported (A/C) | 8.4 | 15.6 | 11.3 | ||||||||
Return on average member's equity – Adjusted ((A-B)/C) | 8.1 | 10.1 | 11.3 | ||||||||
Debt to capital (D/G) | 57.2 | 54.8 | 53.4 | ||||||||
Debt to capital ratio, excluding securitization debt ((D-E)/(G-H)) | 57.2 | 54.8 | 53.3 | ||||||||
Net debt to net capital, excluding securitization debt ((D-E-F)/(G-H-I)) | 57.2 | 52.7 | 53.2 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | |||||||||||
ENTERGY MISSISSIPPI FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
As-reported net income (A) | 167 | 141 | 120 | ||||||||
Adjustments | |||||||||||
2014/2015 IRS audit settlement | — | 4 | — | ||||||||
Total Adjustments (B) | — | 4 | — | ||||||||
Adjusted earnings (A-B) | 167 | 137 | 120 | ||||||||
Average member's equity (C) | 1,756 | 1,607 | 1,417 | ||||||||
Gross debt (D) | 2,189 | 1,788 | 1,621 | ||||||||
Less cash and cash equivalents (E) | 48 | — | 52 | ||||||||
Net debt (D-E) | 2,141 | 1,788 | 1,569 | ||||||||
Total capitalization (F) | 4,029 | 3,461 | 3,163 | ||||||||
Less cash and cash equivalents (G) | 48 | — | 52 | ||||||||
Net capitalization (F-G) | 3,981 | 3,461 | 3,111 | ||||||||
(%) | |||||||||||
Return on average member's equity – As-Reported (A/C) | 9.5 | 8.7 | 8.5 | ||||||||
Return on average member's equity – Adjusted ((A-B)/C) | 9.5 | 8.5 | 8.5 | ||||||||
Debt to capital (D/F) | 54.3 | 51.7 | 51.2 | ||||||||
Net debt to net capital ((D-E)/(F-G)) | 53.8 | 51.7 | 50.4 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | |||||||||||
ENTERGY NEW ORLEANS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
As-reported net income (A) | 32 | 49 | 53 | ||||||||
Adjustments | |||||||||||
State corporate income tax rate change | 2 | — | — | ||||||||
2014/2015 IRS audit settlement | — | (1) | — | ||||||||
Total Adjustments (B) | 2 | (1) | — | ||||||||
Adjusted earnings (A-B) | 30 | 50 | 53 | ||||||||
Average member's equity (C) | 623 | 552 | 471 | ||||||||
Gross debt (D) | 792 | 646 | 564 | ||||||||
Less securitization debt (E) | 30 | 41 | 53 | ||||||||
Gross debt, excluding securitization debt (D-E) | 763 | 604 | 511 | ||||||||
Less cash and cash equivalents (F) | 43 | — | 6 | ||||||||
Net debt, excluding securitization debt (D-E-F) | 720 | 604 | 505 | ||||||||
Total capitalization (G) | 1,431 | 1,253 | 1,062 | ||||||||
Less securitization debt (H) | 30 | 41 | 53 | ||||||||
Total capitalization, excluding securitization debt (G-H) | 1,401 | 1,211 | 1,009 | ||||||||
Less cash and cash equivalents (I) | 43 | — | 6 | ||||||||
Net capitalization, excluding securitization debt (G-H-I) | 1,358 | 1,211 | 1,003 | ||||||||
(%) | |||||||||||
Return on average member's equity – As-Reported (A/C) | 5.1 | 8.9 | 11.3 | ||||||||
Return on average member's equity – Adjusted ((A-B)/C) | 4.9 | 9.1 | 11.3 | ||||||||
Debt to capital (D/G) | 55.4 | 51.5 | 53.1 | ||||||||
Debt to capital, excluding securitization debt ((D-E)/(G-H)) | 54.4 | 49.9 | 50.7 | ||||||||
Net debt to net capital, excluding securitization debt ((D-E-F)/(G-H-I)) | 53.0 | 49.9 | 50.4 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | |||||||||||
ENTERGY TEXAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
As-reported earnings applicable to common stock (A) | 227 | 213 | 159 | ||||||||
Adjustments | |||||||||||
2014/2015 IRS audit settlement | — | 2 | — | ||||||||
Total Adjustments (B) | — | 2 | — | ||||||||
Adjusted earnings (A-B) | 227 | 211 | 159 | ||||||||
Average common equity (C) | 2,284 | 1,943 | 1,593 | ||||||||
Gross debt (D) | 2,362 | 2,499 | 1,928 | ||||||||
Less securitization debt (E) | 54 | 123 | 205 | ||||||||
Gross debt, excluding securitization debt (D-E) | 2,308 | 2,376 | 1,723 | ||||||||
Less cash and cash equivalents (F) | — | 249 | 13 | ||||||||
Net debt, excluding securitization debt (D-E-F) | 2,308 | 2,127 | 1,710 | ||||||||
Total capitalization (G) | 4,845 | 4,657 | 3,728 | ||||||||
Less securitization debt (H) | 54 | 123 | 205 | ||||||||
Total capitalization, excluding securitization debt (G-H) | 4,791 | 4,534 | 3,522 | ||||||||
Less cash and cash equivalents (I) | — | 249 | 13 | ||||||||
Net capitalization, excluding securitization debt (G-H-I) | 4,791 | 4,285 | 3,509 | ||||||||
(%) | |||||||||||
ROE – As-Reported (A/C) | 9.9 | 11.0 | 10.0 | ||||||||
ROE – Adjusted ((A-B)/C) | 9.9 | 10.9 | 10.0 | ||||||||
Debt to capital (D/G) | 48.7 | 53.7 | 51.7 | ||||||||
Debt to capital, excluding securitization debt ((D-E)/(G-H)) | 48.2 | 52.4 | 48.9 | ||||||||
Net debt to net capital, excluding securitization debt ((D-E-F)/(G-H-I)) | 48.2 | 49.7 | 48.7 | ||||||||
Calculations may differ due to rounding. | |||||||||||
REG G RECONCILIATIONS | |||||||||||
SYSTEM ENERGY RESOURCES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
As-reported net income (A) | 107 | 99 | 99 | ||||||||
Adjustments | |||||||||||
SERI regulatory liability for potential refund for rate base reduction | |||||||||||
retroactive to 2015 | — | (19) | — | ||||||||
2014/2015 IRS audit settlement | — | 3 | — | ||||||||
Total Adjustments (B) | — | (16) | — | ||||||||
Adjusted earnings (A-B) | 107 | 115 | 99 | ||||||||
Average common equity (C) | 1,086 | 896 | 725 | ||||||||
Gross debt (D) | 741 | 805 | 548 | ||||||||
Less cash and cash equivalents (E) | 89 | 242 | 69 | ||||||||
Net debt (D-E) | 652 | 563 | 479 | ||||||||
Total capitalization (F) | 1,833 | 1,886 | 1,260 | ||||||||
Less cash and cash equivalents (G) | 89 | 242 | 69 | ||||||||
Net capitalization (F-G) | 1,743 | 1,644 | 1,191 | ||||||||
(%) | |||||||||||
ROE – As-Reported (A/C) | 9.8 | 11.1 | 13.7 | ||||||||
ROE – Adjusted ((A-B)/C) | 9.8 | 12.8 | 13.7 | ||||||||
Debt to capital (D/F) | 40.4 | 42.7 | 43.5 | ||||||||
Net debt to net capital ((D-E)/(F-G)) | 37.4 | 34.2 | 40.2 | ||||||||
Calculations may differ due to rounding. |
REG G RECONCILIATIONS | |||||||||||
ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2019-2021 | |||||||||||
($ millions) | 2021 | 2020 | 2019 | ||||||||
As-reported net income (loss) attributable to Entergy Corporation | (123) | (65) | 147 | ||||||||
Net income (loss) | (121) | (63) | 149 | ||||||||
Add back: interest expense | 13 | 22 | 29 | ||||||||
Add back: income taxes | (25) | 105 | (161) | ||||||||
Add back: depreciation and amortization | 44 | 102 | 148 | ||||||||
Subtract: interest and investment income | 119 | 234 | 415 | ||||||||
Add back: decommissioning expense | 120 | 205 | 237 | ||||||||
Adjusted EBITDA | (87) | 137 | (13) | ||||||||
Calculations may differ due to rounding. |
ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q20-4Q21 | ||||||||||||||||||||||||||
($ millions) | 1Q21 | 2Q21 | 3Q21 | 4Q21 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | ||||||||||||||||||
As-reported net income (loss) attributable to Entergy Corporation | 38 | (275) | 26 | 89 | (111) | 85 | 30 | (69) | ||||||||||||||||||
Net income (loss) | 38 | (275) | 26 | 90 | (110) | 85 | 31 | (68) | ||||||||||||||||||
Add back: interest expense | 4 | 4 | 3 | 2 | 5 | 7 | 5 | 5 | ||||||||||||||||||
Add back: income taxes | 16 | (72) | 9 | 22 | (31) | 24 | 12 | 99 | ||||||||||||||||||
Add back: depreciation and amortization | 13 | 14 | 9 | 9 | 35 | 25 | 21 | 21 | ||||||||||||||||||
Subtract: interest and investment income | 48 | 50 | 3 | 18 | (172) | 207 | 95 | 104 | ||||||||||||||||||
Add back: decommissioning expense | 53 | 40 | 14 | 14 | 50 | 51 | 51 | 53 | ||||||||||||||||||
Adjusted EBITDA | 76 | (338) | 57 | 118 | 122 | (15) | 24 | 5 | ||||||||||||||||||
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: 504-576-3097 | As of Feb. 1, 2022, there were 203,529,179 shares of Entergy | |||||||||||||||||||
E–mail: wabler@entergy.com | common stock outstanding. Shareholders of record totaled | |||||||||||||||||||
21,686, and approximately 402,585 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 2021, 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, 2021. | |||||||||||||||||||
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 2022 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 28 | February 11 | March 1 | |||||||||||||||||
website at entergy.com. | April 11 | May 5 | June 1 | |||||||||||||||||
July 29 | August 11 | September 1 | ||||||||||||||||||
ADDITIONAL INFORMATION | October 28 | November 14 | 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 | 2021 | 2020 | 2019 | |||||||||||||||||
1 | 95 | 93 | 91 | |||||||||||||||||
2 | 95 | 93 | 91 | |||||||||||||||||
3 | 95 | 93 | 91 | |||||||||||||||||
4 | 101 | 95 | 93 | |||||||||||||||||