Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Entity Registrant Name | 'ENTERGY CORP /DE/ | ' |
Entity Central Index Key | '0000065984 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 178,319,275 |
Entergy Arkansas [Member] | ' | ' |
Entity Registrant Name | 'Entergy Arkansas, Inc. | ' |
Entity Central Index Key | '0000007323 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entergy Gulf States Louisiana [Member] | ' | ' |
Entity Registrant Name | 'ENTERGY GULF STATES LOUISIANA, L.L.C. | ' |
Entity Central Index Key | '0000044570 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entergy Louisiana [Member] | ' | ' |
Entity Registrant Name | 'ENTERGY LOUISIANA, LLC | ' |
Entity Central Index Key | '0001348952 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entergy Mississippi [Member] | ' | ' |
Entity Registrant Name | 'ENTERGY MISSISSIPPI, INC. | ' |
Entity Central Index Key | '0000066901 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entergy New Orleans | ' | ' |
Entity Registrant Name | 'ENTERGY NEW ORLEANS, INC. | ' |
Entity Central Index Key | '0000071508 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entergy Texas [Member] | ' | ' |
Entity Registrant Name | 'ENTERGY TEXAS, INC. | ' |
Entity Central Index Key | '0001427437 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
System Energy [Member] | ' | ' |
Entity Registrant Name | 'SYSTEM ENERGY RESOURCES, Inc. | ' |
Entity Central Index Key | '0000202584 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING REVENUES | ' | ' | ' | ' |
Electric | $2,704,800 | $2,320,360 | $6,831,290 | $6,039,752 |
Natural gas | 26,113 | 23,557 | 113,315 | 93,444 |
Competitive businesses | 621,046 | 619,643 | 1,754,436 | 1,732,624 |
TOTAL | 3,351,959 | 2,963,560 | 8,699,041 | 7,865,820 |
Operating and Maintenance: | ' | ' | ' | ' |
Fuel, fuel-related expenses, and gas purchased for resale | 818,254 | 596,270 | 1,818,194 | 1,572,265 |
Purchased power | 392,545 | 336,552 | 1,251,418 | 966,816 |
Nuclear refueling outage expenses | 64,758 | 62,582 | 191,940 | 184,288 |
Asset impairment | 291,505 | 0 | 291,505 | 355,524 |
Other operation and maintenance | 839,348 | 765,242 | 2,437,801 | 2,259,758 |
Decommissioning | 60,848 | 56,796 | 179,342 | 126,641 |
Taxes other than income taxes | 156,950 | 149,049 | 452,934 | 424,329 |
Depreciation and amortization | 325,149 | 281,740 | 923,541 | 836,711 |
Other regulatory charges (credits) - net | 13,708 | 24,477 | 22,914 | 162,509 |
TOTAL | 2,963,065 | 2,272,708 | 7,569,589 | 6,888,841 |
OPERATING INCOME | 388,894 | 690,852 | 1,129,452 | 976,979 |
OTHER INCOME | ' | ' | ' | ' |
Allowance for equity funds used during construction | 17,676 | 18,396 | 46,675 | 70,986 |
Interest and investment income | 23,430 | 24,490 | 102,277 | 94,767 |
Miscellaneous - net | -10,214 | -10,768 | -36,992 | -41,794 |
TOTAL | 30,892 | 32,118 | 111,960 | 123,959 |
INTEREST EXPENSE | ' | ' | ' | ' |
Interest expense | 157,504 | 155,800 | 466,422 | 452,162 |
Allowance for borrowed funds used during construction | -6,453 | -8,003 | -18,432 | -27,877 |
TOTAL | 151,051 | 147,797 | 447,990 | 424,285 |
INCOME BEFORE INCOME TAXES | 268,735 | 575,173 | 793,422 | 676,653 |
Income taxes | 24,553 | 232,503 | 214,202 | 110,140 |
CONSOLIDATED NET INCOME | 244,182 | 342,670 | 579,220 | 566,513 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 4,332 | 5,582 | 14,247 | 16,108 |
EARNINGS APPLICABLE TO COMMON STOCK | 239,850 | 337,088 | 564,973 | 550,405 |
Earnings per average common share: | ' | ' | ' | ' |
Basic | $1.35 | $1.90 | $3.17 | $3.11 |
Diluted | $1.34 | $1.89 | $3.16 | $3.10 |
Dividends declared per common share | $0.83 | $0.83 | $2.49 | $2.49 |
Basic average number of common shares outstanding | 178,283,721 | 177,517,846 | 178,170,339 | 177,184,464 |
Diluted average number of common shares outstanding | 178,652,210 | 177,975,075 | 178,520,063 | 177,636,549 |
Entergy Arkansas [Member] | ' | ' | ' | ' |
OPERATING REVENUES | ' | ' | ' | ' |
Electric | 647,671 | 656,201 | 1,698,716 | 1,633,401 |
Operating and Maintenance: | ' | ' | ' | ' |
Fuel, fuel-related expenses, and gas purchased for resale | 113,523 | 116,026 | 321,373 | 362,954 |
Purchased power | 131,736 | 145,305 | 369,643 | 318,474 |
Nuclear refueling outage expenses | 9,403 | 11,891 | 29,031 | 35,441 |
Other operation and maintenance | 147,513 | 140,730 | 438,021 | 406,561 |
Decommissioning | 10,847 | 10,198 | 32,044 | 30,128 |
Taxes other than income taxes | 24,303 | 26,676 | 69,073 | 69,073 |
Depreciation and amortization | 58,083 | 55,092 | 172,059 | 165,697 |
Other regulatory charges (credits) - net | -5,418 | -2,553 | -14,465 | -35,478 |
TOTAL | 489,990 | 503,365 | 1,416,779 | 1,352,850 |
OPERATING INCOME | 157,681 | 152,836 | 281,937 | 280,551 |
OTHER INCOME | ' | ' | ' | ' |
Allowance for equity funds used during construction | 2,902 | 2,258 | 7,852 | 6,491 |
Interest and investment income | 1,525 | 3,861 | 18,411 | 11,233 |
Miscellaneous - net | -629 | -496 | -2,573 | -3,139 |
TOTAL | 3,798 | 5,623 | 23,690 | 14,585 |
INTEREST EXPENSE | ' | ' | ' | ' |
Interest expense | 23,253 | 20,532 | 69,290 | 61,707 |
Allowance for borrowed funds used during construction | -744 | -648 | -2,473 | -1,724 |
TOTAL | 22,509 | 19,884 | 66,817 | 59,983 |
INCOME BEFORE INCOME TAXES | 138,970 | 138,575 | 238,810 | 235,153 |
Income taxes | 56,393 | 56,024 | 101,031 | 92,973 |
CONSOLIDATED NET INCOME | 82,577 | 82,551 | 137,779 | 142,180 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 1,718 | 1,718 | 5,155 | 5,155 |
EARNINGS APPLICABLE TO COMMON STOCK | 80,859 | 80,833 | 132,624 | 137,025 |
Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
OPERATING REVENUES | ' | ' | ' | ' |
Electric | 549,123 | 425,999 | 1,428,155 | 1,201,178 |
Natural gas | 9,208 | 8,452 | 42,492 | 34,251 |
TOTAL | 558,331 | 434,451 | 1,470,647 | 1,235,429 |
Operating and Maintenance: | ' | ' | ' | ' |
Fuel, fuel-related expenses, and gas purchased for resale | 104,932 | 34,821 | 213,270 | 131,248 |
Purchased power | 194,455 | 156,398 | 560,531 | 417,909 |
Nuclear refueling outage expenses | 5,419 | 4,415 | 14,955 | 13,147 |
Other operation and maintenance | 105,107 | 89,446 | 300,012 | 267,505 |
Decommissioning | 4,005 | 3,783 | 11,845 | 11,187 |
Taxes other than income taxes | 21,346 | 19,141 | 60,729 | 55,728 |
Depreciation and amortization | 37,703 | 36,958 | 113,002 | 109,345 |
Other regulatory charges (credits) - net | 80 | 3,928 | 5,080 | 32,536 |
TOTAL | 473,047 | 348,890 | 1,279,424 | 1,038,605 |
OPERATING INCOME | 85,284 | 85,561 | 191,223 | 196,824 |
OTHER INCOME | ' | ' | ' | ' |
Allowance for equity funds used during construction | 2,171 | 1,760 | 5,630 | 6,512 |
Interest and investment income | 9,428 | 13,442 | 34,239 | 33,350 |
Miscellaneous - net | -2,822 | -1,615 | -7,861 | -6,727 |
TOTAL | 8,777 | 13,587 | 32,008 | 33,135 |
INTEREST EXPENSE | ' | ' | ' | ' |
Interest expense | 20,498 | 20,406 | 60,971 | 62,297 |
Allowance for borrowed funds used during construction | -690 | -652 | -2,041 | -2,516 |
TOTAL | 19,808 | 19,754 | 58,930 | 59,781 |
INCOME BEFORE INCOME TAXES | 74,253 | 79,394 | 164,301 | 170,178 |
Income taxes | 11,611 | 29,184 | 44,773 | 41,220 |
CONSOLIDATED NET INCOME | 62,642 | 50,210 | 119,528 | 128,958 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 206 | 206 | 619 | 619 |
EARNINGS APPLICABLE TO COMMON STOCK | 62,436 | 50,004 | 118,909 | 128,339 |
Entergy Louisiana [Member] | ' | ' | ' | ' |
OPERATING REVENUES | ' | ' | ' | ' |
Electric | 782,789 | 614,044 | 2,024,679 | 1,658,189 |
Operating and Maintenance: | ' | ' | ' | ' |
Fuel, fuel-related expenses, and gas purchased for resale | 206,329 | 134,108 | 418,188 | 320,991 |
Purchased power | 213,832 | 168,817 | 679,254 | 505,935 |
Nuclear refueling outage expenses | 9,317 | 6,103 | 25,248 | 18,573 |
Other operation and maintenance | 123,344 | 106,523 | 355,696 | 334,559 |
Decommissioning | 5,437 | 5,169 | 16,106 | 18,172 |
Taxes other than income taxes | 19,337 | 17,913 | 57,124 | 52,122 |
Depreciation and amortization | 60,664 | 54,642 | 181,409 | 162,474 |
Other regulatory charges (credits) - net | -1,318 | -956 | -7,612 | 128,749 |
TOTAL | 636,942 | 492,319 | 1,725,413 | 1,541,575 |
OPERATING INCOME | 145,847 | 121,725 | 299,266 | 116,614 |
OTHER INCOME | ' | ' | ' | ' |
Allowance for equity funds used during construction | 8,854 | 9,981 | 21,693 | 27,032 |
Interest and investment income | 21,149 | 21,566 | 64,064 | 63,178 |
Miscellaneous - net | -618 | 519 | -2,271 | -1,680 |
TOTAL | 29,385 | 32,066 | 83,486 | 88,530 |
INTEREST EXPENSE | ' | ' | ' | ' |
Interest expense | 39,206 | 35,731 | 112,539 | 101,434 |
Allowance for borrowed funds used during construction | -3,714 | -4,776 | -9,198 | -12,530 |
TOTAL | 35,492 | 30,955 | 103,341 | 88,904 |
INCOME BEFORE INCOME TAXES | 139,740 | 122,836 | 279,411 | 116,240 |
Income taxes | 39,143 | 42,628 | 72,061 | -127,977 |
CONSOLIDATED NET INCOME | 100,597 | 80,208 | 207,350 | 244,217 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 1,738 | 1,738 | 5,213 | 5,213 |
EARNINGS APPLICABLE TO COMMON STOCK | 98,859 | 78,470 | 202,137 | 239,004 |
Entergy Mississippi [Member] | ' | ' | ' | ' |
OPERATING REVENUES | ' | ' | ' | ' |
Electric | 397,833 | 321,771 | 1,015,513 | 860,735 |
Operating and Maintenance: | ' | ' | ' | ' |
Fuel, fuel-related expenses, and gas purchased for resale | 118,688 | 57,230 | 263,437 | 204,703 |
Purchased power | 97,709 | 93,817 | 275,783 | 232,140 |
Other operation and maintenance | 62,263 | 64,446 | 189,822 | 173,043 |
Taxes other than income taxes | 21,208 | 19,742 | 61,322 | 56,980 |
Depreciation and amortization | 27,717 | 24,377 | 81,268 | 72,451 |
Other regulatory charges (credits) - net | 62 | 2,828 | -10,237 | -8,476 |
TOTAL | 327,647 | 262,440 | 861,395 | 730,841 |
OPERATING INCOME | 70,186 | 59,331 | 154,118 | 129,894 |
OTHER INCOME | ' | ' | ' | ' |
Allowance for equity funds used during construction | 371 | 760 | 1,817 | 2,950 |
Interest and investment income | 239 | 19 | 565 | 43 |
Miscellaneous - net | -767 | -806 | -2,601 | -2,916 |
TOTAL | -157 | -27 | -219 | 77 |
INTEREST EXPENSE | ' | ' | ' | ' |
Interest expense | 14,585 | 14,113 | 44,753 | 42,761 |
Allowance for borrowed funds used during construction | -307 | -405 | -1,233 | -1,568 |
TOTAL | 14,278 | 13,708 | 43,520 | 41,193 |
INCOME BEFORE INCOME TAXES | 55,751 | 45,596 | 110,379 | 88,778 |
Income taxes | 21,938 | 18,516 | 43,678 | 37,102 |
CONSOLIDATED NET INCOME | 33,813 | 27,080 | 66,701 | 51,676 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 707 | 707 | 2,121 | 2,121 |
EARNINGS APPLICABLE TO COMMON STOCK | 33,106 | 26,373 | 64,580 | 49,555 |
Entergy New Orleans | ' | ' | ' | ' |
OPERATING REVENUES | ' | ' | ' | ' |
Electric | 161,737 | 146,459 | 397,126 | 360,772 |
Natural gas | 16,904 | 15,106 | 70,822 | 59,193 |
TOTAL | 178,641 | 161,565 | 467,948 | 419,965 |
Operating and Maintenance: | ' | ' | ' | ' |
Fuel, fuel-related expenses, and gas purchased for resale | 42,207 | 29,298 | 83,656 | 68,585 |
Purchased power | 63,705 | 62,410 | 192,028 | 164,042 |
Other operation and maintenance | 33,820 | 28,671 | 102,187 | 92,475 |
Taxes other than income taxes | 13,373 | 11,941 | 37,141 | 33,110 |
Depreciation and amortization | 9,392 | 9,178 | 28,394 | 27,446 |
Other regulatory charges (credits) - net | 249 | 502 | 748 | 1,483 |
TOTAL | 162,746 | 142,000 | 444,154 | 387,141 |
OPERATING INCOME | 15,895 | 19,565 | 23,794 | 32,824 |
OTHER INCOME | ' | ' | ' | ' |
Allowance for equity funds used during construction | 223 | 185 | 656 | 487 |
Interest and investment income | 24 | 8 | 68 | 29 |
Miscellaneous - net | -277 | -385 | -921 | -1,147 |
TOTAL | -30 | -192 | -197 | -631 |
INTEREST EXPENSE | ' | ' | ' | ' |
Interest expense | 3,661 | 2,738 | 10,312 | 8,366 |
Allowance for borrowed funds used during construction | -130 | -88 | -351 | -230 |
TOTAL | 3,531 | 2,650 | 9,961 | 8,136 |
INCOME BEFORE INCOME TAXES | 12,334 | 16,723 | 13,636 | 24,057 |
Income taxes | 4,248 | 6,168 | 3,646 | 6,276 |
CONSOLIDATED NET INCOME | 8,086 | 10,555 | 9,990 | 17,781 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 241 | 241 | 724 | 724 |
EARNINGS APPLICABLE TO COMMON STOCK | 7,845 | 10,314 | 9,266 | 17,057 |
Entergy Texas [Member] | ' | ' | ' | ' |
OPERATING REVENUES | ' | ' | ' | ' |
Electric | 526,978 | 489,078 | 1,288,251 | 1,174,069 |
Operating and Maintenance: | ' | ' | ' | ' |
Fuel, fuel-related expenses, and gas purchased for resale | 101,094 | 103,542 | 135,038 | 178,473 |
Purchased power | 220,490 | 200,483 | 647,437 | 523,208 |
Other operation and maintenance | 60,913 | 58,343 | 184,580 | 170,791 |
Taxes other than income taxes | 16,805 | 19,031 | 46,506 | 50,640 |
Depreciation and amortization | 23,659 | 23,043 | 70,731 | 64,887 |
Other regulatory charges (credits) - net | 24,587 | 23,402 | 59,897 | 50,791 |
TOTAL | 447,548 | 427,844 | 1,144,189 | 1,038,790 |
OPERATING INCOME | 79,430 | 61,234 | 144,062 | 135,279 |
OTHER INCOME | ' | ' | ' | ' |
Allowance for equity funds used during construction | 890 | 1,281 | 3,559 | 3,355 |
Interest and investment income | 228 | -5,566 | 914 | -2,648 |
Miscellaneous - net | -625 | -1,520 | -1,968 | -3,164 |
TOTAL | 493 | -5,805 | 2,505 | -2,457 |
INTEREST EXPENSE | ' | ' | ' | ' |
Interest expense | 23,069 | 24,246 | 69,401 | 71,510 |
Allowance for borrowed funds used during construction | -647 | -1,033 | -2,533 | -2,417 |
TOTAL | 22,422 | 23,213 | 66,868 | 69,093 |
INCOME BEFORE INCOME TAXES | 57,501 | 32,216 | 79,699 | 63,729 |
Income taxes | 21,700 | 12,982 | 32,023 | 26,547 |
CONSOLIDATED NET INCOME | 35,801 | 19,234 | 47,676 | 37,182 |
System Energy [Member] | ' | ' | ' | ' |
OPERATING REVENUES | ' | ' | ' | ' |
Electric | 192,679 | 188,680 | 533,434 | 428,413 |
Operating and Maintenance: | ' | ' | ' | ' |
Fuel, fuel-related expenses, and gas purchased for resale | 26,974 | 25,538 | 77,077 | 38,976 |
Nuclear refueling outage expenses | 7,418 | 7,304 | 22,133 | 14,352 |
Other operation and maintenance | 43,577 | 38,029 | 123,955 | 105,754 |
Decommissioning | 8,946 | 8,327 | 26,364 | 24,541 |
Taxes other than income taxes | 6,291 | 5,230 | 19,264 | 16,262 |
Depreciation and amortization | 51,981 | 47,991 | 119,427 | 102,989 |
Other regulatory charges (credits) - net | -4,537 | -2,673 | -10,499 | -7,096 |
TOTAL | 140,650 | 129,746 | 377,721 | 295,778 |
OPERATING INCOME | 52,029 | 58,934 | 155,713 | 132,635 |
OTHER INCOME | ' | ' | ' | ' |
Allowance for equity funds used during construction | 2,267 | 2,171 | 5,470 | 24,158 |
Interest and investment income | 1,259 | 2,506 | 6,450 | 8,108 |
Miscellaneous - net | -134 | -146 | -493 | -446 |
TOTAL | 3,392 | 4,531 | 11,427 | 31,820 |
INTEREST EXPENSE | ' | ' | ' | ' |
Interest expense | 9,756 | 12,631 | 28,411 | 34,076 |
Allowance for borrowed funds used during construction | -223 | -401 | -604 | -6,892 |
TOTAL | 9,533 | 12,230 | 27,807 | 27,184 |
INCOME BEFORE INCOME TAXES | 45,888 | 51,235 | 139,333 | 137,271 |
Income taxes | 10,783 | 20,619 | 48,488 | 44,751 |
CONSOLIDATED NET INCOME | $35,105 | $30,616 | $90,845 | $92,520 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING ACTIVITIES | ' | ' |
Consolidated net income | $579,220 | $566,513 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ' | ' |
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 1,472,985 | 1,293,667 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 174,052 | 111,228 |
Asset impairment | 291,505 | 355,524 |
Changes in working capital: | ' | ' |
Receivables | -273,876 | -162,015 |
Fuel inventory | 16,421 | -9,063 |
Accounts payable | -80,626 | 143,596 |
Prepaid taxes and taxes accrued | -6,150 | 44,625 |
Interest accrued | -25,586 | -24,752 |
Deferred fuel | -43,419 | -40,192 |
Other working capital accounts | -81,315 | -131,374 |
Changes in provisions for estimated losses | -247,560 | -17,479 |
Changes in other regulatory assets | 173,164 | 49,250 |
Other regulatory liabilities | 290,965 | 237,627 |
Changes in pension and other postretirement liabilities | -48,814 | -75,104 |
Other | 8,493 | -122,263 |
Net cash flow provided by operating activities | 2,199,459 | 2,219,788 |
INVESTING ACTIVITIES | ' | ' |
Construction/capital expenditures | -1,781,208 | -1,868,690 |
Allowance for equity funds used during construction | 49,411 | 73,497 |
Payments for Nuclear Fuel | -398,456 | -412,912 |
Payment for purchase of plant | 0 | -645 |
Proceeds from sale of assets and businesses | 0 | 0 |
Changes in securitization account | -3,702 | -2,036 |
NYPA value sharing payment | -71,736 | -72,000 |
Payment to storm reserve escrow account | -5,882 | -7,009 |
Receipts from storm reserve escrow account | 260,279 | 17,884 |
Decrease (increase) in other investments | -43,656 | -69,995 |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 21,034 | 109,105 |
Proceeds from nuclear decommissioning trust fund sales | 1,063,711 | 1,416,697 |
Investment in nuclear decommissioning trust funds | -1,147,571 | -1,507,123 |
Net cash flow used in investing activities | -2,057,776 | -2,323,227 |
Proceeds from the issuance of: | ' | ' |
Proceeds from the issuance of long-term debt | 2,925,997 | 2,289,494 |
Preferred stock | 0 | 51,000 |
Common stock and treasury stock | 20,720 | 56,602 |
Retirement of long-term debt | -3,106,226 | -2,029,016 |
Repurchase of common stock | 0 | 0 |
Changes in credit borrowings - net | 310,042 | 247,845 |
Dividends paid: | ' | ' |
Common stock | -445,031 | -441,292 |
Preferred stock | -14,469 | -15,497 |
Net cash flow used in financing activities | -308,967 | 159,136 |
Effect of exchange rates on cash and cash equivalents | 47 | -416 |
Net increase (decrease) in cash and cash equivalents | -167,237 | 55,281 |
Cash and cash equivalents at beginning of period | 532,569 | 694,438 |
Cash and cash equivalents at end of period | 365,332 | 749,719 |
Cash paid / (received) during the period for: | ' | ' |
Interest - net of amount capitalized | 435,161 | 422,142 |
Income taxes | 107,560 | 42,472 |
Entergy Arkansas [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Consolidated net income | 137,779 | 142,180 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ' | ' |
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 263,176 | 266,755 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 99,442 | 97,641 |
Changes in working capital: | ' | ' |
Receivables | -70,219 | -86,046 |
Fuel inventory | 16,740 | 3,130 |
Accounts payable | -12,996 | -144,562 |
Prepaid taxes and taxes accrued | -222,118 | -9,302 |
Interest accrued | -9,760 | -11,061 |
Deferred fuel | 26,672 | 88,097 |
Other working capital accounts | -12,324 | 32,465 |
Changes in provisions for estimated losses | 200 | 171 |
Changes in other regulatory assets | 2,515 | 51,089 |
Changes in pension and other postretirement liabilities | -25,332 | -40,976 |
Other | 7,982 | -51,661 |
Net cash flow provided by operating activities | 201,757 | 337,920 |
INVESTING ACTIVITIES | ' | ' |
Construction/capital expenditures | -365,511 | -273,010 |
Allowance for equity funds used during construction | 10,587 | 9,002 |
Payments for Nuclear Fuel | -73,151 | -134,928 |
Proceeds from sale of nuclear fuel | 36,478 | 76,042 |
Remittances to transition charge account | 7,356 | -11,987 |
Payments from transition charge account | -10,849 | 7,476 |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 10,271 | 0 |
Proceeds from nuclear decommissioning trust fund sales | 173,431 | 103,394 |
Investment in nuclear decommissioning trust funds | -178,516 | -110,520 |
Change in money pool receivable - net | -45,340 | 9,875 |
Net cash flow used in investing activities | -435,244 | -324,656 |
Proceeds from the issuance of: | ' | ' |
Proceeds from the issuance of long-term debt | 716,670 | 0 |
Retirement of long-term debt | -435,896 | -5,990 |
Change in money pool payable - net | 0 | 0 |
Changes in credit borrowings - net | -16,602 | 18,776 |
Dividends paid: | ' | ' |
Common stock | -15,000 | 0 |
Preferred stock | -5,155 | -5,155 |
Other | 0 | -872 |
Net cash flow used in financing activities | 244,017 | 6,759 |
Net increase (decrease) in cash and cash equivalents | 10,530 | 20,023 |
Cash and cash equivalents at beginning of period | 34,533 | 22,599 |
Cash and cash equivalents at end of period | 45,063 | 42,622 |
Cash paid / (received) during the period for: | ' | ' |
Interest - net of amount capitalized | 75,022 | 68,990 |
Income taxes | 211,415 | -6,897 |
Entergy Gulf States Louisiana [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Consolidated net income | 119,528 | 128,958 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ' | ' |
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 165,684 | 158,577 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 78,265 | 51,415 |
Changes in working capital: | ' | ' |
Receivables | -59,583 | 63,699 |
Fuel inventory | -1,868 | -7,747 |
Accounts payable | 13,921 | 42,149 |
Prepaid taxes and taxes accrued | -61,290 | 67,987 |
Interest accrued | 5,302 | 5,696 |
Deferred fuel | -8,867 | -91,354 |
Other working capital accounts | -24,029 | -11,434 |
Changes in provisions for estimated losses | -60,205 | -3,100 |
Changes in other regulatory assets | 31,754 | -5,648 |
Changes in pension and other postretirement liabilities | 4,877 | -3,459 |
Other | 66,809 | -4,028 |
Net cash flow provided by operating activities | 270,298 | 391,711 |
INVESTING ACTIVITIES | ' | ' |
Construction/capital expenditures | -205,162 | -198,785 |
Allowance for equity funds used during construction | 5,630 | 6,512 |
Payments for Nuclear Fuel | -132,083 | -41,592 |
Proceeds from sale of nuclear fuel | 19,401 | 56,579 |
Payment to storm reserve escrow account | -25 | -66 |
Receipts from storm reserve escrow account | 65,475 | 3,364 |
Decrease (increase) in other investments | 0 | 0 |
Proceeds from nuclear decommissioning trust fund sales | 66,152 | 96,653 |
Investment in nuclear decommissioning trust funds | -80,669 | -111,084 |
Change in money pool receivable - net | 0 | -8,565 |
Proceeds from sale of investment | 0 | 51,000 |
Other | 0 | 0 |
Net cash flow used in investing activities | -261,281 | -145,984 |
Proceeds from the issuance of: | ' | ' |
Proceeds from the issuance of long-term debt | 69,782 | 74,251 |
Retirement of long-term debt | -75,000 | -70,840 |
Change in money pool payable - net | 50,761 | 0 |
Changes in credit borrowings - net | 31,000 | -29,400 |
Dividends paid: | ' | ' |
Common stock | -119,900 | -67,400 |
Preferred stock | -619 | -619 |
Other | 43 | 0 |
Net cash flow used in financing activities | -43,933 | -94,008 |
Net increase (decrease) in cash and cash equivalents | -34,916 | 151,719 |
Cash and cash equivalents at beginning of period | 35,686 | 24,845 |
Cash and cash equivalents at end of period | 770 | 176,564 |
Cash paid / (received) during the period for: | ' | ' |
Interest - net of amount capitalized | 53,512 | 54,291 |
Income taxes | 62,435 | 0 |
Entergy Louisiana [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Consolidated net income | 207,350 | 244,217 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ' | ' |
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 250,232 | 299,745 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 168,988 | -94,765 |
Changes in working capital: | ' | ' |
Receivables | -131,198 | -37,610 |
Fuel inventory | 992 | -3 |
Accounts payable | -39,947 | 65,772 |
Prepaid taxes and taxes accrued | -37,490 | 6,383 |
Interest accrued | 1,527 | -1,557 |
Deferred fuel | 22,450 | -30,132 |
Other working capital accounts | 21,742 | -29,490 |
Changes in provisions for estimated losses | -187,642 | -17,392 |
Changes in other regulatory assets | -19,483 | -42,781 |
Other regulatory liabilities | 146,329 | 139,624 |
Changes in pension and other postretirement liabilities | 1,851 | -17,361 |
Other | 44,742 | -82,978 |
Net cash flow provided by operating activities | 450,443 | 401,672 |
INVESTING ACTIVITIES | ' | ' |
Construction/capital expenditures | -583,451 | -429,820 |
Allowance for equity funds used during construction | 21,693 | 27,032 |
Payments for Nuclear Fuel | -41,209 | -134,413 |
Payment for purchase of plant | 0 | 0 |
Proceeds from sale of nuclear fuel | 23,438 | 48,990 |
Remittances to transition charge account | -14,844 | -22,113 |
Payments from transition charge account | 8,759 | 15,472 |
Receipts from storm reserve escrow account | 187,007 | 13,669 |
Proceeds from nuclear decommissioning trust fund sales | 12,211 | 19,833 |
Investment in nuclear decommissioning trust funds | -21,006 | -28,422 |
Change in money pool receivable - net | -42,434 | -30,710 |
Other | -22 | 666 |
Net cash flow used in investing activities | -449,858 | -519,816 |
Proceeds from the issuance of: | ' | ' |
Proceeds from the issuance of long-term debt | 418,009 | 465,997 |
Retirement of long-term debt | -20,960 | -37,649 |
Change in money pool payable - net | 0 | -118,415 |
Changes in credit borrowings - net | -30,361 | -37,949 |
Dividends paid: | ' | ' |
Common stock | -351,254 | -600 |
Preferred stock | -5,213 | -5,213 |
Other | 0 | 0 |
Net cash flow used in financing activities | 10,221 | 266,171 |
Net increase (decrease) in cash and cash equivalents | 10,806 | 148,027 |
Cash and cash equivalents at beginning of period | 30,086 | 878 |
Cash and cash equivalents at end of period | 40,892 | 148,905 |
Cash paid / (received) during the period for: | ' | ' |
Interest - net of amount capitalized | 106,975 | 98,979 |
Income taxes | -3,874 | -3,601 |
Entergy Mississippi [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Consolidated net income | 66,701 | 51,676 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ' | ' |
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 81,268 | 72,451 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 36,845 | 39,703 |
Changes in working capital: | ' | ' |
Receivables | -50,692 | 23,552 |
Fuel inventory | 5,249 | -3,377 |
Accounts payable | 17,940 | 12,637 |
Prepaid taxes and taxes accrued | -11,345 | -15,150 |
Interest accrued | 1,960 | -3,683 |
Deferred fuel | -10,179 | -12,249 |
Other working capital accounts | 2,069 | -10,977 |
Changes in provisions for estimated losses | -232 | -2,496 |
Changes in other regulatory assets | 8,153 | 10,526 |
Changes in pension and other postretirement liabilities | -5,444 | -10,438 |
Other | 5,554 | 3,845 |
Net cash flow provided by operating activities | 147,847 | 156,020 |
INVESTING ACTIVITIES | ' | ' |
Construction/capital expenditures | -128,006 | -121,634 |
Allowance for equity funds used during construction | 1,817 | 2,950 |
Proceeds from sale of assets and businesses | 0 | 0 |
Change in money pool receivable - net | 16,878 | -5,497 |
Investment in affiliates | 0 | 0 |
Other | 42 | 16 |
Net cash flow used in investing activities | -109,269 | -124,165 |
Proceeds from the issuance of: | ' | ' |
Proceeds from the issuance of long-term debt | 0 | 0 |
Retirement of long-term debt | -100,000 | 0 |
Change in money pool payable - net | 19,150 | -1,999 |
Changes in credit borrowings - net | 0 | 0 |
Dividends paid: | ' | ' |
Common stock | -7,400 | 0 |
Preferred stock | -2,121 | -2,121 |
Other | -86 | -94 |
Net cash flow used in financing activities | -90,457 | -4,214 |
Net increase (decrease) in cash and cash equivalents | -51,879 | 27,641 |
Cash and cash equivalents at beginning of period | 52,970 | 16 |
Cash and cash equivalents at end of period | 1,091 | 27,657 |
Cash paid / (received) during the period for: | ' | ' |
Interest - net of amount capitalized | 40,718 | 44,481 |
Income taxes | 1,999 | 2,118 |
Entergy New Orleans | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Consolidated net income | 9,990 | 17,781 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ' | ' |
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 28,394 | 27,446 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | -13,649 | 12,269 |
Changes in working capital: | ' | ' |
Receivables | -944 | -17,721 |
Fuel inventory | -1,769 | 1,977 |
Accounts payable | 1,628 | 11,175 |
Prepaid taxes and taxes accrued | 4,502 | -10,826 |
Interest accrued | -266 | -740 |
Deferred fuel | 19,108 | -6,095 |
Other working capital accounts | -9,813 | -6,628 |
Changes in provisions for estimated losses | -1,871 | 6,015 |
Changes in other regulatory assets | 13,915 | -10,748 |
Changes in pension and other postretirement liabilities | -2,581 | -6,597 |
Other | 13,304 | 5,852 |
Net cash flow provided by operating activities | 59,948 | 23,160 |
INVESTING ACTIVITIES | ' | ' |
Construction/capital expenditures | -68,643 | -47,325 |
Allowance for equity funds used during construction | 656 | 487 |
Payment to storm reserve escrow account | -5,828 | -6,774 |
Receipts from storm reserve escrow account | 7,749 | 0 |
Decrease (increase) in other investments | 0 | 0 |
Change in money pool receivable - net | -15,480 | 9,074 |
Investment in affiliates | 0 | 0 |
Net cash flow used in investing activities | -81,546 | -44,538 |
Proceeds from the issuance of: | ' | ' |
Proceeds from the issuance of long-term debt | 98,495 | 0 |
Retirement of long-term debt | -70,061 | 0 |
Change in money pool payable - net | 0 | 15,719 |
Dividends paid: | ' | ' |
Common stock | 0 | -1,700 |
Preferred stock | -724 | -724 |
Other | 0 | -579 |
Net cash flow used in financing activities | 27,710 | 12,716 |
Net increase (decrease) in cash and cash equivalents | 6,112 | -8,662 |
Cash and cash equivalents at beginning of period | 9,391 | 9,834 |
Cash and cash equivalents at end of period | 15,503 | 1,172 |
Cash paid / (received) during the period for: | ' | ' |
Interest - net of amount capitalized | 9,775 | 8,431 |
Income taxes | 425 | 0 |
Entergy Texas [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Consolidated net income | 47,676 | 37,182 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ' | ' |
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 70,731 | 64,887 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 78,717 | 28,140 |
Changes in working capital: | ' | ' |
Receivables | -63,375 | -15,544 |
Fuel inventory | -968 | -2,650 |
Accounts payable | 13,450 | 11,930 |
Prepaid taxes and taxes accrued | 39,644 | -8,545 |
Interest accrued | -9,190 | -9,032 |
Deferred fuel | -92,604 | 11,543 |
Other working capital accounts | 4,689 | -10,244 |
Changes in provisions for estimated losses | 2,358 | 3,172 |
Changes in other regulatory assets | 78,433 | 72,559 |
Changes in pension and other postretirement liabilities | -8,983 | -11,158 |
Other | 6,700 | -255 |
Net cash flow provided by operating activities | 167,278 | 171,985 |
INVESTING ACTIVITIES | ' | ' |
Construction/capital expenditures | -133,489 | -128,199 |
Allowance for equity funds used during construction | 3,559 | 3,355 |
Remittances to transition charge account | -68,646 | -65,325 |
Payments from transition charge account | 74,523 | 74,441 |
Change in money pool receivable - net | -5,930 | 50,210 |
Other | -42 | 0 |
Net cash flow used in investing activities | -130,025 | -65,518 |
Proceeds from the issuance of: | ' | ' |
Proceeds from the issuance of long-term debt | 0 | 0 |
Retirement of long-term debt | -50,579 | -49,192 |
Change in money pool payable - net | 0 | 0 |
Dividends paid: | ' | ' |
Common stock | -25,000 | -57,420 |
Other | -167 | -728 |
Net cash flow used in financing activities | -75,746 | -107,340 |
Net increase (decrease) in cash and cash equivalents | -38,493 | -873 |
Cash and cash equivalents at beginning of period | 60,236 | 65,289 |
Cash and cash equivalents at end of period | 21,743 | 64,416 |
Cash paid / (received) during the period for: | ' | ' |
Interest - net of amount capitalized | 75,500 | 77,264 |
Income taxes | -94,233 | 6,000 |
System Energy [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Consolidated net income | 90,845 | 92,520 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ' | ' |
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 206,699 | 157,070 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 57,096 | 106,167 |
Changes in working capital: | ' | ' |
Receivables | 4,180 | -8,224 |
Accounts payable | -2,039 | -9,070 |
Prepaid taxes and taxes accrued | -219,221 | -63,879 |
Interest accrued | -127 | -1,636 |
Other working capital accounts | 17,025 | -30,126 |
Changes in other regulatory assets | 13,724 | -38,909 |
Changes in pension and other postretirement liabilities | -4,891 | -9,375 |
Other | -26,477 | 22,502 |
Net cash flow provided by operating activities | 136,814 | 217,040 |
INVESTING ACTIVITIES | ' | ' |
Construction/capital expenditures | -37,731 | -415,013 |
Allowance for equity funds used during construction | 5,470 | 24,158 |
Payments for Nuclear Fuel | -53,666 | -182,619 |
Proceeds from sale of nuclear fuel | 26,522 | 38,413 |
Decrease (increase) in other investments | 0 | -72,170 |
Proceeds from nuclear decommissioning trust fund sales | 144,631 | 315,006 |
Investment in nuclear decommissioning trust funds | -168,023 | -337,352 |
Change in money pool receivable - net | 22,907 | 116,321 |
Net cash flow used in investing activities | -59,890 | -513,256 |
Proceeds from the issuance of: | ' | ' |
Proceeds from the issuance of long-term debt | 0 | 297,908 |
Retirement of long-term debt | -111,479 | -192,867 |
Change in money pool payable - net | 0 | 0 |
Changes in credit borrowings - net | 6,531 | 62,772 |
Dividends paid: | ' | ' |
Common stock | -50,000 | -32,750 |
Other | -1,786 | -3,766 |
Net cash flow used in financing activities | -156,734 | 131,297 |
Net increase (decrease) in cash and cash equivalents | -79,810 | -164,919 |
Cash and cash equivalents at beginning of period | 83,622 | 185,157 |
Cash and cash equivalents at end of period | 3,812 | 20,238 |
Cash paid / (received) during the period for: | ' | ' |
Interest - net of amount capitalized | 20,708 | 27,667 |
Income taxes | $217,089 | ($3,873) |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash | $102,949 | $112,992 |
Temporary cash investments | 262,383 | 419,577 |
Total cash and cash equivalents | 365,332 | 532,569 |
Securitization recovery trust account | 49,741 | 46,040 |
Accounts receivable: | ' | ' |
Customer | 753,033 | 568,871 |
Allowance for doubtful accounts | -33,482 | -31,956 |
Other | 170,620 | 161,408 |
Accrued unbilled revenues | 377,588 | 303,392 |
Total accounts receivable | 1,267,759 | 1,001,715 |
Deferred fuel costs | 119,338 | 150,363 |
Accumulated deferred income taxes | 84,059 | 306,902 |
Fuel inventory - at average cost | 197,409 | 213,831 |
Materials and supplies - at average cost | 906,119 | 928,530 |
Deferred nuclear refueling outage costs | 245,992 | 243,374 |
System agreement cost equalization | 6,256 | 16,880 |
Prepayments and other | 247,585 | 242,922 |
TOTAL | 3,489,590 | 3,683,126 |
OTHER PROPERTY AND INVESTMENTS | ' | ' |
Investment in affiliates - at equity | 44,418 | 46,738 |
Decommissioning trust funds | 4,627,774 | 4,190,108 |
Non-utility property - at cost (less accumulated depreciation) | 260,076 | 256,039 |
Other | 185,959 | 436,234 |
TOTAL | 5,118,227 | 4,929,119 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' |
Electric | 42,662,320 | 41,944,567 |
Property under capital lease | 933,058 | 935,199 |
Natural gas | 361,441 | 353,492 |
Construction work in progress | 1,599,127 | 1,365,699 |
Nuclear fuel | 1,560,176 | 1,598,430 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 47,116,122 | 46,197,387 |
Less - accumulated depreciation and amortization | 19,548,683 | 18,898,842 |
PROPERTY, PLANT AND EQUIPMENT - NET | 27,567,439 | 27,298,545 |
Regulatory assets: | ' | ' |
Regulatory asset for income taxes - net | 860,169 | 742,030 |
Other regulatory assets | 4,750,482 | 5,025,912 |
Deferred fuel costs | 172,202 | 172,202 |
Goodwill | 377,172 | 377,172 |
Accumulated deferred income taxes | 66,349 | 37,748 |
Other | 922,496 | 936,648 |
TOTAL | 7,148,870 | 7,291,712 |
TOTAL ASSETS | 43,324,126 | 43,202,502 |
CURRENT LIABILITIES | ' | ' |
Currently maturing long-term debt | 206,260 | 718,516 |
Notes payable | 1,106,039 | 796,002 |
Accounts payable | 900,131 | 1,217,180 |
Customer deposits | 366,151 | 359,078 |
Taxes accrued | 327,569 | 333,719 |
Accumulated deferred income taxes | 35,095 | 13,109 |
Interest accrued | 159,078 | 184,664 |
Deferred fuel costs | 21,995 | 96,439 |
Obligations under capital leases | 2,717 | 3,880 |
Pension and other postretirement liabilities | 53,822 | 95,900 |
System agreement cost equalization | 6,256 | 25,848 |
Other | 253,915 | 261,986 |
TOTAL | 3,439,028 | 4,106,321 |
NON-CURRENT LIABILITIES | ' | ' |
Accumulated deferred income taxes and taxes accrued | 8,330,667 | 8,311,756 |
Accumulated deferred investment tax credits | 266,547 | 273,696 |
Obligations under capital leases | 32,814 | 34,541 |
Other regulatory liabilities | 1,189,579 | 898,614 |
Decommissioning trust fund | 3,702,881 | 3,513,634 |
Accumulated provisions | 115,507 | 362,226 |
Pension and other postretirement liabilities | 3,719,150 | 3,725,886 |
Long-term debt | 12,275,492 | 11,920,318 |
Other | 563,499 | 577,910 |
TOTAL | 30,196,136 | 29,618,581 |
Subsidiaries' preferred stock without sinking fund | 186,511 | 186,511 |
Common Shareholders' Equity: | ' | ' |
Common stock | 2,548 | 2,548 |
Paid-in capital | 5,362,424 | 5,357,852 |
Retained earnings | 9,825,653 | 9,704,591 |
Accumulated other comprehensive loss | -243,530 | -293,083 |
Less - treasury stock, at cost | 5,538,644 | 5,574,819 |
Total common shareholders' equity | 9,408,451 | 9,197,089 |
Subsidiaries' preferred stock without sinking fund | 94,000 | 94,000 |
TOTAL | 9,502,451 | 9,291,089 |
TOTAL LIABILITIES AND EQUITY | 43,324,126 | 43,202,502 |
Entergy Arkansas [Member] | ' | ' |
Cash and cash equivalents: | ' | ' |
Cash | 3,342 | 9,597 |
Temporary cash investments | 41,721 | 24,936 |
Total cash and cash equivalents | 45,063 | 34,533 |
Securitization recovery trust account | 7,896 | 4,403 |
Accounts receivable: | ' | ' |
Customer | 130,206 | 98,036 |
Allowance for doubtful accounts | -28,736 | -28,343 |
Associated companies | 127,571 | 67,277 |
Other | 71,310 | 71,956 |
Accrued unbilled revenues | 97,036 | 72,902 |
Total accounts receivable | 397,387 | 281,828 |
Deferred fuel costs | 70,633 | 97,305 |
Accumulated deferred income taxes | 234 | 72,196 |
Fuel inventory - at average cost | 32,235 | 48,975 |
Materials and supplies - at average cost | 151,418 | 148,682 |
Deferred nuclear refueling outage costs | 41,332 | 38,410 |
System agreement cost equalization | 0 | 0 |
Prepaid taxes | 7,149 | 0 |
Prepayments and other | 61,281 | 10,586 |
TOTAL | 814,628 | 736,918 |
OTHER PROPERTY AND INVESTMENTS | ' | ' |
Decommissioning trust funds | 669,770 | 600,578 |
Non-utility property - at cost (less accumulated depreciation) | 1,666 | 1,671 |
Other | 41,182 | 41,182 |
TOTAL | 712,618 | 643,431 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' |
Electric | 8,883,551 | 8,693,659 |
Property under capital lease | 1,088 | 1,154 |
Construction work in progress | 166,903 | 205,982 |
Nuclear fuel | 284,280 | 303,825 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 9,335,822 | 9,204,620 |
Less - accumulated depreciation and amortization | 4,174,124 | 4,104,882 |
PROPERTY, PLANT AND EQUIPMENT - NET | 5,161,698 | 5,099,738 |
Regulatory assets: | ' | ' |
Regulatory asset for income taxes - net | 75,286 | 80,751 |
Other regulatory assets | 1,224,586 | 1,221,636 |
Other | 41,779 | 36,971 |
TOTAL | 1,341,651 | 1,339,358 |
TOTAL ASSETS | 8,030,595 | 7,819,445 |
CURRENT LIABILITIES | ' | ' |
Currently maturing long-term debt | 70,000 | 330,000 |
Short-term borrowings | 20,133 | 36,735 |
Associated companies accounts payable | 49,802 | 39,288 |
Other | 140,144 | 200,964 |
Customer deposits | 85,760 | 85,198 |
Taxes accrued | 0 | 214,969 |
Accumulated deferred income taxes | 9,794 | 5,927 |
Interest accrued | 18,658 | 28,418 |
Other | 63,720 | 45,208 |
TOTAL | 458,011 | 986,707 |
NON-CURRENT LIABILITIES | ' | ' |
Accumulated deferred income taxes and taxes accrued | 1,859,020 | 1,829,281 |
Accumulated deferred investment tax credits | 39,456 | 40,947 |
Other regulatory liabilities | 191,842 | 143,901 |
Decommissioning trust fund | 712,756 | 680,712 |
Accumulated provisions | 6,022 | 5,822 |
Pension and other postretirement liabilities | 589,362 | 614,805 |
Long-term debt | 2,342,168 | 1,793,895 |
Other | 18,368 | 27,409 |
TOTAL | 5,758,994 | 5,136,772 |
Subsidiaries' preferred stock without sinking fund | 116,350 | 116,350 |
Common Shareholders' Equity: | ' | ' |
Common stock | 470 | 470 |
Paid-in capital | 588,444 | 588,444 |
Retained earnings | 1,108,326 | 990,702 |
TOTAL | 1,697,240 | 1,579,616 |
TOTAL LIABILITIES AND EQUITY | 8,030,595 | 7,819,445 |
Entergy Gulf States Louisiana [Member] | ' | ' |
Cash and cash equivalents: | ' | ' |
Cash | 152 | 35,085 |
Temporary cash investments | 618 | 601 |
Total cash and cash equivalents | 770 | 35,686 |
Accounts receivable: | ' | ' |
Customer | 84,146 | 53,480 |
Allowance for doubtful accounts | -793 | -711 |
Associated companies | 91,548 | 71,697 |
Other | 17,856 | 18,736 |
Accrued unbilled revenues | 61,614 | 51,586 |
Total accounts receivable | 254,371 | 194,788 |
Deferred fuel costs | 7,919 | 0 |
Fuel inventory - at average cost | 28,835 | 26,967 |
Materials and supplies - at average cost | 122,664 | 121,289 |
Deferred nuclear refueling outage costs | 31,598 | 5,953 |
Gas hedge contracts | 0 | 0 |
Prepaid taxes | 40,269 | 0 |
Prepayments and other | 7,692 | 7,911 |
TOTAL | 494,118 | 392,594 |
OTHER PROPERTY AND INVESTMENTS | ' | ' |
Investment in affiliates - at equity | 289,664 | 289,664 |
Decommissioning trust funds | 537,624 | 477,391 |
Non-utility property - at cost (less accumulated depreciation) | 172,098 | 165,410 |
Escrow accounts | 21,534 | 86,984 |
Other | 14,046 | 13,404 |
TOTAL | 1,034,966 | 1,032,853 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' |
Electric | 7,388,971 | 7,279,953 |
Natural gas | 141,912 | 135,723 |
Construction work in progress | 127,322 | 125,448 |
Nuclear fuel | 208,839 | 146,768 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 7,867,044 | 7,687,892 |
Less - accumulated depreciation and amortization | 4,076,376 | 4,003,385 |
PROPERTY, PLANT AND EQUIPMENT - NET | 3,790,668 | 3,684,507 |
Regulatory assets: | ' | ' |
Regulatory asset for income taxes - net | 171,006 | 171,051 |
Other regulatory assets | 377,944 | 409,653 |
Deferred fuel costs | 100,124 | 100,124 |
Other | 13,611 | 12,337 |
TOTAL | 662,685 | 693,165 |
TOTAL ASSETS | 5,982,437 | 5,803,119 |
CURRENT LIABILITIES | ' | ' |
Currently maturing long-term debt | 0 | 75,000 |
Associated companies accounts payable | 162,647 | 89,377 |
Other | 80,160 | 97,509 |
Customer deposits | 51,348 | 48,265 |
Taxes accrued | 0 | 21,021 |
Accumulated deferred income taxes | 48,902 | 22,249 |
Interest accrued | 30,739 | 25,437 |
Deferred fuel costs | 0 | 948 |
Pension and other postretirement liabilities | 8,120 | 7,803 |
Gas hedge contracts | 1,261 | 2,620 |
Other | 13,047 | 11,999 |
TOTAL | 396,224 | 402,228 |
NON-CURRENT LIABILITIES | ' | ' |
Accumulated deferred income taxes and taxes accrued | 1,463,685 | 1,403,195 |
Accumulated deferred investment tax credits | 76,049 | 78,312 |
Other regulatory liabilities | 143,209 | 103,444 |
Decommissioning trust fund | 397,399 | 380,822 |
Accumulated provisions | 37,025 | 97,230 |
Pension and other postretirement liabilities | 420,780 | 416,220 |
Long-term debt | 1,543,608 | 1,442,429 |
Long-term payables of associated companies | 28,168 | 29,510 |
Other | 91,381 | 66,725 |
TOTAL | 4,201,304 | 4,017,887 |
Common Shareholders' Equity: | ' | ' |
Accumulated other comprehensive loss | -62,349 | -65,229 |
Total common shareholders' equity | 1,437,258 | 1,438,233 |
Subsidiaries' preferred stock without sinking fund | 10,000 | 10,000 |
TOTAL | 1,384,909 | 1,383,004 |
TOTAL LIABILITIES AND EQUITY | 5,982,437 | 5,803,119 |
Entergy Louisiana [Member] | ' | ' |
Cash and cash equivalents: | ' | ' |
Cash | 350 | 814 |
Temporary cash investments | 40,542 | 29,272 |
Total cash and cash equivalents | 40,892 | 30,086 |
Securitization recovery trust account | 10,467 | 4,382 |
Accounts receivable: | ' | ' |
Customer | 182,711 | 86,072 |
Allowance for doubtful accounts | -1,413 | -867 |
Associated companies | 98,222 | 42,938 |
Other | 9,022 | 9,354 |
Accrued unbilled revenues | 101,941 | 79,354 |
Total accounts receivable | 390,483 | 216,851 |
Deferred fuel costs | 4,118 | 26,568 |
Accumulated deferred income taxes | 103,399 | 113,319 |
Fuel inventory - at average cost | 22,591 | 23,583 |
Materials and supplies - at average cost | 154,104 | 152,170 |
Deferred nuclear refueling outage costs | 22,349 | 44,457 |
Gas hedge contracts | 0 | 0 |
Prepaid taxes | 45,427 | 7,937 |
Prepayments and other | 11,926 | 12,129 |
TOTAL | 805,756 | 631,482 |
OTHER PROPERTY AND INVESTMENTS | ' | ' |
Investment in affiliates - at equity | 807,423 | 807,423 |
Decommissioning trust funds | 325,443 | 287,418 |
Non-utility property - at cost (less accumulated depreciation) | 442 | 578 |
Escrow accounts | 0 | 186,985 |
TOTAL | 1,133,308 | 1,282,404 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' |
Electric | 8,699,613 | 8,603,319 |
Property under capital lease | 324,440 | 324,440 |
Construction work in progress | 647,527 | 404,714 |
Nuclear fuel | 170,203 | 204,019 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 9,841,783 | 9,536,492 |
Less - accumulated depreciation and amortization | 3,720,317 | 3,590,146 |
PROPERTY, PLANT AND EQUIPMENT - NET | 6,121,466 | 5,946,346 |
Regulatory assets: | ' | ' |
Regulatory asset for income taxes - net | 310,672 | 193,114 |
Other regulatory assets | 815,487 | 913,562 |
Deferred fuel costs | 67,998 | 67,998 |
Other | 45,677 | 39,178 |
TOTAL | 1,239,834 | 1,213,852 |
TOTAL ASSETS | 9,300,364 | 9,074,084 |
CURRENT LIABILITIES | ' | ' |
Currently maturing long-term debt | 70,231 | 14,236 |
Short-term borrowings | 24,296 | 54,657 |
Associated companies accounts payable | 90,733 | 103,454 |
Other | 127,342 | 266,904 |
Customer deposits | 89,375 | 88,805 |
Taxes accrued | ' | 0 |
Accumulated deferred income taxes | 3,865 | 0 |
Interest accrued | 38,791 | 37,264 |
Deferred fuel costs | 0 | 0 |
Pension and other postretirement liabilities | 9,421 | 9,170 |
System agreement cost equalization | 0 | 0 |
Gas hedge contracts | 1,408 | 3,442 |
Other | 16,211 | 13,382 |
TOTAL | 471,673 | 591,314 |
NON-CURRENT LIABILITIES | ' | ' |
Accumulated deferred income taxes and taxes accrued | 1,112,480 | 930,606 |
Accumulated deferred investment tax credits | 68,059 | 70,193 |
Other regulatory liabilities | 523,130 | 376,801 |
Decommissioning trust fund | 434,228 | 418,122 |
Accumulated provisions | 8,832 | 196,474 |
Pension and other postretirement liabilities | 541,303 | 539,703 |
Long-term debt | 3,159,085 | 2,811,859 |
Other | 78,751 | 68,516 |
TOTAL | 5,925,868 | 5,412,274 |
Common Shareholders' Equity: | ' | ' |
Accumulated other comprehensive loss | -44,087 | -46,132 |
Total common shareholders' equity | 2,846,910 | 3,016,628 |
Subsidiaries' preferred stock without sinking fund | 100,000 | 100,000 |
TOTAL | 2,902,823 | 3,070,496 |
TOTAL LIABILITIES AND EQUITY | 9,300,364 | 9,074,084 |
Entergy Mississippi [Member] | ' | ' |
Cash and cash equivalents: | ' | ' |
Cash | 1,082 | 585 |
Temporary cash investments | 9 | 52,385 |
Total cash and cash equivalents | 1,091 | 52,970 |
Accounts receivable: | ' | ' |
Customer | 89,316 | 49,836 |
Allowance for doubtful accounts | -1,071 | -910 |
Associated companies | 17,201 | 25,504 |
Other | 7,330 | 11,072 |
Accrued unbilled revenues | 49,585 | 43,045 |
Total accounts receivable | 162,361 | 128,547 |
Deferred fuel costs | 36,669 | 26,490 |
Accumulated deferred income taxes | 2,084 | 44,027 |
Fuel inventory - at average cost | 43,529 | 48,778 |
Materials and supplies - at average cost | 40,101 | 40,331 |
Gas hedge contracts | 0 | 0 |
Prepayments and other | 4,712 | 5,329 |
TOTAL | 290,547 | 346,472 |
OTHER PROPERTY AND INVESTMENTS | ' | ' |
Non-utility property - at cost (less accumulated depreciation) | 4,677 | 4,698 |
Escrow accounts | 61,794 | 61,836 |
TOTAL | 66,471 | 66,534 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' |
Electric | 3,800,355 | 3,708,743 |
Property under capital lease | 6,038 | 8,112 |
Construction work in progress | 75,900 | 62,876 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 3,882,293 | 3,779,731 |
Less - accumulated depreciation and amortization | 1,390,608 | 1,324,627 |
PROPERTY, PLANT AND EQUIPMENT - NET | 2,491,685 | 2,455,104 |
Regulatory assets: | ' | ' |
Regulatory asset for income taxes - net | 61,238 | 63,614 |
Other regulatory assets | 395,694 | 401,471 |
Other | 19,579 | 20,832 |
TOTAL | 476,511 | 485,917 |
TOTAL ASSETS | 3,325,214 | 3,354,027 |
CURRENT LIABILITIES | ' | ' |
Currently maturing long-term debt | 0 | 100,000 |
Short-term borrowings | 17 | 21 |
Associated companies accounts payable | 67,981 | 42,377 |
Other | 51,063 | 44,856 |
Customer deposits | 73,266 | 71,182 |
Taxes accrued | 40,982 | 52,327 |
Accumulated deferred income taxes | 3,333 | 218 |
Interest accrued | 20,186 | 18,226 |
Other | 29,401 | 21,490 |
TOTAL | 286,229 | 350,697 |
NON-CURRENT LIABILITIES | ' | ' |
Accumulated deferred income taxes and taxes accrued | 754,316 | 761,812 |
Accumulated deferred investment tax credits | 8,220 | 7,257 |
Obligations under capital leases | 4,479 | 5,329 |
Other regulatory liabilities | 1,647 | 1,235 |
Decommissioning trust fund | 6,309 | 6,039 |
Accumulated provisions | 35,588 | 35,820 |
Pension and other postretirement liabilities | 155,422 | 160,866 |
Long-term debt | 1,069,627 | 1,069,519 |
Other | 16,170 | 25,426 |
TOTAL | 2,051,778 | 2,073,303 |
Subsidiaries' preferred stock without sinking fund | 50,381 | 50,381 |
Common Shareholders' Equity: | ' | ' |
Common stock | 199,326 | 199,326 |
Paid-in capital | -690 | -690 |
Retained earnings | 738,190 | 681,010 |
TOTAL | 936,826 | 879,646 |
TOTAL LIABILITIES AND EQUITY | 3,325,214 | 3,354,027 |
Entergy New Orleans | ' | ' |
Cash and cash equivalents: | ' | ' |
Cash | 1,117 | 319 |
Temporary cash investments | 14,386 | 9,072 |
Total cash and cash equivalents | 15,503 | 9,391 |
Accounts receivable: | ' | ' |
Customer | 47,901 | 33,142 |
Allowance for doubtful accounts | -573 | -446 |
Associated companies | 31,592 | 29,326 |
Other | 2,357 | 3,115 |
Accrued unbilled revenues | 18,408 | 18,124 |
Total accounts receivable | 99,685 | 83,261 |
Accumulated deferred income taxes | 6,257 | 9,517 |
Fuel inventory - at average cost | 3,546 | 1,777 |
Materials and supplies - at average cost | 11,242 | 10,889 |
Prepaid taxes | 0 | 1,377 |
Prepayments and other | 6,404 | 3,201 |
TOTAL | 142,637 | 119,413 |
OTHER PROPERTY AND INVESTMENTS | ' | ' |
Non-utility property - at cost (less accumulated depreciation) | 1,016 | 1,016 |
Escrow accounts | 8,684 | 10,605 |
TOTAL | 9,700 | 11,621 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' |
Electric | 878,648 | 860,358 |
Natural gas | 219,529 | 217,769 |
Construction work in progress | 26,572 | 11,135 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 1,124,749 | 1,089,262 |
Less - accumulated depreciation and amortization | 560,085 | 549,587 |
PROPERTY, PLANT AND EQUIPMENT - NET | 564,664 | 539,675 |
Regulatory assets: | ' | ' |
Other regulatory assets | 188,088 | 202,003 |
Deferred fuel costs | 4,080 | 4,080 |
Other | 6,690 | 4,997 |
TOTAL | 198,858 | 211,080 |
TOTAL ASSETS | 915,859 | 881,789 |
CURRENT LIABILITIES | ' | ' |
Currently maturing long-term debt | 0 | 70,000 |
Short-term borrowings | 0 | 0 |
Associated companies accounts payable | 32,646 | 28,778 |
Other | 26,742 | 31,209 |
Customer deposits | 22,422 | 21,974 |
Taxes accrued | 3,125 | 0 |
Interest accrued | 2,754 | 3,020 |
Deferred fuel costs | 21,265 | 2,157 |
System agreement cost equalization | 6,256 | 16,880 |
Other | 7,398 | 3,479 |
TOTAL | 122,608 | 177,497 |
NON-CURRENT LIABILITIES | ' | ' |
Accumulated deferred income taxes and taxes accrued | 172,340 | 172,790 |
Accumulated deferred investment tax credits | 1,136 | 1,300 |
Regulatory liability for income taxes - net | 8,417 | 24,291 |
Other regulatory liabilities | 23,867 | 11,060 |
Decommissioning trust fund | 2,307 | 2,193 |
Accumulated provisions | 13,160 | 15,031 |
Pension and other postretirement liabilities | 81,209 | 83,790 |
Long-term debt | 225,942 | 126,300 |
Gas system rebuild insurance proceeds | 34,820 | 44,207 |
Other | 5,442 | 7,985 |
TOTAL | 568,640 | 488,947 |
Subsidiaries' preferred stock without sinking fund | 19,780 | 19,780 |
Common Shareholders' Equity: | ' | ' |
Common stock | 33,744 | 33,744 |
Paid-in capital | 36,294 | 36,294 |
Retained earnings | 134,793 | 125,527 |
TOTAL | 204,831 | 195,565 |
TOTAL LIABILITIES AND EQUITY | 915,859 | 881,789 |
Entergy Texas [Member] | ' | ' |
Cash and cash equivalents: | ' | ' |
Cash | 2,090 | 528 |
Temporary cash investments | 19,653 | 59,708 |
Total cash and cash equivalents | 21,743 | 60,236 |
Securitization recovery trust account | 31,378 | 37,255 |
Accounts receivable: | ' | ' |
Customer | 85,202 | 53,836 |
Allowance for doubtful accounts | -894 | -680 |
Associated companies | 91,681 | 68,750 |
Other | 15,247 | 10,450 |
Accrued unbilled revenues | 48,677 | 38,252 |
Total accounts receivable | 239,913 | 170,608 |
Deferred fuel costs | 0 | 0 |
Accumulated deferred income taxes | 0 | 34,988 |
Fuel inventory - at average cost | 56,356 | 55,388 |
Materials and supplies - at average cost | 30,020 | 32,853 |
System agreement cost equalization | 6,256 | 16,880 |
Prepaid taxes | 14,024 | 53,668 |
Prepayments and other | 18,542 | 18,206 |
TOTAL | 418,232 | 480,082 |
OTHER PROPERTY AND INVESTMENTS | ' | ' |
Investment in affiliates - at equity | 693 | 678 |
Non-utility property - at cost (less accumulated depreciation) | 419 | 638 |
Other | 18,025 | 17,263 |
TOTAL | 19,137 | 18,579 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' |
Electric | 3,554,829 | 3,475,776 |
Construction work in progress | 106,817 | 90,469 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 3,661,646 | 3,566,245 |
Less - accumulated depreciation and amortization | 1,369,362 | 1,332,349 |
PROPERTY, PLANT AND EQUIPMENT - NET | 2,292,284 | 2,233,896 |
Regulatory assets: | ' | ' |
Regulatory asset for income taxes - net | 129,645 | 131,287 |
Other regulatory assets | 1,037,745 | 1,114,536 |
Long-term receivables - associated companies | 28,168 | 29,510 |
Other | 18,181 | 17,891 |
TOTAL | 1,213,739 | 1,293,224 |
TOTAL ASSETS | 3,943,392 | 4,025,781 |
CURRENT LIABILITIES | ' | ' |
Associated companies accounts payable | 103,312 | 88,743 |
Other | 60,216 | 65,261 |
Customer deposits | 38,437 | 38,859 |
Taxes accrued | 0 | 0 |
Accumulated deferred income taxes | 31,816 | 0 |
Interest accrued | 22,976 | 32,166 |
Deferred fuel costs | 730 | 93,334 |
Pension and other postretirement liabilities | 805 | 853 |
System agreement cost equalization | 0 | 8,968 |
Other | 3,797 | 2,839 |
TOTAL | 262,089 | 331,023 |
NON-CURRENT LIABILITIES | ' | ' |
Accumulated deferred income taxes and taxes accrued | 1,021,401 | 1,009,081 |
Accumulated deferred investment tax credits | 16,546 | 17,743 |
Other regulatory liabilities | 6,738 | 6,150 |
Decommissioning trust fund | 4,286 | 4,103 |
Accumulated provisions | 8,967 | 6,609 |
Pension and other postretirement liabilities | 146,306 | 155,241 |
Long-term debt | 1,567,566 | 1,617,813 |
Other | 32,671 | 23,872 |
TOTAL | 2,804,481 | 2,840,612 |
Common Shareholders' Equity: | ' | ' |
Common stock | 49,452 | 49,452 |
Paid-in capital | 481,994 | 481,994 |
Retained earnings | 345,376 | 322,700 |
TOTAL | 876,822 | 854,146 |
TOTAL LIABILITIES AND EQUITY | 3,943,392 | 4,025,781 |
System Energy [Member] | ' | ' |
Cash and cash equivalents: | ' | ' |
Cash | 680 | 100 |
Temporary cash investments | 3,132 | 83,522 |
Total cash and cash equivalents | 3,812 | 83,622 |
Accounts receivable: | ' | ' |
Associated companies | 67,605 | 93,381 |
Other | 4,593 | 5,904 |
Total accounts receivable | 72,198 | 99,285 |
Accumulated deferred income taxes | 21,792 | 74,331 |
Materials and supplies - at average cost | 84,890 | 82,443 |
Deferred nuclear refueling outage costs | 13,664 | 35,155 |
Prepaid taxes | 37,744 | 0 |
Prepayments and other | 4,102 | 2,080 |
TOTAL | 238,202 | 376,916 |
OTHER PROPERTY AND INVESTMENTS | ' | ' |
Decommissioning trust funds | 563,428 | 490,572 |
TOTAL | 563,428 | 490,572 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' |
Electric | 4,003,015 | 3,987,672 |
Property under capital lease | 569,355 | 569,355 |
Construction work in progress | 42,870 | 40,392 |
Nuclear fuel | 214,053 | 252,682 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 4,829,293 | 4,850,101 |
Less - accumulated depreciation and amortization | 2,665,585 | 2,568,862 |
PROPERTY, PLANT AND EQUIPMENT - NET | 2,163,708 | 2,281,239 |
Regulatory assets: | ' | ' |
Regulatory asset for income taxes - net | 120,739 | 126,503 |
Other regulatory assets | 322,114 | 330,074 |
Other | 16,290 | 18,212 |
TOTAL | 459,143 | 474,789 |
TOTAL ASSETS | 3,424,481 | 3,623,516 |
CURRENT LIABILITIES | ' | ' |
Currently maturing long-term debt | 48,653 | 111,854 |
Short-term borrowings | 46,517 | 39,986 |
Associated companies accounts payable | 7,638 | 5,564 |
Other | 24,936 | 44,433 |
Taxes accrued | 0 | 181,477 |
Accumulated deferred income taxes | 688 | 1,789 |
Interest accrued | 15,492 | 15,619 |
Other | 2,432 | 2,429 |
TOTAL | 146,356 | 403,151 |
NON-CURRENT LIABILITIES | ' | ' |
Accumulated deferred income taxes and taxes accrued | 783,720 | 782,469 |
Accumulated deferred investment tax credits | 55,427 | 56,188 |
Other regulatory liabilities | 299,145 | 256,024 |
Decommissioning trust fund | 504,735 | 478,371 |
Pension and other postretirement liabilities | 137,726 | 142,617 |
Long-term debt | 623,753 | 671,945 |
Other | 45 | 22 |
TOTAL | 2,404,551 | 2,387,636 |
Common Shareholders' Equity: | ' | ' |
Common stock | 789,350 | 789,350 |
Retained earnings | 84,224 | 43,379 |
TOTAL | 873,574 | 832,729 |
TOTAL LIABILITIES AND EQUITY | $3,424,481 | $3,623,516 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Securitization property | $844,601 | $914,751 |
Securitization bonds | 910,026 | 973,480 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 254,752,788 | 254,752,788 |
Treasury stock, shares | 76,446,813 | 76,945,239 |
Entergy Arkansas [Member] | ' | ' |
Securitization property | 83,856 | 93,238 |
Securitization bonds | 95,364 | 101,547 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 325,000,000 | 325,000,000 |
Common stock, shares issued | 46,980,196 | 46,980,196 |
Common stock, shares outstanding | 46,980,196 | 46,980,196 |
Entergy Louisiana [Member] | ' | ' |
Securitization property | 160,690 | 172,838 |
Securitization bonds | 174,844 | 181,553 |
Entergy Mississippi [Member] | ' | ' |
Common stock, shares authorized | 12,000,000 | 12,000,000 |
Common stock, shares issued | 8,666,357 | 8,666,357 |
Common stock, shares outstanding | 8,666,357 | 8,666,357 |
Entergy New Orleans | ' | ' |
Common stock, par value | $4 | $4 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 8,435,900 | 8,435,900 |
Common stock, shares outstanding | 8,435,900 | 8,435,900 |
Entergy Texas [Member] | ' | ' |
Securitization property | 600,055 | 648,863 |
Securitization bonds | $639,818 | $690,380 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 46,525,000 | 46,525,000 |
Common stock, shares outstanding | 46,525,000 | 46,525,000 |
System Energy [Member] | ' | ' |
Common stock, shares authorized | 1,000,000 | 1,000,000 |
Common stock, shares issued | 789,350 | 789,350 |
Common stock, shares outstanding | 789,350 | 789,350 |
Consolidated_Statements_Of_Cha
Consolidated Statements Of Changes In Equity (USD $) | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] | Entergy New Orleans | Entergy New Orleans | Entergy New Orleans | Entergy New Orleans | Entergy Texas [Member] | Entergy Texas [Member] | Entergy Texas [Member] | Entergy Texas [Member] | System Energy [Member] | System Energy [Member] | System Energy [Member] | Subsidiaries' Preferred Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Total |
In Thousands | Common Stock [Member] | Paid In Capital [Member] | Retained Earnings [Member] | Preferred Membership Interest | Member's Equity [Member] | Accumulated Other Comprehensive Income [Member] | Preferred Membership Interest | Member's Equity [Member] | Accumulated Other Comprehensive Income [Member] | Common Stock [Member] | Capital Stock Expense and Other [Member] | Retained Earnings [Member] | Common Stock [Member] | Paid In Capital [Member] | Retained Earnings [Member] | Common Stock [Member] | Paid In Capital [Member] | Retained Earnings [Member] | Common Stock [Member] | Retained Earnings [Member] | ||||||||||||||
Beginning Balance at Dec. 31, 2011 | $470 | $588,444 | $855,210 | $1,444,124 | $10,000 | $1,393,386 | ($69,610) | $1,333,776 | $100,000 | $2,504,436 | ($39,507) | $2,564,929 | $199,326 | ($690) | $637,070 | $835,706 | $33,744 | $36,294 | $111,127 | $181,165 | $49,452 | $481,994 | $367,909 | $899,355 | $789,350 | $11,213 | $800,563 | $94,000 | $2,548 | ($5,680,468) | $5,360,682 | $9,446,960 | ($168,452) | $9,055,270 |
Consolidated net income | ' | ' | 142,180 | 142,180 | 0 | 128,958 | 0 | 128,958 | 0 | 244,217 | 0 | 244,217 | 0 | 0 | 51,676 | 51,676 | ' | ' | 17,781 | 17,781 | 0 | 0 | 37,182 | 37,182 | ' | 92,520 | 92,520 | 16,108 | 0 | 0 | 0 | 550,405 | 0 | 566,513 |
Member contribution | ' | ' | ' | ' | 0 | 1,000 | 0 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution to parent | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -600 | 0 | -600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss) | ' | ' | ' | ' | 0 | 0 | 12,397 | 12,397 | 0 | 0 | 1,890 | 1,890 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 31,659 | 31,659 |
Common stock repurchased, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Common stock issuances related to stock plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 95,857 | -7,163 | 0 | 0 | 88,694 |
Common stock dividends declared | ' | ' | ' | ' | 0 | -67,400 | 0 | -67,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,700 | -1,700 | 0 | 0 | -57,420 | -57,420 | ' | -32,750 | -32,750 | 0 | 0 | 0 | 0 | -441,506 | 0 | -441,506 |
Preferred dividend requirements of subsidiaries | ' | ' | -5,155 | -5,155 | 0 | -619 | 0 | -619 | 0 | -5,213 | 0 | -5,213 | 0 | 0 | -2,121 | -2,121 | ' | ' | -724 | -724 | ' | ' | ' | ' | ' | ' | ' | -16,108 | 0 | 0 | 0 | 0 | 0 | -16,108 |
Other | ' | ' | ' | ' | 0 | -114 | 0 | -114 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Sep. 30, 2012 | 470 | 588,444 | 992,235 | 1,581,149 | 10,000 | 1,455,211 | -57,213 | 1,407,998 | 100,000 | 2,742,840 | -37,617 | 2,805,223 | 199,326 | -690 | 686,625 | 885,261 | 33,744 | 36,294 | 126,484 | 196,522 | 49,452 | 481,994 | 347,671 | 879,117 | 789,350 | 70,983 | 860,333 | 94,000 | 2,548 | -5,584,611 | 5,353,519 | 9,555,859 | -136,793 | 9,284,522 |
Beginning Balance at Jun. 30, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income | ' | ' | ' | 82,551 | ' | ' | ' | 50,210 | ' | ' | ' | 80,208 | ' | ' | ' | 27,080 | ' | ' | ' | 10,555 | ' | ' | ' | 19,234 | ' | ' | 30,616 | ' | ' | ' | ' | ' | ' | 342,670 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | 862 | ' | ' | ' | 630 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -61,196 |
Preferred dividend requirements of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,582 |
Ending Balance at Sep. 30, 2012 | 470 | 588,444 | ' | 1,581,149 | ' | ' | ' | 1,407,998 | ' | ' | ' | 2,805,223 | ' | ' | ' | 885,261 | 33,744 | 36,294 | ' | 196,522 | ' | ' | ' | 879,117 | 789,350 | ' | 860,333 | ' | ' | ' | ' | ' | ' | 9,284,522 |
Beginning Balance at Dec. 31, 2012 | 470 | 588,444 | 990,702 | 1,579,616 | 10,000 | 1,438,233 | -65,229 | 1,383,004 | 100,000 | 3,016,628 | -46,132 | 3,070,496 | 199,326 | -690 | 681,010 | 879,646 | 33,744 | 36,294 | 125,527 | 195,565 | 49,452 | 481,994 | 322,700 | 854,146 | 789,350 | 43,379 | 832,729 | 94,000 | 2,548 | -5,574,819 | 5,357,852 | 9,704,591 | -293,083 | 9,291,089 |
Consolidated net income | 0 | 0 | 137,779 | 137,779 | 0 | 119,528 | 0 | 119,528 | 0 | 207,350 | 0 | 207,350 | 0 | 0 | 66,701 | 66,701 | 0 | 0 | 9,990 | 9,990 | 0 | 0 | 47,676 | 47,676 | 0 | 90,845 | 90,845 | 14,247 | 0 | 0 | 0 | 564,973 | 0 | 579,220 |
Member contribution | ' | ' | ' | ' | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution to parent | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -371,855 | 0 | -371,855 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss) | ' | ' | ' | ' | 0 | 0 | 2,880 | 2,880 | 0 | 0 | 2,045 | 2,045 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 49,553 | 49,553 |
Common stock issuances related to stock plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 36,175 | 4,572 | 0 | 0 | 40,747 |
Common stock dividends declared | 0 | 0 | -15,000 | -15,000 | 0 | -119,900 | 0 | -119,900 | ' | ' | ' | ' | 0 | 0 | -7,400 | -7,400 | 0 | 0 | 0 | 0 | 0 | 0 | -25,000 | -25,000 | 0 | -50,000 | -50,000 | 0 | 0 | 0 | 0 | -443,911 | 0 | -443,911 |
Preferred dividend requirements of subsidiaries | 0 | 0 | -5,155 | -5,155 | 0 | -619 | 0 | -619 | 0 | -5,213 | 0 | -5,213 | 0 | 0 | -2,121 | -2,121 | 0 | 0 | -724 | -724 | ' | ' | ' | ' | ' | ' | ' | -14,247 | 0 | 0 | 0 | 0 | 0 | -14,247 |
Other | ' | ' | ' | ' | 0 | 16 | 0 | 16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Sep. 30, 2013 | 470 | 588,444 | 1,108,326 | 1,697,240 | 10,000 | 1,437,258 | -62,349 | 1,384,909 | 100,000 | 2,846,910 | -44,087 | 2,902,823 | 199,326 | -690 | 738,190 | 936,826 | 33,744 | 36,294 | 134,793 | 204,831 | 49,452 | 481,994 | 345,376 | 876,822 | 789,350 | 84,224 | 873,574 | 94,000 | 2,548 | -5,538,644 | 5,362,424 | 9,825,653 | -243,530 | 9,502,451 |
Beginning Balance at Jun. 30, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income | ' | ' | ' | 82,577 | ' | ' | ' | 62,642 | ' | ' | ' | 100,597 | ' | ' | ' | 33,813 | ' | ' | ' | 8,086 | ' | ' | ' | 35,801 | ' | ' | 35,105 | ' | ' | ' | ' | ' | ' | 244,182 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | 963 | ' | ' | ' | 684 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,773 |
Preferred dividend requirements of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,332 |
Ending Balance at Sep. 30, 2013 | ' | ' | ' | $1,697,240 | ' | ' | ' | $1,384,909 | ' | ' | ' | $2,902,823 | ' | ' | ' | $936,826 | ' | ' | ' | $204,831 | ' | ' | ' | $876,822 | ' | ' | $873,574 | ' | ' | ' | ' | ' | ' | $9,502,451 |
Consolidated_Statements_Of_Cha1
Consolidated Statements Of Changes In Equity (Parenthetical) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Consolidated Statements Of Changes In Common Equity [Abstract] | ' | ' |
Preferred dividends on subsidiaries' preferred stock | $9.30 | $11.10 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $244,182 | $342,670 | $579,220 | $566,513 |
Other comprehensive income (loss) | ' | ' | ' | ' |
Cash flow hedges net unrealized gain (loss) | -31,663 | -106,138 | -80,048 | -68,793 |
Pension and other postretirement liabilities | 15,430 | 6,197 | 35,004 | 29,524 |
Net unrealized investment gains | 46,300 | 38,430 | 94,644 | 70,512 |
Foreign currency translation | 706 | 315 | -47 | 416 |
Other comprehensive income (loss) | 30,773 | -61,196 | 49,553 | 31,659 |
Total comprehensive income | 274,955 | 281,474 | 628,773 | 598,172 |
Preferred dividend requirements of subsidiaries | 4,332 | 5,582 | 14,247 | 16,108 |
Comprehensive Income Attributable to Entergy Corporation | 270,623 | 275,892 | 614,526 | 582,064 |
Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Net income | 62,642 | 50,210 | 119,528 | 128,958 |
Other comprehensive income (loss) | ' | ' | ' | ' |
Pension and other postretirement liabilities | 963 | 862 | 2,880 | 12,397 |
Other comprehensive income (loss) | 963 | 862 | 2,880 | 12,397 |
Total comprehensive income | 63,605 | 51,072 | 122,408 | 141,355 |
Preferred dividend requirements of subsidiaries | ' | ' | 619 | 619 |
Entergy Louisiana [Member] | ' | ' | ' | ' |
Net income | 100,597 | 80,208 | 207,350 | 244,217 |
Other comprehensive income (loss) | ' | ' | ' | ' |
Pension and other postretirement liabilities | 684 | 630 | 2,045 | 1,890 |
Other comprehensive income (loss) | 684 | 630 | 2,045 | 1,890 |
Total comprehensive income | 101,281 | 80,838 | 209,395 | 246,107 |
Preferred dividend requirements of subsidiaries | ' | ' | $5,213 | $5,213 |
Consolidated_Statements_Of_Com1
Consolidated Statements Of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flow hedges net unrealized gain (loss), tax expense (benefit) | ($17,199) | ($57,231) | ($43,803) | ($40,012) |
Pension and other postretirement liabilities, tax expense | 10,301 | 3,643 | 22,055 | 17,998 |
Net unrealized investment gains, tax expense | 20,819 | 29,657 | 65,805 | 67,046 |
Foreign currency translation, tax expense | 380 | 170 | -25 | 224 |
Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Pension and other postretirement liabilities, tax expense | 778 | 703 | 2,342 | 8,247 |
Entergy Louisiana [Member] | ' | ' | ' | ' |
Pension and other postretirement liabilities, tax expense | $542 | $493 | $1,631 | $1,480 |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments And Contingencies | ' |
ENTERGY CORPORATION AND SUBSIDIARIES | |
NOTES TO FINANCIAL STATEMENTS | |
(Unaudited) | |
NOTE 1. COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein, discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein, and discusses proceedings involving Vermont Yankee in Note 1 to the financial statements in the Form 10-K and in Note 11 to the financial statements herein. | |
ANO Damage and Outage | |
               On March 31, 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The turbine building serves both ANO 1 and 2 and is a non-radiological area of the plant. ANO 2 reconnected to the grid on April 28, 2013 and ANO 1 reconnected to the grid on August 7, 2013. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment is currently estimated to be approximately $100 million. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. Each of the Utility operating companies has recovery mechanisms in place designed to recover its prudently-incurred fuel and purchased power costs. | |
           Entergy Arkansas is assessing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy is a member of Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members' nuclear generating plants, including ANO. NEIL has notified Entergy that it believes that a $50 million course of construction sublimit applies to any loss associated with the lifting apparatus failure and stator drop at ANO. Entergy has responded that it disagrees with NEIL's position and is evaluating its options for enforcing its rights under the policy. On July 12, 2013, Entergy Arkansas filed a complaint in the Circuit Court in Pope County, Arkansas against the owner of the heavy-lifting apparatus that collapsed, an engineering firm, a general contractor, and certain individuals asserting claims of breach of contract, negligence, and gross negligence in connection with their responsibility for the stator drop. | |
In the second quarter 2013, Entergy Arkansas recorded an insurance receivable of $50 million based on the minimum amount that it expects to receive from NEIL. This $50 million receivable offset approximately $35 million of capital spending, $13 million of operation and maintenance expense, and $2 million of incremental deferred refueling outage costs incurred for the recovery through September 30, 2013. As of September 30, 2013, Entergy Arkansas has incurred approximately $33 million in capital spending, $11 million in operation and maintenance expense, and $1 million in incremental deferred refueling outage costs in excess of its recorded insurance receivable. | |
Baxter Wilson Plant Event | |
On September 11, 2013, Entergy Mississippi's Baxter Wilson (Unit 1) power plant experienced a significant unplanned outage event. The cause of the event is currently under investigation. Entergy Mississippi is still in the process of assessing the nature and extent of the damage to the unit. The current estimate of costs to return the unit to service, however, is in the range of $25 million to $30 million. This estimate and return to service schedule may change as restorative activities occur. The costs necessary to return the plant to service are expected to be incurred during the fourth quarter 2013 through the second quarter 2014. Entergy Mississippi believes that the damage is covered by its property insurance policy, subject to a $20 million deductible. | |
Nuclear Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy's nuclear power plants. | |
Conventional Property Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on Entergy's non-nuclear property insurance program. | |
Employment Litigation | |
           The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees and third parties not selected for open positions. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board; claims of retaliation; and claims for or regarding benefits under various Entergy Corporation sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. | |
Asbestos Litigation (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas) | |
           See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas. | |
Entergy Arkansas [Member] | ' |
Commitments And Contingencies | ' |
ENTERGY CORPORATION AND SUBSIDIARIES | |
NOTES TO FINANCIAL STATEMENTS | |
(Unaudited) | |
NOTE 1. COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein, discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein, and discusses proceedings involving Vermont Yankee in Note 1 to the financial statements in the Form 10-K and in Note 11 to the financial statements herein. | |
ANO Damage and Outage | |
               On March 31, 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The turbine building serves both ANO 1 and 2 and is a non-radiological area of the plant. ANO 2 reconnected to the grid on April 28, 2013 and ANO 1 reconnected to the grid on August 7, 2013. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment is currently estimated to be approximately $100 million. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. Each of the Utility operating companies has recovery mechanisms in place designed to recover its prudently-incurred fuel and purchased power costs. | |
           Entergy Arkansas is assessing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy is a member of Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members' nuclear generating plants, including ANO. NEIL has notified Entergy that it believes that a $50 million course of construction sublimit applies to any loss associated with the lifting apparatus failure and stator drop at ANO. Entergy has responded that it disagrees with NEIL's position and is evaluating its options for enforcing its rights under the policy. On July 12, 2013, Entergy Arkansas filed a complaint in the Circuit Court in Pope County, Arkansas against the owner of the heavy-lifting apparatus that collapsed, an engineering firm, a general contractor, and certain individuals asserting claims of breach of contract, negligence, and gross negligence in connection with their responsibility for the stator drop. | |
In the second quarter 2013, Entergy Arkansas recorded an insurance receivable of $50 million based on the minimum amount that it expects to receive from NEIL. This $50 million receivable offset approximately $35 million of capital spending, $13 million of operation and maintenance expense, and $2 million of incremental deferred refueling outage costs incurred for the recovery through September 30, 2013. As of September 30, 2013, Entergy Arkansas has incurred approximately $33 million in capital spending, $11 million in operation and maintenance expense, and $1 million in incremental deferred refueling outage costs in excess of its recorded insurance receivable. | |
Baxter Wilson Plant Event | |
On September 11, 2013, Entergy Mississippi's Baxter Wilson (Unit 1) power plant experienced a significant unplanned outage event. The cause of the event is currently under investigation. Entergy Mississippi is still in the process of assessing the nature and extent of the damage to the unit. The current estimate of costs to return the unit to service, however, is in the range of $25 million to $30 million. This estimate and return to service schedule may change as restorative activities occur. The costs necessary to return the plant to service are expected to be incurred during the fourth quarter 2013 through the second quarter 2014. Entergy Mississippi believes that the damage is covered by its property insurance policy, subject to a $20 million deductible. | |
Nuclear Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy's nuclear power plants. | |
Conventional Property Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on Entergy's non-nuclear property insurance program. | |
Employment Litigation | |
           The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees and third parties not selected for open positions. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board; claims of retaliation; and claims for or regarding benefits under various Entergy Corporation sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. | |
Asbestos Litigation (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas) | |
           See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas. | |
Entergy Gulf States Louisiana [Member] | ' |
Commitments And Contingencies | ' |
ENTERGY CORPORATION AND SUBSIDIARIES | |
NOTES TO FINANCIAL STATEMENTS | |
(Unaudited) | |
NOTE 1. COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein, discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein, and discusses proceedings involving Vermont Yankee in Note 1 to the financial statements in the Form 10-K and in Note 11 to the financial statements herein. | |
ANO Damage and Outage | |
               On March 31, 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The turbine building serves both ANO 1 and 2 and is a non-radiological area of the plant. ANO 2 reconnected to the grid on April 28, 2013 and ANO 1 reconnected to the grid on August 7, 2013. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment is currently estimated to be approximately $100 million. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. Each of the Utility operating companies has recovery mechanisms in place designed to recover its prudently-incurred fuel and purchased power costs. | |
           Entergy Arkansas is assessing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy is a member of Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members' nuclear generating plants, including ANO. NEIL has notified Entergy that it believes that a $50 million course of construction sublimit applies to any loss associated with the lifting apparatus failure and stator drop at ANO. Entergy has responded that it disagrees with NEIL's position and is evaluating its options for enforcing its rights under the policy. On July 12, 2013, Entergy Arkansas filed a complaint in the Circuit Court in Pope County, Arkansas against the owner of the heavy-lifting apparatus that collapsed, an engineering firm, a general contractor, and certain individuals asserting claims of breach of contract, negligence, and gross negligence in connection with their responsibility for the stator drop. | |
In the second quarter 2013, Entergy Arkansas recorded an insurance receivable of $50 million based on the minimum amount that it expects to receive from NEIL. This $50 million receivable offset approximately $35 million of capital spending, $13 million of operation and maintenance expense, and $2 million of incremental deferred refueling outage costs incurred for the recovery through September 30, 2013. As of September 30, 2013, Entergy Arkansas has incurred approximately $33 million in capital spending, $11 million in operation and maintenance expense, and $1 million in incremental deferred refueling outage costs in excess of its recorded insurance receivable. | |
Baxter Wilson Plant Event | |
On September 11, 2013, Entergy Mississippi's Baxter Wilson (Unit 1) power plant experienced a significant unplanned outage event. The cause of the event is currently under investigation. Entergy Mississippi is still in the process of assessing the nature and extent of the damage to the unit. The current estimate of costs to return the unit to service, however, is in the range of $25 million to $30 million. This estimate and return to service schedule may change as restorative activities occur. The costs necessary to return the plant to service are expected to be incurred during the fourth quarter 2013 through the second quarter 2014. Entergy Mississippi believes that the damage is covered by its property insurance policy, subject to a $20 million deductible. | |
Nuclear Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy's nuclear power plants. | |
Conventional Property Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on Entergy's non-nuclear property insurance program. | |
Employment Litigation | |
           The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees and third parties not selected for open positions. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board; claims of retaliation; and claims for or regarding benefits under various Entergy Corporation sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. | |
Asbestos Litigation (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas) | |
           See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas. | |
Entergy Louisiana [Member] | ' |
Commitments And Contingencies | ' |
ENTERGY CORPORATION AND SUBSIDIARIES | |
NOTES TO FINANCIAL STATEMENTS | |
(Unaudited) | |
NOTE 1. COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein, discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein, and discusses proceedings involving Vermont Yankee in Note 1 to the financial statements in the Form 10-K and in Note 11 to the financial statements herein. | |
ANO Damage and Outage | |
               On March 31, 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The turbine building serves both ANO 1 and 2 and is a non-radiological area of the plant. ANO 2 reconnected to the grid on April 28, 2013 and ANO 1 reconnected to the grid on August 7, 2013. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment is currently estimated to be approximately $100 million. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. Each of the Utility operating companies has recovery mechanisms in place designed to recover its prudently-incurred fuel and purchased power costs. | |
           Entergy Arkansas is assessing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy is a member of Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members' nuclear generating plants, including ANO. NEIL has notified Entergy that it believes that a $50 million course of construction sublimit applies to any loss associated with the lifting apparatus failure and stator drop at ANO. Entergy has responded that it disagrees with NEIL's position and is evaluating its options for enforcing its rights under the policy. On July 12, 2013, Entergy Arkansas filed a complaint in the Circuit Court in Pope County, Arkansas against the owner of the heavy-lifting apparatus that collapsed, an engineering firm, a general contractor, and certain individuals asserting claims of breach of contract, negligence, and gross negligence in connection with their responsibility for the stator drop. | |
In the second quarter 2013, Entergy Arkansas recorded an insurance receivable of $50 million based on the minimum amount that it expects to receive from NEIL. This $50 million receivable offset approximately $35 million of capital spending, $13 million of operation and maintenance expense, and $2 million of incremental deferred refueling outage costs incurred for the recovery through September 30, 2013. As of September 30, 2013, Entergy Arkansas has incurred approximately $33 million in capital spending, $11 million in operation and maintenance expense, and $1 million in incremental deferred refueling outage costs in excess of its recorded insurance receivable. | |
Baxter Wilson Plant Event | |
On September 11, 2013, Entergy Mississippi's Baxter Wilson (Unit 1) power plant experienced a significant unplanned outage event. The cause of the event is currently under investigation. Entergy Mississippi is still in the process of assessing the nature and extent of the damage to the unit. The current estimate of costs to return the unit to service, however, is in the range of $25 million to $30 million. This estimate and return to service schedule may change as restorative activities occur. The costs necessary to return the plant to service are expected to be incurred during the fourth quarter 2013 through the second quarter 2014. Entergy Mississippi believes that the damage is covered by its property insurance policy, subject to a $20 million deductible. | |
Nuclear Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy's nuclear power plants. | |
Conventional Property Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on Entergy's non-nuclear property insurance program. | |
Employment Litigation | |
           The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees and third parties not selected for open positions. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board; claims of retaliation; and claims for or regarding benefits under various Entergy Corporation sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. | |
Asbestos Litigation (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas) | |
           See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas. | |
Entergy Mississippi [Member] | ' |
Commitments And Contingencies | ' |
ENTERGY CORPORATION AND SUBSIDIARIES | |
NOTES TO FINANCIAL STATEMENTS | |
(Unaudited) | |
NOTE 1. COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein, discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein, and discusses proceedings involving Vermont Yankee in Note 1 to the financial statements in the Form 10-K and in Note 11 to the financial statements herein. | |
ANO Damage and Outage | |
               On March 31, 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The turbine building serves both ANO 1 and 2 and is a non-radiological area of the plant. ANO 2 reconnected to the grid on April 28, 2013 and ANO 1 reconnected to the grid on August 7, 2013. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment is currently estimated to be approximately $100 million. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. Each of the Utility operating companies has recovery mechanisms in place designed to recover its prudently-incurred fuel and purchased power costs. | |
           Entergy Arkansas is assessing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy is a member of Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members' nuclear generating plants, including ANO. NEIL has notified Entergy that it believes that a $50 million course of construction sublimit applies to any loss associated with the lifting apparatus failure and stator drop at ANO. Entergy has responded that it disagrees with NEIL's position and is evaluating its options for enforcing its rights under the policy. On July 12, 2013, Entergy Arkansas filed a complaint in the Circuit Court in Pope County, Arkansas against the owner of the heavy-lifting apparatus that collapsed, an engineering firm, a general contractor, and certain individuals asserting claims of breach of contract, negligence, and gross negligence in connection with their responsibility for the stator drop. | |
In the second quarter 2013, Entergy Arkansas recorded an insurance receivable of $50 million based on the minimum amount that it expects to receive from NEIL. This $50 million receivable offset approximately $35 million of capital spending, $13 million of operation and maintenance expense, and $2 million of incremental deferred refueling outage costs incurred for the recovery through September 30, 2013. As of September 30, 2013, Entergy Arkansas has incurred approximately $33 million in capital spending, $11 million in operation and maintenance expense, and $1 million in incremental deferred refueling outage costs in excess of its recorded insurance receivable. | |
Baxter Wilson Plant Event | |
On September 11, 2013, Entergy Mississippi's Baxter Wilson (Unit 1) power plant experienced a significant unplanned outage event. The cause of the event is currently under investigation. Entergy Mississippi is still in the process of assessing the nature and extent of the damage to the unit. The current estimate of costs to return the unit to service, however, is in the range of $25 million to $30 million. This estimate and return to service schedule may change as restorative activities occur. The costs necessary to return the plant to service are expected to be incurred during the fourth quarter 2013 through the second quarter 2014. Entergy Mississippi believes that the damage is covered by its property insurance policy, subject to a $20 million deductible. | |
Nuclear Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy's nuclear power plants. | |
Conventional Property Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on Entergy's non-nuclear property insurance program. | |
Employment Litigation | |
           The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees and third parties not selected for open positions. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board; claims of retaliation; and claims for or regarding benefits under various Entergy Corporation sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. | |
Asbestos Litigation (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas) | |
           See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas. | |
Entergy New Orleans | ' |
Commitments And Contingencies | ' |
ENTERGY CORPORATION AND SUBSIDIARIES | |
NOTES TO FINANCIAL STATEMENTS | |
(Unaudited) | |
NOTE 1. COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein, discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein, and discusses proceedings involving Vermont Yankee in Note 1 to the financial statements in the Form 10-K and in Note 11 to the financial statements herein. | |
ANO Damage and Outage | |
               On March 31, 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The turbine building serves both ANO 1 and 2 and is a non-radiological area of the plant. ANO 2 reconnected to the grid on April 28, 2013 and ANO 1 reconnected to the grid on August 7, 2013. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment is currently estimated to be approximately $100 million. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. Each of the Utility operating companies has recovery mechanisms in place designed to recover its prudently-incurred fuel and purchased power costs. | |
           Entergy Arkansas is assessing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy is a member of Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members' nuclear generating plants, including ANO. NEIL has notified Entergy that it believes that a $50 million course of construction sublimit applies to any loss associated with the lifting apparatus failure and stator drop at ANO. Entergy has responded that it disagrees with NEIL's position and is evaluating its options for enforcing its rights under the policy. On July 12, 2013, Entergy Arkansas filed a complaint in the Circuit Court in Pope County, Arkansas against the owner of the heavy-lifting apparatus that collapsed, an engineering firm, a general contractor, and certain individuals asserting claims of breach of contract, negligence, and gross negligence in connection with their responsibility for the stator drop. | |
In the second quarter 2013, Entergy Arkansas recorded an insurance receivable of $50 million based on the minimum amount that it expects to receive from NEIL. This $50 million receivable offset approximately $35 million of capital spending, $13 million of operation and maintenance expense, and $2 million of incremental deferred refueling outage costs incurred for the recovery through September 30, 2013. As of September 30, 2013, Entergy Arkansas has incurred approximately $33 million in capital spending, $11 million in operation and maintenance expense, and $1 million in incremental deferred refueling outage costs in excess of its recorded insurance receivable. | |
Baxter Wilson Plant Event | |
On September 11, 2013, Entergy Mississippi's Baxter Wilson (Unit 1) power plant experienced a significant unplanned outage event. The cause of the event is currently under investigation. Entergy Mississippi is still in the process of assessing the nature and extent of the damage to the unit. The current estimate of costs to return the unit to service, however, is in the range of $25 million to $30 million. This estimate and return to service schedule may change as restorative activities occur. The costs necessary to return the plant to service are expected to be incurred during the fourth quarter 2013 through the second quarter 2014. Entergy Mississippi believes that the damage is covered by its property insurance policy, subject to a $20 million deductible. | |
Nuclear Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy's nuclear power plants. | |
Conventional Property Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on Entergy's non-nuclear property insurance program. | |
Employment Litigation | |
           The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees and third parties not selected for open positions. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board; claims of retaliation; and claims for or regarding benefits under various Entergy Corporation sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. | |
Asbestos Litigation (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas) | |
           See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas. | |
Entergy Texas [Member] | ' |
Commitments And Contingencies | ' |
ENTERGY CORPORATION AND SUBSIDIARIES | |
NOTES TO FINANCIAL STATEMENTS | |
(Unaudited) | |
NOTE 1. COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein, discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein, and discusses proceedings involving Vermont Yankee in Note 1 to the financial statements in the Form 10-K and in Note 11 to the financial statements herein. | |
ANO Damage and Outage | |
               On March 31, 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The turbine building serves both ANO 1 and 2 and is a non-radiological area of the plant. ANO 2 reconnected to the grid on April 28, 2013 and ANO 1 reconnected to the grid on August 7, 2013. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment is currently estimated to be approximately $100 million. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. Each of the Utility operating companies has recovery mechanisms in place designed to recover its prudently-incurred fuel and purchased power costs. | |
           Entergy Arkansas is assessing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy is a member of Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members' nuclear generating plants, including ANO. NEIL has notified Entergy that it believes that a $50 million course of construction sublimit applies to any loss associated with the lifting apparatus failure and stator drop at ANO. Entergy has responded that it disagrees with NEIL's position and is evaluating its options for enforcing its rights under the policy. On July 12, 2013, Entergy Arkansas filed a complaint in the Circuit Court in Pope County, Arkansas against the owner of the heavy-lifting apparatus that collapsed, an engineering firm, a general contractor, and certain individuals asserting claims of breach of contract, negligence, and gross negligence in connection with their responsibility for the stator drop. | |
In the second quarter 2013, Entergy Arkansas recorded an insurance receivable of $50 million based on the minimum amount that it expects to receive from NEIL. This $50 million receivable offset approximately $35 million of capital spending, $13 million of operation and maintenance expense, and $2 million of incremental deferred refueling outage costs incurred for the recovery through September 30, 2013. As of September 30, 2013, Entergy Arkansas has incurred approximately $33 million in capital spending, $11 million in operation and maintenance expense, and $1 million in incremental deferred refueling outage costs in excess of its recorded insurance receivable. | |
Baxter Wilson Plant Event | |
On September 11, 2013, Entergy Mississippi's Baxter Wilson (Unit 1) power plant experienced a significant unplanned outage event. The cause of the event is currently under investigation. Entergy Mississippi is still in the process of assessing the nature and extent of the damage to the unit. The current estimate of costs to return the unit to service, however, is in the range of $25 million to $30 million. This estimate and return to service schedule may change as restorative activities occur. The costs necessary to return the plant to service are expected to be incurred during the fourth quarter 2013 through the second quarter 2014. Entergy Mississippi believes that the damage is covered by its property insurance policy, subject to a $20 million deductible. | |
Nuclear Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy's nuclear power plants. | |
Conventional Property Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on Entergy's non-nuclear property insurance program. | |
Employment Litigation | |
           The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees and third parties not selected for open positions. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board; claims of retaliation; and claims for or regarding benefits under various Entergy Corporation sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. | |
Asbestos Litigation (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas) | |
           See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas. | |
System Energy [Member] | ' |
Commitments And Contingencies | ' |
ENTERGY CORPORATION AND SUBSIDIARIES | |
NOTES TO FINANCIAL STATEMENTS | |
(Unaudited) | |
NOTE 1. COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein, discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein, and discusses proceedings involving Vermont Yankee in Note 1 to the financial statements in the Form 10-K and in Note 11 to the financial statements herein. | |
ANO Damage and Outage | |
               On March 31, 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The turbine building serves both ANO 1 and 2 and is a non-radiological area of the plant. ANO 2 reconnected to the grid on April 28, 2013 and ANO 1 reconnected to the grid on August 7, 2013. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment is currently estimated to be approximately $100 million. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. Each of the Utility operating companies has recovery mechanisms in place designed to recover its prudently-incurred fuel and purchased power costs. | |
           Entergy Arkansas is assessing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. Entergy is a member of Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members' nuclear generating plants, including ANO. NEIL has notified Entergy that it believes that a $50 million course of construction sublimit applies to any loss associated with the lifting apparatus failure and stator drop at ANO. Entergy has responded that it disagrees with NEIL's position and is evaluating its options for enforcing its rights under the policy. On July 12, 2013, Entergy Arkansas filed a complaint in the Circuit Court in Pope County, Arkansas against the owner of the heavy-lifting apparatus that collapsed, an engineering firm, a general contractor, and certain individuals asserting claims of breach of contract, negligence, and gross negligence in connection with their responsibility for the stator drop. | |
In the second quarter 2013, Entergy Arkansas recorded an insurance receivable of $50 million based on the minimum amount that it expects to receive from NEIL. This $50 million receivable offset approximately $35 million of capital spending, $13 million of operation and maintenance expense, and $2 million of incremental deferred refueling outage costs incurred for the recovery through September 30, 2013. As of September 30, 2013, Entergy Arkansas has incurred approximately $33 million in capital spending, $11 million in operation and maintenance expense, and $1 million in incremental deferred refueling outage costs in excess of its recorded insurance receivable. | |
Baxter Wilson Plant Event | |
On September 11, 2013, Entergy Mississippi's Baxter Wilson (Unit 1) power plant experienced a significant unplanned outage event. The cause of the event is currently under investigation. Entergy Mississippi is still in the process of assessing the nature and extent of the damage to the unit. The current estimate of costs to return the unit to service, however, is in the range of $25 million to $30 million. This estimate and return to service schedule may change as restorative activities occur. The costs necessary to return the plant to service are expected to be incurred during the fourth quarter 2013 through the second quarter 2014. Entergy Mississippi believes that the damage is covered by its property insurance policy, subject to a $20 million deductible. | |
Nuclear Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy's nuclear power plants. | |
Conventional Property Insurance | |
           See Note 8 to the financial statements in the Form 10-K for information on Entergy's non-nuclear property insurance program. | |
Employment Litigation | |
           The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees and third parties not selected for open positions. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board; claims of retaliation; and claims for or regarding benefits under various Entergy Corporation sponsored plans. Entergy and the Registrant Subsidiaries are responding to these lawsuits and proceedings and deny liability to the claimants. | |
Asbestos Litigation (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas) | |
           See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas. | |
Rate_And_Regulatory_Matters
Rate And Regulatory Matters | 9 Months Ended | |
Sep. 30, 2013 | ||
Rate And Regulatory Matters | ' | |
NOTE 2. RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||
Regulatory Assets | ||
           See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that information. | ||
Fuel and Purchased Power Cost Recovery | ||
Entergy Louisiana | ||
           In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana's fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC Staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million, plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana's fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. Two parties have intervened in the proceeding. A procedural schedule has been established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC Staff report and any issues raised by intervenors. One intervenor is seeking further proceedings regarding certain issues it raised in its comments on the LPSC Staff report. Entergy Louisiana has filed responses to both the LPSC Staff report and the issues raised by the intervenor. As required by the procedural schedule, a joint status report was submitted in October 2013 by the parties. That report requests that a status conference be convened by the ALJ to address open issues, including whether further proceedings will be required. A status conference has been scheduled for December 5, 2013. | ||
Entergy Texas | ||
           In November 2012, Entergy Texas filed a pleading seeking a PUCT finding that special circumstances exist for limited cost recovery of capacity costs associated with two purchased power agreements until such time that these costs are included in base rates or a purchased capacity recovery rider or other recovery mechanism. In March 2013 the PUCT Staff and intervenors filed a joint motion to dismiss Entergy Texas's application seeking special circumstances recovery of these capacity costs. Entergy Texas filed to withdraw this case without prejudice and the judge granted the request in June 2013. | ||
At the April 11, 2013 open meeting, the PUCT Commissioners discussed their view that a purchased power capacity rider was good public policy.  The PUCT issued an order on May 28, 2013 adopting the rule allowing for a purchased power capacity rider, subject to an offsetting adjustment for load growth. The rule, as adopted, also includes a process for obtaining pre-approval by the PUCT of purchased power agreements. Entergy Texas has not exercised the option to recover its capacity costs under the new rider mechanism due to the pending base rate case filed with the PUCT in September 2013, but will continue to evaluate the benefits of utilizing the new rider to recover future capacity costs. | ||
Retail Rate Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. | ||
Filings with the APSC (Entergy Arkansas) | ||
Retail Rates | ||
2013 Base Rate Filing | ||
           In March 2013, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. Recognizing that the final structure of Entergy Arkansas's transmission business has not been determined, the filing presents two alternative scenarios for the APSC to establish the appropriate level of rates for Entergy Arkansas. In the primary scenario, which assumes that Entergy Arkansas will transition to MISO in December 2013, Entergy Arkansas requests a rate increase of $174 million, including $49 million of revenue being transferred from collection in riders to base rates. The alternate scenario, which also assumes completion of the proposed spin-merge of the transmission business with ITC, reflects a $218 million total rate increase request. Both scenarios propose a new transmission rider and a capacity cost recovery rider. The filing requests a 10.4% return on common equity. In September 2013 Entergy Arkansas filed testimony reflecting an updated rate increase request of $145 million in the primary scenario, with no change to its requested return on common equity of 10.4%. Hearings in the proceeding began in October 2013, and an APSC decision is pending. New rates are expected to become effective by January 2014. | ||
Filings with the LPSC | ||
Retail Rates - Electric | ||
(Entergy Gulf States Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Gulf States Louisiana's formula rate plan. In May 2012, Entergy Gulf States Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected an 11.94% earned return on common equity, which is above the earnings bandwidth and would indicate a $6.5 million cost of service rate decrease was necessary under the formula rate plan. The filing also reflected a $22.9 million rate decrease for the incremental capacity rider. Subsequently, in August 2012, Entergy Gulf States Louisiana submitted a revised filing that reflected an earned return on common equity of 11.86% indicating a $5.7 million cost of service rate decrease is necessary under the formula rate plan. The revised filing also indicates that a reduction of $20.3 million should be reflected in the incremental capacity rider. The rate reductions were implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Gulf States Louisiana submitted a revised evaluation report that reflects expected retail jurisdictional cost of $16.9 million for the first-year capacity charges for the purchase from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy. This rate change was implemented effective with the first billing cycle of January 2013. The 2011 test year filings, as revised, were approved by the LPSC in February 2013. In April 2013, Entergy Gulf States Louisiana submitted a revised evaluation report increasing the incremental capacity rider by approximately $7.3 million to reflect the cost of an additional capacity contract. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Gulf States Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in November 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Gulf States Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. The base rate case is currently scheduled for an evidentiary hearing in February 2014. An extension of the deadline for the filing of the staff's and intervenors' testimony was granted to allow for settlement negotiations, which are ongoing. | ||
(Entergy Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Louisiana's formula rate plan. In May 2012, Entergy Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected a 9.63% earned return on common equity, which is within the earnings bandwidth and results in no cost of service rate change under the formula rate plan. The filing also reflected an $18.1 million rate increase for incremental capacity costs. In August 2012, Entergy Louisiana submitted a revised filing that reflects an earned return on common equity of 10.38%, which is still within the earnings bandwidth, resulting in no cost of service rate change. The revised filing also indicates that an increase of $15.9 million should be reflected in the incremental capacity rider. The rate change was implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Louisiana submitted a revised evaluation report that reflects two items: 1) a $17 million reduction for the first-year capacity charges for the purchase by Entergy Gulf States Louisiana from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy, and 2) an $88 million increase for the first-year retail revenue requirement associated with the Waterford 3 replacement steam generator project, which was in-service in December 2012. These rate changes were implemented, subject to refund, effective with the first billing cycle of January 2013. In April 2013, Entergy Louisiana and the LPSC staff filed a joint report resolving the 2011 test year formula rate plan and recovery related to the Grand Gulf uprate. This report was approved by the LPSC in April 2013. With completion of the Waterford 3 replacement steam generator project, the LPSC is conducting a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs.  A procedural schedule for the prudence review has not yet been established. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in December 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. A new procedural schedule was established calling for an evidentiary hearing in December 2013. Entergy Louisiana submitted an opposed motion to modify the procedural schedule to allow for settlement negotiations, which are ongoing. The motion was granted and the evidentiary hearing has been rescheduled to occur in January 2014. | ||
Retail Rates - Gas (Entergy Gulf States Louisiana) | ||
           In January 2013, Entergy Gulf States Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2012. The filing showed an earned return on common equity of 11.18%, which resulted in a $43 thousand rate reduction. In March 2013 the LPSC Staff issued its proposed findings and recommended two adjustments. The first is to normalize property insurance expense, and the second is to modify the return on equity for gas operations to reflect the return on equity that ultimately is approved by the LPSC in the investigation previously initiated by the LPSC to review the return on equity for Louisiana gas utilities. Entergy Gulf States Louisiana and the LPSC Staff reached agreement regarding the LPSC Staff's proposed adjustments. As reflected in an unopposed joint report of proceedings filed by Entergy Gulf States Louisiana and the LPSC Staff on May 16, 2013, Entergy Gulf States Louisiana accepted, with modification, the LPSC Staff's proposed adjustment to property insurance expense and agreed to: (1) a three-year extension of the gas rate stabilization plan with a midpoint return on equity of 9.95%, with a first year midpoint reset; (2) dismissal of the docket initiated by the LPSC to evaluate the allowed return on equity for Entergy Gulf States Louisiana's gas rate stabilization plan; and (3) presentation to the LPSC by November 2014 by Entergy Gulf States Louisiana and the LPSC Staff of their recommendation for implementation of an infrastructure rider to recover expenditures associated with strategic plant investment. The LPSC approved the agreement in May 2013. | ||
Filings with the MPSC (Entergy Mississippi) | ||
Formula Rate Plan Filings | ||
           In March 2013, Entergy Mississippi submitted its formula rate plan 2012 test year filing. The filing requested a $36.3 million revenue increase to reset Entergy Mississippi's return on common equity to 10.55%, which is a point within the formula rate plan bandwidth. On June 6, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, in which both parties agreed that the MPSC should approve a $22.3 million rate increase for Entergy Mississippi which, with other adjustments reflected in the stipulation, would have the effect of resetting Entergy Mississippi's return on common equity to 10.59% when adjusted for performance under the formula rate plan. In August 2013 the MPSC approved the joint stipulation between Entergy Mississippi and the Mississippi Public Utilities Staff authorizing the rate increase effective with September 2013 bills. Additionally, the MPSC authorized Entergy Mississippi to defer approximately $1.2 million in MISO-related implementation costs incurred in 2012 along with other MISO-related implementation costs to be incurred in 2013. | ||
Filings with the City Council | ||
(Entergy Louisiana) | ||
           In March 2013, Entergy Louisiana filed a rate case for the Algiers area, which is in New Orleans and is regulated by the City Council. Entergy Louisiana is requesting a rate increase of $13 million over three years, including a 10.4% return on common equity and a formula rate plan mechanism identical to its LPSC request. Hearings are scheduled for April 2014. New rates are currently expected to become effective in second quarter 2014. | ||
(Entergy New Orleans) | ||
           As discussed in the Form 10-K, in May 2012, Entergy New Orleans filed its electric and gas formula rate plan evaluation reports for the 2011 test year.  In August 2013 the City Council unanimously approved a settlement of all issues in the formula rate plan proceeding. Pursuant to the terms of the settlement, Entergy New Orleans implemented an approximately $1.625 million net decrease to the electric rates that were in effect prior to the electric rate increase implemented in October 2012, with no change in gas rates. Entergy New Orleans is in the process of refunding to customers approximately $6.0 million over the four-month period from September 2013 through December 2013 to make the electric rate decrease effective as of the first billing cycle of October 2012. Entergy New Orleans had previously recorded provisions for the majority of the refund to customers, but recorded an additional $1.1 million provision in second quarter 2013 as a result of the settlement. | ||
Filings with the PUCT (Entergy Texas) | ||
2013 Rate Case | ||
           In September 2013, Entergy Texas filed a rate case requesting a $38.6 million base rate increase reflecting a 10.4% return on common equity based on an adjusted test year ending March 31, 2013. The rate case also proposed (1) a rough production cost equalization adjustment rider recovering Entergy Texas's payment to Entergy New Orleans to achieve rough production cost equalization based on calendar year 2012 production costs, (2) a rate case expense rider recovering the cost of the 2013 rate case and certain costs associated with previous rate cases, and (3) a transmission cost recovery factor rider recovering any differences in transmission costs and rate mitigation compared to those included in base rates to the extent the proposed spin-merge transaction with ITC Holdings Corp. is completed. The rate case filing also includes a request to reconcile $0.9 billion of fuel and purchased power costs and fuel revenues covering the period July 2011 through March 2013. The fuel reconciliation also reflects special circumstances fuel cost recovery of approximately $22 million of purchased power capacity costs. A procedural schedule has been set that includes staff testimony due in December 2013 and hearings in January 2014. If approved, new rates could go into effect as early as April 2014. | ||
System Agreement Cost Equalization Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceedings regarding the System Agreement. Following are updates to that discussion. | ||
Rough Production Cost Equalization Rates | ||
2007 Rate Filing Based on Calendar Year 2006 Production Costs | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued two orders related to this proceeding.  The first order provided clarification with regard to the derivation of the ratio that should be used to functionalize net operating loss carryforwards for purposes of the annual bandwidth filings. The second order denied Entergy's request for rehearing of the FERC's prior determination that interest should be included on recalculated payment and receipt amounts required in this particular proceeding due to the length of time that had passed. | ||
2008 Rate Filing Based on Calendar Year 2007 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In March 2013 the LPSC filed a petition for review with the U.S. Court of Appeals for the Fifth Circuit seeking appellate review of the FERC's earlier orders addressing the ALJ's initial decision. | ||
2009 Rate Filing Based on Calendar Year 2008 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In January 2013 the LPSC filed a protest of Entergy's July 2012 compliance filing submitted in response to the FERC's May 2012 order. On October 16, 2013, the FERC issued orders denying the LPSC's rehearing request with respect to the FERC's May 2012 order and addressing Entergy's compliance filing implementing the FERC's directives in the May 2012 order. The compliance filing order referred to guidance provided in a separate order issued on that same day in the 2007 rate proceeding with respect to the ratio used to functionalize net operating loss carryforwards for bandwidth purposes and directed Entergy to make an additional compliance filing in the 2009 rate proceeding consistent with the guidance provided in that order. | ||
2010 Rate Filing Based on Calendar Year 2009 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued an order granting clarification and denying rehearing with respect to its October 6, 2011 rehearing order in this proceeding.  The FERC clarified that in a bandwidth proceeding parties can challenge erroneous inputs, implementation errors, or prudence of cost inputs, but challenges to the bandwidth formula itself must be raised in a Federal Power Act section 206 complaint or section 205 filing.  On October 18, 2013, the presiding ALJ lifted the stay order holding in abeyance the hearing previously ordered by the FERC and directing that the remaining issues proceed to a hearing on the merits. | ||
It is probable that the October 2013 orders disclosed above will result in a reallocation of payments/receipts among the Utility operating companies to achieve production cost equalization as defined by the FERC orders. There is still significant uncertainty, however, as to the amount and allocation of these payments/receipts. This uncertainty relates to other pending orders associated with these rate filings, potential requests for further clarification from the FERC regarding the issued orders, and Entergy's legal strategy going forward. Any payments required by the Utility operating companies as a result of these rate filings are expected to be recoverable from customers, and any receipts are expected to be credited to customers. The effect of any such payments or receipts is not expected to be material to the results of operations, financial position or cash flows of Entergy or the Utility operating companies. | ||
2013 Rate Filing Based on Calendar Year 2012 Production Costs | ||
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Several parties intervened in the proceeding at the FERC, including the LPSC, which filed a protest as well. The City Council intervened and filed comments related to including the outcome of a related FERC proceeding in the 2013 cost equalization calculation. On August 31, 2013, FERC issued an order accepting the 2013 rates, effective June 1, 2013, subject to refund, set the proceeding for hearing procedures, and then held those procedures in abeyance pending FERC decisions in the prior production cost proceedings currently before the FERC on review. | ||
Interruptible Load Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceeding regarding the treatment under the System Agreement of the Utility operating companies' interruptible loads. On March 21, 2013, the FERC issued an order denying the LPSC's request for rehearing of the FERC's June 2011 order wherein the FERC concluded it would exercise its discretion and not order refunds in the interruptible load proceeding. Based on its review of the LPSC's request for rehearing and the briefs filed as part of the paper hearing established in October 2011, the FERC affirmed its earlier ruling and declined to order refunds under the circumstances of the case. On May 2, 2013, the LPSC filed a petition for review with the U.S. Court of Appeals for the D.C. Circuit seeking review of FERC's prior orders in the Interruptible Load Proceeding concluding that it would exercise its discretion and not order refunds in the proceeding. The appeal is pending. | ||
Storm Cost Recovery Filings with Retail Regulators | ||
Entergy Gulf States Louisiana and Entergy Louisiana | ||
Hurricane Isaac | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of Hurricane Isaac and the damage caused to portions of Entergy's service area in Louisiana. In January 2013, Entergy Gulf States Louisiana and Entergy Louisiana withdrew $65 million and $187 million, respectively, from their storm reserve escrow accounts. In April 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a joint application with the LPSC relating to Hurricane Isaac system restoration costs. Specifically, Entergy Gulf States Louisiana and Entergy Louisiana requested that the LPSC determine the amount of such costs that were prudently incurred and are, thus, eligible for recovery from customers. Including carrying costs and additional storm escrow funds, Entergy Gulf States Louisiana is seeking an LPSC determination that $73.8 million in system restoration costs were prudently incurred and Entergy Louisiana is seeking an LPSC determination that $247.7 million in system restoration costs were prudently incurred. Entergy Gulf States Louisiana and Entergy Louisiana intend to replenish their storm escrow accounts to $90 million and $200 million, respectively, primarily through traditional debt markets and have requested special rate treatment of any borrowings for that purpose. In May 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a supplemental application proposing a specific means to finance system restoration costs and related requests. Entergy Gulf States Louisiana and Entergy Louisiana are proposing to finance Hurricane Isaac restoration costs through Louisiana Act 55 financing, which was the same method they used for Hurricanes Katrina, Rita, Gustav, and Ike. | ||
The LPSC Staff filed direct testimony in September 2013 concluding that Hurricane Isaac system restoration costs incurred by Entergy Gulf States Louisiana and Entergy Louisiana were reasonable and prudent, subject to proposed minor adjustments which totaled approximately 1% of each company's costs. The LPSC Staff also supported the requests to re-establish storm reserves of $90 million for Entergy Gulf States Louisiana and $200Â million for Entergy Louisiana. One intervenor filed testimony recommending storm reserve levels of $70Â million for Entergy Gulf States Louisiana and $100 million for Entergy Louisiana, but takes no position on the prudence of the Hurricane Isaac system restoration costs. An evidentiary hearing is scheduled in December 2013, with an LPSC decision expected in 2014. | ||
Entergy Mississippi | ||
           On July 1, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, wherein both parties agreed that approximately $32 million in storm restoration costs incurred in 2011 and 2012 were prudently incurred and chargeable to the storm damage reserve, while approximately $700,000 in prudently incurred costs were more properly recoverable through the formula rate plan. Entergy Mississippi and the Mississippi Public Utilities Staff also agreed that the storm damage accrual should be increased from $750,000 per month to $1.75 million per month. In September 2013 the MPSC approved the joint stipulation with the increase in the storm damage accrual effective with October 2013 bills. | ||
Texas Power Price Lawsuit | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of the lawsuit filed in August 2003 in the district court of Chambers County, Texas by Texas residents on behalf of a purported class of the Texas retail customers of Entergy Gulf States, Inc. who were billed and paid for electric power from January 1, 1994 to the present. The case is pending in state district court, and in March 2012 the court found that the case met the requirements to be maintained as a class action under Texas law. In April 2012 the court entered an order certifying the class. The defendants have appealed the order to the Texas Court of Appeals – First District. The appeal is pending, and proceedings in district court are stayed until the appeal is resolved. Oral arguments before the court of appeals were conducted on April 23, 2013, and the matter awaits that court's decision. | ||
Entergy Arkansas Opportunity Sales Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the Entergy Arkansas opportunity sales proceeding. As required by the procedural schedule established in the calculation proceeding, Entergy filed its direct testimony that included a proposed illustrative re-run, consistent with the directives in FERC's order, of intra-system bills for 2003, 2004, and 2006, the three years with the highest volume of opportunity sales. Entergy's proposed illustrative re-run of intra-system bills shows that the potential cost for Entergy Arkansas would be up to $12 million for the years 2003, 2004, and 2006, and the potential benefit would be significantly less than that for each of the other Utility operating companies. Entergy's proposed illustrative re-run of the intra-system bills also shows an offsetting potential benefit to Entergy Arkansas for the years 2003, 2004, and 2006 resulting from the effects of the FERC's order on System Agreement Service Schedules MSS-1, MSS-2, and MSS-3, and the potential offsetting cost would be significantly less than that for each of the other Utility operating companies. Entergy provided to the LPSC an illustrative intra-system bill recalculation as specified by the LPSC for the years 2003, 2004, and 2006, and the LPSC then filed answering testimony in December 2012. In its testimony the LPSC claims that the damages that should be paid by Entergy Arkansas to the other Utility operating companies' customers for 2003, 2004, and 2006 are $42 million to Entergy Gulf States, Inc., $7 million to Entergy Louisiana, $23 million to Entergy Mississippi, and $4 million to Entergy New Orleans. The FERC staff and certain intervenors filed direct and answering testimony in February 2013. In April 2013, Entergy filed its rebuttal testimony in that proceeding, including a revised illustrative re-run of the intra-system bills for the years 2003, 2004, and 2006. The revised calculation determines the re-pricing of the opportunity sales based on consideration of moveable resources only and the removal of exchange energy received by Entergy Arkansas, which increases the potential cost for Entergy Arkansas over the three years 2003, 2004, and 2006 by $2.3 million from the potential costs identified in the Utility operating companies' prior filings in September and October 2012. A hearing was held in May 2013 to quantify the effect of repricing the opportunity sales in accordance with the FERC's decision. | ||
           In August 2013 the presiding judge issued an initial decision. The initial decision concludes that the methodology proposed by the LPSC, rather than the methodologies proposed by Entergy or the FERC Staff, should be used to calculate the payments that Entergy Arkansas is to make to the other Utility operating companies. The initial decision also concludes that the other System Agreement service schedules should not be adjusted and that payments by Entergy Arkansas should not be reflected in the rough production cost equalization bandwidth calculations for the applicable years. The initial decision does recognize that the LPSC's methodology would result in an inequitable windfall to the other Utility operating companies and, therefore, concludes that any payments by Entergy Arkansas should be reduced by 20%. The Utility operating companies are currently analyzing the effects of the initial decision. The initial decision and record in the case have been forwarded to the FERC for review. The LPSC, APSC, City Council, and FERC staff filed briefs on exceptions and/or briefs opposing exceptions. Entergy filed a brief on exceptions requesting that FERC reverse the initial decision and a brief opposing certain exceptions taken by the LPSC and FERC staff. The FERC's review of the initial decision is pending.  No payments will be made or received by the Utility operating companies until the FERC issues an order reviewing the initial decision and Entergy submits a subsequent filing to comply with that order. | ||
Entergy Arkansas [Member] | ' | |
Rate And Regulatory Matters | ' | |
NOTE 2. RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||
Regulatory Assets | ||
           See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that information. | ||
Fuel and Purchased Power Cost Recovery | ||
Entergy Louisiana | ||
           In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana's fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC Staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million, plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana's fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. Two parties have intervened in the proceeding. A procedural schedule has been established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC Staff report and any issues raised by intervenors. One intervenor is seeking further proceedings regarding certain issues it raised in its comments on the LPSC Staff report. Entergy Louisiana has filed responses to both the LPSC Staff report and the issues raised by the intervenor. As required by the procedural schedule, a joint status report was submitted in October 2013 by the parties. That report requests that a status conference be convened by the ALJ to address open issues, including whether further proceedings will be required. A status conference has been scheduled for December 5, 2013. | ||
Entergy Texas | ||
           In November 2012, Entergy Texas filed a pleading seeking a PUCT finding that special circumstances exist for limited cost recovery of capacity costs associated with two purchased power agreements until such time that these costs are included in base rates or a purchased capacity recovery rider or other recovery mechanism. In March 2013 the PUCT Staff and intervenors filed a joint motion to dismiss Entergy Texas's application seeking special circumstances recovery of these capacity costs. Entergy Texas filed to withdraw this case without prejudice and the judge granted the request in June 2013. | ||
At the April 11, 2013 open meeting, the PUCT Commissioners discussed their view that a purchased power capacity rider was good public policy.  The PUCT issued an order on May 28, 2013 adopting the rule allowing for a purchased power capacity rider, subject to an offsetting adjustment for load growth. The rule, as adopted, also includes a process for obtaining pre-approval by the PUCT of purchased power agreements. Entergy Texas has not exercised the option to recover its capacity costs under the new rider mechanism due to the pending base rate case filed with the PUCT in September 2013, but will continue to evaluate the benefits of utilizing the new rider to recover future capacity costs. | ||
Retail Rate Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. | ||
Filings with the APSC (Entergy Arkansas) | ||
Retail Rates | ||
2013 Base Rate Filing | ||
           In March 2013, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. Recognizing that the final structure of Entergy Arkansas's transmission business has not been determined, the filing presents two alternative scenarios for the APSC to establish the appropriate level of rates for Entergy Arkansas. In the primary scenario, which assumes that Entergy Arkansas will transition to MISO in December 2013, Entergy Arkansas requests a rate increase of $174 million, including $49 million of revenue being transferred from collection in riders to base rates. The alternate scenario, which also assumes completion of the proposed spin-merge of the transmission business with ITC, reflects a $218 million total rate increase request. Both scenarios propose a new transmission rider and a capacity cost recovery rider. The filing requests a 10.4% return on common equity. In September 2013 Entergy Arkansas filed testimony reflecting an updated rate increase request of $145 million in the primary scenario, with no change to its requested return on common equity of 10.4%. Hearings in the proceeding began in October 2013, and an APSC decision is pending. New rates are expected to become effective by January 2014. | ||
Filings with the LPSC | ||
Retail Rates - Electric | ||
(Entergy Gulf States Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Gulf States Louisiana's formula rate plan. In May 2012, Entergy Gulf States Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected an 11.94% earned return on common equity, which is above the earnings bandwidth and would indicate a $6.5 million cost of service rate decrease was necessary under the formula rate plan. The filing also reflected a $22.9 million rate decrease for the incremental capacity rider. Subsequently, in August 2012, Entergy Gulf States Louisiana submitted a revised filing that reflected an earned return on common equity of 11.86% indicating a $5.7 million cost of service rate decrease is necessary under the formula rate plan. The revised filing also indicates that a reduction of $20.3 million should be reflected in the incremental capacity rider. The rate reductions were implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Gulf States Louisiana submitted a revised evaluation report that reflects expected retail jurisdictional cost of $16.9 million for the first-year capacity charges for the purchase from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy. This rate change was implemented effective with the first billing cycle of January 2013. The 2011 test year filings, as revised, were approved by the LPSC in February 2013. In April 2013, Entergy Gulf States Louisiana submitted a revised evaluation report increasing the incremental capacity rider by approximately $7.3 million to reflect the cost of an additional capacity contract. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Gulf States Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in November 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Gulf States Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. The base rate case is currently scheduled for an evidentiary hearing in February 2014. An extension of the deadline for the filing of the staff's and intervenors' testimony was granted to allow for settlement negotiations, which are ongoing. | ||
(Entergy Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Louisiana's formula rate plan. In May 2012, Entergy Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected a 9.63% earned return on common equity, which is within the earnings bandwidth and results in no cost of service rate change under the formula rate plan. The filing also reflected an $18.1 million rate increase for incremental capacity costs. In August 2012, Entergy Louisiana submitted a revised filing that reflects an earned return on common equity of 10.38%, which is still within the earnings bandwidth, resulting in no cost of service rate change. The revised filing also indicates that an increase of $15.9 million should be reflected in the incremental capacity rider. The rate change was implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Louisiana submitted a revised evaluation report that reflects two items: 1) a $17 million reduction for the first-year capacity charges for the purchase by Entergy Gulf States Louisiana from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy, and 2) an $88 million increase for the first-year retail revenue requirement associated with the Waterford 3 replacement steam generator project, which was in-service in December 2012. These rate changes were implemented, subject to refund, effective with the first billing cycle of January 2013. In April 2013, Entergy Louisiana and the LPSC staff filed a joint report resolving the 2011 test year formula rate plan and recovery related to the Grand Gulf uprate. This report was approved by the LPSC in April 2013. With completion of the Waterford 3 replacement steam generator project, the LPSC is conducting a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs.  A procedural schedule for the prudence review has not yet been established. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in December 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. A new procedural schedule was established calling for an evidentiary hearing in December 2013. Entergy Louisiana submitted an opposed motion to modify the procedural schedule to allow for settlement negotiations, which are ongoing. The motion was granted and the evidentiary hearing has been rescheduled to occur in January 2014. | ||
Retail Rates - Gas (Entergy Gulf States Louisiana) | ||
           In January 2013, Entergy Gulf States Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2012. The filing showed an earned return on common equity of 11.18%, which resulted in a $43 thousand rate reduction. In March 2013 the LPSC Staff issued its proposed findings and recommended two adjustments. The first is to normalize property insurance expense, and the second is to modify the return on equity for gas operations to reflect the return on equity that ultimately is approved by the LPSC in the investigation previously initiated by the LPSC to review the return on equity for Louisiana gas utilities. Entergy Gulf States Louisiana and the LPSC Staff reached agreement regarding the LPSC Staff's proposed adjustments. As reflected in an unopposed joint report of proceedings filed by Entergy Gulf States Louisiana and the LPSC Staff on May 16, 2013, Entergy Gulf States Louisiana accepted, with modification, the LPSC Staff's proposed adjustment to property insurance expense and agreed to: (1) a three-year extension of the gas rate stabilization plan with a midpoint return on equity of 9.95%, with a first year midpoint reset; (2) dismissal of the docket initiated by the LPSC to evaluate the allowed return on equity for Entergy Gulf States Louisiana's gas rate stabilization plan; and (3) presentation to the LPSC by November 2014 by Entergy Gulf States Louisiana and the LPSC Staff of their recommendation for implementation of an infrastructure rider to recover expenditures associated with strategic plant investment. The LPSC approved the agreement in May 2013. | ||
Filings with the MPSC (Entergy Mississippi) | ||
Formula Rate Plan Filings | ||
           In March 2013, Entergy Mississippi submitted its formula rate plan 2012 test year filing. The filing requested a $36.3 million revenue increase to reset Entergy Mississippi's return on common equity to 10.55%, which is a point within the formula rate plan bandwidth. On June 6, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, in which both parties agreed that the MPSC should approve a $22.3 million rate increase for Entergy Mississippi which, with other adjustments reflected in the stipulation, would have the effect of resetting Entergy Mississippi's return on common equity to 10.59% when adjusted for performance under the formula rate plan. In August 2013 the MPSC approved the joint stipulation between Entergy Mississippi and the Mississippi Public Utilities Staff authorizing the rate increase effective with September 2013 bills. Additionally, the MPSC authorized Entergy Mississippi to defer approximately $1.2 million in MISO-related implementation costs incurred in 2012 along with other MISO-related implementation costs to be incurred in 2013. | ||
Filings with the City Council | ||
(Entergy Louisiana) | ||
           In March 2013, Entergy Louisiana filed a rate case for the Algiers area, which is in New Orleans and is regulated by the City Council. Entergy Louisiana is requesting a rate increase of $13 million over three years, including a 10.4% return on common equity and a formula rate plan mechanism identical to its LPSC request. Hearings are scheduled for April 2014. New rates are currently expected to become effective in second quarter 2014. | ||
(Entergy New Orleans) | ||
           As discussed in the Form 10-K, in May 2012, Entergy New Orleans filed its electric and gas formula rate plan evaluation reports for the 2011 test year.  In August 2013 the City Council unanimously approved a settlement of all issues in the formula rate plan proceeding. Pursuant to the terms of the settlement, Entergy New Orleans implemented an approximately $1.625 million net decrease to the electric rates that were in effect prior to the electric rate increase implemented in October 2012, with no change in gas rates. Entergy New Orleans is in the process of refunding to customers approximately $6.0 million over the four-month period from September 2013 through December 2013 to make the electric rate decrease effective as of the first billing cycle of October 2012. Entergy New Orleans had previously recorded provisions for the majority of the refund to customers, but recorded an additional $1.1 million provision in second quarter 2013 as a result of the settlement. | ||
Filings with the PUCT (Entergy Texas) | ||
2013 Rate Case | ||
           In September 2013, Entergy Texas filed a rate case requesting a $38.6 million base rate increase reflecting a 10.4% return on common equity based on an adjusted test year ending March 31, 2013. The rate case also proposed (1) a rough production cost equalization adjustment rider recovering Entergy Texas's payment to Entergy New Orleans to achieve rough production cost equalization based on calendar year 2012 production costs, (2) a rate case expense rider recovering the cost of the 2013 rate case and certain costs associated with previous rate cases, and (3) a transmission cost recovery factor rider recovering any differences in transmission costs and rate mitigation compared to those included in base rates to the extent the proposed spin-merge transaction with ITC Holdings Corp. is completed. The rate case filing also includes a request to reconcile $0.9 billion of fuel and purchased power costs and fuel revenues covering the period July 2011 through March 2013. The fuel reconciliation also reflects special circumstances fuel cost recovery of approximately $22 million of purchased power capacity costs. A procedural schedule has been set that includes staff testimony due in December 2013 and hearings in January 2014. If approved, new rates could go into effect as early as April 2014. | ||
System Agreement Cost Equalization Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceedings regarding the System Agreement. Following are updates to that discussion. | ||
Rough Production Cost Equalization Rates | ||
2007 Rate Filing Based on Calendar Year 2006 Production Costs | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued two orders related to this proceeding.  The first order provided clarification with regard to the derivation of the ratio that should be used to functionalize net operating loss carryforwards for purposes of the annual bandwidth filings. The second order denied Entergy's request for rehearing of the FERC's prior determination that interest should be included on recalculated payment and receipt amounts required in this particular proceeding due to the length of time that had passed. | ||
2008 Rate Filing Based on Calendar Year 2007 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In March 2013 the LPSC filed a petition for review with the U.S. Court of Appeals for the Fifth Circuit seeking appellate review of the FERC's earlier orders addressing the ALJ's initial decision. | ||
2009 Rate Filing Based on Calendar Year 2008 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In January 2013 the LPSC filed a protest of Entergy's July 2012 compliance filing submitted in response to the FERC's May 2012 order. On October 16, 2013, the FERC issued orders denying the LPSC's rehearing request with respect to the FERC's May 2012 order and addressing Entergy's compliance filing implementing the FERC's directives in the May 2012 order. The compliance filing order referred to guidance provided in a separate order issued on that same day in the 2007 rate proceeding with respect to the ratio used to functionalize net operating loss carryforwards for bandwidth purposes and directed Entergy to make an additional compliance filing in the 2009 rate proceeding consistent with the guidance provided in that order. | ||
2010 Rate Filing Based on Calendar Year 2009 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued an order granting clarification and denying rehearing with respect to its October 6, 2011 rehearing order in this proceeding.  The FERC clarified that in a bandwidth proceeding parties can challenge erroneous inputs, implementation errors, or prudence of cost inputs, but challenges to the bandwidth formula itself must be raised in a Federal Power Act section 206 complaint or section 205 filing.  On October 18, 2013, the presiding ALJ lifted the stay order holding in abeyance the hearing previously ordered by the FERC and directing that the remaining issues proceed to a hearing on the merits. | ||
It is probable that the October 2013 orders disclosed above will result in a reallocation of payments/receipts among the Utility operating companies to achieve production cost equalization as defined by the FERC orders. There is still significant uncertainty, however, as to the amount and allocation of these payments/receipts. This uncertainty relates to other pending orders associated with these rate filings, potential requests for further clarification from the FERC regarding the issued orders, and Entergy's legal strategy going forward. Any payments required by the Utility operating companies as a result of these rate filings are expected to be recoverable from customers, and any receipts are expected to be credited to customers. The effect of any such payments or receipts is not expected to be material to the results of operations, financial position or cash flows of Entergy or the Utility operating companies. | ||
2013 Rate Filing Based on Calendar Year 2012 Production Costs | ||
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Several parties intervened in the proceeding at the FERC, including the LPSC, which filed a protest as well. The City Council intervened and filed comments related to including the outcome of a related FERC proceeding in the 2013 cost equalization calculation. On August 31, 2013, FERC issued an order accepting the 2013 rates, effective June 1, 2013, subject to refund, set the proceeding for hearing procedures, and then held those procedures in abeyance pending FERC decisions in the prior production cost proceedings currently before the FERC on review. | ||
Interruptible Load Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceeding regarding the treatment under the System Agreement of the Utility operating companies' interruptible loads. On March 21, 2013, the FERC issued an order denying the LPSC's request for rehearing of the FERC's June 2011 order wherein the FERC concluded it would exercise its discretion and not order refunds in the interruptible load proceeding. Based on its review of the LPSC's request for rehearing and the briefs filed as part of the paper hearing established in October 2011, the FERC affirmed its earlier ruling and declined to order refunds under the circumstances of the case. On May 2, 2013, the LPSC filed a petition for review with the U.S. Court of Appeals for the D.C. Circuit seeking review of FERC's prior orders in the Interruptible Load Proceeding concluding that it would exercise its discretion and not order refunds in the proceeding. The appeal is pending. | ||
Storm Cost Recovery Filings with Retail Regulators | ||
Entergy Gulf States Louisiana and Entergy Louisiana | ||
Hurricane Isaac | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of Hurricane Isaac and the damage caused to portions of Entergy's service area in Louisiana. In January 2013, Entergy Gulf States Louisiana and Entergy Louisiana withdrew $65 million and $187 million, respectively, from their storm reserve escrow accounts. In April 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a joint application with the LPSC relating to Hurricane Isaac system restoration costs. Specifically, Entergy Gulf States Louisiana and Entergy Louisiana requested that the LPSC determine the amount of such costs that were prudently incurred and are, thus, eligible for recovery from customers. Including carrying costs and additional storm escrow funds, Entergy Gulf States Louisiana is seeking an LPSC determination that $73.8 million in system restoration costs were prudently incurred and Entergy Louisiana is seeking an LPSC determination that $247.7 million in system restoration costs were prudently incurred. Entergy Gulf States Louisiana and Entergy Louisiana intend to replenish their storm escrow accounts to $90 million and $200 million, respectively, primarily through traditional debt markets and have requested special rate treatment of any borrowings for that purpose. In May 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a supplemental application proposing a specific means to finance system restoration costs and related requests. Entergy Gulf States Louisiana and Entergy Louisiana are proposing to finance Hurricane Isaac restoration costs through Louisiana Act 55 financing, which was the same method they used for Hurricanes Katrina, Rita, Gustav, and Ike. | ||
The LPSC Staff filed direct testimony in September 2013 concluding that Hurricane Isaac system restoration costs incurred by Entergy Gulf States Louisiana and Entergy Louisiana were reasonable and prudent, subject to proposed minor adjustments which totaled approximately 1% of each company's costs. The LPSC Staff also supported the requests to re-establish storm reserves of $90 million for Entergy Gulf States Louisiana and $200Â million for Entergy Louisiana. One intervenor filed testimony recommending storm reserve levels of $70Â million for Entergy Gulf States Louisiana and $100 million for Entergy Louisiana, but takes no position on the prudence of the Hurricane Isaac system restoration costs. An evidentiary hearing is scheduled in December 2013, with an LPSC decision expected in 2014. | ||
Entergy Mississippi | ||
           On July 1, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, wherein both parties agreed that approximately $32 million in storm restoration costs incurred in 2011 and 2012 were prudently incurred and chargeable to the storm damage reserve, while approximately $700,000 in prudently incurred costs were more properly recoverable through the formula rate plan. Entergy Mississippi and the Mississippi Public Utilities Staff also agreed that the storm damage accrual should be increased from $750,000 per month to $1.75 million per month. In September 2013 the MPSC approved the joint stipulation with the increase in the storm damage accrual effective with October 2013 bills. | ||
Texas Power Price Lawsuit | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of the lawsuit filed in August 2003 in the district court of Chambers County, Texas by Texas residents on behalf of a purported class of the Texas retail customers of Entergy Gulf States, Inc. who were billed and paid for electric power from January 1, 1994 to the present. The case is pending in state district court, and in March 2012 the court found that the case met the requirements to be maintained as a class action under Texas law. In April 2012 the court entered an order certifying the class. The defendants have appealed the order to the Texas Court of Appeals – First District. The appeal is pending, and proceedings in district court are stayed until the appeal is resolved. Oral arguments before the court of appeals were conducted on April 23, 2013, and the matter awaits that court's decision. | ||
Entergy Arkansas Opportunity Sales Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the Entergy Arkansas opportunity sales proceeding. As required by the procedural schedule established in the calculation proceeding, Entergy filed its direct testimony that included a proposed illustrative re-run, consistent with the directives in FERC's order, of intra-system bills for 2003, 2004, and 2006, the three years with the highest volume of opportunity sales. Entergy's proposed illustrative re-run of intra-system bills shows that the potential cost for Entergy Arkansas would be up to $12 million for the years 2003, 2004, and 2006, and the potential benefit would be significantly less than that for each of the other Utility operating companies. Entergy's proposed illustrative re-run of the intra-system bills also shows an offsetting potential benefit to Entergy Arkansas for the years 2003, 2004, and 2006 resulting from the effects of the FERC's order on System Agreement Service Schedules MSS-1, MSS-2, and MSS-3, and the potential offsetting cost would be significantly less than that for each of the other Utility operating companies. Entergy provided to the LPSC an illustrative intra-system bill recalculation as specified by the LPSC for the years 2003, 2004, and 2006, and the LPSC then filed answering testimony in December 2012. In its testimony the LPSC claims that the damages that should be paid by Entergy Arkansas to the other Utility operating companies' customers for 2003, 2004, and 2006 are $42 million to Entergy Gulf States, Inc., $7 million to Entergy Louisiana, $23 million to Entergy Mississippi, and $4 million to Entergy New Orleans. The FERC staff and certain intervenors filed direct and answering testimony in February 2013. In April 2013, Entergy filed its rebuttal testimony in that proceeding, including a revised illustrative re-run of the intra-system bills for the years 2003, 2004, and 2006. The revised calculation determines the re-pricing of the opportunity sales based on consideration of moveable resources only and the removal of exchange energy received by Entergy Arkansas, which increases the potential cost for Entergy Arkansas over the three years 2003, 2004, and 2006 by $2.3 million from the potential costs identified in the Utility operating companies' prior filings in September and October 2012. A hearing was held in May 2013 to quantify the effect of repricing the opportunity sales in accordance with the FERC's decision. | ||
           In August 2013 the presiding judge issued an initial decision. The initial decision concludes that the methodology proposed by the LPSC, rather than the methodologies proposed by Entergy or the FERC Staff, should be used to calculate the payments that Entergy Arkansas is to make to the other Utility operating companies. The initial decision also concludes that the other System Agreement service schedules should not be adjusted and that payments by Entergy Arkansas should not be reflected in the rough production cost equalization bandwidth calculations for the applicable years. The initial decision does recognize that the LPSC's methodology would result in an inequitable windfall to the other Utility operating companies and, therefore, concludes that any payments by Entergy Arkansas should be reduced by 20%. The Utility operating companies are currently analyzing the effects of the initial decision. The initial decision and record in the case have been forwarded to the FERC for review. The LPSC, APSC, City Council, and FERC staff filed briefs on exceptions and/or briefs opposing exceptions. Entergy filed a brief on exceptions requesting that FERC reverse the initial decision and a brief opposing certain exceptions taken by the LPSC and FERC staff. The FERC's review of the initial decision is pending.  No payments will be made or received by the Utility operating companies until the FERC issues an order reviewing the initial decision and Entergy submits a subsequent filing to comply with that order. | ||
Entergy Gulf States Louisiana [Member] | ' | |
Rate And Regulatory Matters | ' | |
NOTE 2. RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||
Regulatory Assets | ||
           See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that information. | ||
Fuel and Purchased Power Cost Recovery | ||
Entergy Louisiana | ||
           In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana's fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC Staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million, plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana's fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. Two parties have intervened in the proceeding. A procedural schedule has been established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC Staff report and any issues raised by intervenors. One intervenor is seeking further proceedings regarding certain issues it raised in its comments on the LPSC Staff report. Entergy Louisiana has filed responses to both the LPSC Staff report and the issues raised by the intervenor. As required by the procedural schedule, a joint status report was submitted in October 2013 by the parties. That report requests that a status conference be convened by the ALJ to address open issues, including whether further proceedings will be required. A status conference has been scheduled for December 5, 2013. | ||
Entergy Texas | ||
           In November 2012, Entergy Texas filed a pleading seeking a PUCT finding that special circumstances exist for limited cost recovery of capacity costs associated with two purchased power agreements until such time that these costs are included in base rates or a purchased capacity recovery rider or other recovery mechanism. In March 2013 the PUCT Staff and intervenors filed a joint motion to dismiss Entergy Texas's application seeking special circumstances recovery of these capacity costs. Entergy Texas filed to withdraw this case without prejudice and the judge granted the request in June 2013. | ||
At the April 11, 2013 open meeting, the PUCT Commissioners discussed their view that a purchased power capacity rider was good public policy.  The PUCT issued an order on May 28, 2013 adopting the rule allowing for a purchased power capacity rider, subject to an offsetting adjustment for load growth. The rule, as adopted, also includes a process for obtaining pre-approval by the PUCT of purchased power agreements. Entergy Texas has not exercised the option to recover its capacity costs under the new rider mechanism due to the pending base rate case filed with the PUCT in September 2013, but will continue to evaluate the benefits of utilizing the new rider to recover future capacity costs. | ||
Retail Rate Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. | ||
Filings with the APSC (Entergy Arkansas) | ||
Retail Rates | ||
2013 Base Rate Filing | ||
           In March 2013, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. Recognizing that the final structure of Entergy Arkansas's transmission business has not been determined, the filing presents two alternative scenarios for the APSC to establish the appropriate level of rates for Entergy Arkansas. In the primary scenario, which assumes that Entergy Arkansas will transition to MISO in December 2013, Entergy Arkansas requests a rate increase of $174 million, including $49 million of revenue being transferred from collection in riders to base rates. The alternate scenario, which also assumes completion of the proposed spin-merge of the transmission business with ITC, reflects a $218 million total rate increase request. Both scenarios propose a new transmission rider and a capacity cost recovery rider. The filing requests a 10.4% return on common equity. In September 2013 Entergy Arkansas filed testimony reflecting an updated rate increase request of $145 million in the primary scenario, with no change to its requested return on common equity of 10.4%. Hearings in the proceeding began in October 2013, and an APSC decision is pending. New rates are expected to become effective by January 2014. | ||
Filings with the LPSC | ||
Retail Rates - Electric | ||
(Entergy Gulf States Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Gulf States Louisiana's formula rate plan. In May 2012, Entergy Gulf States Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected an 11.94% earned return on common equity, which is above the earnings bandwidth and would indicate a $6.5 million cost of service rate decrease was necessary under the formula rate plan. The filing also reflected a $22.9 million rate decrease for the incremental capacity rider. Subsequently, in August 2012, Entergy Gulf States Louisiana submitted a revised filing that reflected an earned return on common equity of 11.86% indicating a $5.7 million cost of service rate decrease is necessary under the formula rate plan. The revised filing also indicates that a reduction of $20.3 million should be reflected in the incremental capacity rider. The rate reductions were implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Gulf States Louisiana submitted a revised evaluation report that reflects expected retail jurisdictional cost of $16.9 million for the first-year capacity charges for the purchase from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy. This rate change was implemented effective with the first billing cycle of January 2013. The 2011 test year filings, as revised, were approved by the LPSC in February 2013. In April 2013, Entergy Gulf States Louisiana submitted a revised evaluation report increasing the incremental capacity rider by approximately $7.3 million to reflect the cost of an additional capacity contract. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Gulf States Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in November 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Gulf States Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. The base rate case is currently scheduled for an evidentiary hearing in February 2014. An extension of the deadline for the filing of the staff's and intervenors' testimony was granted to allow for settlement negotiations, which are ongoing. | ||
(Entergy Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Louisiana's formula rate plan. In May 2012, Entergy Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected a 9.63% earned return on common equity, which is within the earnings bandwidth and results in no cost of service rate change under the formula rate plan. The filing also reflected an $18.1 million rate increase for incremental capacity costs. In August 2012, Entergy Louisiana submitted a revised filing that reflects an earned return on common equity of 10.38%, which is still within the earnings bandwidth, resulting in no cost of service rate change. The revised filing also indicates that an increase of $15.9 million should be reflected in the incremental capacity rider. The rate change was implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Louisiana submitted a revised evaluation report that reflects two items: 1) a $17 million reduction for the first-year capacity charges for the purchase by Entergy Gulf States Louisiana from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy, and 2) an $88 million increase for the first-year retail revenue requirement associated with the Waterford 3 replacement steam generator project, which was in-service in December 2012. These rate changes were implemented, subject to refund, effective with the first billing cycle of January 2013. In April 2013, Entergy Louisiana and the LPSC staff filed a joint report resolving the 2011 test year formula rate plan and recovery related to the Grand Gulf uprate. This report was approved by the LPSC in April 2013. With completion of the Waterford 3 replacement steam generator project, the LPSC is conducting a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs.  A procedural schedule for the prudence review has not yet been established. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in December 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. A new procedural schedule was established calling for an evidentiary hearing in December 2013. Entergy Louisiana submitted an opposed motion to modify the procedural schedule to allow for settlement negotiations, which are ongoing. The motion was granted and the evidentiary hearing has been rescheduled to occur in January 2014. | ||
Retail Rates - Gas (Entergy Gulf States Louisiana) | ||
           In January 2013, Entergy Gulf States Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2012. The filing showed an earned return on common equity of 11.18%, which resulted in a $43 thousand rate reduction. In March 2013 the LPSC Staff issued its proposed findings and recommended two adjustments. The first is to normalize property insurance expense, and the second is to modify the return on equity for gas operations to reflect the return on equity that ultimately is approved by the LPSC in the investigation previously initiated by the LPSC to review the return on equity for Louisiana gas utilities. Entergy Gulf States Louisiana and the LPSC Staff reached agreement regarding the LPSC Staff's proposed adjustments. As reflected in an unopposed joint report of proceedings filed by Entergy Gulf States Louisiana and the LPSC Staff on May 16, 2013, Entergy Gulf States Louisiana accepted, with modification, the LPSC Staff's proposed adjustment to property insurance expense and agreed to: (1) a three-year extension of the gas rate stabilization plan with a midpoint return on equity of 9.95%, with a first year midpoint reset; (2) dismissal of the docket initiated by the LPSC to evaluate the allowed return on equity for Entergy Gulf States Louisiana's gas rate stabilization plan; and (3) presentation to the LPSC by November 2014 by Entergy Gulf States Louisiana and the LPSC Staff of their recommendation for implementation of an infrastructure rider to recover expenditures associated with strategic plant investment. The LPSC approved the agreement in May 2013. | ||
Filings with the MPSC (Entergy Mississippi) | ||
Formula Rate Plan Filings | ||
           In March 2013, Entergy Mississippi submitted its formula rate plan 2012 test year filing. The filing requested a $36.3 million revenue increase to reset Entergy Mississippi's return on common equity to 10.55%, which is a point within the formula rate plan bandwidth. On June 6, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, in which both parties agreed that the MPSC should approve a $22.3 million rate increase for Entergy Mississippi which, with other adjustments reflected in the stipulation, would have the effect of resetting Entergy Mississippi's return on common equity to 10.59% when adjusted for performance under the formula rate plan. In August 2013 the MPSC approved the joint stipulation between Entergy Mississippi and the Mississippi Public Utilities Staff authorizing the rate increase effective with September 2013 bills. Additionally, the MPSC authorized Entergy Mississippi to defer approximately $1.2 million in MISO-related implementation costs incurred in 2012 along with other MISO-related implementation costs to be incurred in 2013. | ||
Filings with the City Council | ||
(Entergy Louisiana) | ||
           In March 2013, Entergy Louisiana filed a rate case for the Algiers area, which is in New Orleans and is regulated by the City Council. Entergy Louisiana is requesting a rate increase of $13 million over three years, including a 10.4% return on common equity and a formula rate plan mechanism identical to its LPSC request. Hearings are scheduled for April 2014. New rates are currently expected to become effective in second quarter 2014. | ||
(Entergy New Orleans) | ||
           As discussed in the Form 10-K, in May 2012, Entergy New Orleans filed its electric and gas formula rate plan evaluation reports for the 2011 test year.  In August 2013 the City Council unanimously approved a settlement of all issues in the formula rate plan proceeding. Pursuant to the terms of the settlement, Entergy New Orleans implemented an approximately $1.625 million net decrease to the electric rates that were in effect prior to the electric rate increase implemented in October 2012, with no change in gas rates. Entergy New Orleans is in the process of refunding to customers approximately $6.0 million over the four-month period from September 2013 through December 2013 to make the electric rate decrease effective as of the first billing cycle of October 2012. Entergy New Orleans had previously recorded provisions for the majority of the refund to customers, but recorded an additional $1.1 million provision in second quarter 2013 as a result of the settlement. | ||
Filings with the PUCT (Entergy Texas) | ||
2013 Rate Case | ||
           In September 2013, Entergy Texas filed a rate case requesting a $38.6 million base rate increase reflecting a 10.4% return on common equity based on an adjusted test year ending March 31, 2013. The rate case also proposed (1) a rough production cost equalization adjustment rider recovering Entergy Texas's payment to Entergy New Orleans to achieve rough production cost equalization based on calendar year 2012 production costs, (2) a rate case expense rider recovering the cost of the 2013 rate case and certain costs associated with previous rate cases, and (3) a transmission cost recovery factor rider recovering any differences in transmission costs and rate mitigation compared to those included in base rates to the extent the proposed spin-merge transaction with ITC Holdings Corp. is completed. The rate case filing also includes a request to reconcile $0.9 billion of fuel and purchased power costs and fuel revenues covering the period July 2011 through March 2013. The fuel reconciliation also reflects special circumstances fuel cost recovery of approximately $22 million of purchased power capacity costs. A procedural schedule has been set that includes staff testimony due in December 2013 and hearings in January 2014. If approved, new rates could go into effect as early as April 2014. | ||
System Agreement Cost Equalization Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceedings regarding the System Agreement. Following are updates to that discussion. | ||
Rough Production Cost Equalization Rates | ||
2007 Rate Filing Based on Calendar Year 2006 Production Costs | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued two orders related to this proceeding.  The first order provided clarification with regard to the derivation of the ratio that should be used to functionalize net operating loss carryforwards for purposes of the annual bandwidth filings. The second order denied Entergy's request for rehearing of the FERC's prior determination that interest should be included on recalculated payment and receipt amounts required in this particular proceeding due to the length of time that had passed. | ||
2008 Rate Filing Based on Calendar Year 2007 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In March 2013 the LPSC filed a petition for review with the U.S. Court of Appeals for the Fifth Circuit seeking appellate review of the FERC's earlier orders addressing the ALJ's initial decision. | ||
2009 Rate Filing Based on Calendar Year 2008 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In January 2013 the LPSC filed a protest of Entergy's July 2012 compliance filing submitted in response to the FERC's May 2012 order. On October 16, 2013, the FERC issued orders denying the LPSC's rehearing request with respect to the FERC's May 2012 order and addressing Entergy's compliance filing implementing the FERC's directives in the May 2012 order. The compliance filing order referred to guidance provided in a separate order issued on that same day in the 2007 rate proceeding with respect to the ratio used to functionalize net operating loss carryforwards for bandwidth purposes and directed Entergy to make an additional compliance filing in the 2009 rate proceeding consistent with the guidance provided in that order. | ||
2010 Rate Filing Based on Calendar Year 2009 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued an order granting clarification and denying rehearing with respect to its October 6, 2011 rehearing order in this proceeding.  The FERC clarified that in a bandwidth proceeding parties can challenge erroneous inputs, implementation errors, or prudence of cost inputs, but challenges to the bandwidth formula itself must be raised in a Federal Power Act section 206 complaint or section 205 filing.  On October 18, 2013, the presiding ALJ lifted the stay order holding in abeyance the hearing previously ordered by the FERC and directing that the remaining issues proceed to a hearing on the merits. | ||
It is probable that the October 2013 orders disclosed above will result in a reallocation of payments/receipts among the Utility operating companies to achieve production cost equalization as defined by the FERC orders. There is still significant uncertainty, however, as to the amount and allocation of these payments/receipts. This uncertainty relates to other pending orders associated with these rate filings, potential requests for further clarification from the FERC regarding the issued orders, and Entergy's legal strategy going forward. Any payments required by the Utility operating companies as a result of these rate filings are expected to be recoverable from customers, and any receipts are expected to be credited to customers. The effect of any such payments or receipts is not expected to be material to the results of operations, financial position or cash flows of Entergy or the Utility operating companies. | ||
2013 Rate Filing Based on Calendar Year 2012 Production Costs | ||
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Several parties intervened in the proceeding at the FERC, including the LPSC, which filed a protest as well. The City Council intervened and filed comments related to including the outcome of a related FERC proceeding in the 2013 cost equalization calculation. On August 31, 2013, FERC issued an order accepting the 2013 rates, effective June 1, 2013, subject to refund, set the proceeding for hearing procedures, and then held those procedures in abeyance pending FERC decisions in the prior production cost proceedings currently before the FERC on review. | ||
Interruptible Load Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceeding regarding the treatment under the System Agreement of the Utility operating companies' interruptible loads. On March 21, 2013, the FERC issued an order denying the LPSC's request for rehearing of the FERC's June 2011 order wherein the FERC concluded it would exercise its discretion and not order refunds in the interruptible load proceeding. Based on its review of the LPSC's request for rehearing and the briefs filed as part of the paper hearing established in October 2011, the FERC affirmed its earlier ruling and declined to order refunds under the circumstances of the case. On May 2, 2013, the LPSC filed a petition for review with the U.S. Court of Appeals for the D.C. Circuit seeking review of FERC's prior orders in the Interruptible Load Proceeding concluding that it would exercise its discretion and not order refunds in the proceeding. The appeal is pending. | ||
Storm Cost Recovery Filings with Retail Regulators | ||
Entergy Gulf States Louisiana and Entergy Louisiana | ||
Hurricane Isaac | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of Hurricane Isaac and the damage caused to portions of Entergy's service area in Louisiana. In January 2013, Entergy Gulf States Louisiana and Entergy Louisiana withdrew $65 million and $187 million, respectively, from their storm reserve escrow accounts. In April 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a joint application with the LPSC relating to Hurricane Isaac system restoration costs. Specifically, Entergy Gulf States Louisiana and Entergy Louisiana requested that the LPSC determine the amount of such costs that were prudently incurred and are, thus, eligible for recovery from customers. Including carrying costs and additional storm escrow funds, Entergy Gulf States Louisiana is seeking an LPSC determination that $73.8 million in system restoration costs were prudently incurred and Entergy Louisiana is seeking an LPSC determination that $247.7 million in system restoration costs were prudently incurred. Entergy Gulf States Louisiana and Entergy Louisiana intend to replenish their storm escrow accounts to $90 million and $200 million, respectively, primarily through traditional debt markets and have requested special rate treatment of any borrowings for that purpose. In May 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a supplemental application proposing a specific means to finance system restoration costs and related requests. Entergy Gulf States Louisiana and Entergy Louisiana are proposing to finance Hurricane Isaac restoration costs through Louisiana Act 55 financing, which was the same method they used for Hurricanes Katrina, Rita, Gustav, and Ike. | ||
The LPSC Staff filed direct testimony in September 2013 concluding that Hurricane Isaac system restoration costs incurred by Entergy Gulf States Louisiana and Entergy Louisiana were reasonable and prudent, subject to proposed minor adjustments which totaled approximately 1% of each company's costs. The LPSC Staff also supported the requests to re-establish storm reserves of $90 million for Entergy Gulf States Louisiana and $200Â million for Entergy Louisiana. One intervenor filed testimony recommending storm reserve levels of $70Â million for Entergy Gulf States Louisiana and $100 million for Entergy Louisiana, but takes no position on the prudence of the Hurricane Isaac system restoration costs. An evidentiary hearing is scheduled in December 2013, with an LPSC decision expected in 2014. | ||
Entergy Mississippi | ||
           On July 1, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, wherein both parties agreed that approximately $32 million in storm restoration costs incurred in 2011 and 2012 were prudently incurred and chargeable to the storm damage reserve, while approximately $700,000 in prudently incurred costs were more properly recoverable through the formula rate plan. Entergy Mississippi and the Mississippi Public Utilities Staff also agreed that the storm damage accrual should be increased from $750,000 per month to $1.75 million per month. In September 2013 the MPSC approved the joint stipulation with the increase in the storm damage accrual effective with October 2013 bills. | ||
Texas Power Price Lawsuit | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of the lawsuit filed in August 2003 in the district court of Chambers County, Texas by Texas residents on behalf of a purported class of the Texas retail customers of Entergy Gulf States, Inc. who were billed and paid for electric power from January 1, 1994 to the present. The case is pending in state district court, and in March 2012 the court found that the case met the requirements to be maintained as a class action under Texas law. In April 2012 the court entered an order certifying the class. The defendants have appealed the order to the Texas Court of Appeals – First District. The appeal is pending, and proceedings in district court are stayed until the appeal is resolved. Oral arguments before the court of appeals were conducted on April 23, 2013, and the matter awaits that court's decision. | ||
Entergy Arkansas Opportunity Sales Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the Entergy Arkansas opportunity sales proceeding. As required by the procedural schedule established in the calculation proceeding, Entergy filed its direct testimony that included a proposed illustrative re-run, consistent with the directives in FERC's order, of intra-system bills for 2003, 2004, and 2006, the three years with the highest volume of opportunity sales. Entergy's proposed illustrative re-run of intra-system bills shows that the potential cost for Entergy Arkansas would be up to $12 million for the years 2003, 2004, and 2006, and the potential benefit would be significantly less than that for each of the other Utility operating companies. Entergy's proposed illustrative re-run of the intra-system bills also shows an offsetting potential benefit to Entergy Arkansas for the years 2003, 2004, and 2006 resulting from the effects of the FERC's order on System Agreement Service Schedules MSS-1, MSS-2, and MSS-3, and the potential offsetting cost would be significantly less than that for each of the other Utility operating companies. Entergy provided to the LPSC an illustrative intra-system bill recalculation as specified by the LPSC for the years 2003, 2004, and 2006, and the LPSC then filed answering testimony in December 2012. In its testimony the LPSC claims that the damages that should be paid by Entergy Arkansas to the other Utility operating companies' customers for 2003, 2004, and 2006 are $42 million to Entergy Gulf States, Inc., $7 million to Entergy Louisiana, $23 million to Entergy Mississippi, and $4 million to Entergy New Orleans. The FERC staff and certain intervenors filed direct and answering testimony in February 2013. In April 2013, Entergy filed its rebuttal testimony in that proceeding, including a revised illustrative re-run of the intra-system bills for the years 2003, 2004, and 2006. The revised calculation determines the re-pricing of the opportunity sales based on consideration of moveable resources only and the removal of exchange energy received by Entergy Arkansas, which increases the potential cost for Entergy Arkansas over the three years 2003, 2004, and 2006 by $2.3 million from the potential costs identified in the Utility operating companies' prior filings in September and October 2012. A hearing was held in May 2013 to quantify the effect of repricing the opportunity sales in accordance with the FERC's decision. | ||
           In August 2013 the presiding judge issued an initial decision. The initial decision concludes that the methodology proposed by the LPSC, rather than the methodologies proposed by Entergy or the FERC Staff, should be used to calculate the payments that Entergy Arkansas is to make to the other Utility operating companies. The initial decision also concludes that the other System Agreement service schedules should not be adjusted and that payments by Entergy Arkansas should not be reflected in the rough production cost equalization bandwidth calculations for the applicable years. The initial decision does recognize that the LPSC's methodology would result in an inequitable windfall to the other Utility operating companies and, therefore, concludes that any payments by Entergy Arkansas should be reduced by 20%. The Utility operating companies are currently analyzing the effects of the initial decision. The initial decision and record in the case have been forwarded to the FERC for review. The LPSC, APSC, City Council, and FERC staff filed briefs on exceptions and/or briefs opposing exceptions. Entergy filed a brief on exceptions requesting that FERC reverse the initial decision and a brief opposing certain exceptions taken by the LPSC and FERC staff. The FERC's review of the initial decision is pending.  No payments will be made or received by the Utility operating companies until the FERC issues an order reviewing the initial decision and Entergy submits a subsequent filing to comply with that order. | ||
Entergy Louisiana [Member] | ' | |
Rate And Regulatory Matters | ' | |
NOTE 2. RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||
Regulatory Assets | ||
           See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that information. | ||
Fuel and Purchased Power Cost Recovery | ||
Entergy Louisiana | ||
           In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana's fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC Staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million, plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana's fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. Two parties have intervened in the proceeding. A procedural schedule has been established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC Staff report and any issues raised by intervenors. One intervenor is seeking further proceedings regarding certain issues it raised in its comments on the LPSC Staff report. Entergy Louisiana has filed responses to both the LPSC Staff report and the issues raised by the intervenor. As required by the procedural schedule, a joint status report was submitted in October 2013 by the parties. That report requests that a status conference be convened by the ALJ to address open issues, including whether further proceedings will be required. A status conference has been scheduled for December 5, 2013. | ||
Entergy Texas | ||
           In November 2012, Entergy Texas filed a pleading seeking a PUCT finding that special circumstances exist for limited cost recovery of capacity costs associated with two purchased power agreements until such time that these costs are included in base rates or a purchased capacity recovery rider or other recovery mechanism. In March 2013 the PUCT Staff and intervenors filed a joint motion to dismiss Entergy Texas's application seeking special circumstances recovery of these capacity costs. Entergy Texas filed to withdraw this case without prejudice and the judge granted the request in June 2013. | ||
At the April 11, 2013 open meeting, the PUCT Commissioners discussed their view that a purchased power capacity rider was good public policy.  The PUCT issued an order on May 28, 2013 adopting the rule allowing for a purchased power capacity rider, subject to an offsetting adjustment for load growth. The rule, as adopted, also includes a process for obtaining pre-approval by the PUCT of purchased power agreements. Entergy Texas has not exercised the option to recover its capacity costs under the new rider mechanism due to the pending base rate case filed with the PUCT in September 2013, but will continue to evaluate the benefits of utilizing the new rider to recover future capacity costs. | ||
Retail Rate Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. | ||
Filings with the APSC (Entergy Arkansas) | ||
Retail Rates | ||
2013 Base Rate Filing | ||
           In March 2013, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. Recognizing that the final structure of Entergy Arkansas's transmission business has not been determined, the filing presents two alternative scenarios for the APSC to establish the appropriate level of rates for Entergy Arkansas. In the primary scenario, which assumes that Entergy Arkansas will transition to MISO in December 2013, Entergy Arkansas requests a rate increase of $174 million, including $49 million of revenue being transferred from collection in riders to base rates. The alternate scenario, which also assumes completion of the proposed spin-merge of the transmission business with ITC, reflects a $218 million total rate increase request. Both scenarios propose a new transmission rider and a capacity cost recovery rider. The filing requests a 10.4% return on common equity. In September 2013 Entergy Arkansas filed testimony reflecting an updated rate increase request of $145 million in the primary scenario, with no change to its requested return on common equity of 10.4%. Hearings in the proceeding began in October 2013, and an APSC decision is pending. New rates are expected to become effective by January 2014. | ||
Filings with the LPSC | ||
Retail Rates - Electric | ||
(Entergy Gulf States Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Gulf States Louisiana's formula rate plan. In May 2012, Entergy Gulf States Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected an 11.94% earned return on common equity, which is above the earnings bandwidth and would indicate a $6.5 million cost of service rate decrease was necessary under the formula rate plan. The filing also reflected a $22.9 million rate decrease for the incremental capacity rider. Subsequently, in August 2012, Entergy Gulf States Louisiana submitted a revised filing that reflected an earned return on common equity of 11.86% indicating a $5.7 million cost of service rate decrease is necessary under the formula rate plan. The revised filing also indicates that a reduction of $20.3 million should be reflected in the incremental capacity rider. The rate reductions were implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Gulf States Louisiana submitted a revised evaluation report that reflects expected retail jurisdictional cost of $16.9 million for the first-year capacity charges for the purchase from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy. This rate change was implemented effective with the first billing cycle of January 2013. The 2011 test year filings, as revised, were approved by the LPSC in February 2013. In April 2013, Entergy Gulf States Louisiana submitted a revised evaluation report increasing the incremental capacity rider by approximately $7.3 million to reflect the cost of an additional capacity contract. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Gulf States Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in November 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Gulf States Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. The base rate case is currently scheduled for an evidentiary hearing in February 2014. An extension of the deadline for the filing of the staff's and intervenors' testimony was granted to allow for settlement negotiations, which are ongoing. | ||
(Entergy Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Louisiana's formula rate plan. In May 2012, Entergy Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected a 9.63% earned return on common equity, which is within the earnings bandwidth and results in no cost of service rate change under the formula rate plan. The filing also reflected an $18.1 million rate increase for incremental capacity costs. In August 2012, Entergy Louisiana submitted a revised filing that reflects an earned return on common equity of 10.38%, which is still within the earnings bandwidth, resulting in no cost of service rate change. The revised filing also indicates that an increase of $15.9 million should be reflected in the incremental capacity rider. The rate change was implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Louisiana submitted a revised evaluation report that reflects two items: 1) a $17 million reduction for the first-year capacity charges for the purchase by Entergy Gulf States Louisiana from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy, and 2) an $88 million increase for the first-year retail revenue requirement associated with the Waterford 3 replacement steam generator project, which was in-service in December 2012. These rate changes were implemented, subject to refund, effective with the first billing cycle of January 2013. In April 2013, Entergy Louisiana and the LPSC staff filed a joint report resolving the 2011 test year formula rate plan and recovery related to the Grand Gulf uprate. This report was approved by the LPSC in April 2013. With completion of the Waterford 3 replacement steam generator project, the LPSC is conducting a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs.  A procedural schedule for the prudence review has not yet been established. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in December 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. A new procedural schedule was established calling for an evidentiary hearing in December 2013. Entergy Louisiana submitted an opposed motion to modify the procedural schedule to allow for settlement negotiations, which are ongoing. The motion was granted and the evidentiary hearing has been rescheduled to occur in January 2014. | ||
Retail Rates - Gas (Entergy Gulf States Louisiana) | ||
           In January 2013, Entergy Gulf States Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2012. The filing showed an earned return on common equity of 11.18%, which resulted in a $43 thousand rate reduction. In March 2013 the LPSC Staff issued its proposed findings and recommended two adjustments. The first is to normalize property insurance expense, and the second is to modify the return on equity for gas operations to reflect the return on equity that ultimately is approved by the LPSC in the investigation previously initiated by the LPSC to review the return on equity for Louisiana gas utilities. Entergy Gulf States Louisiana and the LPSC Staff reached agreement regarding the LPSC Staff's proposed adjustments. As reflected in an unopposed joint report of proceedings filed by Entergy Gulf States Louisiana and the LPSC Staff on May 16, 2013, Entergy Gulf States Louisiana accepted, with modification, the LPSC Staff's proposed adjustment to property insurance expense and agreed to: (1) a three-year extension of the gas rate stabilization plan with a midpoint return on equity of 9.95%, with a first year midpoint reset; (2) dismissal of the docket initiated by the LPSC to evaluate the allowed return on equity for Entergy Gulf States Louisiana's gas rate stabilization plan; and (3) presentation to the LPSC by November 2014 by Entergy Gulf States Louisiana and the LPSC Staff of their recommendation for implementation of an infrastructure rider to recover expenditures associated with strategic plant investment. The LPSC approved the agreement in May 2013. | ||
Filings with the MPSC (Entergy Mississippi) | ||
Formula Rate Plan Filings | ||
           In March 2013, Entergy Mississippi submitted its formula rate plan 2012 test year filing. The filing requested a $36.3 million revenue increase to reset Entergy Mississippi's return on common equity to 10.55%, which is a point within the formula rate plan bandwidth. On June 6, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, in which both parties agreed that the MPSC should approve a $22.3 million rate increase for Entergy Mississippi which, with other adjustments reflected in the stipulation, would have the effect of resetting Entergy Mississippi's return on common equity to 10.59% when adjusted for performance under the formula rate plan. In August 2013 the MPSC approved the joint stipulation between Entergy Mississippi and the Mississippi Public Utilities Staff authorizing the rate increase effective with September 2013 bills. Additionally, the MPSC authorized Entergy Mississippi to defer approximately $1.2 million in MISO-related implementation costs incurred in 2012 along with other MISO-related implementation costs to be incurred in 2013. | ||
Filings with the City Council | ||
(Entergy Louisiana) | ||
           In March 2013, Entergy Louisiana filed a rate case for the Algiers area, which is in New Orleans and is regulated by the City Council. Entergy Louisiana is requesting a rate increase of $13 million over three years, including a 10.4% return on common equity and a formula rate plan mechanism identical to its LPSC request. Hearings are scheduled for April 2014. New rates are currently expected to become effective in second quarter 2014. | ||
(Entergy New Orleans) | ||
           As discussed in the Form 10-K, in May 2012, Entergy New Orleans filed its electric and gas formula rate plan evaluation reports for the 2011 test year.  In August 2013 the City Council unanimously approved a settlement of all issues in the formula rate plan proceeding. Pursuant to the terms of the settlement, Entergy New Orleans implemented an approximately $1.625 million net decrease to the electric rates that were in effect prior to the electric rate increase implemented in October 2012, with no change in gas rates. Entergy New Orleans is in the process of refunding to customers approximately $6.0 million over the four-month period from September 2013 through December 2013 to make the electric rate decrease effective as of the first billing cycle of October 2012. Entergy New Orleans had previously recorded provisions for the majority of the refund to customers, but recorded an additional $1.1 million provision in second quarter 2013 as a result of the settlement. | ||
Filings with the PUCT (Entergy Texas) | ||
2013 Rate Case | ||
           In September 2013, Entergy Texas filed a rate case requesting a $38.6 million base rate increase reflecting a 10.4% return on common equity based on an adjusted test year ending March 31, 2013. The rate case also proposed (1) a rough production cost equalization adjustment rider recovering Entergy Texas's payment to Entergy New Orleans to achieve rough production cost equalization based on calendar year 2012 production costs, (2) a rate case expense rider recovering the cost of the 2013 rate case and certain costs associated with previous rate cases, and (3) a transmission cost recovery factor rider recovering any differences in transmission costs and rate mitigation compared to those included in base rates to the extent the proposed spin-merge transaction with ITC Holdings Corp. is completed. The rate case filing also includes a request to reconcile $0.9 billion of fuel and purchased power costs and fuel revenues covering the period July 2011 through March 2013. The fuel reconciliation also reflects special circumstances fuel cost recovery of approximately $22 million of purchased power capacity costs. A procedural schedule has been set that includes staff testimony due in December 2013 and hearings in January 2014. If approved, new rates could go into effect as early as April 2014. | ||
System Agreement Cost Equalization Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceedings regarding the System Agreement. Following are updates to that discussion. | ||
Rough Production Cost Equalization Rates | ||
2007 Rate Filing Based on Calendar Year 2006 Production Costs | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued two orders related to this proceeding.  The first order provided clarification with regard to the derivation of the ratio that should be used to functionalize net operating loss carryforwards for purposes of the annual bandwidth filings. The second order denied Entergy's request for rehearing of the FERC's prior determination that interest should be included on recalculated payment and receipt amounts required in this particular proceeding due to the length of time that had passed. | ||
2008 Rate Filing Based on Calendar Year 2007 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In March 2013 the LPSC filed a petition for review with the U.S. Court of Appeals for the Fifth Circuit seeking appellate review of the FERC's earlier orders addressing the ALJ's initial decision. | ||
2009 Rate Filing Based on Calendar Year 2008 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In January 2013 the LPSC filed a protest of Entergy's July 2012 compliance filing submitted in response to the FERC's May 2012 order. On October 16, 2013, the FERC issued orders denying the LPSC's rehearing request with respect to the FERC's May 2012 order and addressing Entergy's compliance filing implementing the FERC's directives in the May 2012 order. The compliance filing order referred to guidance provided in a separate order issued on that same day in the 2007 rate proceeding with respect to the ratio used to functionalize net operating loss carryforwards for bandwidth purposes and directed Entergy to make an additional compliance filing in the 2009 rate proceeding consistent with the guidance provided in that order. | ||
2010 Rate Filing Based on Calendar Year 2009 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued an order granting clarification and denying rehearing with respect to its October 6, 2011 rehearing order in this proceeding.  The FERC clarified that in a bandwidth proceeding parties can challenge erroneous inputs, implementation errors, or prudence of cost inputs, but challenges to the bandwidth formula itself must be raised in a Federal Power Act section 206 complaint or section 205 filing.  On October 18, 2013, the presiding ALJ lifted the stay order holding in abeyance the hearing previously ordered by the FERC and directing that the remaining issues proceed to a hearing on the merits. | ||
It is probable that the October 2013 orders disclosed above will result in a reallocation of payments/receipts among the Utility operating companies to achieve production cost equalization as defined by the FERC orders. There is still significant uncertainty, however, as to the amount and allocation of these payments/receipts. This uncertainty relates to other pending orders associated with these rate filings, potential requests for further clarification from the FERC regarding the issued orders, and Entergy's legal strategy going forward. Any payments required by the Utility operating companies as a result of these rate filings are expected to be recoverable from customers, and any receipts are expected to be credited to customers. The effect of any such payments or receipts is not expected to be material to the results of operations, financial position or cash flows of Entergy or the Utility operating companies. | ||
2013 Rate Filing Based on Calendar Year 2012 Production Costs | ||
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Several parties intervened in the proceeding at the FERC, including the LPSC, which filed a protest as well. The City Council intervened and filed comments related to including the outcome of a related FERC proceeding in the 2013 cost equalization calculation. On August 31, 2013, FERC issued an order accepting the 2013 rates, effective June 1, 2013, subject to refund, set the proceeding for hearing procedures, and then held those procedures in abeyance pending FERC decisions in the prior production cost proceedings currently before the FERC on review. | ||
Interruptible Load Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceeding regarding the treatment under the System Agreement of the Utility operating companies' interruptible loads. On March 21, 2013, the FERC issued an order denying the LPSC's request for rehearing of the FERC's June 2011 order wherein the FERC concluded it would exercise its discretion and not order refunds in the interruptible load proceeding. Based on its review of the LPSC's request for rehearing and the briefs filed as part of the paper hearing established in October 2011, the FERC affirmed its earlier ruling and declined to order refunds under the circumstances of the case. On May 2, 2013, the LPSC filed a petition for review with the U.S. Court of Appeals for the D.C. Circuit seeking review of FERC's prior orders in the Interruptible Load Proceeding concluding that it would exercise its discretion and not order refunds in the proceeding. The appeal is pending. | ||
Storm Cost Recovery Filings with Retail Regulators | ||
Entergy Gulf States Louisiana and Entergy Louisiana | ||
Hurricane Isaac | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of Hurricane Isaac and the damage caused to portions of Entergy's service area in Louisiana. In January 2013, Entergy Gulf States Louisiana and Entergy Louisiana withdrew $65 million and $187 million, respectively, from their storm reserve escrow accounts. In April 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a joint application with the LPSC relating to Hurricane Isaac system restoration costs. Specifically, Entergy Gulf States Louisiana and Entergy Louisiana requested that the LPSC determine the amount of such costs that were prudently incurred and are, thus, eligible for recovery from customers. Including carrying costs and additional storm escrow funds, Entergy Gulf States Louisiana is seeking an LPSC determination that $73.8 million in system restoration costs were prudently incurred and Entergy Louisiana is seeking an LPSC determination that $247.7 million in system restoration costs were prudently incurred. Entergy Gulf States Louisiana and Entergy Louisiana intend to replenish their storm escrow accounts to $90 million and $200 million, respectively, primarily through traditional debt markets and have requested special rate treatment of any borrowings for that purpose. In May 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a supplemental application proposing a specific means to finance system restoration costs and related requests. Entergy Gulf States Louisiana and Entergy Louisiana are proposing to finance Hurricane Isaac restoration costs through Louisiana Act 55 financing, which was the same method they used for Hurricanes Katrina, Rita, Gustav, and Ike. | ||
The LPSC Staff filed direct testimony in September 2013 concluding that Hurricane Isaac system restoration costs incurred by Entergy Gulf States Louisiana and Entergy Louisiana were reasonable and prudent, subject to proposed minor adjustments which totaled approximately 1% of each company's costs. The LPSC Staff also supported the requests to re-establish storm reserves of $90 million for Entergy Gulf States Louisiana and $200Â million for Entergy Louisiana. One intervenor filed testimony recommending storm reserve levels of $70Â million for Entergy Gulf States Louisiana and $100 million for Entergy Louisiana, but takes no position on the prudence of the Hurricane Isaac system restoration costs. An evidentiary hearing is scheduled in December 2013, with an LPSC decision expected in 2014. | ||
Entergy Mississippi | ||
           On July 1, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, wherein both parties agreed that approximately $32 million in storm restoration costs incurred in 2011 and 2012 were prudently incurred and chargeable to the storm damage reserve, while approximately $700,000 in prudently incurred costs were more properly recoverable through the formula rate plan. Entergy Mississippi and the Mississippi Public Utilities Staff also agreed that the storm damage accrual should be increased from $750,000 per month to $1.75 million per month. In September 2013 the MPSC approved the joint stipulation with the increase in the storm damage accrual effective with October 2013 bills. | ||
Texas Power Price Lawsuit | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of the lawsuit filed in August 2003 in the district court of Chambers County, Texas by Texas residents on behalf of a purported class of the Texas retail customers of Entergy Gulf States, Inc. who were billed and paid for electric power from January 1, 1994 to the present. The case is pending in state district court, and in March 2012 the court found that the case met the requirements to be maintained as a class action under Texas law. In April 2012 the court entered an order certifying the class. The defendants have appealed the order to the Texas Court of Appeals – First District. The appeal is pending, and proceedings in district court are stayed until the appeal is resolved. Oral arguments before the court of appeals were conducted on April 23, 2013, and the matter awaits that court's decision. | ||
Entergy Arkansas Opportunity Sales Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the Entergy Arkansas opportunity sales proceeding. As required by the procedural schedule established in the calculation proceeding, Entergy filed its direct testimony that included a proposed illustrative re-run, consistent with the directives in FERC's order, of intra-system bills for 2003, 2004, and 2006, the three years with the highest volume of opportunity sales. Entergy's proposed illustrative re-run of intra-system bills shows that the potential cost for Entergy Arkansas would be up to $12 million for the years 2003, 2004, and 2006, and the potential benefit would be significantly less than that for each of the other Utility operating companies. Entergy's proposed illustrative re-run of the intra-system bills also shows an offsetting potential benefit to Entergy Arkansas for the years 2003, 2004, and 2006 resulting from the effects of the FERC's order on System Agreement Service Schedules MSS-1, MSS-2, and MSS-3, and the potential offsetting cost would be significantly less than that for each of the other Utility operating companies. Entergy provided to the LPSC an illustrative intra-system bill recalculation as specified by the LPSC for the years 2003, 2004, and 2006, and the LPSC then filed answering testimony in December 2012. In its testimony the LPSC claims that the damages that should be paid by Entergy Arkansas to the other Utility operating companies' customers for 2003, 2004, and 2006 are $42 million to Entergy Gulf States, Inc., $7 million to Entergy Louisiana, $23 million to Entergy Mississippi, and $4 million to Entergy New Orleans. The FERC staff and certain intervenors filed direct and answering testimony in February 2013. In April 2013, Entergy filed its rebuttal testimony in that proceeding, including a revised illustrative re-run of the intra-system bills for the years 2003, 2004, and 2006. The revised calculation determines the re-pricing of the opportunity sales based on consideration of moveable resources only and the removal of exchange energy received by Entergy Arkansas, which increases the potential cost for Entergy Arkansas over the three years 2003, 2004, and 2006 by $2.3 million from the potential costs identified in the Utility operating companies' prior filings in September and October 2012. A hearing was held in May 2013 to quantify the effect of repricing the opportunity sales in accordance with the FERC's decision. | ||
           In August 2013 the presiding judge issued an initial decision. The initial decision concludes that the methodology proposed by the LPSC, rather than the methodologies proposed by Entergy or the FERC Staff, should be used to calculate the payments that Entergy Arkansas is to make to the other Utility operating companies. The initial decision also concludes that the other System Agreement service schedules should not be adjusted and that payments by Entergy Arkansas should not be reflected in the rough production cost equalization bandwidth calculations for the applicable years. The initial decision does recognize that the LPSC's methodology would result in an inequitable windfall to the other Utility operating companies and, therefore, concludes that any payments by Entergy Arkansas should be reduced by 20%. The Utility operating companies are currently analyzing the effects of the initial decision. The initial decision and record in the case have been forwarded to the FERC for review. The LPSC, APSC, City Council, and FERC staff filed briefs on exceptions and/or briefs opposing exceptions. Entergy filed a brief on exceptions requesting that FERC reverse the initial decision and a brief opposing certain exceptions taken by the LPSC and FERC staff. The FERC's review of the initial decision is pending.  No payments will be made or received by the Utility operating companies until the FERC issues an order reviewing the initial decision and Entergy submits a subsequent filing to comply with that order. | ||
Entergy Mississippi [Member] | ' | |
Rate And Regulatory Matters | ' | |
NOTE 2. RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||
Regulatory Assets | ||
           See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that information. | ||
Fuel and Purchased Power Cost Recovery | ||
Entergy Louisiana | ||
           In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana's fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC Staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million, plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana's fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. Two parties have intervened in the proceeding. A procedural schedule has been established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC Staff report and any issues raised by intervenors. One intervenor is seeking further proceedings regarding certain issues it raised in its comments on the LPSC Staff report. Entergy Louisiana has filed responses to both the LPSC Staff report and the issues raised by the intervenor. As required by the procedural schedule, a joint status report was submitted in October 2013 by the parties. That report requests that a status conference be convened by the ALJ to address open issues, including whether further proceedings will be required. A status conference has been scheduled for December 5, 2013. | ||
Entergy Texas | ||
           In November 2012, Entergy Texas filed a pleading seeking a PUCT finding that special circumstances exist for limited cost recovery of capacity costs associated with two purchased power agreements until such time that these costs are included in base rates or a purchased capacity recovery rider or other recovery mechanism. In March 2013 the PUCT Staff and intervenors filed a joint motion to dismiss Entergy Texas's application seeking special circumstances recovery of these capacity costs. Entergy Texas filed to withdraw this case without prejudice and the judge granted the request in June 2013. | ||
At the April 11, 2013 open meeting, the PUCT Commissioners discussed their view that a purchased power capacity rider was good public policy.  The PUCT issued an order on May 28, 2013 adopting the rule allowing for a purchased power capacity rider, subject to an offsetting adjustment for load growth. The rule, as adopted, also includes a process for obtaining pre-approval by the PUCT of purchased power agreements. Entergy Texas has not exercised the option to recover its capacity costs under the new rider mechanism due to the pending base rate case filed with the PUCT in September 2013, but will continue to evaluate the benefits of utilizing the new rider to recover future capacity costs. | ||
Retail Rate Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. | ||
Filings with the APSC (Entergy Arkansas) | ||
Retail Rates | ||
2013 Base Rate Filing | ||
           In March 2013, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. Recognizing that the final structure of Entergy Arkansas's transmission business has not been determined, the filing presents two alternative scenarios for the APSC to establish the appropriate level of rates for Entergy Arkansas. In the primary scenario, which assumes that Entergy Arkansas will transition to MISO in December 2013, Entergy Arkansas requests a rate increase of $174 million, including $49 million of revenue being transferred from collection in riders to base rates. The alternate scenario, which also assumes completion of the proposed spin-merge of the transmission business with ITC, reflects a $218 million total rate increase request. Both scenarios propose a new transmission rider and a capacity cost recovery rider. The filing requests a 10.4% return on common equity. In September 2013 Entergy Arkansas filed testimony reflecting an updated rate increase request of $145 million in the primary scenario, with no change to its requested return on common equity of 10.4%. Hearings in the proceeding began in October 2013, and an APSC decision is pending. New rates are expected to become effective by January 2014. | ||
Filings with the LPSC | ||
Retail Rates - Electric | ||
(Entergy Gulf States Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Gulf States Louisiana's formula rate plan. In May 2012, Entergy Gulf States Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected an 11.94% earned return on common equity, which is above the earnings bandwidth and would indicate a $6.5 million cost of service rate decrease was necessary under the formula rate plan. The filing also reflected a $22.9 million rate decrease for the incremental capacity rider. Subsequently, in August 2012, Entergy Gulf States Louisiana submitted a revised filing that reflected an earned return on common equity of 11.86% indicating a $5.7 million cost of service rate decrease is necessary under the formula rate plan. The revised filing also indicates that a reduction of $20.3 million should be reflected in the incremental capacity rider. The rate reductions were implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Gulf States Louisiana submitted a revised evaluation report that reflects expected retail jurisdictional cost of $16.9 million for the first-year capacity charges for the purchase from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy. This rate change was implemented effective with the first billing cycle of January 2013. The 2011 test year filings, as revised, were approved by the LPSC in February 2013. In April 2013, Entergy Gulf States Louisiana submitted a revised evaluation report increasing the incremental capacity rider by approximately $7.3 million to reflect the cost of an additional capacity contract. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Gulf States Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in November 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Gulf States Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. The base rate case is currently scheduled for an evidentiary hearing in February 2014. An extension of the deadline for the filing of the staff's and intervenors' testimony was granted to allow for settlement negotiations, which are ongoing. | ||
(Entergy Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Louisiana's formula rate plan. In May 2012, Entergy Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected a 9.63% earned return on common equity, which is within the earnings bandwidth and results in no cost of service rate change under the formula rate plan. The filing also reflected an $18.1 million rate increase for incremental capacity costs. In August 2012, Entergy Louisiana submitted a revised filing that reflects an earned return on common equity of 10.38%, which is still within the earnings bandwidth, resulting in no cost of service rate change. The revised filing also indicates that an increase of $15.9 million should be reflected in the incremental capacity rider. The rate change was implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Louisiana submitted a revised evaluation report that reflects two items: 1) a $17 million reduction for the first-year capacity charges for the purchase by Entergy Gulf States Louisiana from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy, and 2) an $88 million increase for the first-year retail revenue requirement associated with the Waterford 3 replacement steam generator project, which was in-service in December 2012. These rate changes were implemented, subject to refund, effective with the first billing cycle of January 2013. In April 2013, Entergy Louisiana and the LPSC staff filed a joint report resolving the 2011 test year formula rate plan and recovery related to the Grand Gulf uprate. This report was approved by the LPSC in April 2013. With completion of the Waterford 3 replacement steam generator project, the LPSC is conducting a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs.  A procedural schedule for the prudence review has not yet been established. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in December 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. A new procedural schedule was established calling for an evidentiary hearing in December 2013. Entergy Louisiana submitted an opposed motion to modify the procedural schedule to allow for settlement negotiations, which are ongoing. The motion was granted and the evidentiary hearing has been rescheduled to occur in January 2014. | ||
Retail Rates - Gas (Entergy Gulf States Louisiana) | ||
           In January 2013, Entergy Gulf States Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2012. The filing showed an earned return on common equity of 11.18%, which resulted in a $43 thousand rate reduction. In March 2013 the LPSC Staff issued its proposed findings and recommended two adjustments. The first is to normalize property insurance expense, and the second is to modify the return on equity for gas operations to reflect the return on equity that ultimately is approved by the LPSC in the investigation previously initiated by the LPSC to review the return on equity for Louisiana gas utilities. Entergy Gulf States Louisiana and the LPSC Staff reached agreement regarding the LPSC Staff's proposed adjustments. As reflected in an unopposed joint report of proceedings filed by Entergy Gulf States Louisiana and the LPSC Staff on May 16, 2013, Entergy Gulf States Louisiana accepted, with modification, the LPSC Staff's proposed adjustment to property insurance expense and agreed to: (1) a three-year extension of the gas rate stabilization plan with a midpoint return on equity of 9.95%, with a first year midpoint reset; (2) dismissal of the docket initiated by the LPSC to evaluate the allowed return on equity for Entergy Gulf States Louisiana's gas rate stabilization plan; and (3) presentation to the LPSC by November 2014 by Entergy Gulf States Louisiana and the LPSC Staff of their recommendation for implementation of an infrastructure rider to recover expenditures associated with strategic plant investment. The LPSC approved the agreement in May 2013. | ||
Filings with the MPSC (Entergy Mississippi) | ||
Formula Rate Plan Filings | ||
           In March 2013, Entergy Mississippi submitted its formula rate plan 2012 test year filing. The filing requested a $36.3 million revenue increase to reset Entergy Mississippi's return on common equity to 10.55%, which is a point within the formula rate plan bandwidth. On June 6, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, in which both parties agreed that the MPSC should approve a $22.3 million rate increase for Entergy Mississippi which, with other adjustments reflected in the stipulation, would have the effect of resetting Entergy Mississippi's return on common equity to 10.59% when adjusted for performance under the formula rate plan. In August 2013 the MPSC approved the joint stipulation between Entergy Mississippi and the Mississippi Public Utilities Staff authorizing the rate increase effective with September 2013 bills. Additionally, the MPSC authorized Entergy Mississippi to defer approximately $1.2 million in MISO-related implementation costs incurred in 2012 along with other MISO-related implementation costs to be incurred in 2013. | ||
Filings with the City Council | ||
(Entergy Louisiana) | ||
           In March 2013, Entergy Louisiana filed a rate case for the Algiers area, which is in New Orleans and is regulated by the City Council. Entergy Louisiana is requesting a rate increase of $13 million over three years, including a 10.4% return on common equity and a formula rate plan mechanism identical to its LPSC request. Hearings are scheduled for April 2014. New rates are currently expected to become effective in second quarter 2014. | ||
(Entergy New Orleans) | ||
           As discussed in the Form 10-K, in May 2012, Entergy New Orleans filed its electric and gas formula rate plan evaluation reports for the 2011 test year.  In August 2013 the City Council unanimously approved a settlement of all issues in the formula rate plan proceeding. Pursuant to the terms of the settlement, Entergy New Orleans implemented an approximately $1.625 million net decrease to the electric rates that were in effect prior to the electric rate increase implemented in October 2012, with no change in gas rates. Entergy New Orleans is in the process of refunding to customers approximately $6.0 million over the four-month period from September 2013 through December 2013 to make the electric rate decrease effective as of the first billing cycle of October 2012. Entergy New Orleans had previously recorded provisions for the majority of the refund to customers, but recorded an additional $1.1 million provision in second quarter 2013 as a result of the settlement. | ||
Filings with the PUCT (Entergy Texas) | ||
2013 Rate Case | ||
           In September 2013, Entergy Texas filed a rate case requesting a $38.6 million base rate increase reflecting a 10.4% return on common equity based on an adjusted test year ending March 31, 2013. The rate case also proposed (1) a rough production cost equalization adjustment rider recovering Entergy Texas's payment to Entergy New Orleans to achieve rough production cost equalization based on calendar year 2012 production costs, (2) a rate case expense rider recovering the cost of the 2013 rate case and certain costs associated with previous rate cases, and (3) a transmission cost recovery factor rider recovering any differences in transmission costs and rate mitigation compared to those included in base rates to the extent the proposed spin-merge transaction with ITC Holdings Corp. is completed. The rate case filing also includes a request to reconcile $0.9 billion of fuel and purchased power costs and fuel revenues covering the period July 2011 through March 2013. The fuel reconciliation also reflects special circumstances fuel cost recovery of approximately $22 million of purchased power capacity costs. A procedural schedule has been set that includes staff testimony due in December 2013 and hearings in January 2014. If approved, new rates could go into effect as early as April 2014. | ||
System Agreement Cost Equalization Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceedings regarding the System Agreement. Following are updates to that discussion. | ||
Rough Production Cost Equalization Rates | ||
2007 Rate Filing Based on Calendar Year 2006 Production Costs | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued two orders related to this proceeding.  The first order provided clarification with regard to the derivation of the ratio that should be used to functionalize net operating loss carryforwards for purposes of the annual bandwidth filings. The second order denied Entergy's request for rehearing of the FERC's prior determination that interest should be included on recalculated payment and receipt amounts required in this particular proceeding due to the length of time that had passed. | ||
2008 Rate Filing Based on Calendar Year 2007 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In March 2013 the LPSC filed a petition for review with the U.S. Court of Appeals for the Fifth Circuit seeking appellate review of the FERC's earlier orders addressing the ALJ's initial decision. | ||
2009 Rate Filing Based on Calendar Year 2008 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In January 2013 the LPSC filed a protest of Entergy's July 2012 compliance filing submitted in response to the FERC's May 2012 order. On October 16, 2013, the FERC issued orders denying the LPSC's rehearing request with respect to the FERC's May 2012 order and addressing Entergy's compliance filing implementing the FERC's directives in the May 2012 order. The compliance filing order referred to guidance provided in a separate order issued on that same day in the 2007 rate proceeding with respect to the ratio used to functionalize net operating loss carryforwards for bandwidth purposes and directed Entergy to make an additional compliance filing in the 2009 rate proceeding consistent with the guidance provided in that order. | ||
2010 Rate Filing Based on Calendar Year 2009 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued an order granting clarification and denying rehearing with respect to its October 6, 2011 rehearing order in this proceeding.  The FERC clarified that in a bandwidth proceeding parties can challenge erroneous inputs, implementation errors, or prudence of cost inputs, but challenges to the bandwidth formula itself must be raised in a Federal Power Act section 206 complaint or section 205 filing.  On October 18, 2013, the presiding ALJ lifted the stay order holding in abeyance the hearing previously ordered by the FERC and directing that the remaining issues proceed to a hearing on the merits. | ||
It is probable that the October 2013 orders disclosed above will result in a reallocation of payments/receipts among the Utility operating companies to achieve production cost equalization as defined by the FERC orders. There is still significant uncertainty, however, as to the amount and allocation of these payments/receipts. This uncertainty relates to other pending orders associated with these rate filings, potential requests for further clarification from the FERC regarding the issued orders, and Entergy's legal strategy going forward. Any payments required by the Utility operating companies as a result of these rate filings are expected to be recoverable from customers, and any receipts are expected to be credited to customers. The effect of any such payments or receipts is not expected to be material to the results of operations, financial position or cash flows of Entergy or the Utility operating companies. | ||
2013 Rate Filing Based on Calendar Year 2012 Production Costs | ||
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Several parties intervened in the proceeding at the FERC, including the LPSC, which filed a protest as well. The City Council intervened and filed comments related to including the outcome of a related FERC proceeding in the 2013 cost equalization calculation. On August 31, 2013, FERC issued an order accepting the 2013 rates, effective June 1, 2013, subject to refund, set the proceeding for hearing procedures, and then held those procedures in abeyance pending FERC decisions in the prior production cost proceedings currently before the FERC on review. | ||
Interruptible Load Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceeding regarding the treatment under the System Agreement of the Utility operating companies' interruptible loads. On March 21, 2013, the FERC issued an order denying the LPSC's request for rehearing of the FERC's June 2011 order wherein the FERC concluded it would exercise its discretion and not order refunds in the interruptible load proceeding. Based on its review of the LPSC's request for rehearing and the briefs filed as part of the paper hearing established in October 2011, the FERC affirmed its earlier ruling and declined to order refunds under the circumstances of the case. On May 2, 2013, the LPSC filed a petition for review with the U.S. Court of Appeals for the D.C. Circuit seeking review of FERC's prior orders in the Interruptible Load Proceeding concluding that it would exercise its discretion and not order refunds in the proceeding. The appeal is pending. | ||
Storm Cost Recovery Filings with Retail Regulators | ||
Entergy Gulf States Louisiana and Entergy Louisiana | ||
Hurricane Isaac | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of Hurricane Isaac and the damage caused to portions of Entergy's service area in Louisiana. In January 2013, Entergy Gulf States Louisiana and Entergy Louisiana withdrew $65 million and $187 million, respectively, from their storm reserve escrow accounts. In April 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a joint application with the LPSC relating to Hurricane Isaac system restoration costs. Specifically, Entergy Gulf States Louisiana and Entergy Louisiana requested that the LPSC determine the amount of such costs that were prudently incurred and are, thus, eligible for recovery from customers. Including carrying costs and additional storm escrow funds, Entergy Gulf States Louisiana is seeking an LPSC determination that $73.8 million in system restoration costs were prudently incurred and Entergy Louisiana is seeking an LPSC determination that $247.7 million in system restoration costs were prudently incurred. Entergy Gulf States Louisiana and Entergy Louisiana intend to replenish their storm escrow accounts to $90 million and $200 million, respectively, primarily through traditional debt markets and have requested special rate treatment of any borrowings for that purpose. In May 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a supplemental application proposing a specific means to finance system restoration costs and related requests. Entergy Gulf States Louisiana and Entergy Louisiana are proposing to finance Hurricane Isaac restoration costs through Louisiana Act 55 financing, which was the same method they used for Hurricanes Katrina, Rita, Gustav, and Ike. | ||
The LPSC Staff filed direct testimony in September 2013 concluding that Hurricane Isaac system restoration costs incurred by Entergy Gulf States Louisiana and Entergy Louisiana were reasonable and prudent, subject to proposed minor adjustments which totaled approximately 1% of each company's costs. The LPSC Staff also supported the requests to re-establish storm reserves of $90 million for Entergy Gulf States Louisiana and $200Â million for Entergy Louisiana. One intervenor filed testimony recommending storm reserve levels of $70Â million for Entergy Gulf States Louisiana and $100 million for Entergy Louisiana, but takes no position on the prudence of the Hurricane Isaac system restoration costs. An evidentiary hearing is scheduled in December 2013, with an LPSC decision expected in 2014. | ||
Entergy Mississippi | ||
           On July 1, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, wherein both parties agreed that approximately $32 million in storm restoration costs incurred in 2011 and 2012 were prudently incurred and chargeable to the storm damage reserve, while approximately $700,000 in prudently incurred costs were more properly recoverable through the formula rate plan. Entergy Mississippi and the Mississippi Public Utilities Staff also agreed that the storm damage accrual should be increased from $750,000 per month to $1.75 million per month. In September 2013 the MPSC approved the joint stipulation with the increase in the storm damage accrual effective with October 2013 bills. | ||
Texas Power Price Lawsuit | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of the lawsuit filed in August 2003 in the district court of Chambers County, Texas by Texas residents on behalf of a purported class of the Texas retail customers of Entergy Gulf States, Inc. who were billed and paid for electric power from January 1, 1994 to the present. The case is pending in state district court, and in March 2012 the court found that the case met the requirements to be maintained as a class action under Texas law. In April 2012 the court entered an order certifying the class. The defendants have appealed the order to the Texas Court of Appeals – First District. The appeal is pending, and proceedings in district court are stayed until the appeal is resolved. Oral arguments before the court of appeals were conducted on April 23, 2013, and the matter awaits that court's decision. | ||
Entergy Arkansas Opportunity Sales Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the Entergy Arkansas opportunity sales proceeding. As required by the procedural schedule established in the calculation proceeding, Entergy filed its direct testimony that included a proposed illustrative re-run, consistent with the directives in FERC's order, of intra-system bills for 2003, 2004, and 2006, the three years with the highest volume of opportunity sales. Entergy's proposed illustrative re-run of intra-system bills shows that the potential cost for Entergy Arkansas would be up to $12 million for the years 2003, 2004, and 2006, and the potential benefit would be significantly less than that for each of the other Utility operating companies. Entergy's proposed illustrative re-run of the intra-system bills also shows an offsetting potential benefit to Entergy Arkansas for the years 2003, 2004, and 2006 resulting from the effects of the FERC's order on System Agreement Service Schedules MSS-1, MSS-2, and MSS-3, and the potential offsetting cost would be significantly less than that for each of the other Utility operating companies. Entergy provided to the LPSC an illustrative intra-system bill recalculation as specified by the LPSC for the years 2003, 2004, and 2006, and the LPSC then filed answering testimony in December 2012. In its testimony the LPSC claims that the damages that should be paid by Entergy Arkansas to the other Utility operating companies' customers for 2003, 2004, and 2006 are $42 million to Entergy Gulf States, Inc., $7 million to Entergy Louisiana, $23 million to Entergy Mississippi, and $4 million to Entergy New Orleans. The FERC staff and certain intervenors filed direct and answering testimony in February 2013. In April 2013, Entergy filed its rebuttal testimony in that proceeding, including a revised illustrative re-run of the intra-system bills for the years 2003, 2004, and 2006. The revised calculation determines the re-pricing of the opportunity sales based on consideration of moveable resources only and the removal of exchange energy received by Entergy Arkansas, which increases the potential cost for Entergy Arkansas over the three years 2003, 2004, and 2006 by $2.3 million from the potential costs identified in the Utility operating companies' prior filings in September and October 2012. A hearing was held in May 2013 to quantify the effect of repricing the opportunity sales in accordance with the FERC's decision. | ||
           In August 2013 the presiding judge issued an initial decision. The initial decision concludes that the methodology proposed by the LPSC, rather than the methodologies proposed by Entergy or the FERC Staff, should be used to calculate the payments that Entergy Arkansas is to make to the other Utility operating companies. The initial decision also concludes that the other System Agreement service schedules should not be adjusted and that payments by Entergy Arkansas should not be reflected in the rough production cost equalization bandwidth calculations for the applicable years. The initial decision does recognize that the LPSC's methodology would result in an inequitable windfall to the other Utility operating companies and, therefore, concludes that any payments by Entergy Arkansas should be reduced by 20%. The Utility operating companies are currently analyzing the effects of the initial decision. The initial decision and record in the case have been forwarded to the FERC for review. The LPSC, APSC, City Council, and FERC staff filed briefs on exceptions and/or briefs opposing exceptions. Entergy filed a brief on exceptions requesting that FERC reverse the initial decision and a brief opposing certain exceptions taken by the LPSC and FERC staff. The FERC's review of the initial decision is pending.  No payments will be made or received by the Utility operating companies until the FERC issues an order reviewing the initial decision and Entergy submits a subsequent filing to comply with that order. | ||
Entergy New Orleans | ' | |
Rate And Regulatory Matters | ' | |
NOTE 2. RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||
Regulatory Assets | ||
           See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that information. | ||
Fuel and Purchased Power Cost Recovery | ||
Entergy Louisiana | ||
           In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana's fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC Staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million, plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana's fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. Two parties have intervened in the proceeding. A procedural schedule has been established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC Staff report and any issues raised by intervenors. One intervenor is seeking further proceedings regarding certain issues it raised in its comments on the LPSC Staff report. Entergy Louisiana has filed responses to both the LPSC Staff report and the issues raised by the intervenor. As required by the procedural schedule, a joint status report was submitted in October 2013 by the parties. That report requests that a status conference be convened by the ALJ to address open issues, including whether further proceedings will be required. A status conference has been scheduled for December 5, 2013. | ||
Entergy Texas | ||
           In November 2012, Entergy Texas filed a pleading seeking a PUCT finding that special circumstances exist for limited cost recovery of capacity costs associated with two purchased power agreements until such time that these costs are included in base rates or a purchased capacity recovery rider or other recovery mechanism. In March 2013 the PUCT Staff and intervenors filed a joint motion to dismiss Entergy Texas's application seeking special circumstances recovery of these capacity costs. Entergy Texas filed to withdraw this case without prejudice and the judge granted the request in June 2013. | ||
At the April 11, 2013 open meeting, the PUCT Commissioners discussed their view that a purchased power capacity rider was good public policy.  The PUCT issued an order on May 28, 2013 adopting the rule allowing for a purchased power capacity rider, subject to an offsetting adjustment for load growth. The rule, as adopted, also includes a process for obtaining pre-approval by the PUCT of purchased power agreements. Entergy Texas has not exercised the option to recover its capacity costs under the new rider mechanism due to the pending base rate case filed with the PUCT in September 2013, but will continue to evaluate the benefits of utilizing the new rider to recover future capacity costs. | ||
Retail Rate Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. | ||
Filings with the APSC (Entergy Arkansas) | ||
Retail Rates | ||
2013 Base Rate Filing | ||
           In March 2013, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. Recognizing that the final structure of Entergy Arkansas's transmission business has not been determined, the filing presents two alternative scenarios for the APSC to establish the appropriate level of rates for Entergy Arkansas. In the primary scenario, which assumes that Entergy Arkansas will transition to MISO in December 2013, Entergy Arkansas requests a rate increase of $174 million, including $49 million of revenue being transferred from collection in riders to base rates. The alternate scenario, which also assumes completion of the proposed spin-merge of the transmission business with ITC, reflects a $218 million total rate increase request. Both scenarios propose a new transmission rider and a capacity cost recovery rider. The filing requests a 10.4% return on common equity. In September 2013 Entergy Arkansas filed testimony reflecting an updated rate increase request of $145 million in the primary scenario, with no change to its requested return on common equity of 10.4%. Hearings in the proceeding began in October 2013, and an APSC decision is pending. New rates are expected to become effective by January 2014. | ||
Filings with the LPSC | ||
Retail Rates - Electric | ||
(Entergy Gulf States Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Gulf States Louisiana's formula rate plan. In May 2012, Entergy Gulf States Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected an 11.94% earned return on common equity, which is above the earnings bandwidth and would indicate a $6.5 million cost of service rate decrease was necessary under the formula rate plan. The filing also reflected a $22.9 million rate decrease for the incremental capacity rider. Subsequently, in August 2012, Entergy Gulf States Louisiana submitted a revised filing that reflected an earned return on common equity of 11.86% indicating a $5.7 million cost of service rate decrease is necessary under the formula rate plan. The revised filing also indicates that a reduction of $20.3 million should be reflected in the incremental capacity rider. The rate reductions were implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Gulf States Louisiana submitted a revised evaluation report that reflects expected retail jurisdictional cost of $16.9 million for the first-year capacity charges for the purchase from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy. This rate change was implemented effective with the first billing cycle of January 2013. The 2011 test year filings, as revised, were approved by the LPSC in February 2013. In April 2013, Entergy Gulf States Louisiana submitted a revised evaluation report increasing the incremental capacity rider by approximately $7.3 million to reflect the cost of an additional capacity contract. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Gulf States Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in November 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Gulf States Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. The base rate case is currently scheduled for an evidentiary hearing in February 2014. An extension of the deadline for the filing of the staff's and intervenors' testimony was granted to allow for settlement negotiations, which are ongoing. | ||
(Entergy Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Louisiana's formula rate plan. In May 2012, Entergy Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected a 9.63% earned return on common equity, which is within the earnings bandwidth and results in no cost of service rate change under the formula rate plan. The filing also reflected an $18.1 million rate increase for incremental capacity costs. In August 2012, Entergy Louisiana submitted a revised filing that reflects an earned return on common equity of 10.38%, which is still within the earnings bandwidth, resulting in no cost of service rate change. The revised filing also indicates that an increase of $15.9 million should be reflected in the incremental capacity rider. The rate change was implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Louisiana submitted a revised evaluation report that reflects two items: 1) a $17 million reduction for the first-year capacity charges for the purchase by Entergy Gulf States Louisiana from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy, and 2) an $88 million increase for the first-year retail revenue requirement associated with the Waterford 3 replacement steam generator project, which was in-service in December 2012. These rate changes were implemented, subject to refund, effective with the first billing cycle of January 2013. In April 2013, Entergy Louisiana and the LPSC staff filed a joint report resolving the 2011 test year formula rate plan and recovery related to the Grand Gulf uprate. This report was approved by the LPSC in April 2013. With completion of the Waterford 3 replacement steam generator project, the LPSC is conducting a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs.  A procedural schedule for the prudence review has not yet been established. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in December 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. A new procedural schedule was established calling for an evidentiary hearing in December 2013. Entergy Louisiana submitted an opposed motion to modify the procedural schedule to allow for settlement negotiations, which are ongoing. The motion was granted and the evidentiary hearing has been rescheduled to occur in January 2014. | ||
Retail Rates - Gas (Entergy Gulf States Louisiana) | ||
           In January 2013, Entergy Gulf States Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2012. The filing showed an earned return on common equity of 11.18%, which resulted in a $43 thousand rate reduction. In March 2013 the LPSC Staff issued its proposed findings and recommended two adjustments. The first is to normalize property insurance expense, and the second is to modify the return on equity for gas operations to reflect the return on equity that ultimately is approved by the LPSC in the investigation previously initiated by the LPSC to review the return on equity for Louisiana gas utilities. Entergy Gulf States Louisiana and the LPSC Staff reached agreement regarding the LPSC Staff's proposed adjustments. As reflected in an unopposed joint report of proceedings filed by Entergy Gulf States Louisiana and the LPSC Staff on May 16, 2013, Entergy Gulf States Louisiana accepted, with modification, the LPSC Staff's proposed adjustment to property insurance expense and agreed to: (1) a three-year extension of the gas rate stabilization plan with a midpoint return on equity of 9.95%, with a first year midpoint reset; (2) dismissal of the docket initiated by the LPSC to evaluate the allowed return on equity for Entergy Gulf States Louisiana's gas rate stabilization plan; and (3) presentation to the LPSC by November 2014 by Entergy Gulf States Louisiana and the LPSC Staff of their recommendation for implementation of an infrastructure rider to recover expenditures associated with strategic plant investment. The LPSC approved the agreement in May 2013. | ||
Filings with the MPSC (Entergy Mississippi) | ||
Formula Rate Plan Filings | ||
           In March 2013, Entergy Mississippi submitted its formula rate plan 2012 test year filing. The filing requested a $36.3 million revenue increase to reset Entergy Mississippi's return on common equity to 10.55%, which is a point within the formula rate plan bandwidth. On June 6, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, in which both parties agreed that the MPSC should approve a $22.3 million rate increase for Entergy Mississippi which, with other adjustments reflected in the stipulation, would have the effect of resetting Entergy Mississippi's return on common equity to 10.59% when adjusted for performance under the formula rate plan. In August 2013 the MPSC approved the joint stipulation between Entergy Mississippi and the Mississippi Public Utilities Staff authorizing the rate increase effective with September 2013 bills. Additionally, the MPSC authorized Entergy Mississippi to defer approximately $1.2 million in MISO-related implementation costs incurred in 2012 along with other MISO-related implementation costs to be incurred in 2013. | ||
Filings with the City Council | ||
(Entergy Louisiana) | ||
           In March 2013, Entergy Louisiana filed a rate case for the Algiers area, which is in New Orleans and is regulated by the City Council. Entergy Louisiana is requesting a rate increase of $13 million over three years, including a 10.4% return on common equity and a formula rate plan mechanism identical to its LPSC request. Hearings are scheduled for April 2014. New rates are currently expected to become effective in second quarter 2014. | ||
(Entergy New Orleans) | ||
           As discussed in the Form 10-K, in May 2012, Entergy New Orleans filed its electric and gas formula rate plan evaluation reports for the 2011 test year.  In August 2013 the City Council unanimously approved a settlement of all issues in the formula rate plan proceeding. Pursuant to the terms of the settlement, Entergy New Orleans implemented an approximately $1.625 million net decrease to the electric rates that were in effect prior to the electric rate increase implemented in October 2012, with no change in gas rates. Entergy New Orleans is in the process of refunding to customers approximately $6.0 million over the four-month period from September 2013 through December 2013 to make the electric rate decrease effective as of the first billing cycle of October 2012. Entergy New Orleans had previously recorded provisions for the majority of the refund to customers, but recorded an additional $1.1 million provision in second quarter 2013 as a result of the settlement. | ||
Filings with the PUCT (Entergy Texas) | ||
2013 Rate Case | ||
           In September 2013, Entergy Texas filed a rate case requesting a $38.6 million base rate increase reflecting a 10.4% return on common equity based on an adjusted test year ending March 31, 2013. The rate case also proposed (1) a rough production cost equalization adjustment rider recovering Entergy Texas's payment to Entergy New Orleans to achieve rough production cost equalization based on calendar year 2012 production costs, (2) a rate case expense rider recovering the cost of the 2013 rate case and certain costs associated with previous rate cases, and (3) a transmission cost recovery factor rider recovering any differences in transmission costs and rate mitigation compared to those included in base rates to the extent the proposed spin-merge transaction with ITC Holdings Corp. is completed. The rate case filing also includes a request to reconcile $0.9 billion of fuel and purchased power costs and fuel revenues covering the period July 2011 through March 2013. The fuel reconciliation also reflects special circumstances fuel cost recovery of approximately $22 million of purchased power capacity costs. A procedural schedule has been set that includes staff testimony due in December 2013 and hearings in January 2014. If approved, new rates could go into effect as early as April 2014. | ||
System Agreement Cost Equalization Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceedings regarding the System Agreement. Following are updates to that discussion. | ||
Rough Production Cost Equalization Rates | ||
2007 Rate Filing Based on Calendar Year 2006 Production Costs | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued two orders related to this proceeding.  The first order provided clarification with regard to the derivation of the ratio that should be used to functionalize net operating loss carryforwards for purposes of the annual bandwidth filings. The second order denied Entergy's request for rehearing of the FERC's prior determination that interest should be included on recalculated payment and receipt amounts required in this particular proceeding due to the length of time that had passed. | ||
2008 Rate Filing Based on Calendar Year 2007 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In March 2013 the LPSC filed a petition for review with the U.S. Court of Appeals for the Fifth Circuit seeking appellate review of the FERC's earlier orders addressing the ALJ's initial decision. | ||
2009 Rate Filing Based on Calendar Year 2008 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In January 2013 the LPSC filed a protest of Entergy's July 2012 compliance filing submitted in response to the FERC's May 2012 order. On October 16, 2013, the FERC issued orders denying the LPSC's rehearing request with respect to the FERC's May 2012 order and addressing Entergy's compliance filing implementing the FERC's directives in the May 2012 order. The compliance filing order referred to guidance provided in a separate order issued on that same day in the 2007 rate proceeding with respect to the ratio used to functionalize net operating loss carryforwards for bandwidth purposes and directed Entergy to make an additional compliance filing in the 2009 rate proceeding consistent with the guidance provided in that order. | ||
2010 Rate Filing Based on Calendar Year 2009 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued an order granting clarification and denying rehearing with respect to its October 6, 2011 rehearing order in this proceeding.  The FERC clarified that in a bandwidth proceeding parties can challenge erroneous inputs, implementation errors, or prudence of cost inputs, but challenges to the bandwidth formula itself must be raised in a Federal Power Act section 206 complaint or section 205 filing.  On October 18, 2013, the presiding ALJ lifted the stay order holding in abeyance the hearing previously ordered by the FERC and directing that the remaining issues proceed to a hearing on the merits. | ||
It is probable that the October 2013 orders disclosed above will result in a reallocation of payments/receipts among the Utility operating companies to achieve production cost equalization as defined by the FERC orders. There is still significant uncertainty, however, as to the amount and allocation of these payments/receipts. This uncertainty relates to other pending orders associated with these rate filings, potential requests for further clarification from the FERC regarding the issued orders, and Entergy's legal strategy going forward. Any payments required by the Utility operating companies as a result of these rate filings are expected to be recoverable from customers, and any receipts are expected to be credited to customers. The effect of any such payments or receipts is not expected to be material to the results of operations, financial position or cash flows of Entergy or the Utility operating companies. | ||
2013 Rate Filing Based on Calendar Year 2012 Production Costs | ||
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Several parties intervened in the proceeding at the FERC, including the LPSC, which filed a protest as well. The City Council intervened and filed comments related to including the outcome of a related FERC proceeding in the 2013 cost equalization calculation. On August 31, 2013, FERC issued an order accepting the 2013 rates, effective June 1, 2013, subject to refund, set the proceeding for hearing procedures, and then held those procedures in abeyance pending FERC decisions in the prior production cost proceedings currently before the FERC on review. | ||
Interruptible Load Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceeding regarding the treatment under the System Agreement of the Utility operating companies' interruptible loads. On March 21, 2013, the FERC issued an order denying the LPSC's request for rehearing of the FERC's June 2011 order wherein the FERC concluded it would exercise its discretion and not order refunds in the interruptible load proceeding. Based on its review of the LPSC's request for rehearing and the briefs filed as part of the paper hearing established in October 2011, the FERC affirmed its earlier ruling and declined to order refunds under the circumstances of the case. On May 2, 2013, the LPSC filed a petition for review with the U.S. Court of Appeals for the D.C. Circuit seeking review of FERC's prior orders in the Interruptible Load Proceeding concluding that it would exercise its discretion and not order refunds in the proceeding. The appeal is pending. | ||
Storm Cost Recovery Filings with Retail Regulators | ||
Entergy Gulf States Louisiana and Entergy Louisiana | ||
Hurricane Isaac | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of Hurricane Isaac and the damage caused to portions of Entergy's service area in Louisiana. In January 2013, Entergy Gulf States Louisiana and Entergy Louisiana withdrew $65 million and $187 million, respectively, from their storm reserve escrow accounts. In April 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a joint application with the LPSC relating to Hurricane Isaac system restoration costs. Specifically, Entergy Gulf States Louisiana and Entergy Louisiana requested that the LPSC determine the amount of such costs that were prudently incurred and are, thus, eligible for recovery from customers. Including carrying costs and additional storm escrow funds, Entergy Gulf States Louisiana is seeking an LPSC determination that $73.8 million in system restoration costs were prudently incurred and Entergy Louisiana is seeking an LPSC determination that $247.7 million in system restoration costs were prudently incurred. Entergy Gulf States Louisiana and Entergy Louisiana intend to replenish their storm escrow accounts to $90 million and $200 million, respectively, primarily through traditional debt markets and have requested special rate treatment of any borrowings for that purpose. In May 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a supplemental application proposing a specific means to finance system restoration costs and related requests. Entergy Gulf States Louisiana and Entergy Louisiana are proposing to finance Hurricane Isaac restoration costs through Louisiana Act 55 financing, which was the same method they used for Hurricanes Katrina, Rita, Gustav, and Ike. | ||
The LPSC Staff filed direct testimony in September 2013 concluding that Hurricane Isaac system restoration costs incurred by Entergy Gulf States Louisiana and Entergy Louisiana were reasonable and prudent, subject to proposed minor adjustments which totaled approximately 1% of each company's costs. The LPSC Staff also supported the requests to re-establish storm reserves of $90 million for Entergy Gulf States Louisiana and $200Â million for Entergy Louisiana. One intervenor filed testimony recommending storm reserve levels of $70Â million for Entergy Gulf States Louisiana and $100 million for Entergy Louisiana, but takes no position on the prudence of the Hurricane Isaac system restoration costs. An evidentiary hearing is scheduled in December 2013, with an LPSC decision expected in 2014. | ||
Entergy Mississippi | ||
           On July 1, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, wherein both parties agreed that approximately $32 million in storm restoration costs incurred in 2011 and 2012 were prudently incurred and chargeable to the storm damage reserve, while approximately $700,000 in prudently incurred costs were more properly recoverable through the formula rate plan. Entergy Mississippi and the Mississippi Public Utilities Staff also agreed that the storm damage accrual should be increased from $750,000 per month to $1.75 million per month. In September 2013 the MPSC approved the joint stipulation with the increase in the storm damage accrual effective with October 2013 bills. | ||
Texas Power Price Lawsuit | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of the lawsuit filed in August 2003 in the district court of Chambers County, Texas by Texas residents on behalf of a purported class of the Texas retail customers of Entergy Gulf States, Inc. who were billed and paid for electric power from January 1, 1994 to the present. The case is pending in state district court, and in March 2012 the court found that the case met the requirements to be maintained as a class action under Texas law. In April 2012 the court entered an order certifying the class. The defendants have appealed the order to the Texas Court of Appeals – First District. The appeal is pending, and proceedings in district court are stayed until the appeal is resolved. Oral arguments before the court of appeals were conducted on April 23, 2013, and the matter awaits that court's decision. | ||
Entergy Arkansas Opportunity Sales Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the Entergy Arkansas opportunity sales proceeding. As required by the procedural schedule established in the calculation proceeding, Entergy filed its direct testimony that included a proposed illustrative re-run, consistent with the directives in FERC's order, of intra-system bills for 2003, 2004, and 2006, the three years with the highest volume of opportunity sales. Entergy's proposed illustrative re-run of intra-system bills shows that the potential cost for Entergy Arkansas would be up to $12 million for the years 2003, 2004, and 2006, and the potential benefit would be significantly less than that for each of the other Utility operating companies. Entergy's proposed illustrative re-run of the intra-system bills also shows an offsetting potential benefit to Entergy Arkansas for the years 2003, 2004, and 2006 resulting from the effects of the FERC's order on System Agreement Service Schedules MSS-1, MSS-2, and MSS-3, and the potential offsetting cost would be significantly less than that for each of the other Utility operating companies. Entergy provided to the LPSC an illustrative intra-system bill recalculation as specified by the LPSC for the years 2003, 2004, and 2006, and the LPSC then filed answering testimony in December 2012. In its testimony the LPSC claims that the damages that should be paid by Entergy Arkansas to the other Utility operating companies' customers for 2003, 2004, and 2006 are $42 million to Entergy Gulf States, Inc., $7 million to Entergy Louisiana, $23 million to Entergy Mississippi, and $4 million to Entergy New Orleans. The FERC staff and certain intervenors filed direct and answering testimony in February 2013. In April 2013, Entergy filed its rebuttal testimony in that proceeding, including a revised illustrative re-run of the intra-system bills for the years 2003, 2004, and 2006. The revised calculation determines the re-pricing of the opportunity sales based on consideration of moveable resources only and the removal of exchange energy received by Entergy Arkansas, which increases the potential cost for Entergy Arkansas over the three years 2003, 2004, and 2006 by $2.3 million from the potential costs identified in the Utility operating companies' prior filings in September and October 2012. A hearing was held in May 2013 to quantify the effect of repricing the opportunity sales in accordance with the FERC's decision. | ||
           In August 2013 the presiding judge issued an initial decision. The initial decision concludes that the methodology proposed by the LPSC, rather than the methodologies proposed by Entergy or the FERC Staff, should be used to calculate the payments that Entergy Arkansas is to make to the other Utility operating companies. The initial decision also concludes that the other System Agreement service schedules should not be adjusted and that payments by Entergy Arkansas should not be reflected in the rough production cost equalization bandwidth calculations for the applicable years. The initial decision does recognize that the LPSC's methodology would result in an inequitable windfall to the other Utility operating companies and, therefore, concludes that any payments by Entergy Arkansas should be reduced by 20%. The Utility operating companies are currently analyzing the effects of the initial decision. The initial decision and record in the case have been forwarded to the FERC for review. The LPSC, APSC, City Council, and FERC staff filed briefs on exceptions and/or briefs opposing exceptions. Entergy filed a brief on exceptions requesting that FERC reverse the initial decision and a brief opposing certain exceptions taken by the LPSC and FERC staff. The FERC's review of the initial decision is pending.  No payments will be made or received by the Utility operating companies until the FERC issues an order reviewing the initial decision and Entergy submits a subsequent filing to comply with that order. | ||
Entergy Texas [Member] | ' | |
Rate And Regulatory Matters | ' | |
NOTE 2. RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||
Regulatory Assets | ||
           See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that information. | ||
Fuel and Purchased Power Cost Recovery | ||
Entergy Louisiana | ||
           In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana's fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC Staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million, plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana's fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. Two parties have intervened in the proceeding. A procedural schedule has been established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC Staff report and any issues raised by intervenors. One intervenor is seeking further proceedings regarding certain issues it raised in its comments on the LPSC Staff report. Entergy Louisiana has filed responses to both the LPSC Staff report and the issues raised by the intervenor. As required by the procedural schedule, a joint status report was submitted in October 2013 by the parties. That report requests that a status conference be convened by the ALJ to address open issues, including whether further proceedings will be required. A status conference has been scheduled for December 5, 2013. | ||
Entergy Texas | ||
           In November 2012, Entergy Texas filed a pleading seeking a PUCT finding that special circumstances exist for limited cost recovery of capacity costs associated with two purchased power agreements until such time that these costs are included in base rates or a purchased capacity recovery rider or other recovery mechanism. In March 2013 the PUCT Staff and intervenors filed a joint motion to dismiss Entergy Texas's application seeking special circumstances recovery of these capacity costs. Entergy Texas filed to withdraw this case without prejudice and the judge granted the request in June 2013. | ||
At the April 11, 2013 open meeting, the PUCT Commissioners discussed their view that a purchased power capacity rider was good public policy.  The PUCT issued an order on May 28, 2013 adopting the rule allowing for a purchased power capacity rider, subject to an offsetting adjustment for load growth. The rule, as adopted, also includes a process for obtaining pre-approval by the PUCT of purchased power agreements. Entergy Texas has not exercised the option to recover its capacity costs under the new rider mechanism due to the pending base rate case filed with the PUCT in September 2013, but will continue to evaluate the benefits of utilizing the new rider to recover future capacity costs. | ||
Retail Rate Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. | ||
Filings with the APSC (Entergy Arkansas) | ||
Retail Rates | ||
2013 Base Rate Filing | ||
           In March 2013, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. Recognizing that the final structure of Entergy Arkansas's transmission business has not been determined, the filing presents two alternative scenarios for the APSC to establish the appropriate level of rates for Entergy Arkansas. In the primary scenario, which assumes that Entergy Arkansas will transition to MISO in December 2013, Entergy Arkansas requests a rate increase of $174 million, including $49 million of revenue being transferred from collection in riders to base rates. The alternate scenario, which also assumes completion of the proposed spin-merge of the transmission business with ITC, reflects a $218 million total rate increase request. Both scenarios propose a new transmission rider and a capacity cost recovery rider. The filing requests a 10.4% return on common equity. In September 2013 Entergy Arkansas filed testimony reflecting an updated rate increase request of $145 million in the primary scenario, with no change to its requested return on common equity of 10.4%. Hearings in the proceeding began in October 2013, and an APSC decision is pending. New rates are expected to become effective by January 2014. | ||
Filings with the LPSC | ||
Retail Rates - Electric | ||
(Entergy Gulf States Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Gulf States Louisiana's formula rate plan. In May 2012, Entergy Gulf States Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected an 11.94% earned return on common equity, which is above the earnings bandwidth and would indicate a $6.5 million cost of service rate decrease was necessary under the formula rate plan. The filing also reflected a $22.9 million rate decrease for the incremental capacity rider. Subsequently, in August 2012, Entergy Gulf States Louisiana submitted a revised filing that reflected an earned return on common equity of 11.86% indicating a $5.7 million cost of service rate decrease is necessary under the formula rate plan. The revised filing also indicates that a reduction of $20.3 million should be reflected in the incremental capacity rider. The rate reductions were implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Gulf States Louisiana submitted a revised evaluation report that reflects expected retail jurisdictional cost of $16.9 million for the first-year capacity charges for the purchase from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy. This rate change was implemented effective with the first billing cycle of January 2013. The 2011 test year filings, as revised, were approved by the LPSC in February 2013. In April 2013, Entergy Gulf States Louisiana submitted a revised evaluation report increasing the incremental capacity rider by approximately $7.3 million to reflect the cost of an additional capacity contract. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Gulf States Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in November 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Gulf States Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. The base rate case is currently scheduled for an evidentiary hearing in February 2014. An extension of the deadline for the filing of the staff's and intervenors' testimony was granted to allow for settlement negotiations, which are ongoing. | ||
(Entergy Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Louisiana's formula rate plan. In May 2012, Entergy Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected a 9.63% earned return on common equity, which is within the earnings bandwidth and results in no cost of service rate change under the formula rate plan. The filing also reflected an $18.1 million rate increase for incremental capacity costs. In August 2012, Entergy Louisiana submitted a revised filing that reflects an earned return on common equity of 10.38%, which is still within the earnings bandwidth, resulting in no cost of service rate change. The revised filing also indicates that an increase of $15.9 million should be reflected in the incremental capacity rider. The rate change was implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Louisiana submitted a revised evaluation report that reflects two items: 1) a $17 million reduction for the first-year capacity charges for the purchase by Entergy Gulf States Louisiana from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy, and 2) an $88 million increase for the first-year retail revenue requirement associated with the Waterford 3 replacement steam generator project, which was in-service in December 2012. These rate changes were implemented, subject to refund, effective with the first billing cycle of January 2013. In April 2013, Entergy Louisiana and the LPSC staff filed a joint report resolving the 2011 test year formula rate plan and recovery related to the Grand Gulf uprate. This report was approved by the LPSC in April 2013. With completion of the Waterford 3 replacement steam generator project, the LPSC is conducting a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs.  A procedural schedule for the prudence review has not yet been established. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in December 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. A new procedural schedule was established calling for an evidentiary hearing in December 2013. Entergy Louisiana submitted an opposed motion to modify the procedural schedule to allow for settlement negotiations, which are ongoing. The motion was granted and the evidentiary hearing has been rescheduled to occur in January 2014. | ||
Retail Rates - Gas (Entergy Gulf States Louisiana) | ||
           In January 2013, Entergy Gulf States Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2012. The filing showed an earned return on common equity of 11.18%, which resulted in a $43 thousand rate reduction. In March 2013 the LPSC Staff issued its proposed findings and recommended two adjustments. The first is to normalize property insurance expense, and the second is to modify the return on equity for gas operations to reflect the return on equity that ultimately is approved by the LPSC in the investigation previously initiated by the LPSC to review the return on equity for Louisiana gas utilities. Entergy Gulf States Louisiana and the LPSC Staff reached agreement regarding the LPSC Staff's proposed adjustments. As reflected in an unopposed joint report of proceedings filed by Entergy Gulf States Louisiana and the LPSC Staff on May 16, 2013, Entergy Gulf States Louisiana accepted, with modification, the LPSC Staff's proposed adjustment to property insurance expense and agreed to: (1) a three-year extension of the gas rate stabilization plan with a midpoint return on equity of 9.95%, with a first year midpoint reset; (2) dismissal of the docket initiated by the LPSC to evaluate the allowed return on equity for Entergy Gulf States Louisiana's gas rate stabilization plan; and (3) presentation to the LPSC by November 2014 by Entergy Gulf States Louisiana and the LPSC Staff of their recommendation for implementation of an infrastructure rider to recover expenditures associated with strategic plant investment. The LPSC approved the agreement in May 2013. | ||
Filings with the MPSC (Entergy Mississippi) | ||
Formula Rate Plan Filings | ||
           In March 2013, Entergy Mississippi submitted its formula rate plan 2012 test year filing. The filing requested a $36.3 million revenue increase to reset Entergy Mississippi's return on common equity to 10.55%, which is a point within the formula rate plan bandwidth. On June 6, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, in which both parties agreed that the MPSC should approve a $22.3 million rate increase for Entergy Mississippi which, with other adjustments reflected in the stipulation, would have the effect of resetting Entergy Mississippi's return on common equity to 10.59% when adjusted for performance under the formula rate plan. In August 2013 the MPSC approved the joint stipulation between Entergy Mississippi and the Mississippi Public Utilities Staff authorizing the rate increase effective with September 2013 bills. Additionally, the MPSC authorized Entergy Mississippi to defer approximately $1.2 million in MISO-related implementation costs incurred in 2012 along with other MISO-related implementation costs to be incurred in 2013. | ||
Filings with the City Council | ||
(Entergy Louisiana) | ||
           In March 2013, Entergy Louisiana filed a rate case for the Algiers area, which is in New Orleans and is regulated by the City Council. Entergy Louisiana is requesting a rate increase of $13 million over three years, including a 10.4% return on common equity and a formula rate plan mechanism identical to its LPSC request. Hearings are scheduled for April 2014. New rates are currently expected to become effective in second quarter 2014. | ||
(Entergy New Orleans) | ||
           As discussed in the Form 10-K, in May 2012, Entergy New Orleans filed its electric and gas formula rate plan evaluation reports for the 2011 test year.  In August 2013 the City Council unanimously approved a settlement of all issues in the formula rate plan proceeding. Pursuant to the terms of the settlement, Entergy New Orleans implemented an approximately $1.625 million net decrease to the electric rates that were in effect prior to the electric rate increase implemented in October 2012, with no change in gas rates. Entergy New Orleans is in the process of refunding to customers approximately $6.0 million over the four-month period from September 2013 through December 2013 to make the electric rate decrease effective as of the first billing cycle of October 2012. Entergy New Orleans had previously recorded provisions for the majority of the refund to customers, but recorded an additional $1.1 million provision in second quarter 2013 as a result of the settlement. | ||
Filings with the PUCT (Entergy Texas) | ||
2013 Rate Case | ||
           In September 2013, Entergy Texas filed a rate case requesting a $38.6 million base rate increase reflecting a 10.4% return on common equity based on an adjusted test year ending March 31, 2013. The rate case also proposed (1) a rough production cost equalization adjustment rider recovering Entergy Texas's payment to Entergy New Orleans to achieve rough production cost equalization based on calendar year 2012 production costs, (2) a rate case expense rider recovering the cost of the 2013 rate case and certain costs associated with previous rate cases, and (3) a transmission cost recovery factor rider recovering any differences in transmission costs and rate mitigation compared to those included in base rates to the extent the proposed spin-merge transaction with ITC Holdings Corp. is completed. The rate case filing also includes a request to reconcile $0.9 billion of fuel and purchased power costs and fuel revenues covering the period July 2011 through March 2013. The fuel reconciliation also reflects special circumstances fuel cost recovery of approximately $22 million of purchased power capacity costs. A procedural schedule has been set that includes staff testimony due in December 2013 and hearings in January 2014. If approved, new rates could go into effect as early as April 2014. | ||
System Agreement Cost Equalization Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceedings regarding the System Agreement. Following are updates to that discussion. | ||
Rough Production Cost Equalization Rates | ||
2007 Rate Filing Based on Calendar Year 2006 Production Costs | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued two orders related to this proceeding.  The first order provided clarification with regard to the derivation of the ratio that should be used to functionalize net operating loss carryforwards for purposes of the annual bandwidth filings. The second order denied Entergy's request for rehearing of the FERC's prior determination that interest should be included on recalculated payment and receipt amounts required in this particular proceeding due to the length of time that had passed. | ||
2008 Rate Filing Based on Calendar Year 2007 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In March 2013 the LPSC filed a petition for review with the U.S. Court of Appeals for the Fifth Circuit seeking appellate review of the FERC's earlier orders addressing the ALJ's initial decision. | ||
2009 Rate Filing Based on Calendar Year 2008 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In January 2013 the LPSC filed a protest of Entergy's July 2012 compliance filing submitted in response to the FERC's May 2012 order. On October 16, 2013, the FERC issued orders denying the LPSC's rehearing request with respect to the FERC's May 2012 order and addressing Entergy's compliance filing implementing the FERC's directives in the May 2012 order. The compliance filing order referred to guidance provided in a separate order issued on that same day in the 2007 rate proceeding with respect to the ratio used to functionalize net operating loss carryforwards for bandwidth purposes and directed Entergy to make an additional compliance filing in the 2009 rate proceeding consistent with the guidance provided in that order. | ||
2010 Rate Filing Based on Calendar Year 2009 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued an order granting clarification and denying rehearing with respect to its October 6, 2011 rehearing order in this proceeding.  The FERC clarified that in a bandwidth proceeding parties can challenge erroneous inputs, implementation errors, or prudence of cost inputs, but challenges to the bandwidth formula itself must be raised in a Federal Power Act section 206 complaint or section 205 filing.  On October 18, 2013, the presiding ALJ lifted the stay order holding in abeyance the hearing previously ordered by the FERC and directing that the remaining issues proceed to a hearing on the merits. | ||
It is probable that the October 2013 orders disclosed above will result in a reallocation of payments/receipts among the Utility operating companies to achieve production cost equalization as defined by the FERC orders. There is still significant uncertainty, however, as to the amount and allocation of these payments/receipts. This uncertainty relates to other pending orders associated with these rate filings, potential requests for further clarification from the FERC regarding the issued orders, and Entergy's legal strategy going forward. Any payments required by the Utility operating companies as a result of these rate filings are expected to be recoverable from customers, and any receipts are expected to be credited to customers. The effect of any such payments or receipts is not expected to be material to the results of operations, financial position or cash flows of Entergy or the Utility operating companies. | ||
2013 Rate Filing Based on Calendar Year 2012 Production Costs | ||
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Several parties intervened in the proceeding at the FERC, including the LPSC, which filed a protest as well. The City Council intervened and filed comments related to including the outcome of a related FERC proceeding in the 2013 cost equalization calculation. On August 31, 2013, FERC issued an order accepting the 2013 rates, effective June 1, 2013, subject to refund, set the proceeding for hearing procedures, and then held those procedures in abeyance pending FERC decisions in the prior production cost proceedings currently before the FERC on review. | ||
Interruptible Load Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceeding regarding the treatment under the System Agreement of the Utility operating companies' interruptible loads. On March 21, 2013, the FERC issued an order denying the LPSC's request for rehearing of the FERC's June 2011 order wherein the FERC concluded it would exercise its discretion and not order refunds in the interruptible load proceeding. Based on its review of the LPSC's request for rehearing and the briefs filed as part of the paper hearing established in October 2011, the FERC affirmed its earlier ruling and declined to order refunds under the circumstances of the case. On May 2, 2013, the LPSC filed a petition for review with the U.S. Court of Appeals for the D.C. Circuit seeking review of FERC's prior orders in the Interruptible Load Proceeding concluding that it would exercise its discretion and not order refunds in the proceeding. The appeal is pending. | ||
Storm Cost Recovery Filings with Retail Regulators | ||
Entergy Gulf States Louisiana and Entergy Louisiana | ||
Hurricane Isaac | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of Hurricane Isaac and the damage caused to portions of Entergy's service area in Louisiana. In January 2013, Entergy Gulf States Louisiana and Entergy Louisiana withdrew $65 million and $187 million, respectively, from their storm reserve escrow accounts. In April 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a joint application with the LPSC relating to Hurricane Isaac system restoration costs. Specifically, Entergy Gulf States Louisiana and Entergy Louisiana requested that the LPSC determine the amount of such costs that were prudently incurred and are, thus, eligible for recovery from customers. Including carrying costs and additional storm escrow funds, Entergy Gulf States Louisiana is seeking an LPSC determination that $73.8 million in system restoration costs were prudently incurred and Entergy Louisiana is seeking an LPSC determination that $247.7 million in system restoration costs were prudently incurred. Entergy Gulf States Louisiana and Entergy Louisiana intend to replenish their storm escrow accounts to $90 million and $200 million, respectively, primarily through traditional debt markets and have requested special rate treatment of any borrowings for that purpose. In May 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a supplemental application proposing a specific means to finance system restoration costs and related requests. Entergy Gulf States Louisiana and Entergy Louisiana are proposing to finance Hurricane Isaac restoration costs through Louisiana Act 55 financing, which was the same method they used for Hurricanes Katrina, Rita, Gustav, and Ike. | ||
The LPSC Staff filed direct testimony in September 2013 concluding that Hurricane Isaac system restoration costs incurred by Entergy Gulf States Louisiana and Entergy Louisiana were reasonable and prudent, subject to proposed minor adjustments which totaled approximately 1% of each company's costs. The LPSC Staff also supported the requests to re-establish storm reserves of $90 million for Entergy Gulf States Louisiana and $200Â million for Entergy Louisiana. One intervenor filed testimony recommending storm reserve levels of $70Â million for Entergy Gulf States Louisiana and $100 million for Entergy Louisiana, but takes no position on the prudence of the Hurricane Isaac system restoration costs. An evidentiary hearing is scheduled in December 2013, with an LPSC decision expected in 2014. | ||
Entergy Mississippi | ||
           On July 1, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, wherein both parties agreed that approximately $32 million in storm restoration costs incurred in 2011 and 2012 were prudently incurred and chargeable to the storm damage reserve, while approximately $700,000 in prudently incurred costs were more properly recoverable through the formula rate plan. Entergy Mississippi and the Mississippi Public Utilities Staff also agreed that the storm damage accrual should be increased from $750,000 per month to $1.75 million per month. In September 2013 the MPSC approved the joint stipulation with the increase in the storm damage accrual effective with October 2013 bills. | ||
Texas Power Price Lawsuit | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of the lawsuit filed in August 2003 in the district court of Chambers County, Texas by Texas residents on behalf of a purported class of the Texas retail customers of Entergy Gulf States, Inc. who were billed and paid for electric power from January 1, 1994 to the present. The case is pending in state district court, and in March 2012 the court found that the case met the requirements to be maintained as a class action under Texas law. In April 2012 the court entered an order certifying the class. The defendants have appealed the order to the Texas Court of Appeals – First District. The appeal is pending, and proceedings in district court are stayed until the appeal is resolved. Oral arguments before the court of appeals were conducted on April 23, 2013, and the matter awaits that court's decision. | ||
Entergy Arkansas Opportunity Sales Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the Entergy Arkansas opportunity sales proceeding. As required by the procedural schedule established in the calculation proceeding, Entergy filed its direct testimony that included a proposed illustrative re-run, consistent with the directives in FERC's order, of intra-system bills for 2003, 2004, and 2006, the three years with the highest volume of opportunity sales. Entergy's proposed illustrative re-run of intra-system bills shows that the potential cost for Entergy Arkansas would be up to $12 million for the years 2003, 2004, and 2006, and the potential benefit would be significantly less than that for each of the other Utility operating companies. Entergy's proposed illustrative re-run of the intra-system bills also shows an offsetting potential benefit to Entergy Arkansas for the years 2003, 2004, and 2006 resulting from the effects of the FERC's order on System Agreement Service Schedules MSS-1, MSS-2, and MSS-3, and the potential offsetting cost would be significantly less than that for each of the other Utility operating companies. Entergy provided to the LPSC an illustrative intra-system bill recalculation as specified by the LPSC for the years 2003, 2004, and 2006, and the LPSC then filed answering testimony in December 2012. In its testimony the LPSC claims that the damages that should be paid by Entergy Arkansas to the other Utility operating companies' customers for 2003, 2004, and 2006 are $42 million to Entergy Gulf States, Inc., $7 million to Entergy Louisiana, $23 million to Entergy Mississippi, and $4 million to Entergy New Orleans. The FERC staff and certain intervenors filed direct and answering testimony in February 2013. In April 2013, Entergy filed its rebuttal testimony in that proceeding, including a revised illustrative re-run of the intra-system bills for the years 2003, 2004, and 2006. The revised calculation determines the re-pricing of the opportunity sales based on consideration of moveable resources only and the removal of exchange energy received by Entergy Arkansas, which increases the potential cost for Entergy Arkansas over the three years 2003, 2004, and 2006 by $2.3 million from the potential costs identified in the Utility operating companies' prior filings in September and October 2012. A hearing was held in May 2013 to quantify the effect of repricing the opportunity sales in accordance with the FERC's decision. | ||
           In August 2013 the presiding judge issued an initial decision. The initial decision concludes that the methodology proposed by the LPSC, rather than the methodologies proposed by Entergy or the FERC Staff, should be used to calculate the payments that Entergy Arkansas is to make to the other Utility operating companies. The initial decision also concludes that the other System Agreement service schedules should not be adjusted and that payments by Entergy Arkansas should not be reflected in the rough production cost equalization bandwidth calculations for the applicable years. The initial decision does recognize that the LPSC's methodology would result in an inequitable windfall to the other Utility operating companies and, therefore, concludes that any payments by Entergy Arkansas should be reduced by 20%. The Utility operating companies are currently analyzing the effects of the initial decision. The initial decision and record in the case have been forwarded to the FERC for review. The LPSC, APSC, City Council, and FERC staff filed briefs on exceptions and/or briefs opposing exceptions. Entergy filed a brief on exceptions requesting that FERC reverse the initial decision and a brief opposing certain exceptions taken by the LPSC and FERC staff. The FERC's review of the initial decision is pending.  No payments will be made or received by the Utility operating companies until the FERC issues an order reviewing the initial decision and Entergy submits a subsequent filing to comply with that order. | ||
System Energy [Member] | ' | |
Rate And Regulatory Matters | ' | |
NOTE 2. RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||
Regulatory Assets | ||
           See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that information. | ||
Fuel and Purchased Power Cost Recovery | ||
Entergy Louisiana | ||
           In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana's fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC Staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million, plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana's fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. Two parties have intervened in the proceeding. A procedural schedule has been established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC Staff report and any issues raised by intervenors. One intervenor is seeking further proceedings regarding certain issues it raised in its comments on the LPSC Staff report. Entergy Louisiana has filed responses to both the LPSC Staff report and the issues raised by the intervenor. As required by the procedural schedule, a joint status report was submitted in October 2013 by the parties. That report requests that a status conference be convened by the ALJ to address open issues, including whether further proceedings will be required. A status conference has been scheduled for December 5, 2013. | ||
Entergy Texas | ||
           In November 2012, Entergy Texas filed a pleading seeking a PUCT finding that special circumstances exist for limited cost recovery of capacity costs associated with two purchased power agreements until such time that these costs are included in base rates or a purchased capacity recovery rider or other recovery mechanism. In March 2013 the PUCT Staff and intervenors filed a joint motion to dismiss Entergy Texas's application seeking special circumstances recovery of these capacity costs. Entergy Texas filed to withdraw this case without prejudice and the judge granted the request in June 2013. | ||
At the April 11, 2013 open meeting, the PUCT Commissioners discussed their view that a purchased power capacity rider was good public policy.  The PUCT issued an order on May 28, 2013 adopting the rule allowing for a purchased power capacity rider, subject to an offsetting adjustment for load growth. The rule, as adopted, also includes a process for obtaining pre-approval by the PUCT of purchased power agreements. Entergy Texas has not exercised the option to recover its capacity costs under the new rider mechanism due to the pending base rate case filed with the PUCT in September 2013, but will continue to evaluate the benefits of utilizing the new rider to recover future capacity costs. | ||
Retail Rate Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. | ||
Filings with the APSC (Entergy Arkansas) | ||
Retail Rates | ||
2013 Base Rate Filing | ||
           In March 2013, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. Recognizing that the final structure of Entergy Arkansas's transmission business has not been determined, the filing presents two alternative scenarios for the APSC to establish the appropriate level of rates for Entergy Arkansas. In the primary scenario, which assumes that Entergy Arkansas will transition to MISO in December 2013, Entergy Arkansas requests a rate increase of $174 million, including $49 million of revenue being transferred from collection in riders to base rates. The alternate scenario, which also assumes completion of the proposed spin-merge of the transmission business with ITC, reflects a $218 million total rate increase request. Both scenarios propose a new transmission rider and a capacity cost recovery rider. The filing requests a 10.4% return on common equity. In September 2013 Entergy Arkansas filed testimony reflecting an updated rate increase request of $145 million in the primary scenario, with no change to its requested return on common equity of 10.4%. Hearings in the proceeding began in October 2013, and an APSC decision is pending. New rates are expected to become effective by January 2014. | ||
Filings with the LPSC | ||
Retail Rates - Electric | ||
(Entergy Gulf States Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Gulf States Louisiana's formula rate plan. In May 2012, Entergy Gulf States Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected an 11.94% earned return on common equity, which is above the earnings bandwidth and would indicate a $6.5 million cost of service rate decrease was necessary under the formula rate plan. The filing also reflected a $22.9 million rate decrease for the incremental capacity rider. Subsequently, in August 2012, Entergy Gulf States Louisiana submitted a revised filing that reflected an earned return on common equity of 11.86% indicating a $5.7 million cost of service rate decrease is necessary under the formula rate plan. The revised filing also indicates that a reduction of $20.3 million should be reflected in the incremental capacity rider. The rate reductions were implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Gulf States Louisiana submitted a revised evaluation report that reflects expected retail jurisdictional cost of $16.9 million for the first-year capacity charges for the purchase from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy. This rate change was implemented effective with the first billing cycle of January 2013. The 2011 test year filings, as revised, were approved by the LPSC in February 2013. In April 2013, Entergy Gulf States Louisiana submitted a revised evaluation report increasing the incremental capacity rider by approximately $7.3 million to reflect the cost of an additional capacity contract. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Gulf States Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in November 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Gulf States Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. The base rate case is currently scheduled for an evidentiary hearing in February 2014. An extension of the deadline for the filing of the staff's and intervenors' testimony was granted to allow for settlement negotiations, which are ongoing. | ||
(Entergy Louisiana) | ||
           In November 2011 the LPSC approved a one-year extension of Entergy Louisiana's formula rate plan. In May 2012, Entergy Louisiana made its formula rate plan filing with the LPSC for the 2011 test year. The filing reflected a 9.63% earned return on common equity, which is within the earnings bandwidth and results in no cost of service rate change under the formula rate plan. The filing also reflected an $18.1 million rate increase for incremental capacity costs. In August 2012, Entergy Louisiana submitted a revised filing that reflects an earned return on common equity of 10.38%, which is still within the earnings bandwidth, resulting in no cost of service rate change. The revised filing also indicates that an increase of $15.9 million should be reflected in the incremental capacity rider. The rate change was implemented, subject to refund, effective for bills rendered the first billing cycle of September 2012. Subsequently, in December 2012, Entergy Louisiana submitted a revised evaluation report that reflects two items: 1) a $17 million reduction for the first-year capacity charges for the purchase by Entergy Gulf States Louisiana from Entergy Louisiana of one-third of Acadia Unit 2 capacity and energy, and 2) an $88 million increase for the first-year retail revenue requirement associated with the Waterford 3 replacement steam generator project, which was in-service in December 2012. These rate changes were implemented, subject to refund, effective with the first billing cycle of January 2013. In April 2013, Entergy Louisiana and the LPSC staff filed a joint report resolving the 2011 test year formula rate plan and recovery related to the Grand Gulf uprate. This report was approved by the LPSC in April 2013. With completion of the Waterford 3 replacement steam generator project, the LPSC is conducting a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs.  A procedural schedule for the prudence review has not yet been established. | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the base rate case filed by Entergy Louisiana with the LPSC in February 2013. In April 2013 the LPSC established a procedural schedule providing for hearings in December 2013, with a decision by the LPSC expected in 2014. On July 26, 2013, with the concurrence of Entergy Louisiana based upon an expected 60-day delay of the procedural schedule, the ALJ suspended the procedural schedule pending resolution of the appeal by Entergy Gulf States Louisiana, Entergy Louisiana and the LPSC staff regarding the ALJ's denial of a motion to consolidate the rate cases of Entergy Gulf States Louisiana and Entergy Louisiana. At an August 2013 meeting the LPSC rejected the proposed consolidation. A new procedural schedule was established calling for an evidentiary hearing in December 2013. Entergy Louisiana submitted an opposed motion to modify the procedural schedule to allow for settlement negotiations, which are ongoing. The motion was granted and the evidentiary hearing has been rescheduled to occur in January 2014. | ||
Retail Rates - Gas (Entergy Gulf States Louisiana) | ||
           In January 2013, Entergy Gulf States Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2012. The filing showed an earned return on common equity of 11.18%, which resulted in a $43 thousand rate reduction. In March 2013 the LPSC Staff issued its proposed findings and recommended two adjustments. The first is to normalize property insurance expense, and the second is to modify the return on equity for gas operations to reflect the return on equity that ultimately is approved by the LPSC in the investigation previously initiated by the LPSC to review the return on equity for Louisiana gas utilities. Entergy Gulf States Louisiana and the LPSC Staff reached agreement regarding the LPSC Staff's proposed adjustments. As reflected in an unopposed joint report of proceedings filed by Entergy Gulf States Louisiana and the LPSC Staff on May 16, 2013, Entergy Gulf States Louisiana accepted, with modification, the LPSC Staff's proposed adjustment to property insurance expense and agreed to: (1) a three-year extension of the gas rate stabilization plan with a midpoint return on equity of 9.95%, with a first year midpoint reset; (2) dismissal of the docket initiated by the LPSC to evaluate the allowed return on equity for Entergy Gulf States Louisiana's gas rate stabilization plan; and (3) presentation to the LPSC by November 2014 by Entergy Gulf States Louisiana and the LPSC Staff of their recommendation for implementation of an infrastructure rider to recover expenditures associated with strategic plant investment. The LPSC approved the agreement in May 2013. | ||
Filings with the MPSC (Entergy Mississippi) | ||
Formula Rate Plan Filings | ||
           In March 2013, Entergy Mississippi submitted its formula rate plan 2012 test year filing. The filing requested a $36.3 million revenue increase to reset Entergy Mississippi's return on common equity to 10.55%, which is a point within the formula rate plan bandwidth. On June 6, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, in which both parties agreed that the MPSC should approve a $22.3 million rate increase for Entergy Mississippi which, with other adjustments reflected in the stipulation, would have the effect of resetting Entergy Mississippi's return on common equity to 10.59% when adjusted for performance under the formula rate plan. In August 2013 the MPSC approved the joint stipulation between Entergy Mississippi and the Mississippi Public Utilities Staff authorizing the rate increase effective with September 2013 bills. Additionally, the MPSC authorized Entergy Mississippi to defer approximately $1.2 million in MISO-related implementation costs incurred in 2012 along with other MISO-related implementation costs to be incurred in 2013. | ||
Filings with the City Council | ||
(Entergy Louisiana) | ||
           In March 2013, Entergy Louisiana filed a rate case for the Algiers area, which is in New Orleans and is regulated by the City Council. Entergy Louisiana is requesting a rate increase of $13 million over three years, including a 10.4% return on common equity and a formula rate plan mechanism identical to its LPSC request. Hearings are scheduled for April 2014. New rates are currently expected to become effective in second quarter 2014. | ||
(Entergy New Orleans) | ||
           As discussed in the Form 10-K, in May 2012, Entergy New Orleans filed its electric and gas formula rate plan evaluation reports for the 2011 test year.  In August 2013 the City Council unanimously approved a settlement of all issues in the formula rate plan proceeding. Pursuant to the terms of the settlement, Entergy New Orleans implemented an approximately $1.625 million net decrease to the electric rates that were in effect prior to the electric rate increase implemented in October 2012, with no change in gas rates. Entergy New Orleans is in the process of refunding to customers approximately $6.0 million over the four-month period from September 2013 through December 2013 to make the electric rate decrease effective as of the first billing cycle of October 2012. Entergy New Orleans had previously recorded provisions for the majority of the refund to customers, but recorded an additional $1.1 million provision in second quarter 2013 as a result of the settlement. | ||
Filings with the PUCT (Entergy Texas) | ||
2013 Rate Case | ||
           In September 2013, Entergy Texas filed a rate case requesting a $38.6 million base rate increase reflecting a 10.4% return on common equity based on an adjusted test year ending March 31, 2013. The rate case also proposed (1) a rough production cost equalization adjustment rider recovering Entergy Texas's payment to Entergy New Orleans to achieve rough production cost equalization based on calendar year 2012 production costs, (2) a rate case expense rider recovering the cost of the 2013 rate case and certain costs associated with previous rate cases, and (3) a transmission cost recovery factor rider recovering any differences in transmission costs and rate mitigation compared to those included in base rates to the extent the proposed spin-merge transaction with ITC Holdings Corp. is completed. The rate case filing also includes a request to reconcile $0.9 billion of fuel and purchased power costs and fuel revenues covering the period July 2011 through March 2013. The fuel reconciliation also reflects special circumstances fuel cost recovery of approximately $22 million of purchased power capacity costs. A procedural schedule has been set that includes staff testimony due in December 2013 and hearings in January 2014. If approved, new rates could go into effect as early as April 2014. | ||
System Agreement Cost Equalization Proceedings | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceedings regarding the System Agreement. Following are updates to that discussion. | ||
Rough Production Cost Equalization Rates | ||
2007 Rate Filing Based on Calendar Year 2006 Production Costs | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued two orders related to this proceeding.  The first order provided clarification with regard to the derivation of the ratio that should be used to functionalize net operating loss carryforwards for purposes of the annual bandwidth filings. The second order denied Entergy's request for rehearing of the FERC's prior determination that interest should be included on recalculated payment and receipt amounts required in this particular proceeding due to the length of time that had passed. | ||
2008 Rate Filing Based on Calendar Year 2007 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In March 2013 the LPSC filed a petition for review with the U.S. Court of Appeals for the Fifth Circuit seeking appellate review of the FERC's earlier orders addressing the ALJ's initial decision. | ||
2009 Rate Filing Based on Calendar Year 2008 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. In January 2013 the LPSC filed a protest of Entergy's July 2012 compliance filing submitted in response to the FERC's May 2012 order. On October 16, 2013, the FERC issued orders denying the LPSC's rehearing request with respect to the FERC's May 2012 order and addressing Entergy's compliance filing implementing the FERC's directives in the May 2012 order. The compliance filing order referred to guidance provided in a separate order issued on that same day in the 2007 rate proceeding with respect to the ratio used to functionalize net operating loss carryforwards for bandwidth purposes and directed Entergy to make an additional compliance filing in the 2009 rate proceeding consistent with the guidance provided in that order. | ||
2010 Rate Filing Based on Calendar Year 2009 Production Costs | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of this proceeding. On October 16, 2013, the FERC issued an order granting clarification and denying rehearing with respect to its October 6, 2011 rehearing order in this proceeding.  The FERC clarified that in a bandwidth proceeding parties can challenge erroneous inputs, implementation errors, or prudence of cost inputs, but challenges to the bandwidth formula itself must be raised in a Federal Power Act section 206 complaint or section 205 filing.  On October 18, 2013, the presiding ALJ lifted the stay order holding in abeyance the hearing previously ordered by the FERC and directing that the remaining issues proceed to a hearing on the merits. | ||
It is probable that the October 2013 orders disclosed above will result in a reallocation of payments/receipts among the Utility operating companies to achieve production cost equalization as defined by the FERC orders. There is still significant uncertainty, however, as to the amount and allocation of these payments/receipts. This uncertainty relates to other pending orders associated with these rate filings, potential requests for further clarification from the FERC regarding the issued orders, and Entergy's legal strategy going forward. Any payments required by the Utility operating companies as a result of these rate filings are expected to be recoverable from customers, and any receipts are expected to be credited to customers. The effect of any such payments or receipts is not expected to be material to the results of operations, financial position or cash flows of Entergy or the Utility operating companies. | ||
2013 Rate Filing Based on Calendar Year 2012 Production Costs | ||
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Several parties intervened in the proceeding at the FERC, including the LPSC, which filed a protest as well. The City Council intervened and filed comments related to including the outcome of a related FERC proceeding in the 2013 cost equalization calculation. On August 31, 2013, FERC issued an order accepting the 2013 rates, effective June 1, 2013, subject to refund, set the proceeding for hearing procedures, and then held those procedures in abeyance pending FERC decisions in the prior production cost proceedings currently before the FERC on review. | ||
Interruptible Load Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the proceeding regarding the treatment under the System Agreement of the Utility operating companies' interruptible loads. On March 21, 2013, the FERC issued an order denying the LPSC's request for rehearing of the FERC's June 2011 order wherein the FERC concluded it would exercise its discretion and not order refunds in the interruptible load proceeding. Based on its review of the LPSC's request for rehearing and the briefs filed as part of the paper hearing established in October 2011, the FERC affirmed its earlier ruling and declined to order refunds under the circumstances of the case. On May 2, 2013, the LPSC filed a petition for review with the U.S. Court of Appeals for the D.C. Circuit seeking review of FERC's prior orders in the Interruptible Load Proceeding concluding that it would exercise its discretion and not order refunds in the proceeding. The appeal is pending. | ||
Storm Cost Recovery Filings with Retail Regulators | ||
Entergy Gulf States Louisiana and Entergy Louisiana | ||
Hurricane Isaac | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of Hurricane Isaac and the damage caused to portions of Entergy's service area in Louisiana. In January 2013, Entergy Gulf States Louisiana and Entergy Louisiana withdrew $65 million and $187 million, respectively, from their storm reserve escrow accounts. In April 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a joint application with the LPSC relating to Hurricane Isaac system restoration costs. Specifically, Entergy Gulf States Louisiana and Entergy Louisiana requested that the LPSC determine the amount of such costs that were prudently incurred and are, thus, eligible for recovery from customers. Including carrying costs and additional storm escrow funds, Entergy Gulf States Louisiana is seeking an LPSC determination that $73.8 million in system restoration costs were prudently incurred and Entergy Louisiana is seeking an LPSC determination that $247.7 million in system restoration costs were prudently incurred. Entergy Gulf States Louisiana and Entergy Louisiana intend to replenish their storm escrow accounts to $90 million and $200 million, respectively, primarily through traditional debt markets and have requested special rate treatment of any borrowings for that purpose. In May 2013, Entergy Gulf States Louisiana and Entergy Louisiana filed a supplemental application proposing a specific means to finance system restoration costs and related requests. Entergy Gulf States Louisiana and Entergy Louisiana are proposing to finance Hurricane Isaac restoration costs through Louisiana Act 55 financing, which was the same method they used for Hurricanes Katrina, Rita, Gustav, and Ike. | ||
The LPSC Staff filed direct testimony in September 2013 concluding that Hurricane Isaac system restoration costs incurred by Entergy Gulf States Louisiana and Entergy Louisiana were reasonable and prudent, subject to proposed minor adjustments which totaled approximately 1% of each company's costs. The LPSC Staff also supported the requests to re-establish storm reserves of $90 million for Entergy Gulf States Louisiana and $200Â million for Entergy Louisiana. One intervenor filed testimony recommending storm reserve levels of $70Â million for Entergy Gulf States Louisiana and $100 million for Entergy Louisiana, but takes no position on the prudence of the Hurricane Isaac system restoration costs. An evidentiary hearing is scheduled in December 2013, with an LPSC decision expected in 2014. | ||
Entergy Mississippi | ||
           On July 1, 2013, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation, wherein both parties agreed that approximately $32 million in storm restoration costs incurred in 2011 and 2012 were prudently incurred and chargeable to the storm damage reserve, while approximately $700,000 in prudently incurred costs were more properly recoverable through the formula rate plan. Entergy Mississippi and the Mississippi Public Utilities Staff also agreed that the storm damage accrual should be increased from $750,000 per month to $1.75 million per month. In September 2013 the MPSC approved the joint stipulation with the increase in the storm damage accrual effective with October 2013 bills. | ||
Texas Power Price Lawsuit | ||
See Note 2 to the financial statements in the Form 10-K for a discussion of the lawsuit filed in August 2003 in the district court of Chambers County, Texas by Texas residents on behalf of a purported class of the Texas retail customers of Entergy Gulf States, Inc. who were billed and paid for electric power from January 1, 1994 to the present. The case is pending in state district court, and in March 2012 the court found that the case met the requirements to be maintained as a class action under Texas law. In April 2012 the court entered an order certifying the class. The defendants have appealed the order to the Texas Court of Appeals – First District. The appeal is pending, and proceedings in district court are stayed until the appeal is resolved. Oral arguments before the court of appeals were conducted on April 23, 2013, and the matter awaits that court's decision. | ||
Entergy Arkansas Opportunity Sales Proceeding | ||
           See Note 2 to the financial statements in the Form 10-K for a discussion of the Entergy Arkansas opportunity sales proceeding. As required by the procedural schedule established in the calculation proceeding, Entergy filed its direct testimony that included a proposed illustrative re-run, consistent with the directives in FERC's order, of intra-system bills for 2003, 2004, and 2006, the three years with the highest volume of opportunity sales. Entergy's proposed illustrative re-run of intra-system bills shows that the potential cost for Entergy Arkansas would be up to $12 million for the years 2003, 2004, and 2006, and the potential benefit would be significantly less than that for each of the other Utility operating companies. Entergy's proposed illustrative re-run of the intra-system bills also shows an offsetting potential benefit to Entergy Arkansas for the years 2003, 2004, and 2006 resulting from the effects of the FERC's order on System Agreement Service Schedules MSS-1, MSS-2, and MSS-3, and the potential offsetting cost would be significantly less than that for each of the other Utility operating companies. Entergy provided to the LPSC an illustrative intra-system bill recalculation as specified by the LPSC for the years 2003, 2004, and 2006, and the LPSC then filed answering testimony in December 2012. In its testimony the LPSC claims that the damages that should be paid by Entergy Arkansas to the other Utility operating companies' customers for 2003, 2004, and 2006 are $42 million to Entergy Gulf States, Inc., $7 million to Entergy Louisiana, $23 million to Entergy Mississippi, and $4 million to Entergy New Orleans. The FERC staff and certain intervenors filed direct and answering testimony in February 2013. In April 2013, Entergy filed its rebuttal testimony in that proceeding, including a revised illustrative re-run of the intra-system bills for the years 2003, 2004, and 2006. The revised calculation determines the re-pricing of the opportunity sales based on consideration of moveable resources only and the removal of exchange energy received by Entergy Arkansas, which increases the potential cost for Entergy Arkansas over the three years 2003, 2004, and 2006 by $2.3 million from the potential costs identified in the Utility operating companies' prior filings in September and October 2012. A hearing was held in May 2013 to quantify the effect of repricing the opportunity sales in accordance with the FERC's decision. | ||
           In August 2013 the presiding judge issued an initial decision. The initial decision concludes that the methodology proposed by the LPSC, rather than the methodologies proposed by Entergy or the FERC Staff, should be used to calculate the payments that Entergy Arkansas is to make to the other Utility operating companies. The initial decision also concludes that the other System Agreement service schedules should not be adjusted and that payments by Entergy Arkansas should not be reflected in the rough production cost equalization bandwidth calculations for the applicable years. The initial decision does recognize that the LPSC's methodology would result in an inequitable windfall to the other Utility operating companies and, therefore, concludes that any payments by Entergy Arkansas should be reduced by 20%. The Utility operating companies are currently analyzing the effects of the initial decision. The initial decision and record in the case have been forwarded to the FERC for review. The LPSC, APSC, City Council, and FERC staff filed briefs on exceptions and/or briefs opposing exceptions. Entergy filed a brief on exceptions requesting that FERC reverse the initial decision and a brief opposing certain exceptions taken by the LPSC and FERC staff. The FERC's review of the initial decision is pending.  No payments will be made or received by the Utility operating companies until the FERC issues an order reviewing the initial decision and Entergy submits a subsequent filing to comply with that order. | ||
Equity
Equity | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity | ' | ||||||||||||
NOTE 3. EQUITY (Entergy Corporation, Entergy Gulf States Louisiana, and Entergy Louisiana) | |||||||||||||
Common Stock | |||||||||||||
Earnings per Share | |||||||||||||
           The following tables present Entergy's basic and diluted earnings per share calculations included on the consolidated income statements: | |||||||||||||
For the Three Months Ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
(In Millions, Except Per Share Data) | |||||||||||||
Basic earnings per share | Income | Shares | $/share | Income | Shares | $/share | |||||||
Net income attributable to | |||||||||||||
Entergy Corporation | $239.90 | 178.3 | $1.35 | $337.10 | 177.5 | $1.90 | |||||||
Average dilutive effect of: | |||||||||||||
    Stock options | 0.1 | - | 0.4 | (0.01) | |||||||||
    Other equity plans | 0.3 | (0.01) | 0.1 |  - | |||||||||
Diluted earnings per share | $239.90 | 178.7 | $1.34Â | $337.10 | 178 | $1.89 | |||||||
For the Nine Months Ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
(In Millions, Except Per Share Data) | |||||||||||||
Basic earnings per share | Income | Shares | $/share | Income | Shares | $/share | |||||||
Net income attributable to | |||||||||||||
Entergy Corporation | $565.00 | 178.2 | $3.17Â | $550.40 | 177.2 | $3.11 | |||||||
Average dilutive effect of: | |||||||||||||
    Stock options | 0.1 | - | 0.3 | -0.01 | |||||||||
    Other equity plans | 0.2 | -0.01 | 0.1 |  - | |||||||||
Diluted earnings per share | $565.00 | 178.5 | $3.16Â | $550.40 | 177.6 | $3.10 | |||||||
The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 8.8 million and 6.2 million for the third quarters of 2013 and 2012, respectively. The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 8.9 million and 7.7 million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||
Entergy's stock options and other equity compensation plans are discussed in Note 5 herein and in Note 12 to the financial statements in the Form 10-K. | |||||||||||||
Treasury Stock | |||||||||||||
           During the nine months ended September 30, 2013, Entergy Corporation issued 498,426 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the nine months ended September 30, 2013. | |||||||||||||
Retained Earnings | |||||||||||||
           On October 25, 2013, Entergy Corporation's Board of Directors declared a common stock dividend of $0.83 per share, payable on December 2, 2013 to holders of record as of November 7, 2013.  | |||||||||||||
Comprehensive Income | |||||||||||||
           Accumulated other comprehensive loss is included in the equity section of the balance sheets of Entergy, Entergy Gulf States Louisiana, and Entergy Louisiana. The following table presents changes in accumulated other comprehensive loss for Entergy for the three months ended September 30, 2013 by component: | |||||||||||||
Cash flow | Pension | Total | |||||||||||
hedges | and | Net | Accumulated | ||||||||||
net | other | unrealized | Foreign | Other | |||||||||
unrealized | postretirement | investment | currency | Comprehensive | |||||||||
gain (loss) | liabilities | gains | translation | Loss | |||||||||
(In Thousands) | |||||||||||||
Beginning balance, June 30, 2013 | $31,520Â | ($571,138) | $262,891Â | $2,424Â | ($274,303) | ||||||||
  Other comprehensive income (loss) | |||||||||||||
     before reclassifications | (9,838) | - | 45,647 | 706 | 36,515 | ||||||||
  Amounts reclassified from | |||||||||||||
     accumulated other comprehensive | |||||||||||||
     loss | -21,825 | 15,430 | 653 | - | (5,742) | ||||||||
Net other comprehensive income (loss) for the period | |||||||||||||
(31,663)Â | 15,430Â | 46,300 | 706Â | 30,773Â | |||||||||
Ending balance, September 30, 2013 | ($143)Â | ($555,708) | $309,191Â Â | $3,130Â | ($243,530) | ||||||||
           The following table presents changes in accumulated other comprehensive loss for Entergy for the nine months ended September 30, 2013 by component: | |||||||||||||
Cash flow | Pension | Total | |||||||||||
hedges | and | Net | Accumulated | ||||||||||
net | other | unrealized | Foreign | Other | |||||||||
unrealized | postretirement | investment | currency | Comprehensive | |||||||||
gain (loss) | liabilities | gains | translation | Loss | |||||||||
(In Thousands) | |||||||||||||
Beginning balance, December 31, 2012 | $79,905Â | ($590,712) | $214,547Â | $3,177Â | ($293,083) | ||||||||
  Other comprehensive income (loss) | |||||||||||||
     before reclassifications | -57,376 | - | 95,843 | -47 | 38,420 | ||||||||
  Amounts reclassified from | |||||||||||||
     accumulated other comprehensive | |||||||||||||
     loss | -22,672 | 35,004 | -1,199 | - | 11,133 | ||||||||
Net other comprehensive income (loss) for the period | |||||||||||||
-80,048 | 35,004Â | 94,644Â | -47 | 49,553Â | |||||||||
Ending balance, September 30, 2013 | ($143)Â | ($555,708) | $309,191Â Â | $3,130Â | ($243,530) | ||||||||
           | |||||||||||||
The following table presents changes in accumulated other comprehensive loss for Entergy Gulf States Louisiana and Entergy Louisiana for the three months ended September 30, 2013: | |||||||||||||
Pension and Other | |||||||||||||
Postretirement Liabilities | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | ||||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Beginning balance June 30, 2013 | ($63,312) | ($44,771) | |||||||||||
Amounts reclassified from accumulated other | |||||||||||||
    comprehensive income | 963 | 684 | |||||||||||
Net other comprehensive income for the period | 963Â | 684Â | |||||||||||
Ending balance, September 30, 2013 | ($62,349) | ($44,087) | |||||||||||
           The following table presents changes in accumulated other comprehensive loss for Entergy Gulf States Louisiana and Entergy Louisiana for the nine months ended September 30, 2013: | |||||||||||||
Pension and Other | |||||||||||||
Postretirement Liabilities | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | ||||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Beginning balance, December 31, 2012 | ($65,229) | ($46,132) | |||||||||||
Amounts reclassified from accumulated other | |||||||||||||
    comprehensive income | 2,880 | 2,045 | |||||||||||
Net other comprehensive income for the period | 2,880Â | 2,045Â | |||||||||||
Ending balance, September 30, 2013 | ($62,349) | ($44,087) | |||||||||||
Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy for the three months ended September 30, 2013 are as follows: | |||||||||||||
Amounts | |||||||||||||
reclassified | |||||||||||||
from | Income Statement Location | ||||||||||||
AOCI | |||||||||||||
(In Thousands) | |||||||||||||
Cash flow hedges net unrealized gain | |||||||||||||
  Power contracts | $35,325 | Competitive business operating revenues | |||||||||||
  Interest rate swaps | -389 | Miscellaneous - net | |||||||||||
Total realized gains on cash flow hedges | 34,936Â | ||||||||||||
-13,111 | Income taxes | ||||||||||||
Total realized gains on cash flow hedges (net of tax) | $21,825Â | ||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $2,414 | (a) | |||||||||||
     Amortization of loss | -17,179 | (a) | |||||||||||
     Curtailment loss | -1,304 | (a) | |||||||||||
     Settlement loss | -9,662 | (a) | |||||||||||
Total amortization | -25,731 | ||||||||||||
10,301Â | Income taxes | ||||||||||||
Total amortization (net of tax) | ($15,430) | ||||||||||||
Net unrealized investment loss | |||||||||||||
Realized loss | ($1,280) | Interest and investment income | |||||||||||
627Â | Income taxes | ||||||||||||
Total realized investment loss (net of tax) | ($653) | ||||||||||||
Total reclassifications for the period (net of tax) | $5,742Â | ||||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
           | |||||||||||||
Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy for the nine months ended September 30, 2013 are as follows: | |||||||||||||
Amounts | |||||||||||||
reclassified | |||||||||||||
from | Income Statement Location | ||||||||||||
AOCI | |||||||||||||
(In Thousands) | |||||||||||||
Cash flow hedges net unrealized gain | |||||||||||||
  Power contracts | $37,518 | Competitive business operating revenues | |||||||||||
  Interest rate swaps | -1,193 | Miscellaneous - net | |||||||||||
Total realized gains on cash flow hedges | 36,325 | ||||||||||||
-13,653 | Income taxes | ||||||||||||
Total realized gains on cash flow hedges (net of tax) | $22,672Â | ||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | 7,175 | (a) | |||||||||||
     Amortization of loss | -53,268 | (a) | |||||||||||
     Curtailment loss | -1,304 | (a) | |||||||||||
     Settlement loss | -9,662 | (a) | |||||||||||
Total amortization | -57,059 | ||||||||||||
22,055Â | Income taxes | ||||||||||||
Total amortization (net of tax) | ($35,004) | ||||||||||||
Net unrealized investment gains | |||||||||||||
Realized gains | $2,351Â | Interest and investment income | |||||||||||
-1,152 | Income taxes | ||||||||||||
Total realized investment gains (net of tax) | $1,199Â | ||||||||||||
Total reclassifications for the period (net of tax) | ($11,133) | ||||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
          | |||||||||||||
           Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy Gulf States Louisiana and Entergy Louisiana for the three months ended September 30, 2013 are as follows: | |||||||||||||
Amounts reclassified | |||||||||||||
from AOCI | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | Income Statement Location | |||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $206 | $62 | (a) | ||||||||||
     Amortization of loss | -1,947 | -1,288 | (a) | ||||||||||
Total amortization | -1,741 | -1,226 | |||||||||||
778Â | 542Â | Income taxes | |||||||||||
Total amortization (net of tax) | -963 | -684 | |||||||||||
Total reclassifications for the period (net of tax) | ($963) | ($684) | |||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
           Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy Gulf States Louisiana and Entergy Louisiana for the nine months ended September 30, 2013 are as follows: | |||||||||||||
Amounts reclassified | |||||||||||||
from AOCI | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | Income Statement Location | |||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $617 | $186 | (a) | ||||||||||
     Amortization of loss | -5,839 | -3,862 | (a) | ||||||||||
Total amortization | -5,222 | -3,676 | |||||||||||
2,342Â | 1,631Â | Income taxes | |||||||||||
Total amortization (net of tax) | -2,880 | -2,045 | |||||||||||
Total reclassifications for the period (net of tax) | ($2,880) | ($2,045) | |||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
Entergy Gulf States Louisiana [Member] | ' | ||||||||||||
Equity | ' | ||||||||||||
NOTE 3. EQUITY (Entergy Corporation, Entergy Gulf States Louisiana, and Entergy Louisiana) | |||||||||||||
Common Stock | |||||||||||||
Earnings per Share | |||||||||||||
           The following tables present Entergy's basic and diluted earnings per share calculations included on the consolidated income statements: | |||||||||||||
For the Three Months Ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
(In Millions, Except Per Share Data) | |||||||||||||
Basic earnings per share | Income | Shares | $/share | Income | Shares | $/share | |||||||
Net income attributable to | |||||||||||||
Entergy Corporation | $239.90 | 178.3 | $1.35 | $337.10 | 177.5 | $1.90 | |||||||
Average dilutive effect of: | |||||||||||||
    Stock options | 0.1 | - | 0.4 | (0.01) | |||||||||
    Other equity plans | 0.3 | (0.01) | 0.1 |  - | |||||||||
Diluted earnings per share | $239.90 | 178.7 | $1.34Â | $337.10 | 178 | $1.89 | |||||||
For the Nine Months Ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
(In Millions, Except Per Share Data) | |||||||||||||
Basic earnings per share | Income | Shares | $/share | Income | Shares | $/share | |||||||
Net income attributable to | |||||||||||||
Entergy Corporation | $565.00 | 178.2 | $3.17Â | $550.40 | 177.2 | $3.11 | |||||||
Average dilutive effect of: | |||||||||||||
    Stock options | 0.1 | - | 0.3 | -0.01 | |||||||||
    Other equity plans | 0.2 | -0.01 | 0.1 |  - | |||||||||
Diluted earnings per share | $565.00 | 178.5 | $3.16Â | $550.40 | 177.6 | $3.10 | |||||||
The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 8.8 million and 6.2 million for the third quarters of 2013 and 2012, respectively. The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 8.9 million and 7.7 million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||
Entergy's stock options and other equity compensation plans are discussed in Note 5 herein and in Note 12 to the financial statements in the Form 10-K. | |||||||||||||
Treasury Stock | |||||||||||||
           During the nine months ended September 30, 2013, Entergy Corporation issued 498,426 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the nine months ended September 30, 2013. | |||||||||||||
Retained Earnings | |||||||||||||
           On October 25, 2013, Entergy Corporation's Board of Directors declared a common stock dividend of $0.83 per share, payable on December 2, 2013 to holders of record as of November 7, 2013.  | |||||||||||||
Comprehensive Income | |||||||||||||
           Accumulated other comprehensive loss is included in the equity section of the balance sheets of Entergy, Entergy Gulf States Louisiana, and Entergy Louisiana. The following table presents changes in accumulated other comprehensive loss for Entergy for the three months ended September 30, 2013 by component: | |||||||||||||
Cash flow | Pension | Total | |||||||||||
hedges | and | Net | Accumulated | ||||||||||
net | other | unrealized | Foreign | Other | |||||||||
unrealized | postretirement | investment | currency | Comprehensive | |||||||||
gain (loss) | liabilities | gains | translation | Loss | |||||||||
(In Thousands) | |||||||||||||
Beginning balance, June 30, 2013 | $31,520Â | ($571,138) | $262,891Â | $2,424Â | ($274,303) | ||||||||
  Other comprehensive income (loss) | |||||||||||||
     before reclassifications | (9,838) | - | 45,647 | 706 | 36,515 | ||||||||
  Amounts reclassified from | |||||||||||||
     accumulated other comprehensive | |||||||||||||
     loss | -21,825 | 15,430 | 653 | - | (5,742) | ||||||||
Net other comprehensive income (loss) for the period | |||||||||||||
(31,663)Â | 15,430Â | 46,300 | 706Â | 30,773Â | |||||||||
Ending balance, September 30, 2013 | ($143)Â | ($555,708) | $309,191Â Â | $3,130Â | ($243,530) | ||||||||
           The following table presents changes in accumulated other comprehensive loss for Entergy for the nine months ended September 30, 2013 by component: | |||||||||||||
Cash flow | Pension | Total | |||||||||||
hedges | and | Net | Accumulated | ||||||||||
net | other | unrealized | Foreign | Other | |||||||||
unrealized | postretirement | investment | currency | Comprehensive | |||||||||
gain (loss) | liabilities | gains | translation | Loss | |||||||||
(In Thousands) | |||||||||||||
Beginning balance, December 31, 2012 | $79,905Â | ($590,712) | $214,547Â | $3,177Â | ($293,083) | ||||||||
  Other comprehensive income (loss) | |||||||||||||
     before reclassifications | -57,376 | - | 95,843 | -47 | 38,420 | ||||||||
  Amounts reclassified from | |||||||||||||
     accumulated other comprehensive | |||||||||||||
     loss | -22,672 | 35,004 | -1,199 | - | 11,133 | ||||||||
Net other comprehensive income (loss) for the period | |||||||||||||
-80,048 | 35,004Â | 94,644Â | -47 | 49,553Â | |||||||||
Ending balance, September 30, 2013 | ($143)Â | ($555,708) | $309,191Â Â | $3,130Â | ($243,530) | ||||||||
           | |||||||||||||
The following table presents changes in accumulated other comprehensive loss for Entergy Gulf States Louisiana and Entergy Louisiana for the three months ended September 30, 2013: | |||||||||||||
Pension and Other | |||||||||||||
Postretirement Liabilities | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | ||||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Beginning balance June 30, 2013 | ($63,312) | ($44,771) | |||||||||||
Amounts reclassified from accumulated other | |||||||||||||
    comprehensive income | 963 | 684 | |||||||||||
Net other comprehensive income for the period | 963Â | 684Â | |||||||||||
Ending balance, September 30, 2013 | ($62,349) | ($44,087) | |||||||||||
           The following table presents changes in accumulated other comprehensive loss for Entergy Gulf States Louisiana and Entergy Louisiana for the nine months ended September 30, 2013: | |||||||||||||
Pension and Other | |||||||||||||
Postretirement Liabilities | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | ||||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Beginning balance, December 31, 2012 | ($65,229) | ($46,132) | |||||||||||
Amounts reclassified from accumulated other | |||||||||||||
    comprehensive income | 2,880 | 2,045 | |||||||||||
Net other comprehensive income for the period | 2,880Â | 2,045Â | |||||||||||
Ending balance, September 30, 2013 | ($62,349) | ($44,087) | |||||||||||
Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy for the three months ended September 30, 2013 are as follows: | |||||||||||||
Amounts | |||||||||||||
reclassified | |||||||||||||
from | Income Statement Location | ||||||||||||
AOCI | |||||||||||||
(In Thousands) | |||||||||||||
Cash flow hedges net unrealized gain | |||||||||||||
  Power contracts | $35,325 | Competitive business operating revenues | |||||||||||
  Interest rate swaps | -389 | Miscellaneous - net | |||||||||||
Total realized gains on cash flow hedges | 34,936Â | ||||||||||||
-13,111 | Income taxes | ||||||||||||
Total realized gains on cash flow hedges (net of tax) | $21,825Â | ||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $2,414 | (a) | |||||||||||
     Amortization of loss | -17,179 | (a) | |||||||||||
     Curtailment loss | -1,304 | (a) | |||||||||||
     Settlement loss | -9,662 | (a) | |||||||||||
Total amortization | -25,731 | ||||||||||||
10,301Â | Income taxes | ||||||||||||
Total amortization (net of tax) | ($15,430) | ||||||||||||
Net unrealized investment loss | |||||||||||||
Realized loss | ($1,280) | Interest and investment income | |||||||||||
627Â | Income taxes | ||||||||||||
Total realized investment loss (net of tax) | ($653) | ||||||||||||
Total reclassifications for the period (net of tax) | $5,742Â | ||||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
           | |||||||||||||
Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy for the nine months ended September 30, 2013 are as follows: | |||||||||||||
Amounts | |||||||||||||
reclassified | |||||||||||||
from | Income Statement Location | ||||||||||||
AOCI | |||||||||||||
(In Thousands) | |||||||||||||
Cash flow hedges net unrealized gain | |||||||||||||
  Power contracts | $37,518 | Competitive business operating revenues | |||||||||||
  Interest rate swaps | -1,193 | Miscellaneous - net | |||||||||||
Total realized gains on cash flow hedges | 36,325 | ||||||||||||
-13,653 | Income taxes | ||||||||||||
Total realized gains on cash flow hedges (net of tax) | $22,672Â | ||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | 7,175 | (a) | |||||||||||
     Amortization of loss | -53,268 | (a) | |||||||||||
     Curtailment loss | -1,304 | (a) | |||||||||||
     Settlement loss | -9,662 | (a) | |||||||||||
Total amortization | -57,059 | ||||||||||||
22,055Â | Income taxes | ||||||||||||
Total amortization (net of tax) | ($35,004) | ||||||||||||
Net unrealized investment gains | |||||||||||||
Realized gains | $2,351Â | Interest and investment income | |||||||||||
-1,152 | Income taxes | ||||||||||||
Total realized investment gains (net of tax) | $1,199Â | ||||||||||||
Total reclassifications for the period (net of tax) | ($11,133) | ||||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
          | |||||||||||||
           Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy Gulf States Louisiana and Entergy Louisiana for the three months ended September 30, 2013 are as follows: | |||||||||||||
Amounts reclassified | |||||||||||||
from AOCI | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | Income Statement Location | |||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $206 | $62 | (a) | ||||||||||
     Amortization of loss | -1,947 | -1,288 | (a) | ||||||||||
Total amortization | -1,741 | -1,226 | |||||||||||
778Â | 542Â | Income taxes | |||||||||||
Total amortization (net of tax) | -963 | -684 | |||||||||||
Total reclassifications for the period (net of tax) | ($963) | ($684) | |||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
           Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy Gulf States Louisiana and Entergy Louisiana for the nine months ended September 30, 2013 are as follows: | |||||||||||||
Amounts reclassified | |||||||||||||
from AOCI | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | Income Statement Location | |||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $617 | $186 | (a) | ||||||||||
     Amortization of loss | -5,839 | -3,862 | (a) | ||||||||||
Total amortization | -5,222 | -3,676 | |||||||||||
2,342Â | 1,631Â | Income taxes | |||||||||||
Total amortization (net of tax) | -2,880 | -2,045 | |||||||||||
Total reclassifications for the period (net of tax) | ($2,880) | ($2,045) | |||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
Entergy Louisiana [Member] | ' | ||||||||||||
Equity | ' | ||||||||||||
NOTE 3. EQUITY (Entergy Corporation, Entergy Gulf States Louisiana, and Entergy Louisiana) | |||||||||||||
Common Stock | |||||||||||||
Earnings per Share | |||||||||||||
           The following tables present Entergy's basic and diluted earnings per share calculations included on the consolidated income statements: | |||||||||||||
For the Three Months Ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
(In Millions, Except Per Share Data) | |||||||||||||
Basic earnings per share | Income | Shares | $/share | Income | Shares | $/share | |||||||
Net income attributable to | |||||||||||||
Entergy Corporation | $239.90 | 178.3 | $1.35 | $337.10 | 177.5 | $1.90 | |||||||
Average dilutive effect of: | |||||||||||||
    Stock options | 0.1 | - | 0.4 | (0.01) | |||||||||
    Other equity plans | 0.3 | (0.01) | 0.1 |  - | |||||||||
Diluted earnings per share | $239.90 | 178.7 | $1.34Â | $337.10 | 178 | $1.89 | |||||||
For the Nine Months Ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
(In Millions, Except Per Share Data) | |||||||||||||
Basic earnings per share | Income | Shares | $/share | Income | Shares | $/share | |||||||
Net income attributable to | |||||||||||||
Entergy Corporation | $565.00 | 178.2 | $3.17Â | $550.40 | 177.2 | $3.11 | |||||||
Average dilutive effect of: | |||||||||||||
    Stock options | 0.1 | - | 0.3 | -0.01 | |||||||||
    Other equity plans | 0.2 | -0.01 | 0.1 |  - | |||||||||
Diluted earnings per share | $565.00 | 178.5 | $3.16Â | $550.40 | 177.6 | $3.10 | |||||||
The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 8.8 million and 6.2 million for the third quarters of 2013 and 2012, respectively. The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 8.9 million and 7.7 million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||
Entergy's stock options and other equity compensation plans are discussed in Note 5 herein and in Note 12 to the financial statements in the Form 10-K. | |||||||||||||
Treasury Stock | |||||||||||||
           During the nine months ended September 30, 2013, Entergy Corporation issued 498,426 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the nine months ended September 30, 2013. | |||||||||||||
Retained Earnings | |||||||||||||
           On October 25, 2013, Entergy Corporation's Board of Directors declared a common stock dividend of $0.83 per share, payable on December 2, 2013 to holders of record as of November 7, 2013.  | |||||||||||||
Comprehensive Income | |||||||||||||
           Accumulated other comprehensive loss is included in the equity section of the balance sheets of Entergy, Entergy Gulf States Louisiana, and Entergy Louisiana. The following table presents changes in accumulated other comprehensive loss for Entergy for the three months ended September 30, 2013 by component: | |||||||||||||
Cash flow | Pension | Total | |||||||||||
hedges | and | Net | Accumulated | ||||||||||
net | other | unrealized | Foreign | Other | |||||||||
unrealized | postretirement | investment | currency | Comprehensive | |||||||||
gain (loss) | liabilities | gains | translation | Loss | |||||||||
(In Thousands) | |||||||||||||
Beginning balance, June 30, 2013 | $31,520Â | ($571,138) | $262,891Â | $2,424Â | ($274,303) | ||||||||
  Other comprehensive income (loss) | |||||||||||||
     before reclassifications | (9,838) | - | 45,647 | 706 | 36,515 | ||||||||
  Amounts reclassified from | |||||||||||||
     accumulated other comprehensive | |||||||||||||
     loss | -21,825 | 15,430 | 653 | - | (5,742) | ||||||||
Net other comprehensive income (loss) for the period | |||||||||||||
(31,663)Â | 15,430Â | 46,300 | 706Â | 30,773Â | |||||||||
Ending balance, September 30, 2013 | ($143)Â | ($555,708) | $309,191Â Â | $3,130Â | ($243,530) | ||||||||
           The following table presents changes in accumulated other comprehensive loss for Entergy for the nine months ended September 30, 2013 by component: | |||||||||||||
Cash flow | Pension | Total | |||||||||||
hedges | and | Net | Accumulated | ||||||||||
net | other | unrealized | Foreign | Other | |||||||||
unrealized | postretirement | investment | currency | Comprehensive | |||||||||
gain (loss) | liabilities | gains | translation | Loss | |||||||||
(In Thousands) | |||||||||||||
Beginning balance, December 31, 2012 | $79,905Â | ($590,712) | $214,547Â | $3,177Â | ($293,083) | ||||||||
  Other comprehensive income (loss) | |||||||||||||
     before reclassifications | -57,376 | - | 95,843 | -47 | 38,420 | ||||||||
  Amounts reclassified from | |||||||||||||
     accumulated other comprehensive | |||||||||||||
     loss | -22,672 | 35,004 | -1,199 | - | 11,133 | ||||||||
Net other comprehensive income (loss) for the period | |||||||||||||
-80,048 | 35,004Â | 94,644Â | -47 | 49,553Â | |||||||||
Ending balance, September 30, 2013 | ($143)Â | ($555,708) | $309,191Â Â | $3,130Â | ($243,530) | ||||||||
           | |||||||||||||
The following table presents changes in accumulated other comprehensive loss for Entergy Gulf States Louisiana and Entergy Louisiana for the three months ended September 30, 2013: | |||||||||||||
Pension and Other | |||||||||||||
Postretirement Liabilities | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | ||||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Beginning balance June 30, 2013 | ($63,312) | ($44,771) | |||||||||||
Amounts reclassified from accumulated other | |||||||||||||
    comprehensive income | 963 | 684 | |||||||||||
Net other comprehensive income for the period | 963Â | 684Â | |||||||||||
Ending balance, September 30, 2013 | ($62,349) | ($44,087) | |||||||||||
           The following table presents changes in accumulated other comprehensive loss for Entergy Gulf States Louisiana and Entergy Louisiana for the nine months ended September 30, 2013: | |||||||||||||
Pension and Other | |||||||||||||
Postretirement Liabilities | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | ||||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Beginning balance, December 31, 2012 | ($65,229) | ($46,132) | |||||||||||
Amounts reclassified from accumulated other | |||||||||||||
    comprehensive income | 2,880 | 2,045 | |||||||||||
Net other comprehensive income for the period | 2,880Â | 2,045Â | |||||||||||
Ending balance, September 30, 2013 | ($62,349) | ($44,087) | |||||||||||
Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy for the three months ended September 30, 2013 are as follows: | |||||||||||||
Amounts | |||||||||||||
reclassified | |||||||||||||
from | Income Statement Location | ||||||||||||
AOCI | |||||||||||||
(In Thousands) | |||||||||||||
Cash flow hedges net unrealized gain | |||||||||||||
  Power contracts | $35,325 | Competitive business operating revenues | |||||||||||
  Interest rate swaps | -389 | Miscellaneous - net | |||||||||||
Total realized gains on cash flow hedges | 34,936Â | ||||||||||||
-13,111 | Income taxes | ||||||||||||
Total realized gains on cash flow hedges (net of tax) | $21,825Â | ||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $2,414 | (a) | |||||||||||
     Amortization of loss | -17,179 | (a) | |||||||||||
     Curtailment loss | -1,304 | (a) | |||||||||||
     Settlement loss | -9,662 | (a) | |||||||||||
Total amortization | -25,731 | ||||||||||||
10,301Â | Income taxes | ||||||||||||
Total amortization (net of tax) | ($15,430) | ||||||||||||
Net unrealized investment loss | |||||||||||||
Realized loss | ($1,280) | Interest and investment income | |||||||||||
627Â | Income taxes | ||||||||||||
Total realized investment loss (net of tax) | ($653) | ||||||||||||
Total reclassifications for the period (net of tax) | $5,742Â | ||||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
           | |||||||||||||
Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy for the nine months ended September 30, 2013 are as follows: | |||||||||||||
Amounts | |||||||||||||
reclassified | |||||||||||||
from | Income Statement Location | ||||||||||||
AOCI | |||||||||||||
(In Thousands) | |||||||||||||
Cash flow hedges net unrealized gain | |||||||||||||
  Power contracts | $37,518 | Competitive business operating revenues | |||||||||||
  Interest rate swaps | -1,193 | Miscellaneous - net | |||||||||||
Total realized gains on cash flow hedges | 36,325 | ||||||||||||
-13,653 | Income taxes | ||||||||||||
Total realized gains on cash flow hedges (net of tax) | $22,672Â | ||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | 7,175 | (a) | |||||||||||
     Amortization of loss | -53,268 | (a) | |||||||||||
     Curtailment loss | -1,304 | (a) | |||||||||||
     Settlement loss | -9,662 | (a) | |||||||||||
Total amortization | -57,059 | ||||||||||||
22,055Â | Income taxes | ||||||||||||
Total amortization (net of tax) | ($35,004) | ||||||||||||
Net unrealized investment gains | |||||||||||||
Realized gains | $2,351Â | Interest and investment income | |||||||||||
-1,152 | Income taxes | ||||||||||||
Total realized investment gains (net of tax) | $1,199Â | ||||||||||||
Total reclassifications for the period (net of tax) | ($11,133) | ||||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
          | |||||||||||||
           Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy Gulf States Louisiana and Entergy Louisiana for the three months ended September 30, 2013 are as follows: | |||||||||||||
Amounts reclassified | |||||||||||||
from AOCI | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | Income Statement Location | |||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $206 | $62 | (a) | ||||||||||
     Amortization of loss | -1,947 | -1,288 | (a) | ||||||||||
Total amortization | -1,741 | -1,226 | |||||||||||
778Â | 542Â | Income taxes | |||||||||||
Total amortization (net of tax) | -963 | -684 | |||||||||||
Total reclassifications for the period (net of tax) | ($963) | ($684) | |||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
           Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy Gulf States Louisiana and Entergy Louisiana for the nine months ended September 30, 2013 are as follows: | |||||||||||||
Amounts reclassified | |||||||||||||
from AOCI | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | Income Statement Location | |||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $617 | $186 | (a) | ||||||||||
     Amortization of loss | -5,839 | -3,862 | (a) | ||||||||||
Total amortization | -5,222 | -3,676 | |||||||||||
2,342Â | 1,631Â | Income taxes | |||||||||||
Total amortization (net of tax) | -2,880 | -2,045 | |||||||||||
Total reclassifications for the period (net of tax) | ($2,880) | ($2,045) | |||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. |
Revolving_Credit_Facilities_Li
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | ' | ||||||||
NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||
           Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018. Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility. The commitment fee is currently 0.275% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013. | |||||||||
Capacity (a) | Borrowings | Letters | Capacity | ||||||
of Credit | Available | ||||||||
(In Millions) | |||||||||
$3,500Â | $150 | $8 | $3,342 | ||||||
(a) | The capacity decreases to $3,490 million in March 2017. | ||||||||
Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. | |||||||||
           Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion. As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%. | |||||||||
Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows: | |||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount. | |||||||||
The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: | |||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
           Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 31, 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014. | |||||||||
Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
        | |||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
            Amounts outstanding on the Entergy Gulf States Louisiana nuclear fuel company variable interest entity's credit facility, if any, are included in long-term debt on its balance sheet and commercial paper outstanding for the other nuclear fuel company variable interest entities is classified as a current liability on the respective balance sheets. The commitment fees on the credit facilities are 0.125% of the undrawn commitment amount. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio of 70% or less of its total capitalization. | |||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. | |||||||||
Debt Issuances and Redemptions | |||||||||
(Entergy Arkansas) | |||||||||
           In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas. The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers. | |||||||||
           In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes. | |||||||||
           In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds. On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility. Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(Entergy Gulf States Louisiana) | |||||||||
           In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020. The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel. | |||||||||
        | |||||||||
In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes. | |||||||||
           | |||||||||
(Entergy Louisiana) | |||||||||
           | |||||||||
           In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes. | |||||||||
           In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023. Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes. | |||||||||
(Entergy Mississippi) | |||||||||
           In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds. | |||||||||
           In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022. | |||||||||
(Entergy New Orleans) | |||||||||
           In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023. Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(System Energy Resources) | |||||||||
           In September 2013 the System Energy Resources nuclear fuel company variable interest entity redeemed, at maturity, its $70 million 6.29% Series F notes. | |||||||||
           In October 2013 the System Energy Resources nuclear fuel company variable interest entity issued $85 million of 3.78% Series I notes due October 2018. The System Energy nuclear fuel company variable interest entity used the proceeds to repay outstanding commercial paper and to purchase additional nuclear fuel. | |||||||||
Fair Value | |||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy Arkansas [Member] | ' | ||||||||
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | ' | ||||||||
NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||
           Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018. Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility. The commitment fee is currently 0.275% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013. | |||||||||
Capacity (a) | Borrowings | Letters | Capacity | ||||||
of Credit | Available | ||||||||
(In Millions) | |||||||||
$3,500Â | $150 | $8 | $3,342 | ||||||
(a) | The capacity decreases to $3,490 million in March 2017. | ||||||||
Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. | |||||||||
           Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion. As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%. | |||||||||
Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows: | |||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount. | |||||||||
The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: | |||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
           Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 31, 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014. | |||||||||
Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
        | |||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
            Amounts outstanding on the Entergy Gulf States Louisiana nuclear fuel company variable interest entity's credit facility, if any, are included in long-term debt on its balance sheet and commercial paper outstanding for the other nuclear fuel company variable interest entities is classified as a current liability on the respective balance sheets. The commitment fees on the credit facilities are 0.125% of the undrawn commitment amount. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio of 70% or less of its total capitalization. | |||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. | |||||||||
Debt Issuances and Redemptions | |||||||||
(Entergy Arkansas) | |||||||||
           In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas. The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers. | |||||||||
           In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes. | |||||||||
           In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds. On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility. Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(Entergy Gulf States Louisiana) | |||||||||
           In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020. The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel. | |||||||||
        | |||||||||
In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes. | |||||||||
           | |||||||||
(Entergy Louisiana) | |||||||||
           | |||||||||
           In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes. | |||||||||
           In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023. Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes. | |||||||||
(Entergy Mississippi) | |||||||||
           In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds. | |||||||||
           In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022. | |||||||||
(Entergy New Orleans) | |||||||||
           In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023. Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(System Energy Resources) | |||||||||
           In September 2013 the System Energy Resources nuclear fuel company variable interest entity redeemed, at maturity, its $70 million 6.29% Series F notes. | |||||||||
           In October 2013 the System Energy Resources nuclear fuel company variable interest entity issued $85 million of 3.78% Series I notes due October 2018. The System Energy nuclear fuel company variable interest entity used the proceeds to repay outstanding commercial paper and to purchase additional nuclear fuel. | |||||||||
Fair Value | |||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy Gulf States Louisiana [Member] | ' | ||||||||
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | ' | ||||||||
NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||
           Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018. Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility. The commitment fee is currently 0.275% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013. | |||||||||
Capacity (a) | Borrowings | Letters | Capacity | ||||||
of Credit | Available | ||||||||
(In Millions) | |||||||||
$3,500Â | $150 | $8 | $3,342 | ||||||
(a) | The capacity decreases to $3,490 million in March 2017. | ||||||||
Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. | |||||||||
           Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion. As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%. | |||||||||
Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows: | |||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount. | |||||||||
The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: | |||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
           Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 31, 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014. | |||||||||
Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
        | |||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
            Amounts outstanding on the Entergy Gulf States Louisiana nuclear fuel company variable interest entity's credit facility, if any, are included in long-term debt on its balance sheet and commercial paper outstanding for the other nuclear fuel company variable interest entities is classified as a current liability on the respective balance sheets. The commitment fees on the credit facilities are 0.125% of the undrawn commitment amount. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio of 70% or less of its total capitalization. | |||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. | |||||||||
Debt Issuances and Redemptions | |||||||||
(Entergy Arkansas) | |||||||||
           In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas. The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers. | |||||||||
           In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes. | |||||||||
           In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds. On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility. Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(Entergy Gulf States Louisiana) | |||||||||
           In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020. The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel. | |||||||||
        | |||||||||
In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes. | |||||||||
           | |||||||||
(Entergy Louisiana) | |||||||||
           | |||||||||
           In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes. | |||||||||
           In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023. Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes. | |||||||||
(Entergy Mississippi) | |||||||||
           In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds. | |||||||||
           In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022. | |||||||||
(Entergy New Orleans) | |||||||||
           In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023. Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(System Energy Resources) | |||||||||
           In September 2013 the System Energy Resources nuclear fuel company variable interest entity redeemed, at maturity, its $70 million 6.29% Series F notes. | |||||||||
           In October 2013 the System Energy Resources nuclear fuel company variable interest entity issued $85 million of 3.78% Series I notes due October 2018. The System Energy nuclear fuel company variable interest entity used the proceeds to repay outstanding commercial paper and to purchase additional nuclear fuel. | |||||||||
Fair Value | |||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy Louisiana [Member] | ' | ||||||||
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | ' | ||||||||
NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||
           Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018. Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility. The commitment fee is currently 0.275% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013. | |||||||||
Capacity (a) | Borrowings | Letters | Capacity | ||||||
of Credit | Available | ||||||||
(In Millions) | |||||||||
$3,500Â | $150 | $8 | $3,342 | ||||||
(a) | The capacity decreases to $3,490 million in March 2017. | ||||||||
Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. | |||||||||
           Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion. As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%. | |||||||||
Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows: | |||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount. | |||||||||
The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: | |||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
           Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 31, 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014. | |||||||||
Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
        | |||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
            Amounts outstanding on the Entergy Gulf States Louisiana nuclear fuel company variable interest entity's credit facility, if any, are included in long-term debt on its balance sheet and commercial paper outstanding for the other nuclear fuel company variable interest entities is classified as a current liability on the respective balance sheets. The commitment fees on the credit facilities are 0.125% of the undrawn commitment amount. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio of 70% or less of its total capitalization. | |||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. | |||||||||
Debt Issuances and Redemptions | |||||||||
(Entergy Arkansas) | |||||||||
           In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas. The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers. | |||||||||
           In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes. | |||||||||
           In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds. On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility. Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(Entergy Gulf States Louisiana) | |||||||||
           In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020. The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel. | |||||||||
        | |||||||||
In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes. | |||||||||
           | |||||||||
(Entergy Louisiana) | |||||||||
           | |||||||||
           In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes. | |||||||||
           In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023. Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes. | |||||||||
(Entergy Mississippi) | |||||||||
           In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds. | |||||||||
           In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022. | |||||||||
(Entergy New Orleans) | |||||||||
           In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023. Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(System Energy Resources) | |||||||||
           In September 2013 the System Energy Resources nuclear fuel company variable interest entity redeemed, at maturity, its $70 million 6.29% Series F notes. | |||||||||
           In October 2013 the System Energy Resources nuclear fuel company variable interest entity issued $85 million of 3.78% Series I notes due October 2018. The System Energy nuclear fuel company variable interest entity used the proceeds to repay outstanding commercial paper and to purchase additional nuclear fuel. | |||||||||
Fair Value | |||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy Mississippi [Member] | ' | ||||||||
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | ' | ||||||||
NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||
           Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018. Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility. The commitment fee is currently 0.275% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013. | |||||||||
Capacity (a) | Borrowings | Letters | Capacity | ||||||
of Credit | Available | ||||||||
(In Millions) | |||||||||
$3,500Â | $150 | $8 | $3,342 | ||||||
(a) | The capacity decreases to $3,490 million in March 2017. | ||||||||
Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. | |||||||||
           Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion. As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%. | |||||||||
Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows: | |||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount. | |||||||||
The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: | |||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
           Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 31, 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014. | |||||||||
Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
        | |||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
            Amounts outstanding on the Entergy Gulf States Louisiana nuclear fuel company variable interest entity's credit facility, if any, are included in long-term debt on its balance sheet and commercial paper outstanding for the other nuclear fuel company variable interest entities is classified as a current liability on the respective balance sheets. The commitment fees on the credit facilities are 0.125% of the undrawn commitment amount. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio of 70% or less of its total capitalization. | |||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. | |||||||||
Debt Issuances and Redemptions | |||||||||
(Entergy Arkansas) | |||||||||
           In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas. The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers. | |||||||||
           In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes. | |||||||||
           In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds. On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility. Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(Entergy Gulf States Louisiana) | |||||||||
           In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020. The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel. | |||||||||
        | |||||||||
In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes. | |||||||||
           | |||||||||
(Entergy Louisiana) | |||||||||
           | |||||||||
           In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes. | |||||||||
           In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023. Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes. | |||||||||
(Entergy Mississippi) | |||||||||
           In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds. | |||||||||
           In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022. | |||||||||
(Entergy New Orleans) | |||||||||
           In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023. Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(System Energy Resources) | |||||||||
           In September 2013 the System Energy Resources nuclear fuel company variable interest entity redeemed, at maturity, its $70 million 6.29% Series F notes. | |||||||||
           In October 2013 the System Energy Resources nuclear fuel company variable interest entity issued $85 million of 3.78% Series I notes due October 2018. The System Energy nuclear fuel company variable interest entity used the proceeds to repay outstanding commercial paper and to purchase additional nuclear fuel. | |||||||||
Fair Value | |||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy New Orleans | ' | ||||||||
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | ' | ||||||||
NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||
           Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018. Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility. The commitment fee is currently 0.275% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013. | |||||||||
Capacity (a) | Borrowings | Letters | Capacity | ||||||
of Credit | Available | ||||||||
(In Millions) | |||||||||
$3,500Â | $150 | $8 | $3,342 | ||||||
(a) | The capacity decreases to $3,490 million in March 2017. | ||||||||
Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. | |||||||||
           Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion. As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%. | |||||||||
Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows: | |||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount. | |||||||||
The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: | |||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
           Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 31, 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014. | |||||||||
Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
        | |||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
            Amounts outstanding on the Entergy Gulf States Louisiana nuclear fuel company variable interest entity's credit facility, if any, are included in long-term debt on its balance sheet and commercial paper outstanding for the other nuclear fuel company variable interest entities is classified as a current liability on the respective balance sheets. The commitment fees on the credit facilities are 0.125% of the undrawn commitment amount. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio of 70% or less of its total capitalization. | |||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. | |||||||||
Debt Issuances and Redemptions | |||||||||
(Entergy Arkansas) | |||||||||
           In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas. The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers. | |||||||||
           In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes. | |||||||||
           In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds. On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility. Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(Entergy Gulf States Louisiana) | |||||||||
           In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020. The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel. | |||||||||
        | |||||||||
In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes. | |||||||||
           | |||||||||
(Entergy Louisiana) | |||||||||
           | |||||||||
           In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes. | |||||||||
           In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023. Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes. | |||||||||
(Entergy Mississippi) | |||||||||
           In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds. | |||||||||
           In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022. | |||||||||
(Entergy New Orleans) | |||||||||
           In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023. Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(System Energy Resources) | |||||||||
           In September 2013 the System Energy Resources nuclear fuel company variable interest entity redeemed, at maturity, its $70 million 6.29% Series F notes. | |||||||||
           In October 2013 the System Energy Resources nuclear fuel company variable interest entity issued $85 million of 3.78% Series I notes due October 2018. The System Energy nuclear fuel company variable interest entity used the proceeds to repay outstanding commercial paper and to purchase additional nuclear fuel. | |||||||||
Fair Value | |||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy Texas [Member] | ' | ||||||||
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | ' | ||||||||
NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||
           Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018. Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility. The commitment fee is currently 0.275% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013. | |||||||||
Capacity (a) | Borrowings | Letters | Capacity | ||||||
of Credit | Available | ||||||||
(In Millions) | |||||||||
$3,500Â | $150 | $8 | $3,342 | ||||||
(a) | The capacity decreases to $3,490 million in March 2017. | ||||||||
Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. | |||||||||
           Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion. As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%. | |||||||||
Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows: | |||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount. | |||||||||
The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: | |||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
           Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 31, 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014. | |||||||||
Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
        | |||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
            Amounts outstanding on the Entergy Gulf States Louisiana nuclear fuel company variable interest entity's credit facility, if any, are included in long-term debt on its balance sheet and commercial paper outstanding for the other nuclear fuel company variable interest entities is classified as a current liability on the respective balance sheets. The commitment fees on the credit facilities are 0.125% of the undrawn commitment amount. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio of 70% or less of its total capitalization. | |||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. | |||||||||
Debt Issuances and Redemptions | |||||||||
(Entergy Arkansas) | |||||||||
           In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas. The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers. | |||||||||
           In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes. | |||||||||
           In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds. On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility. Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(Entergy Gulf States Louisiana) | |||||||||
           In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020. The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel. | |||||||||
        | |||||||||
In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes. | |||||||||
           | |||||||||
(Entergy Louisiana) | |||||||||
           | |||||||||
           In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes. | |||||||||
           In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023. Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes. | |||||||||
(Entergy Mississippi) | |||||||||
           In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds. | |||||||||
           In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022. | |||||||||
(Entergy New Orleans) | |||||||||
           In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023. Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(System Energy Resources) | |||||||||
           In September 2013 the System Energy Resources nuclear fuel company variable interest entity redeemed, at maturity, its $70 million 6.29% Series F notes. | |||||||||
           In October 2013 the System Energy Resources nuclear fuel company variable interest entity issued $85 million of 3.78% Series I notes due October 2018. The System Energy nuclear fuel company variable interest entity used the proceeds to repay outstanding commercial paper and to purchase additional nuclear fuel. | |||||||||
Fair Value | |||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
System Energy [Member] | ' | ||||||||
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | ' | ||||||||
NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||
           Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in March 2018. Entergy Corporation also has the ability to issue letters of credit against 50% of the total borrowing capacity of the credit facility. The commitment fee is currently 0.275% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2013 was 1.96% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2013. | |||||||||
Capacity (a) | Borrowings | Letters | Capacity | ||||||
of Credit | Available | ||||||||
(In Millions) | |||||||||
$3,500Â | $150 | $8 | $3,342 | ||||||
(a) | The capacity decreases to $3,490 million in March 2017. | ||||||||
Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. | |||||||||
           Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion. As of September 30, 2013, Entergy Corporation had approximately $1,016 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2013 was 0.83%. | |||||||||
Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2013 as follows: | |||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
The commitment fees on the credit facilities range from 0.125% to 0.275% of the undrawn commitment amount. | |||||||||
The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2015. In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2013 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: | |||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
           Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 31, 2015.  Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2015. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through July 2014. | |||||||||
Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
        | |||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
            Amounts outstanding on the Entergy Gulf States Louisiana nuclear fuel company variable interest entity's credit facility, if any, are included in long-term debt on its balance sheet and commercial paper outstanding for the other nuclear fuel company variable interest entities is classified as a current liability on the respective balance sheets. The commitment fees on the credit facilities are 0.125% of the undrawn commitment amount. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio of 70% or less of its total capitalization. | |||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities' credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. | |||||||||
Debt Issuances and Redemptions | |||||||||
(Entergy Arkansas) | |||||||||
           In January 2013, Entergy Arkansas arranged for the issuance by (i) Independence County, Arkansas of $45 million of 2.375% Pollution Control Revenue Refinancing Bonds (Entergy Arkansas, Inc. Project) Series 2013 due January 2021, and (ii) Jefferson County, Arkansas of $54.7 million of 1.55% Pollution Control Revenue Refunding Bonds (Entergy Arkansas, Inc. Project) Series 2013 due October 2017, each of which series is secured by a separate series of non-interest bearing first mortgage bonds of Entergy Arkansas. The proceeds of these issuances were applied to the refunding of outstanding series of pollution control revenue bonds previously issued by the respective issuers. | |||||||||
           In May 2013, Entergy Arkansas issued $250 million of 3.05% Series first mortgage bonds due June 2023. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013, Entergy Arkansas issued $125 million of 4.75% Series first mortgage bonds due June 2063. Entergy Arkansas used the proceeds to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
           In June 2013 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $30 million 9% Series H notes. | |||||||||
           In July 2013, Entergy Arkansas entered into a $250 million term loan credit facility terminating January 26, 2015 with the collateral support of a series of $255 million non-interest bearing Entergy Arkansas first mortgage bonds. On July 31, 2013, Entergy Arkansas borrowed $250 million against the credit facility. Entergy Arkansas used the borrowings to pay, at maturity, a portion of its $300 million 5.40% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(Entergy Gulf States Louisiana) | |||||||||
           In February 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity issued $70 million of 3.38% Series R notes due August 2020. The Entergy Gulf States Louisiana nuclear fuel company variable interest entity used the proceeds primarily to purchase additional nuclear fuel. | |||||||||
        | |||||||||
In May 2013 the Entergy Gulf States Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $75 million 5.56% Series N notes. | |||||||||
           | |||||||||
(Entergy Louisiana) | |||||||||
           | |||||||||
           In May 2013, Entergy Louisiana issued $100 million of 4.70% Series first mortgage bonds due June 2063. Entergy Louisiana used the proceeds for general corporate purposes. | |||||||||
           In August 2013, Entergy Louisiana issued $325 million of 4.05% Series first mortgage bonds due September 2023. Entergy Louisiana used the proceeds to repay borrowings under its $200 million credit facility and for general corporate purposes. | |||||||||
(Entergy Mississippi) | |||||||||
           In February 2013, Entergy Mississippi redeemed, at maturity, its $100 million 5.15% Series first mortgage bonds. | |||||||||
           In October 2013, Entergy Mississippi redeemed, prior to maturity, its $16.03 million 4.60% Series pollution control revenue bonds due April 2022. | |||||||||
(Entergy New Orleans) | |||||||||
           In June 2013, Entergy New Orleans issued $100 million of 3.90% Series first mortgage bonds due July 2023. Entergy New Orleans used the proceeds to pay, at maturity, its $70 million 5.25% Series first mortgage bonds due August 2013 and for general corporate purposes. | |||||||||
(System Energy Resources) | |||||||||
           In September 2013 the System Energy Resources nuclear fuel company variable interest entity redeemed, at maturity, its $70 million 6.29% Series F notes. | |||||||||
           In October 2013 the System Energy Resources nuclear fuel company variable interest entity issued $85 million of 3.78% Series I notes due October 2018. The System Energy nuclear fuel company variable interest entity used the proceeds to repay outstanding commercial paper and to purchase additional nuclear fuel. | |||||||||
Fair Value | |||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Stock-Based Compensation [Abstract] | ' | |||
Stock-Based Compensation | ' | |||
NOTE 5. STOCK-BASED COMPENSATION (Entergy Corporation) | ||||
           Entergy grants stock awards, which are described more fully in Note 12 to the financial statements in the Form 10-K. Awards under Entergy's plans generally vest over three years. | ||||
Stock Options | ||||
           Entergy granted 600,700 stock options during the first quarter 2013 with a weighted-average fair value of $8.00 per option. At September 30, 2013, there are 9,521,281 stock options outstanding with a weighted-average exercise price of $80.10. The intrinsic value, which has no effect on net income, of the outstanding stock options is calculated by the difference in the weighted average exercise price of the stock options granted and Entergy Corporation's common stock price as of September 30, 2013. Because Entergy's stock price at September 30, 2013 is less than the weighted average exercise price, the aggregate intrinsic value of the stock options outstanding as of September 30, 2013 is zero. The intrinsic value of "in the money" stock options is $3.1 million as of September 30, 2013. | ||||
The following table includes financial information for stock options for the third quarters of 2013 and 2012: | ||||
2013 | 2012 | |||
(In Millions) | ||||
Compensation expense included in Entergy's net income | $1.00 | $1.90 | ||
Tax benefit recognized in Entergy's net income | $0.40 | $0.70 | ||
Compensation cost capitalized as part of fixed assets and inventory | $0.20 | $0.30 | ||
The following table includes financial information for stock options for the nine months ended September 30, 2013 and 2012: | ||||
2013 | 2012 | |||
(In Millions) | ||||
Compensation expense included in Entergy's net income | $3.20 | $5.80 | ||
Tax benefit recognized in Entergy's net income | $1.30 | $2.20 | ||
Compensation cost capitalized as part of fixed assets and inventory | $0.60 | $1.10 | ||
Other Equity Plans | ||||
           In January 2013 the Board approved and Entergy granted 361,700 restricted stock awards and 201,474 long-term incentive awards under the 2011 Equity Ownership and Long-term Cash Incentive Plan. The restricted stock awards were made effective as of January 31, 2013 and were valued at $64.60 per share, which was the closing price of Entergy's common stock on that date. One-third of the restricted stock awards will vest upon each anniversary of the grant date. The long-term incentive awards are granted in the form of performance units, which are equal to the cash value of shares of Entergy Corporation at the end of the performance period, which is the last day of the year. The performance units were made effective as of January 31, 2013 and were valued at $65.36 per share. Entergy considers various factors, primarily market conditions, in determining the value of the performance units. Shares of the restricted stock awards have the same dividend and voting rights as other common stock, are considered issued and outstanding shares of Entergy upon vesting, and are expensed ratably over the three-year vesting period. Shares of the performance units have the same dividend rights as other common stock, are considered issued and outstanding shares of Entergy upon vesting, and are expensed ratably over the three-year vesting period. | ||||
The following table includes financial information for other equity plans for the third quarters of 2013 and 2012: | ||||
2013 | 2012 | |||
(In Millions) | ||||
Compensation expense included in Entergy's net income | $5.70 | $3.70 | ||
Tax benefit recognized in Entergy's net income | $2.20 | $1.40 | ||
Compensation cost capitalized as part of fixed assets and inventory | $0.90 | $0.60 | ||
The following table includes financial information for other equity plans for the nine months ended September 30, 2013 and 2012: | ||||
2013 | 2012 | |||
(In Millions) | ||||
Compensation expense included in Entergy's net income | $17.50 | $11.00 | ||
Tax benefit recognized in Entergy's net income | $6.80 | $4.20 | ||
Compensation cost capitalized as part of fixed assets and inventory | $2.70 | $1.90 | ||
Retirement_And_Other_Postretir
Retirement And Other Postretirement Benefits | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Retirement And Other Postretirement Benefits | ' | ||||||||||||||
NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||||||
Components of Qualified Net Pension Cost | |||||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $43,542Â | $37,691Â | |||||||||||||
Interest cost on projected benefit obligation | 65,464Â | 65,232Â | |||||||||||||
Expected return on assets | -81,898 | -79,356 | |||||||||||||
Amortization of prior service cost | 531Â | 683Â | |||||||||||||
Amortization of loss | 54,156 | 41,820Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $83,099Â | $66,070Â | |||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $131,644Â | $113,073Â | |||||||||||||
Interest cost on projected benefit obligation | 195,996Â | 195,696Â | |||||||||||||
Expected return on assets | -245,394 | -238,068 | |||||||||||||
Amortization of prior service cost | 1,665Â | 2,049Â | |||||||||||||
Amortization of loss | 164,058Â | 125,460Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $249,273Â | $198,210Â | |||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Non-Qualified Net Pension Cost | |||||||||||||||
Entergy recognized $33.1 million and $5.1 million in pension cost for its non-qualified pension plans in the third quarters of 2013 and 2012, respectively, and $44.1 million and $15.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2013 and 2012, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter 2013 and nine months ended September 30, 2013 is a $28.1 million settlement charge recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
           The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Reflected in Entergy Arkansas's and Entergy Texas's non-qualified pension costs in the third quarter 2013 and nine months ended September 30, 2013 are $19 thousand and $415 thousand, respectively, in settlement charges recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
Components of Net Other Postretirement Benefit Cost | |||||||||||||||
           Entergy's other postretirement benefit cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $18,917Â | $17,221Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 19,766 | 20,640 | |||||||||||||
Expected return on assets | -9,950 | -8,626 | |||||||||||||
Amortization of transition obligation | -Â | 794Â | |||||||||||||
Amortization of prior service cost | -3,334 | -4,541 | |||||||||||||
Amortization of loss | 11,304Â | 9,113Â | |||||||||||||
Net other postretirement benefit cost | $36,703Â | $34,601Â | |||||||||||||
           | |||||||||||||||
Entergy's other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $56,751Â | $51,663Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 59,298 | 61,920 | |||||||||||||
Expected return on assets | -29,850 | -25,878 | |||||||||||||
Amortization of transition obligation | -Â | 2,382Â | |||||||||||||
Amortization of prior service cost | -10,002 | -13,623 | |||||||||||||
Amortization of loss | 33,912Â | 27,339Â | |||||||||||||
Net other postretirement benefit cost | $110,109Â | $103,803Â | |||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy Arkansas [Member] | ' | ||||||||||||||
Retirement And Other Postretirement Benefits | ' | ||||||||||||||
NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||||||
Components of Qualified Net Pension Cost | |||||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $43,542Â | $37,691Â | |||||||||||||
Interest cost on projected benefit obligation | 65,464Â | 65,232Â | |||||||||||||
Expected return on assets | -81,898 | -79,356 | |||||||||||||
Amortization of prior service cost | 531Â | 683Â | |||||||||||||
Amortization of loss | 54,156 | 41,820Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $83,099Â | $66,070Â | |||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $131,644Â | $113,073Â | |||||||||||||
Interest cost on projected benefit obligation | 195,996Â | 195,696Â | |||||||||||||
Expected return on assets | -245,394 | -238,068 | |||||||||||||
Amortization of prior service cost | 1,665Â | 2,049Â | |||||||||||||
Amortization of loss | 164,058Â | 125,460Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $249,273Â | $198,210Â | |||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Non-Qualified Net Pension Cost | |||||||||||||||
Entergy recognized $33.1 million and $5.1 million in pension cost for its non-qualified pension plans in the third quarters of 2013 and 2012, respectively, and $44.1 million and $15.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2013 and 2012, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter 2013 and nine months ended September 30, 2013 is a $28.1 million settlement charge recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
           The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Reflected in Entergy Arkansas's and Entergy Texas's non-qualified pension costs in the third quarter 2013 and nine months ended September 30, 2013 are $19 thousand and $415 thousand, respectively, in settlement charges recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
Components of Net Other Postretirement Benefit Cost | |||||||||||||||
           Entergy's other postretirement benefit cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $18,917Â | $17,221Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 19,766 | 20,640 | |||||||||||||
Expected return on assets | -9,950 | -8,626 | |||||||||||||
Amortization of transition obligation | -Â | 794Â | |||||||||||||
Amortization of prior service cost | -3,334 | -4,541 | |||||||||||||
Amortization of loss | 11,304Â | 9,113Â | |||||||||||||
Net other postretirement benefit cost | $36,703Â | $34,601Â | |||||||||||||
           | |||||||||||||||
Entergy's other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $56,751Â | $51,663Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 59,298 | 61,920 | |||||||||||||
Expected return on assets | -29,850 | -25,878 | |||||||||||||
Amortization of transition obligation | -Â | 2,382Â | |||||||||||||
Amortization of prior service cost | -10,002 | -13,623 | |||||||||||||
Amortization of loss | 33,912Â | 27,339Â | |||||||||||||
Net other postretirement benefit cost | $110,109Â | $103,803Â | |||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy Gulf States Louisiana [Member] | ' | ||||||||||||||
Retirement And Other Postretirement Benefits | ' | ||||||||||||||
NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||||||
Components of Qualified Net Pension Cost | |||||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $43,542Â | $37,691Â | |||||||||||||
Interest cost on projected benefit obligation | 65,464Â | 65,232Â | |||||||||||||
Expected return on assets | -81,898 | -79,356 | |||||||||||||
Amortization of prior service cost | 531Â | 683Â | |||||||||||||
Amortization of loss | 54,156 | 41,820Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $83,099Â | $66,070Â | |||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $131,644Â | $113,073Â | |||||||||||||
Interest cost on projected benefit obligation | 195,996Â | 195,696Â | |||||||||||||
Expected return on assets | -245,394 | -238,068 | |||||||||||||
Amortization of prior service cost | 1,665Â | 2,049Â | |||||||||||||
Amortization of loss | 164,058Â | 125,460Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $249,273Â | $198,210Â | |||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Non-Qualified Net Pension Cost | |||||||||||||||
Entergy recognized $33.1 million and $5.1 million in pension cost for its non-qualified pension plans in the third quarters of 2013 and 2012, respectively, and $44.1 million and $15.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2013 and 2012, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter 2013 and nine months ended September 30, 2013 is a $28.1 million settlement charge recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
           The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Reflected in Entergy Arkansas's and Entergy Texas's non-qualified pension costs in the third quarter 2013 and nine months ended September 30, 2013 are $19 thousand and $415 thousand, respectively, in settlement charges recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
Components of Net Other Postretirement Benefit Cost | |||||||||||||||
           Entergy's other postretirement benefit cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $18,917Â | $17,221Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 19,766 | 20,640 | |||||||||||||
Expected return on assets | -9,950 | -8,626 | |||||||||||||
Amortization of transition obligation | -Â | 794Â | |||||||||||||
Amortization of prior service cost | -3,334 | -4,541 | |||||||||||||
Amortization of loss | 11,304Â | 9,113Â | |||||||||||||
Net other postretirement benefit cost | $36,703Â | $34,601Â | |||||||||||||
           | |||||||||||||||
Entergy's other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $56,751Â | $51,663Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 59,298 | 61,920 | |||||||||||||
Expected return on assets | -29,850 | -25,878 | |||||||||||||
Amortization of transition obligation | -Â | 2,382Â | |||||||||||||
Amortization of prior service cost | -10,002 | -13,623 | |||||||||||||
Amortization of loss | 33,912Â | 27,339Â | |||||||||||||
Net other postretirement benefit cost | $110,109Â | $103,803Â | |||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy Louisiana [Member] | ' | ||||||||||||||
Retirement And Other Postretirement Benefits | ' | ||||||||||||||
NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||||||
Components of Qualified Net Pension Cost | |||||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $43,542Â | $37,691Â | |||||||||||||
Interest cost on projected benefit obligation | 65,464Â | 65,232Â | |||||||||||||
Expected return on assets | -81,898 | -79,356 | |||||||||||||
Amortization of prior service cost | 531Â | 683Â | |||||||||||||
Amortization of loss | 54,156 | 41,820Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $83,099Â | $66,070Â | |||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $131,644Â | $113,073Â | |||||||||||||
Interest cost on projected benefit obligation | 195,996Â | 195,696Â | |||||||||||||
Expected return on assets | -245,394 | -238,068 | |||||||||||||
Amortization of prior service cost | 1,665Â | 2,049Â | |||||||||||||
Amortization of loss | 164,058Â | 125,460Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $249,273Â | $198,210Â | |||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Non-Qualified Net Pension Cost | |||||||||||||||
Entergy recognized $33.1 million and $5.1 million in pension cost for its non-qualified pension plans in the third quarters of 2013 and 2012, respectively, and $44.1 million and $15.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2013 and 2012, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter 2013 and nine months ended September 30, 2013 is a $28.1 million settlement charge recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
           The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Reflected in Entergy Arkansas's and Entergy Texas's non-qualified pension costs in the third quarter 2013 and nine months ended September 30, 2013 are $19 thousand and $415 thousand, respectively, in settlement charges recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
Components of Net Other Postretirement Benefit Cost | |||||||||||||||
           Entergy's other postretirement benefit cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $18,917Â | $17,221Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 19,766 | 20,640 | |||||||||||||
Expected return on assets | -9,950 | -8,626 | |||||||||||||
Amortization of transition obligation | -Â | 794Â | |||||||||||||
Amortization of prior service cost | -3,334 | -4,541 | |||||||||||||
Amortization of loss | 11,304Â | 9,113Â | |||||||||||||
Net other postretirement benefit cost | $36,703Â | $34,601Â | |||||||||||||
           | |||||||||||||||
Entergy's other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $56,751Â | $51,663Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 59,298 | 61,920 | |||||||||||||
Expected return on assets | -29,850 | -25,878 | |||||||||||||
Amortization of transition obligation | -Â | 2,382Â | |||||||||||||
Amortization of prior service cost | -10,002 | -13,623 | |||||||||||||
Amortization of loss | 33,912Â | 27,339Â | |||||||||||||
Net other postretirement benefit cost | $110,109Â | $103,803Â | |||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy Mississippi [Member] | ' | ||||||||||||||
Retirement And Other Postretirement Benefits | ' | ||||||||||||||
NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||||||
Components of Qualified Net Pension Cost | |||||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $43,542Â | $37,691Â | |||||||||||||
Interest cost on projected benefit obligation | 65,464Â | 65,232Â | |||||||||||||
Expected return on assets | -81,898 | -79,356 | |||||||||||||
Amortization of prior service cost | 531Â | 683Â | |||||||||||||
Amortization of loss | 54,156 | 41,820Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $83,099Â | $66,070Â | |||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $131,644Â | $113,073Â | |||||||||||||
Interest cost on projected benefit obligation | 195,996Â | 195,696Â | |||||||||||||
Expected return on assets | -245,394 | -238,068 | |||||||||||||
Amortization of prior service cost | 1,665Â | 2,049Â | |||||||||||||
Amortization of loss | 164,058Â | 125,460Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $249,273Â | $198,210Â | |||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Non-Qualified Net Pension Cost | |||||||||||||||
Entergy recognized $33.1 million and $5.1 million in pension cost for its non-qualified pension plans in the third quarters of 2013 and 2012, respectively, and $44.1 million and $15.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2013 and 2012, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter 2013 and nine months ended September 30, 2013 is a $28.1 million settlement charge recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
           The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Reflected in Entergy Arkansas's and Entergy Texas's non-qualified pension costs in the third quarter 2013 and nine months ended September 30, 2013 are $19 thousand and $415 thousand, respectively, in settlement charges recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
Components of Net Other Postretirement Benefit Cost | |||||||||||||||
           Entergy's other postretirement benefit cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $18,917Â | $17,221Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 19,766 | 20,640 | |||||||||||||
Expected return on assets | -9,950 | -8,626 | |||||||||||||
Amortization of transition obligation | -Â | 794Â | |||||||||||||
Amortization of prior service cost | -3,334 | -4,541 | |||||||||||||
Amortization of loss | 11,304Â | 9,113Â | |||||||||||||
Net other postretirement benefit cost | $36,703Â | $34,601Â | |||||||||||||
           | |||||||||||||||
Entergy's other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $56,751Â | $51,663Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 59,298 | 61,920 | |||||||||||||
Expected return on assets | -29,850 | -25,878 | |||||||||||||
Amortization of transition obligation | -Â | 2,382Â | |||||||||||||
Amortization of prior service cost | -10,002 | -13,623 | |||||||||||||
Amortization of loss | 33,912Â | 27,339Â | |||||||||||||
Net other postretirement benefit cost | $110,109Â | $103,803Â | |||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy New Orleans | ' | ||||||||||||||
Retirement And Other Postretirement Benefits | ' | ||||||||||||||
NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||||||
Components of Qualified Net Pension Cost | |||||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $43,542Â | $37,691Â | |||||||||||||
Interest cost on projected benefit obligation | 65,464Â | 65,232Â | |||||||||||||
Expected return on assets | -81,898 | -79,356 | |||||||||||||
Amortization of prior service cost | 531Â | 683Â | |||||||||||||
Amortization of loss | 54,156 | 41,820Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $83,099Â | $66,070Â | |||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $131,644Â | $113,073Â | |||||||||||||
Interest cost on projected benefit obligation | 195,996Â | 195,696Â | |||||||||||||
Expected return on assets | -245,394 | -238,068 | |||||||||||||
Amortization of prior service cost | 1,665Â | 2,049Â | |||||||||||||
Amortization of loss | 164,058Â | 125,460Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $249,273Â | $198,210Â | |||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Non-Qualified Net Pension Cost | |||||||||||||||
Entergy recognized $33.1 million and $5.1 million in pension cost for its non-qualified pension plans in the third quarters of 2013 and 2012, respectively, and $44.1 million and $15.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2013 and 2012, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter 2013 and nine months ended September 30, 2013 is a $28.1 million settlement charge recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
           The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Reflected in Entergy Arkansas's and Entergy Texas's non-qualified pension costs in the third quarter 2013 and nine months ended September 30, 2013 are $19 thousand and $415 thousand, respectively, in settlement charges recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
Components of Net Other Postretirement Benefit Cost | |||||||||||||||
           Entergy's other postretirement benefit cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $18,917Â | $17,221Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 19,766 | 20,640 | |||||||||||||
Expected return on assets | -9,950 | -8,626 | |||||||||||||
Amortization of transition obligation | -Â | 794Â | |||||||||||||
Amortization of prior service cost | -3,334 | -4,541 | |||||||||||||
Amortization of loss | 11,304Â | 9,113Â | |||||||||||||
Net other postretirement benefit cost | $36,703Â | $34,601Â | |||||||||||||
           | |||||||||||||||
Entergy's other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $56,751Â | $51,663Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 59,298 | 61,920 | |||||||||||||
Expected return on assets | -29,850 | -25,878 | |||||||||||||
Amortization of transition obligation | -Â | 2,382Â | |||||||||||||
Amortization of prior service cost | -10,002 | -13,623 | |||||||||||||
Amortization of loss | 33,912Â | 27,339Â | |||||||||||||
Net other postretirement benefit cost | $110,109Â | $103,803Â | |||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy Texas [Member] | ' | ||||||||||||||
Retirement And Other Postretirement Benefits | ' | ||||||||||||||
NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||||||
Components of Qualified Net Pension Cost | |||||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $43,542Â | $37,691Â | |||||||||||||
Interest cost on projected benefit obligation | 65,464Â | 65,232Â | |||||||||||||
Expected return on assets | -81,898 | -79,356 | |||||||||||||
Amortization of prior service cost | 531Â | 683Â | |||||||||||||
Amortization of loss | 54,156 | 41,820Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $83,099Â | $66,070Â | |||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $131,644Â | $113,073Â | |||||||||||||
Interest cost on projected benefit obligation | 195,996Â | 195,696Â | |||||||||||||
Expected return on assets | -245,394 | -238,068 | |||||||||||||
Amortization of prior service cost | 1,665Â | 2,049Â | |||||||||||||
Amortization of loss | 164,058Â | 125,460Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $249,273Â | $198,210Â | |||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Non-Qualified Net Pension Cost | |||||||||||||||
Entergy recognized $33.1 million and $5.1 million in pension cost for its non-qualified pension plans in the third quarters of 2013 and 2012, respectively, and $44.1 million and $15.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2013 and 2012, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter 2013 and nine months ended September 30, 2013 is a $28.1 million settlement charge recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
           The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Reflected in Entergy Arkansas's and Entergy Texas's non-qualified pension costs in the third quarter 2013 and nine months ended September 30, 2013 are $19 thousand and $415 thousand, respectively, in settlement charges recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
Components of Net Other Postretirement Benefit Cost | |||||||||||||||
           Entergy's other postretirement benefit cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $18,917Â | $17,221Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 19,766 | 20,640 | |||||||||||||
Expected return on assets | -9,950 | -8,626 | |||||||||||||
Amortization of transition obligation | -Â | 794Â | |||||||||||||
Amortization of prior service cost | -3,334 | -4,541 | |||||||||||||
Amortization of loss | 11,304Â | 9,113Â | |||||||||||||
Net other postretirement benefit cost | $36,703Â | $34,601Â | |||||||||||||
           | |||||||||||||||
Entergy's other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $56,751Â | $51,663Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 59,298 | 61,920 | |||||||||||||
Expected return on assets | -29,850 | -25,878 | |||||||||||||
Amortization of transition obligation | -Â | 2,382Â | |||||||||||||
Amortization of prior service cost | -10,002 | -13,623 | |||||||||||||
Amortization of loss | 33,912Â | 27,339Â | |||||||||||||
Net other postretirement benefit cost | $110,109Â | $103,803Â | |||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
System Energy [Member] | ' | ||||||||||||||
Retirement And Other Postretirement Benefits | ' | ||||||||||||||
NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||||||
Components of Qualified Net Pension Cost | |||||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $43,542Â | $37,691Â | |||||||||||||
Interest cost on projected benefit obligation | 65,464Â | 65,232Â | |||||||||||||
Expected return on assets | -81,898 | -79,356 | |||||||||||||
Amortization of prior service cost | 531Â | 683Â | |||||||||||||
Amortization of loss | 54,156 | 41,820Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $83,099Â | $66,070Â | |||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $131,644Â | $113,073Â | |||||||||||||
Interest cost on projected benefit obligation | 195,996Â | 195,696Â | |||||||||||||
Expected return on assets | -245,394 | -238,068 | |||||||||||||
Amortization of prior service cost | 1,665Â | 2,049Â | |||||||||||||
Amortization of loss | 164,058Â | 125,460Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $249,273Â | $198,210Â | |||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Non-Qualified Net Pension Cost | |||||||||||||||
Entergy recognized $33.1 million and $5.1 million in pension cost for its non-qualified pension plans in the third quarters of 2013 and 2012, respectively, and $44.1 million and $15.3 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2013 and 2012, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter 2013 and nine months ended September 30, 2013 is a $28.1 million settlement charge recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
           The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Reflected in Entergy Arkansas's and Entergy Texas's non-qualified pension costs in the third quarter 2013 and nine months ended September 30, 2013 are $19 thousand and $415 thousand, respectively, in settlement charges recognized in September 2013 related to the payment of lump sum benefits out of the plan. | |||||||||||||||
Components of Net Other Postretirement Benefit Cost | |||||||||||||||
           Entergy's other postretirement benefit cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $18,917Â | $17,221Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 19,766 | 20,640 | |||||||||||||
Expected return on assets | -9,950 | -8,626 | |||||||||||||
Amortization of transition obligation | -Â | 794Â | |||||||||||||
Amortization of prior service cost | -3,334 | -4,541 | |||||||||||||
Amortization of loss | 11,304Â | 9,113Â | |||||||||||||
Net other postretirement benefit cost | $36,703Â | $34,601Â | |||||||||||||
           | |||||||||||||||
Entergy's other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $56,751Â | $51,663Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 59,298 | 61,920 | |||||||||||||
Expected return on assets | -29,850 | -25,878 | |||||||||||||
Amortization of transition obligation | -Â | 2,382Â | |||||||||||||
Amortization of prior service cost | -10,002 | -13,623 | |||||||||||||
Amortization of loss | 33,912Â | 27,339Â | |||||||||||||
Net other postretirement benefit cost | $110,109Â | $103,803Â | |||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Business_Segment_Information
Business Segment Information | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Business Segment Information | ' | |||||||||
NOTE 7. BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||||||||||
Entergy Corporation | ||||||||||
           Entergy's reportable segments as of September 30, 2013 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership and operation of six nuclear power plants located in the northern United States and the sale of the electric power produced by those plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. "All Other" includes the parent company, Entergy Corporation, and other business activity, including the earnings on the proceeds of sales of previously-owned businesses. | ||||||||||
           In the fourth quarter 2012, Entergy moved two subsidiaries from All Other to the Entergy Wholesale Commodities segment to improve the alignment of certain intercompany items and income tax activity. The 2012 information in the table below has been restated to reflect the change. | ||||||||||
Entergy's segment financial information for the third quarters of 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $2,732,482Â | $623,321Â | $787Â Â | ($4,631) | $3,351,959Â | |||||
Income taxes | $170,816Â | ($107,337) | ($38,926) | $-Â | $24,553Â | |||||
Consolidated net income (loss) | $352,303Â | ($92,828) | $11,102Â | ($26,395) | $244,182Â | |||||
2012 | ||||||||||
Operating revenues | $2,344,885Â | $626,849Â | $1,060Â | ($9,234) | $2,963,560Â | |||||
Income taxes | $187,668Â | $56,676Â | ($11,841) | $-Â | $232,503Â | |||||
Consolidated net income (loss) | $300,506Â | $86,772Â | ($18,213) | ($26,395) | $342,670Â | |||||
           | ||||||||||
          Entergy's segment financial information for the nine months ended September 30, 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $6,948,258Â | $1,770,577Â | $2,775Â | ($22,569) | $8,699,041Â | |||||
Income taxes | $340,817Â | ($64,968)Â | ($61,647) | $-Â | $214,202Â | |||||
Consolidated net income (loss) | $680,694Â | $818Â | ($23,107) | ($79,185) | $579,220Â | |||||
2012 | ||||||||||
Operating revenues | $6,136,101Â | $1,754,774Â | $3,027Â | ($28,082) | $7,865,820Â | |||||
Income taxes | $162,914Â | $11,427Â | ($64,201) | $-Â | $110,140Â | |||||
Consolidated net income (loss) | $676,244Â | ($18,420) | ($11,487) | ($79,824) | $566,513Â | |||||
Businesses marked with * are sometimes referred to as the "competitive businesses." Eliminations are primarily intersegment activity. | ||||||||||
Registrant Subsidiaries | ||||||||||
Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries' operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. | ||||||||||
Entergy Arkansas [Member] | ' | |||||||||
Business Segment Information | ' | |||||||||
NOTE 7. BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||||||||||
Entergy Corporation | ||||||||||
           Entergy's reportable segments as of September 30, 2013 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership and operation of six nuclear power plants located in the northern United States and the sale of the electric power produced by those plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. "All Other" includes the parent company, Entergy Corporation, and other business activity, including the earnings on the proceeds of sales of previously-owned businesses. | ||||||||||
           In the fourth quarter 2012, Entergy moved two subsidiaries from All Other to the Entergy Wholesale Commodities segment to improve the alignment of certain intercompany items and income tax activity. The 2012 information in the table below has been restated to reflect the change. | ||||||||||
Entergy's segment financial information for the third quarters of 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $2,732,482Â | $623,321Â | $787Â Â | ($4,631) | $3,351,959Â | |||||
Income taxes | $170,816Â | ($107,337) | ($38,926) | $-Â | $24,553Â | |||||
Consolidated net income (loss) | $352,303Â | ($92,828) | $11,102Â | ($26,395) | $244,182Â | |||||
2012 | ||||||||||
Operating revenues | $2,344,885Â | $626,849Â | $1,060Â | ($9,234) | $2,963,560Â | |||||
Income taxes | $187,668Â | $56,676Â | ($11,841) | $-Â | $232,503Â | |||||
Consolidated net income (loss) | $300,506Â | $86,772Â | ($18,213) | ($26,395) | $342,670Â | |||||
           | ||||||||||
          Entergy's segment financial information for the nine months ended September 30, 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $6,948,258Â | $1,770,577Â | $2,775Â | ($22,569) | $8,699,041Â | |||||
Income taxes | $340,817Â | ($64,968)Â | ($61,647) | $-Â | $214,202Â | |||||
Consolidated net income (loss) | $680,694Â | $818Â | ($23,107) | ($79,185) | $579,220Â | |||||
2012 | ||||||||||
Operating revenues | $6,136,101Â | $1,754,774Â | $3,027Â | ($28,082) | $7,865,820Â | |||||
Income taxes | $162,914Â | $11,427Â | ($64,201) | $-Â | $110,140Â | |||||
Consolidated net income (loss) | $676,244Â | ($18,420) | ($11,487) | ($79,824) | $566,513Â | |||||
Businesses marked with * are sometimes referred to as the "competitive businesses." Eliminations are primarily intersegment activity. | ||||||||||
Registrant Subsidiaries | ||||||||||
Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries' operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. | ||||||||||
Entergy Gulf States Louisiana [Member] | ' | |||||||||
Business Segment Information | ' | |||||||||
NOTE 7. BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||||||||||
Entergy Corporation | ||||||||||
           Entergy's reportable segments as of September 30, 2013 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership and operation of six nuclear power plants located in the northern United States and the sale of the electric power produced by those plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. "All Other" includes the parent company, Entergy Corporation, and other business activity, including the earnings on the proceeds of sales of previously-owned businesses. | ||||||||||
           In the fourth quarter 2012, Entergy moved two subsidiaries from All Other to the Entergy Wholesale Commodities segment to improve the alignment of certain intercompany items and income tax activity. The 2012 information in the table below has been restated to reflect the change. | ||||||||||
Entergy's segment financial information for the third quarters of 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $2,732,482Â | $623,321Â | $787Â Â | ($4,631) | $3,351,959Â | |||||
Income taxes | $170,816Â | ($107,337) | ($38,926) | $-Â | $24,553Â | |||||
Consolidated net income (loss) | $352,303Â | ($92,828) | $11,102Â | ($26,395) | $244,182Â | |||||
2012 | ||||||||||
Operating revenues | $2,344,885Â | $626,849Â | $1,060Â | ($9,234) | $2,963,560Â | |||||
Income taxes | $187,668Â | $56,676Â | ($11,841) | $-Â | $232,503Â | |||||
Consolidated net income (loss) | $300,506Â | $86,772Â | ($18,213) | ($26,395) | $342,670Â | |||||
           | ||||||||||
          Entergy's segment financial information for the nine months ended September 30, 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $6,948,258Â | $1,770,577Â | $2,775Â | ($22,569) | $8,699,041Â | |||||
Income taxes | $340,817Â | ($64,968)Â | ($61,647) | $-Â | $214,202Â | |||||
Consolidated net income (loss) | $680,694Â | $818Â | ($23,107) | ($79,185) | $579,220Â | |||||
2012 | ||||||||||
Operating revenues | $6,136,101Â | $1,754,774Â | $3,027Â | ($28,082) | $7,865,820Â | |||||
Income taxes | $162,914Â | $11,427Â | ($64,201) | $-Â | $110,140Â | |||||
Consolidated net income (loss) | $676,244Â | ($18,420) | ($11,487) | ($79,824) | $566,513Â | |||||
Businesses marked with * are sometimes referred to as the "competitive businesses." Eliminations are primarily intersegment activity. | ||||||||||
Registrant Subsidiaries | ||||||||||
Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries' operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. | ||||||||||
Entergy Louisiana [Member] | ' | |||||||||
Business Segment Information | ' | |||||||||
NOTE 7. BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||||||||||
Entergy Corporation | ||||||||||
           Entergy's reportable segments as of September 30, 2013 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership and operation of six nuclear power plants located in the northern United States and the sale of the electric power produced by those plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. "All Other" includes the parent company, Entergy Corporation, and other business activity, including the earnings on the proceeds of sales of previously-owned businesses. | ||||||||||
           In the fourth quarter 2012, Entergy moved two subsidiaries from All Other to the Entergy Wholesale Commodities segment to improve the alignment of certain intercompany items and income tax activity. The 2012 information in the table below has been restated to reflect the change. | ||||||||||
Entergy's segment financial information for the third quarters of 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $2,732,482Â | $623,321Â | $787Â Â | ($4,631) | $3,351,959Â | |||||
Income taxes | $170,816Â | ($107,337) | ($38,926) | $-Â | $24,553Â | |||||
Consolidated net income (loss) | $352,303Â | ($92,828) | $11,102Â | ($26,395) | $244,182Â | |||||
2012 | ||||||||||
Operating revenues | $2,344,885Â | $626,849Â | $1,060Â | ($9,234) | $2,963,560Â | |||||
Income taxes | $187,668Â | $56,676Â | ($11,841) | $-Â | $232,503Â | |||||
Consolidated net income (loss) | $300,506Â | $86,772Â | ($18,213) | ($26,395) | $342,670Â | |||||
           | ||||||||||
          Entergy's segment financial information for the nine months ended September 30, 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $6,948,258Â | $1,770,577Â | $2,775Â | ($22,569) | $8,699,041Â | |||||
Income taxes | $340,817Â | ($64,968)Â | ($61,647) | $-Â | $214,202Â | |||||
Consolidated net income (loss) | $680,694Â | $818Â | ($23,107) | ($79,185) | $579,220Â | |||||
2012 | ||||||||||
Operating revenues | $6,136,101Â | $1,754,774Â | $3,027Â | ($28,082) | $7,865,820Â | |||||
Income taxes | $162,914Â | $11,427Â | ($64,201) | $-Â | $110,140Â | |||||
Consolidated net income (loss) | $676,244Â | ($18,420) | ($11,487) | ($79,824) | $566,513Â | |||||
Businesses marked with * are sometimes referred to as the "competitive businesses." Eliminations are primarily intersegment activity. | ||||||||||
Registrant Subsidiaries | ||||||||||
Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries' operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. | ||||||||||
Entergy Mississippi [Member] | ' | |||||||||
Business Segment Information | ' | |||||||||
NOTE 7. BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||||||||||
Entergy Corporation | ||||||||||
           Entergy's reportable segments as of September 30, 2013 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership and operation of six nuclear power plants located in the northern United States and the sale of the electric power produced by those plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. "All Other" includes the parent company, Entergy Corporation, and other business activity, including the earnings on the proceeds of sales of previously-owned businesses. | ||||||||||
           In the fourth quarter 2012, Entergy moved two subsidiaries from All Other to the Entergy Wholesale Commodities segment to improve the alignment of certain intercompany items and income tax activity. The 2012 information in the table below has been restated to reflect the change. | ||||||||||
Entergy's segment financial information for the third quarters of 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $2,732,482Â | $623,321Â | $787Â Â | ($4,631) | $3,351,959Â | |||||
Income taxes | $170,816Â | ($107,337) | ($38,926) | $-Â | $24,553Â | |||||
Consolidated net income (loss) | $352,303Â | ($92,828) | $11,102Â | ($26,395) | $244,182Â | |||||
2012 | ||||||||||
Operating revenues | $2,344,885Â | $626,849Â | $1,060Â | ($9,234) | $2,963,560Â | |||||
Income taxes | $187,668Â | $56,676Â | ($11,841) | $-Â | $232,503Â | |||||
Consolidated net income (loss) | $300,506Â | $86,772Â | ($18,213) | ($26,395) | $342,670Â | |||||
           | ||||||||||
          Entergy's segment financial information for the nine months ended September 30, 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $6,948,258Â | $1,770,577Â | $2,775Â | ($22,569) | $8,699,041Â | |||||
Income taxes | $340,817Â | ($64,968)Â | ($61,647) | $-Â | $214,202Â | |||||
Consolidated net income (loss) | $680,694Â | $818Â | ($23,107) | ($79,185) | $579,220Â | |||||
2012 | ||||||||||
Operating revenues | $6,136,101Â | $1,754,774Â | $3,027Â | ($28,082) | $7,865,820Â | |||||
Income taxes | $162,914Â | $11,427Â | ($64,201) | $-Â | $110,140Â | |||||
Consolidated net income (loss) | $676,244Â | ($18,420) | ($11,487) | ($79,824) | $566,513Â | |||||
Businesses marked with * are sometimes referred to as the "competitive businesses." Eliminations are primarily intersegment activity. | ||||||||||
Registrant Subsidiaries | ||||||||||
Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries' operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. | ||||||||||
Entergy New Orleans | ' | |||||||||
Business Segment Information | ' | |||||||||
NOTE 7. BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||||||||||
Entergy Corporation | ||||||||||
           Entergy's reportable segments as of September 30, 2013 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership and operation of six nuclear power plants located in the northern United States and the sale of the electric power produced by those plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. "All Other" includes the parent company, Entergy Corporation, and other business activity, including the earnings on the proceeds of sales of previously-owned businesses. | ||||||||||
           In the fourth quarter 2012, Entergy moved two subsidiaries from All Other to the Entergy Wholesale Commodities segment to improve the alignment of certain intercompany items and income tax activity. The 2012 information in the table below has been restated to reflect the change. | ||||||||||
Entergy's segment financial information for the third quarters of 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $2,732,482Â | $623,321Â | $787Â Â | ($4,631) | $3,351,959Â | |||||
Income taxes | $170,816Â | ($107,337) | ($38,926) | $-Â | $24,553Â | |||||
Consolidated net income (loss) | $352,303Â | ($92,828) | $11,102Â | ($26,395) | $244,182Â | |||||
2012 | ||||||||||
Operating revenues | $2,344,885Â | $626,849Â | $1,060Â | ($9,234) | $2,963,560Â | |||||
Income taxes | $187,668Â | $56,676Â | ($11,841) | $-Â | $232,503Â | |||||
Consolidated net income (loss) | $300,506Â | $86,772Â | ($18,213) | ($26,395) | $342,670Â | |||||
           | ||||||||||
          Entergy's segment financial information for the nine months ended September 30, 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $6,948,258Â | $1,770,577Â | $2,775Â | ($22,569) | $8,699,041Â | |||||
Income taxes | $340,817Â | ($64,968)Â | ($61,647) | $-Â | $214,202Â | |||||
Consolidated net income (loss) | $680,694Â | $818Â | ($23,107) | ($79,185) | $579,220Â | |||||
2012 | ||||||||||
Operating revenues | $6,136,101Â | $1,754,774Â | $3,027Â | ($28,082) | $7,865,820Â | |||||
Income taxes | $162,914Â | $11,427Â | ($64,201) | $-Â | $110,140Â | |||||
Consolidated net income (loss) | $676,244Â | ($18,420) | ($11,487) | ($79,824) | $566,513Â | |||||
Businesses marked with * are sometimes referred to as the "competitive businesses." Eliminations are primarily intersegment activity. | ||||||||||
Registrant Subsidiaries | ||||||||||
Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries' operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. | ||||||||||
Entergy Texas [Member] | ' | |||||||||
Business Segment Information | ' | |||||||||
NOTE 7. BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||||||||||
Entergy Corporation | ||||||||||
           Entergy's reportable segments as of September 30, 2013 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership and operation of six nuclear power plants located in the northern United States and the sale of the electric power produced by those plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. "All Other" includes the parent company, Entergy Corporation, and other business activity, including the earnings on the proceeds of sales of previously-owned businesses. | ||||||||||
           In the fourth quarter 2012, Entergy moved two subsidiaries from All Other to the Entergy Wholesale Commodities segment to improve the alignment of certain intercompany items and income tax activity. The 2012 information in the table below has been restated to reflect the change. | ||||||||||
Entergy's segment financial information for the third quarters of 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $2,732,482Â | $623,321Â | $787Â Â | ($4,631) | $3,351,959Â | |||||
Income taxes | $170,816Â | ($107,337) | ($38,926) | $-Â | $24,553Â | |||||
Consolidated net income (loss) | $352,303Â | ($92,828) | $11,102Â | ($26,395) | $244,182Â | |||||
2012 | ||||||||||
Operating revenues | $2,344,885Â | $626,849Â | $1,060Â | ($9,234) | $2,963,560Â | |||||
Income taxes | $187,668Â | $56,676Â | ($11,841) | $-Â | $232,503Â | |||||
Consolidated net income (loss) | $300,506Â | $86,772Â | ($18,213) | ($26,395) | $342,670Â | |||||
           | ||||||||||
          Entergy's segment financial information for the nine months ended September 30, 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $6,948,258Â | $1,770,577Â | $2,775Â | ($22,569) | $8,699,041Â | |||||
Income taxes | $340,817Â | ($64,968)Â | ($61,647) | $-Â | $214,202Â | |||||
Consolidated net income (loss) | $680,694Â | $818Â | ($23,107) | ($79,185) | $579,220Â | |||||
2012 | ||||||||||
Operating revenues | $6,136,101Â | $1,754,774Â | $3,027Â | ($28,082) | $7,865,820Â | |||||
Income taxes | $162,914Â | $11,427Â | ($64,201) | $-Â | $110,140Â | |||||
Consolidated net income (loss) | $676,244Â | ($18,420) | ($11,487) | ($79,824) | $566,513Â | |||||
Businesses marked with * are sometimes referred to as the "competitive businesses." Eliminations are primarily intersegment activity. | ||||||||||
Registrant Subsidiaries | ||||||||||
Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries' operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. | ||||||||||
System Energy [Member] | ' | |||||||||
Business Segment Information | ' | |||||||||
NOTE 7. BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | ||||||||||
Entergy Corporation | ||||||||||
           Entergy's reportable segments as of September 30, 2013 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership and operation of six nuclear power plants located in the northern United States and the sale of the electric power produced by those plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. "All Other" includes the parent company, Entergy Corporation, and other business activity, including the earnings on the proceeds of sales of previously-owned businesses. | ||||||||||
           In the fourth quarter 2012, Entergy moved two subsidiaries from All Other to the Entergy Wholesale Commodities segment to improve the alignment of certain intercompany items and income tax activity. The 2012 information in the table below has been restated to reflect the change. | ||||||||||
Entergy's segment financial information for the third quarters of 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $2,732,482Â | $623,321Â | $787Â Â | ($4,631) | $3,351,959Â | |||||
Income taxes | $170,816Â | ($107,337) | ($38,926) | $-Â | $24,553Â | |||||
Consolidated net income (loss) | $352,303Â | ($92,828) | $11,102Â | ($26,395) | $244,182Â | |||||
2012 | ||||||||||
Operating revenues | $2,344,885Â | $626,849Â | $1,060Â | ($9,234) | $2,963,560Â | |||||
Income taxes | $187,668Â | $56,676Â | ($11,841) | $-Â | $232,503Â | |||||
Consolidated net income (loss) | $300,506Â | $86,772Â | ($18,213) | ($26,395) | $342,670Â | |||||
           | ||||||||||
          Entergy's segment financial information for the nine months ended September 30, 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $6,948,258Â | $1,770,577Â | $2,775Â | ($22,569) | $8,699,041Â | |||||
Income taxes | $340,817Â | ($64,968)Â | ($61,647) | $-Â | $214,202Â | |||||
Consolidated net income (loss) | $680,694Â | $818Â | ($23,107) | ($79,185) | $579,220Â | |||||
2012 | ||||||||||
Operating revenues | $6,136,101Â | $1,754,774Â | $3,027Â | ($28,082) | $7,865,820Â | |||||
Income taxes | $162,914Â | $11,427Â | ($64,201) | $-Â | $110,140Â | |||||
Consolidated net income (loss) | $676,244Â | ($18,420) | ($11,487) | ($79,824) | $566,513Â | |||||
Businesses marked with * are sometimes referred to as the "competitive businesses." Eliminations are primarily intersegment activity. | ||||||||||
Registrant Subsidiaries | ||||||||||
Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries' operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. | ||||||||||
Risk_Management_And_Fair_Value
Risk Management And Fair Values | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Risk Management And Fair Values | ' | ||||||||||
NOTE 8. RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||
Market Risk | |||||||||||
In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. | |||||||||||
The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. | |||||||||||
As a wholesale generator, Entergy Wholesale Commodities's core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, put and/or call options, to mitigate forward commodity price risk. When market price falls, the combination of instruments is expected to settle in gains offsetting lower revenue from generation and resulting in a more predictable cash flow. | |||||||||||
Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy's risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy's objectives. | |||||||||||
Derivatives | |||||||||||
           Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy will occasionally enter into financially settled swap and option contracts to manage market risk under certain hedging transactions which may or may not be designated as hedging instruments. | |||||||||||
           Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. The maximum length of time over which Entergy is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2013 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 82% for the remainder of 2013, of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2013 is 11 TWh. | |||||||||||
           Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of September 30, 2013 is 19,081,000 MMBtu for Entergy, 7,600,000 MMBtu for Entergy Gulf States Louisiana, 8,540,000 MMBtu for Entergy Louisiana, 2,010,000 MMBtu for Entergy Mississippi, and 931,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. | |||||||||||
The fair values of Entergy's derivative instruments in the consolidated balance sheet as of September 30, 2013 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $50 | ($28) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $12 | ($7) | $5 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $40 | ($27) | $13 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $11 | ($7) | $4 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $78 | ($28) | $50 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $15 | ($7) | $8 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $39 | ($29) | $10 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $16 | ($7) | $9 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $3 | ($-) | $3 | Utility | ||||||
           The fair values of Entergy's derivative instruments in the consolidated balance sheet as of December 31, 2012 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $123 | ($-) | $123 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $46 | ($10) | $36 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $18 | ($11) | $7 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $22 | ($-) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $24 | ($14) | $10 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $19 | ($13) | $6 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $8 | ($-) | $8 | Utility | ||||||
(a) | Represents the gross amounts of recognized assets/liabilities | ||||||||||
(b) | Represents the netting of fair value balances with the same counterparty | ||||||||||
(c) | Represents the net amounts of assets /liabilities presented on the Entergy Consolidated Balance Sheets | ||||||||||
(d) | Excludes cash collateral in the amounts of $7 million and $56 million held as of September 30, 2013 and December 31, 2012, respectively | ||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of loss | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($4) million | Competitive businesses operating revenues | $35 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | ($108) million | Competitive businesses operating revenues | $61 million | ||||||||
           | |||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain (loss) | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($78) million | Competitive businesses operating revenues | $38 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | $120 million | Competitive businesses operating revenues | $232 million | ||||||||
           | |||||||||||
           Electricity over-the-counter instruments that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. Unrealized gains or losses recorded in other comprehensive income result from hedging power output at the Entergy Wholesale Commodities power plants. The related gains or losses from hedging power are included in operating revenues when realized. Gains totaling approximately $35 million and $61 million were realized on the maturity of cash flow hedges, before taxes of $13 million and $21 million, for the three months ended September 30, 2013 and 2012, respectively. Gains totaling approximately $38 million and $232 million were realized on the maturity of cash flow hedges, before taxes of $14 million and $81 million, for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the three months ended September 30, 2013 and 2012 was ($1.8) million and ($1.2) million, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the nine months ended September 30, 2013 and 2012 was ($2.3) million and ($1.6) million, respectively. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. | |||||||||||
           Based on market prices as of September 30, 2013, unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $7 million of net unrealized gains. Approximately $6 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, however, could vary due to future changes in market prices.   | |||||||||||
           Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide collateral to secure its obligations when the current market prices exceed the contracted power prices. The primary form of collateral to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2013, hedge contracts with five counterparties were in a liability position (approximately $32 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. As of September 30, 2012, hedge contracts with one counterparty were in a liability position (approximately $2 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date.  | |||||||||||
           Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction settles. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. | |||||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($1) million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $12 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $7 million | ||||||||
Electricity swaps and options de-designated as hedged items | $3 million | Competitive business operating revenues | ($7) million | ||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $8 million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $2 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($28) million | ||||||||
Electricity swaps and options de-designated as hedged items | $2 million | Competitive business operating revenues | ($6) million | ||||||||
Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. | |||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Fair Values | |||||||||||
           The estimated fair values of Entergy's financial instruments and derivatives are determined using bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not accrue to the benefit or detriment of shareholders. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. | |||||||||||
           Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. | |||||||||||
           Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: | |||||||||||
·        Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. See Note 1 to the financial statements in the Form 10-K for a discussion of cash and cash equivalents. | |||||||||||
·        Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: | |||||||||||
-Â Â Â quoted prices for similar assets or liabilities in active markets; | |||||||||||
-Â Â Â quoted prices for identical assets or liabilities in inactive markets; | |||||||||||
-Â Â Â inputs other than quoted prices that are observable for the asset or liability; or | |||||||||||
-Â Â Â inputs that are derived principally from or corroborated by observable market data | |||||||||||
          by correlation or other means. | |||||||||||
Level 2 consists primarily of individually-owned debt instruments or shares in common trusts. Common trust funds are stated at estimated fair value based on the fair market value of the underlying investments. | |||||||||||
·        Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management's best estimate of fair value for the asset or liability. Level 3 consists primarily of derivative power contracts used as cash flow hedges of power sales at merchant power plants. | |||||||||||
The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Entergy Wholesale Commodities Risk Control Group and sent to the Entergy Wholesale Commodities Back Office and Entergy Nuclear Finance groups for evaluation. The primary functions of the Entergy Wholesale Commodities Risk Control Group include: gathering, validating and reporting market data, providing market and credit risk analyses and valuations in support of Entergy Wholesale Commodities' commercial transactions, developing and administering protocols for the management of market and credit risks, implementing and maintaining controls around changes to market data in the energy trading and risk management system, reviewing creditworthiness of counterparties, supporting contract negotiations with new counterparties, administering credit support for contracts, and managing the daily margining process. The Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The primary functions of the Entergy Wholesale Commodities Back Office are market and counterparty settlements, revenue reporting and analysis and general ledger. The Entergy Wholesale Commodities Risk Control Group reports to the Vice President – Entergy Wholesale Commodities Chief Financial Officer while the Entergy Wholesale Commodities Back Office reports to the Controller, Competitive Operations. Entergy Nuclear Finance is primarily responsible for the financial planning of Entergy's utility and non-utility nuclear businesses. The VP, Chief Financial Officer – Nuclear Operations within Entergy Nuclear Finance reports to the Chief Accounting Officer. | |||||||||||
The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties' credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. | |||||||||||
The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. As of September 30, 2013, Entergy had in-the-money derivative contracts with a fair value of $85 million with counterparties or their guarantor who are all currently investment grade. As of September 30, 2013 $36 million of the derivative contracts are out-of-the-money contracts supported by corporate guarantees, which would require additional cash or letters of credit in the event of a decrease in Entergy Corporation's credit rating to below investment grade. | |||||||||||
On a daily basis, Entergy Wholesale Commodities calculates the mark-to-market for all derivative transactions. Entergy Wholesale Commodities Risk Control Group also validates forward market prices by comparing them to other sources of forward market prices and/or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices and/or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available, and using multiple sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities's portfolio. In particular, the credit, liquidity, and financial metrics impacts are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. | |||||||||||
The following tables set forth, by level within the fair value hierarchy, Entergy's assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $262 | $- | $- | $262 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 418 | 2,470 | - | 2,888 | |||||||
Debt securities | 741 | 999 | - | 1,740 | |||||||
Power contracts | - | - | 85 | 85 | |||||||
Securitization recovery trust account | 50 | - | - | 50 | |||||||
Escrow accounts | 135 | - | - | 135 | |||||||
$1,606 | $3,469 | $85 | $5,160 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $36 | $36 | |||||||
Gas hedge contracts | 3 | - | - | 3 | |||||||
$3 | $- | $36 | $39 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $420 | $- | $- | $420 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 358 | 2,101 | - | 2,459 | |||||||
Debt securities | 769 | 962 | - | 1,731 | |||||||
Power contracts | - | - | 191 | 191 | |||||||
Securitization recovery trust account | 46 | - | - | 46 | |||||||
Escrow accounts | 386 | - | - | 386 | |||||||
$1,979 | $3,063 | $191 | $5,233 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $13 | $13 | |||||||
Gas hedge contracts | 8 | - | - | 8 | |||||||
$8 | $- | $13 | $21 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of July 1, | $83Â | $375Â | |||||||||
Unrealized gains (losses) from price changes | 9Â Â | -92 | |||||||||
Unrealized losses on originations | (1)Â | -Â | |||||||||
Realized losses included in earnings | (6)Â | -4 | |||||||||
Realized gains on settlements | (36)Â | -61 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of January 1, | $178Â | $312Â | |||||||||
Unrealized gains (losses) from price changes | -62 | 136Â | |||||||||
Unrealized gains on originations | -Â | 7Â | |||||||||
Realized losses included in earnings | -29 | -5 | |||||||||
Realized gains on settlements | -38 | -232 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy, and the valuation techniques and significant unobservable inputs to each which cause that classification, as of September 30, 2013: | |||||||||||
Fair Value | Range | ||||||||||
as of | from | ||||||||||
Transaction Type | September 30, | Significant | Average | Effect on | |||||||
2013 | Unobservable Inputs | % | Fair Value | ||||||||
Electricity swaps | $5 million | Unit contingent discount | +/- 3% | $- | |||||||
Electricity options | $44 million | Implied volatility | +/- 40% | $27 million | |||||||
The following table sets forth an analysis of each of the types of unobservable inputs impacting the fair value of items classified as Level 3 within the fair value hierarchy, and the sensitivity to changes to those inputs: | |||||||||||
Significant | |||||||||||
Unobservable | Effect on | ||||||||||
Input | Transaction Type | Position | Change to Input | Fair Value | |||||||
Unit contingent | |||||||||||
discount | Electricity swaps | Sell | Increase (Decrease) | Decrease (Increase) | |||||||
Implied volatility | Electricity options | Sell | Increase (Decrease) | Increase (Decrease) | |||||||
Implied volatility | Electricity options | Buy | Increase (Decrease) | Increase (Decrease) | |||||||
The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries' assets that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. | |||||||||||
Entergy Arkansas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $41.70 | $- | $- | $41.70 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.2 | 426.6 | - | 430.8 | |||||||
Debt securities | 68.8 | 170.2 | - | 239 | |||||||
Securitization recovery trust account | 7.9 | - | - | 7.9 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$160.60 | $596.80 | $- | $757.40 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $24.90 | $- | $- | $24.90 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 9.5 | 374.5 | - | 384 | |||||||
Debt securities | 94.3 | 122.3 | - | 216.6 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$171.10 | $496.80 | $- | $667.90 | ||||||||
Entergy Gulf States Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.6 | 341.6 | - | 347.2 | |||||||
Debt securities | 53.3 | 137.1 | - | 190.4 | |||||||
Escrow accounts | 21.5 | - | - | 21.5 | |||||||
$81.00 | $478.70 | $- | $559.70 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.30 | $- | $- | $1.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.5 | 283 | - | 288.5 | |||||||
Debt securities | 49.5 | 139.4 | - | 188.9 | |||||||
Escrow accounts | 87 | - | - | 87 | |||||||
$142.60 | $422.40 | $- | $565.00 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.60 | $- | $- | $2.60 | |||||||
Entergy Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $40.50 | $- | $- | $40.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.6 | 210.1 | - | 214.7 | |||||||
Debt securities | 51.8 | 58.9 | - | 110.7 | |||||||
Securitization recovery trust account | 10.5 | - | - | 10.5 | |||||||
$107.40 | $269.00 | $- | $376.40 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.40 | $- | $- | $1.40 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $29.30 | $- | $- | $29.30 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 2 | 173.5 | - | 175.5 | |||||||
Debt securities | 52.6 | 59.3 | - | 111.9 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 187 | - | - | 187 | |||||||
$275.30 | $232.80 | $- | $508.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $3.40 | $- | $- | $3.40 | |||||||
Entergy Mississippi | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Escrow accounts | $61.80 | $- | $- | $61.80 | |||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.30 | $- | $- | $0.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $52.40 | $- | $- | $52.40 | |||||||
Escrow accounts | 61.8 | - | - | 61.8 | |||||||
$114.20 | $- | $- | $114.20 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.20 | $- | $- | $2.20 | |||||||
Entergy New Orleans | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $14.40 | $- | $- | $14.40 | |||||||
Escrow accounts | 8.7 | - | - | 8.7 | |||||||
$23.10 | $- | $- | $23.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.20 | $- | $- | $0.20 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $9.10 | $- | $- | $9.10 | |||||||
Escrow accounts | 10.6 | - | - | 10.6 | |||||||
$19.70 | $- | $- | $19.70 | ||||||||
Entergy Texas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $19.70 | $- | $- | $19.70 | |||||||
Securitization recovery trust account | 31.4 | - | - | 31.4 | |||||||
$51.10 | $- | $- | $51.10 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $59.70 | $- | $- | $59.70 | |||||||
Securitization recovery trust account | 37.3 | - | - | 37.3 | |||||||
$97.00 | $- | $- | $97.00 | ||||||||
System Energy | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investment | $3.10 | $- | $- | $3.10 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1 | 342.8 | - | 343.8 | |||||||
Debt securities | 151.6 | 68 | - | 219.6 | |||||||
$155.70 | $410.80 | $- | $566.50 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $83.50 | $- | $- | $83.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1.6Â | 282 | - | 283.6 | |||||||
Debt securities | 141.1 | 65.9Â | - | 207.0Â | |||||||
$226.20 | $347.90 | $- | $574.10 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
Entergy Arkansas [Member] | ' | ||||||||||
Risk Management And Fair Values | ' | ||||||||||
NOTE 8. RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||
Market Risk | |||||||||||
In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. | |||||||||||
The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. | |||||||||||
As a wholesale generator, Entergy Wholesale Commodities's core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, put and/or call options, to mitigate forward commodity price risk. When market price falls, the combination of instruments is expected to settle in gains offsetting lower revenue from generation and resulting in a more predictable cash flow. | |||||||||||
Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy's risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy's objectives. | |||||||||||
Derivatives | |||||||||||
           Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy will occasionally enter into financially settled swap and option contracts to manage market risk under certain hedging transactions which may or may not be designated as hedging instruments. | |||||||||||
           Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. The maximum length of time over which Entergy is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2013 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 82% for the remainder of 2013, of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2013 is 11 TWh. | |||||||||||
           Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of September 30, 2013 is 19,081,000 MMBtu for Entergy, 7,600,000 MMBtu for Entergy Gulf States Louisiana, 8,540,000 MMBtu for Entergy Louisiana, 2,010,000 MMBtu for Entergy Mississippi, and 931,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. | |||||||||||
The fair values of Entergy's derivative instruments in the consolidated balance sheet as of September 30, 2013 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $50 | ($28) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $12 | ($7) | $5 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $40 | ($27) | $13 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $11 | ($7) | $4 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $78 | ($28) | $50 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $15 | ($7) | $8 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $39 | ($29) | $10 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $16 | ($7) | $9 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $3 | ($-) | $3 | Utility | ||||||
           The fair values of Entergy's derivative instruments in the consolidated balance sheet as of December 31, 2012 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $123 | ($-) | $123 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $46 | ($10) | $36 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $18 | ($11) | $7 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $22 | ($-) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $24 | ($14) | $10 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $19 | ($13) | $6 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $8 | ($-) | $8 | Utility | ||||||
(a) | Represents the gross amounts of recognized assets/liabilities | ||||||||||
(b) | Represents the netting of fair value balances with the same counterparty | ||||||||||
(c) | Represents the net amounts of assets /liabilities presented on the Entergy Consolidated Balance Sheets | ||||||||||
(d) | Excludes cash collateral in the amounts of $7 million and $56 million held as of September 30, 2013 and December 31, 2012, respectively | ||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of loss | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($4) million | Competitive businesses operating revenues | $35 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | ($108) million | Competitive businesses operating revenues | $61 million | ||||||||
           | |||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain (loss) | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($78) million | Competitive businesses operating revenues | $38 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | $120 million | Competitive businesses operating revenues | $232 million | ||||||||
           | |||||||||||
           Electricity over-the-counter instruments that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. Unrealized gains or losses recorded in other comprehensive income result from hedging power output at the Entergy Wholesale Commodities power plants. The related gains or losses from hedging power are included in operating revenues when realized. Gains totaling approximately $35 million and $61 million were realized on the maturity of cash flow hedges, before taxes of $13 million and $21 million, for the three months ended September 30, 2013 and 2012, respectively. Gains totaling approximately $38 million and $232 million were realized on the maturity of cash flow hedges, before taxes of $14 million and $81 million, for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the three months ended September 30, 2013 and 2012 was ($1.8) million and ($1.2) million, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the nine months ended September 30, 2013 and 2012 was ($2.3) million and ($1.6) million, respectively. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. | |||||||||||
           Based on market prices as of September 30, 2013, unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $7 million of net unrealized gains. Approximately $6 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, however, could vary due to future changes in market prices.   | |||||||||||
           Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide collateral to secure its obligations when the current market prices exceed the contracted power prices. The primary form of collateral to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2013, hedge contracts with five counterparties were in a liability position (approximately $32 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. As of September 30, 2012, hedge contracts with one counterparty were in a liability position (approximately $2 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date.  | |||||||||||
           Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction settles. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. | |||||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($1) million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $12 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $7 million | ||||||||
Electricity swaps and options de-designated as hedged items | $3 million | Competitive business operating revenues | ($7) million | ||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $8 million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $2 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($28) million | ||||||||
Electricity swaps and options de-designated as hedged items | $2 million | Competitive business operating revenues | ($6) million | ||||||||
Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. | |||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Fair Values | |||||||||||
           The estimated fair values of Entergy's financial instruments and derivatives are determined using bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not accrue to the benefit or detriment of shareholders. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. | |||||||||||
           Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. | |||||||||||
           Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: | |||||||||||
·        Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. See Note 1 to the financial statements in the Form 10-K for a discussion of cash and cash equivalents. | |||||||||||
·        Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: | |||||||||||
-Â Â Â quoted prices for similar assets or liabilities in active markets; | |||||||||||
-Â Â Â quoted prices for identical assets or liabilities in inactive markets; | |||||||||||
-Â Â Â inputs other than quoted prices that are observable for the asset or liability; or | |||||||||||
-Â Â Â inputs that are derived principally from or corroborated by observable market data | |||||||||||
          by correlation or other means. | |||||||||||
Level 2 consists primarily of individually-owned debt instruments or shares in common trusts. Common trust funds are stated at estimated fair value based on the fair market value of the underlying investments. | |||||||||||
·        Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management's best estimate of fair value for the asset or liability. Level 3 consists primarily of derivative power contracts used as cash flow hedges of power sales at merchant power plants. | |||||||||||
The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Entergy Wholesale Commodities Risk Control Group and sent to the Entergy Wholesale Commodities Back Office and Entergy Nuclear Finance groups for evaluation. The primary functions of the Entergy Wholesale Commodities Risk Control Group include: gathering, validating and reporting market data, providing market and credit risk analyses and valuations in support of Entergy Wholesale Commodities' commercial transactions, developing and administering protocols for the management of market and credit risks, implementing and maintaining controls around changes to market data in the energy trading and risk management system, reviewing creditworthiness of counterparties, supporting contract negotiations with new counterparties, administering credit support for contracts, and managing the daily margining process. The Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The primary functions of the Entergy Wholesale Commodities Back Office are market and counterparty settlements, revenue reporting and analysis and general ledger. The Entergy Wholesale Commodities Risk Control Group reports to the Vice President – Entergy Wholesale Commodities Chief Financial Officer while the Entergy Wholesale Commodities Back Office reports to the Controller, Competitive Operations. Entergy Nuclear Finance is primarily responsible for the financial planning of Entergy's utility and non-utility nuclear businesses. The VP, Chief Financial Officer – Nuclear Operations within Entergy Nuclear Finance reports to the Chief Accounting Officer. | |||||||||||
The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties' credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. | |||||||||||
The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. As of September 30, 2013, Entergy had in-the-money derivative contracts with a fair value of $85 million with counterparties or their guarantor who are all currently investment grade. As of September 30, 2013 $36 million of the derivative contracts are out-of-the-money contracts supported by corporate guarantees, which would require additional cash or letters of credit in the event of a decrease in Entergy Corporation's credit rating to below investment grade. | |||||||||||
On a daily basis, Entergy Wholesale Commodities calculates the mark-to-market for all derivative transactions. Entergy Wholesale Commodities Risk Control Group also validates forward market prices by comparing them to other sources of forward market prices and/or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices and/or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available, and using multiple sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities's portfolio. In particular, the credit, liquidity, and financial metrics impacts are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. | |||||||||||
The following tables set forth, by level within the fair value hierarchy, Entergy's assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $262 | $- | $- | $262 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 418 | 2,470 | - | 2,888 | |||||||
Debt securities | 741 | 999 | - | 1,740 | |||||||
Power contracts | - | - | 85 | 85 | |||||||
Securitization recovery trust account | 50 | - | - | 50 | |||||||
Escrow accounts | 135 | - | - | 135 | |||||||
$1,606 | $3,469 | $85 | $5,160 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $36 | $36 | |||||||
Gas hedge contracts | 3 | - | - | 3 | |||||||
$3 | $- | $36 | $39 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $420 | $- | $- | $420 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 358 | 2,101 | - | 2,459 | |||||||
Debt securities | 769 | 962 | - | 1,731 | |||||||
Power contracts | - | - | 191 | 191 | |||||||
Securitization recovery trust account | 46 | - | - | 46 | |||||||
Escrow accounts | 386 | - | - | 386 | |||||||
$1,979 | $3,063 | $191 | $5,233 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $13 | $13 | |||||||
Gas hedge contracts | 8 | - | - | 8 | |||||||
$8 | $- | $13 | $21 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of July 1, | $83Â | $375Â | |||||||||
Unrealized gains (losses) from price changes | 9Â Â | -92 | |||||||||
Unrealized losses on originations | (1)Â | -Â | |||||||||
Realized losses included in earnings | (6)Â | -4 | |||||||||
Realized gains on settlements | (36)Â | -61 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of January 1, | $178Â | $312Â | |||||||||
Unrealized gains (losses) from price changes | -62 | 136Â | |||||||||
Unrealized gains on originations | -Â | 7Â | |||||||||
Realized losses included in earnings | -29 | -5 | |||||||||
Realized gains on settlements | -38 | -232 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy, and the valuation techniques and significant unobservable inputs to each which cause that classification, as of September 30, 2013: | |||||||||||
Fair Value | Range | ||||||||||
as of | from | ||||||||||
Transaction Type | September 30, | Significant | Average | Effect on | |||||||
2013 | Unobservable Inputs | % | Fair Value | ||||||||
Electricity swaps | $5 million | Unit contingent discount | +/- 3% | $- | |||||||
Electricity options | $44 million | Implied volatility | +/- 40% | $27 million | |||||||
The following table sets forth an analysis of each of the types of unobservable inputs impacting the fair value of items classified as Level 3 within the fair value hierarchy, and the sensitivity to changes to those inputs: | |||||||||||
Significant | |||||||||||
Unobservable | Effect on | ||||||||||
Input | Transaction Type | Position | Change to Input | Fair Value | |||||||
Unit contingent | |||||||||||
discount | Electricity swaps | Sell | Increase (Decrease) | Decrease (Increase) | |||||||
Implied volatility | Electricity options | Sell | Increase (Decrease) | Increase (Decrease) | |||||||
Implied volatility | Electricity options | Buy | Increase (Decrease) | Increase (Decrease) | |||||||
The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries' assets that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. | |||||||||||
Entergy Arkansas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $41.70 | $- | $- | $41.70 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.2 | 426.6 | - | 430.8 | |||||||
Debt securities | 68.8 | 170.2 | - | 239 | |||||||
Securitization recovery trust account | 7.9 | - | - | 7.9 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$160.60 | $596.80 | $- | $757.40 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $24.90 | $- | $- | $24.90 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 9.5 | 374.5 | - | 384 | |||||||
Debt securities | 94.3 | 122.3 | - | 216.6 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$171.10 | $496.80 | $- | $667.90 | ||||||||
Entergy Gulf States Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.6 | 341.6 | - | 347.2 | |||||||
Debt securities | 53.3 | 137.1 | - | 190.4 | |||||||
Escrow accounts | 21.5 | - | - | 21.5 | |||||||
$81.00 | $478.70 | $- | $559.70 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.30 | $- | $- | $1.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.5 | 283 | - | 288.5 | |||||||
Debt securities | 49.5 | 139.4 | - | 188.9 | |||||||
Escrow accounts | 87 | - | - | 87 | |||||||
$142.60 | $422.40 | $- | $565.00 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.60 | $- | $- | $2.60 | |||||||
Entergy Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $40.50 | $- | $- | $40.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.6 | 210.1 | - | 214.7 | |||||||
Debt securities | 51.8 | 58.9 | - | 110.7 | |||||||
Securitization recovery trust account | 10.5 | - | - | 10.5 | |||||||
$107.40 | $269.00 | $- | $376.40 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.40 | $- | $- | $1.40 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $29.30 | $- | $- | $29.30 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 2 | 173.5 | - | 175.5 | |||||||
Debt securities | 52.6 | 59.3 | - | 111.9 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 187 | - | - | 187 | |||||||
$275.30 | $232.80 | $- | $508.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $3.40 | $- | $- | $3.40 | |||||||
Entergy Mississippi | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Escrow accounts | $61.80 | $- | $- | $61.80 | |||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.30 | $- | $- | $0.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $52.40 | $- | $- | $52.40 | |||||||
Escrow accounts | 61.8 | - | - | 61.8 | |||||||
$114.20 | $- | $- | $114.20 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.20 | $- | $- | $2.20 | |||||||
Entergy New Orleans | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $14.40 | $- | $- | $14.40 | |||||||
Escrow accounts | 8.7 | - | - | 8.7 | |||||||
$23.10 | $- | $- | $23.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.20 | $- | $- | $0.20 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $9.10 | $- | $- | $9.10 | |||||||
Escrow accounts | 10.6 | - | - | 10.6 | |||||||
$19.70 | $- | $- | $19.70 | ||||||||
Entergy Texas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $19.70 | $- | $- | $19.70 | |||||||
Securitization recovery trust account | 31.4 | - | - | 31.4 | |||||||
$51.10 | $- | $- | $51.10 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $59.70 | $- | $- | $59.70 | |||||||
Securitization recovery trust account | 37.3 | - | - | 37.3 | |||||||
$97.00 | $- | $- | $97.00 | ||||||||
System Energy | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investment | $3.10 | $- | $- | $3.10 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1 | 342.8 | - | 343.8 | |||||||
Debt securities | 151.6 | 68 | - | 219.6 | |||||||
$155.70 | $410.80 | $- | $566.50 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $83.50 | $- | $- | $83.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1.6Â | 282 | - | 283.6 | |||||||
Debt securities | 141.1 | 65.9Â | - | 207.0Â | |||||||
$226.20 | $347.90 | $- | $574.10 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
Entergy Gulf States Louisiana [Member] | ' | ||||||||||
Risk Management And Fair Values | ' | ||||||||||
NOTE 8. RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||
Market Risk | |||||||||||
In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. | |||||||||||
The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. | |||||||||||
As a wholesale generator, Entergy Wholesale Commodities's core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, put and/or call options, to mitigate forward commodity price risk. When market price falls, the combination of instruments is expected to settle in gains offsetting lower revenue from generation and resulting in a more predictable cash flow. | |||||||||||
Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy's risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy's objectives. | |||||||||||
Derivatives | |||||||||||
           Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy will occasionally enter into financially settled swap and option contracts to manage market risk under certain hedging transactions which may or may not be designated as hedging instruments. | |||||||||||
           Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. The maximum length of time over which Entergy is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2013 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 82% for the remainder of 2013, of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2013 is 11 TWh. | |||||||||||
           Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of September 30, 2013 is 19,081,000 MMBtu for Entergy, 7,600,000 MMBtu for Entergy Gulf States Louisiana, 8,540,000 MMBtu for Entergy Louisiana, 2,010,000 MMBtu for Entergy Mississippi, and 931,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. | |||||||||||
The fair values of Entergy's derivative instruments in the consolidated balance sheet as of September 30, 2013 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $50 | ($28) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $12 | ($7) | $5 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $40 | ($27) | $13 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $11 | ($7) | $4 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $78 | ($28) | $50 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $15 | ($7) | $8 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $39 | ($29) | $10 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $16 | ($7) | $9 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $3 | ($-) | $3 | Utility | ||||||
           The fair values of Entergy's derivative instruments in the consolidated balance sheet as of December 31, 2012 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $123 | ($-) | $123 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $46 | ($10) | $36 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $18 | ($11) | $7 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $22 | ($-) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $24 | ($14) | $10 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $19 | ($13) | $6 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $8 | ($-) | $8 | Utility | ||||||
(a) | Represents the gross amounts of recognized assets/liabilities | ||||||||||
(b) | Represents the netting of fair value balances with the same counterparty | ||||||||||
(c) | Represents the net amounts of assets /liabilities presented on the Entergy Consolidated Balance Sheets | ||||||||||
(d) | Excludes cash collateral in the amounts of $7 million and $56 million held as of September 30, 2013 and December 31, 2012, respectively | ||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of loss | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($4) million | Competitive businesses operating revenues | $35 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | ($108) million | Competitive businesses operating revenues | $61 million | ||||||||
           | |||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain (loss) | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($78) million | Competitive businesses operating revenues | $38 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | $120 million | Competitive businesses operating revenues | $232 million | ||||||||
           | |||||||||||
           Electricity over-the-counter instruments that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. Unrealized gains or losses recorded in other comprehensive income result from hedging power output at the Entergy Wholesale Commodities power plants. The related gains or losses from hedging power are included in operating revenues when realized. Gains totaling approximately $35 million and $61 million were realized on the maturity of cash flow hedges, before taxes of $13 million and $21 million, for the three months ended September 30, 2013 and 2012, respectively. Gains totaling approximately $38 million and $232 million were realized on the maturity of cash flow hedges, before taxes of $14 million and $81 million, for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the three months ended September 30, 2013 and 2012 was ($1.8) million and ($1.2) million, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the nine months ended September 30, 2013 and 2012 was ($2.3) million and ($1.6) million, respectively. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. | |||||||||||
           Based on market prices as of September 30, 2013, unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $7 million of net unrealized gains. Approximately $6 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, however, could vary due to future changes in market prices.   | |||||||||||
           Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide collateral to secure its obligations when the current market prices exceed the contracted power prices. The primary form of collateral to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2013, hedge contracts with five counterparties were in a liability position (approximately $32 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. As of September 30, 2012, hedge contracts with one counterparty were in a liability position (approximately $2 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date.  | |||||||||||
           Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction settles. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. | |||||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($1) million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $12 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $7 million | ||||||||
Electricity swaps and options de-designated as hedged items | $3 million | Competitive business operating revenues | ($7) million | ||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $8 million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $2 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($28) million | ||||||||
Electricity swaps and options de-designated as hedged items | $2 million | Competitive business operating revenues | ($6) million | ||||||||
Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. | |||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Fair Values | |||||||||||
           The estimated fair values of Entergy's financial instruments and derivatives are determined using bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not accrue to the benefit or detriment of shareholders. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. | |||||||||||
           Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. | |||||||||||
           Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: | |||||||||||
·        Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. See Note 1 to the financial statements in the Form 10-K for a discussion of cash and cash equivalents. | |||||||||||
·        Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: | |||||||||||
-Â Â Â quoted prices for similar assets or liabilities in active markets; | |||||||||||
-Â Â Â quoted prices for identical assets or liabilities in inactive markets; | |||||||||||
-Â Â Â inputs other than quoted prices that are observable for the asset or liability; or | |||||||||||
-Â Â Â inputs that are derived principally from or corroborated by observable market data | |||||||||||
          by correlation or other means. | |||||||||||
Level 2 consists primarily of individually-owned debt instruments or shares in common trusts. Common trust funds are stated at estimated fair value based on the fair market value of the underlying investments. | |||||||||||
·        Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management's best estimate of fair value for the asset or liability. Level 3 consists primarily of derivative power contracts used as cash flow hedges of power sales at merchant power plants. | |||||||||||
The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Entergy Wholesale Commodities Risk Control Group and sent to the Entergy Wholesale Commodities Back Office and Entergy Nuclear Finance groups for evaluation. The primary functions of the Entergy Wholesale Commodities Risk Control Group include: gathering, validating and reporting market data, providing market and credit risk analyses and valuations in support of Entergy Wholesale Commodities' commercial transactions, developing and administering protocols for the management of market and credit risks, implementing and maintaining controls around changes to market data in the energy trading and risk management system, reviewing creditworthiness of counterparties, supporting contract negotiations with new counterparties, administering credit support for contracts, and managing the daily margining process. The Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The primary functions of the Entergy Wholesale Commodities Back Office are market and counterparty settlements, revenue reporting and analysis and general ledger. The Entergy Wholesale Commodities Risk Control Group reports to the Vice President – Entergy Wholesale Commodities Chief Financial Officer while the Entergy Wholesale Commodities Back Office reports to the Controller, Competitive Operations. Entergy Nuclear Finance is primarily responsible for the financial planning of Entergy's utility and non-utility nuclear businesses. The VP, Chief Financial Officer – Nuclear Operations within Entergy Nuclear Finance reports to the Chief Accounting Officer. | |||||||||||
The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties' credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. | |||||||||||
The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. As of September 30, 2013, Entergy had in-the-money derivative contracts with a fair value of $85 million with counterparties or their guarantor who are all currently investment grade. As of September 30, 2013 $36 million of the derivative contracts are out-of-the-money contracts supported by corporate guarantees, which would require additional cash or letters of credit in the event of a decrease in Entergy Corporation's credit rating to below investment grade. | |||||||||||
On a daily basis, Entergy Wholesale Commodities calculates the mark-to-market for all derivative transactions. Entergy Wholesale Commodities Risk Control Group also validates forward market prices by comparing them to other sources of forward market prices and/or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices and/or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available, and using multiple sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities's portfolio. In particular, the credit, liquidity, and financial metrics impacts are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. | |||||||||||
The following tables set forth, by level within the fair value hierarchy, Entergy's assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $262 | $- | $- | $262 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 418 | 2,470 | - | 2,888 | |||||||
Debt securities | 741 | 999 | - | 1,740 | |||||||
Power contracts | - | - | 85 | 85 | |||||||
Securitization recovery trust account | 50 | - | - | 50 | |||||||
Escrow accounts | 135 | - | - | 135 | |||||||
$1,606 | $3,469 | $85 | $5,160 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $36 | $36 | |||||||
Gas hedge contracts | 3 | - | - | 3 | |||||||
$3 | $- | $36 | $39 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $420 | $- | $- | $420 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 358 | 2,101 | - | 2,459 | |||||||
Debt securities | 769 | 962 | - | 1,731 | |||||||
Power contracts | - | - | 191 | 191 | |||||||
Securitization recovery trust account | 46 | - | - | 46 | |||||||
Escrow accounts | 386 | - | - | 386 | |||||||
$1,979 | $3,063 | $191 | $5,233 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $13 | $13 | |||||||
Gas hedge contracts | 8 | - | - | 8 | |||||||
$8 | $- | $13 | $21 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of July 1, | $83Â | $375Â | |||||||||
Unrealized gains (losses) from price changes | 9Â Â | -92 | |||||||||
Unrealized losses on originations | (1)Â | -Â | |||||||||
Realized losses included in earnings | (6)Â | -4 | |||||||||
Realized gains on settlements | (36)Â | -61 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of January 1, | $178Â | $312Â | |||||||||
Unrealized gains (losses) from price changes | -62 | 136Â | |||||||||
Unrealized gains on originations | -Â | 7Â | |||||||||
Realized losses included in earnings | -29 | -5 | |||||||||
Realized gains on settlements | -38 | -232 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy, and the valuation techniques and significant unobservable inputs to each which cause that classification, as of September 30, 2013: | |||||||||||
Fair Value | Range | ||||||||||
as of | from | ||||||||||
Transaction Type | September 30, | Significant | Average | Effect on | |||||||
2013 | Unobservable Inputs | % | Fair Value | ||||||||
Electricity swaps | $5 million | Unit contingent discount | +/- 3% | $- | |||||||
Electricity options | $44 million | Implied volatility | +/- 40% | $27 million | |||||||
The following table sets forth an analysis of each of the types of unobservable inputs impacting the fair value of items classified as Level 3 within the fair value hierarchy, and the sensitivity to changes to those inputs: | |||||||||||
Significant | |||||||||||
Unobservable | Effect on | ||||||||||
Input | Transaction Type | Position | Change to Input | Fair Value | |||||||
Unit contingent | |||||||||||
discount | Electricity swaps | Sell | Increase (Decrease) | Decrease (Increase) | |||||||
Implied volatility | Electricity options | Sell | Increase (Decrease) | Increase (Decrease) | |||||||
Implied volatility | Electricity options | Buy | Increase (Decrease) | Increase (Decrease) | |||||||
The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries' assets that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. | |||||||||||
Entergy Arkansas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $41.70 | $- | $- | $41.70 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.2 | 426.6 | - | 430.8 | |||||||
Debt securities | 68.8 | 170.2 | - | 239 | |||||||
Securitization recovery trust account | 7.9 | - | - | 7.9 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$160.60 | $596.80 | $- | $757.40 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $24.90 | $- | $- | $24.90 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 9.5 | 374.5 | - | 384 | |||||||
Debt securities | 94.3 | 122.3 | - | 216.6 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$171.10 | $496.80 | $- | $667.90 | ||||||||
Entergy Gulf States Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.6 | 341.6 | - | 347.2 | |||||||
Debt securities | 53.3 | 137.1 | - | 190.4 | |||||||
Escrow accounts | 21.5 | - | - | 21.5 | |||||||
$81.00 | $478.70 | $- | $559.70 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.30 | $- | $- | $1.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.5 | 283 | - | 288.5 | |||||||
Debt securities | 49.5 | 139.4 | - | 188.9 | |||||||
Escrow accounts | 87 | - | - | 87 | |||||||
$142.60 | $422.40 | $- | $565.00 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.60 | $- | $- | $2.60 | |||||||
Entergy Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $40.50 | $- | $- | $40.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.6 | 210.1 | - | 214.7 | |||||||
Debt securities | 51.8 | 58.9 | - | 110.7 | |||||||
Securitization recovery trust account | 10.5 | - | - | 10.5 | |||||||
$107.40 | $269.00 | $- | $376.40 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.40 | $- | $- | $1.40 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $29.30 | $- | $- | $29.30 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 2 | 173.5 | - | 175.5 | |||||||
Debt securities | 52.6 | 59.3 | - | 111.9 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 187 | - | - | 187 | |||||||
$275.30 | $232.80 | $- | $508.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $3.40 | $- | $- | $3.40 | |||||||
Entergy Mississippi | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Escrow accounts | $61.80 | $- | $- | $61.80 | |||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.30 | $- | $- | $0.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $52.40 | $- | $- | $52.40 | |||||||
Escrow accounts | 61.8 | - | - | 61.8 | |||||||
$114.20 | $- | $- | $114.20 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.20 | $- | $- | $2.20 | |||||||
Entergy New Orleans | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $14.40 | $- | $- | $14.40 | |||||||
Escrow accounts | 8.7 | - | - | 8.7 | |||||||
$23.10 | $- | $- | $23.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.20 | $- | $- | $0.20 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $9.10 | $- | $- | $9.10 | |||||||
Escrow accounts | 10.6 | - | - | 10.6 | |||||||
$19.70 | $- | $- | $19.70 | ||||||||
Entergy Texas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $19.70 | $- | $- | $19.70 | |||||||
Securitization recovery trust account | 31.4 | - | - | 31.4 | |||||||
$51.10 | $- | $- | $51.10 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $59.70 | $- | $- | $59.70 | |||||||
Securitization recovery trust account | 37.3 | - | - | 37.3 | |||||||
$97.00 | $- | $- | $97.00 | ||||||||
System Energy | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investment | $3.10 | $- | $- | $3.10 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1 | 342.8 | - | 343.8 | |||||||
Debt securities | 151.6 | 68 | - | 219.6 | |||||||
$155.70 | $410.80 | $- | $566.50 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $83.50 | $- | $- | $83.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1.6Â | 282 | - | 283.6 | |||||||
Debt securities | 141.1 | 65.9Â | - | 207.0Â | |||||||
$226.20 | $347.90 | $- | $574.10 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
Entergy Louisiana [Member] | ' | ||||||||||
Risk Management And Fair Values | ' | ||||||||||
NOTE 8. RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||
Market Risk | |||||||||||
In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. | |||||||||||
The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. | |||||||||||
As a wholesale generator, Entergy Wholesale Commodities's core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, put and/or call options, to mitigate forward commodity price risk. When market price falls, the combination of instruments is expected to settle in gains offsetting lower revenue from generation and resulting in a more predictable cash flow. | |||||||||||
Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy's risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy's objectives. | |||||||||||
Derivatives | |||||||||||
           Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy will occasionally enter into financially settled swap and option contracts to manage market risk under certain hedging transactions which may or may not be designated as hedging instruments. | |||||||||||
           Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. The maximum length of time over which Entergy is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2013 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 82% for the remainder of 2013, of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2013 is 11 TWh. | |||||||||||
           Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of September 30, 2013 is 19,081,000 MMBtu for Entergy, 7,600,000 MMBtu for Entergy Gulf States Louisiana, 8,540,000 MMBtu for Entergy Louisiana, 2,010,000 MMBtu for Entergy Mississippi, and 931,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. | |||||||||||
The fair values of Entergy's derivative instruments in the consolidated balance sheet as of September 30, 2013 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $50 | ($28) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $12 | ($7) | $5 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $40 | ($27) | $13 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $11 | ($7) | $4 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $78 | ($28) | $50 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $15 | ($7) | $8 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $39 | ($29) | $10 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $16 | ($7) | $9 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $3 | ($-) | $3 | Utility | ||||||
           The fair values of Entergy's derivative instruments in the consolidated balance sheet as of December 31, 2012 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $123 | ($-) | $123 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $46 | ($10) | $36 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $18 | ($11) | $7 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $22 | ($-) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $24 | ($14) | $10 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $19 | ($13) | $6 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $8 | ($-) | $8 | Utility | ||||||
(a) | Represents the gross amounts of recognized assets/liabilities | ||||||||||
(b) | Represents the netting of fair value balances with the same counterparty | ||||||||||
(c) | Represents the net amounts of assets /liabilities presented on the Entergy Consolidated Balance Sheets | ||||||||||
(d) | Excludes cash collateral in the amounts of $7 million and $56 million held as of September 30, 2013 and December 31, 2012, respectively | ||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of loss | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($4) million | Competitive businesses operating revenues | $35 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | ($108) million | Competitive businesses operating revenues | $61 million | ||||||||
           | |||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain (loss) | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($78) million | Competitive businesses operating revenues | $38 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | $120 million | Competitive businesses operating revenues | $232 million | ||||||||
           | |||||||||||
           Electricity over-the-counter instruments that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. Unrealized gains or losses recorded in other comprehensive income result from hedging power output at the Entergy Wholesale Commodities power plants. The related gains or losses from hedging power are included in operating revenues when realized. Gains totaling approximately $35 million and $61 million were realized on the maturity of cash flow hedges, before taxes of $13 million and $21 million, for the three months ended September 30, 2013 and 2012, respectively. Gains totaling approximately $38 million and $232 million were realized on the maturity of cash flow hedges, before taxes of $14 million and $81 million, for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the three months ended September 30, 2013 and 2012 was ($1.8) million and ($1.2) million, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the nine months ended September 30, 2013 and 2012 was ($2.3) million and ($1.6) million, respectively. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. | |||||||||||
           Based on market prices as of September 30, 2013, unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $7 million of net unrealized gains. Approximately $6 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, however, could vary due to future changes in market prices.   | |||||||||||
           Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide collateral to secure its obligations when the current market prices exceed the contracted power prices. The primary form of collateral to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2013, hedge contracts with five counterparties were in a liability position (approximately $32 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. As of September 30, 2012, hedge contracts with one counterparty were in a liability position (approximately $2 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date.  | |||||||||||
           Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction settles. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. | |||||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($1) million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $12 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $7 million | ||||||||
Electricity swaps and options de-designated as hedged items | $3 million | Competitive business operating revenues | ($7) million | ||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $8 million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $2 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($28) million | ||||||||
Electricity swaps and options de-designated as hedged items | $2 million | Competitive business operating revenues | ($6) million | ||||||||
Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. | |||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Fair Values | |||||||||||
           The estimated fair values of Entergy's financial instruments and derivatives are determined using bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not accrue to the benefit or detriment of shareholders. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. | |||||||||||
           Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. | |||||||||||
           Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: | |||||||||||
·        Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. See Note 1 to the financial statements in the Form 10-K for a discussion of cash and cash equivalents. | |||||||||||
·        Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: | |||||||||||
-Â Â Â quoted prices for similar assets or liabilities in active markets; | |||||||||||
-Â Â Â quoted prices for identical assets or liabilities in inactive markets; | |||||||||||
-Â Â Â inputs other than quoted prices that are observable for the asset or liability; or | |||||||||||
-Â Â Â inputs that are derived principally from or corroborated by observable market data | |||||||||||
          by correlation or other means. | |||||||||||
Level 2 consists primarily of individually-owned debt instruments or shares in common trusts. Common trust funds are stated at estimated fair value based on the fair market value of the underlying investments. | |||||||||||
·        Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management's best estimate of fair value for the asset or liability. Level 3 consists primarily of derivative power contracts used as cash flow hedges of power sales at merchant power plants. | |||||||||||
The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Entergy Wholesale Commodities Risk Control Group and sent to the Entergy Wholesale Commodities Back Office and Entergy Nuclear Finance groups for evaluation. The primary functions of the Entergy Wholesale Commodities Risk Control Group include: gathering, validating and reporting market data, providing market and credit risk analyses and valuations in support of Entergy Wholesale Commodities' commercial transactions, developing and administering protocols for the management of market and credit risks, implementing and maintaining controls around changes to market data in the energy trading and risk management system, reviewing creditworthiness of counterparties, supporting contract negotiations with new counterparties, administering credit support for contracts, and managing the daily margining process. The Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The primary functions of the Entergy Wholesale Commodities Back Office are market and counterparty settlements, revenue reporting and analysis and general ledger. The Entergy Wholesale Commodities Risk Control Group reports to the Vice President – Entergy Wholesale Commodities Chief Financial Officer while the Entergy Wholesale Commodities Back Office reports to the Controller, Competitive Operations. Entergy Nuclear Finance is primarily responsible for the financial planning of Entergy's utility and non-utility nuclear businesses. The VP, Chief Financial Officer – Nuclear Operations within Entergy Nuclear Finance reports to the Chief Accounting Officer. | |||||||||||
The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties' credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. | |||||||||||
The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. As of September 30, 2013, Entergy had in-the-money derivative contracts with a fair value of $85 million with counterparties or their guarantor who are all currently investment grade. As of September 30, 2013 $36 million of the derivative contracts are out-of-the-money contracts supported by corporate guarantees, which would require additional cash or letters of credit in the event of a decrease in Entergy Corporation's credit rating to below investment grade. | |||||||||||
On a daily basis, Entergy Wholesale Commodities calculates the mark-to-market for all derivative transactions. Entergy Wholesale Commodities Risk Control Group also validates forward market prices by comparing them to other sources of forward market prices and/or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices and/or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available, and using multiple sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities's portfolio. In particular, the credit, liquidity, and financial metrics impacts are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. | |||||||||||
The following tables set forth, by level within the fair value hierarchy, Entergy's assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $262 | $- | $- | $262 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 418 | 2,470 | - | 2,888 | |||||||
Debt securities | 741 | 999 | - | 1,740 | |||||||
Power contracts | - | - | 85 | 85 | |||||||
Securitization recovery trust account | 50 | - | - | 50 | |||||||
Escrow accounts | 135 | - | - | 135 | |||||||
$1,606 | $3,469 | $85 | $5,160 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $36 | $36 | |||||||
Gas hedge contracts | 3 | - | - | 3 | |||||||
$3 | $- | $36 | $39 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $420 | $- | $- | $420 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 358 | 2,101 | - | 2,459 | |||||||
Debt securities | 769 | 962 | - | 1,731 | |||||||
Power contracts | - | - | 191 | 191 | |||||||
Securitization recovery trust account | 46 | - | - | 46 | |||||||
Escrow accounts | 386 | - | - | 386 | |||||||
$1,979 | $3,063 | $191 | $5,233 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $13 | $13 | |||||||
Gas hedge contracts | 8 | - | - | 8 | |||||||
$8 | $- | $13 | $21 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of July 1, | $83Â | $375Â | |||||||||
Unrealized gains (losses) from price changes | 9Â Â | -92 | |||||||||
Unrealized losses on originations | (1)Â | -Â | |||||||||
Realized losses included in earnings | (6)Â | -4 | |||||||||
Realized gains on settlements | (36)Â | -61 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of January 1, | $178Â | $312Â | |||||||||
Unrealized gains (losses) from price changes | -62 | 136Â | |||||||||
Unrealized gains on originations | -Â | 7Â | |||||||||
Realized losses included in earnings | -29 | -5 | |||||||||
Realized gains on settlements | -38 | -232 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy, and the valuation techniques and significant unobservable inputs to each which cause that classification, as of September 30, 2013: | |||||||||||
Fair Value | Range | ||||||||||
as of | from | ||||||||||
Transaction Type | September 30, | Significant | Average | Effect on | |||||||
2013 | Unobservable Inputs | % | Fair Value | ||||||||
Electricity swaps | $5 million | Unit contingent discount | +/- 3% | $- | |||||||
Electricity options | $44 million | Implied volatility | +/- 40% | $27 million | |||||||
The following table sets forth an analysis of each of the types of unobservable inputs impacting the fair value of items classified as Level 3 within the fair value hierarchy, and the sensitivity to changes to those inputs: | |||||||||||
Significant | |||||||||||
Unobservable | Effect on | ||||||||||
Input | Transaction Type | Position | Change to Input | Fair Value | |||||||
Unit contingent | |||||||||||
discount | Electricity swaps | Sell | Increase (Decrease) | Decrease (Increase) | |||||||
Implied volatility | Electricity options | Sell | Increase (Decrease) | Increase (Decrease) | |||||||
Implied volatility | Electricity options | Buy | Increase (Decrease) | Increase (Decrease) | |||||||
The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries' assets that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. | |||||||||||
Entergy Arkansas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $41.70 | $- | $- | $41.70 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.2 | 426.6 | - | 430.8 | |||||||
Debt securities | 68.8 | 170.2 | - | 239 | |||||||
Securitization recovery trust account | 7.9 | - | - | 7.9 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$160.60 | $596.80 | $- | $757.40 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $24.90 | $- | $- | $24.90 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 9.5 | 374.5 | - | 384 | |||||||
Debt securities | 94.3 | 122.3 | - | 216.6 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$171.10 | $496.80 | $- | $667.90 | ||||||||
Entergy Gulf States Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.6 | 341.6 | - | 347.2 | |||||||
Debt securities | 53.3 | 137.1 | - | 190.4 | |||||||
Escrow accounts | 21.5 | - | - | 21.5 | |||||||
$81.00 | $478.70 | $- | $559.70 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.30 | $- | $- | $1.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.5 | 283 | - | 288.5 | |||||||
Debt securities | 49.5 | 139.4 | - | 188.9 | |||||||
Escrow accounts | 87 | - | - | 87 | |||||||
$142.60 | $422.40 | $- | $565.00 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.60 | $- | $- | $2.60 | |||||||
Entergy Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $40.50 | $- | $- | $40.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.6 | 210.1 | - | 214.7 | |||||||
Debt securities | 51.8 | 58.9 | - | 110.7 | |||||||
Securitization recovery trust account | 10.5 | - | - | 10.5 | |||||||
$107.40 | $269.00 | $- | $376.40 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.40 | $- | $- | $1.40 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $29.30 | $- | $- | $29.30 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 2 | 173.5 | - | 175.5 | |||||||
Debt securities | 52.6 | 59.3 | - | 111.9 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 187 | - | - | 187 | |||||||
$275.30 | $232.80 | $- | $508.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $3.40 | $- | $- | $3.40 | |||||||
Entergy Mississippi | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Escrow accounts | $61.80 | $- | $- | $61.80 | |||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.30 | $- | $- | $0.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $52.40 | $- | $- | $52.40 | |||||||
Escrow accounts | 61.8 | - | - | 61.8 | |||||||
$114.20 | $- | $- | $114.20 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.20 | $- | $- | $2.20 | |||||||
Entergy New Orleans | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $14.40 | $- | $- | $14.40 | |||||||
Escrow accounts | 8.7 | - | - | 8.7 | |||||||
$23.10 | $- | $- | $23.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.20 | $- | $- | $0.20 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $9.10 | $- | $- | $9.10 | |||||||
Escrow accounts | 10.6 | - | - | 10.6 | |||||||
$19.70 | $- | $- | $19.70 | ||||||||
Entergy Texas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $19.70 | $- | $- | $19.70 | |||||||
Securitization recovery trust account | 31.4 | - | - | 31.4 | |||||||
$51.10 | $- | $- | $51.10 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $59.70 | $- | $- | $59.70 | |||||||
Securitization recovery trust account | 37.3 | - | - | 37.3 | |||||||
$97.00 | $- | $- | $97.00 | ||||||||
System Energy | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investment | $3.10 | $- | $- | $3.10 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1 | 342.8 | - | 343.8 | |||||||
Debt securities | 151.6 | 68 | - | 219.6 | |||||||
$155.70 | $410.80 | $- | $566.50 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $83.50 | $- | $- | $83.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1.6Â | 282 | - | 283.6 | |||||||
Debt securities | 141.1 | 65.9Â | - | 207.0Â | |||||||
$226.20 | $347.90 | $- | $574.10 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
Entergy Mississippi [Member] | ' | ||||||||||
Risk Management And Fair Values | ' | ||||||||||
NOTE 8. RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||
Market Risk | |||||||||||
In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. | |||||||||||
The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. | |||||||||||
As a wholesale generator, Entergy Wholesale Commodities's core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, put and/or call options, to mitigate forward commodity price risk. When market price falls, the combination of instruments is expected to settle in gains offsetting lower revenue from generation and resulting in a more predictable cash flow. | |||||||||||
Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy's risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy's objectives. | |||||||||||
Derivatives | |||||||||||
           Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy will occasionally enter into financially settled swap and option contracts to manage market risk under certain hedging transactions which may or may not be designated as hedging instruments. | |||||||||||
           Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. The maximum length of time over which Entergy is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2013 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 82% for the remainder of 2013, of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2013 is 11 TWh. | |||||||||||
           Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of September 30, 2013 is 19,081,000 MMBtu for Entergy, 7,600,000 MMBtu for Entergy Gulf States Louisiana, 8,540,000 MMBtu for Entergy Louisiana, 2,010,000 MMBtu for Entergy Mississippi, and 931,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. | |||||||||||
The fair values of Entergy's derivative instruments in the consolidated balance sheet as of September 30, 2013 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $50 | ($28) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $12 | ($7) | $5 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $40 | ($27) | $13 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $11 | ($7) | $4 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $78 | ($28) | $50 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $15 | ($7) | $8 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $39 | ($29) | $10 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $16 | ($7) | $9 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $3 | ($-) | $3 | Utility | ||||||
           The fair values of Entergy's derivative instruments in the consolidated balance sheet as of December 31, 2012 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $123 | ($-) | $123 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $46 | ($10) | $36 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $18 | ($11) | $7 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $22 | ($-) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $24 | ($14) | $10 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $19 | ($13) | $6 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $8 | ($-) | $8 | Utility | ||||||
(a) | Represents the gross amounts of recognized assets/liabilities | ||||||||||
(b) | Represents the netting of fair value balances with the same counterparty | ||||||||||
(c) | Represents the net amounts of assets /liabilities presented on the Entergy Consolidated Balance Sheets | ||||||||||
(d) | Excludes cash collateral in the amounts of $7 million and $56 million held as of September 30, 2013 and December 31, 2012, respectively | ||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of loss | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($4) million | Competitive businesses operating revenues | $35 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | ($108) million | Competitive businesses operating revenues | $61 million | ||||||||
           | |||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain (loss) | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($78) million | Competitive businesses operating revenues | $38 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | $120 million | Competitive businesses operating revenues | $232 million | ||||||||
           | |||||||||||
           Electricity over-the-counter instruments that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. Unrealized gains or losses recorded in other comprehensive income result from hedging power output at the Entergy Wholesale Commodities power plants. The related gains or losses from hedging power are included in operating revenues when realized. Gains totaling approximately $35 million and $61 million were realized on the maturity of cash flow hedges, before taxes of $13 million and $21 million, for the three months ended September 30, 2013 and 2012, respectively. Gains totaling approximately $38 million and $232 million were realized on the maturity of cash flow hedges, before taxes of $14 million and $81 million, for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the three months ended September 30, 2013 and 2012 was ($1.8) million and ($1.2) million, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the nine months ended September 30, 2013 and 2012 was ($2.3) million and ($1.6) million, respectively. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. | |||||||||||
           Based on market prices as of September 30, 2013, unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $7 million of net unrealized gains. Approximately $6 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, however, could vary due to future changes in market prices.   | |||||||||||
           Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide collateral to secure its obligations when the current market prices exceed the contracted power prices. The primary form of collateral to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2013, hedge contracts with five counterparties were in a liability position (approximately $32 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. As of September 30, 2012, hedge contracts with one counterparty were in a liability position (approximately $2 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date.  | |||||||||||
           Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction settles. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. | |||||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($1) million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $12 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $7 million | ||||||||
Electricity swaps and options de-designated as hedged items | $3 million | Competitive business operating revenues | ($7) million | ||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $8 million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $2 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($28) million | ||||||||
Electricity swaps and options de-designated as hedged items | $2 million | Competitive business operating revenues | ($6) million | ||||||||
Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. | |||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Fair Values | |||||||||||
           The estimated fair values of Entergy's financial instruments and derivatives are determined using bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not accrue to the benefit or detriment of shareholders. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. | |||||||||||
           Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. | |||||||||||
           Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: | |||||||||||
·        Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. See Note 1 to the financial statements in the Form 10-K for a discussion of cash and cash equivalents. | |||||||||||
·        Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: | |||||||||||
-Â Â Â quoted prices for similar assets or liabilities in active markets; | |||||||||||
-Â Â Â quoted prices for identical assets or liabilities in inactive markets; | |||||||||||
-Â Â Â inputs other than quoted prices that are observable for the asset or liability; or | |||||||||||
-Â Â Â inputs that are derived principally from or corroborated by observable market data | |||||||||||
          by correlation or other means. | |||||||||||
Level 2 consists primarily of individually-owned debt instruments or shares in common trusts. Common trust funds are stated at estimated fair value based on the fair market value of the underlying investments. | |||||||||||
·        Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management's best estimate of fair value for the asset or liability. Level 3 consists primarily of derivative power contracts used as cash flow hedges of power sales at merchant power plants. | |||||||||||
The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Entergy Wholesale Commodities Risk Control Group and sent to the Entergy Wholesale Commodities Back Office and Entergy Nuclear Finance groups for evaluation. The primary functions of the Entergy Wholesale Commodities Risk Control Group include: gathering, validating and reporting market data, providing market and credit risk analyses and valuations in support of Entergy Wholesale Commodities' commercial transactions, developing and administering protocols for the management of market and credit risks, implementing and maintaining controls around changes to market data in the energy trading and risk management system, reviewing creditworthiness of counterparties, supporting contract negotiations with new counterparties, administering credit support for contracts, and managing the daily margining process. The Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The primary functions of the Entergy Wholesale Commodities Back Office are market and counterparty settlements, revenue reporting and analysis and general ledger. The Entergy Wholesale Commodities Risk Control Group reports to the Vice President – Entergy Wholesale Commodities Chief Financial Officer while the Entergy Wholesale Commodities Back Office reports to the Controller, Competitive Operations. Entergy Nuclear Finance is primarily responsible for the financial planning of Entergy's utility and non-utility nuclear businesses. The VP, Chief Financial Officer – Nuclear Operations within Entergy Nuclear Finance reports to the Chief Accounting Officer. | |||||||||||
The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties' credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. | |||||||||||
The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. As of September 30, 2013, Entergy had in-the-money derivative contracts with a fair value of $85 million with counterparties or their guarantor who are all currently investment grade. As of September 30, 2013 $36 million of the derivative contracts are out-of-the-money contracts supported by corporate guarantees, which would require additional cash or letters of credit in the event of a decrease in Entergy Corporation's credit rating to below investment grade. | |||||||||||
On a daily basis, Entergy Wholesale Commodities calculates the mark-to-market for all derivative transactions. Entergy Wholesale Commodities Risk Control Group also validates forward market prices by comparing them to other sources of forward market prices and/or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices and/or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available, and using multiple sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities's portfolio. In particular, the credit, liquidity, and financial metrics impacts are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. | |||||||||||
The following tables set forth, by level within the fair value hierarchy, Entergy's assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $262 | $- | $- | $262 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 418 | 2,470 | - | 2,888 | |||||||
Debt securities | 741 | 999 | - | 1,740 | |||||||
Power contracts | - | - | 85 | 85 | |||||||
Securitization recovery trust account | 50 | - | - | 50 | |||||||
Escrow accounts | 135 | - | - | 135 | |||||||
$1,606 | $3,469 | $85 | $5,160 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $36 | $36 | |||||||
Gas hedge contracts | 3 | - | - | 3 | |||||||
$3 | $- | $36 | $39 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $420 | $- | $- | $420 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 358 | 2,101 | - | 2,459 | |||||||
Debt securities | 769 | 962 | - | 1,731 | |||||||
Power contracts | - | - | 191 | 191 | |||||||
Securitization recovery trust account | 46 | - | - | 46 | |||||||
Escrow accounts | 386 | - | - | 386 | |||||||
$1,979 | $3,063 | $191 | $5,233 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $13 | $13 | |||||||
Gas hedge contracts | 8 | - | - | 8 | |||||||
$8 | $- | $13 | $21 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of July 1, | $83Â | $375Â | |||||||||
Unrealized gains (losses) from price changes | 9Â Â | -92 | |||||||||
Unrealized losses on originations | (1)Â | -Â | |||||||||
Realized losses included in earnings | (6)Â | -4 | |||||||||
Realized gains on settlements | (36)Â | -61 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of January 1, | $178Â | $312Â | |||||||||
Unrealized gains (losses) from price changes | -62 | 136Â | |||||||||
Unrealized gains on originations | -Â | 7Â | |||||||||
Realized losses included in earnings | -29 | -5 | |||||||||
Realized gains on settlements | -38 | -232 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy, and the valuation techniques and significant unobservable inputs to each which cause that classification, as of September 30, 2013: | |||||||||||
Fair Value | Range | ||||||||||
as of | from | ||||||||||
Transaction Type | September 30, | Significant | Average | Effect on | |||||||
2013 | Unobservable Inputs | % | Fair Value | ||||||||
Electricity swaps | $5 million | Unit contingent discount | +/- 3% | $- | |||||||
Electricity options | $44 million | Implied volatility | +/- 40% | $27 million | |||||||
The following table sets forth an analysis of each of the types of unobservable inputs impacting the fair value of items classified as Level 3 within the fair value hierarchy, and the sensitivity to changes to those inputs: | |||||||||||
Significant | |||||||||||
Unobservable | Effect on | ||||||||||
Input | Transaction Type | Position | Change to Input | Fair Value | |||||||
Unit contingent | |||||||||||
discount | Electricity swaps | Sell | Increase (Decrease) | Decrease (Increase) | |||||||
Implied volatility | Electricity options | Sell | Increase (Decrease) | Increase (Decrease) | |||||||
Implied volatility | Electricity options | Buy | Increase (Decrease) | Increase (Decrease) | |||||||
The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries' assets that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. | |||||||||||
Entergy Arkansas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $41.70 | $- | $- | $41.70 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.2 | 426.6 | - | 430.8 | |||||||
Debt securities | 68.8 | 170.2 | - | 239 | |||||||
Securitization recovery trust account | 7.9 | - | - | 7.9 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$160.60 | $596.80 | $- | $757.40 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $24.90 | $- | $- | $24.90 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 9.5 | 374.5 | - | 384 | |||||||
Debt securities | 94.3 | 122.3 | - | 216.6 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$171.10 | $496.80 | $- | $667.90 | ||||||||
Entergy Gulf States Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.6 | 341.6 | - | 347.2 | |||||||
Debt securities | 53.3 | 137.1 | - | 190.4 | |||||||
Escrow accounts | 21.5 | - | - | 21.5 | |||||||
$81.00 | $478.70 | $- | $559.70 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.30 | $- | $- | $1.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.5 | 283 | - | 288.5 | |||||||
Debt securities | 49.5 | 139.4 | - | 188.9 | |||||||
Escrow accounts | 87 | - | - | 87 | |||||||
$142.60 | $422.40 | $- | $565.00 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.60 | $- | $- | $2.60 | |||||||
Entergy Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $40.50 | $- | $- | $40.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.6 | 210.1 | - | 214.7 | |||||||
Debt securities | 51.8 | 58.9 | - | 110.7 | |||||||
Securitization recovery trust account | 10.5 | - | - | 10.5 | |||||||
$107.40 | $269.00 | $- | $376.40 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.40 | $- | $- | $1.40 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $29.30 | $- | $- | $29.30 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 2 | 173.5 | - | 175.5 | |||||||
Debt securities | 52.6 | 59.3 | - | 111.9 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 187 | - | - | 187 | |||||||
$275.30 | $232.80 | $- | $508.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $3.40 | $- | $- | $3.40 | |||||||
Entergy Mississippi | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Escrow accounts | $61.80 | $- | $- | $61.80 | |||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.30 | $- | $- | $0.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $52.40 | $- | $- | $52.40 | |||||||
Escrow accounts | 61.8 | - | - | 61.8 | |||||||
$114.20 | $- | $- | $114.20 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.20 | $- | $- | $2.20 | |||||||
Entergy New Orleans | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $14.40 | $- | $- | $14.40 | |||||||
Escrow accounts | 8.7 | - | - | 8.7 | |||||||
$23.10 | $- | $- | $23.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.20 | $- | $- | $0.20 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $9.10 | $- | $- | $9.10 | |||||||
Escrow accounts | 10.6 | - | - | 10.6 | |||||||
$19.70 | $- | $- | $19.70 | ||||||||
Entergy Texas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $19.70 | $- | $- | $19.70 | |||||||
Securitization recovery trust account | 31.4 | - | - | 31.4 | |||||||
$51.10 | $- | $- | $51.10 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $59.70 | $- | $- | $59.70 | |||||||
Securitization recovery trust account | 37.3 | - | - | 37.3 | |||||||
$97.00 | $- | $- | $97.00 | ||||||||
System Energy | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investment | $3.10 | $- | $- | $3.10 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1 | 342.8 | - | 343.8 | |||||||
Debt securities | 151.6 | 68 | - | 219.6 | |||||||
$155.70 | $410.80 | $- | $566.50 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $83.50 | $- | $- | $83.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1.6Â | 282 | - | 283.6 | |||||||
Debt securities | 141.1 | 65.9Â | - | 207.0Â | |||||||
$226.20 | $347.90 | $- | $574.10 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
Entergy New Orleans | ' | ||||||||||
Risk Management And Fair Values | ' | ||||||||||
NOTE 8. RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||
Market Risk | |||||||||||
In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. | |||||||||||
The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. | |||||||||||
As a wholesale generator, Entergy Wholesale Commodities's core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, put and/or call options, to mitigate forward commodity price risk. When market price falls, the combination of instruments is expected to settle in gains offsetting lower revenue from generation and resulting in a more predictable cash flow. | |||||||||||
Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy's risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy's objectives. | |||||||||||
Derivatives | |||||||||||
           Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy will occasionally enter into financially settled swap and option contracts to manage market risk under certain hedging transactions which may or may not be designated as hedging instruments. | |||||||||||
           Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. The maximum length of time over which Entergy is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2013 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 82% for the remainder of 2013, of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2013 is 11 TWh. | |||||||||||
           Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of September 30, 2013 is 19,081,000 MMBtu for Entergy, 7,600,000 MMBtu for Entergy Gulf States Louisiana, 8,540,000 MMBtu for Entergy Louisiana, 2,010,000 MMBtu for Entergy Mississippi, and 931,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. | |||||||||||
The fair values of Entergy's derivative instruments in the consolidated balance sheet as of September 30, 2013 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $50 | ($28) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $12 | ($7) | $5 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $40 | ($27) | $13 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $11 | ($7) | $4 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $78 | ($28) | $50 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $15 | ($7) | $8 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $39 | ($29) | $10 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $16 | ($7) | $9 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $3 | ($-) | $3 | Utility | ||||||
           The fair values of Entergy's derivative instruments in the consolidated balance sheet as of December 31, 2012 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $123 | ($-) | $123 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $46 | ($10) | $36 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $18 | ($11) | $7 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $22 | ($-) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $24 | ($14) | $10 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $19 | ($13) | $6 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $8 | ($-) | $8 | Utility | ||||||
(a) | Represents the gross amounts of recognized assets/liabilities | ||||||||||
(b) | Represents the netting of fair value balances with the same counterparty | ||||||||||
(c) | Represents the net amounts of assets /liabilities presented on the Entergy Consolidated Balance Sheets | ||||||||||
(d) | Excludes cash collateral in the amounts of $7 million and $56 million held as of September 30, 2013 and December 31, 2012, respectively | ||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of loss | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($4) million | Competitive businesses operating revenues | $35 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | ($108) million | Competitive businesses operating revenues | $61 million | ||||||||
           | |||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain (loss) | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($78) million | Competitive businesses operating revenues | $38 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | $120 million | Competitive businesses operating revenues | $232 million | ||||||||
           | |||||||||||
           Electricity over-the-counter instruments that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. Unrealized gains or losses recorded in other comprehensive income result from hedging power output at the Entergy Wholesale Commodities power plants. The related gains or losses from hedging power are included in operating revenues when realized. Gains totaling approximately $35 million and $61 million were realized on the maturity of cash flow hedges, before taxes of $13 million and $21 million, for the three months ended September 30, 2013 and 2012, respectively. Gains totaling approximately $38 million and $232 million were realized on the maturity of cash flow hedges, before taxes of $14 million and $81 million, for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the three months ended September 30, 2013 and 2012 was ($1.8) million and ($1.2) million, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the nine months ended September 30, 2013 and 2012 was ($2.3) million and ($1.6) million, respectively. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. | |||||||||||
           Based on market prices as of September 30, 2013, unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $7 million of net unrealized gains. Approximately $6 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, however, could vary due to future changes in market prices.   | |||||||||||
           Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide collateral to secure its obligations when the current market prices exceed the contracted power prices. The primary form of collateral to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2013, hedge contracts with five counterparties were in a liability position (approximately $32 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. As of September 30, 2012, hedge contracts with one counterparty were in a liability position (approximately $2 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date.  | |||||||||||
           Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction settles. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. | |||||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($1) million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $12 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $7 million | ||||||||
Electricity swaps and options de-designated as hedged items | $3 million | Competitive business operating revenues | ($7) million | ||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $8 million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $2 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($28) million | ||||||||
Electricity swaps and options de-designated as hedged items | $2 million | Competitive business operating revenues | ($6) million | ||||||||
Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. | |||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Fair Values | |||||||||||
           The estimated fair values of Entergy's financial instruments and derivatives are determined using bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not accrue to the benefit or detriment of shareholders. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. | |||||||||||
           Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. | |||||||||||
           Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: | |||||||||||
·        Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. See Note 1 to the financial statements in the Form 10-K for a discussion of cash and cash equivalents. | |||||||||||
·        Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: | |||||||||||
-Â Â Â quoted prices for similar assets or liabilities in active markets; | |||||||||||
-Â Â Â quoted prices for identical assets or liabilities in inactive markets; | |||||||||||
-Â Â Â inputs other than quoted prices that are observable for the asset or liability; or | |||||||||||
-Â Â Â inputs that are derived principally from or corroborated by observable market data | |||||||||||
          by correlation or other means. | |||||||||||
Level 2 consists primarily of individually-owned debt instruments or shares in common trusts. Common trust funds are stated at estimated fair value based on the fair market value of the underlying investments. | |||||||||||
·        Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management's best estimate of fair value for the asset or liability. Level 3 consists primarily of derivative power contracts used as cash flow hedges of power sales at merchant power plants. | |||||||||||
The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Entergy Wholesale Commodities Risk Control Group and sent to the Entergy Wholesale Commodities Back Office and Entergy Nuclear Finance groups for evaluation. The primary functions of the Entergy Wholesale Commodities Risk Control Group include: gathering, validating and reporting market data, providing market and credit risk analyses and valuations in support of Entergy Wholesale Commodities' commercial transactions, developing and administering protocols for the management of market and credit risks, implementing and maintaining controls around changes to market data in the energy trading and risk management system, reviewing creditworthiness of counterparties, supporting contract negotiations with new counterparties, administering credit support for contracts, and managing the daily margining process. The Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The primary functions of the Entergy Wholesale Commodities Back Office are market and counterparty settlements, revenue reporting and analysis and general ledger. The Entergy Wholesale Commodities Risk Control Group reports to the Vice President – Entergy Wholesale Commodities Chief Financial Officer while the Entergy Wholesale Commodities Back Office reports to the Controller, Competitive Operations. Entergy Nuclear Finance is primarily responsible for the financial planning of Entergy's utility and non-utility nuclear businesses. The VP, Chief Financial Officer – Nuclear Operations within Entergy Nuclear Finance reports to the Chief Accounting Officer. | |||||||||||
The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties' credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. | |||||||||||
The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. As of September 30, 2013, Entergy had in-the-money derivative contracts with a fair value of $85 million with counterparties or their guarantor who are all currently investment grade. As of September 30, 2013 $36 million of the derivative contracts are out-of-the-money contracts supported by corporate guarantees, which would require additional cash or letters of credit in the event of a decrease in Entergy Corporation's credit rating to below investment grade. | |||||||||||
On a daily basis, Entergy Wholesale Commodities calculates the mark-to-market for all derivative transactions. Entergy Wholesale Commodities Risk Control Group also validates forward market prices by comparing them to other sources of forward market prices and/or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices and/or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available, and using multiple sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities's portfolio. In particular, the credit, liquidity, and financial metrics impacts are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. | |||||||||||
The following tables set forth, by level within the fair value hierarchy, Entergy's assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $262 | $- | $- | $262 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 418 | 2,470 | - | 2,888 | |||||||
Debt securities | 741 | 999 | - | 1,740 | |||||||
Power contracts | - | - | 85 | 85 | |||||||
Securitization recovery trust account | 50 | - | - | 50 | |||||||
Escrow accounts | 135 | - | - | 135 | |||||||
$1,606 | $3,469 | $85 | $5,160 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $36 | $36 | |||||||
Gas hedge contracts | 3 | - | - | 3 | |||||||
$3 | $- | $36 | $39 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $420 | $- | $- | $420 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 358 | 2,101 | - | 2,459 | |||||||
Debt securities | 769 | 962 | - | 1,731 | |||||||
Power contracts | - | - | 191 | 191 | |||||||
Securitization recovery trust account | 46 | - | - | 46 | |||||||
Escrow accounts | 386 | - | - | 386 | |||||||
$1,979 | $3,063 | $191 | $5,233 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $13 | $13 | |||||||
Gas hedge contracts | 8 | - | - | 8 | |||||||
$8 | $- | $13 | $21 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of July 1, | $83Â | $375Â | |||||||||
Unrealized gains (losses) from price changes | 9Â Â | -92 | |||||||||
Unrealized losses on originations | (1)Â | -Â | |||||||||
Realized losses included in earnings | (6)Â | -4 | |||||||||
Realized gains on settlements | (36)Â | -61 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of January 1, | $178Â | $312Â | |||||||||
Unrealized gains (losses) from price changes | -62 | 136Â | |||||||||
Unrealized gains on originations | -Â | 7Â | |||||||||
Realized losses included in earnings | -29 | -5 | |||||||||
Realized gains on settlements | -38 | -232 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy, and the valuation techniques and significant unobservable inputs to each which cause that classification, as of September 30, 2013: | |||||||||||
Fair Value | Range | ||||||||||
as of | from | ||||||||||
Transaction Type | September 30, | Significant | Average | Effect on | |||||||
2013 | Unobservable Inputs | % | Fair Value | ||||||||
Electricity swaps | $5 million | Unit contingent discount | +/- 3% | $- | |||||||
Electricity options | $44 million | Implied volatility | +/- 40% | $27 million | |||||||
The following table sets forth an analysis of each of the types of unobservable inputs impacting the fair value of items classified as Level 3 within the fair value hierarchy, and the sensitivity to changes to those inputs: | |||||||||||
Significant | |||||||||||
Unobservable | Effect on | ||||||||||
Input | Transaction Type | Position | Change to Input | Fair Value | |||||||
Unit contingent | |||||||||||
discount | Electricity swaps | Sell | Increase (Decrease) | Decrease (Increase) | |||||||
Implied volatility | Electricity options | Sell | Increase (Decrease) | Increase (Decrease) | |||||||
Implied volatility | Electricity options | Buy | Increase (Decrease) | Increase (Decrease) | |||||||
The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries' assets that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. | |||||||||||
Entergy Arkansas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $41.70 | $- | $- | $41.70 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.2 | 426.6 | - | 430.8 | |||||||
Debt securities | 68.8 | 170.2 | - | 239 | |||||||
Securitization recovery trust account | 7.9 | - | - | 7.9 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$160.60 | $596.80 | $- | $757.40 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $24.90 | $- | $- | $24.90 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 9.5 | 374.5 | - | 384 | |||||||
Debt securities | 94.3 | 122.3 | - | 216.6 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$171.10 | $496.80 | $- | $667.90 | ||||||||
Entergy Gulf States Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.6 | 341.6 | - | 347.2 | |||||||
Debt securities | 53.3 | 137.1 | - | 190.4 | |||||||
Escrow accounts | 21.5 | - | - | 21.5 | |||||||
$81.00 | $478.70 | $- | $559.70 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.30 | $- | $- | $1.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.5 | 283 | - | 288.5 | |||||||
Debt securities | 49.5 | 139.4 | - | 188.9 | |||||||
Escrow accounts | 87 | - | - | 87 | |||||||
$142.60 | $422.40 | $- | $565.00 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.60 | $- | $- | $2.60 | |||||||
Entergy Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $40.50 | $- | $- | $40.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.6 | 210.1 | - | 214.7 | |||||||
Debt securities | 51.8 | 58.9 | - | 110.7 | |||||||
Securitization recovery trust account | 10.5 | - | - | 10.5 | |||||||
$107.40 | $269.00 | $- | $376.40 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.40 | $- | $- | $1.40 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $29.30 | $- | $- | $29.30 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 2 | 173.5 | - | 175.5 | |||||||
Debt securities | 52.6 | 59.3 | - | 111.9 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 187 | - | - | 187 | |||||||
$275.30 | $232.80 | $- | $508.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $3.40 | $- | $- | $3.40 | |||||||
Entergy Mississippi | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Escrow accounts | $61.80 | $- | $- | $61.80 | |||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.30 | $- | $- | $0.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $52.40 | $- | $- | $52.40 | |||||||
Escrow accounts | 61.8 | - | - | 61.8 | |||||||
$114.20 | $- | $- | $114.20 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.20 | $- | $- | $2.20 | |||||||
Entergy New Orleans | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $14.40 | $- | $- | $14.40 | |||||||
Escrow accounts | 8.7 | - | - | 8.7 | |||||||
$23.10 | $- | $- | $23.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.20 | $- | $- | $0.20 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $9.10 | $- | $- | $9.10 | |||||||
Escrow accounts | 10.6 | - | - | 10.6 | |||||||
$19.70 | $- | $- | $19.70 | ||||||||
Entergy Texas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $19.70 | $- | $- | $19.70 | |||||||
Securitization recovery trust account | 31.4 | - | - | 31.4 | |||||||
$51.10 | $- | $- | $51.10 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $59.70 | $- | $- | $59.70 | |||||||
Securitization recovery trust account | 37.3 | - | - | 37.3 | |||||||
$97.00 | $- | $- | $97.00 | ||||||||
System Energy | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investment | $3.10 | $- | $- | $3.10 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1 | 342.8 | - | 343.8 | |||||||
Debt securities | 151.6 | 68 | - | 219.6 | |||||||
$155.70 | $410.80 | $- | $566.50 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $83.50 | $- | $- | $83.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1.6Â | 282 | - | 283.6 | |||||||
Debt securities | 141.1 | 65.9Â | - | 207.0Â | |||||||
$226.20 | $347.90 | $- | $574.10 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
Entergy Texas [Member] | ' | ||||||||||
Risk Management And Fair Values | ' | ||||||||||
NOTE 8. RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||
Market Risk | |||||||||||
In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. | |||||||||||
The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. | |||||||||||
As a wholesale generator, Entergy Wholesale Commodities's core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, put and/or call options, to mitigate forward commodity price risk. When market price falls, the combination of instruments is expected to settle in gains offsetting lower revenue from generation and resulting in a more predictable cash flow. | |||||||||||
Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy's risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy's objectives. | |||||||||||
Derivatives | |||||||||||
           Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy will occasionally enter into financially settled swap and option contracts to manage market risk under certain hedging transactions which may or may not be designated as hedging instruments. | |||||||||||
           Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. The maximum length of time over which Entergy is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2013 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 82% for the remainder of 2013, of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2013 is 11 TWh. | |||||||||||
           Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of September 30, 2013 is 19,081,000 MMBtu for Entergy, 7,600,000 MMBtu for Entergy Gulf States Louisiana, 8,540,000 MMBtu for Entergy Louisiana, 2,010,000 MMBtu for Entergy Mississippi, and 931,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. | |||||||||||
The fair values of Entergy's derivative instruments in the consolidated balance sheet as of September 30, 2013 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $50 | ($28) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $12 | ($7) | $5 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $40 | ($27) | $13 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $11 | ($7) | $4 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $78 | ($28) | $50 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $15 | ($7) | $8 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $39 | ($29) | $10 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $16 | ($7) | $9 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $3 | ($-) | $3 | Utility | ||||||
           The fair values of Entergy's derivative instruments in the consolidated balance sheet as of December 31, 2012 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $123 | ($-) | $123 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $46 | ($10) | $36 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $18 | ($11) | $7 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $22 | ($-) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $24 | ($14) | $10 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $19 | ($13) | $6 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $8 | ($-) | $8 | Utility | ||||||
(a) | Represents the gross amounts of recognized assets/liabilities | ||||||||||
(b) | Represents the netting of fair value balances with the same counterparty | ||||||||||
(c) | Represents the net amounts of assets /liabilities presented on the Entergy Consolidated Balance Sheets | ||||||||||
(d) | Excludes cash collateral in the amounts of $7 million and $56 million held as of September 30, 2013 and December 31, 2012, respectively | ||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of loss | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($4) million | Competitive businesses operating revenues | $35 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | ($108) million | Competitive businesses operating revenues | $61 million | ||||||||
           | |||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain (loss) | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($78) million | Competitive businesses operating revenues | $38 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | $120 million | Competitive businesses operating revenues | $232 million | ||||||||
           | |||||||||||
           Electricity over-the-counter instruments that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. Unrealized gains or losses recorded in other comprehensive income result from hedging power output at the Entergy Wholesale Commodities power plants. The related gains or losses from hedging power are included in operating revenues when realized. Gains totaling approximately $35 million and $61 million were realized on the maturity of cash flow hedges, before taxes of $13 million and $21 million, for the three months ended September 30, 2013 and 2012, respectively. Gains totaling approximately $38 million and $232 million were realized on the maturity of cash flow hedges, before taxes of $14 million and $81 million, for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the three months ended September 30, 2013 and 2012 was ($1.8) million and ($1.2) million, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the nine months ended September 30, 2013 and 2012 was ($2.3) million and ($1.6) million, respectively. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. | |||||||||||
           Based on market prices as of September 30, 2013, unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $7 million of net unrealized gains. Approximately $6 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, however, could vary due to future changes in market prices.   | |||||||||||
           Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide collateral to secure its obligations when the current market prices exceed the contracted power prices. The primary form of collateral to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2013, hedge contracts with five counterparties were in a liability position (approximately $32 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. As of September 30, 2012, hedge contracts with one counterparty were in a liability position (approximately $2 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date.  | |||||||||||
           Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction settles. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. | |||||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($1) million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $12 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $7 million | ||||||||
Electricity swaps and options de-designated as hedged items | $3 million | Competitive business operating revenues | ($7) million | ||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $8 million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $2 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($28) million | ||||||||
Electricity swaps and options de-designated as hedged items | $2 million | Competitive business operating revenues | ($6) million | ||||||||
Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. | |||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Fair Values | |||||||||||
           The estimated fair values of Entergy's financial instruments and derivatives are determined using bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not accrue to the benefit or detriment of shareholders. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. | |||||||||||
           Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. | |||||||||||
           Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: | |||||||||||
·        Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. See Note 1 to the financial statements in the Form 10-K for a discussion of cash and cash equivalents. | |||||||||||
·        Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: | |||||||||||
-Â Â Â quoted prices for similar assets or liabilities in active markets; | |||||||||||
-Â Â Â quoted prices for identical assets or liabilities in inactive markets; | |||||||||||
-Â Â Â inputs other than quoted prices that are observable for the asset or liability; or | |||||||||||
-Â Â Â inputs that are derived principally from or corroborated by observable market data | |||||||||||
          by correlation or other means. | |||||||||||
Level 2 consists primarily of individually-owned debt instruments or shares in common trusts. Common trust funds are stated at estimated fair value based on the fair market value of the underlying investments. | |||||||||||
·        Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management's best estimate of fair value for the asset or liability. Level 3 consists primarily of derivative power contracts used as cash flow hedges of power sales at merchant power plants. | |||||||||||
The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Entergy Wholesale Commodities Risk Control Group and sent to the Entergy Wholesale Commodities Back Office and Entergy Nuclear Finance groups for evaluation. The primary functions of the Entergy Wholesale Commodities Risk Control Group include: gathering, validating and reporting market data, providing market and credit risk analyses and valuations in support of Entergy Wholesale Commodities' commercial transactions, developing and administering protocols for the management of market and credit risks, implementing and maintaining controls around changes to market data in the energy trading and risk management system, reviewing creditworthiness of counterparties, supporting contract negotiations with new counterparties, administering credit support for contracts, and managing the daily margining process. The Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The primary functions of the Entergy Wholesale Commodities Back Office are market and counterparty settlements, revenue reporting and analysis and general ledger. The Entergy Wholesale Commodities Risk Control Group reports to the Vice President – Entergy Wholesale Commodities Chief Financial Officer while the Entergy Wholesale Commodities Back Office reports to the Controller, Competitive Operations. Entergy Nuclear Finance is primarily responsible for the financial planning of Entergy's utility and non-utility nuclear businesses. The VP, Chief Financial Officer – Nuclear Operations within Entergy Nuclear Finance reports to the Chief Accounting Officer. | |||||||||||
The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties' credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. | |||||||||||
The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. As of September 30, 2013, Entergy had in-the-money derivative contracts with a fair value of $85 million with counterparties or their guarantor who are all currently investment grade. As of September 30, 2013 $36 million of the derivative contracts are out-of-the-money contracts supported by corporate guarantees, which would require additional cash or letters of credit in the event of a decrease in Entergy Corporation's credit rating to below investment grade. | |||||||||||
On a daily basis, Entergy Wholesale Commodities calculates the mark-to-market for all derivative transactions. Entergy Wholesale Commodities Risk Control Group also validates forward market prices by comparing them to other sources of forward market prices and/or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices and/or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available, and using multiple sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities's portfolio. In particular, the credit, liquidity, and financial metrics impacts are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. | |||||||||||
The following tables set forth, by level within the fair value hierarchy, Entergy's assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $262 | $- | $- | $262 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 418 | 2,470 | - | 2,888 | |||||||
Debt securities | 741 | 999 | - | 1,740 | |||||||
Power contracts | - | - | 85 | 85 | |||||||
Securitization recovery trust account | 50 | - | - | 50 | |||||||
Escrow accounts | 135 | - | - | 135 | |||||||
$1,606 | $3,469 | $85 | $5,160 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $36 | $36 | |||||||
Gas hedge contracts | 3 | - | - | 3 | |||||||
$3 | $- | $36 | $39 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $420 | $- | $- | $420 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 358 | 2,101 | - | 2,459 | |||||||
Debt securities | 769 | 962 | - | 1,731 | |||||||
Power contracts | - | - | 191 | 191 | |||||||
Securitization recovery trust account | 46 | - | - | 46 | |||||||
Escrow accounts | 386 | - | - | 386 | |||||||
$1,979 | $3,063 | $191 | $5,233 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $13 | $13 | |||||||
Gas hedge contracts | 8 | - | - | 8 | |||||||
$8 | $- | $13 | $21 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of July 1, | $83Â | $375Â | |||||||||
Unrealized gains (losses) from price changes | 9Â Â | -92 | |||||||||
Unrealized losses on originations | (1)Â | -Â | |||||||||
Realized losses included in earnings | (6)Â | -4 | |||||||||
Realized gains on settlements | (36)Â | -61 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of January 1, | $178Â | $312Â | |||||||||
Unrealized gains (losses) from price changes | -62 | 136Â | |||||||||
Unrealized gains on originations | -Â | 7Â | |||||||||
Realized losses included in earnings | -29 | -5 | |||||||||
Realized gains on settlements | -38 | -232 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy, and the valuation techniques and significant unobservable inputs to each which cause that classification, as of September 30, 2013: | |||||||||||
Fair Value | Range | ||||||||||
as of | from | ||||||||||
Transaction Type | September 30, | Significant | Average | Effect on | |||||||
2013 | Unobservable Inputs | % | Fair Value | ||||||||
Electricity swaps | $5 million | Unit contingent discount | +/- 3% | $- | |||||||
Electricity options | $44 million | Implied volatility | +/- 40% | $27 million | |||||||
The following table sets forth an analysis of each of the types of unobservable inputs impacting the fair value of items classified as Level 3 within the fair value hierarchy, and the sensitivity to changes to those inputs: | |||||||||||
Significant | |||||||||||
Unobservable | Effect on | ||||||||||
Input | Transaction Type | Position | Change to Input | Fair Value | |||||||
Unit contingent | |||||||||||
discount | Electricity swaps | Sell | Increase (Decrease) | Decrease (Increase) | |||||||
Implied volatility | Electricity options | Sell | Increase (Decrease) | Increase (Decrease) | |||||||
Implied volatility | Electricity options | Buy | Increase (Decrease) | Increase (Decrease) | |||||||
The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries' assets that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. | |||||||||||
Entergy Arkansas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $41.70 | $- | $- | $41.70 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.2 | 426.6 | - | 430.8 | |||||||
Debt securities | 68.8 | 170.2 | - | 239 | |||||||
Securitization recovery trust account | 7.9 | - | - | 7.9 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$160.60 | $596.80 | $- | $757.40 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $24.90 | $- | $- | $24.90 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 9.5 | 374.5 | - | 384 | |||||||
Debt securities | 94.3 | 122.3 | - | 216.6 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$171.10 | $496.80 | $- | $667.90 | ||||||||
Entergy Gulf States Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.6 | 341.6 | - | 347.2 | |||||||
Debt securities | 53.3 | 137.1 | - | 190.4 | |||||||
Escrow accounts | 21.5 | - | - | 21.5 | |||||||
$81.00 | $478.70 | $- | $559.70 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.30 | $- | $- | $1.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.5 | 283 | - | 288.5 | |||||||
Debt securities | 49.5 | 139.4 | - | 188.9 | |||||||
Escrow accounts | 87 | - | - | 87 | |||||||
$142.60 | $422.40 | $- | $565.00 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.60 | $- | $- | $2.60 | |||||||
Entergy Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $40.50 | $- | $- | $40.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.6 | 210.1 | - | 214.7 | |||||||
Debt securities | 51.8 | 58.9 | - | 110.7 | |||||||
Securitization recovery trust account | 10.5 | - | - | 10.5 | |||||||
$107.40 | $269.00 | $- | $376.40 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.40 | $- | $- | $1.40 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $29.30 | $- | $- | $29.30 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 2 | 173.5 | - | 175.5 | |||||||
Debt securities | 52.6 | 59.3 | - | 111.9 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 187 | - | - | 187 | |||||||
$275.30 | $232.80 | $- | $508.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $3.40 | $- | $- | $3.40 | |||||||
Entergy Mississippi | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Escrow accounts | $61.80 | $- | $- | $61.80 | |||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.30 | $- | $- | $0.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $52.40 | $- | $- | $52.40 | |||||||
Escrow accounts | 61.8 | - | - | 61.8 | |||||||
$114.20 | $- | $- | $114.20 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.20 | $- | $- | $2.20 | |||||||
Entergy New Orleans | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $14.40 | $- | $- | $14.40 | |||||||
Escrow accounts | 8.7 | - | - | 8.7 | |||||||
$23.10 | $- | $- | $23.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.20 | $- | $- | $0.20 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $9.10 | $- | $- | $9.10 | |||||||
Escrow accounts | 10.6 | - | - | 10.6 | |||||||
$19.70 | $- | $- | $19.70 | ||||||||
Entergy Texas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $19.70 | $- | $- | $19.70 | |||||||
Securitization recovery trust account | 31.4 | - | - | 31.4 | |||||||
$51.10 | $- | $- | $51.10 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $59.70 | $- | $- | $59.70 | |||||||
Securitization recovery trust account | 37.3 | - | - | 37.3 | |||||||
$97.00 | $- | $- | $97.00 | ||||||||
System Energy | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investment | $3.10 | $- | $- | $3.10 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1 | 342.8 | - | 343.8 | |||||||
Debt securities | 151.6 | 68 | - | 219.6 | |||||||
$155.70 | $410.80 | $- | $566.50 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $83.50 | $- | $- | $83.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1.6Â | 282 | - | 283.6 | |||||||
Debt securities | 141.1 | 65.9Â | - | 207.0Â | |||||||
$226.20 | $347.90 | $- | $574.10 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
System Energy [Member] | ' | ||||||||||
Risk Management And Fair Values | ' | ||||||||||
NOTE 8. RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||||||||||
Market Risk | |||||||||||
In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. | |||||||||||
The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. | |||||||||||
As a wholesale generator, Entergy Wholesale Commodities's core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, put and/or call options, to mitigate forward commodity price risk. When market price falls, the combination of instruments is expected to settle in gains offsetting lower revenue from generation and resulting in a more predictable cash flow. | |||||||||||
Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy's risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy's objectives. | |||||||||||
Derivatives | |||||||||||
           Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy will occasionally enter into financially settled swap and option contracts to manage market risk under certain hedging transactions which may or may not be designated as hedging instruments. | |||||||||||
           Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. The maximum length of time over which Entergy is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2013 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 82% for the remainder of 2013, of which approximately 59% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2013 is 11 TWh. | |||||||||||
           Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of September 30, 2013 is 19,081,000 MMBtu for Entergy, 7,600,000 MMBtu for Entergy Gulf States Louisiana, 8,540,000 MMBtu for Entergy Louisiana, 2,010,000 MMBtu for Entergy Mississippi, and 931,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. | |||||||||||
The fair values of Entergy's derivative instruments in the consolidated balance sheet as of September 30, 2013 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $50 | ($28) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $12 | ($7) | $5 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $40 | ($27) | $13 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $11 | ($7) | $4 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $78 | ($28) | $50 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $15 | ($7) | $8 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $39 | ($29) | $10 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $16 | ($7) | $9 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $3 | ($-) | $3 | Utility | ||||||
           The fair values of Entergy's derivative instruments in the consolidated balance sheet as of December 31, 2012 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $123 | ($-) | $123 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $46 | ($10) | $36 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $18 | ($11) | $7 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $22 | ($-) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $24 | ($14) | $10 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $19 | ($13) | $6 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $8 | ($-) | $8 | Utility | ||||||
(a) | Represents the gross amounts of recognized assets/liabilities | ||||||||||
(b) | Represents the netting of fair value balances with the same counterparty | ||||||||||
(c) | Represents the net amounts of assets /liabilities presented on the Entergy Consolidated Balance Sheets | ||||||||||
(d) | Excludes cash collateral in the amounts of $7 million and $56 million held as of September 30, 2013 and December 31, 2012, respectively | ||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of loss | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($4) million | Competitive businesses operating revenues | $35 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | ($108) million | Competitive businesses operating revenues | $61 million | ||||||||
           | |||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain (loss) | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($78) million | Competitive businesses operating revenues | $38 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | $120 million | Competitive businesses operating revenues | $232 million | ||||||||
           | |||||||||||
           Electricity over-the-counter instruments that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. Unrealized gains or losses recorded in other comprehensive income result from hedging power output at the Entergy Wholesale Commodities power plants. The related gains or losses from hedging power are included in operating revenues when realized. Gains totaling approximately $35 million and $61 million were realized on the maturity of cash flow hedges, before taxes of $13 million and $21 million, for the three months ended September 30, 2013 and 2012, respectively. Gains totaling approximately $38 million and $232 million were realized on the maturity of cash flow hedges, before taxes of $14 million and $81 million, for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the three months ended September 30, 2013 and 2012 was ($1.8) million and ($1.2) million, respectively. The change in fair value of Entergy's cash flow hedges due to ineffectiveness during the nine months ended September 30, 2013 and 2012 was ($2.3) million and ($1.6) million, respectively. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. | |||||||||||
           Based on market prices as of September 30, 2013, unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $7 million of net unrealized gains. Approximately $6 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, however, could vary due to future changes in market prices.   | |||||||||||
           Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide collateral to secure its obligations when the current market prices exceed the contracted power prices. The primary form of collateral to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2013, hedge contracts with five counterparties were in a liability position (approximately $32 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. As of September 30, 2012, hedge contracts with one counterparty were in a liability position (approximately $2 million total), but were significantly below the amount of the guarantee provided under the contract and no cash collateral was required. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date.  | |||||||||||
           Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction settles. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. | |||||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($1) million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $12 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $7 million | ||||||||
Electricity swaps and options de-designated as hedged items | $3 million | Competitive business operating revenues | ($7) million | ||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $8 million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $2 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($28) million | ||||||||
Electricity swaps and options de-designated as hedged items | $2 million | Competitive business operating revenues | ($6) million | ||||||||
Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. | |||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Fair Values | |||||||||||
           The estimated fair values of Entergy's financial instruments and derivatives are determined using bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not accrue to the benefit or detriment of shareholders. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. | |||||||||||
           Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. | |||||||||||
           Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: | |||||||||||
·        Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. See Note 1 to the financial statements in the Form 10-K for a discussion of cash and cash equivalents. | |||||||||||
·        Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: | |||||||||||
-Â Â Â quoted prices for similar assets or liabilities in active markets; | |||||||||||
-Â Â Â quoted prices for identical assets or liabilities in inactive markets; | |||||||||||
-Â Â Â inputs other than quoted prices that are observable for the asset or liability; or | |||||||||||
-Â Â Â inputs that are derived principally from or corroborated by observable market data | |||||||||||
          by correlation or other means. | |||||||||||
Level 2 consists primarily of individually-owned debt instruments or shares in common trusts. Common trust funds are stated at estimated fair value based on the fair market value of the underlying investments. | |||||||||||
·        Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management's best estimate of fair value for the asset or liability. Level 3 consists primarily of derivative power contracts used as cash flow hedges of power sales at merchant power plants. | |||||||||||
The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Entergy Wholesale Commodities Risk Control Group and sent to the Entergy Wholesale Commodities Back Office and Entergy Nuclear Finance groups for evaluation. The primary functions of the Entergy Wholesale Commodities Risk Control Group include: gathering, validating and reporting market data, providing market and credit risk analyses and valuations in support of Entergy Wholesale Commodities' commercial transactions, developing and administering protocols for the management of market and credit risks, implementing and maintaining controls around changes to market data in the energy trading and risk management system, reviewing creditworthiness of counterparties, supporting contract negotiations with new counterparties, administering credit support for contracts, and managing the daily margining process. The Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The primary functions of the Entergy Wholesale Commodities Back Office are market and counterparty settlements, revenue reporting and analysis and general ledger. The Entergy Wholesale Commodities Risk Control Group reports to the Vice President – Entergy Wholesale Commodities Chief Financial Officer while the Entergy Wholesale Commodities Back Office reports to the Controller, Competitive Operations. Entergy Nuclear Finance is primarily responsible for the financial planning of Entergy's utility and non-utility nuclear businesses. The VP, Chief Financial Officer – Nuclear Operations within Entergy Nuclear Finance reports to the Chief Accounting Officer. | |||||||||||
The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties' credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. | |||||||||||
The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. As of September 30, 2013, Entergy had in-the-money derivative contracts with a fair value of $85 million with counterparties or their guarantor who are all currently investment grade. As of September 30, 2013 $36 million of the derivative contracts are out-of-the-money contracts supported by corporate guarantees, which would require additional cash or letters of credit in the event of a decrease in Entergy Corporation's credit rating to below investment grade. | |||||||||||
On a daily basis, Entergy Wholesale Commodities calculates the mark-to-market for all derivative transactions. Entergy Wholesale Commodities Risk Control Group also validates forward market prices by comparing them to other sources of forward market prices and/or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices and/or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available, and using multiple sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities's portfolio. In particular, the credit, liquidity, and financial metrics impacts are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. | |||||||||||
The following tables set forth, by level within the fair value hierarchy, Entergy's assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels.  | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $262 | $- | $- | $262 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 418 | 2,470 | - | 2,888 | |||||||
Debt securities | 741 | 999 | - | 1,740 | |||||||
Power contracts | - | - | 85 | 85 | |||||||
Securitization recovery trust account | 50 | - | - | 50 | |||||||
Escrow accounts | 135 | - | - | 135 | |||||||
$1,606 | $3,469 | $85 | $5,160 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $36 | $36 | |||||||
Gas hedge contracts | 3 | - | - | 3 | |||||||
$3 | $- | $36 | $39 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $420 | $- | $- | $420 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 358 | 2,101 | - | 2,459 | |||||||
Debt securities | 769 | 962 | - | 1,731 | |||||||
Power contracts | - | - | 191 | 191 | |||||||
Securitization recovery trust account | 46 | - | - | 46 | |||||||
Escrow accounts | 386 | - | - | 386 | |||||||
$1,979 | $3,063 | $191 | $5,233 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $13 | $13 | |||||||
Gas hedge contracts | 8 | - | - | 8 | |||||||
$8 | $- | $13 | $21 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. | ||||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of July 1, | $83Â | $375Â | |||||||||
Unrealized gains (losses) from price changes | 9Â Â | -92 | |||||||||
Unrealized losses on originations | (1)Â | -Â | |||||||||
Realized losses included in earnings | (6)Â | -4 | |||||||||
Realized gains on settlements | (36)Â | -61 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of January 1, | $178Â | $312Â | |||||||||
Unrealized gains (losses) from price changes | -62 | 136Â | |||||||||
Unrealized gains on originations | -Â | 7Â | |||||||||
Realized losses included in earnings | -29 | -5 | |||||||||
Realized gains on settlements | -38 | -232 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy, and the valuation techniques and significant unobservable inputs to each which cause that classification, as of September 30, 2013: | |||||||||||
Fair Value | Range | ||||||||||
as of | from | ||||||||||
Transaction Type | September 30, | Significant | Average | Effect on | |||||||
2013 | Unobservable Inputs | % | Fair Value | ||||||||
Electricity swaps | $5 million | Unit contingent discount | +/- 3% | $- | |||||||
Electricity options | $44 million | Implied volatility | +/- 40% | $27 million | |||||||
The following table sets forth an analysis of each of the types of unobservable inputs impacting the fair value of items classified as Level 3 within the fair value hierarchy, and the sensitivity to changes to those inputs: | |||||||||||
Significant | |||||||||||
Unobservable | Effect on | ||||||||||
Input | Transaction Type | Position | Change to Input | Fair Value | |||||||
Unit contingent | |||||||||||
discount | Electricity swaps | Sell | Increase (Decrease) | Decrease (Increase) | |||||||
Implied volatility | Electricity options | Sell | Increase (Decrease) | Increase (Decrease) | |||||||
Implied volatility | Electricity options | Buy | Increase (Decrease) | Increase (Decrease) | |||||||
The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries' assets that are accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. | |||||||||||
Entergy Arkansas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $41.70 | $- | $- | $41.70 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.2 | 426.6 | - | 430.8 | |||||||
Debt securities | 68.8 | 170.2 | - | 239 | |||||||
Securitization recovery trust account | 7.9 | - | - | 7.9 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$160.60 | $596.80 | $- | $757.40 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $24.90 | $- | $- | $24.90 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 9.5 | 374.5 | - | 384 | |||||||
Debt securities | 94.3 | 122.3 | - | 216.6 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$171.10 | $496.80 | $- | $667.90 | ||||||||
Entergy Gulf States Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.6 | 341.6 | - | 347.2 | |||||||
Debt securities | 53.3 | 137.1 | - | 190.4 | |||||||
Escrow accounts | 21.5 | - | - | 21.5 | |||||||
$81.00 | $478.70 | $- | $559.70 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.30 | $- | $- | $1.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.5 | 283 | - | 288.5 | |||||||
Debt securities | 49.5 | 139.4 | - | 188.9 | |||||||
Escrow accounts | 87 | - | - | 87 | |||||||
$142.60 | $422.40 | $- | $565.00 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.60 | $- | $- | $2.60 | |||||||
Entergy Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $40.50 | $- | $- | $40.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.6 | 210.1 | - | 214.7 | |||||||
Debt securities | 51.8 | 58.9 | - | 110.7 | |||||||
Securitization recovery trust account | 10.5 | - | - | 10.5 | |||||||
$107.40 | $269.00 | $- | $376.40 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.40 | $- | $- | $1.40 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $29.30 | $- | $- | $29.30 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 2 | 173.5 | - | 175.5 | |||||||
Debt securities | 52.6 | 59.3 | - | 111.9 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 187 | - | - | 187 | |||||||
$275.30 | $232.80 | $- | $508.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $3.40 | $- | $- | $3.40 | |||||||
Entergy Mississippi | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Escrow accounts | $61.80 | $- | $- | $61.80 | |||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.30 | $- | $- | $0.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $52.40 | $- | $- | $52.40 | |||||||
Escrow accounts | 61.8 | - | - | 61.8 | |||||||
$114.20 | $- | $- | $114.20 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.20 | $- | $- | $2.20 | |||||||
Entergy New Orleans | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $14.40 | $- | $- | $14.40 | |||||||
Escrow accounts | 8.7 | - | - | 8.7 | |||||||
$23.10 | $- | $- | $23.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.20 | $- | $- | $0.20 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $9.10 | $- | $- | $9.10 | |||||||
Escrow accounts | 10.6 | - | - | 10.6 | |||||||
$19.70 | $- | $- | $19.70 | ||||||||
Entergy Texas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $19.70 | $- | $- | $19.70 | |||||||
Securitization recovery trust account | 31.4 | - | - | 31.4 | |||||||
$51.10 | $- | $- | $51.10 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $59.70 | $- | $- | $59.70 | |||||||
Securitization recovery trust account | 37.3 | - | - | 37.3 | |||||||
$97.00 | $- | $- | $97.00 | ||||||||
System Energy | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investment | $3.10 | $- | $- | $3.10 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1 | 342.8 | - | 343.8 | |||||||
Debt securities | 151.6 | 68 | - | 219.6 | |||||||
$155.70 | $410.80 | $- | $566.50 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $83.50 | $- | $- | $83.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1.6Â | 282 | - | 283.6 | |||||||
Debt securities | 141.1 | 65.9Â | - | 207.0Â | |||||||
$226.20 | $347.90 | $- | $574.10 | ||||||||
(a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 for additional information on the investment portfolios. |
Decommissioning_Trust_Funds
Decommissioning Trust Funds | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Decommissioning Trust Funds | ' | ||||||||
NOTE 9. DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades (NYPA currently retains the decommissioning trusts and liabilities for Indian Point 3 and FitzPatrick). The funds are invested primarily in equity securities, fixed-rate fixed-income securities, and cash and cash equivalents. | |||||||||
           Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the nonregulated portion of River Bend, Entergy Gulf States Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders' equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders' equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. | |||||||||
The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $2,888 | $1,067 | $1 | ||||||
Debt Securities | 1,740 | 59 | 24 | ||||||
 Total | $4,628 | $1,126 | $25 | ||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2012 | |||||||||
Equity Securities | $2,459 | $662 | $1 | ||||||
Debt Securities | 1,731 | 116 | 5 | ||||||
 Total | $4,190 | $778 | $6 | ||||||
Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $276 million and $211 million as of September 30, 2013 and December 31, 2012, respectively. The amortized cost of debt securities was $1,709 million as of September 30, 2013 and $1,637 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 3.54%, an average duration of approximately 5.13 years, and an average maturity of approximately 7.68 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $19 | $1 | $589 | $21 | |||||
More than 12 months | - | - | 39 | 3 | |||||
 Total | $19 | $1 | $628 | $24 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $37 | $1 | $175 | $1 | |||||
More than 12 months | 20 | - | 48 | 4 | |||||
 Total | $57 | $1 | $223 | $5 | |||||
The unrealized losses in excess of twelve months on equity securities above relate to Entergy's Utility operating companies and System Energy. | |||||||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $109 | $53 | |||||||
1 year - 5 years | 679 | 681 | |||||||
5 years - 10 years | 574 | 562 | |||||||
10 years - 15 years | 145 | 164 | |||||||
15 years - 20 years | 59 | 61 | |||||||
20 years+ | 174 | 210 | |||||||
 Total | $1,740 | $1,731 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $284 million and $472 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $3 million and $8 million, respectively, and gross losses of $4 million and $0.2 million, respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $1,064 million and $1,417 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $25 million and $32 million, respectively, and gross losses of $7 million and $5 million, respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. | |||||||||
Entergy Arkansas | |||||||||
Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $430.80 | $181.70 | $- | ||||||
Debt Securities | 239 | 6.3 | 4.1 | ||||||
  Total | $669.80 | $188.00 | $4.10 | ||||||
2012 | |||||||||
Equity Securities | $384.00 | $116.10 | $- | ||||||
Debt Securities | 216.6 | 14.5 | 0.2 | ||||||
  Total | $600.60 | $130.60 | $0.20 | ||||||
The amortized cost of debt securities was $240 million as of September 30, 2013 and $202.3 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 2.83%, an average duration of approximately 5.30 years, and an average maturity of approximately 6.03 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $123.70 | $3.90 | |||||
More than 12 months | - | - | 3.3 | 0.2 | |||||
   Total | $0.10 | $- | $127.00 | $4.10 | |||||
           The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $24.40 | $0.20 | |||||
More than 12 months | - | - | 1 | - | |||||
   Total | $0.20 | $- | $25.40 | $0.20 | |||||
           The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.20 | $8.80 | |||||||
1 year - 5 years | 100.5 | 98.6 | |||||||
5 years - 10 years | 122.3 | 93.1 | |||||||
10 years - 15 years | 3.3 | 5.1 | |||||||
15 years - 20 years | 0.9 | - | |||||||
20 years+ | 3.8 | 11 | |||||||
 Total | $239.00 | $216.60 | |||||||
           During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $30.3 million and $15 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.6 million and $0.1 million, respectively, and gross losses of $0.1 million and $0.01 million, respectively were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $173.4 million and $103.4 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $9.3 million and $2.8 million, respectively, and gross losses of $0.2 million and $0.05 million, respectively were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Entergy Gulf States Louisiana | |||||||||
      Entergy Gulf States Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $347.20 | $118.00 | $- | ||||||
Debt Securities | 190.4 | 8.7 | 2.6 | ||||||
  Total | $537.60 | $126.70 | $2.60 | ||||||
2012 | |||||||||
Equity Securities | $288.50 | $69.80 | $- | ||||||
Debt Securities | 188.9 | 15.8 | 0.1 | ||||||
  Total | $477.40 | $85.60 | $0.10 | ||||||
The amortized cost of debt securities was $182.5 million as of September 30, 2013 and $174.1 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 4.58%, an average duration of approximately 5.46 years, and an average maturity of approximately 8.10 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.40 | $- | $60.00 | $2.60 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.40 | $- | $60.00 | $2.60 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.20 | $- | $9.10 | $0.10 | |||||
More than 12 months | 1 | - | - | - | |||||
 Total | $2.20 | $- | $9.10 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.00 | $8.00 | |||||||
1 year - 5 years | 41.7 | 43.5 | |||||||
5 years - 10 years | 71.5 | 63.5 | |||||||
10 years - 15 years | 52.8 | 55.8 | |||||||
15 years - 20 years | 6.5 | 8.5 | |||||||
20 years+ | 9.9 | 9.6 | |||||||
 Total | $190.40 | $188.90 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $19.5 million and $35.9 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.3 million and $3.9 million, respectively, and gross losses of $0.02 million and $0.7 thousand, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $66.2 million and $96.7 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $6.6 million and $6.4 million, respectively, and gross losses of $0.03 million and $0.03 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Entergy Louisiana | |||||||||
           Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $214.70 | $82.50 | $- | ||||||
Debt Securities | 110.7 | 5.6 | 1.5 | ||||||
  Total | $325.40 | $88.10 | $1.50 | ||||||
2012 | |||||||||
Equity Securities | $175.50 | $48.90 | $0.10 | ||||||
Debt Securities | 111.9 | 9.4 | 0.1 | ||||||
  Total | $287.40 | $58.30 | $0.20 | ||||||
The amortized cost of debt securities was $106.8 million as of September 30, 2013 and $102.6 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 3.42%, an average duration of approximately 4.91 years, and an average maturity of approximately 8.53 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $29.00 | $1.40 | |||||
More than 12 months | - | - | 0.6 | 0.1 | |||||
 Total | $0.10 | $- | $29.60 | $1.50 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.70 | $- | $3.40 | $- | |||||
More than 12 months | 5.6 | 0.1 | 0.5 | 0.1 | |||||
 Total | $6.30 | $0.10 | $3.90 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $14.40 | $1.90 | |||||||
1 year - 5 years | 32 | 42.3 | |||||||
5 years - 10 years | 35.6 | 24.9 | |||||||
10 years - 15 years | 6.5 | 18.8 | |||||||
15 years - 20 years | 4.5 | 1.7 | |||||||
20 years+ | 17.7 | 22.3 | |||||||
 Total | $110.70 | $111.90 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $2.7 million and $9.5 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.01 million and $0.1 million, respectively, and gross losses of $0.01 million and $0.5 thousand, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $12.2 million and $19.8 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $0.06 million and $0.2 million, respectively, and gross losses of $0.03 million and $0.03 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
System Energy | |||||||||
System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $343.80 | $117.90 | $- | ||||||
Debt Securities | 219.6 | 4.6 | 1.2 | ||||||
  Total | $563.40 | $122.50 | $1.20 | ||||||
2012 | |||||||||
Equity Securities | $283.60 | $63.60 | $0.20 | ||||||
Debt Securities | 207 | 9.3 | 0.1 | ||||||
  Total | $490.60 | $72.90 | $0.30 | ||||||
The amortized cost of debt securities was $216.5 million as of September 30, 2013 and $197.8 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 2.57%, an average duration of approximately 4.47 years, and an average maturity of approximately 5.97 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $52.90 | $1.20 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.20 | $- | $52.90 | $1.20 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.40 | $- | $15.50 | $0.10 | |||||
More than 12 months | 13 | 0.2 | - | - | |||||
 Total | $14.40 | $0.20 | $15.50 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $10.40 | $1.30 | |||||||
1 year - 5 years | 132.4 | 128.7 | |||||||
5 years - 10 years | 51 | 53.9 | |||||||
10 years - 15 years | 6.3 | 2.3 | |||||||
15 years - 20 years | 2 | 1.4 | |||||||
20 years+ | 17.5 | 19.4 | |||||||
 Total | $219.60 | $207.00 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $53.4 million and $91.8 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.1 million and $0.5 million, respectively, and gross losses of $0.8 million and $0.05 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $144.6 million and $315.0 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $0.9 million and $3.5 million, respectively, and gross losses of $1.2 million and $0.2 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Other-than-temporary impairments and unrealized gains and losses | |||||||||
Entergy, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy evaluate unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three and nine months ended September 30, 2013 and 2012. The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy's trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in the three and nine months ended September 30, 2013 and 2012, respectively, resulting from the recognition of the other-than-temporary impairment of certain equity securities held in its decommissioning trust funds. | |||||||||
Entergy Arkansas [Member] | ' | ||||||||
Decommissioning Trust Funds | ' | ||||||||
NOTE 9. DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades (NYPA currently retains the decommissioning trusts and liabilities for Indian Point 3 and FitzPatrick). The funds are invested primarily in equity securities, fixed-rate fixed-income securities, and cash and cash equivalents. | |||||||||
           Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the nonregulated portion of River Bend, Entergy Gulf States Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders' equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders' equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. | |||||||||
The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $2,888 | $1,067 | $1 | ||||||
Debt Securities | 1,740 | 59 | 24 | ||||||
 Total | $4,628 | $1,126 | $25 | ||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2012 | |||||||||
Equity Securities | $2,459 | $662 | $1 | ||||||
Debt Securities | 1,731 | 116 | 5 | ||||||
 Total | $4,190 | $778 | $6 | ||||||
Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $276 million and $211 million as of September 30, 2013 and December 31, 2012, respectively. The amortized cost of debt securities was $1,709 million as of September 30, 2013 and $1,637 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 3.54%, an average duration of approximately 5.13 years, and an average maturity of approximately 7.68 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $19 | $1 | $589 | $21 | |||||
More than 12 months | - | - | 39 | 3 | |||||
 Total | $19 | $1 | $628 | $24 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $37 | $1 | $175 | $1 | |||||
More than 12 months | 20 | - | 48 | 4 | |||||
 Total | $57 | $1 | $223 | $5 | |||||
The unrealized losses in excess of twelve months on equity securities above relate to Entergy's Utility operating companies and System Energy. | |||||||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $109 | $53 | |||||||
1 year - 5 years | 679 | 681 | |||||||
5 years - 10 years | 574 | 562 | |||||||
10 years - 15 years | 145 | 164 | |||||||
15 years - 20 years | 59 | 61 | |||||||
20 years+ | 174 | 210 | |||||||
 Total | $1,740 | $1,731 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $284 million and $472 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $3 million and $8 million, respectively, and gross losses of $4 million and $0.2 million, respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $1,064 million and $1,417 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $25 million and $32 million, respectively, and gross losses of $7 million and $5 million, respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. | |||||||||
Entergy Arkansas | |||||||||
Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $430.80 | $181.70 | $- | ||||||
Debt Securities | 239 | 6.3 | 4.1 | ||||||
  Total | $669.80 | $188.00 | $4.10 | ||||||
2012 | |||||||||
Equity Securities | $384.00 | $116.10 | $- | ||||||
Debt Securities | 216.6 | 14.5 | 0.2 | ||||||
  Total | $600.60 | $130.60 | $0.20 | ||||||
The amortized cost of debt securities was $240 million as of September 30, 2013 and $202.3 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 2.83%, an average duration of approximately 5.30 years, and an average maturity of approximately 6.03 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $123.70 | $3.90 | |||||
More than 12 months | - | - | 3.3 | 0.2 | |||||
   Total | $0.10 | $- | $127.00 | $4.10 | |||||
           The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $24.40 | $0.20 | |||||
More than 12 months | - | - | 1 | - | |||||
   Total | $0.20 | $- | $25.40 | $0.20 | |||||
           The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.20 | $8.80 | |||||||
1 year - 5 years | 100.5 | 98.6 | |||||||
5 years - 10 years | 122.3 | 93.1 | |||||||
10 years - 15 years | 3.3 | 5.1 | |||||||
15 years - 20 years | 0.9 | - | |||||||
20 years+ | 3.8 | 11 | |||||||
 Total | $239.00 | $216.60 | |||||||
           During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $30.3 million and $15 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.6 million and $0.1 million, respectively, and gross losses of $0.1 million and $0.01 million, respectively were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $173.4 million and $103.4 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $9.3 million and $2.8 million, respectively, and gross losses of $0.2 million and $0.05 million, respectively were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Entergy Gulf States Louisiana | |||||||||
      Entergy Gulf States Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $347.20 | $118.00 | $- | ||||||
Debt Securities | 190.4 | 8.7 | 2.6 | ||||||
  Total | $537.60 | $126.70 | $2.60 | ||||||
2012 | |||||||||
Equity Securities | $288.50 | $69.80 | $- | ||||||
Debt Securities | 188.9 | 15.8 | 0.1 | ||||||
  Total | $477.40 | $85.60 | $0.10 | ||||||
The amortized cost of debt securities was $182.5 million as of September 30, 2013 and $174.1 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 4.58%, an average duration of approximately 5.46 years, and an average maturity of approximately 8.10 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.40 | $- | $60.00 | $2.60 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.40 | $- | $60.00 | $2.60 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.20 | $- | $9.10 | $0.10 | |||||
More than 12 months | 1 | - | - | - | |||||
 Total | $2.20 | $- | $9.10 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.00 | $8.00 | |||||||
1 year - 5 years | 41.7 | 43.5 | |||||||
5 years - 10 years | 71.5 | 63.5 | |||||||
10 years - 15 years | 52.8 | 55.8 | |||||||
15 years - 20 years | 6.5 | 8.5 | |||||||
20 years+ | 9.9 | 9.6 | |||||||
 Total | $190.40 | $188.90 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $19.5 million and $35.9 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.3 million and $3.9 million, respectively, and gross losses of $0.02 million and $0.7 thousand, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $66.2 million and $96.7 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $6.6 million and $6.4 million, respectively, and gross losses of $0.03 million and $0.03 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Entergy Louisiana | |||||||||
           Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $214.70 | $82.50 | $- | ||||||
Debt Securities | 110.7 | 5.6 | 1.5 | ||||||
  Total | $325.40 | $88.10 | $1.50 | ||||||
2012 | |||||||||
Equity Securities | $175.50 | $48.90 | $0.10 | ||||||
Debt Securities | 111.9 | 9.4 | 0.1 | ||||||
  Total | $287.40 | $58.30 | $0.20 | ||||||
The amortized cost of debt securities was $106.8 million as of September 30, 2013 and $102.6 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 3.42%, an average duration of approximately 4.91 years, and an average maturity of approximately 8.53 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $29.00 | $1.40 | |||||
More than 12 months | - | - | 0.6 | 0.1 | |||||
 Total | $0.10 | $- | $29.60 | $1.50 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.70 | $- | $3.40 | $- | |||||
More than 12 months | 5.6 | 0.1 | 0.5 | 0.1 | |||||
 Total | $6.30 | $0.10 | $3.90 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $14.40 | $1.90 | |||||||
1 year - 5 years | 32 | 42.3 | |||||||
5 years - 10 years | 35.6 | 24.9 | |||||||
10 years - 15 years | 6.5 | 18.8 | |||||||
15 years - 20 years | 4.5 | 1.7 | |||||||
20 years+ | 17.7 | 22.3 | |||||||
 Total | $110.70 | $111.90 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $2.7 million and $9.5 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.01 million and $0.1 million, respectively, and gross losses of $0.01 million and $0.5 thousand, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $12.2 million and $19.8 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $0.06 million and $0.2 million, respectively, and gross losses of $0.03 million and $0.03 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
System Energy | |||||||||
System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $343.80 | $117.90 | $- | ||||||
Debt Securities | 219.6 | 4.6 | 1.2 | ||||||
  Total | $563.40 | $122.50 | $1.20 | ||||||
2012 | |||||||||
Equity Securities | $283.60 | $63.60 | $0.20 | ||||||
Debt Securities | 207 | 9.3 | 0.1 | ||||||
  Total | $490.60 | $72.90 | $0.30 | ||||||
The amortized cost of debt securities was $216.5 million as of September 30, 2013 and $197.8 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 2.57%, an average duration of approximately 4.47 years, and an average maturity of approximately 5.97 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $52.90 | $1.20 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.20 | $- | $52.90 | $1.20 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.40 | $- | $15.50 | $0.10 | |||||
More than 12 months | 13 | 0.2 | - | - | |||||
 Total | $14.40 | $0.20 | $15.50 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $10.40 | $1.30 | |||||||
1 year - 5 years | 132.4 | 128.7 | |||||||
5 years - 10 years | 51 | 53.9 | |||||||
10 years - 15 years | 6.3 | 2.3 | |||||||
15 years - 20 years | 2 | 1.4 | |||||||
20 years+ | 17.5 | 19.4 | |||||||
 Total | $219.60 | $207.00 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $53.4 million and $91.8 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.1 million and $0.5 million, respectively, and gross losses of $0.8 million and $0.05 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $144.6 million and $315.0 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $0.9 million and $3.5 million, respectively, and gross losses of $1.2 million and $0.2 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Other-than-temporary impairments and unrealized gains and losses | |||||||||
Entergy, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy evaluate unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three and nine months ended September 30, 2013 and 2012. The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy's trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in the three and nine months ended September 30, 2013 and 2012, respectively, resulting from the recognition of the other-than-temporary impairment of certain equity securities held in its decommissioning trust funds. | |||||||||
Entergy Gulf States Louisiana [Member] | ' | ||||||||
Decommissioning Trust Funds | ' | ||||||||
NOTE 9. DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades (NYPA currently retains the decommissioning trusts and liabilities for Indian Point 3 and FitzPatrick). The funds are invested primarily in equity securities, fixed-rate fixed-income securities, and cash and cash equivalents. | |||||||||
           Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the nonregulated portion of River Bend, Entergy Gulf States Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders' equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders' equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. | |||||||||
The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $2,888 | $1,067 | $1 | ||||||
Debt Securities | 1,740 | 59 | 24 | ||||||
 Total | $4,628 | $1,126 | $25 | ||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2012 | |||||||||
Equity Securities | $2,459 | $662 | $1 | ||||||
Debt Securities | 1,731 | 116 | 5 | ||||||
 Total | $4,190 | $778 | $6 | ||||||
Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $276 million and $211 million as of September 30, 2013 and December 31, 2012, respectively. The amortized cost of debt securities was $1,709 million as of September 30, 2013 and $1,637 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 3.54%, an average duration of approximately 5.13 years, and an average maturity of approximately 7.68 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $19 | $1 | $589 | $21 | |||||
More than 12 months | - | - | 39 | 3 | |||||
 Total | $19 | $1 | $628 | $24 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $37 | $1 | $175 | $1 | |||||
More than 12 months | 20 | - | 48 | 4 | |||||
 Total | $57 | $1 | $223 | $5 | |||||
The unrealized losses in excess of twelve months on equity securities above relate to Entergy's Utility operating companies and System Energy. | |||||||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $109 | $53 | |||||||
1 year - 5 years | 679 | 681 | |||||||
5 years - 10 years | 574 | 562 | |||||||
10 years - 15 years | 145 | 164 | |||||||
15 years - 20 years | 59 | 61 | |||||||
20 years+ | 174 | 210 | |||||||
 Total | $1,740 | $1,731 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $284 million and $472 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $3 million and $8 million, respectively, and gross losses of $4 million and $0.2 million, respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $1,064 million and $1,417 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $25 million and $32 million, respectively, and gross losses of $7 million and $5 million, respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. | |||||||||
Entergy Arkansas | |||||||||
Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $430.80 | $181.70 | $- | ||||||
Debt Securities | 239 | 6.3 | 4.1 | ||||||
  Total | $669.80 | $188.00 | $4.10 | ||||||
2012 | |||||||||
Equity Securities | $384.00 | $116.10 | $- | ||||||
Debt Securities | 216.6 | 14.5 | 0.2 | ||||||
  Total | $600.60 | $130.60 | $0.20 | ||||||
The amortized cost of debt securities was $240 million as of September 30, 2013 and $202.3 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 2.83%, an average duration of approximately 5.30 years, and an average maturity of approximately 6.03 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $123.70 | $3.90 | |||||
More than 12 months | - | - | 3.3 | 0.2 | |||||
   Total | $0.10 | $- | $127.00 | $4.10 | |||||
           The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $24.40 | $0.20 | |||||
More than 12 months | - | - | 1 | - | |||||
   Total | $0.20 | $- | $25.40 | $0.20 | |||||
           The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.20 | $8.80 | |||||||
1 year - 5 years | 100.5 | 98.6 | |||||||
5 years - 10 years | 122.3 | 93.1 | |||||||
10 years - 15 years | 3.3 | 5.1 | |||||||
15 years - 20 years | 0.9 | - | |||||||
20 years+ | 3.8 | 11 | |||||||
 Total | $239.00 | $216.60 | |||||||
           During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $30.3 million and $15 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.6 million and $0.1 million, respectively, and gross losses of $0.1 million and $0.01 million, respectively were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $173.4 million and $103.4 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $9.3 million and $2.8 million, respectively, and gross losses of $0.2 million and $0.05 million, respectively were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Entergy Gulf States Louisiana | |||||||||
      Entergy Gulf States Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $347.20 | $118.00 | $- | ||||||
Debt Securities | 190.4 | 8.7 | 2.6 | ||||||
  Total | $537.60 | $126.70 | $2.60 | ||||||
2012 | |||||||||
Equity Securities | $288.50 | $69.80 | $- | ||||||
Debt Securities | 188.9 | 15.8 | 0.1 | ||||||
  Total | $477.40 | $85.60 | $0.10 | ||||||
The amortized cost of debt securities was $182.5 million as of September 30, 2013 and $174.1 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 4.58%, an average duration of approximately 5.46 years, and an average maturity of approximately 8.10 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.40 | $- | $60.00 | $2.60 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.40 | $- | $60.00 | $2.60 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.20 | $- | $9.10 | $0.10 | |||||
More than 12 months | 1 | - | - | - | |||||
 Total | $2.20 | $- | $9.10 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.00 | $8.00 | |||||||
1 year - 5 years | 41.7 | 43.5 | |||||||
5 years - 10 years | 71.5 | 63.5 | |||||||
10 years - 15 years | 52.8 | 55.8 | |||||||
15 years - 20 years | 6.5 | 8.5 | |||||||
20 years+ | 9.9 | 9.6 | |||||||
 Total | $190.40 | $188.90 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $19.5 million and $35.9 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.3 million and $3.9 million, respectively, and gross losses of $0.02 million and $0.7 thousand, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $66.2 million and $96.7 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $6.6 million and $6.4 million, respectively, and gross losses of $0.03 million and $0.03 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Entergy Louisiana | |||||||||
           Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $214.70 | $82.50 | $- | ||||||
Debt Securities | 110.7 | 5.6 | 1.5 | ||||||
  Total | $325.40 | $88.10 | $1.50 | ||||||
2012 | |||||||||
Equity Securities | $175.50 | $48.90 | $0.10 | ||||||
Debt Securities | 111.9 | 9.4 | 0.1 | ||||||
  Total | $287.40 | $58.30 | $0.20 | ||||||
The amortized cost of debt securities was $106.8 million as of September 30, 2013 and $102.6 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 3.42%, an average duration of approximately 4.91 years, and an average maturity of approximately 8.53 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $29.00 | $1.40 | |||||
More than 12 months | - | - | 0.6 | 0.1 | |||||
 Total | $0.10 | $- | $29.60 | $1.50 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.70 | $- | $3.40 | $- | |||||
More than 12 months | 5.6 | 0.1 | 0.5 | 0.1 | |||||
 Total | $6.30 | $0.10 | $3.90 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $14.40 | $1.90 | |||||||
1 year - 5 years | 32 | 42.3 | |||||||
5 years - 10 years | 35.6 | 24.9 | |||||||
10 years - 15 years | 6.5 | 18.8 | |||||||
15 years - 20 years | 4.5 | 1.7 | |||||||
20 years+ | 17.7 | 22.3 | |||||||
 Total | $110.70 | $111.90 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $2.7 million and $9.5 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.01 million and $0.1 million, respectively, and gross losses of $0.01 million and $0.5 thousand, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $12.2 million and $19.8 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $0.06 million and $0.2 million, respectively, and gross losses of $0.03 million and $0.03 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
System Energy | |||||||||
System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $343.80 | $117.90 | $- | ||||||
Debt Securities | 219.6 | 4.6 | 1.2 | ||||||
  Total | $563.40 | $122.50 | $1.20 | ||||||
2012 | |||||||||
Equity Securities | $283.60 | $63.60 | $0.20 | ||||||
Debt Securities | 207 | 9.3 | 0.1 | ||||||
  Total | $490.60 | $72.90 | $0.30 | ||||||
The amortized cost of debt securities was $216.5 million as of September 30, 2013 and $197.8 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 2.57%, an average duration of approximately 4.47 years, and an average maturity of approximately 5.97 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $52.90 | $1.20 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.20 | $- | $52.90 | $1.20 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.40 | $- | $15.50 | $0.10 | |||||
More than 12 months | 13 | 0.2 | - | - | |||||
 Total | $14.40 | $0.20 | $15.50 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $10.40 | $1.30 | |||||||
1 year - 5 years | 132.4 | 128.7 | |||||||
5 years - 10 years | 51 | 53.9 | |||||||
10 years - 15 years | 6.3 | 2.3 | |||||||
15 years - 20 years | 2 | 1.4 | |||||||
20 years+ | 17.5 | 19.4 | |||||||
 Total | $219.60 | $207.00 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $53.4 million and $91.8 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.1 million and $0.5 million, respectively, and gross losses of $0.8 million and $0.05 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $144.6 million and $315.0 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $0.9 million and $3.5 million, respectively, and gross losses of $1.2 million and $0.2 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Other-than-temporary impairments and unrealized gains and losses | |||||||||
Entergy, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy evaluate unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three and nine months ended September 30, 2013 and 2012. The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy's trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in the three and nine months ended September 30, 2013 and 2012, respectively, resulting from the recognition of the other-than-temporary impairment of certain equity securities held in its decommissioning trust funds. | |||||||||
Entergy Louisiana [Member] | ' | ||||||||
Decommissioning Trust Funds | ' | ||||||||
NOTE 9. DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades (NYPA currently retains the decommissioning trusts and liabilities for Indian Point 3 and FitzPatrick). The funds are invested primarily in equity securities, fixed-rate fixed-income securities, and cash and cash equivalents. | |||||||||
           Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the nonregulated portion of River Bend, Entergy Gulf States Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders' equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders' equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. | |||||||||
The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $2,888 | $1,067 | $1 | ||||||
Debt Securities | 1,740 | 59 | 24 | ||||||
 Total | $4,628 | $1,126 | $25 | ||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2012 | |||||||||
Equity Securities | $2,459 | $662 | $1 | ||||||
Debt Securities | 1,731 | 116 | 5 | ||||||
 Total | $4,190 | $778 | $6 | ||||||
Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $276 million and $211 million as of September 30, 2013 and December 31, 2012, respectively. The amortized cost of debt securities was $1,709 million as of September 30, 2013 and $1,637 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 3.54%, an average duration of approximately 5.13 years, and an average maturity of approximately 7.68 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $19 | $1 | $589 | $21 | |||||
More than 12 months | - | - | 39 | 3 | |||||
 Total | $19 | $1 | $628 | $24 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $37 | $1 | $175 | $1 | |||||
More than 12 months | 20 | - | 48 | 4 | |||||
 Total | $57 | $1 | $223 | $5 | |||||
The unrealized losses in excess of twelve months on equity securities above relate to Entergy's Utility operating companies and System Energy. | |||||||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $109 | $53 | |||||||
1 year - 5 years | 679 | 681 | |||||||
5 years - 10 years | 574 | 562 | |||||||
10 years - 15 years | 145 | 164 | |||||||
15 years - 20 years | 59 | 61 | |||||||
20 years+ | 174 | 210 | |||||||
 Total | $1,740 | $1,731 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $284 million and $472 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $3 million and $8 million, respectively, and gross losses of $4 million and $0.2 million, respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $1,064 million and $1,417 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $25 million and $32 million, respectively, and gross losses of $7 million and $5 million, respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. | |||||||||
Entergy Arkansas | |||||||||
Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $430.80 | $181.70 | $- | ||||||
Debt Securities | 239 | 6.3 | 4.1 | ||||||
  Total | $669.80 | $188.00 | $4.10 | ||||||
2012 | |||||||||
Equity Securities | $384.00 | $116.10 | $- | ||||||
Debt Securities | 216.6 | 14.5 | 0.2 | ||||||
  Total | $600.60 | $130.60 | $0.20 | ||||||
The amortized cost of debt securities was $240 million as of September 30, 2013 and $202.3 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 2.83%, an average duration of approximately 5.30 years, and an average maturity of approximately 6.03 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $123.70 | $3.90 | |||||
More than 12 months | - | - | 3.3 | 0.2 | |||||
   Total | $0.10 | $- | $127.00 | $4.10 | |||||
           The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $24.40 | $0.20 | |||||
More than 12 months | - | - | 1 | - | |||||
   Total | $0.20 | $- | $25.40 | $0.20 | |||||
           The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.20 | $8.80 | |||||||
1 year - 5 years | 100.5 | 98.6 | |||||||
5 years - 10 years | 122.3 | 93.1 | |||||||
10 years - 15 years | 3.3 | 5.1 | |||||||
15 years - 20 years | 0.9 | - | |||||||
20 years+ | 3.8 | 11 | |||||||
 Total | $239.00 | $216.60 | |||||||
           During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $30.3 million and $15 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.6 million and $0.1 million, respectively, and gross losses of $0.1 million and $0.01 million, respectively were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $173.4 million and $103.4 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $9.3 million and $2.8 million, respectively, and gross losses of $0.2 million and $0.05 million, respectively were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Entergy Gulf States Louisiana | |||||||||
      Entergy Gulf States Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $347.20 | $118.00 | $- | ||||||
Debt Securities | 190.4 | 8.7 | 2.6 | ||||||
  Total | $537.60 | $126.70 | $2.60 | ||||||
2012 | |||||||||
Equity Securities | $288.50 | $69.80 | $- | ||||||
Debt Securities | 188.9 | 15.8 | 0.1 | ||||||
  Total | $477.40 | $85.60 | $0.10 | ||||||
The amortized cost of debt securities was $182.5 million as of September 30, 2013 and $174.1 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 4.58%, an average duration of approximately 5.46 years, and an average maturity of approximately 8.10 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.40 | $- | $60.00 | $2.60 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.40 | $- | $60.00 | $2.60 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.20 | $- | $9.10 | $0.10 | |||||
More than 12 months | 1 | - | - | - | |||||
 Total | $2.20 | $- | $9.10 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.00 | $8.00 | |||||||
1 year - 5 years | 41.7 | 43.5 | |||||||
5 years - 10 years | 71.5 | 63.5 | |||||||
10 years - 15 years | 52.8 | 55.8 | |||||||
15 years - 20 years | 6.5 | 8.5 | |||||||
20 years+ | 9.9 | 9.6 | |||||||
 Total | $190.40 | $188.90 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $19.5 million and $35.9 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.3 million and $3.9 million, respectively, and gross losses of $0.02 million and $0.7 thousand, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $66.2 million and $96.7 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $6.6 million and $6.4 million, respectively, and gross losses of $0.03 million and $0.03 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Entergy Louisiana | |||||||||
           Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $214.70 | $82.50 | $- | ||||||
Debt Securities | 110.7 | 5.6 | 1.5 | ||||||
  Total | $325.40 | $88.10 | $1.50 | ||||||
2012 | |||||||||
Equity Securities | $175.50 | $48.90 | $0.10 | ||||||
Debt Securities | 111.9 | 9.4 | 0.1 | ||||||
  Total | $287.40 | $58.30 | $0.20 | ||||||
The amortized cost of debt securities was $106.8 million as of September 30, 2013 and $102.6 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 3.42%, an average duration of approximately 4.91 years, and an average maturity of approximately 8.53 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $29.00 | $1.40 | |||||
More than 12 months | - | - | 0.6 | 0.1 | |||||
 Total | $0.10 | $- | $29.60 | $1.50 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.70 | $- | $3.40 | $- | |||||
More than 12 months | 5.6 | 0.1 | 0.5 | 0.1 | |||||
 Total | $6.30 | $0.10 | $3.90 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $14.40 | $1.90 | |||||||
1 year - 5 years | 32 | 42.3 | |||||||
5 years - 10 years | 35.6 | 24.9 | |||||||
10 years - 15 years | 6.5 | 18.8 | |||||||
15 years - 20 years | 4.5 | 1.7 | |||||||
20 years+ | 17.7 | 22.3 | |||||||
 Total | $110.70 | $111.90 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $2.7 million and $9.5 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.01 million and $0.1 million, respectively, and gross losses of $0.01 million and $0.5 thousand, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $12.2 million and $19.8 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $0.06 million and $0.2 million, respectively, and gross losses of $0.03 million and $0.03 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
System Energy | |||||||||
System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $343.80 | $117.90 | $- | ||||||
Debt Securities | 219.6 | 4.6 | 1.2 | ||||||
  Total | $563.40 | $122.50 | $1.20 | ||||||
2012 | |||||||||
Equity Securities | $283.60 | $63.60 | $0.20 | ||||||
Debt Securities | 207 | 9.3 | 0.1 | ||||||
  Total | $490.60 | $72.90 | $0.30 | ||||||
The amortized cost of debt securities was $216.5 million as of September 30, 2013 and $197.8 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 2.57%, an average duration of approximately 4.47 years, and an average maturity of approximately 5.97 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $52.90 | $1.20 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.20 | $- | $52.90 | $1.20 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.40 | $- | $15.50 | $0.10 | |||||
More than 12 months | 13 | 0.2 | - | - | |||||
 Total | $14.40 | $0.20 | $15.50 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $10.40 | $1.30 | |||||||
1 year - 5 years | 132.4 | 128.7 | |||||||
5 years - 10 years | 51 | 53.9 | |||||||
10 years - 15 years | 6.3 | 2.3 | |||||||
15 years - 20 years | 2 | 1.4 | |||||||
20 years+ | 17.5 | 19.4 | |||||||
 Total | $219.60 | $207.00 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $53.4 million and $91.8 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.1 million and $0.5 million, respectively, and gross losses of $0.8 million and $0.05 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $144.6 million and $315.0 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $0.9 million and $3.5 million, respectively, and gross losses of $1.2 million and $0.2 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Other-than-temporary impairments and unrealized gains and losses | |||||||||
Entergy, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy evaluate unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three and nine months ended September 30, 2013 and 2012. The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy's trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in the three and nine months ended September 30, 2013 and 2012, respectively, resulting from the recognition of the other-than-temporary impairment of certain equity securities held in its decommissioning trust funds. | |||||||||
System Energy [Member] | ' | ||||||||
Decommissioning Trust Funds | ' | ||||||||
NOTE 9. DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) | |||||||||
Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The NRC requires Entergy subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades (NYPA currently retains the decommissioning trusts and liabilities for Indian Point 3 and FitzPatrick). The funds are invested primarily in equity securities, fixed-rate fixed-income securities, and cash and cash equivalents. | |||||||||
           Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the nonregulated portion of River Bend, Entergy Gulf States Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders' equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders' equity unless the unrealized loss is other than temporary and therefore recorded in earnings. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. | |||||||||
The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $2,888 | $1,067 | $1 | ||||||
Debt Securities | 1,740 | 59 | 24 | ||||||
 Total | $4,628 | $1,126 | $25 | ||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2012 | |||||||||
Equity Securities | $2,459 | $662 | $1 | ||||||
Debt Securities | 1,731 | 116 | 5 | ||||||
 Total | $4,190 | $778 | $6 | ||||||
Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $276 million and $211 million as of September 30, 2013 and December 31, 2012, respectively. The amortized cost of debt securities was $1,709 million as of September 30, 2013 and $1,637 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 3.54%, an average duration of approximately 5.13 years, and an average maturity of approximately 7.68 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $19 | $1 | $589 | $21 | |||||
More than 12 months | - | - | 39 | 3 | |||||
 Total | $19 | $1 | $628 | $24 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $37 | $1 | $175 | $1 | |||||
More than 12 months | 20 | - | 48 | 4 | |||||
 Total | $57 | $1 | $223 | $5 | |||||
The unrealized losses in excess of twelve months on equity securities above relate to Entergy's Utility operating companies and System Energy. | |||||||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $109 | $53 | |||||||
1 year - 5 years | 679 | 681 | |||||||
5 years - 10 years | 574 | 562 | |||||||
10 years - 15 years | 145 | 164 | |||||||
15 years - 20 years | 59 | 61 | |||||||
20 years+ | 174 | 210 | |||||||
 Total | $1,740 | $1,731 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $284 million and $472 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $3 million and $8 million, respectively, and gross losses of $4 million and $0.2 million, respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $1,064 million and $1,417 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $25 million and $32 million, respectively, and gross losses of $7 million and $5 million, respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. | |||||||||
Entergy Arkansas | |||||||||
Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $430.80 | $181.70 | $- | ||||||
Debt Securities | 239 | 6.3 | 4.1 | ||||||
  Total | $669.80 | $188.00 | $4.10 | ||||||
2012 | |||||||||
Equity Securities | $384.00 | $116.10 | $- | ||||||
Debt Securities | 216.6 | 14.5 | 0.2 | ||||||
  Total | $600.60 | $130.60 | $0.20 | ||||||
The amortized cost of debt securities was $240 million as of September 30, 2013 and $202.3 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 2.83%, an average duration of approximately 5.30 years, and an average maturity of approximately 6.03 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $123.70 | $3.90 | |||||
More than 12 months | - | - | 3.3 | 0.2 | |||||
   Total | $0.10 | $- | $127.00 | $4.10 | |||||
           The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $24.40 | $0.20 | |||||
More than 12 months | - | - | 1 | - | |||||
   Total | $0.20 | $- | $25.40 | $0.20 | |||||
           The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.20 | $8.80 | |||||||
1 year - 5 years | 100.5 | 98.6 | |||||||
5 years - 10 years | 122.3 | 93.1 | |||||||
10 years - 15 years | 3.3 | 5.1 | |||||||
15 years - 20 years | 0.9 | - | |||||||
20 years+ | 3.8 | 11 | |||||||
 Total | $239.00 | $216.60 | |||||||
           During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $30.3 million and $15 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.6 million and $0.1 million, respectively, and gross losses of $0.1 million and $0.01 million, respectively were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $173.4 million and $103.4 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $9.3 million and $2.8 million, respectively, and gross losses of $0.2 million and $0.05 million, respectively were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Entergy Gulf States Louisiana | |||||||||
      Entergy Gulf States Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $347.20 | $118.00 | $- | ||||||
Debt Securities | 190.4 | 8.7 | 2.6 | ||||||
  Total | $537.60 | $126.70 | $2.60 | ||||||
2012 | |||||||||
Equity Securities | $288.50 | $69.80 | $- | ||||||
Debt Securities | 188.9 | 15.8 | 0.1 | ||||||
  Total | $477.40 | $85.60 | $0.10 | ||||||
The amortized cost of debt securities was $182.5 million as of September 30, 2013 and $174.1 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 4.58%, an average duration of approximately 5.46 years, and an average maturity of approximately 8.10 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.40 | $- | $60.00 | $2.60 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.40 | $- | $60.00 | $2.60 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.20 | $- | $9.10 | $0.10 | |||||
More than 12 months | 1 | - | - | - | |||||
 Total | $2.20 | $- | $9.10 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.00 | $8.00 | |||||||
1 year - 5 years | 41.7 | 43.5 | |||||||
5 years - 10 years | 71.5 | 63.5 | |||||||
10 years - 15 years | 52.8 | 55.8 | |||||||
15 years - 20 years | 6.5 | 8.5 | |||||||
20 years+ | 9.9 | 9.6 | |||||||
 Total | $190.40 | $188.90 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $19.5 million and $35.9 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.3 million and $3.9 million, respectively, and gross losses of $0.02 million and $0.7 thousand, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $66.2 million and $96.7 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $6.6 million and $6.4 million, respectively, and gross losses of $0.03 million and $0.03 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Entergy Louisiana | |||||||||
           Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $214.70 | $82.50 | $- | ||||||
Debt Securities | 110.7 | 5.6 | 1.5 | ||||||
  Total | $325.40 | $88.10 | $1.50 | ||||||
2012 | |||||||||
Equity Securities | $175.50 | $48.90 | $0.10 | ||||||
Debt Securities | 111.9 | 9.4 | 0.1 | ||||||
  Total | $287.40 | $58.30 | $0.20 | ||||||
The amortized cost of debt securities was $106.8 million as of September 30, 2013 and $102.6 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 3.42%, an average duration of approximately 4.91 years, and an average maturity of approximately 8.53 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $29.00 | $1.40 | |||||
More than 12 months | - | - | 0.6 | 0.1 | |||||
 Total | $0.10 | $- | $29.60 | $1.50 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.70 | $- | $3.40 | $- | |||||
More than 12 months | 5.6 | 0.1 | 0.5 | 0.1 | |||||
 Total | $6.30 | $0.10 | $3.90 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $14.40 | $1.90 | |||||||
1 year - 5 years | 32 | 42.3 | |||||||
5 years - 10 years | 35.6 | 24.9 | |||||||
10 years - 15 years | 6.5 | 18.8 | |||||||
15 years - 20 years | 4.5 | 1.7 | |||||||
20 years+ | 17.7 | 22.3 | |||||||
 Total | $110.70 | $111.90 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $2.7 million and $9.5 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.01 million and $0.1 million, respectively, and gross losses of $0.01 million and $0.5 thousand, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $12.2 million and $19.8 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $0.06 million and $0.2 million, respectively, and gross losses of $0.03 million and $0.03 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
System Energy | |||||||||
System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $343.80 | $117.90 | $- | ||||||
Debt Securities | 219.6 | 4.6 | 1.2 | ||||||
  Total | $563.40 | $122.50 | $1.20 | ||||||
2012 | |||||||||
Equity Securities | $283.60 | $63.60 | $0.20 | ||||||
Debt Securities | 207 | 9.3 | 0.1 | ||||||
  Total | $490.60 | $72.90 | $0.30 | ||||||
The amortized cost of debt securities was $216.5 million as of September 30, 2013 and $197.8 million as of December 31, 2012. As of September 30, 2013, the debt securities have an average coupon rate of approximately 2.57%, an average duration of approximately 4.47 years, and an average maturity of approximately 5.97 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. | |||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $52.90 | $1.20 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.20 | $- | $52.90 | $1.20 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.40 | $- | $15.50 | $0.10 | |||||
More than 12 months | 13 | 0.2 | - | - | |||||
 Total | $14.40 | $0.20 | $15.50 | $0.10 | |||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $10.40 | $1.30 | |||||||
1 year - 5 years | 132.4 | 128.7 | |||||||
5 years - 10 years | 51 | 53.9 | |||||||
10 years - 15 years | 6.3 | 2.3 | |||||||
15 years - 20 years | 2 | 1.4 | |||||||
20 years+ | 17.5 | 19.4 | |||||||
 Total | $219.60 | $207.00 | |||||||
During the three months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $53.4 million and $91.8 million, respectively. During the three months ended September 30, 2013 and 2012, gross gains of $0.1 million and $0.5 million, respectively, and gross losses of $0.8 million and $0.05 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
During the nine months ended September 30, 2013 and 2012, proceeds from the dispositions of securities amounted to $144.6 million and $315.0 million, respectively. During the nine months ended September 30, 2013 and 2012, gross gains of $0.9 million and $3.5 million, respectively, and gross losses of $1.2 million and $0.2 million, respectively, were reclassified out of other regulatory liabilities/assets into earnings. | |||||||||
Other-than-temporary impairments and unrealized gains and losses | |||||||||
Entergy, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy evaluate unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three and nine months ended September 30, 2013 and 2012. The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy's trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in the three and nine months ended September 30, 2013 and 2012, respectively, resulting from the recognition of the other-than-temporary impairment of certain equity securities held in its decommissioning trust funds. | |||||||||
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Taxes | ' |
NOTE 10. INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Income Tax Litigation, Income Tax Audits, and Other Tax Matters in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. Following are updates to that disclosure. | |
           In March 2013, Entergy Louisiana distributed to its parent, Entergy Louisiana Holdings, Inc., Louisiana income tax credits of $20.6 million which resulted in a decrease in Entergy Louisiana's member's equity account. | |
           As discussed in the Form 10-K, oral argument in PPL's U.K. Windfall Tax case at the United States Supreme Court was heard in February 2013. On May 20, 2013, the Supreme Court issued a unanimous decision in PPL's favor, holding that the U.K. Windfall Tax is a creditable tax for U.S. federal income tax purposes. On May 28, 2013, the Supreme Court denied the petition for certiorari filed by the Commissioner of Internal Revenue in Entergy's U.K. Windfall Tax case, allowing the decision in Entergy's favor from the United States Court of Appeals for the Fifth Circuit to become final. | |
In the third quarter 2013, the IRS issued its Revenue Agent's Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described in the Form 10-K except for the Applications for Change in Accounting Method (the 2009 CAM). Entergy disagrees with the IRS's disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division on October 24, 2013. The issuance of the RAR by the IRS effectively settles all other issues which resulted in an adjustment to the provision for uncertain tax positions. Entergy also negotiated favorable interest settlements with state taxing authorities which allowed for an adjustment to the provision for uncertain tax positions. | |
Entergy also reduced a valuation allowance that had been provided on a state net operating loss carryover due to the prospective utilization of such loss carryover. | |
In September 2013 the IRS issued final regulations that provide guidance on the deductibility and capitalization of costs incurred associated with tangible property.  Although Entergy continues to analyze these regulations, which contain numerous complex provisions, Entergy currently estimates that the effect of the regulations would result in a $348 million reduction of Entergy's repair and maintenance tax deduction, including decreases of $114 million for Entergy Arkansas, $34 million for Entergy Gulf States Louisiana, $22 million for Entergy Louisiana, $43 million for Entergy Mississippi, $137 million for Entergy Texas, and an increase of $2 million for Entergy New Orleans.  | |
Entergy Arkansas [Member] | ' |
Income Taxes | ' |
NOTE 10. INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Income Tax Litigation, Income Tax Audits, and Other Tax Matters in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. Following are updates to that disclosure. | |
           In March 2013, Entergy Louisiana distributed to its parent, Entergy Louisiana Holdings, Inc., Louisiana income tax credits of $20.6 million which resulted in a decrease in Entergy Louisiana's member's equity account. | |
           As discussed in the Form 10-K, oral argument in PPL's U.K. Windfall Tax case at the United States Supreme Court was heard in February 2013. On May 20, 2013, the Supreme Court issued a unanimous decision in PPL's favor, holding that the U.K. Windfall Tax is a creditable tax for U.S. federal income tax purposes. On May 28, 2013, the Supreme Court denied the petition for certiorari filed by the Commissioner of Internal Revenue in Entergy's U.K. Windfall Tax case, allowing the decision in Entergy's favor from the United States Court of Appeals for the Fifth Circuit to become final. | |
In the third quarter 2013, the IRS issued its Revenue Agent's Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described in the Form 10-K except for the Applications for Change in Accounting Method (the 2009 CAM). Entergy disagrees with the IRS's disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division on October 24, 2013. The issuance of the RAR by the IRS effectively settles all other issues which resulted in an adjustment to the provision for uncertain tax positions. Entergy also negotiated favorable interest settlements with state taxing authorities which allowed for an adjustment to the provision for uncertain tax positions. | |
Entergy also reduced a valuation allowance that had been provided on a state net operating loss carryover due to the prospective utilization of such loss carryover. | |
In September 2013 the IRS issued final regulations that provide guidance on the deductibility and capitalization of costs incurred associated with tangible property.  Although Entergy continues to analyze these regulations, which contain numerous complex provisions, Entergy currently estimates that the effect of the regulations would result in a $348 million reduction of Entergy's repair and maintenance tax deduction, including decreases of $114 million for Entergy Arkansas, $34 million for Entergy Gulf States Louisiana, $22 million for Entergy Louisiana, $43 million for Entergy Mississippi, $137 million for Entergy Texas, and an increase of $2 million for Entergy New Orleans.  | |
Entergy Gulf States Louisiana [Member] | ' |
Income Taxes | ' |
NOTE 10. INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Income Tax Litigation, Income Tax Audits, and Other Tax Matters in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. Following are updates to that disclosure. | |
           In March 2013, Entergy Louisiana distributed to its parent, Entergy Louisiana Holdings, Inc., Louisiana income tax credits of $20.6 million which resulted in a decrease in Entergy Louisiana's member's equity account. | |
           As discussed in the Form 10-K, oral argument in PPL's U.K. Windfall Tax case at the United States Supreme Court was heard in February 2013. On May 20, 2013, the Supreme Court issued a unanimous decision in PPL's favor, holding that the U.K. Windfall Tax is a creditable tax for U.S. federal income tax purposes. On May 28, 2013, the Supreme Court denied the petition for certiorari filed by the Commissioner of Internal Revenue in Entergy's U.K. Windfall Tax case, allowing the decision in Entergy's favor from the United States Court of Appeals for the Fifth Circuit to become final. | |
In the third quarter 2013, the IRS issued its Revenue Agent's Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described in the Form 10-K except for the Applications for Change in Accounting Method (the 2009 CAM). Entergy disagrees with the IRS's disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division on October 24, 2013. The issuance of the RAR by the IRS effectively settles all other issues which resulted in an adjustment to the provision for uncertain tax positions. Entergy also negotiated favorable interest settlements with state taxing authorities which allowed for an adjustment to the provision for uncertain tax positions. | |
Entergy also reduced a valuation allowance that had been provided on a state net operating loss carryover due to the prospective utilization of such loss carryover. | |
In September 2013 the IRS issued final regulations that provide guidance on the deductibility and capitalization of costs incurred associated with tangible property.  Although Entergy continues to analyze these regulations, which contain numerous complex provisions, Entergy currently estimates that the effect of the regulations would result in a $348 million reduction of Entergy's repair and maintenance tax deduction, including decreases of $114 million for Entergy Arkansas, $34 million for Entergy Gulf States Louisiana, $22 million for Entergy Louisiana, $43 million for Entergy Mississippi, $137 million for Entergy Texas, and an increase of $2 million for Entergy New Orleans.  | |
Entergy Louisiana [Member] | ' |
Income Taxes | ' |
NOTE 10. INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Income Tax Litigation, Income Tax Audits, and Other Tax Matters in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. Following are updates to that disclosure. | |
           In March 2013, Entergy Louisiana distributed to its parent, Entergy Louisiana Holdings, Inc., Louisiana income tax credits of $20.6 million which resulted in a decrease in Entergy Louisiana's member's equity account. | |
           As discussed in the Form 10-K, oral argument in PPL's U.K. Windfall Tax case at the United States Supreme Court was heard in February 2013. On May 20, 2013, the Supreme Court issued a unanimous decision in PPL's favor, holding that the U.K. Windfall Tax is a creditable tax for U.S. federal income tax purposes. On May 28, 2013, the Supreme Court denied the petition for certiorari filed by the Commissioner of Internal Revenue in Entergy's U.K. Windfall Tax case, allowing the decision in Entergy's favor from the United States Court of Appeals for the Fifth Circuit to become final. | |
In the third quarter 2013, the IRS issued its Revenue Agent's Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described in the Form 10-K except for the Applications for Change in Accounting Method (the 2009 CAM). Entergy disagrees with the IRS's disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division on October 24, 2013. The issuance of the RAR by the IRS effectively settles all other issues which resulted in an adjustment to the provision for uncertain tax positions. Entergy also negotiated favorable interest settlements with state taxing authorities which allowed for an adjustment to the provision for uncertain tax positions. | |
Entergy also reduced a valuation allowance that had been provided on a state net operating loss carryover due to the prospective utilization of such loss carryover. | |
In September 2013 the IRS issued final regulations that provide guidance on the deductibility and capitalization of costs incurred associated with tangible property.  Although Entergy continues to analyze these regulations, which contain numerous complex provisions, Entergy currently estimates that the effect of the regulations would result in a $348 million reduction of Entergy's repair and maintenance tax deduction, including decreases of $114 million for Entergy Arkansas, $34 million for Entergy Gulf States Louisiana, $22 million for Entergy Louisiana, $43 million for Entergy Mississippi, $137 million for Entergy Texas, and an increase of $2 million for Entergy New Orleans.  | |
Entergy Mississippi [Member] | ' |
Income Taxes | ' |
NOTE 10. INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Income Tax Litigation, Income Tax Audits, and Other Tax Matters in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. Following are updates to that disclosure. | |
           In March 2013, Entergy Louisiana distributed to its parent, Entergy Louisiana Holdings, Inc., Louisiana income tax credits of $20.6 million which resulted in a decrease in Entergy Louisiana's member's equity account. | |
           As discussed in the Form 10-K, oral argument in PPL's U.K. Windfall Tax case at the United States Supreme Court was heard in February 2013. On May 20, 2013, the Supreme Court issued a unanimous decision in PPL's favor, holding that the U.K. Windfall Tax is a creditable tax for U.S. federal income tax purposes. On May 28, 2013, the Supreme Court denied the petition for certiorari filed by the Commissioner of Internal Revenue in Entergy's U.K. Windfall Tax case, allowing the decision in Entergy's favor from the United States Court of Appeals for the Fifth Circuit to become final. | |
In the third quarter 2013, the IRS issued its Revenue Agent's Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described in the Form 10-K except for the Applications for Change in Accounting Method (the 2009 CAM). Entergy disagrees with the IRS's disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division on October 24, 2013. The issuance of the RAR by the IRS effectively settles all other issues which resulted in an adjustment to the provision for uncertain tax positions. Entergy also negotiated favorable interest settlements with state taxing authorities which allowed for an adjustment to the provision for uncertain tax positions. | |
Entergy also reduced a valuation allowance that had been provided on a state net operating loss carryover due to the prospective utilization of such loss carryover. | |
In September 2013 the IRS issued final regulations that provide guidance on the deductibility and capitalization of costs incurred associated with tangible property.  Although Entergy continues to analyze these regulations, which contain numerous complex provisions, Entergy currently estimates that the effect of the regulations would result in a $348 million reduction of Entergy's repair and maintenance tax deduction, including decreases of $114 million for Entergy Arkansas, $34 million for Entergy Gulf States Louisiana, $22 million for Entergy Louisiana, $43 million for Entergy Mississippi, $137 million for Entergy Texas, and an increase of $2 million for Entergy New Orleans.  | |
Entergy New Orleans | ' |
Income Taxes | ' |
NOTE 10. INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Income Tax Litigation, Income Tax Audits, and Other Tax Matters in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. Following are updates to that disclosure. | |
           In March 2013, Entergy Louisiana distributed to its parent, Entergy Louisiana Holdings, Inc., Louisiana income tax credits of $20.6 million which resulted in a decrease in Entergy Louisiana's member's equity account. | |
           As discussed in the Form 10-K, oral argument in PPL's U.K. Windfall Tax case at the United States Supreme Court was heard in February 2013. On May 20, 2013, the Supreme Court issued a unanimous decision in PPL's favor, holding that the U.K. Windfall Tax is a creditable tax for U.S. federal income tax purposes. On May 28, 2013, the Supreme Court denied the petition for certiorari filed by the Commissioner of Internal Revenue in Entergy's U.K. Windfall Tax case, allowing the decision in Entergy's favor from the United States Court of Appeals for the Fifth Circuit to become final. | |
In the third quarter 2013, the IRS issued its Revenue Agent's Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described in the Form 10-K except for the Applications for Change in Accounting Method (the 2009 CAM). Entergy disagrees with the IRS's disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division on October 24, 2013. The issuance of the RAR by the IRS effectively settles all other issues which resulted in an adjustment to the provision for uncertain tax positions. Entergy also negotiated favorable interest settlements with state taxing authorities which allowed for an adjustment to the provision for uncertain tax positions. | |
Entergy also reduced a valuation allowance that had been provided on a state net operating loss carryover due to the prospective utilization of such loss carryover. | |
In September 2013 the IRS issued final regulations that provide guidance on the deductibility and capitalization of costs incurred associated with tangible property.  Although Entergy continues to analyze these regulations, which contain numerous complex provisions, Entergy currently estimates that the effect of the regulations would result in a $348 million reduction of Entergy's repair and maintenance tax deduction, including decreases of $114 million for Entergy Arkansas, $34 million for Entergy Gulf States Louisiana, $22 million for Entergy Louisiana, $43 million for Entergy Mississippi, $137 million for Entergy Texas, and an increase of $2 million for Entergy New Orleans.  | |
Entergy Texas [Member] | ' |
Income Taxes | ' |
NOTE 10. INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Income Tax Litigation, Income Tax Audits, and Other Tax Matters in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. Following are updates to that disclosure. | |
           In March 2013, Entergy Louisiana distributed to its parent, Entergy Louisiana Holdings, Inc., Louisiana income tax credits of $20.6 million which resulted in a decrease in Entergy Louisiana's member's equity account. | |
           As discussed in the Form 10-K, oral argument in PPL's U.K. Windfall Tax case at the United States Supreme Court was heard in February 2013. On May 20, 2013, the Supreme Court issued a unanimous decision in PPL's favor, holding that the U.K. Windfall Tax is a creditable tax for U.S. federal income tax purposes. On May 28, 2013, the Supreme Court denied the petition for certiorari filed by the Commissioner of Internal Revenue in Entergy's U.K. Windfall Tax case, allowing the decision in Entergy's favor from the United States Court of Appeals for the Fifth Circuit to become final. | |
In the third quarter 2013, the IRS issued its Revenue Agent's Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described in the Form 10-K except for the Applications for Change in Accounting Method (the 2009 CAM). Entergy disagrees with the IRS's disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division on October 24, 2013. The issuance of the RAR by the IRS effectively settles all other issues which resulted in an adjustment to the provision for uncertain tax positions. Entergy also negotiated favorable interest settlements with state taxing authorities which allowed for an adjustment to the provision for uncertain tax positions. | |
Entergy also reduced a valuation allowance that had been provided on a state net operating loss carryover due to the prospective utilization of such loss carryover. | |
In September 2013 the IRS issued final regulations that provide guidance on the deductibility and capitalization of costs incurred associated with tangible property.  Although Entergy continues to analyze these regulations, which contain numerous complex provisions, Entergy currently estimates that the effect of the regulations would result in a $348 million reduction of Entergy's repair and maintenance tax deduction, including decreases of $114 million for Entergy Arkansas, $34 million for Entergy Gulf States Louisiana, $22 million for Entergy Louisiana, $43 million for Entergy Mississippi, $137 million for Entergy Texas, and an increase of $2 million for Entergy New Orleans.  | |
System Energy [Member] | ' |
Income Taxes | ' |
NOTE 10. INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Income Tax Litigation, Income Tax Audits, and Other Tax Matters in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. Following are updates to that disclosure. | |
           In March 2013, Entergy Louisiana distributed to its parent, Entergy Louisiana Holdings, Inc., Louisiana income tax credits of $20.6 million which resulted in a decrease in Entergy Louisiana's member's equity account. | |
           As discussed in the Form 10-K, oral argument in PPL's U.K. Windfall Tax case at the United States Supreme Court was heard in February 2013. On May 20, 2013, the Supreme Court issued a unanimous decision in PPL's favor, holding that the U.K. Windfall Tax is a creditable tax for U.S. federal income tax purposes. On May 28, 2013, the Supreme Court denied the petition for certiorari filed by the Commissioner of Internal Revenue in Entergy's U.K. Windfall Tax case, allowing the decision in Entergy's favor from the United States Court of Appeals for the Fifth Circuit to become final. | |
In the third quarter 2013, the IRS issued its Revenue Agent's Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described in the Form 10-K except for the Applications for Change in Accounting Method (the 2009 CAM). Entergy disagrees with the IRS's disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division on October 24, 2013. The issuance of the RAR by the IRS effectively settles all other issues which resulted in an adjustment to the provision for uncertain tax positions. Entergy also negotiated favorable interest settlements with state taxing authorities which allowed for an adjustment to the provision for uncertain tax positions. | |
Entergy also reduced a valuation allowance that had been provided on a state net operating loss carryover due to the prospective utilization of such loss carryover. | |
In September 2013 the IRS issued final regulations that provide guidance on the deductibility and capitalization of costs incurred associated with tangible property.  Although Entergy continues to analyze these regulations, which contain numerous complex provisions, Entergy currently estimates that the effect of the regulations would result in a $348 million reduction of Entergy's repair and maintenance tax deduction, including decreases of $114 million for Entergy Arkansas, $34 million for Entergy Gulf States Louisiana, $22 million for Entergy Louisiana, $43 million for Entergy Mississippi, $137 million for Entergy Texas, and an increase of $2 million for Entergy New Orleans.  | |
Property_Plant_And_Equipment
Property, Plant, And Equipment | 9 Months Ended | ||
Sep. 30, 2013 | |||
Property, Plant And Equipment | ' | ||
NOTE 11. PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||
Construction Expenditures in Accounts Payable | |||
           Construction expenditures included in accounts payable at September 30, 2013 are $91.5 million for Entergy, $25.6 million for Entergy Arkansas, $17.7 million for Entergy Gulf States Louisiana, $12.4 million for Entergy Louisiana, $0.8 million for Entergy Mississippi, $1.4 million for Entergy New Orleans, $4.7 million for Entergy Texas, and $5.2 million for System Energy. Construction expenditures included in accounts payable at December 31, 2012 are $267 million for Entergy, $56.3 million for Entergy Arkansas, $9.7 million for Entergy Gulf States Louisiana, $110.4 million for Entergy Louisiana, $4.8 million for Entergy Mississippi, $1.9 million for Entergy New Orleans, $8.6 million for Entergy Texas, and $13.5 million for System Energy. | |||
Impairment of Long-Lived Assets | |||
          See "Impairment of Long-Lived Assets" in Note 1 to the financial statements in the Form 10-K for a discussion of the periodic reviews that Entergy performs whenever events or changes in circumstances indicate that the recoverability of long-lived assets is uncertain. Following are updates to that discussion regarding the Vermont Yankee nuclear power plant. | |||
First, as discussed in the Form 10-K, Entergy was seeking a Certificate of Public Good from the Vermont Public Service Board (VPSB) for operation of Vermont Yankee until March 2032. In June 2013 the VPSB completed hearings on that petition and established a schedule providing for proposals for decision and initial briefs to be filed in August 2013 and reply briefs to be filed in September 2013. After Entergy announced its plan to close Vermont Yankee in the fourth quarter of 2014, as discussed below, Entergy amended its Certificate of Public Good request to seek authorization to operate Vermont Yankee only through 2014. The VPSB thereafter postponed the date for reply briefs to be filed until October 2013 and invited comments on the reply briefs to be filed in November 2013. Second, as discussed in the Form 10-K, the New England Coalition in December 2012 filed a complaint in the Vermont Supreme Court seeking an order to shut down Vermont Yankee while its Certificate of Public Good application is pending, and Entergy moved to dismiss that complaint. On March 25, 2013, the Vermont Supreme Court granted Entergy's motion and dismissed the complaint. Third, as discussed in the Form 10-K, Entergy appealed a January 2013 order of the VPSB that made ripe for appeal two earlier orders in which the VPSB had found that the state's timely renewal law, 3 V.S.A. § 814(b), did not apply to certain conditions in the orders issued by the VPSB in 2002 and 2006 precluding Vermont Yankee's operation after March 21, 2012. Briefing of this appeal has been completed. After Entergy announced its plan to close Vermont Yankee in 2014, the Vermont Supreme Court placed the appeal on waiting status until after the VPSB has ruled on Vermont Yankee's pending petition for a Certificate of Public Good. Fourth, as discussed in the Form 10-K, in February 2013 the VPSB issued a notice allowing comments to be filed regarding Vermont Yankee's petition for a Certificate of Public Good to install a diesel generator to enable it to comply with the NRC's station blackout requirements. On June 6, 2013, the VPSB issued a Certificate of Public Good for the diesel generator. The generator was installed and put into service before the September 1, 2013 deadline for compliance with these NRC requirements. Fifth, on August 14, 2013, the U.S. Court of Appeals for the Second Circuit affirmed the January 2012 District Court decision that the Atomic Energy Act preempts Vermont's laws requiring the Legislature's authorization for Vermont Yankee to operate after March 21, 2012 and to store spent nuclear fuel from some operation and also affirmed the District Court's permanent injunction prohibiting enforcement of these Vermont laws. The Second Circuit reversed the District Court's decision that Vermont's efforts to condition a CPG upon the existence of a below wholesale market power sales agreement violated the Dormant Commerce Clause of the U.S. Constitution, and affirmed the District Court's decision that such efforts were not preempted by the Federal Power Act, on the ground that these claims were not yet ripe. | |||
Impairments of Vermont Yankee | |||
           See the Form 10-K for a discussion of the impairment charge recorded for the Vermont Yankee plant in the first quarter 2012. | |||
           On August 27, 2013, Entergy announced its plan to close and decommission Vermont Yankee. Vermont Yankee is expected to cease power production in the fourth quarter 2014 after its current fuel cycle. This decision was approved by the Board in August 2013. The decision to shut down the plant was primarily due to sustained low natural gas and wholesale energy prices, the high cost structure of the plant, and lack of a market structure that adequately compensates merchant nuclear plants for their environmental and fuel diversity benefits in the region in which the plant operates. | |||
           As a result of the decision to shut down the plant, Entergy recognized non-cash impairment and other related charges of $291.5 million ($183.7 million after-tax) during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. Entergy performed a fair value analysis based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimated fair value of the plant and related assets was $62 million, while the carrying value was $349 million. The carrying value of $349 million reflects the effect of a $58 million increase in Vermont Yankee's estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations. The impairment and other related charges are recorded as a separate line item in Entergy's consolidated statements of income for the three and nine months ended September 30, 2013 and is included within the results of the Entergy Wholesale Commodities segment. | |||
           The estimate of fair value was based on the price that Entergy would expect to receive in a hypothetical sale of the Vermont Yankee plant and related assets to a market participant. In order to determine this price, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis), and estimated weighted average costs of capital were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plant and related assets. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, is classified as Level 3 in the fair value hierarchy discussed in Note 8 to the financial statements. | |||
           The following table sets forth a description of significant unobservable inputs used in the valuation of the Vermont Yankee plant and related assets: | |||
Significant Unobservable Input | Amount | ||
Weighted average cost of capital | 7.50% | ||
Long-term pre-tax operating margin (cash basis) | 7.00% | ||
Entergy's Accounting Policy group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the Vermont Yankee plant and related assets, in consultation with external advisors. Entergy's Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair value of the asset group. | |||
In addition to the impairment charge and depreciation of the remaining plant balance by the end of 2014, Entergy expects to record additional charges through the end of 2014 totaling approximately $55 million to $60 million related to severance and employee retention costs relating to the shutdown of Vermont Yankee. | |||
Entergy Arkansas [Member] | ' | ||
Property, Plant And Equipment | ' | ||
NOTE 11. PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||
Construction Expenditures in Accounts Payable | |||
           Construction expenditures included in accounts payable at September 30, 2013 are $91.5 million for Entergy, $25.6 million for Entergy Arkansas, $17.7 million for Entergy Gulf States Louisiana, $12.4 million for Entergy Louisiana, $0.8 million for Entergy Mississippi, $1.4 million for Entergy New Orleans, $4.7 million for Entergy Texas, and $5.2 million for System Energy. Construction expenditures included in accounts payable at December 31, 2012 are $267 million for Entergy, $56.3 million for Entergy Arkansas, $9.7 million for Entergy Gulf States Louisiana, $110.4 million for Entergy Louisiana, $4.8 million for Entergy Mississippi, $1.9 million for Entergy New Orleans, $8.6 million for Entergy Texas, and $13.5 million for System Energy. | |||
Impairment of Long-Lived Assets | |||
          See "Impairment of Long-Lived Assets" in Note 1 to the financial statements in the Form 10-K for a discussion of the periodic reviews that Entergy performs whenever events or changes in circumstances indicate that the recoverability of long-lived assets is uncertain. Following are updates to that discussion regarding the Vermont Yankee nuclear power plant. | |||
First, as discussed in the Form 10-K, Entergy was seeking a Certificate of Public Good from the Vermont Public Service Board (VPSB) for operation of Vermont Yankee until March 2032. In June 2013 the VPSB completed hearings on that petition and established a schedule providing for proposals for decision and initial briefs to be filed in August 2013 and reply briefs to be filed in September 2013. After Entergy announced its plan to close Vermont Yankee in the fourth quarter of 2014, as discussed below, Entergy amended its Certificate of Public Good request to seek authorization to operate Vermont Yankee only through 2014. The VPSB thereafter postponed the date for reply briefs to be filed until October 2013 and invited comments on the reply briefs to be filed in November 2013. Second, as discussed in the Form 10-K, the New England Coalition in December 2012 filed a complaint in the Vermont Supreme Court seeking an order to shut down Vermont Yankee while its Certificate of Public Good application is pending, and Entergy moved to dismiss that complaint. On March 25, 2013, the Vermont Supreme Court granted Entergy's motion and dismissed the complaint. Third, as discussed in the Form 10-K, Entergy appealed a January 2013 order of the VPSB that made ripe for appeal two earlier orders in which the VPSB had found that the state's timely renewal law, 3 V.S.A. § 814(b), did not apply to certain conditions in the orders issued by the VPSB in 2002 and 2006 precluding Vermont Yankee's operation after March 21, 2012. Briefing of this appeal has been completed. After Entergy announced its plan to close Vermont Yankee in 2014, the Vermont Supreme Court placed the appeal on waiting status until after the VPSB has ruled on Vermont Yankee's pending petition for a Certificate of Public Good. Fourth, as discussed in the Form 10-K, in February 2013 the VPSB issued a notice allowing comments to be filed regarding Vermont Yankee's petition for a Certificate of Public Good to install a diesel generator to enable it to comply with the NRC's station blackout requirements. On June 6, 2013, the VPSB issued a Certificate of Public Good for the diesel generator. The generator was installed and put into service before the September 1, 2013 deadline for compliance with these NRC requirements. Fifth, on August 14, 2013, the U.S. Court of Appeals for the Second Circuit affirmed the January 2012 District Court decision that the Atomic Energy Act preempts Vermont's laws requiring the Legislature's authorization for Vermont Yankee to operate after March 21, 2012 and to store spent nuclear fuel from some operation and also affirmed the District Court's permanent injunction prohibiting enforcement of these Vermont laws. The Second Circuit reversed the District Court's decision that Vermont's efforts to condition a CPG upon the existence of a below wholesale market power sales agreement violated the Dormant Commerce Clause of the U.S. Constitution, and affirmed the District Court's decision that such efforts were not preempted by the Federal Power Act, on the ground that these claims were not yet ripe. | |||
Impairments of Vermont Yankee | |||
           See the Form 10-K for a discussion of the impairment charge recorded for the Vermont Yankee plant in the first quarter 2012. | |||
           On August 27, 2013, Entergy announced its plan to close and decommission Vermont Yankee. Vermont Yankee is expected to cease power production in the fourth quarter 2014 after its current fuel cycle. This decision was approved by the Board in August 2013. The decision to shut down the plant was primarily due to sustained low natural gas and wholesale energy prices, the high cost structure of the plant, and lack of a market structure that adequately compensates merchant nuclear plants for their environmental and fuel diversity benefits in the region in which the plant operates. | |||
           As a result of the decision to shut down the plant, Entergy recognized non-cash impairment and other related charges of $291.5 million ($183.7 million after-tax) during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. Entergy performed a fair value analysis based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimated fair value of the plant and related assets was $62 million, while the carrying value was $349 million. The carrying value of $349 million reflects the effect of a $58 million increase in Vermont Yankee's estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations. The impairment and other related charges are recorded as a separate line item in Entergy's consolidated statements of income for the three and nine months ended September 30, 2013 and is included within the results of the Entergy Wholesale Commodities segment. | |||
           The estimate of fair value was based on the price that Entergy would expect to receive in a hypothetical sale of the Vermont Yankee plant and related assets to a market participant. In order to determine this price, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis), and estimated weighted average costs of capital were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plant and related assets. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, is classified as Level 3 in the fair value hierarchy discussed in Note 8 to the financial statements. | |||
           The following table sets forth a description of significant unobservable inputs used in the valuation of the Vermont Yankee plant and related assets: | |||
Significant Unobservable Input | Amount | ||
Weighted average cost of capital | 7.50% | ||
Long-term pre-tax operating margin (cash basis) | 7.00% | ||
Entergy's Accounting Policy group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the Vermont Yankee plant and related assets, in consultation with external advisors. Entergy's Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair value of the asset group. | |||
In addition to the impairment charge and depreciation of the remaining plant balance by the end of 2014, Entergy expects to record additional charges through the end of 2014 totaling approximately $55 million to $60 million related to severance and employee retention costs relating to the shutdown of Vermont Yankee. | |||
Entergy Gulf States Louisiana [Member] | ' | ||
Property, Plant And Equipment | ' | ||
NOTE 11. PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||
Construction Expenditures in Accounts Payable | |||
           Construction expenditures included in accounts payable at September 30, 2013 are $91.5 million for Entergy, $25.6 million for Entergy Arkansas, $17.7 million for Entergy Gulf States Louisiana, $12.4 million for Entergy Louisiana, $0.8 million for Entergy Mississippi, $1.4 million for Entergy New Orleans, $4.7 million for Entergy Texas, and $5.2 million for System Energy. Construction expenditures included in accounts payable at December 31, 2012 are $267 million for Entergy, $56.3 million for Entergy Arkansas, $9.7 million for Entergy Gulf States Louisiana, $110.4 million for Entergy Louisiana, $4.8 million for Entergy Mississippi, $1.9 million for Entergy New Orleans, $8.6 million for Entergy Texas, and $13.5 million for System Energy. | |||
Impairment of Long-Lived Assets | |||
          See "Impairment of Long-Lived Assets" in Note 1 to the financial statements in the Form 10-K for a discussion of the periodic reviews that Entergy performs whenever events or changes in circumstances indicate that the recoverability of long-lived assets is uncertain. Following are updates to that discussion regarding the Vermont Yankee nuclear power plant. | |||
First, as discussed in the Form 10-K, Entergy was seeking a Certificate of Public Good from the Vermont Public Service Board (VPSB) for operation of Vermont Yankee until March 2032. In June 2013 the VPSB completed hearings on that petition and established a schedule providing for proposals for decision and initial briefs to be filed in August 2013 and reply briefs to be filed in September 2013. After Entergy announced its plan to close Vermont Yankee in the fourth quarter of 2014, as discussed below, Entergy amended its Certificate of Public Good request to seek authorization to operate Vermont Yankee only through 2014. The VPSB thereafter postponed the date for reply briefs to be filed until October 2013 and invited comments on the reply briefs to be filed in November 2013. Second, as discussed in the Form 10-K, the New England Coalition in December 2012 filed a complaint in the Vermont Supreme Court seeking an order to shut down Vermont Yankee while its Certificate of Public Good application is pending, and Entergy moved to dismiss that complaint. On March 25, 2013, the Vermont Supreme Court granted Entergy's motion and dismissed the complaint. Third, as discussed in the Form 10-K, Entergy appealed a January 2013 order of the VPSB that made ripe for appeal two earlier orders in which the VPSB had found that the state's timely renewal law, 3 V.S.A. § 814(b), did not apply to certain conditions in the orders issued by the VPSB in 2002 and 2006 precluding Vermont Yankee's operation after March 21, 2012. Briefing of this appeal has been completed. After Entergy announced its plan to close Vermont Yankee in 2014, the Vermont Supreme Court placed the appeal on waiting status until after the VPSB has ruled on Vermont Yankee's pending petition for a Certificate of Public Good. Fourth, as discussed in the Form 10-K, in February 2013 the VPSB issued a notice allowing comments to be filed regarding Vermont Yankee's petition for a Certificate of Public Good to install a diesel generator to enable it to comply with the NRC's station blackout requirements. On June 6, 2013, the VPSB issued a Certificate of Public Good for the diesel generator. The generator was installed and put into service before the September 1, 2013 deadline for compliance with these NRC requirements. Fifth, on August 14, 2013, the U.S. Court of Appeals for the Second Circuit affirmed the January 2012 District Court decision that the Atomic Energy Act preempts Vermont's laws requiring the Legislature's authorization for Vermont Yankee to operate after March 21, 2012 and to store spent nuclear fuel from some operation and also affirmed the District Court's permanent injunction prohibiting enforcement of these Vermont laws. The Second Circuit reversed the District Court's decision that Vermont's efforts to condition a CPG upon the existence of a below wholesale market power sales agreement violated the Dormant Commerce Clause of the U.S. Constitution, and affirmed the District Court's decision that such efforts were not preempted by the Federal Power Act, on the ground that these claims were not yet ripe. | |||
Impairments of Vermont Yankee | |||
           See the Form 10-K for a discussion of the impairment charge recorded for the Vermont Yankee plant in the first quarter 2012. | |||
           On August 27, 2013, Entergy announced its plan to close and decommission Vermont Yankee. Vermont Yankee is expected to cease power production in the fourth quarter 2014 after its current fuel cycle. This decision was approved by the Board in August 2013. The decision to shut down the plant was primarily due to sustained low natural gas and wholesale energy prices, the high cost structure of the plant, and lack of a market structure that adequately compensates merchant nuclear plants for their environmental and fuel diversity benefits in the region in which the plant operates. | |||
           As a result of the decision to shut down the plant, Entergy recognized non-cash impairment and other related charges of $291.5 million ($183.7 million after-tax) during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. Entergy performed a fair value analysis based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimated fair value of the plant and related assets was $62 million, while the carrying value was $349 million. The carrying value of $349 million reflects the effect of a $58 million increase in Vermont Yankee's estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations. The impairment and other related charges are recorded as a separate line item in Entergy's consolidated statements of income for the three and nine months ended September 30, 2013 and is included within the results of the Entergy Wholesale Commodities segment. | |||
           The estimate of fair value was based on the price that Entergy would expect to receive in a hypothetical sale of the Vermont Yankee plant and related assets to a market participant. In order to determine this price, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis), and estimated weighted average costs of capital were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plant and related assets. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, is classified as Level 3 in the fair value hierarchy discussed in Note 8 to the financial statements. | |||
           The following table sets forth a description of significant unobservable inputs used in the valuation of the Vermont Yankee plant and related assets: | |||
Significant Unobservable Input | Amount | ||
Weighted average cost of capital | 7.50% | ||
Long-term pre-tax operating margin (cash basis) | 7.00% | ||
Entergy's Accounting Policy group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the Vermont Yankee plant and related assets, in consultation with external advisors. Entergy's Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair value of the asset group. | |||
In addition to the impairment charge and depreciation of the remaining plant balance by the end of 2014, Entergy expects to record additional charges through the end of 2014 totaling approximately $55 million to $60 million related to severance and employee retention costs relating to the shutdown of Vermont Yankee. | |||
Entergy Louisiana [Member] | ' | ||
Property, Plant And Equipment | ' | ||
NOTE 11. PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||
Construction Expenditures in Accounts Payable | |||
           Construction expenditures included in accounts payable at September 30, 2013 are $91.5 million for Entergy, $25.6 million for Entergy Arkansas, $17.7 million for Entergy Gulf States Louisiana, $12.4 million for Entergy Louisiana, $0.8 million for Entergy Mississippi, $1.4 million for Entergy New Orleans, $4.7 million for Entergy Texas, and $5.2 million for System Energy. Construction expenditures included in accounts payable at December 31, 2012 are $267 million for Entergy, $56.3 million for Entergy Arkansas, $9.7 million for Entergy Gulf States Louisiana, $110.4 million for Entergy Louisiana, $4.8 million for Entergy Mississippi, $1.9 million for Entergy New Orleans, $8.6 million for Entergy Texas, and $13.5 million for System Energy. | |||
Impairment of Long-Lived Assets | |||
          See "Impairment of Long-Lived Assets" in Note 1 to the financial statements in the Form 10-K for a discussion of the periodic reviews that Entergy performs whenever events or changes in circumstances indicate that the recoverability of long-lived assets is uncertain. Following are updates to that discussion regarding the Vermont Yankee nuclear power plant. | |||
First, as discussed in the Form 10-K, Entergy was seeking a Certificate of Public Good from the Vermont Public Service Board (VPSB) for operation of Vermont Yankee until March 2032. In June 2013 the VPSB completed hearings on that petition and established a schedule providing for proposals for decision and initial briefs to be filed in August 2013 and reply briefs to be filed in September 2013. After Entergy announced its plan to close Vermont Yankee in the fourth quarter of 2014, as discussed below, Entergy amended its Certificate of Public Good request to seek authorization to operate Vermont Yankee only through 2014. The VPSB thereafter postponed the date for reply briefs to be filed until October 2013 and invited comments on the reply briefs to be filed in November 2013. Second, as discussed in the Form 10-K, the New England Coalition in December 2012 filed a complaint in the Vermont Supreme Court seeking an order to shut down Vermont Yankee while its Certificate of Public Good application is pending, and Entergy moved to dismiss that complaint. On March 25, 2013, the Vermont Supreme Court granted Entergy's motion and dismissed the complaint. Third, as discussed in the Form 10-K, Entergy appealed a January 2013 order of the VPSB that made ripe for appeal two earlier orders in which the VPSB had found that the state's timely renewal law, 3 V.S.A. § 814(b), did not apply to certain conditions in the orders issued by the VPSB in 2002 and 2006 precluding Vermont Yankee's operation after March 21, 2012. Briefing of this appeal has been completed. After Entergy announced its plan to close Vermont Yankee in 2014, the Vermont Supreme Court placed the appeal on waiting status until after the VPSB has ruled on Vermont Yankee's pending petition for a Certificate of Public Good. Fourth, as discussed in the Form 10-K, in February 2013 the VPSB issued a notice allowing comments to be filed regarding Vermont Yankee's petition for a Certificate of Public Good to install a diesel generator to enable it to comply with the NRC's station blackout requirements. On June 6, 2013, the VPSB issued a Certificate of Public Good for the diesel generator. The generator was installed and put into service before the September 1, 2013 deadline for compliance with these NRC requirements. Fifth, on August 14, 2013, the U.S. Court of Appeals for the Second Circuit affirmed the January 2012 District Court decision that the Atomic Energy Act preempts Vermont's laws requiring the Legislature's authorization for Vermont Yankee to operate after March 21, 2012 and to store spent nuclear fuel from some operation and also affirmed the District Court's permanent injunction prohibiting enforcement of these Vermont laws. The Second Circuit reversed the District Court's decision that Vermont's efforts to condition a CPG upon the existence of a below wholesale market power sales agreement violated the Dormant Commerce Clause of the U.S. Constitution, and affirmed the District Court's decision that such efforts were not preempted by the Federal Power Act, on the ground that these claims were not yet ripe. | |||
Impairments of Vermont Yankee | |||
           See the Form 10-K for a discussion of the impairment charge recorded for the Vermont Yankee plant in the first quarter 2012. | |||
           On August 27, 2013, Entergy announced its plan to close and decommission Vermont Yankee. Vermont Yankee is expected to cease power production in the fourth quarter 2014 after its current fuel cycle. This decision was approved by the Board in August 2013. The decision to shut down the plant was primarily due to sustained low natural gas and wholesale energy prices, the high cost structure of the plant, and lack of a market structure that adequately compensates merchant nuclear plants for their environmental and fuel diversity benefits in the region in which the plant operates. | |||
           As a result of the decision to shut down the plant, Entergy recognized non-cash impairment and other related charges of $291.5 million ($183.7 million after-tax) during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. Entergy performed a fair value analysis based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimated fair value of the plant and related assets was $62 million, while the carrying value was $349 million. The carrying value of $349 million reflects the effect of a $58 million increase in Vermont Yankee's estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations. The impairment and other related charges are recorded as a separate line item in Entergy's consolidated statements of income for the three and nine months ended September 30, 2013 and is included within the results of the Entergy Wholesale Commodities segment. | |||
           The estimate of fair value was based on the price that Entergy would expect to receive in a hypothetical sale of the Vermont Yankee plant and related assets to a market participant. In order to determine this price, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis), and estimated weighted average costs of capital were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plant and related assets. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, is classified as Level 3 in the fair value hierarchy discussed in Note 8 to the financial statements. | |||
           The following table sets forth a description of significant unobservable inputs used in the valuation of the Vermont Yankee plant and related assets: | |||
Significant Unobservable Input | Amount | ||
Weighted average cost of capital | 7.50% | ||
Long-term pre-tax operating margin (cash basis) | 7.00% | ||
Entergy's Accounting Policy group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the Vermont Yankee plant and related assets, in consultation with external advisors. Entergy's Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair value of the asset group. | |||
In addition to the impairment charge and depreciation of the remaining plant balance by the end of 2014, Entergy expects to record additional charges through the end of 2014 totaling approximately $55 million to $60 million related to severance and employee retention costs relating to the shutdown of Vermont Yankee. | |||
Entergy Mississippi [Member] | ' | ||
Property, Plant And Equipment | ' | ||
NOTE 11. PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||
Construction Expenditures in Accounts Payable | |||
           Construction expenditures included in accounts payable at September 30, 2013 are $91.5 million for Entergy, $25.6 million for Entergy Arkansas, $17.7 million for Entergy Gulf States Louisiana, $12.4 million for Entergy Louisiana, $0.8 million for Entergy Mississippi, $1.4 million for Entergy New Orleans, $4.7 million for Entergy Texas, and $5.2 million for System Energy. Construction expenditures included in accounts payable at December 31, 2012 are $267 million for Entergy, $56.3 million for Entergy Arkansas, $9.7 million for Entergy Gulf States Louisiana, $110.4 million for Entergy Louisiana, $4.8 million for Entergy Mississippi, $1.9 million for Entergy New Orleans, $8.6 million for Entergy Texas, and $13.5 million for System Energy. | |||
Impairment of Long-Lived Assets | |||
          See "Impairment of Long-Lived Assets" in Note 1 to the financial statements in the Form 10-K for a discussion of the periodic reviews that Entergy performs whenever events or changes in circumstances indicate that the recoverability of long-lived assets is uncertain. Following are updates to that discussion regarding the Vermont Yankee nuclear power plant. | |||
First, as discussed in the Form 10-K, Entergy was seeking a Certificate of Public Good from the Vermont Public Service Board (VPSB) for operation of Vermont Yankee until March 2032. In June 2013 the VPSB completed hearings on that petition and established a schedule providing for proposals for decision and initial briefs to be filed in August 2013 and reply briefs to be filed in September 2013. After Entergy announced its plan to close Vermont Yankee in the fourth quarter of 2014, as discussed below, Entergy amended its Certificate of Public Good request to seek authorization to operate Vermont Yankee only through 2014. The VPSB thereafter postponed the date for reply briefs to be filed until October 2013 and invited comments on the reply briefs to be filed in November 2013. Second, as discussed in the Form 10-K, the New England Coalition in December 2012 filed a complaint in the Vermont Supreme Court seeking an order to shut down Vermont Yankee while its Certificate of Public Good application is pending, and Entergy moved to dismiss that complaint. On March 25, 2013, the Vermont Supreme Court granted Entergy's motion and dismissed the complaint. Third, as discussed in the Form 10-K, Entergy appealed a January 2013 order of the VPSB that made ripe for appeal two earlier orders in which the VPSB had found that the state's timely renewal law, 3 V.S.A. § 814(b), did not apply to certain conditions in the orders issued by the VPSB in 2002 and 2006 precluding Vermont Yankee's operation after March 21, 2012. Briefing of this appeal has been completed. After Entergy announced its plan to close Vermont Yankee in 2014, the Vermont Supreme Court placed the appeal on waiting status until after the VPSB has ruled on Vermont Yankee's pending petition for a Certificate of Public Good. Fourth, as discussed in the Form 10-K, in February 2013 the VPSB issued a notice allowing comments to be filed regarding Vermont Yankee's petition for a Certificate of Public Good to install a diesel generator to enable it to comply with the NRC's station blackout requirements. On June 6, 2013, the VPSB issued a Certificate of Public Good for the diesel generator. The generator was installed and put into service before the September 1, 2013 deadline for compliance with these NRC requirements. Fifth, on August 14, 2013, the U.S. Court of Appeals for the Second Circuit affirmed the January 2012 District Court decision that the Atomic Energy Act preempts Vermont's laws requiring the Legislature's authorization for Vermont Yankee to operate after March 21, 2012 and to store spent nuclear fuel from some operation and also affirmed the District Court's permanent injunction prohibiting enforcement of these Vermont laws. The Second Circuit reversed the District Court's decision that Vermont's efforts to condition a CPG upon the existence of a below wholesale market power sales agreement violated the Dormant Commerce Clause of the U.S. Constitution, and affirmed the District Court's decision that such efforts were not preempted by the Federal Power Act, on the ground that these claims were not yet ripe. | |||
Impairments of Vermont Yankee | |||
           See the Form 10-K for a discussion of the impairment charge recorded for the Vermont Yankee plant in the first quarter 2012. | |||
           On August 27, 2013, Entergy announced its plan to close and decommission Vermont Yankee. Vermont Yankee is expected to cease power production in the fourth quarter 2014 after its current fuel cycle. This decision was approved by the Board in August 2013. The decision to shut down the plant was primarily due to sustained low natural gas and wholesale energy prices, the high cost structure of the plant, and lack of a market structure that adequately compensates merchant nuclear plants for their environmental and fuel diversity benefits in the region in which the plant operates. | |||
           As a result of the decision to shut down the plant, Entergy recognized non-cash impairment and other related charges of $291.5 million ($183.7 million after-tax) during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. Entergy performed a fair value analysis based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimated fair value of the plant and related assets was $62 million, while the carrying value was $349 million. The carrying value of $349 million reflects the effect of a $58 million increase in Vermont Yankee's estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations. The impairment and other related charges are recorded as a separate line item in Entergy's consolidated statements of income for the three and nine months ended September 30, 2013 and is included within the results of the Entergy Wholesale Commodities segment. | |||
           The estimate of fair value was based on the price that Entergy would expect to receive in a hypothetical sale of the Vermont Yankee plant and related assets to a market participant. In order to determine this price, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis), and estimated weighted average costs of capital were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plant and related assets. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, is classified as Level 3 in the fair value hierarchy discussed in Note 8 to the financial statements. | |||
           The following table sets forth a description of significant unobservable inputs used in the valuation of the Vermont Yankee plant and related assets: | |||
Significant Unobservable Input | Amount | ||
Weighted average cost of capital | 7.50% | ||
Long-term pre-tax operating margin (cash basis) | 7.00% | ||
Entergy's Accounting Policy group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the Vermont Yankee plant and related assets, in consultation with external advisors. Entergy's Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair value of the asset group. | |||
In addition to the impairment charge and depreciation of the remaining plant balance by the end of 2014, Entergy expects to record additional charges through the end of 2014 totaling approximately $55 million to $60 million related to severance and employee retention costs relating to the shutdown of Vermont Yankee. | |||
Entergy New Orleans | ' | ||
Property, Plant And Equipment | ' | ||
NOTE 11. PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||
Construction Expenditures in Accounts Payable | |||
           Construction expenditures included in accounts payable at September 30, 2013 are $91.5 million for Entergy, $25.6 million for Entergy Arkansas, $17.7 million for Entergy Gulf States Louisiana, $12.4 million for Entergy Louisiana, $0.8 million for Entergy Mississippi, $1.4 million for Entergy New Orleans, $4.7 million for Entergy Texas, and $5.2 million for System Energy. Construction expenditures included in accounts payable at December 31, 2012 are $267 million for Entergy, $56.3 million for Entergy Arkansas, $9.7 million for Entergy Gulf States Louisiana, $110.4 million for Entergy Louisiana, $4.8 million for Entergy Mississippi, $1.9 million for Entergy New Orleans, $8.6 million for Entergy Texas, and $13.5 million for System Energy. | |||
Impairment of Long-Lived Assets | |||
          See "Impairment of Long-Lived Assets" in Note 1 to the financial statements in the Form 10-K for a discussion of the periodic reviews that Entergy performs whenever events or changes in circumstances indicate that the recoverability of long-lived assets is uncertain. Following are updates to that discussion regarding the Vermont Yankee nuclear power plant. | |||
First, as discussed in the Form 10-K, Entergy was seeking a Certificate of Public Good from the Vermont Public Service Board (VPSB) for operation of Vermont Yankee until March 2032. In June 2013 the VPSB completed hearings on that petition and established a schedule providing for proposals for decision and initial briefs to be filed in August 2013 and reply briefs to be filed in September 2013. After Entergy announced its plan to close Vermont Yankee in the fourth quarter of 2014, as discussed below, Entergy amended its Certificate of Public Good request to seek authorization to operate Vermont Yankee only through 2014. The VPSB thereafter postponed the date for reply briefs to be filed until October 2013 and invited comments on the reply briefs to be filed in November 2013. Second, as discussed in the Form 10-K, the New England Coalition in December 2012 filed a complaint in the Vermont Supreme Court seeking an order to shut down Vermont Yankee while its Certificate of Public Good application is pending, and Entergy moved to dismiss that complaint. On March 25, 2013, the Vermont Supreme Court granted Entergy's motion and dismissed the complaint. Third, as discussed in the Form 10-K, Entergy appealed a January 2013 order of the VPSB that made ripe for appeal two earlier orders in which the VPSB had found that the state's timely renewal law, 3 V.S.A. § 814(b), did not apply to certain conditions in the orders issued by the VPSB in 2002 and 2006 precluding Vermont Yankee's operation after March 21, 2012. Briefing of this appeal has been completed. After Entergy announced its plan to close Vermont Yankee in 2014, the Vermont Supreme Court placed the appeal on waiting status until after the VPSB has ruled on Vermont Yankee's pending petition for a Certificate of Public Good. Fourth, as discussed in the Form 10-K, in February 2013 the VPSB issued a notice allowing comments to be filed regarding Vermont Yankee's petition for a Certificate of Public Good to install a diesel generator to enable it to comply with the NRC's station blackout requirements. On June 6, 2013, the VPSB issued a Certificate of Public Good for the diesel generator. The generator was installed and put into service before the September 1, 2013 deadline for compliance with these NRC requirements. Fifth, on August 14, 2013, the U.S. Court of Appeals for the Second Circuit affirmed the January 2012 District Court decision that the Atomic Energy Act preempts Vermont's laws requiring the Legislature's authorization for Vermont Yankee to operate after March 21, 2012 and to store spent nuclear fuel from some operation and also affirmed the District Court's permanent injunction prohibiting enforcement of these Vermont laws. The Second Circuit reversed the District Court's decision that Vermont's efforts to condition a CPG upon the existence of a below wholesale market power sales agreement violated the Dormant Commerce Clause of the U.S. Constitution, and affirmed the District Court's decision that such efforts were not preempted by the Federal Power Act, on the ground that these claims were not yet ripe. | |||
Impairments of Vermont Yankee | |||
           See the Form 10-K for a discussion of the impairment charge recorded for the Vermont Yankee plant in the first quarter 2012. | |||
           On August 27, 2013, Entergy announced its plan to close and decommission Vermont Yankee. Vermont Yankee is expected to cease power production in the fourth quarter 2014 after its current fuel cycle. This decision was approved by the Board in August 2013. The decision to shut down the plant was primarily due to sustained low natural gas and wholesale energy prices, the high cost structure of the plant, and lack of a market structure that adequately compensates merchant nuclear plants for their environmental and fuel diversity benefits in the region in which the plant operates. | |||
           As a result of the decision to shut down the plant, Entergy recognized non-cash impairment and other related charges of $291.5 million ($183.7 million after-tax) during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. Entergy performed a fair value analysis based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimated fair value of the plant and related assets was $62 million, while the carrying value was $349 million. The carrying value of $349 million reflects the effect of a $58 million increase in Vermont Yankee's estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations. The impairment and other related charges are recorded as a separate line item in Entergy's consolidated statements of income for the three and nine months ended September 30, 2013 and is included within the results of the Entergy Wholesale Commodities segment. | |||
           The estimate of fair value was based on the price that Entergy would expect to receive in a hypothetical sale of the Vermont Yankee plant and related assets to a market participant. In order to determine this price, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis), and estimated weighted average costs of capital were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plant and related assets. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, is classified as Level 3 in the fair value hierarchy discussed in Note 8 to the financial statements. | |||
           The following table sets forth a description of significant unobservable inputs used in the valuation of the Vermont Yankee plant and related assets: | |||
Significant Unobservable Input | Amount | ||
Weighted average cost of capital | 7.50% | ||
Long-term pre-tax operating margin (cash basis) | 7.00% | ||
Entergy's Accounting Policy group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the Vermont Yankee plant and related assets, in consultation with external advisors. Entergy's Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair value of the asset group. | |||
In addition to the impairment charge and depreciation of the remaining plant balance by the end of 2014, Entergy expects to record additional charges through the end of 2014 totaling approximately $55 million to $60 million related to severance and employee retention costs relating to the shutdown of Vermont Yankee. | |||
Entergy Texas [Member] | ' | ||
Property, Plant And Equipment | ' | ||
NOTE 11. PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||
Construction Expenditures in Accounts Payable | |||
           Construction expenditures included in accounts payable at September 30, 2013 are $91.5 million for Entergy, $25.6 million for Entergy Arkansas, $17.7 million for Entergy Gulf States Louisiana, $12.4 million for Entergy Louisiana, $0.8 million for Entergy Mississippi, $1.4 million for Entergy New Orleans, $4.7 million for Entergy Texas, and $5.2 million for System Energy. Construction expenditures included in accounts payable at December 31, 2012 are $267 million for Entergy, $56.3 million for Entergy Arkansas, $9.7 million for Entergy Gulf States Louisiana, $110.4 million for Entergy Louisiana, $4.8 million for Entergy Mississippi, $1.9 million for Entergy New Orleans, $8.6 million for Entergy Texas, and $13.5 million for System Energy. | |||
Impairment of Long-Lived Assets | |||
          See "Impairment of Long-Lived Assets" in Note 1 to the financial statements in the Form 10-K for a discussion of the periodic reviews that Entergy performs whenever events or changes in circumstances indicate that the recoverability of long-lived assets is uncertain. Following are updates to that discussion regarding the Vermont Yankee nuclear power plant. | |||
First, as discussed in the Form 10-K, Entergy was seeking a Certificate of Public Good from the Vermont Public Service Board (VPSB) for operation of Vermont Yankee until March 2032. In June 2013 the VPSB completed hearings on that petition and established a schedule providing for proposals for decision and initial briefs to be filed in August 2013 and reply briefs to be filed in September 2013. After Entergy announced its plan to close Vermont Yankee in the fourth quarter of 2014, as discussed below, Entergy amended its Certificate of Public Good request to seek authorization to operate Vermont Yankee only through 2014. The VPSB thereafter postponed the date for reply briefs to be filed until October 2013 and invited comments on the reply briefs to be filed in November 2013. Second, as discussed in the Form 10-K, the New England Coalition in December 2012 filed a complaint in the Vermont Supreme Court seeking an order to shut down Vermont Yankee while its Certificate of Public Good application is pending, and Entergy moved to dismiss that complaint. On March 25, 2013, the Vermont Supreme Court granted Entergy's motion and dismissed the complaint. Third, as discussed in the Form 10-K, Entergy appealed a January 2013 order of the VPSB that made ripe for appeal two earlier orders in which the VPSB had found that the state's timely renewal law, 3 V.S.A. § 814(b), did not apply to certain conditions in the orders issued by the VPSB in 2002 and 2006 precluding Vermont Yankee's operation after March 21, 2012. Briefing of this appeal has been completed. After Entergy announced its plan to close Vermont Yankee in 2014, the Vermont Supreme Court placed the appeal on waiting status until after the VPSB has ruled on Vermont Yankee's pending petition for a Certificate of Public Good. Fourth, as discussed in the Form 10-K, in February 2013 the VPSB issued a notice allowing comments to be filed regarding Vermont Yankee's petition for a Certificate of Public Good to install a diesel generator to enable it to comply with the NRC's station blackout requirements. On June 6, 2013, the VPSB issued a Certificate of Public Good for the diesel generator. The generator was installed and put into service before the September 1, 2013 deadline for compliance with these NRC requirements. Fifth, on August 14, 2013, the U.S. Court of Appeals for the Second Circuit affirmed the January 2012 District Court decision that the Atomic Energy Act preempts Vermont's laws requiring the Legislature's authorization for Vermont Yankee to operate after March 21, 2012 and to store spent nuclear fuel from some operation and also affirmed the District Court's permanent injunction prohibiting enforcement of these Vermont laws. The Second Circuit reversed the District Court's decision that Vermont's efforts to condition a CPG upon the existence of a below wholesale market power sales agreement violated the Dormant Commerce Clause of the U.S. Constitution, and affirmed the District Court's decision that such efforts were not preempted by the Federal Power Act, on the ground that these claims were not yet ripe. | |||
Impairments of Vermont Yankee | |||
           See the Form 10-K for a discussion of the impairment charge recorded for the Vermont Yankee plant in the first quarter 2012. | |||
           On August 27, 2013, Entergy announced its plan to close and decommission Vermont Yankee. Vermont Yankee is expected to cease power production in the fourth quarter 2014 after its current fuel cycle. This decision was approved by the Board in August 2013. The decision to shut down the plant was primarily due to sustained low natural gas and wholesale energy prices, the high cost structure of the plant, and lack of a market structure that adequately compensates merchant nuclear plants for their environmental and fuel diversity benefits in the region in which the plant operates. | |||
           As a result of the decision to shut down the plant, Entergy recognized non-cash impairment and other related charges of $291.5 million ($183.7 million after-tax) during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. Entergy performed a fair value analysis based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimated fair value of the plant and related assets was $62 million, while the carrying value was $349 million. The carrying value of $349 million reflects the effect of a $58 million increase in Vermont Yankee's estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations. The impairment and other related charges are recorded as a separate line item in Entergy's consolidated statements of income for the three and nine months ended September 30, 2013 and is included within the results of the Entergy Wholesale Commodities segment. | |||
           The estimate of fair value was based on the price that Entergy would expect to receive in a hypothetical sale of the Vermont Yankee plant and related assets to a market participant. In order to determine this price, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis), and estimated weighted average costs of capital were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plant and related assets. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, is classified as Level 3 in the fair value hierarchy discussed in Note 8 to the financial statements. | |||
           The following table sets forth a description of significant unobservable inputs used in the valuation of the Vermont Yankee plant and related assets: | |||
Significant Unobservable Input | Amount | ||
Weighted average cost of capital | 7.50% | ||
Long-term pre-tax operating margin (cash basis) | 7.00% | ||
Entergy's Accounting Policy group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the Vermont Yankee plant and related assets, in consultation with external advisors. Entergy's Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair value of the asset group. | |||
In addition to the impairment charge and depreciation of the remaining plant balance by the end of 2014, Entergy expects to record additional charges through the end of 2014 totaling approximately $55 million to $60 million related to severance and employee retention costs relating to the shutdown of Vermont Yankee. | |||
System Energy [Member] | ' | ||
Property, Plant And Equipment | ' | ||
NOTE 11. PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |||
Construction Expenditures in Accounts Payable | |||
           Construction expenditures included in accounts payable at September 30, 2013 are $91.5 million for Entergy, $25.6 million for Entergy Arkansas, $17.7 million for Entergy Gulf States Louisiana, $12.4 million for Entergy Louisiana, $0.8 million for Entergy Mississippi, $1.4 million for Entergy New Orleans, $4.7 million for Entergy Texas, and $5.2 million for System Energy. Construction expenditures included in accounts payable at December 31, 2012 are $267 million for Entergy, $56.3 million for Entergy Arkansas, $9.7 million for Entergy Gulf States Louisiana, $110.4 million for Entergy Louisiana, $4.8 million for Entergy Mississippi, $1.9 million for Entergy New Orleans, $8.6 million for Entergy Texas, and $13.5 million for System Energy. | |||
Impairment of Long-Lived Assets | |||
          See "Impairment of Long-Lived Assets" in Note 1 to the financial statements in the Form 10-K for a discussion of the periodic reviews that Entergy performs whenever events or changes in circumstances indicate that the recoverability of long-lived assets is uncertain. Following are updates to that discussion regarding the Vermont Yankee nuclear power plant. | |||
First, as discussed in the Form 10-K, Entergy was seeking a Certificate of Public Good from the Vermont Public Service Board (VPSB) for operation of Vermont Yankee until March 2032. In June 2013 the VPSB completed hearings on that petition and established a schedule providing for proposals for decision and initial briefs to be filed in August 2013 and reply briefs to be filed in September 2013. After Entergy announced its plan to close Vermont Yankee in the fourth quarter of 2014, as discussed below, Entergy amended its Certificate of Public Good request to seek authorization to operate Vermont Yankee only through 2014. The VPSB thereafter postponed the date for reply briefs to be filed until October 2013 and invited comments on the reply briefs to be filed in November 2013. Second, as discussed in the Form 10-K, the New England Coalition in December 2012 filed a complaint in the Vermont Supreme Court seeking an order to shut down Vermont Yankee while its Certificate of Public Good application is pending, and Entergy moved to dismiss that complaint. On March 25, 2013, the Vermont Supreme Court granted Entergy's motion and dismissed the complaint. Third, as discussed in the Form 10-K, Entergy appealed a January 2013 order of the VPSB that made ripe for appeal two earlier orders in which the VPSB had found that the state's timely renewal law, 3 V.S.A. § 814(b), did not apply to certain conditions in the orders issued by the VPSB in 2002 and 2006 precluding Vermont Yankee's operation after March 21, 2012. Briefing of this appeal has been completed. After Entergy announced its plan to close Vermont Yankee in 2014, the Vermont Supreme Court placed the appeal on waiting status until after the VPSB has ruled on Vermont Yankee's pending petition for a Certificate of Public Good. Fourth, as discussed in the Form 10-K, in February 2013 the VPSB issued a notice allowing comments to be filed regarding Vermont Yankee's petition for a Certificate of Public Good to install a diesel generator to enable it to comply with the NRC's station blackout requirements. On June 6, 2013, the VPSB issued a Certificate of Public Good for the diesel generator. The generator was installed and put into service before the September 1, 2013 deadline for compliance with these NRC requirements. Fifth, on August 14, 2013, the U.S. Court of Appeals for the Second Circuit affirmed the January 2012 District Court decision that the Atomic Energy Act preempts Vermont's laws requiring the Legislature's authorization for Vermont Yankee to operate after March 21, 2012 and to store spent nuclear fuel from some operation and also affirmed the District Court's permanent injunction prohibiting enforcement of these Vermont laws. The Second Circuit reversed the District Court's decision that Vermont's efforts to condition a CPG upon the existence of a below wholesale market power sales agreement violated the Dormant Commerce Clause of the U.S. Constitution, and affirmed the District Court's decision that such efforts were not preempted by the Federal Power Act, on the ground that these claims were not yet ripe. | |||
Impairments of Vermont Yankee | |||
           See the Form 10-K for a discussion of the impairment charge recorded for the Vermont Yankee plant in the first quarter 2012. | |||
           On August 27, 2013, Entergy announced its plan to close and decommission Vermont Yankee. Vermont Yankee is expected to cease power production in the fourth quarter 2014 after its current fuel cycle. This decision was approved by the Board in August 2013. The decision to shut down the plant was primarily due to sustained low natural gas and wholesale energy prices, the high cost structure of the plant, and lack of a market structure that adequately compensates merchant nuclear plants for their environmental and fuel diversity benefits in the region in which the plant operates. | |||
           As a result of the decision to shut down the plant, Entergy recognized non-cash impairment and other related charges of $291.5 million ($183.7 million after-tax) during the third quarter 2013 to write down the carrying value of Vermont Yankee and related assets to their fair values. Entergy performed a fair value analysis based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimated fair value of the plant and related assets was $62 million, while the carrying value was $349 million. The carrying value of $349 million reflects the effect of a $58 million increase in Vermont Yankee's estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations. The impairment and other related charges are recorded as a separate line item in Entergy's consolidated statements of income for the three and nine months ended September 30, 2013 and is included within the results of the Entergy Wholesale Commodities segment. | |||
           The estimate of fair value was based on the price that Entergy would expect to receive in a hypothetical sale of the Vermont Yankee plant and related assets to a market participant. In order to determine this price, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis), and estimated weighted average costs of capital were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plant and related assets. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, is classified as Level 3 in the fair value hierarchy discussed in Note 8 to the financial statements. | |||
           The following table sets forth a description of significant unobservable inputs used in the valuation of the Vermont Yankee plant and related assets: | |||
Significant Unobservable Input | Amount | ||
Weighted average cost of capital | 7.50% | ||
Long-term pre-tax operating margin (cash basis) | 7.00% | ||
Entergy's Accounting Policy group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the Vermont Yankee plant and related assets, in consultation with external advisors. Entergy's Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair value of the asset group. | |||
In addition to the impairment charge and depreciation of the remaining plant balance by the end of 2014, Entergy expects to record additional charges through the end of 2014 totaling approximately $55 million to $60 million related to severance and employee retention costs relating to the shutdown of Vermont Yankee. | |||
Variable_Interest_Entities
Variable Interest Entities | 9 Months Ended |
Sep. 30, 2013 | |
Variable Interest Entities | ' |
NOTE 12. VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies' credit facility and commercial paper borrowings and long-term debt. | |
           Entergy Louisiana and System Energy are each considered to hold a variable interest in the lessors from which they lease, respectively, undivided interests representing approximately 9.3% of the Waterford 3 and 11.5% of the Grand Gulf nuclear plants. Entergy Louisiana and System Energy are the lessees under these arrangements, which are described in more detail in Note 10 to the financial statements in the Form 10-K. Entergy Louisiana made payments on its lease, including interest, of $7.8 million and $12.3 million in the three months ended September 30, 2013 and 2012, respectively. Entergy Louisiana made payments on its lease, including interest, of $26.3 million and $39.1 million in the nine months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $3.7 million and $1.8 million in the three months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $50.5 million and $50.0 million in the nine months ended September 30, 2013 and 2012, respectively. | |
Entergy Arkansas [Member] | ' |
Variable Interest Entities | ' |
NOTE 12. VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies' credit facility and commercial paper borrowings and long-term debt. | |
           Entergy Louisiana and System Energy are each considered to hold a variable interest in the lessors from which they lease, respectively, undivided interests representing approximately 9.3% of the Waterford 3 and 11.5% of the Grand Gulf nuclear plants. Entergy Louisiana and System Energy are the lessees under these arrangements, which are described in more detail in Note 10 to the financial statements in the Form 10-K. Entergy Louisiana made payments on its lease, including interest, of $7.8 million and $12.3 million in the three months ended September 30, 2013 and 2012, respectively. Entergy Louisiana made payments on its lease, including interest, of $26.3 million and $39.1 million in the nine months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $3.7 million and $1.8 million in the three months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $50.5 million and $50.0 million in the nine months ended September 30, 2013 and 2012, respectively. | |
Entergy Gulf States Louisiana [Member] | ' |
Variable Interest Entities | ' |
NOTE 12. VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies' credit facility and commercial paper borrowings and long-term debt. | |
           Entergy Louisiana and System Energy are each considered to hold a variable interest in the lessors from which they lease, respectively, undivided interests representing approximately 9.3% of the Waterford 3 and 11.5% of the Grand Gulf nuclear plants. Entergy Louisiana and System Energy are the lessees under these arrangements, which are described in more detail in Note 10 to the financial statements in the Form 10-K. Entergy Louisiana made payments on its lease, including interest, of $7.8 million and $12.3 million in the three months ended September 30, 2013 and 2012, respectively. Entergy Louisiana made payments on its lease, including interest, of $26.3 million and $39.1 million in the nine months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $3.7 million and $1.8 million in the three months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $50.5 million and $50.0 million in the nine months ended September 30, 2013 and 2012, respectively. | |
Entergy Louisiana [Member] | ' |
Variable Interest Entities | ' |
NOTE 12. VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies' credit facility and commercial paper borrowings and long-term debt. | |
           Entergy Louisiana and System Energy are each considered to hold a variable interest in the lessors from which they lease, respectively, undivided interests representing approximately 9.3% of the Waterford 3 and 11.5% of the Grand Gulf nuclear plants. Entergy Louisiana and System Energy are the lessees under these arrangements, which are described in more detail in Note 10 to the financial statements in the Form 10-K. Entergy Louisiana made payments on its lease, including interest, of $7.8 million and $12.3 million in the three months ended September 30, 2013 and 2012, respectively. Entergy Louisiana made payments on its lease, including interest, of $26.3 million and $39.1 million in the nine months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $3.7 million and $1.8 million in the three months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $50.5 million and $50.0 million in the nine months ended September 30, 2013 and 2012, respectively. | |
Entergy Mississippi [Member] | ' |
Variable Interest Entities | ' |
NOTE 12. VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies' credit facility and commercial paper borrowings and long-term debt. | |
           Entergy Louisiana and System Energy are each considered to hold a variable interest in the lessors from which they lease, respectively, undivided interests representing approximately 9.3% of the Waterford 3 and 11.5% of the Grand Gulf nuclear plants. Entergy Louisiana and System Energy are the lessees under these arrangements, which are described in more detail in Note 10 to the financial statements in the Form 10-K. Entergy Louisiana made payments on its lease, including interest, of $7.8 million and $12.3 million in the three months ended September 30, 2013 and 2012, respectively. Entergy Louisiana made payments on its lease, including interest, of $26.3 million and $39.1 million in the nine months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $3.7 million and $1.8 million in the three months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $50.5 million and $50.0 million in the nine months ended September 30, 2013 and 2012, respectively. | |
Entergy New Orleans | ' |
Variable Interest Entities | ' |
NOTE 12. VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies' credit facility and commercial paper borrowings and long-term debt. | |
           Entergy Louisiana and System Energy are each considered to hold a variable interest in the lessors from which they lease, respectively, undivided interests representing approximately 9.3% of the Waterford 3 and 11.5% of the Grand Gulf nuclear plants. Entergy Louisiana and System Energy are the lessees under these arrangements, which are described in more detail in Note 10 to the financial statements in the Form 10-K. Entergy Louisiana made payments on its lease, including interest, of $7.8 million and $12.3 million in the three months ended September 30, 2013 and 2012, respectively. Entergy Louisiana made payments on its lease, including interest, of $26.3 million and $39.1 million in the nine months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $3.7 million and $1.8 million in the three months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $50.5 million and $50.0 million in the nine months ended September 30, 2013 and 2012, respectively. | |
Entergy Texas [Member] | ' |
Variable Interest Entities | ' |
NOTE 12. VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies' credit facility and commercial paper borrowings and long-term debt. | |
           Entergy Louisiana and System Energy are each considered to hold a variable interest in the lessors from which they lease, respectively, undivided interests representing approximately 9.3% of the Waterford 3 and 11.5% of the Grand Gulf nuclear plants. Entergy Louisiana and System Energy are the lessees under these arrangements, which are described in more detail in Note 10 to the financial statements in the Form 10-K. Entergy Louisiana made payments on its lease, including interest, of $7.8 million and $12.3 million in the three months ended September 30, 2013 and 2012, respectively. Entergy Louisiana made payments on its lease, including interest, of $26.3 million and $39.1 million in the nine months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $3.7 million and $1.8 million in the three months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $50.5 million and $50.0 million in the nine months ended September 30, 2013 and 2012, respectively. | |
System Energy [Member] | ' |
Variable Interest Entities | ' |
NOTE 12. VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
           See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies' credit facility and commercial paper borrowings and long-term debt. | |
           Entergy Louisiana and System Energy are each considered to hold a variable interest in the lessors from which they lease, respectively, undivided interests representing approximately 9.3% of the Waterford 3 and 11.5% of the Grand Gulf nuclear plants. Entergy Louisiana and System Energy are the lessees under these arrangements, which are described in more detail in Note 10 to the financial statements in the Form 10-K. Entergy Louisiana made payments on its lease, including interest, of $7.8 million and $12.3 million in the three months ended September 30, 2013 and 2012, respectively. Entergy Louisiana made payments on its lease, including interest, of $26.3 million and $39.1 million in the nine months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $3.7 million and $1.8 million in the three months ended September 30, 2013 and 2012, respectively. System Energy made payments on its lease, including interest, of $50.5 million and $50.0 million in the nine months ended September 30, 2013 and 2012, respectively. | |
Asset_Retirement_Obligations
Asset Retirement Obligations | 9 Months Ended |
Sep. 30, 2013 | |
Asset Retirement Obligations | ' |
NOTE 13. ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following is an update to that discussion. | |
           In the first quarter of 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for a nuclear site as a result of a revised decommissioning cost study. The revised estimate resulted in a $46.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. | |
           In the third quarter 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee as a result of a revised decommissioning cost study. The revised estimate resulted in a $58 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant. See Note 11 to the financial statements herein for further discussion of the Vermont Yankee plant. | |
Assuming the end of Vermont Yankee operations in the fourth quarter 2014, the amount required to meet the NRC minimum for decommissioning financial assurance for license termination is $566 million. The Vermont Yankee decommissioning trust had a balance of approximately $584 million as of September 30, 2013, excluding the $40 million guarantee by Entergy Corporation to satisfy NRC requirements following the 2009 review of financial assurance levels. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligations. | |
Entergy Arkansas [Member] | ' |
Asset Retirement Obligations | ' |
NOTE 13. ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following is an update to that discussion. | |
           In the first quarter of 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for a nuclear site as a result of a revised decommissioning cost study. The revised estimate resulted in a $46.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. | |
           In the third quarter 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee as a result of a revised decommissioning cost study. The revised estimate resulted in a $58 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant. See Note 11 to the financial statements herein for further discussion of the Vermont Yankee plant. | |
Assuming the end of Vermont Yankee operations in the fourth quarter 2014, the amount required to meet the NRC minimum for decommissioning financial assurance for license termination is $566 million. The Vermont Yankee decommissioning trust had a balance of approximately $584 million as of September 30, 2013, excluding the $40 million guarantee by Entergy Corporation to satisfy NRC requirements following the 2009 review of financial assurance levels. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligations. | |
Entergy Gulf States Louisiana [Member] | ' |
Asset Retirement Obligations | ' |
NOTE 13. ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following is an update to that discussion. | |
           In the first quarter of 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for a nuclear site as a result of a revised decommissioning cost study. The revised estimate resulted in a $46.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. | |
           In the third quarter 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee as a result of a revised decommissioning cost study. The revised estimate resulted in a $58 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant. See Note 11 to the financial statements herein for further discussion of the Vermont Yankee plant. | |
Assuming the end of Vermont Yankee operations in the fourth quarter 2014, the amount required to meet the NRC minimum for decommissioning financial assurance for license termination is $566 million. The Vermont Yankee decommissioning trust had a balance of approximately $584 million as of September 30, 2013, excluding the $40 million guarantee by Entergy Corporation to satisfy NRC requirements following the 2009 review of financial assurance levels. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligations. | |
Entergy Louisiana [Member] | ' |
Asset Retirement Obligations | ' |
NOTE 13. ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following is an update to that discussion. | |
           In the first quarter of 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for a nuclear site as a result of a revised decommissioning cost study. The revised estimate resulted in a $46.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. | |
           In the third quarter 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee as a result of a revised decommissioning cost study. The revised estimate resulted in a $58 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant. See Note 11 to the financial statements herein for further discussion of the Vermont Yankee plant. | |
Assuming the end of Vermont Yankee operations in the fourth quarter 2014, the amount required to meet the NRC minimum for decommissioning financial assurance for license termination is $566 million. The Vermont Yankee decommissioning trust had a balance of approximately $584 million as of September 30, 2013, excluding the $40 million guarantee by Entergy Corporation to satisfy NRC requirements following the 2009 review of financial assurance levels. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligations. | |
System Energy [Member] | ' |
Asset Retirement Obligations | ' |
NOTE 13. ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following is an update to that discussion. | |
           In the first quarter of 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for a nuclear site as a result of a revised decommissioning cost study. The revised estimate resulted in a $46.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. | |
           In the third quarter 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee as a result of a revised decommissioning cost study. The revised estimate resulted in a $58 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant. See Note 11 to the financial statements herein for further discussion of the Vermont Yankee plant. | |
Assuming the end of Vermont Yankee operations in the fourth quarter 2014, the amount required to meet the NRC minimum for decommissioning financial assurance for license termination is $566 million. The Vermont Yankee decommissioning trust had a balance of approximately $584 million as of September 30, 2013, excluding the $40 million guarantee by Entergy Corporation to satisfy NRC requirements following the 2009 review of financial assurance levels. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligations. | |
Entergy Mississippi [Member] | ' |
Asset Retirement Obligations | ' |
NOTE 13. ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following is an update to that discussion. | |
           In the first quarter of 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for a nuclear site as a result of a revised decommissioning cost study. The revised estimate resulted in a $46.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. | |
           In the third quarter 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee as a result of a revised decommissioning cost study. The revised estimate resulted in a $58 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant. See Note 11 to the financial statements herein for further discussion of the Vermont Yankee plant. | |
Assuming the end of Vermont Yankee operations in the fourth quarter 2014, the amount required to meet the NRC minimum for decommissioning financial assurance for license termination is $566 million. The Vermont Yankee decommissioning trust had a balance of approximately $584 million as of September 30, 2013, excluding the $40 million guarantee by Entergy Corporation to satisfy NRC requirements following the 2009 review of financial assurance levels. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligations. | |
Entergy New Orleans | ' |
Asset Retirement Obligations | ' |
NOTE 13. ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following is an update to that discussion. | |
           In the first quarter of 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for a nuclear site as a result of a revised decommissioning cost study. The revised estimate resulted in a $46.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. | |
           In the third quarter 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee as a result of a revised decommissioning cost study. The revised estimate resulted in a $58 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant. See Note 11 to the financial statements herein for further discussion of the Vermont Yankee plant. | |
Assuming the end of Vermont Yankee operations in the fourth quarter 2014, the amount required to meet the NRC minimum for decommissioning financial assurance for license termination is $566 million. The Vermont Yankee decommissioning trust had a balance of approximately $584 million as of September 30, 2013, excluding the $40 million guarantee by Entergy Corporation to satisfy NRC requirements following the 2009 review of financial assurance levels. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligations. | |
Entergy Texas [Member] | ' |
Asset Retirement Obligations | ' |
NOTE 13. ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) | |
See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following is an update to that discussion. | |
           In the first quarter of 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for a nuclear site as a result of a revised decommissioning cost study. The revised estimate resulted in a $46.6 million reduction in the decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset. | |
           In the third quarter 2013, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Vermont Yankee as a result of a revised decommissioning cost study. The revised estimate resulted in a $58 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant. See Note 11 to the financial statements herein for further discussion of the Vermont Yankee plant. | |
Assuming the end of Vermont Yankee operations in the fourth quarter 2014, the amount required to meet the NRC minimum for decommissioning financial assurance for license termination is $566 million. The Vermont Yankee decommissioning trust had a balance of approximately $584 million as of September 30, 2013, excluding the $40 million guarantee by Entergy Corporation to satisfy NRC requirements following the 2009 review of financial assurance levels. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligations. | |
Rate_And_Regulatory_Matters_Ta
Rate And Regulatory Matters (Tables) | 9 Months Ended | |
Sep. 30, 2013 | ||
Entergy Arkansas [Member] | ' | |
Payments or receipts among utility operating companies production costs for two thousand thirteen | ' | |
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Entergy Louisiana [Member] | ' | |
Payments or receipts among utility operating companies production costs for two thousand thirteen | ' | |
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Entergy Mississippi [Member] | ' | |
Payments or receipts among utility operating companies production costs for two thousand thirteen | ' | |
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Entergy New Orleans | ' | |
Payments or receipts among utility operating companies production costs for two thousand thirteen | ' | |
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Entergy Texas [Member] | ' | |
Payments or receipts among utility operating companies production costs for two thousand thirteen | ' | |
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â | |
Entergy Gulf States Louisiana [Member] | ' | |
Payments or receipts among utility operating companies production costs for two thousand thirteen | ' | |
           In May 2013, Entergy filed with the FERC the 2013 rates in accordance with the FERC's orders in the System Agreement proceeding. The filing shows the following payments/receipts among the Utility operating companies for 2013, based on calendar year 2012 production costs, commencing for service in June 2013, are necessary to achieve rough production cost equalization under the FERC's orders: | ||
Payments or | ||
(Receipts) | ||
(In Millions) | ||
Entergy Arkansas | $-Â Â | |
Entergy Gulf States Louisiana | $-Â Â | |
Entergy Louisiana | $-Â Â | |
Entergy Mississippi | $-Â Â | |
Entergy New Orleans | ($15) | |
Entergy Texas | $15Â Â |
Equity_Tables
Equity (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Schedule Of Earnings Per Share Basic And Diluted [Table Text Block] | ' | ||||||||||||
           The following tables present Entergy's basic and diluted earnings per share calculations included on the consolidated income statements: | |||||||||||||
For the Three Months Ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
(In Millions, Except Per Share Data) | |||||||||||||
Basic earnings per share | Income | Shares | $/share | Income | Shares | $/share | |||||||
Net income attributable to | |||||||||||||
Entergy Corporation | $239.90 | 178.3 | $1.35 | $337.10 | 177.5 | $1.90 | |||||||
Average dilutive effect of: | |||||||||||||
    Stock options | 0.1 | - | 0.4 | (0.01) | |||||||||
    Other equity plans | 0.3 | (0.01) | 0.1 |  - | |||||||||
Diluted earnings per share | $239.90 | 178.7 | $1.34Â | $337.10 | 178 | $1.89 | |||||||
For the Nine Months Ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
(In Millions, Except Per Share Data) | |||||||||||||
Basic earnings per share | Income | Shares | $/share | Income | Shares | $/share | |||||||
Net income attributable to | |||||||||||||
Entergy Corporation | $565.00 | 178.2 | $3.17Â | $550.40 | 177.2 | $3.11 | |||||||
Average dilutive effect of: | |||||||||||||
    Stock options | 0.1 | - | 0.3 | -0.01 | |||||||||
    Other equity plans | 0.2 | -0.01 | 0.1 |  - | |||||||||
Diluted earnings per share | $565.00 | 178.5 | $3.16Â | $550.40 | 177.6 | $3.10 | |||||||
Parent Company [Member] | ' | ||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||
           Accumulated other comprehensive loss is included in the equity section of the balance sheets of Entergy, Entergy Gulf States Louisiana, and Entergy Louisiana. The following table presents changes in accumulated other comprehensive loss for Entergy for the three months ended September 30, 2013 by component: | |||||||||||||
Cash flow | Pension | Total | |||||||||||
hedges | and | Net | Accumulated | ||||||||||
net | other | unrealized | Foreign | Other | |||||||||
unrealized | postretirement | investment | currency | Comprehensive | |||||||||
gain (loss) | liabilities | gains | translation | Loss | |||||||||
(In Thousands) | |||||||||||||
Beginning balance, June 30, 2013 | $31,520Â | ($571,138) | $262,891Â | $2,424Â | ($274,303) | ||||||||
  Other comprehensive income (loss) | |||||||||||||
     before reclassifications | (9,838) | - | 45,647 | 706 | 36,515 | ||||||||
  Amounts reclassified from | |||||||||||||
     accumulated other comprehensive | |||||||||||||
     loss | -21,825 | 15,430 | 653 | - | (5,742) | ||||||||
Net other comprehensive income (loss) for the period | |||||||||||||
(31,663)Â | 15,430Â | 46,300 | 706Â | 30,773Â | |||||||||
Ending balance, September 30, 2013 | ($143)Â | ($555,708) | $309,191Â Â | $3,130Â | ($243,530) | ||||||||
           The following table presents changes in accumulated other comprehensive loss for Entergy for the nine months ended September 30, 2013 by component: | |||||||||||||
Cash flow | Pension | Total | |||||||||||
hedges | and | Net | Accumulated | ||||||||||
net | other | unrealized | Foreign | Other | |||||||||
unrealized | postretirement | investment | currency | Comprehensive | |||||||||
gain (loss) | liabilities | gains | translation | Loss | |||||||||
(In Thousands) | |||||||||||||
Beginning balance, December 31, 2012 | $79,905Â | ($590,712) | $214,547Â | $3,177Â | ($293,083) | ||||||||
  Other comprehensive income (loss) | |||||||||||||
     before reclassifications | -57,376 | - | 95,843 | -47 | 38,420 | ||||||||
  Amounts reclassified from | |||||||||||||
     accumulated other comprehensive | |||||||||||||
     loss | -22,672 | 35,004 | -1,199 | - | 11,133 | ||||||||
Net other comprehensive income (loss) for the period | |||||||||||||
-80,048 | 35,004Â | 94,644Â | -47 | 49,553Â | |||||||||
Ending balance, September 30, 2013 | ($143)Â | ($555,708) | $309,191Â Â | $3,130Â | ($243,530) | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ||||||||||||
Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy for the three months ended September 30, 2013 are as follows: | |||||||||||||
Amounts | |||||||||||||
reclassified | |||||||||||||
from | Income Statement Location | ||||||||||||
AOCI | |||||||||||||
(In Thousands) | |||||||||||||
Cash flow hedges net unrealized gain | |||||||||||||
  Power contracts | $35,325 | Competitive business operating revenues | |||||||||||
  Interest rate swaps | -389 | Miscellaneous - net | |||||||||||
Total realized gains on cash flow hedges | 34,936Â | ||||||||||||
-13,111 | Income taxes | ||||||||||||
Total realized gains on cash flow hedges (net of tax) | $21,825Â | ||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $2,414 | (a) | |||||||||||
     Amortization of loss | -17,179 | (a) | |||||||||||
     Curtailment loss | -1,304 | (a) | |||||||||||
     Settlement loss | -9,662 | (a) | |||||||||||
Total amortization | -25,731 | ||||||||||||
10,301Â | Income taxes | ||||||||||||
Total amortization (net of tax) | ($15,430) | ||||||||||||
Net unrealized investment loss | |||||||||||||
Realized loss | ($1,280) | Interest and investment income | |||||||||||
627Â | Income taxes | ||||||||||||
Total realized investment loss (net of tax) | ($653) | ||||||||||||
Total reclassifications for the period (net of tax) | $5,742Â | ||||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
           | |||||||||||||
Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy for the nine months ended September 30, 2013 are as follows: | |||||||||||||
Amounts | |||||||||||||
reclassified | |||||||||||||
from | Income Statement Location | ||||||||||||
AOCI | |||||||||||||
(In Thousands) | |||||||||||||
Cash flow hedges net unrealized gain | |||||||||||||
  Power contracts | $37,518 | Competitive business operating revenues | |||||||||||
  Interest rate swaps | -1,193 | Miscellaneous - net | |||||||||||
Total realized gains on cash flow hedges | 36,325 | ||||||||||||
-13,653 | Income taxes | ||||||||||||
Total realized gains on cash flow hedges (net of tax) | $22,672Â | ||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | 7,175 | (a) | |||||||||||
     Amortization of loss | -53,268 | (a) | |||||||||||
     Curtailment loss | -1,304 | (a) | |||||||||||
     Settlement loss | -9,662 | (a) | |||||||||||
Total amortization | -57,059 | ||||||||||||
22,055Â | Income taxes | ||||||||||||
Total amortization (net of tax) | ($35,004) | ||||||||||||
Net unrealized investment gains | |||||||||||||
Realized gains | $2,351Â | Interest and investment income | |||||||||||
-1,152 | Income taxes | ||||||||||||
Total realized investment gains (net of tax) | $1,199Â | ||||||||||||
Total reclassifications for the period (net of tax) | ($11,133) | ||||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
Entergy Gulf States Louisiana [Member] | ' | ||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||
The following table presents changes in accumulated other comprehensive loss for Entergy Gulf States Louisiana and Entergy Louisiana for the three months ended September 30, 2013: | |||||||||||||
Pension and Other | |||||||||||||
Postretirement Liabilities | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | ||||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Beginning balance June 30, 2013 | ($63,312) | ($44,771) | |||||||||||
Amounts reclassified from accumulated other | |||||||||||||
    comprehensive income | 963 | 684 | |||||||||||
Net other comprehensive income for the period | 963Â | 684Â | |||||||||||
Ending balance, September 30, 2013 | ($62,349) | ($44,087) | |||||||||||
           The following table presents changes in accumulated other comprehensive loss for Entergy Gulf States Louisiana and Entergy Louisiana for the nine months ended September 30, 2013: | |||||||||||||
Pension and Other | |||||||||||||
Postretirement Liabilities | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | ||||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Beginning balance, December 31, 2012 | ($65,229) | ($46,132) | |||||||||||
Amounts reclassified from accumulated other | |||||||||||||
    comprehensive income | 2,880 | 2,045 | |||||||||||
Net other comprehensive income for the period | 2,880Â | 2,045Â | |||||||||||
Ending balance, September 30, 2013 | ($62,349) | ($44,087) | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ||||||||||||
Amounts reclassified | |||||||||||||
from AOCI | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | Income Statement Location | |||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $206 | $62 | (a) | ||||||||||
     Amortization of loss | -1,947 | -1,288 | (a) | ||||||||||
Total amortization | -1,741 | -1,226 | |||||||||||
778Â | 542Â | Income taxes | |||||||||||
Total amortization (net of tax) | -963 | -684 | |||||||||||
Total reclassifications for the period (net of tax) | ($963) | ($684) | |||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
           Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy Gulf States Louisiana and Entergy Louisiana for the nine months ended September 30, 2013 are as follows: | |||||||||||||
Amounts reclassified | |||||||||||||
from AOCI | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | Income Statement Location | |||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $617 | $186 | (a) | ||||||||||
     Amortization of loss | -5,839 | -3,862 | (a) | ||||||||||
Total amortization | -5,222 | -3,676 | |||||||||||
2,342Â | 1,631Â | Income taxes | |||||||||||
Total amortization (net of tax) | -2,880 | -2,045 | |||||||||||
Total reclassifications for the period (net of tax) | ($2,880) | ($2,045) | |||||||||||
Entergy Louisiana [Member] | ' | ||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||
The following table presents changes in accumulated other comprehensive loss for Entergy Gulf States Louisiana and Entergy Louisiana for the three months ended September 30, 2013: | |||||||||||||
Pension and Other | |||||||||||||
Postretirement Liabilities | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | ||||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Beginning balance June 30, 2013 | ($63,312) | ($44,771) | |||||||||||
Amounts reclassified from accumulated other | |||||||||||||
    comprehensive income | 963 | 684 | |||||||||||
Net other comprehensive income for the period | 963Â | 684Â | |||||||||||
Ending balance, September 30, 2013 | ($62,349) | ($44,087) | |||||||||||
           The following table presents changes in accumulated other comprehensive loss for Entergy Gulf States Louisiana and Entergy Louisiana for the nine months ended September 30, 2013: | |||||||||||||
Pension and Other | |||||||||||||
Postretirement Liabilities | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | ||||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Beginning balance, December 31, 2012 | ($65,229) | ($46,132) | |||||||||||
Amounts reclassified from accumulated other | |||||||||||||
    comprehensive income | 2,880 | 2,045 | |||||||||||
Net other comprehensive income for the period | 2,880Â | 2,045Â | |||||||||||
Ending balance, September 30, 2013 | ($62,349) | ($44,087) | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ||||||||||||
Amounts reclassified | |||||||||||||
from AOCI | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | Income Statement Location | |||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $206 | $62 | (a) | ||||||||||
     Amortization of loss | -1,947 | -1,288 | (a) | ||||||||||
Total amortization | -1,741 | -1,226 | |||||||||||
778Â | 542Â | Income taxes | |||||||||||
Total amortization (net of tax) | -963 | -684 | |||||||||||
Total reclassifications for the period (net of tax) | ($963) | ($684) | |||||||||||
(a) | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 6 to the financial statements for additional details. | ||||||||||||
           Total reclassifications out of accumulated other comprehensive loss (AOCI) for Entergy Gulf States Louisiana and Entergy Louisiana for the nine months ended September 30, 2013 are as follows: | |||||||||||||
Amounts reclassified | |||||||||||||
from AOCI | |||||||||||||
Entergy | Entergy | ||||||||||||
Gulf States | Louisiana | Income Statement Location | |||||||||||
Louisiana | |||||||||||||
(In Thousands) | |||||||||||||
Pension and other postretirement liabilities | |||||||||||||
     Amortization of prior-service costs | $617 | $186 | (a) | ||||||||||
     Amortization of loss | -5,839 | -3,862 | (a) | ||||||||||
Total amortization | -5,222 | -3,676 | |||||||||||
2,342Â | 1,631Â | Income taxes | |||||||||||
Total amortization (net of tax) | -2,880 | -2,045 | |||||||||||
Total reclassifications for the period (net of tax) | ($2,880) | ($2,045) |
Revolving_Credit_Facilities_Li1
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Summary Of The Borrowings Outstanding And Capacity Available Under The Facility | ' | ||||||||
Capacity (a) | Borrowings | Letters | Capacity | ||||||
of Credit | Available | ||||||||
(In Millions) | |||||||||
$3,500Â | $150 | $8 | $3,342 | ||||||
Credit Facilities | ' | ||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
Short-Term Borrowings And The Outstanding Short-Term Borrowings | ' | ||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
Notes Payable By Variable Interest Entities | ' | ||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
Book Value And The Fair Value Of Long-Term Debt | ' | ||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Parent Company [Member] | ' | ||||||||
Book Value And The Fair Value Of Long-Term Debt | ' | ||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy Arkansas [Member] | ' | ||||||||
Credit Facilities | ' | ||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
Short-Term Borrowings And The Outstanding Short-Term Borrowings | ' | ||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | ' | ||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
Notes Payable By Variable Interest Entities | ' | ||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
Book Value And The Fair Value Of Long-Term Debt | ' | ||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy Gulf States Louisiana [Member] | ' | ||||||||
Credit Facilities | ' | ||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
Short-Term Borrowings And The Outstanding Short-Term Borrowings | ' | ||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | ' | ||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
Notes Payable By Variable Interest Entities | ' | ||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
Book Value And The Fair Value Of Long-Term Debt | ' | ||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy Louisiana [Member] | ' | ||||||||
Credit Facilities | ' | ||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
Short-Term Borrowings And The Outstanding Short-Term Borrowings | ' | ||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | ' | ||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
Notes Payable By Variable Interest Entities | ' | ||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
Book Value And The Fair Value Of Long-Term Debt | ' | ||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy Mississippi [Member] | ' | ||||||||
Credit Facilities | ' | ||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
Short-Term Borrowings And The Outstanding Short-Term Borrowings | ' | ||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
Book Value And The Fair Value Of Long-Term Debt | ' | ||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy New Orleans | ' | ||||||||
Credit Facilities | ' | ||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
Short-Term Borrowings And The Outstanding Short-Term Borrowings | ' | ||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
Book Value And The Fair Value Of Long-Term Debt | ' | ||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
Entergy Texas [Member] | ' | ||||||||
Credit Facilities | ' | ||||||||
Amount Drawn | |||||||||
Amount of | Â Interest Rate (a) | as of | |||||||
Facility | September 30, | ||||||||
Company | Expiration Date | 2013 | |||||||
Entergy Arkansas | Apr-14 | $20 million (b) | 1.75% | Â $-Â | |||||
Entergy Arkansas | Mar-18 | $150 million (c) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Gulf States Louisiana | Mar-18 | $150 million (d) | 1.68% | Â $-Â | |||||
Entergy Louisiana | Mar-18 | $200 million (e) | 1.68% | Â Â Â Â Â Â Â Â Â Â Â Â Â $- | |||||
Entergy Mississippi | May-14 | $37.5 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $35 million (f) | 1.93% | Â Â $-Â | |||||
Entergy Mississippi | May-14 | $20 million (f) | 1.93% | $- | |||||
Entergy New Orleans | Nov-13 | $25 million (g) | 1.65% | $- | |||||
Entergy Texas | Mar-18 | $150 million (h) | 1.93% | $- | |||||
(a) | The interest rate is the rate as of September 30, 2013 that would most likely apply to outstanding borrowings under the facility. | ||||||||
(b) | The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. | ||||||||
(c) | The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Arkansas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(d) | The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(e) | The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
(f) | The credit facilities require Entergy Mississippi to maintain a debt ratio of 65% or less of its total capitalization. Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. | ||||||||
(g) | The credit facility requires Entergy New Orleans to maintain a debt ratio of 65% or less of its total capitalization. In October 2013, Entergy New Orleans renewed its credit facility through November 2014. | ||||||||
(h) | The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. As of September 30, 2013, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. | ||||||||
Short-Term Borrowings And The Outstanding Short-Term Borrowings | ' | ||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
Book Value And The Fair Value Of Long-Term Debt | ' | ||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
System Energy [Member] | ' | ||||||||
Short-Term Borrowings And The Outstanding Short-Term Borrowings | ' | ||||||||
Authorized | Borrowings | ||||||||
(In Millions) | |||||||||
Entergy Arkansas | $250 | $- | |||||||
Entergy Gulf States Louisiana | $200 | $58 | |||||||
Entergy Louisiana | $250 | $- | |||||||
Entergy Mississippi | $175 | $19 | |||||||
Entergy New Orleans | $100 | $- | |||||||
Entergy Texas | $200 | $- | |||||||
System Energy | $200 | $- | |||||||
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | ' | ||||||||
  See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). The nuclear fuel company variable interest entities have credit facilities and also issue commercial paper to finance the acquisition and ownership of nuclear fuel as follows as of September 30, 2013: | |||||||||
Weighted | |||||||||
Average | Amount | ||||||||
Interest | Outstanding | ||||||||
Amount | Rate on | as of | |||||||
Expiration | of | Borrowings | September 30, 2013 | ||||||
Company | Date | Facility | (a) | ||||||
(Dollars in Millions) | |||||||||
Entergy Arkansas VIE | Jun-16 | $85 | 1.63% | $20.10 | |||||
Entergy Gulf States Louisiana VIE | Jun-16 | $100 | 1.50% | $31.00 | |||||
Entergy Louisiana VIE | Jun-16 | $90 | 1.58% | $24.30 | |||||
System Energy VIE | Jun-16 | $125 | 1.57% | $46.50 | |||||
(a) | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy.  The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. | ||||||||
          | |||||||||
Notes Payable By Variable Interest Entities | ' | ||||||||
The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2013 as follows: | |||||||||
Company | Description | Amount | |||||||
Entergy Arkansas VIE | 5.69% Series I due July 2014 | $70 million | |||||||
Entergy Arkansas VIE | 3.23% Series J due July 2016 | $55 million | |||||||
Entergy Arkansas VIE | 2.62% Series K due December 2017 | $60 million | |||||||
Entergy Gulf States Louisiana VIE | 3.25% Series Q due July 2017 | $75 million | |||||||
Entergy Gulf States Louisiana VIE | 3.38% Series R due August 2020 | $70 million | |||||||
Entergy Louisiana VIE | 5.69% Series E due July 2014 | $50 million | |||||||
Entergy Louisiana VIE | 3.30% Series F due March 2016 | $20 million | |||||||
Entergy Louisiana VIE | 3.25% Series G due July 2017 | $25 million | |||||||
System Energy VIE | 5.33% Series G due April 2015 | $60 million | |||||||
System Energy VIE | 4.02% Series H due February 2017 | $50 million | |||||||
Book Value And The Fair Value Of Long-Term Debt | ' | ||||||||
           The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2013 are as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,481,752 | $12,294,254Â | |||||||
Entergy Arkansas | $2,412,168 | $2,159,737Â | |||||||
Entergy Gulf States Louisiana | $1,543,608 | $1,605,999Â | |||||||
Entergy Louisiana | $3,229,316 | $3,184,097Â | |||||||
Entergy Mississippi | $1,069,627 | $1,083,993Â | |||||||
Entergy New Orleans | $225,942 | $220,675Â | |||||||
Entergy Texas | $1,567,566 | $1,736,764Â | |||||||
System Energy | $672,406 | $576,502Â | |||||||
(a) | The values exclude lease obligations of $149 million at Entergy Louisiana and $97 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $112 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. | ||||||||
The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2012 were as follows: | |||||||||
Book Value | Fair Value | ||||||||
of Long-Term Debt | of Long-Term Debt (a) (b) | ||||||||
(In Thousands) | |||||||||
Entergy | $12,638,834 | $12,849,330 | |||||||
Entergy Arkansas | $2,123,895 | $1,876,335 | |||||||
Entergy Gulf States Louisiana | $1,517,429 | $1,668,819 | |||||||
Entergy Louisiana | $2,826,095 | $2,921,322 | |||||||
Entergy Mississippi | $1,169,519 | $1,230,714 | |||||||
Entergy New Orleans | $196,300 | $200,725 | |||||||
Entergy Texas | $1,617,813 | $1,885,672 | |||||||
System Energy | $783,799 | $664,670 | |||||||
(a) | The values exclude lease obligations of $163 million at Entergy Louisiana and $139 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $110 million at Entergy, and include debt due within one year. | ||||||||
(b) | Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) (Parent Company [Member]) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Parent Company [Member] | ' | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | |||
Financial Information For Stock Options | ' | |||
The following table includes financial information for stock options for the third quarters of 2013 and 2012: | ||||
2013 | 2012 | |||
(In Millions) | ||||
Compensation expense included in Entergy's net income | $1.00 | $1.90 | ||
Tax benefit recognized in Entergy's net income | $0.40 | $0.70 | ||
Compensation cost capitalized as part of fixed assets and inventory | $0.20 | $0.30 | ||
The following table includes financial information for stock options for the nine months ended September 30, 2013 and 2012: | ||||
2013 | 2012 | |||
(In Millions) | ||||
Compensation expense included in Entergy's net income | $3.20 | $5.80 | ||
Tax benefit recognized in Entergy's net income | $1.30 | $2.20 | ||
Compensation cost capitalized as part of fixed assets and inventory | $0.60 | $1.10 | ||
Financial Information For Restricted Stock | ' | |||
The following table includes financial information for other equity plans for the third quarters of 2013 and 2012: | ||||
2013 | 2012 | |||
(In Millions) | ||||
Compensation expense included in Entergy's net income | $5.70 | $3.70 | ||
Tax benefit recognized in Entergy's net income | $2.20 | $1.40 | ||
Compensation cost capitalized as part of fixed assets and inventory | $0.90 | $0.60 | ||
The following table includes financial information for other equity plans for the nine months ended September 30, 2013 and 2012: | ||||
2013 | 2012 | |||
(In Millions) | ||||
Compensation expense included in Entergy's net income | $17.50 | $11.00 | ||
Tax benefit recognized in Entergy's net income | $6.80 | $4.20 | ||
Compensation cost capitalized as part of fixed assets and inventory | $2.70 | $1.90 |
Retirement_And_Other_Postretir1
Retirement And Other Postretirement Benefits (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Parent Company [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income, amortization | ' | ||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Parent Company [Member] | Pension Plans Defined Benefit [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $43,542Â | $37,691Â | |||||||||||||
Interest cost on projected benefit obligation | 65,464Â | 65,232Â | |||||||||||||
Expected return on assets | -81,898 | -79,356 | |||||||||||||
Amortization of prior service cost | 531Â | 683Â | |||||||||||||
Amortization of loss | 54,156 | 41,820Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $83,099Â | $66,070Â | |||||||||||||
Entergy's qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $131,644Â | $113,073Â | |||||||||||||
Interest cost on projected benefit obligation | 195,996Â | 195,696Â | |||||||||||||
Expected return on assets | -245,394 | -238,068 | |||||||||||||
Amortization of prior service cost | 1,665Â | 2,049Â | |||||||||||||
Amortization of loss | 164,058Â | 125,460Â | |||||||||||||
Curtailment loss | 1,304Â | -Â | |||||||||||||
Net pension costs | $249,273Â | $198,210Â | |||||||||||||
Parent Company [Member] | Other Postretirement [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $18,917Â | $17,221Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 19,766 | 20,640 | |||||||||||||
Expected return on assets | -9,950 | -8,626 | |||||||||||||
Amortization of transition obligation | -Â | 794Â | |||||||||||||
Amortization of prior service cost | -3,334 | -4,541 | |||||||||||||
Amortization of loss | 11,304Â | 9,113Â | |||||||||||||
Net other postretirement benefit cost | $36,703Â | $34,601Â | |||||||||||||
           | |||||||||||||||
Entergy's other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned during the period | $56,751Â | $51,663Â | |||||||||||||
Interest cost on accumulated postretirement benefit | |||||||||||||||
    obligation (APBO) | 59,298 | 61,920 | |||||||||||||
Expected return on assets | -29,850 | -25,878 | |||||||||||||
Amortization of transition obligation | -Â | 2,382Â | |||||||||||||
Amortization of prior service cost | -10,002 | -13,623 | |||||||||||||
Amortization of loss | 33,912Â | 27,339Â | |||||||||||||
Net other postretirement benefit cost | $110,109Â | $103,803Â | |||||||||||||
Entergy Arkansas [Member] | Pension Plans Defined Benefit [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Expected Employer Contributions | ' | ||||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy Arkansas [Member] | Other Postretirement [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Entergy Gulf States Louisiana [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income, amortization | ' | ||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Entergy Gulf States Louisiana [Member] | Pension Plans Defined Benefit [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Expected Employer Contributions | ' | ||||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy Gulf States Louisiana [Member] | Other Postretirement [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Entergy Gulf States Louisiana [Member] | Non-Qualified Pension Plans [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Entergy Louisiana [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income, amortization | ' | ||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income | |||||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the third quarter 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($466) | $3,007Â | ($127) | $2,414Â | |||||||||||
Amortization of loss | -11,050 | -5,485 | -644 | -17,179 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($12,820) | ($2,478) | ($10,433) | ($25,731) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $206Â | $-Â | $206Â | |||||||||||
Amortization of loss | -772 | -1,173 | -2 | -1,947 | |||||||||||
($772) | ($967) | ($2) | ($1,741) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $62Â | $-Â | $62Â | |||||||||||
Amortization of loss | -Â | -1,288 | -Â | -1,288 | |||||||||||
$-Â | ($1,226) | $-Â | ($1,226) | ||||||||||||
Entergy and the Registrant Subsidiaries reclassified the following costs out of accumulated other comprehensive income (before taxes and including amounts capitalized) for the nine months ended September 30, 2013: | |||||||||||||||
Qualified | Other | Non-Qualified | |||||||||||||
Pension | Postretirement | Pension Costs | |||||||||||||
Costs | Costs | Total | |||||||||||||
(In Thousands) | |||||||||||||||
Entergy | |||||||||||||||
Amortization of prior service cost | ($1,472) | $9,022Â | ($375) | $7,175Â | |||||||||||
Amortization of loss | -34,740 | -16,455 | -2,073 | -53,268 | |||||||||||
Curtailment loss | -1,304 | -Â | -Â | -1,304 | |||||||||||
Settlement loss | -Â | -Â | -9,662 | -9,662 | |||||||||||
($37,516) | ($7,433) | ($12,110) | ($57,059) | ||||||||||||
Entergy Gulf States Louisiana | |||||||||||||||
Amortization of prior service cost | ($1) | $618Â | $-Â | $617Â | |||||||||||
Amortization of loss | -2,314 | -3,520 | -5 | -5,839 | |||||||||||
($2,315) | ($2,902) | ($5) | ($5,222) | ||||||||||||
Entergy Louisiana | |||||||||||||||
Amortization of prior service cost | $-Â | $186Â | $-Â | $186Â | |||||||||||
Amortization of loss | -Â | -3,862 | -Â | -3,862 | |||||||||||
$-Â | ($3,676) | $-Â | ($3,676) | ||||||||||||
Entergy Louisiana [Member] | Pension Plans Defined Benefit [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Expected Employer Contributions | ' | ||||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy Louisiana [Member] | Other Postretirement [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Entergy Mississippi [Member] | Pension Plans Defined Benefit [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Expected Employer Contributions | ' | ||||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy Mississippi [Member] | Other Postretirement [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Entergy New Orleans | Pension Plans Defined Benefit [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Expected Employer Contributions | ' | ||||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy New Orleans | Other Postretirement [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Entergy New Orleans | Non-Qualified Pension Plans [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
Entergy Texas [Member] | Pension Plans Defined Benefit [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Expected Employer Contributions | ' | ||||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
Entergy Texas [Member] | Other Postretirement [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 | ||||||||
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2013 | $121 | $38 | $3 | $46 | $22 | $560 | |||||||||
Non-qualified pension cost | |||||||||||||||
 third quarter 2012 | $107 | $39 | $3 | $46 | $19 | $163 | |||||||||
The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2013 and 2012: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | ||||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | ||||||||||
(In Thousands) | |||||||||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2013 | $326 | $113 | $9 | $139 | $68 | $857 | |||||||||
Non-qualified pension cost | |||||||||||||||
 nine months ended | |||||||||||||||
 September 30, 2012 | $321 | $117 | $9 | $138 | $57 | $489 | |||||||||
System Energy [Member] | Pension Plans Defined Benefit [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,371 | $3,599 | $4,334 | $1,842 | $832 | $1,637 | $1,836 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,550 | 6,657 | 8,644 | 3,930 | 1,849 | 4,055 | 3,016 | ||||||||
Expected return on assets | -16,717 | -8,734 | -10,454 | -5,279 | -2,270 | -5,566 | -4,299 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 6 | 2 | 21 | 2 | - | 2 | 3 | ||||||||
Amortization of loss | 12,544Â | 5,933Â | 8,727Â | 3,344Â | 2,011Â | 3,373Â | 2,429Â | ||||||||
Net pension cost | $15,754Â | $7,457Â | $11,272Â | $3,839Â | $2,422Â | $3,501Â | $2,985Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $5,542 | $3,068 | $3,669 | $1,602 | $706 | $1,421 | $1,480 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 13,922 | 6,420 | 8,800 | 4,070 | 1,902 | 4,206 | 3,247 | ||||||||
Expected return on assets | -16,441 | -8,593 | -10,209 | -5,236 | -2,215 | -5,581 | -4,109 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 50 | 5 | 52 | 7 | 2 | 4 | 3 | ||||||||
Amortization of loss | 10,193Â | 4,043Â | 7,050Â | 2,633Â | 1,719Â | 2,544Â | 2,251Â | ||||||||
Net pension cost | $13,266Â | $4,943Â | $9,362Â | $3,076Â | $2,114Â | $2,594Â | $2,872Â | ||||||||
The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $19,113 | $10,797 | $13,002 | $5,526 | $2,496 | $4,911 | $5,508 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 40,650 | 19,971 | 25,932 | 11,790 | 5,547 | 12,165 | 9,048 | ||||||||
Expected return on assets | -50,151 | -26,202 | -31,362 | -15,837 | -6,810 | -16,698 | -12,897 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 18 | 6 | 63 | 6 | - | 6 | 9 | ||||||||
Amortization of loss | 37,631Â | 17,800Â | 26,181Â | 10,032Â | 6,033Â | 10,118Â | 7,286Â | ||||||||
Net pension cost | $47,261Â | $22,372Â | $33,816Â | $11,517Â | $7,266Â | $10,502Â | $8,954Â | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Â Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $16,626 | $9,204 | $11,007 | $4,806 | $2,118 | $4,263 | $4,440 | ||||||||
Interest cost on projected | |||||||||||||||
 benefit obligation | 41,766 | 19,260 | 26,400 | 12,210 | 5,706 | 12,618 | 9,741 | ||||||||
Expected return on assets | -49,323 | -25,779 | -30,627 | -15,708 | -6,645 | -16,743 | -12,327 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | 150 | 15 | 156 | 21 | 6 | 12 | 9 | ||||||||
Amortization of loss | 30,579Â | 12,129Â | 21,150Â | 7,899Â | 5,157Â | 7,632Â | 6,753Â | ||||||||
Net pension cost | $39,798Â | $14,829Â | $28,086Â | $9,228Â | $6,342Â | $7,782Â | $8,616Â | ||||||||
Expected Employer Contributions | ' | ||||||||||||||
Employer Contributions | |||||||||||||||
           Based on current assumptions, Entergy expects to contribute $163.4 million to its qualified pension plans in 2013. As of September 30, 2013, Entergy had contributed $105.8 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2013: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | |||||||||
(In Thousands) | |||||||||||||||
Expected 2013 pension | |||||||||||||||
 contributions | $35,382 | $11,550 | $21,151 | $8,152 | $4,175 | $6,880 | $8,304 | ||||||||
Pension contributions made | |||||||||||||||
 through September 2013 | $21,729 | $7,132 | $13,343 | $5,033 | $2,634 | $4,270 | $5,175 | ||||||||
Remaining estimated pension | |||||||||||||||
 contributions to be made in 2013 | $13,653 | $4,418 | $7,808 | $3,119 | $1,541 | $2,610 | $3,129 | ||||||||
System Energy [Member] | Other Postretirement [Member] | ' | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||
Components Of Net Pension Cost | ' | ||||||||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,414 | $2,001 | $2,172 | $819 | $447 | $950 | $907 | ||||||||
Interest cost on APBO | 3,360Â | 2,226Â | 2,349Â | 1,074Â | 785Â | 1,515Â | 729Â | ||||||||
Expected return on assets | -4,149 | -Â | -Â | -1,317 | -1,014 | -2,321 | -825 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,041Â | 1,173Â | 1,288Â | 662Â | 396Â | 976Â | 479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $3,533 | $5,194 | $5,747 | $1,203 | $624 | $1,013 | $1,274 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $2,272 | $1,880 | $1,949 | $773 | $422 | $913 | $823 | ||||||||
Interest cost on APBO | 3,613Â | 2,398Â | 2,445Â | 1,179Â | 856Â | 1,663Â | 757Â | ||||||||
Expected return on assets | -3,507 | -Â | -Â | -1,130 | -928 | -2,104 | -650 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 205 | 60 | 96 | 88 | 297 | 47 | 2 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -133 | -206 | -62 | -35 | 10 | -107 | -16 | ||||||||
Amortization of loss | 2,077Â | 1,184Â | 1,090Â | 730Â | 390Â | 1,079Â | 493Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $4,527 | $5,316 | $5,518 | $1,605 | $1,047 | $1,491 | $1,409 | ||||||||
The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2013 and 2012, included the following components: | |||||||||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2013 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $7,242 | $6,003 | $6,516 | $2,457 | $1,341 | $2,850 | $2,721 | ||||||||
Interest cost on APBO | 10,080Â | 6,678Â | 7,047Â | 3,222Â | 2,355Â | 4,545Â | 2,187Â | ||||||||
Expected return on assets | -12,447 | -Â | -Â | -3,951 | -3,042 | -6,963 | -2,475 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,124Â | 3,520Â | 3,862Â | 1,987Â | 1,189Â | 2,927Â | 1,437Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $10,600 | $15,583 | $17,239 | $3,610 | $1,873 | $3,038 | $3,822 | ||||||||
Entergy | |||||||||||||||
Entergy | Gulf States | Entergy | Entergy | Entergy | Entergy | System | |||||||||
2012 | Arkansas | Louisiana | Louisiana | Mississippi | New Orleans | Texas | Energy | ||||||||
(In Thousands) | |||||||||||||||
Service cost - benefits earned | |||||||||||||||
 during the period | $6,816 | $5,640 | $5,847 | $2,319 | $1,266 | $2,739 | $2,469 | ||||||||
Interest cost on APBO | 10,839Â | 7,194Â | 7,335Â | 3,537Â | 2,568Â | 4,989Â | 2,271Â | ||||||||
Expected return on assets | -10,521 | -Â | -Â | -3,390 | -2,784 | -6,312 | -1,950 | ||||||||
Amortization of transition | |||||||||||||||
 obligation | 615 | 180 | 288 | 264 | 891 | 141 | 6 | ||||||||
Amortization of prior service | |||||||||||||||
 cost | -399 | -618 | -186 | -105 | 30 | -321 | -48 | ||||||||
Amortization of loss | 6,231Â | 3,552Â | 3,270Â | 2,190Â | 1,170Â | 3,237Â | 1,479Â | ||||||||
Net other postretirement | |||||||||||||||
 benefit cost | $13,581 | $15,948 | $16,554 | $4,815 | $3,141 | $4,473 | $4,227 |
Business_Segment_Information_T
Business Segment Information (Tables) (Parent Company [Member]) | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Parent Company [Member] | ' | |||||||||
Segment Financial Information | ' | |||||||||
Entergy's segment financial information for the third quarters of 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $2,732,482Â | $623,321Â | $787Â Â | ($4,631) | $3,351,959Â | |||||
Income taxes | $170,816Â | ($107,337) | ($38,926) | $-Â | $24,553Â | |||||
Consolidated net income (loss) | $352,303Â | ($92,828) | $11,102Â | ($26,395) | $244,182Â | |||||
2012 | ||||||||||
Operating revenues | $2,344,885Â | $626,849Â | $1,060Â | ($9,234) | $2,963,560Â | |||||
Income taxes | $187,668Â | $56,676Â | ($11,841) | $-Â | $232,503Â | |||||
Consolidated net income (loss) | $300,506Â | $86,772Â | ($18,213) | ($26,395) | $342,670Â | |||||
           | ||||||||||
          Entergy's segment financial information for the nine months ended September 30, 2013 and 2012 is as follows: | ||||||||||
Entergy | ||||||||||
Wholesale | ||||||||||
Utility | Commodities* | All Other | Eliminations | Entergy | ||||||
(In Thousands) | ||||||||||
2013 | ||||||||||
Operating revenues | $6,948,258Â | $1,770,577Â | $2,775Â | ($22,569) | $8,699,041Â | |||||
Income taxes | $340,817Â | ($64,968)Â | ($61,647) | $-Â | $214,202Â | |||||
Consolidated net income (loss) | $680,694Â | $818Â | ($23,107) | ($79,185) | $579,220Â | |||||
2012 | ||||||||||
Operating revenues | $6,136,101Â | $1,754,774Â | $3,027Â | ($28,082) | $7,865,820Â | |||||
Income taxes | $162,914Â | $11,427Â | ($64,201) | $-Â | $110,140Â | |||||
Consolidated net income (loss) | $676,244Â | ($18,420) | ($11,487) | ($79,824) | $566,513Â | |||||
Businesses marked with * are sometimes referred to as the "competitive businesses." Eliminations are primarily intersegment activity. | ||||||||||
Risk_Management_And_Fair_Value1
Risk Management And Fair Values (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Fair Values Of Derivative Instruments | ' | ||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $50 | ($28) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $12 | ($7) | $5 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $40 | ($27) | $13 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $11 | ($7) | $4 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $78 | ($28) | $50 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $15 | ($7) | $8 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other current liabilities | $39 | ($29) | $10 | Entergy Wholesale Commodities | ||||||
(current portion) | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $16 | ($7) | $9 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $3 | ($-) | $3 | Utility | ||||||
           The fair values of Entergy's derivative instruments in the consolidated balance sheet as of December 31, 2012 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | |||||||||||
Instrument | Balance Sheet Location | Fair Value (a) | Offset (b) | Net (c) (d) | Business | ||||||
(In Millions) | |||||||||||
Derivatives designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $123 | ($-) | $123 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $46 | ($10) | $36 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $18 | ($11) | $7 | Entergy Wholesale Commodities | ||||||
Derivatives not designated as hedging instruments | |||||||||||
Assets: | |||||||||||
Electricity swaps and options | Prepayments and other (current portion) | $22 | ($-) | $22 | Entergy Wholesale Commodities | ||||||
Electricity swaps and options | Other deferred debits and other assets (non-current portion) | $24 | ($14) | $10 | Entergy Wholesale Commodities | ||||||
Liabilities: | |||||||||||
Electricity swaps and options | Other non-current liabilities (non-current portion) | $19 | ($13) | $6 | Entergy Wholesale Commodities | ||||||
Natural gas swaps | Other current liabilities | $8 | ($-) | $8 | Utility | ||||||
Derivative Instruments Designated As Cash Flow Hedges On Consolidated Statements Of Income | ' | ||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of loss | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($4) million | Competitive businesses operating revenues | $35 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | ($108) million | Competitive businesses operating revenues | $61 million | ||||||||
           | |||||||||||
           The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain (loss) | Amount of gain | ||||||||||
recognized in other | Â reclassified from | ||||||||||
Instrument | comprehensive income | Income Statement location | AOCI into income | ||||||||
2013 | |||||||||||
Electricity swaps and options | ($78) million | Competitive businesses operating revenues | $38 million | ||||||||
2012 | |||||||||||
Electricity swaps and options | $120 million | Competitive businesses operating revenues | $232 million | ||||||||
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | ' | ||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($1) million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $12 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $7 million | ||||||||
Electricity swaps and options de-designated as hedged items | $3 million | Competitive business operating revenues | ($7) million | ||||||||
The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||
Amount of gain | Income Statement | Amount of gain (loss) | |||||||||
Instrument | recognized in AOCI | location | recorded in income | ||||||||
2013 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | $8 million | ||||||||
Electricity swaps and options de-designated as hedged items | $4 million | Competitive business operating revenues | $2 million | ||||||||
2012 | |||||||||||
Natural gas swaps | $- | Fuel, fuel-related expenses, and gas purchased for resale | ($28) million | ||||||||
Electricity swaps and options de-designated as hedged items | $2 million | Competitive business operating revenues | ($6) million | ||||||||
Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. | |||||||||||
Assets and liabilities at fair value on a recurring basis | ' | ||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $262 | $- | $- | $262 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 418 | 2,470 | - | 2,888 | |||||||
Debt securities | 741 | 999 | - | 1,740 | |||||||
Power contracts | - | - | 85 | 85 | |||||||
Securitization recovery trust account | 50 | - | - | 50 | |||||||
Escrow accounts | 135 | - | - | 135 | |||||||
$1,606 | $3,469 | $85 | $5,160 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $36 | $36 | |||||||
Gas hedge contracts | 3 | - | - | 3 | |||||||
$3 | $- | $36 | $39 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $420 | $- | $- | $420 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 358 | 2,101 | - | 2,459 | |||||||
Debt securities | 769 | 962 | - | 1,731 | |||||||
Power contracts | - | - | 191 | 191 | |||||||
Securitization recovery trust account | 46 | - | - | 46 | |||||||
Escrow accounts | 386 | - | - | 386 | |||||||
$1,979 | $3,063 | $191 | $5,233 | ||||||||
Liabilities: | |||||||||||
Power contracts | $- | $- | $13 | $13 | |||||||
Gas hedge contracts | 8 | - | - | 8 | |||||||
$8 | $- | $13 | $21 | ||||||||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | ' | ||||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of July 1, | $83Â | $375Â | |||||||||
Unrealized gains (losses) from price changes | 9Â Â | -92 | |||||||||
Unrealized losses on originations | (1)Â | -Â | |||||||||
Realized losses included in earnings | (6)Â | -4 | |||||||||
Realized gains on settlements | (36)Â | -61 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2013 and 2012: | |||||||||||
2013 | 2012 | ||||||||||
(In Millions) | |||||||||||
Balance as of January 1, | $178Â | $312Â | |||||||||
Unrealized gains (losses) from price changes | -62 | 136Â | |||||||||
Unrealized gains on originations | -Â | 7Â | |||||||||
Realized losses included in earnings | -29 | -5 | |||||||||
Realized gains on settlements | -38 | -232 | |||||||||
Balance as of September 30, | $49Â | $218Â | |||||||||
FairValueInputsLiabilitiesQuantitativeInformationTableTextBlock | ' | ||||||||||
The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy, and the valuation techniques and significant unobservable inputs to each which cause that classification, as of September 30, 2013: | |||||||||||
Fair Value | Range | ||||||||||
as of | from | ||||||||||
Transaction Type | September 30, | Significant | Average | Effect on | |||||||
2013 | Unobservable Inputs | % | Fair Value | ||||||||
Electricity swaps | $5 million | Unit contingent discount | +/- 3% | $- | |||||||
Electricity options | $44 million | Implied volatility | +/- 40% | $27 million | |||||||
Entergy Arkansas [Member] | ' | ||||||||||
Assets and liabilities at fair value on a recurring basis | ' | ||||||||||
Entergy Arkansas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $41.70 | $- | $- | $41.70 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.2 | 426.6 | - | 430.8 | |||||||
Debt securities | 68.8 | 170.2 | - | 239 | |||||||
Securitization recovery trust account | 7.9 | - | - | 7.9 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$160.60 | $596.80 | $- | $757.40 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $24.90 | $- | $- | $24.90 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 9.5 | 374.5 | - | 384 | |||||||
Debt securities | 94.3 | 122.3 | - | 216.6 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 38 | - | - | 38 | |||||||
$171.10 | $496.80 | $- | $667.90 | ||||||||
Entergy Gulf States Louisiana [Member] | ' | ||||||||||
Fair Values Of Derivative Instruments | ' | ||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | ' | ||||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Assets and liabilities at fair value on a recurring basis | ' | ||||||||||
Entergy Gulf States Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.6 | 341.6 | - | 347.2 | |||||||
Debt securities | 53.3 | 137.1 | - | 190.4 | |||||||
Escrow accounts | 21.5 | - | - | 21.5 | |||||||
$81.00 | $478.70 | $- | $559.70 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.30 | $- | $- | $1.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $0.60 | $- | $- | $0.60 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 5.5 | 283 | - | 288.5 | |||||||
Debt securities | 49.5 | 139.4 | - | 188.9 | |||||||
Escrow accounts | 87 | - | - | 87 | |||||||
$142.60 | $422.40 | $- | $565.00 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.60 | $- | $- | $2.60 | |||||||
Entergy Louisiana [Member] | ' | ||||||||||
Fair Values Of Derivative Instruments | ' | ||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | ' | ||||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Assets and liabilities at fair value on a recurring basis | ' | ||||||||||
Entergy Louisiana | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $40.50 | $- | $- | $40.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 4.6 | 210.1 | - | 214.7 | |||||||
Debt securities | 51.8 | 58.9 | - | 110.7 | |||||||
Securitization recovery trust account | 10.5 | - | - | 10.5 | |||||||
$107.40 | $269.00 | $- | $376.40 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $1.40 | $- | $- | $1.40 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $29.30 | $- | $- | $29.30 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 2 | 173.5 | - | 175.5 | |||||||
Debt securities | 52.6 | 59.3 | - | 111.9 | |||||||
Securitization recovery trust account | 4.4 | - | - | 4.4 | |||||||
Escrow accounts | 187 | - | - | 187 | |||||||
$275.30 | $232.80 | $- | $508.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $3.40 | $- | $- | $3.40 | |||||||
Entergy Mississippi [Member] | ' | ||||||||||
Fair Values Of Derivative Instruments | ' | ||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | ' | ||||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Assets and liabilities at fair value on a recurring basis | ' | ||||||||||
Entergy Mississippi | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Escrow accounts | $61.80 | $- | $- | $61.80 | |||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.30 | $- | $- | $0.30 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $52.40 | $- | $- | $52.40 | |||||||
Escrow accounts | 61.8 | - | - | 61.8 | |||||||
$114.20 | $- | $- | $114.20 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $2.20 | $- | $- | $2.20 | |||||||
Entergy New Orleans | ' | ||||||||||
Fair Values Of Derivative Instruments | ' | ||||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2013 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $1.3 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $1.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $0.3 million | Entergy Mississippi | ||||||||
Natural gas swaps | Other current liabilities | $0.2 million | Entergy New Orleans | ||||||||
           The fair values of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2012 are as follows: | |||||||||||
Instrument | Balance Sheet Location | Fair Value | Registrant | ||||||||
Liabilities: | |||||||||||
Natural gas swaps | Gas hedge contracts | $2.6 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Gas hedge contracts | $3.4 million | Entergy Louisiana | ||||||||
Natural gas swaps | Other current liabilities | $2.2 million | Entergy Mississippi | ||||||||
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | ' | ||||||||||
           The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.4) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.7) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.3) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.1) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.0 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.8 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $1.4 million | Entergy Mississippi | ||||||||
The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||
Amount of gain | |||||||||||
(loss) recorded | |||||||||||
Instrument | Income Statement Location | in income | Registrant | ||||||||
2013 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.4 million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $3.2 million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | $2.2 million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($0.2) million | Entergy New Orleans | ||||||||
2012 | |||||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($8.3) million | Entergy Gulf States Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($10.4) million | Entergy Louisiana | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($7.5) million | Entergy Mississippi | ||||||||
Natural gas swaps | Fuel, fuel-related expenses, and gas purchased for resale | ($1.5) million | Entergy New Orleans | ||||||||
Assets and liabilities at fair value on a recurring basis | ' | ||||||||||
Entergy New Orleans | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $14.40 | $- | $- | $14.40 | |||||||
Escrow accounts | 8.7 | - | - | 8.7 | |||||||
$23.10 | $- | $- | $23.10 | ||||||||
Liabilities: | |||||||||||
Gas hedge contracts | $0.20 | $- | $- | $0.20 | |||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $9.10 | $- | $- | $9.10 | |||||||
Escrow accounts | 10.6 | - | - | 10.6 | |||||||
$19.70 | $- | $- | $19.70 | ||||||||
Entergy Texas [Member] | ' | ||||||||||
Assets and liabilities at fair value on a recurring basis | ' | ||||||||||
Entergy Texas | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $19.70 | $- | $- | $19.70 | |||||||
Securitization recovery trust account | 31.4 | - | - | 31.4 | |||||||
$51.10 | $- | $- | $51.10 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $59.70 | $- | $- | $59.70 | |||||||
Securitization recovery trust account | 37.3 | - | - | 37.3 | |||||||
$97.00 | $- | $- | $97.00 | ||||||||
System Energy [Member] | ' | ||||||||||
Assets and liabilities at fair value on a recurring basis | ' | ||||||||||
System Energy | |||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investment | $3.10 | $- | $- | $3.10 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1 | 342.8 | - | 343.8 | |||||||
Debt securities | 151.6 | 68 | - | 219.6 | |||||||
$155.70 | $410.80 | $- | $566.50 | ||||||||
2012 | Level 1 | Level 2 | Level 3 | Total | |||||||
(In Millions) | |||||||||||
Assets: | |||||||||||
Temporary cash investments | $83.50 | $- | $- | $83.50 | |||||||
Decommissioning trust funds (a): | |||||||||||
Equity securities | 1.6Â | 282 | - | 283.6 | |||||||
Debt securities | 141.1 | 65.9Â | - | 207.0Â | |||||||
$226.20 | $347.90 | $- | $574.10 | ||||||||
Decommissioning_Trust_Funds_Ta
Decommissioning Trust Funds (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Securities Held | ' | ||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $2,888 | $1,067 | $1 | ||||||
Debt Securities | 1,740 | 59 | 24 | ||||||
 Total | $4,628 | $1,126 | $25 | ||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2012 | |||||||||
Equity Securities | $2,459 | $662 | $1 | ||||||
Debt Securities | 1,731 | 116 | 5 | ||||||
 Total | $4,190 | $778 | $6 | ||||||
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | ' | ||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $19 | $1 | $589 | $21 | |||||
More than 12 months | - | - | 39 | 3 | |||||
 Total | $19 | $1 | $628 | $24 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $37 | $1 | $175 | $1 | |||||
More than 12 months | 20 | - | 48 | 4 | |||||
 Total | $57 | $1 | $223 | $5 | |||||
Fair Value Of Debt Securities By Contractual Maturities | ' | ||||||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $109 | $53 | |||||||
1 year - 5 years | 679 | 681 | |||||||
5 years - 10 years | 574 | 562 | |||||||
10 years - 15 years | 145 | 164 | |||||||
15 years - 20 years | 59 | 61 | |||||||
20 years+ | 174 | 210 | |||||||
 Total | $1,740 | $1,731 | |||||||
Entergy Arkansas [Member] | ' | ||||||||
Securities Held | ' | ||||||||
Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $430.80 | $181.70 | $- | ||||||
Debt Securities | 239 | 6.3 | 4.1 | ||||||
  Total | $669.80 | $188.00 | $4.10 | ||||||
2012 | |||||||||
Equity Securities | $384.00 | $116.10 | $- | ||||||
Debt Securities | 216.6 | 14.5 | 0.2 | ||||||
  Total | $600.60 | $130.60 | $0.20 | ||||||
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | ' | ||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $123.70 | $3.90 | |||||
More than 12 months | - | - | 3.3 | 0.2 | |||||
   Total | $0.10 | $- | $127.00 | $4.10 | |||||
           The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $24.40 | $0.20 | |||||
More than 12 months | - | - | 1 | - | |||||
   Total | $0.20 | $- | $25.40 | $0.20 | |||||
Fair Value Of Debt Securities By Contractual Maturities | ' | ||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.20 | $8.80 | |||||||
1 year - 5 years | 100.5 | 98.6 | |||||||
5 years - 10 years | 122.3 | 93.1 | |||||||
10 years - 15 years | 3.3 | 5.1 | |||||||
15 years - 20 years | 0.9 | - | |||||||
20 years+ | 3.8 | 11 | |||||||
 Total | $239.00 | $216.60 | |||||||
Entergy Gulf States Louisiana [Member] | ' | ||||||||
Securities Held | ' | ||||||||
      Entergy Gulf States Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $347.20 | $118.00 | $- | ||||||
Debt Securities | 190.4 | 8.7 | 2.6 | ||||||
  Total | $537.60 | $126.70 | $2.60 | ||||||
2012 | |||||||||
Equity Securities | $288.50 | $69.80 | $- | ||||||
Debt Securities | 188.9 | 15.8 | 0.1 | ||||||
  Total | $477.40 | $85.60 | $0.10 | ||||||
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | ' | ||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.40 | $- | $60.00 | $2.60 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.40 | $- | $60.00 | $2.60 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.20 | $- | $9.10 | $0.10 | |||||
More than 12 months | 1 | - | - | - | |||||
 Total | $2.20 | $- | $9.10 | $0.10 | |||||
Fair Value Of Debt Securities By Contractual Maturities | ' | ||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $8.00 | $8.00 | |||||||
1 year - 5 years | 41.7 | 43.5 | |||||||
5 years - 10 years | 71.5 | 63.5 | |||||||
10 years - 15 years | 52.8 | 55.8 | |||||||
15 years - 20 years | 6.5 | 8.5 | |||||||
20 years+ | 9.9 | 9.6 | |||||||
 Total | $190.40 | $188.90 | |||||||
Entergy Louisiana [Member] | ' | ||||||||
Securities Held | ' | ||||||||
           Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $214.70 | $82.50 | $- | ||||||
Debt Securities | 110.7 | 5.6 | 1.5 | ||||||
  Total | $325.40 | $88.10 | $1.50 | ||||||
2012 | |||||||||
Equity Securities | $175.50 | $48.90 | $0.10 | ||||||
Debt Securities | 111.9 | 9.4 | 0.1 | ||||||
  Total | $287.40 | $58.30 | $0.20 | ||||||
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | ' | ||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.10 | $- | $29.00 | $1.40 | |||||
More than 12 months | - | - | 0.6 | 0.1 | |||||
 Total | $0.10 | $- | $29.60 | $1.50 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.70 | $- | $3.40 | $- | |||||
More than 12 months | 5.6 | 0.1 | 0.5 | 0.1 | |||||
 Total | $6.30 | $0.10 | $3.90 | $0.10 | |||||
Fair Value Of Debt Securities By Contractual Maturities | ' | ||||||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $14.40 | $1.90 | |||||||
1 year - 5 years | 32 | 42.3 | |||||||
5 years - 10 years | 35.6 | 24.9 | |||||||
10 years - 15 years | 6.5 | 18.8 | |||||||
15 years - 20 years | 4.5 | 1.7 | |||||||
20 years+ | 17.7 | 22.3 | |||||||
 Total | $110.70 | $111.90 | |||||||
System Energy [Member] | ' | ||||||||
Securities Held | ' | ||||||||
Total | Total | ||||||||
Fair | Unrealized | Unrealized | |||||||
Value | Gains | Losses | |||||||
(In Millions) | |||||||||
2013 | |||||||||
Equity Securities | $343.80 | $117.90 | $- | ||||||
Debt Securities | 219.6 | 4.6 | 1.2 | ||||||
  Total | $563.40 | $122.50 | $1.20 | ||||||
2012 | |||||||||
Equity Securities | $283.60 | $63.60 | $0.20 | ||||||
Debt Securities | 207 | 9.3 | 0.1 | ||||||
  Total | $490.60 | $72.90 | $0.30 | ||||||
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | ' | ||||||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2013: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $0.20 | $- | $52.90 | $1.20 | |||||
More than 12 months | - | - | - | - | |||||
 Total | $0.20 | $- | $52.90 | $1.20 | |||||
The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2012: | |||||||||
Equity Securities | Debt Securities | ||||||||
Gross | Gross | ||||||||
Fair | Unrealized | Fair | Unrealized | ||||||
Value | Losses | Value | Losses | ||||||
(In Millions) | |||||||||
Less than 12 months | $1.40 | $- | $15.50 | $0.10 | |||||
More than 12 months | 13 | 0.2 | - | - | |||||
 Total | $14.40 | $0.20 | $15.50 | $0.10 | |||||
Fair Value Of Debt Securities By Contractual Maturities | ' | ||||||||
The fair value of debt securities, summarized by contractual maturities, as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
(In Millions) | |||||||||
less than 1 year | $10.40 | $1.30 | |||||||
1 year - 5 years | 132.4 | 128.7 | |||||||
5 years - 10 years | 51 | 53.9 | |||||||
10 years - 15 years | 6.3 | 2.3 | |||||||
15 years - 20 years | 2 | 1.4 | |||||||
20 years+ | 17.5 | 19.4 | |||||||
 Total | $219.60 | $207.00 |
Property_Plant_And_Equipment_T
Property, Plant, And Equipment (Tables) | Sep. 30, 2013 | ||
Property, Plant And Equipment [Abstract] | ' | ||
Significant Unobservable Inputs in Asset Valuation | ' | ||
           The following table sets forth a description of significant unobservable inputs used in the valuation of the Vermont Yankee plant and related assets: | |||
Significant Unobservable Input | Amount | ||
Weighted average cost of capital | 7.50% | ||
Long-term pre-tax operating margin (cash basis) | 7.00% |
Commitments_And_Contingencies_
Commitments And Contingencies (Narrative) (Details) (USD $) | 6 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2013 | Sep. 30, 2013 |
Entergy Mississippi [Member] | ' | ' |
Commitments And Contingencies [Abstract] | ' | ' |
Property Insurance Deductible | ' | $20 |
Entergy Arkansas [Member] | ' | ' |
Commitments And Contingencies [Abstract] | ' | ' |
Course Of Construction Sublimit | ' | 50 |
Estimated Cost To Restore ANO To Service | ' | 100 |
Insurance Receivable | 50 | ' |
Capital Expense | ' | 35 |
Capital Expense In Excess of Insurance Receivable | ' | 33 |
Operation And Maintenance Expense Incurred For ANO Recovery | ' | 13 |
Operation And Maintenance Expense In Excess Of Insurance Receivable | ' | 11 |
Incremental Deferred Refueling Outage Costs For ANO Recovery | ' | 2 |
Incremental Deferred Refueling Outage Costs In Excess of Insurance Receivable | ' | 1 |
Minimum [Member] | Entergy Mississippi [Member] | ' | ' |
Commitments And Contingencies [Abstract] | ' | ' |
Estimated Cost To Restore Baxter Wilson To Service | ' | 25 |
Maximum [Member] | Entergy Mississippi [Member] | ' | ' |
Commitments And Contingencies [Abstract] | ' | ' |
Estimated Cost To Restore Baxter Wilson To Service | ' | $30 |
Rate_And_Regulatory_Matters_Na
Rate And Regulatory Matters (Narrative) (Details) (USD $) | 1 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 4 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | Apr. 30, 2013 | Mar. 31, 2013 | Jan. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | 31-May-12 | Jul. 02, 2013 | Jun. 06, 2013 | Aug. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | 31-May-13 | Apr. 30, 2013 | Jan. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | 31-May-12 | Aug. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Aug. 31, 2013 | Sep. 30, 2013 | Apr. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | |
Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy New Orleans | Entergy New Orleans | Entergy New Orleans | Entergy New Orleans | Entergy Texas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | |
Commitments and Contingencies [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate Case Filing Request Special Circumstances Fuel Cost Recovery Of Purchased Power Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $22,000,000 | ' | ' | ' | ' | ' |
Rate Case Filing Request To Reconcile Fuel and Purchased Power Costs and Fuel Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000,000 | ' | ' | ' | ' | ' |
LPSC Proposed Adjustments to Hurricane Isaac Storm Restoration Costs | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
MPSC Authorized Deferral of MISO Related Implementation Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Provision Recorded For Refund To Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' |
Refund To Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' |
Potential cost for Entergy Arkansas for years 2003, 2004, and 2006 based on intra-system bills | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 |
Increase In Potential Costs For Entergy Arkansas For Years 2003, 2004, and 2006 Based On Intra-System Bill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | ' | ' |
Per LPSC, the amount of damages to be paid by Entergy Arkansas to the Utility Operating Companies | ' | ' | ' | ' | 7,000,000 | ' | ' | ' | ' | ' | ' | 23,000,000 | ' | ' | ' | ' | 42,000,000 | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction In Amount Of Damages That Should Be Paid BY Entergy Arkansas To The Utility Operating Companies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' |
Requested replenishment of storm escrow accounts - Hurricane Isaac | 200,000,000 | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90,000,000 | ' | 90,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Requested recovery of system restoration costs - Hurricane Isaac | ' | 247,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intervenor Recommendation For Replenishment of Storm Reserves Related to Hurricane Isaac | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Storm restoration costs incurred - Hurricane Isaac | ' | ' | ' | ' | ' | ' | ' | 32,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Storm restoration costs incurred that are recoverable through the formula rate plan - Hurricane Isaac | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Storm reserve accrual - Hurricane Isaac | ' | ' | ' | ' | ' | ' | ' | 750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase for first year retail revenue requirement associated with W3 replacement steam generator project | ' | ' | ' | ' | 88,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction For First Year Capacity Charges For Purchase By Entergy Gulf States Louisiana From Entergy Louisiana for One Third Of Acadia Unit 2 Capacity And Energy | ' | ' | ' | ' | 17,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected retail jurisdictional cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
APSC filing requested return on common equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.40% | ' | 10.40% | ' |
APSC filing requested rate increase proposed spin merge of transmission business | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 218,000,000 | ' |
APSC filing requested revenue transfer from collection in riders to base rates MISO scenario | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49,000,000 | ' |
APSC filing requested rate increase transition to MISO scenario | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 145,000,000 | ' | 174,000,000 | ' |
Realignment of the recovery from Entergy Louisiana's fuel adjustment clause to base rates per LPSC January 2013 audit report | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Refund to customers per LPSC Staff January 2013 audit report | ' | ' | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Public Utilities Recommended Midpoint Return On Common Equity | ' | ' | ' | ' | ' | ' | 9.63% | ' | ' | ' | ' | ' | ' | 9.95% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Public Utilities Earned Return On Common Equity | ' | ' | 10.40% | ' | ' | 10.38% | ' | ' | 10.59% | ' | 10.55% | ' | ' | ' | ' | 11.18% | ' | 11.86% | 11.94% | ' | ' | ' | ' | 10.40% | ' | ' | ' | ' | ' |
Rate reduction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate Increase | ' | ' | 13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,600,000 | ' | ' | ' | ' | ' |
Cost Of Service Rate Decrease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,700,000 | 6,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate Decrease for Incremental Capacity Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,300,000 | 22,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate Increase for Incremental Capacity Costs | ' | ' | ' | ' | ' | 15,900,000 | 18,100,000 | ' | ' | ' | ' | ' | ' | ' | 7,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Electric Base Revenue Increase | ' | ' | ' | ' | ' | ' | ' | ' | 22,300,000 | ' | 36,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Electric Base Revenue Decrease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,625,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in Annual Funding for Storm Reserve | ' | ' | ' | ' | ' | ' | ' | 1,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Withdrawal From Funded Storm Reserve | ' | ' | ' | $187,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $65,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate_And_Regulatory_Matters_Co
Rate And Regulatory Matters (Correction Of Regulatory Asset For Income Taxes, Income Statement And Statement Of Cash Flows) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Consolidated Statements Of Income [Abstract] | ' | ' | ' | ' |
Income taxes | $24,553 | $232,503 | $214,202 | $110,140 |
Net income | 244,182 | 342,670 | 579,220 | 566,513 |
Earnings applicable to common equity | 239,850 | 337,088 | 564,973 | 550,405 |
Consolidated Statements Of Cash Flows [Abstract] | ' | ' | ' | ' |
Deferred income taxes, investment tax credits, and non-current taxes accrued | ' | ' | 174,052 | 111,228 |
Changes in other regulatory assets | ' | ' | 173,164 | 49,250 |
Other operating activities | ' | ' | 8,493 | -122,263 |
Entergy Arkansas [Member] | ' | ' | ' | ' |
Consolidated Statements Of Income [Abstract] | ' | ' | ' | ' |
Income taxes | 56,393 | 56,024 | 101,031 | 92,973 |
Net income | 82,577 | 82,551 | 137,779 | 142,180 |
Earnings applicable to common equity | 80,859 | 80,833 | 132,624 | 137,025 |
Consolidated Statements Of Cash Flows [Abstract] | ' | ' | ' | ' |
Deferred income taxes, investment tax credits, and non-current taxes accrued | ' | ' | 99,442 | 97,641 |
Changes in other regulatory assets | ' | ' | 2,515 | 51,089 |
Other operating activities | ' | ' | 7,982 | -51,661 |
Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Consolidated Statements Of Income [Abstract] | ' | ' | ' | ' |
Income taxes | 11,611 | 29,184 | 44,773 | 41,220 |
Net income | 62,642 | 50,210 | 119,528 | 128,958 |
Earnings applicable to common equity | 62,436 | 50,004 | 118,909 | 128,339 |
Consolidated Statements Of Cash Flows [Abstract] | ' | ' | ' | ' |
Deferred income taxes, investment tax credits, and non-current taxes accrued | ' | ' | 78,265 | 51,415 |
Changes in other regulatory assets | ' | ' | 31,754 | -5,648 |
Other operating activities | ' | ' | 66,809 | -4,028 |
Entergy Louisiana [Member] | ' | ' | ' | ' |
Consolidated Statements Of Income [Abstract] | ' | ' | ' | ' |
Income taxes | 39,143 | 42,628 | 72,061 | -127,977 |
Net income | 100,597 | 80,208 | 207,350 | 244,217 |
Earnings applicable to common equity | 98,859 | 78,470 | 202,137 | 239,004 |
Consolidated Statements Of Cash Flows [Abstract] | ' | ' | ' | ' |
Deferred income taxes, investment tax credits, and non-current taxes accrued | ' | ' | 168,988 | -94,765 |
Changes in other regulatory assets | ' | ' | -19,483 | -42,781 |
Other operating activities | ' | ' | 44,742 | -82,978 |
Entergy Mississippi [Member] | ' | ' | ' | ' |
Consolidated Statements Of Income [Abstract] | ' | ' | ' | ' |
Income taxes | 21,938 | 18,516 | 43,678 | 37,102 |
Net income | 33,813 | 27,080 | 66,701 | 51,676 |
Earnings applicable to common equity | 33,106 | 26,373 | 64,580 | 49,555 |
Consolidated Statements Of Cash Flows [Abstract] | ' | ' | ' | ' |
Deferred income taxes, investment tax credits, and non-current taxes accrued | ' | ' | 36,845 | 39,703 |
Changes in other regulatory assets | ' | ' | 8,153 | 10,526 |
Other operating activities | ' | ' | 5,554 | 3,845 |
Entergy New Orleans | ' | ' | ' | ' |
Consolidated Statements Of Income [Abstract] | ' | ' | ' | ' |
Income taxes | 4,248 | 6,168 | 3,646 | 6,276 |
Net income | 8,086 | 10,555 | 9,990 | 17,781 |
Earnings applicable to common equity | 7,845 | 10,314 | 9,266 | 17,057 |
Consolidated Statements Of Cash Flows [Abstract] | ' | ' | ' | ' |
Deferred income taxes, investment tax credits, and non-current taxes accrued | ' | ' | -13,649 | 12,269 |
Changes in other regulatory assets | ' | ' | 13,915 | -10,748 |
Other operating activities | ' | ' | 13,304 | 5,852 |
Entergy Texas [Member] | ' | ' | ' | ' |
Consolidated Statements Of Income [Abstract] | ' | ' | ' | ' |
Income taxes | 21,700 | 12,982 | 32,023 | 26,547 |
Net income | 35,801 | 19,234 | 47,676 | 37,182 |
Consolidated Statements Of Cash Flows [Abstract] | ' | ' | ' | ' |
Deferred income taxes, investment tax credits, and non-current taxes accrued | ' | ' | 78,717 | 28,140 |
Changes in other regulatory assets | ' | ' | 78,433 | 72,559 |
Other operating activities | ' | ' | 6,700 | -255 |
System Energy [Member] | ' | ' | ' | ' |
Consolidated Statements Of Income [Abstract] | ' | ' | ' | ' |
Income taxes | 10,783 | 20,619 | 48,488 | 44,751 |
Net income | 35,105 | 30,616 | 90,845 | 92,520 |
Consolidated Statements Of Cash Flows [Abstract] | ' | ' | ' | ' |
Deferred income taxes, investment tax credits, and non-current taxes accrued | ' | ' | 57,096 | 106,167 |
Changes in other regulatory assets | ' | ' | 13,724 | -38,909 |
Other operating activities | ' | ' | ($26,477) | $22,502 |
Rate_And_Regulatory_Matters_Co1
Rate And Regulatory Matters (Correction Of Regulatory Asset For Income Taxes, Balance Sheet) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Regulatory asset for income taxes - net | $860,169 | $742,030 | ' | ' |
Accumulated deferred income taxes - current | 35,095 | 13,109 | ' | ' |
Accumulated deferred income taxes and taxes accrued | 8,330,667 | 8,311,756 | ' | ' |
Member's equity | 9,502,451 | 9,291,089 | 9,284,522 | 9,055,270 |
Entergy Arkansas [Member] | ' | ' | ' | ' |
Regulatory asset for income taxes - net | 75,286 | 80,751 | ' | ' |
Accumulated deferred income taxes - current | 9,794 | 5,927 | ' | ' |
Accumulated deferred income taxes and taxes accrued | 1,859,020 | 1,829,281 | ' | ' |
Member's equity | 1,697,240 | 1,579,616 | 1,581,149 | 1,444,124 |
Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Regulatory asset for income taxes - net | 171,006 | 171,051 | ' | ' |
Accumulated deferred income taxes - current | 48,902 | 22,249 | ' | ' |
Accumulated deferred income taxes and taxes accrued | 1,463,685 | 1,403,195 | ' | ' |
Member's equity | 1,384,909 | 1,383,004 | 1,407,998 | 1,333,776 |
Entergy Louisiana [Member] | ' | ' | ' | ' |
Regulatory asset for income taxes - net | 310,672 | 193,114 | ' | ' |
Accumulated deferred income taxes - current | 3,865 | 0 | ' | ' |
Accumulated deferred income taxes and taxes accrued | 1,112,480 | 930,606 | ' | ' |
Member's equity | 2,902,823 | 3,070,496 | 2,805,223 | 2,564,929 |
Entergy Mississippi [Member] | ' | ' | ' | ' |
Regulatory asset for income taxes - net | 61,238 | 63,614 | ' | ' |
Accumulated deferred income taxes - current | 3,333 | 218 | ' | ' |
Accumulated deferred income taxes and taxes accrued | 754,316 | 761,812 | ' | ' |
Member's equity | 936,826 | 879,646 | 885,261 | 835,706 |
Entergy New Orleans | ' | ' | ' | ' |
Accumulated deferred income taxes and taxes accrued | 172,340 | 172,790 | ' | ' |
Member's equity | 204,831 | 195,565 | 196,522 | 181,165 |
Entergy Texas [Member] | ' | ' | ' | ' |
Regulatory asset for income taxes - net | 129,645 | 131,287 | ' | ' |
Accumulated deferred income taxes - current | 31,816 | 0 | ' | ' |
Accumulated deferred income taxes and taxes accrued | 1,021,401 | 1,009,081 | ' | ' |
Member's equity | 876,822 | 854,146 | 879,117 | 899,355 |
System Energy [Member] | ' | ' | ' | ' |
Regulatory asset for income taxes - net | 120,739 | 126,503 | ' | ' |
Accumulated deferred income taxes - current | 688 | 1,789 | ' | ' |
Accumulated deferred income taxes and taxes accrued | 783,720 | 782,469 | ' | ' |
Member's equity | 873,574 | 832,729 | 860,333 | 800,563 |
Member's Equity [Member] | Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Member's equity | 1,437,258 | 1,438,233 | 1,455,211 | 1,393,386 |
Member's Equity [Member] | Entergy Louisiana [Member] | ' | ' | ' | ' |
Member's equity | $2,846,910 | $3,016,628 | $2,742,840 | $2,504,436 |
Rate_And_Regulatory_Matters_Co2
Rate And Regulatory Matters (Correction Of Regulatory Asset For Income Taxes, Statement Of Changes In Equity) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Beginning Balance | ' | ' | $9,291,089 | $9,055,270 |
Net income | 244,182 | 342,670 | 579,220 | 566,513 |
Ending Balance | 9,502,451 | 9,284,522 | 9,502,451 | 9,284,522 |
Entergy Arkansas [Member] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 1,579,616 | 1,444,124 |
Net income | 82,577 | 82,551 | 137,779 | 142,180 |
Ending Balance | 1,697,240 | 1,581,149 | 1,697,240 | 1,581,149 |
Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 1,383,004 | 1,333,776 |
Net income | 62,642 | 50,210 | 119,528 | 128,958 |
Ending Balance | 1,384,909 | 1,407,998 | 1,384,909 | 1,407,998 |
Entergy Gulf States Louisiana [Member] | Member's Equity [Member] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 1,438,233 | 1,393,386 |
Net income | ' | ' | 119,528 | 128,958 |
Ending Balance | 1,437,258 | 1,455,211 | 1,437,258 | 1,455,211 |
Entergy Louisiana [Member] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 3,070,496 | 2,564,929 |
Net income | 100,597 | 80,208 | 207,350 | 244,217 |
Ending Balance | 2,902,823 | 2,805,223 | 2,902,823 | 2,805,223 |
Entergy Louisiana [Member] | Member's Equity [Member] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 3,016,628 | 2,504,436 |
Net income | ' | ' | 207,350 | 244,217 |
Ending Balance | 2,846,910 | 2,742,840 | 2,846,910 | 2,742,840 |
Entergy Mississippi [Member] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 879,646 | 835,706 |
Net income | 33,813 | 27,080 | 66,701 | 51,676 |
Ending Balance | 936,826 | 885,261 | 936,826 | 885,261 |
Entergy New Orleans | ' | ' | ' | ' |
Beginning Balance | ' | ' | 195,565 | 181,165 |
Net income | 8,086 | 10,555 | 9,990 | 17,781 |
Ending Balance | 204,831 | 196,522 | 204,831 | 196,522 |
Entergy Texas [Member] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 854,146 | 899,355 |
Net income | 35,801 | 19,234 | 47,676 | 37,182 |
Ending Balance | 876,822 | 879,117 | 876,822 | 879,117 |
System Energy [Member] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 832,729 | 800,563 |
Net income | 35,105 | 30,616 | 90,845 | 92,520 |
Ending Balance | $873,574 | $860,333 | $873,574 | $860,333 |
Rate_And_Regulatory_Matters_Pa
Rate And Regulatory Matters (Payments or Receipts Among Utility Operating Companies Production Cost Based) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Entergy New Orleans | ' |
Payments (receipts) based on production costs | ($15) |
Entergy Texas [Member] | ' |
Payments (receipts) based on production costs | $15 |
Equity_Narrative_Details
Equity (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | ||
Oct. 25, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Equity [Abstract] | ' | ' | ' | ' | ' |
Common stock dividend | $0.83 | $0.83 | $0.83 | $2.49 | $2.49 |
Parent Company [Member] | ' | ' | ' | ' | ' |
Equity [Abstract] | ' | ' | ' | ' | ' |
Stock Options Excluded From Diluted Common Shares Outstanding Calculation | ' | 8,800,000 | 6,200,000 | 8,900,000 | 7,700,000 |
Shares, Issued | ' | 498,426 | ' | 498,426 | ' |
Equity_Schedule_Of_Earnings_Pe
Equity (Schedule Of Earnings Per Share, Basic And Diluted) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Basic earnings per share | ' | ' | ' | ' |
Net income (loss) attributable to Entergy Corporation, Income | $239,850 | $337,088 | $564,973 | $550,405 |
Net Income Attributable to Entergy Corporation, Shares | 178,283,721 | 177,517,846 | 178,170,339 | 177,184,464 |
Net Income Attributable to Entergy Corporation, $/share | $1.35 | $1.90 | $3.17 | $3.11 |
Average dilutive effect of: | ' | ' | ' | ' |
Stock options, Shares | 100,000 | 400,000 | 100,000 | 300,000 |
Stock options $/share | ' | ($0.01) | ' | ($0.01) |
Restricted stock $/share | ($0.01) | ' | ($0.01) | ' |
Restricted stock, Shares | 300,000 | 100,000 | 200,000 | 100,000 |
Diluted earnings per share, Shares | 178,652,210 | 177,975,075 | 178,520,063 | 177,636,549 |
Diluted earnings per share $/share | $1.34 | $1.89 | $3.16 | $3.10 |
Equity_Accumulated_Other_Compr
Equity (Accumulated Other Comprehensive Income (Loss))(Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | ' | ' | ($293,083) | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | ' | ' | 38,420 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | ' | ' | 11,133 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -243,530 | ' | -243,530 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | 30,773 | -61,196 | 49,553 | 31,659 |
Foreign Currency Translation [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | ' | ' | 3,177 | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | ' | ' | -47 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 3,130 | ' | 3,130 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | ' | ' | -47 | ' |
Net Unrealized Investment Gains [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | ' | ' | 214,547 | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | ' | ' | 95,843 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | ' | ' | -1,199 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 309,191 | ' | 309,191 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | ' | ' | 94,644 | ' |
Pension And Other Postretirement Liabilities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | ' | ' | -590,712 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | ' | ' | 35,004 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -555,708 | ' | -555,708 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | ' | ' | 35,004 | ' |
Cash Flow Hedges Net Unrealized Gain [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | ' | ' | 79,905 | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | ' | ' | -57,376 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | ' | ' | -22,672 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -143 | ' | -143 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | ' | ' | -80,048 | ' |
Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | ' | ' | -65,229 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -62,349 | ' | -62,349 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | 963 | 862 | 2,880 | 12,397 |
Entergy Gulf States Louisiana [Member] | Pension And Other Postretirement Liabilities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | -63,312 | ' | -65,229 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 963 | ' | 2,880 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -62,349 | ' | -62,349 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | 963 | ' | 2,880 | ' |
Entergy Louisiana [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | ' | ' | -46,132 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -44,087 | ' | -44,087 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | 684 | 630 | 2,045 | 1,890 |
Entergy Louisiana [Member] | Pension And Other Postretirement Liabilities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | -44,771 | ' | -46,132 | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 684 | ' | 2,045 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -44,087 | ' | -44,087 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | 684 | ' | 2,045 | ' |
Parent Company [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | -274,303 | ' | ' | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 36,515 | ' | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -5,742 | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -243,530 | ' | -243,530 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | 30,773 | ' | ' | ' |
Parent Company [Member] | Foreign Currency Translation [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 2,424 | ' | ' | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 706 | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 3,130 | ' | 3,130 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | 706 | ' | ' | ' |
Parent Company [Member] | Net Unrealized Investment Gains [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 262,891 | ' | ' | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 45,647 | ' | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 653 | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 309,191 | ' | 309,191 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | 46,300 | ' | ' | ' |
Parent Company [Member] | Pension And Other Postretirement Liabilities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | -571,138 | ' | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 15,430 | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -555,708 | ' | -555,708 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | 15,430 | ' | ' | ' |
Parent Company [Member] | Cash Flow Hedges Net Unrealized Gain [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 31,520 | ' | ' | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -9,838 | ' | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -21,825 | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -143 | ' | -143 | ' |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease | ($31,663) | ' | ' | ' |
Equity_Reclassification_out_of
Equity (Reclassification out of Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Competitive Energy Revenue | $621,046,000 | $619,643,000 | $1,754,436,000 | $1,732,624,000 |
Other Nonoperating Income (Expense) | -10,214,000 | -10,768,000 | -36,992,000 | -41,794,000 |
Income Tax Expense (Benefit) | 24,553,000 | 232,503,000 | 214,202,000 | 110,140,000 |
Investment Income, Interest and Dividend | 23,430,000 | 24,490,000 | 102,277,000 | 94,767,000 |
Parent Company [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Competitive Energy Revenue | 35,325,000 | ' | 37,518,000 | ' |
Other Nonoperating Income (Expense) | -389,000 | ' | -1,193,000 | ' |
Income Tax Expense (Benefit) | -13,111,000 | ' | -13,653,000 | ' |
Parent Company [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Income Tax Expense (Benefit) | 627,000 | ' | -1,152,000 | ' |
Investment Income, Interest and Dividend | -1,280,000 | ' | 2,351,000 | ' |
Parent Company [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 2,414,000 | ' | 7,175,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | -17,179,000 | ' | -53,268,000 | ' |
Income Tax Expense (Benefit) | 10,301,000 | ' | 22,055,000 | ' |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | -9,662,000 | ' | -9,662,000 | ' |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | -1,304,000 | ' | -1,304,000 | ' |
Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Other Nonoperating Income (Expense) | -2,822,000 | -1,615,000 | -7,861,000 | -6,727,000 |
Income Tax Expense (Benefit) | 11,611,000 | 29,184,000 | 44,773,000 | 41,220,000 |
Investment Income, Interest and Dividend | 9,428,000 | 13,442,000 | 34,239,000 | 33,350,000 |
Entergy Gulf States Louisiana [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | ' | ' | 617,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | ' | ' | -5,839,000 | ' |
Income Tax Expense (Benefit) | ' | ' | 2,342,000 | ' |
Entergy Gulf States Louisiana [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 206,000 | ' | ' | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | -1,947,000 | ' | ' | ' |
Income Tax Expense (Benefit) | 778,000 | ' | ' | ' |
Entergy Louisiana [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Other Nonoperating Income (Expense) | -618,000 | 519,000 | -2,271,000 | -1,680,000 |
Income Tax Expense (Benefit) | 39,143,000 | 42,628,000 | 72,061,000 | -127,977,000 |
Investment Income, Interest and Dividend | 21,149,000 | 21,566,000 | 64,064,000 | 63,178,000 |
Entergy Louisiana [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | ' | ' | 186,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | ' | ' | -3,862,000 | ' |
Income Tax Expense (Benefit) | ' | ' | 1,631,000 | ' |
Entergy Louisiana [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 62,000 | ' | ' | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | -1,288,000 | ' | ' | ' |
Income Tax Expense (Benefit) | $542,000 | ' | ' | ' |
Revolving_Credit_Facilities_Li2
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Narrative) (Details) (USD $) | 9 Months Ended | 9 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 31, 2013 | Jul. 31, 2013 | 31-May-13 | Jun. 30, 2013 | Jul. 31, 2013 | Jun. 30, 2013 | 31-May-13 | Jun. 30, 2013 | Jan. 31, 2013 | Jan. 31, 2013 | Sep. 30, 2013 | Feb. 28, 2013 | 31-May-13 | Aug. 31, 2013 | Sep. 30, 2013 | Aug. 31, 2013 | 31-May-13 | Sep. 30, 2013 | Oct. 31, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | Oct. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Commercial Paper Program [Member] | Credit Facility [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] | Entergy Texas [Member] | System Energy [Member] | System Energy [Member] | Entergy New Orleans | Entergy New Orleans | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | ||
Credit Facility [Member] | Non Interest Bearing First Mortgage Bonds [Member] | Three Point Zero Five Percent Series First Mortgage Bonds Due June Two Thousand Twenty Three [Member] | Four Point Seven Five Percent Series First Mortgage Bonds Due June Two Thousand Sixty Three [Member] | Five Point Four Percent Series First Mortgage Bonds Due August Two Thousand Thirteen [Member] | Five Point Four Percent Series First Mortgage Bonds Due August Two Thousand Thirteen [Member] | Five Point Four Percent Series First Mortgage Bonds Due August Two Thousand Thirteen [Member] | Nine Percent Series H Notes [Member] | Forty Five Million Dollar PCRB Two Point Three Seven Five Percent Due January Two Thousand Twenty One [Member] | Fifty Four Million PCRB One Point Five Five Percent Due October Two Thousand Seventeen [Member] | Three Point Three Eight Percent Series R Notes Due August Twenty Twenty [Member] | Five Point Five Six Percent Series N Notes [Member] | Four Point Zero Five Percent Series First Mortgage Bonds Due September Two Thousand Twenty Three [Member] | Four Point Seven Percent Series First Mortgage Bonds Due June Two Thousand Sixty Three [Member] | Four Point Six Zero Percent Series Pollution Control Revenue Bonds Due April Two Thousand Twenty Two [Member] | Five Point One Five Percent Series First Mortgage Bonds Due February Two Thousand Thirteen [Member] | Three Point Seven Eight Percent Series I Notes Due October Two Thousand Eighteen [Member] | Six Point Two Nine Percent Seried F Notes [Member] | Three Point Nine Percent Series First Mortgage Bonds Due July Two Thousand Twenty Three [Member] | Five Point Two Five Percent Series First Mortgage Bonds Due August Two Thousand Thirteen [Member] | Entergy Arkansas [Member] | Entergy Gulf States Louisiana [Member] | Entergy Louisiana [Member] | Entergy Texas [Member] | Entergy New Orleans | ||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, maximum borrowing capacity | $3,500,000,000 | ' | ' | ' | $250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, commitment fee percentage | 0.28% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.28% | ' | ' | ' | ' | ' | 0.13% |
Debt, weighted average interest rate | ' | 0.83% | 1.96% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated debt ratio | ' | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' | 65.00% | 65.00% | 65.00% | ' | ' |
Commercial Paper program limit | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial Paper Amount Outstanding | 1,016,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | 65.00% | ' |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance Of Debt | ' | ' | ' | ' | ' | ' | 250,000,000 | 125,000,000 | ' | ' | ' | ' | 45,000,000 | 54,700,000 | ' | ' | ' | ' | ' | 325,000,000 | 100,000,000 | ' | ' | ' | ' | 85,000,000 | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of debt | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | 300,000,000 | 300,000,000 | 30,000,000 | ' | ' | ' | ' | 75,000,000 | 200,000,000 | ' | ' | ' | ' | 16,030,000 | 100,000,000 | ' | ' | 70,000,000 | ' | 70,000,000 | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, interest rate, stated percentage | ' | ' | ' | ' | ' | ' | 3.05% | 4.75% | 5.40% | 5.40% | 5.40% | 9.00% | 2.38% | 1.55% | ' | 3.38% | 5.56% | ' | ' | 4.05% | 4.70% | ' | 4.60% | 5.15% | ' | 3.78% | 6.29% | 3.90% | 5.25% | ' | ' | ' | ' | ' | ' | ' |
Consolidated debt ratio of total capitalization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70.00% | ' | ' | ' | ' | ' | ' |
Issuance of Senior Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | 150,000,000 | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Held-to-maturity Securities Pledged as Collateral | ' | ' | ' | ' | ' | $255,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving_Credit_Facilities_Li3
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Summary Of The Borrowings Outstanding And Capacity Available Under The Facility) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2017 |
In Millions, unless otherwise specified | Parent Company [Member] | |
Summary of the borrowings outstanding and capacity available under the facility | ' | ' |
Capacity | $3,500 | ' |
Borrowings | 150 | ' |
Letters of Credit | 8 | ' |
Capacity Available | 3,342 | ' |
Capacity Decreases | ' | $3,490 |
Revolving_Credit_Facilities_Li4
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Credit Facilities) (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Amount of Facility | $3,500 |
Amount Drawn/ Outstanding | 150 |
Entergy Arkansas [Member] | Credit Facility Of Twenty Million [Member] | ' |
Expiration Date | 1-Apr-14 |
Amount of Facility | 20 |
Interest Rate | 1.75% |
Entergy Arkansas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ' |
Expiration Date | 1-Mar-18 |
Amount of Facility | 150 |
Interest Rate | 1.68% |
Entergy Gulf States Louisiana [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ' |
Expiration Date | 1-Mar-18 |
Amount of Facility | 150 |
Interest Rate | 1.68% |
Entergy Louisiana [Member] | Credit Facility Of Two Hundred Million [Member] | ' |
Expiration Date | 1-Mar-18 |
Amount of Facility | 200 |
Interest Rate | 1.68% |
Entergy Mississippi [Member] | Credit Facility Of Thirty Seven Point Five Million [Member] | ' |
Expiration Date | 1-May-14 |
Amount of Facility | 37.5 |
Interest Rate | 1.93% |
Entergy Mississippi [Member] | Credit Facility Of Thirty Five Million [Member] | ' |
Expiration Date | 1-May-14 |
Amount of Facility | 35 |
Interest Rate | 1.93% |
Entergy Mississippi [Member] | Credit Facility Of Twenty Million [Member] | ' |
Expiration Date | 1-May-14 |
Amount of Facility | 20 |
Interest Rate | 1.93% |
Entergy New Orleans | Credit Facility Of Twenty Five Million [Member] | ' |
Expiration Date | 1-Nov-13 |
Amount of Facility | 25 |
Interest Rate | 1.65% |
Entergy Texas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ' |
Expiration Date | 1-Mar-18 |
Amount of Facility | $150 |
Interest Rate | 1.93% |
Maximum [Member] | Entergy Arkansas [Member] | ' |
Debt ratio | 65.00% |
Maximum [Member] | Entergy New Orleans | ' |
Debt ratio | 65.00% |
Revolving_Credit_Facilities_Li5
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Short-Term Borrowings And The Outstanding Short-Term Borrowings) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Entergy Arkansas [Member] | ' |
Short-term borrowings and the outstanding short-term borrowings | ' |
Authorized | $250 |
Entergy Gulf States Louisiana [Member] | ' |
Short-term borrowings and the outstanding short-term borrowings | ' |
Authorized | 200 |
Borrowings | 58 |
Entergy Louisiana [Member] | ' |
Short-term borrowings and the outstanding short-term borrowings | ' |
Authorized | 250 |
Entergy Mississippi [Member] | ' |
Short-term borrowings and the outstanding short-term borrowings | ' |
Authorized | 175 |
Borrowings | 19 |
Entergy New Orleans | ' |
Short-term borrowings and the outstanding short-term borrowings | ' |
Authorized | 100 |
Entergy Texas [Member] | ' |
Short-term borrowings and the outstanding short-term borrowings | ' |
Authorized | 200 |
System Energy [Member] | ' |
Short-term borrowings and the outstanding short-term borrowings | ' |
Authorized | $200 |
Revolving_Credit_Facilities_Li6
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel) (Details) (USD $) | Sep. 30, 2013 | |
In Millions, unless otherwise specified | ||
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ' | |
Amount Drawn/ Outstanding | $150 | |
Entergy Arkansas VIE [Member] | ' | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ' | |
Expiration Date | 'June 2016 | |
Amount of Facility | 85 | |
Weighted Average Interest Rate on Borrowings | 1.63% | [1] |
Amount Drawn/ Outstanding | 20.1 | |
Entergy Gulf States Louisiana VIE [Member] | ' | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ' | |
Expiration Date | 'June 2016 | |
Amount of Facility | 100 | |
Weighted Average Interest Rate on Borrowings | 1.50% | [1] |
Amount Drawn/ Outstanding | 31 | |
Entergy Louisiana VIE [Member] | ' | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ' | |
Expiration Date | 'June 2016 | |
Amount of Facility | 90 | |
Weighted Average Interest Rate on Borrowings | 1.58% | [1] |
Amount Drawn/ Outstanding | 24.3 | |
System Energy VIE [Member] | ' | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | ' | |
Expiration Date | 'June 2016 | |
Amount of Facility | 125 | |
Weighted Average Interest Rate on Borrowings | 1.57% | [1] |
Amount Drawn/ Outstanding | $46.50 | |
[1] | Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Gulf States Louisiana does not issue commercial paper, but borrows directly on its bank credit facility. |
Revolving_Credit_Facilities_Li7
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Notes Payable By Variable Interest Entities) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Five Point Six Nine Percent Series I Notes Due July Two Thousand Fourteen [Member] | Entergy Arkansas VIE [Member] | ' |
Notes payable by variable interest entities | ' |
Amount | $70 |
Three Point Two Three Percent Series J Notes Due July Two Thousand Sixteen [Member] | Entergy Arkansas VIE [Member] | ' |
Notes payable by variable interest entities | ' |
Amount | 55 |
Three Point Two Five Percent Series Q Due July Two Thousand Seventeen [Member] | Entergy Gulf States Louisiana VIE [Member] | ' |
Notes payable by variable interest entities | ' |
Amount | 75 |
Five Point Six Nine Percent Series E Notes Due July Two Thousand Fourteen [Member] | Entergy Louisiana VIE [Member] | ' |
Notes payable by variable interest entities | ' |
Amount | 50 |
Three Point Three Percent Series F Note Due March Two Thousand Sixteen [Member] | Entergy Louisiana VIE [Member] | ' |
Notes payable by variable interest entities | ' |
Amount | 20 |
Three Point Two Five Percent Series G Due July Two Thousand Seventeen [Member] | Entergy Louisiana VIE [Member] | ' |
Notes payable by variable interest entities | ' |
Amount | 25 |
Five Point Three Three Percent Series G Notes Due April Two Thousand Fifteen [Member] | System Energy VIE [Member] | ' |
Notes payable by variable interest entities | ' |
Amount | 60 |
Four Point Zero Two Percent Series H Notes Due February Two Thousand Seventeen [Member] | System Energy VIE [Member] | ' |
Notes payable by variable interest entities | ' |
Amount | 50 |
Two Point Six Two Percent Series K Notes Due December Two Thousand Seventeen [Member] | Entergy Arkansas VIE [Member] | ' |
Notes payable by variable interest entities | ' |
Amount | 60 |
Three Point Three Eight Percent Series R Notes Due August Two Thousand Twenty [Member] | Entergy Gulf States Louisiana VIE [Member] | ' |
Notes payable by variable interest entities | ' |
Amount | $70 |
Revolving_Credit_Facilities_Li8
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Book Value And The Fair Value Of Long-Term Debt) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Short-term Debt [Line Items] | ' | ' |
Long-term Debt, Fair Value | $12,294,254,000 | $12,849,330,000 |
Long-term Debt, Book Value | 12,481,752,000 | 12,638,834,000 |
Notes payable to power authority | 112,000,000 | 110,000,000 |
Entergy Arkansas [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Long-term Debt, Fair Value | 2,159,737,000 | 1,876,335,000 |
Long-term Debt, Book Value | 2,412,168,000 | 2,123,895,000 |
Long term DOE obligations | 181,000,000 | 181,000,000 |
Entergy Gulf States Louisiana [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Long-term Debt, Fair Value | 1,605,999,000 | 1,668,819,000 |
Long-term Debt, Book Value | 1,543,608,000 | 1,517,429,000 |
Entergy Louisiana [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Long-term Debt, Fair Value | 3,184,097,000 | 2,921,322,000 |
Long-term Debt, Book Value | 3,229,316,000 | 2,826,095,000 |
Capital Lease Obligations | 149,000,000 | 163,000,000 |
Entergy Mississippi [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Long-term Debt, Fair Value | 1,083,993,000 | 1,230,714,000 |
Long-term Debt, Book Value | 1,069,627,000 | 1,169,519,000 |
Entergy New Orleans | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Long-term Debt, Fair Value | 220,675,000 | 200,725,000 |
Long-term Debt, Book Value | 225,942,000 | 196,300,000 |
Entergy Texas [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Long-term Debt, Fair Value | 1,736,764,000 | 1,885,672,000 |
Long-term Debt, Book Value | 1,567,566,000 | 1,617,813,000 |
System Energy [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Long-term Debt, Fair Value | 576,502,000 | 664,670,000 |
Long-term Debt, Book Value | 672,406,000 | 783,799,000 |
Capital Lease Obligations | $97,000,000 | $139,000,000 |
Stock_Based_Compensation_Narra
Stock Based Compensation (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2013 | Sep. 30, 2013 | Jan. 31, 2013 | Jan. 31, 2013 |
Equity Ownership And Long Term Cash Incentive Plan Two Thousand Eleven [Member] | Restricted Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period | 600,700 | ' | ' | ' |
Intrinsic value in the money stock options | ' | $3.10 | ' | ' |
Weighted-average grant-date fair value of options granted | $8 | ' | ' | ' |
Weighted-average exercise price of stock options outstanding | ' | $80.10 | ' | ' |
Stock options outstanding | ' | 9,521,281 | ' | ' |
Restricted stock awards granted | ' | ' | ' | 361,700 |
Long-term incentive plan awards | ' | ' | 201,474 | ' |
Restricted stock awards granted value | ' | ' | ' | $64.60 |
LTIP awards granted value | ' | ' | $65.36 | ' |
Vesting period of awards under Entergy's plans, years | ' | '3 years | ' | ' |
StockBased_Compensation_Financ
Stock-Based Compensation (Financial Information For Stock Options) (Details) (Parent Company [Member], Employee Stock Option [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Parent Company [Member] | Employee Stock Option [Member] | ' | ' | ' | ' |
Employee service share-based compensation, aggregate disclosures | ' | ' | ' | ' |
Compensation expense included in Entergy's net income | $1 | $1.90 | $3.20 | $5.80 |
Tax benefit recognized in Entergy's net income | 0.4 | 0.7 | 1.3 | 2.2 |
Compensation cost capitalized as part of fixed assets and inventory | $0.20 | $0.30 | $0.60 | $1.10 |
StockBased_Compensation_Financ1
Stock-Based Compensation (Financial Information For Other Equity Plans) (Details) (Parent Company [Member], Restricted Stock Awards [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Parent Company [Member] | Restricted Stock Awards [Member] | ' | ' | ' | ' |
Employee service share-based compensation, aggregate disclosures | ' | ' | ' | ' |
Compensation expense included in Entergy's net income | $5.70 | $3.70 | $17.50 | $11 |
Tax benefit recognized in Entergy's net income | 2.2 | 1.4 | 6.8 | 4.2 |
Compensation cost capitalized as part of fixed assets and inventory | $0.90 | $0.60 | $2.70 | $1.90 |
Retirement_And_Other_Postretir2
Retirement And Other Postretirement Benefits (Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Change in Plan Assets | ' | ' | ' | ' | ' |
Pension contributions made through Year To Date | ' | ' | ' | $105,800,000 | ' |
Entergy Arkansas [Member] | ' | ' | ' | ' | ' |
Change in Plan Assets | ' | ' | ' | ' | ' |
Expected 2013 pension contributions | ' | ' | ' | 35,382,000 | ' |
Pension contributions made through Year To Date | ' | ' | ' | 21,729,000 | ' |
Remaining estimated pension contributions to be made in 2013 | 13,653,000 | 13,653,000 | ' | 13,653,000 | ' |
Entergy Texas [Member] | ' | ' | ' | ' | ' |
Change in Plan Assets | ' | ' | ' | ' | ' |
Expected 2013 pension contributions | ' | ' | ' | 6,880,000 | ' |
Pension contributions made through Year To Date | ' | ' | ' | 4,270,000 | ' |
Remaining estimated pension contributions to be made in 2013 | 2,610,000 | 2,610,000 | ' | 2,610,000 | ' |
Scenario, Forecast [Member] | ' | ' | ' | ' | ' |
Change in Plan Assets | ' | ' | ' | ' | ' |
Expected 2013 pension contributions | ' | ' | ' | 163,400,000 | ' |
Non-Qualified Pension Plans [Member] | Parent Company [Member] | ' | ' | ' | ' | ' |
Change in Plan Assets | ' | ' | ' | ' | ' |
Net periodic benefit costs | ' | 33,100,000 | 5,100,000 | 44,100,000 | 15,300,000 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 28,100,000 | ' | ' | ' | ' |
Non-Qualified Pension Plans [Member] | Entergy Arkansas [Member] | ' | ' | ' | ' | ' |
Change in Plan Assets | ' | ' | ' | ' | ' |
Net periodic benefit costs | ' | 121,000 | 107,000 | 326,000 | 321,000 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | ' | ' | ' | 19,000 | ' |
Non-Qualified Pension Plans [Member] | Entergy Texas [Member] | ' | ' | ' | ' | ' |
Change in Plan Assets | ' | ' | ' | ' | ' |
Net periodic benefit costs | ' | 560,000 | 163,000 | 857,000 | 489,000 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | ' | ' | ' | $415,000 | ' |
Retirement_And_Other_Postretir3
Retirement And Other Postretirement Benefits (Components Of Qualified Net Pension Cost) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Pension Plans Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | $43,542,000 | $37,691,000 | $131,644,000 | $113,073,000 |
Interest cost on projected benefit obligation | 65,464,000 | 65,232,000 | 195,996,000 | 195,696,000 |
Expected return on assets | -81,898,000 | -79,356,000 | -245,394,000 | -238,068,000 |
Amortization of prior service cost (credit) | 531,000 | 683,000 | 1,665,000 | 2,049,000 |
Amortization of loss | 54,156,000 | 41,820,000 | 164,058,000 | 125,460,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 83,099,000 | 66,070,000 | 249,273,000 | 198,210,000 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | 1,304,000 | ' | 1,304,000 | ' |
Pension Plans Defined Benefit [Member] | Entergy Arkansas [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 6,371,000 | 5,542,000 | 19,113,000 | 16,626,000 |
Interest cost on projected benefit obligation | 13,550,000 | 13,922,000 | 40,650,000 | 41,766,000 |
Expected return on assets | -16,717,000 | -16,441,000 | -50,151,000 | -49,323,000 |
Amortization of prior service cost (credit) | 6,000 | 50,000 | 18,000 | 150,000 |
Amortization of loss | 12,544,000 | 10,193,000 | 37,631,000 | 30,579,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 15,754,000 | 13,266,000 | 47,261,000 | 39,798,000 |
Pension Plans Defined Benefit [Member] | Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 3,599,000 | 3,068,000 | 10,797,000 | 9,204,000 |
Interest cost on projected benefit obligation | 6,657,000 | 6,420,000 | 19,971,000 | 19,260,000 |
Expected return on assets | -8,734,000 | -8,593,000 | -26,202,000 | -25,779,000 |
Amortization of prior service cost (credit) | 2,000 | 5,000 | 6,000 | 15,000 |
Amortization of loss | 5,933,000 | 4,043,000 | 17,800,000 | 12,129,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 7,457,000 | 4,943,000 | 22,372,000 | 14,829,000 |
Pension Plans Defined Benefit [Member] | Entergy Louisiana [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 4,334,000 | 3,669,000 | 13,002,000 | 11,007,000 |
Interest cost on projected benefit obligation | 8,644,000 | 8,800,000 | 25,932,000 | 26,400,000 |
Expected return on assets | -10,454,000 | -10,209,000 | -31,362,000 | -30,627,000 |
Amortization of prior service cost (credit) | 21,000 | 52,000 | 63,000 | 156,000 |
Amortization of loss | 8,727,000 | 7,050,000 | 26,181,000 | 21,150,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 11,272,000 | 9,362,000 | 33,816,000 | 28,086,000 |
Pension Plans Defined Benefit [Member] | Entergy Mississippi [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 1,842,000 | 1,602,000 | 5,526,000 | 4,806,000 |
Interest cost on projected benefit obligation | 3,930,000 | 4,070,000 | 11,790,000 | 12,210,000 |
Expected return on assets | -5,279,000 | -5,236,000 | -15,837,000 | -15,708,000 |
Amortization of prior service cost (credit) | 2,000 | 7,000 | 6,000 | 21,000 |
Amortization of loss | 3,344,000 | 2,633,000 | 10,032,000 | 7,899,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 3,839,000 | 3,076,000 | 11,517,000 | 9,228,000 |
Pension Plans Defined Benefit [Member] | Entergy New Orleans | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 832,000 | 706,000 | 2,496,000 | 2,118,000 |
Interest cost on projected benefit obligation | 1,849,000 | 1,902,000 | 5,547,000 | 5,706,000 |
Expected return on assets | -2,270,000 | -2,215,000 | -6,810,000 | -6,645,000 |
Amortization of prior service cost (credit) | ' | 2,000 | ' | 6,000 |
Amortization of loss | 2,011,000 | 1,719,000 | 6,033,000 | 5,157,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 2,422,000 | 2,114,000 | 7,266,000 | 6,342,000 |
Pension Plans Defined Benefit [Member] | Entergy Texas [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 1,637,000 | 1,421,000 | 4,911,000 | 4,263,000 |
Interest cost on projected benefit obligation | 4,055,000 | 4,206,000 | 12,165,000 | 12,618,000 |
Expected return on assets | -5,566,000 | -5,581,000 | -16,698,000 | -16,743,000 |
Amortization of prior service cost (credit) | 2,000 | 4,000 | 6,000 | 12,000 |
Amortization of loss | 3,373,000 | 2,544,000 | 10,118,000 | 7,632,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 3,501,000 | 2,594,000 | 10,502,000 | 7,782,000 |
Pension Plans Defined Benefit [Member] | System Energy [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 1,836,000 | 1,480,000 | 5,508,000 | 4,440,000 |
Interest cost on projected benefit obligation | 3,016,000 | 3,247,000 | 9,048,000 | 9,741,000 |
Expected return on assets | -4,299,000 | -4,109,000 | -12,897,000 | -12,327,000 |
Amortization of prior service cost (credit) | 3,000 | 3,000 | 9,000 | 9,000 |
Amortization of loss | 2,429,000 | 2,251,000 | 7,286,000 | 6,753,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 2,985,000 | 2,872,000 | 8,954,000 | 8,616,000 |
Other Postretirement [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 18,917,000 | 17,221,000 | 56,751,000 | 51,663,000 |
Interest cost on projected benefit obligation | 19,766,000 | 20,640,000 | 59,298,000 | 61,920,000 |
Expected return on assets | -9,950,000 | -8,626,000 | -29,850,000 | -25,878,000 |
Amortization of transition obligation | ' | 794,000 | ' | 2,382,000 |
Amortization of prior service cost (credit) | -3,334,000 | -4,541,000 | -10,002,000 | -13,623,000 |
Amortization of loss | 11,304,000 | 9,113,000 | 33,912,000 | 27,339,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 36,703,000 | 34,601,000 | 110,109,000 | 103,803,000 |
Other Postretirement [Member] | Entergy Arkansas [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 2,414,000 | 2,272,000 | 7,242,000 | 6,816,000 |
Interest cost on projected benefit obligation | 3,360,000 | 3,613,000 | 10,080,000 | 10,839,000 |
Expected return on assets | -4,149,000 | -3,507,000 | -12,447,000 | -10,521,000 |
Amortization of transition obligation | ' | 205,000 | ' | 615,000 |
Amortization of prior service cost (credit) | -133,000 | -133,000 | -399,000 | -399,000 |
Amortization of loss | 2,041,000 | 2,077,000 | 6,124,000 | 6,231,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 3,533,000 | 4,527,000 | 10,600,000 | 13,581,000 |
Other Postretirement [Member] | Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 2,001,000 | 1,880,000 | 6,003,000 | 5,640,000 |
Interest cost on projected benefit obligation | 2,226,000 | 2,398,000 | 6,678,000 | 7,194,000 |
Amortization of transition obligation | ' | 60,000 | ' | 180,000 |
Amortization of prior service cost (credit) | -206,000 | -206,000 | -618,000 | -618,000 |
Amortization of loss | 1,173,000 | 1,184,000 | 3,520,000 | 3,552,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 5,194,000 | 5,316,000 | 15,583,000 | 15,948,000 |
Other Postretirement [Member] | Entergy Louisiana [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 2,172,000 | 1,949,000 | 6,516,000 | 5,847,000 |
Interest cost on projected benefit obligation | 2,349,000 | 2,445,000 | 7,047,000 | 7,335,000 |
Amortization of transition obligation | ' | 96,000 | ' | 288,000 |
Amortization of prior service cost (credit) | -62,000 | -62,000 | -186,000 | -186,000 |
Amortization of loss | 1,288,000 | 1,090,000 | 3,862,000 | 3,270,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 5,747,000 | 5,518,000 | 17,239,000 | 16,554,000 |
Other Postretirement [Member] | Entergy Mississippi [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 819,000 | 773,000 | 2,457,000 | 2,319,000 |
Interest cost on projected benefit obligation | 1,074,000 | 1,179,000 | 3,222,000 | 3,537,000 |
Expected return on assets | -1,317,000 | -1,130,000 | -3,951,000 | -3,390,000 |
Amortization of transition obligation | ' | 88,000 | ' | 264,000 |
Amortization of prior service cost (credit) | -35,000 | -35,000 | -105,000 | -105,000 |
Amortization of loss | 662,000 | 730,000 | 1,987,000 | 2,190,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 1,203,000 | 1,605,000 | 3,610,000 | 4,815,000 |
Other Postretirement [Member] | Entergy New Orleans | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 447,000 | 422,000 | 1,341,000 | 1,266,000 |
Interest cost on projected benefit obligation | 785,000 | 856,000 | 2,355,000 | 2,568,000 |
Expected return on assets | -1,014,000 | -928,000 | -3,042,000 | -2,784,000 |
Amortization of transition obligation | ' | 297,000 | ' | 891,000 |
Amortization of prior service cost (credit) | 10,000 | 10,000 | 30,000 | 30,000 |
Amortization of loss | 396,000 | 390,000 | 1,189,000 | 1,170,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 624,000 | 1,047,000 | 1,873,000 | 3,141,000 |
Other Postretirement [Member] | Entergy Texas [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 950,000 | 913,000 | 2,850,000 | 2,739,000 |
Interest cost on projected benefit obligation | 1,515,000 | 1,663,000 | 4,545,000 | 4,989,000 |
Expected return on assets | -2,321,000 | -2,104,000 | -6,963,000 | -6,312,000 |
Amortization of transition obligation | ' | 47,000 | ' | 141,000 |
Amortization of prior service cost (credit) | -107,000 | -107,000 | -321,000 | -321,000 |
Amortization of loss | 976,000 | 1,079,000 | 2,927,000 | 3,237,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 1,013,000 | 1,491,000 | 3,038,000 | 4,473,000 |
Other Postretirement [Member] | System Energy [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost - benefits earned during the period | 907,000 | 823,000 | 2,721,000 | 2,469,000 |
Interest cost on projected benefit obligation | 729,000 | 757,000 | 2,187,000 | 2,271,000 |
Expected return on assets | -825,000 | -650,000 | -2,475,000 | -1,950,000 |
Amortization of transition obligation | ' | 2,000 | ' | 6,000 |
Amortization of prior service cost (credit) | -16,000 | -16,000 | -48,000 | -48,000 |
Amortization of loss | 479,000 | 493,000 | 1,437,000 | 1,479,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 1,274,000 | 1,409,000 | 3,822,000 | 4,227,000 |
Non-Qualified Pension Plans [Member] | Parent Company [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost | 33,100,000 | 5,100,000 | 44,100,000 | 15,300,000 |
Non-Qualified Pension Plans [Member] | Entergy Arkansas [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost | 121,000 | 107,000 | 326,000 | 321,000 |
Non-Qualified Pension Plans [Member] | Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost | 38,000 | 39,000 | 113,000 | 117,000 |
Non-Qualified Pension Plans [Member] | Entergy Louisiana [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost | 3,000 | 3,000 | 9,000 | 9,000 |
Non-Qualified Pension Plans [Member] | Entergy Mississippi [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost | 46,000 | 46,000 | 139,000 | 138,000 |
Non-Qualified Pension Plans [Member] | Entergy New Orleans | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost | 22,000 | 19,000 | 68,000 | 57,000 |
Non-Qualified Pension Plans [Member] | Entergy Texas [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost | $560,000 | $163,000 | $857,000 | $489,000 |
Retirement_And_Other_Postretir4
Retirement And Other Postretirement Benefits (Expected Employer Contributions) (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Change in Plan Assets | ' |
Pension contributions made through Year To Date | $105,800 |
Entergy Arkansas [Member] | ' |
Change in Plan Assets | ' |
Expected 2013 pension contributions | 35,382 |
Pension contributions made through Year To Date | 21,729 |
Remaining estimated pension contributions to be made in 2013 | 13,653 |
Entergy Gulf States Louisiana [Member] | ' |
Change in Plan Assets | ' |
Expected 2013 pension contributions | 11,550 |
Pension contributions made through Year To Date | 7,132 |
Remaining estimated pension contributions to be made in 2013 | 4,418 |
Entergy Louisiana [Member] | ' |
Change in Plan Assets | ' |
Expected 2013 pension contributions | 21,151 |
Pension contributions made through Year To Date | 13,343 |
Remaining estimated pension contributions to be made in 2013 | 7,808 |
Entergy Mississippi [Member] | ' |
Change in Plan Assets | ' |
Expected 2013 pension contributions | 8,152 |
Pension contributions made through Year To Date | 5,033 |
Remaining estimated pension contributions to be made in 2013 | 3,119 |
Entergy New Orleans | ' |
Change in Plan Assets | ' |
Expected 2013 pension contributions | 4,175 |
Pension contributions made through Year To Date | 2,634 |
Remaining estimated pension contributions to be made in 2013 | 1,541 |
Entergy Texas [Member] | ' |
Change in Plan Assets | ' |
Expected 2013 pension contributions | 6,880 |
Pension contributions made through Year To Date | 4,270 |
Remaining estimated pension contributions to be made in 2013 | 2,610 |
System Energy [Member] | ' |
Change in Plan Assets | ' |
Expected 2013 pension contributions | 8,304 |
Pension contributions made through Year To Date | 5,175 |
Remaining estimated pension contributions to be made in 2013 | $3,129 |
Retirement_And_Other_Postretir5
Retirement And Other Postretirement Benefits (Reclassification Out Of Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Pension Plans Defined Benefit [Member] | Parent Company [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Amortization of Prior Service Cost (Credit), Pre Tax | ($466) | ($1,472) |
Amortization of Gains (Losses), Pre Tax | -11,050 | -34,740 |
Recognized Net Gain (Loss) Due To Curtailments, Pre Tax | -1,304 | -1,304 |
Pension Plans Defined Benefit [Member] | Entergy Gulf States Louisiana [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Amortization of Prior Service Cost (Credit), Pre Tax | ' | -1 |
Amortization of Gains (Losses), Pre Tax | -772 | -2,314 |
Other Postretirement [Member] | Parent Company [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Amortization of Prior Service Cost (Credit), Pre Tax | 3,007 | 9,022 |
Amortization of Gains (Losses), Pre Tax | -5,485 | -16,455 |
Other Postretirement [Member] | Entergy Gulf States Louisiana [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Amortization of Prior Service Cost (Credit), Pre Tax | 206 | 618 |
Amortization of Gains (Losses), Pre Tax | -1,173 | -3,520 |
Other Postretirement [Member] | Entergy Louisiana [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Amortization of Prior Service Cost (Credit), Pre Tax | 62 | 186 |
Amortization of Gains (Losses), Pre Tax | -1,288 | -3,862 |
Non-Qualified Pension Plans [Member] | Parent Company [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Amortization of Prior Service Cost (Credit), Pre Tax | -127 | -375 |
Amortization of Gains (Losses), Pre Tax | -644 | -2,073 |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | -9,662 | -9,662 |
Non-Qualified Pension Plans [Member] | Entergy Gulf States Louisiana [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Amortization of Gains (Losses), Pre Tax | ($2) | ($5) |
Business_Segment_Information_S
Business Segment Information (Segment Financial Information) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Financial Information | ' | ' | ' | ' |
Operating revenues | $3,351,959 | $2,963,560 | $8,699,041 | $7,865,820 |
Income taxes (benefits) | 24,553 | 232,503 | 214,202 | 110,140 |
Consolidated net income | 244,182 | 342,670 | 579,220 | 566,513 |
Utility [Member] | ' | ' | ' | ' |
Segment Financial Information | ' | ' | ' | ' |
Operating revenues | 2,732,482 | 2,344,885 | 6,948,258 | 6,136,101 |
Income taxes (benefits) | 170,816 | 187,668 | 340,817 | 162,914 |
Consolidated net income | 352,303 | 300,506 | 680,694 | 676,244 |
Entergy Wholesale Commodities [Member] | ' | ' | ' | ' |
Segment Financial Information | ' | ' | ' | ' |
Operating revenues | 623,321 | 626,849 | 1,770,577 | 1,754,774 |
Income taxes (benefits) | -107,337 | 56,676 | -64,968 | 11,427 |
Consolidated net income | -92,828 | 86,772 | 818 | -18,420 |
All Other [Member] | ' | ' | ' | ' |
Segment Financial Information | ' | ' | ' | ' |
Operating revenues | 787 | 1,060 | 2,775 | 3,027 |
Income taxes (benefits) | -38,926 | -11,841 | -61,647 | -64,201 |
Consolidated net income | 11,102 | -18,213 | -23,107 | -11,487 |
Eliminations [Member] | ' | ' | ' | ' |
Segment Financial Information | ' | ' | ' | ' |
Operating revenues | -4,631 | -9,234 | -22,569 | -28,082 |
Consolidated net income | ($26,395) | ($26,395) | ($79,185) | ($79,824) |
Recovered_Sheet1
Risk Management and Fair Values (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Y | MWh | ||||
Y | |||||
Risk Management and Fair Values [Abstract] | ' | ' | ' | ' | ' |
Derivative, Collateral, Obligation to Return Cash | $7 | ' | $7 | ' | $56 |
Cash flow hedges relating to power sales as part of net unrealized gains | ' | ' | 7 | ' | ' |
Reclassified from accumulated other comprehensive income (OCI) to operating revenues | ' | ' | 6 | ' | ' |
Maturity of cash flow hedges, before taxes | 35 | 61 | 38 | 232 | ' |
Maturity of cash flow hedges, Tax | 13 | 21 | 14 | 81 | ' |
Maximum length of time over which Company is currently hedging the variability in future cash flows for forecasted power transactions, years | 2.25 | ' | 2.25 | ' | ' |
Planned generation sold forward from non utility nuclear power plants for the remainder of the period | ' | ' | 82.00% | ' | ' |
Planned Generation Sold Forward under financial derivatives | 59.00% | ' | 59.00% | ' | ' |
Total planned generation for remainder of the period | ' | ' | 11,000,000 | ' | ' |
Change in cash flow hedges due to ineffectiveness | 1.8 | 1.2 | 2.3 | 1.6 | ' |
Dollar amount of hedge contract in a liability position | 32 | 2 | 32 | 2 | ' |
Total volume of natural gas swaps outstanding (MMBtu) | 19,081,000 | ' | 19,081,000 | ' | ' |
Cash flow hedges in-the-money contracts | 85 | ' | 85 | ' | ' |
Cash flow hedges out-of-money contracts | $36 | ' | $36 | ' | ' |
Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' | ' |
Risk Management and Fair Values [Abstract] | ' | ' | ' | ' | ' |
Total volume of natural gas swaps outstanding (MMBtu) | 7,600,000 | ' | 7,600,000 | ' | ' |
Entergy Louisiana [Member] | ' | ' | ' | ' | ' |
Risk Management and Fair Values [Abstract] | ' | ' | ' | ' | ' |
Total volume of natural gas swaps outstanding (MMBtu) | 8,540,000 | ' | 8,540,000 | ' | ' |
Entergy Mississippi [Member] | ' | ' | ' | ' | ' |
Risk Management and Fair Values [Abstract] | ' | ' | ' | ' | ' |
Total volume of natural gas swaps outstanding (MMBtu) | 2,010,000 | ' | 2,010,000 | ' | ' |
Entergy New Orleans | ' | ' | ' | ' | ' |
Risk Management and Fair Values [Abstract] | ' | ' | ' | ' | ' |
Total volume of natural gas swaps outstanding (MMBtu) | 931,000 | ' | 931,000 | ' | ' |
Recovered_Sheet2
Risk Management and Fair Values (Fair Values Of Derivative Instruments) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Assets: | ' | ' |
Derivative asset as hedging instrument offset | ($7) | ($56) |
Other Non-Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value, Net Liability | 4 | 7 |
Derivative Liability, Fair Value, Gross Liability | 11 | 18 |
Derivative liability as hedging instrument offset | -7 | -11 |
Other Non-Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value, Net Liability | 9 | 6 |
Derivative Liability, Fair Value, Gross Liability | 16 | 19 |
Derivative liability as hedging instrument offset | -7 | -13 |
Other Deferred Debits And Other Assets [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value, Net Asset | 5 | 36 |
Derivative Asset, Fair Value, Gross Asset | 12 | 46 |
Derivative asset as hedging instrument offset | -7 | -10 |
Other Deferred Debits And Other Assets [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value, Net Asset | 8 | 10 |
Derivative Asset, Fair Value, Gross Asset | 15 | 24 |
Derivative asset as hedging instrument offset | -7 | -14 |
Prepayments And Other [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value, Net Asset | 22 | 123 |
Derivative Asset, Fair Value, Gross Asset | 50 | 123 |
Derivative asset as hedging instrument offset | -28 | ' |
Prepayments And Other [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value, Net Asset | 50 | 22 |
Derivative Asset, Fair Value, Gross Asset | 78 | 22 |
Derivative asset as hedging instrument offset | -28 | ' |
Other Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value, Net Liability | 13 | ' |
Derivative Liability, Fair Value, Gross Liability | 40 | ' |
Derivative liability as hedging instrument offset | -27 | ' |
Other Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value, Net Liability | 10 | ' |
Derivative Liability, Fair Value, Gross Liability | 39 | ' |
Derivative liability as hedging instrument offset | -29 | ' |
Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value, Net Liability | 3 | 8 |
Derivative Liability, Fair Value, Gross Liability | 3 | 8 |
Entergy Gulf States Louisiana [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 1.3 | 2.6 |
Entergy Louisiana [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 1.4 | 3.4 |
Entergy Mississippi [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 0.3 | 2.2 |
Entergy New Orleans | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value, Gross Liability | $0.20 | ' |
Risk_Management_and_Fair_Value2
Risk Management and Fair Values (Derivative Instruments Designated as Cash Flow Hedges On Consolidated Statements Of Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Effect of Derivative instruments designated as cash flow hedges on consolidated statements of income | ' | ' | ' | ' |
Amount of gain reclassified from accumulated OCI into income (effective portion) | $35 | $61 | $38 | $232 |
Competitive Businesses Operating Revenues [Member] | Electricity Swaps And Options [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' |
Effect of Derivative instruments designated as cash flow hedges on consolidated statements of income | ' | ' | ' | ' |
Amount of gain (loss) recognized in AOCI (effective portion) | -4 | -108 | -78 | 120 |
Amount of gain reclassified from accumulated OCI into income (effective portion) | $35 | $61 | $38 | $232 |
Risk_Management_and_Fair_Value3
Risk Management and Fair Values (Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income) (Details) (Not Designated As Hedging Instrument [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Competitive Businesses Operating Revenues [Member] | Electricity Swaps And Options [Member] | ' | ' | ' | ' |
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | ' | ' | ' | ' |
Amount of gain (loss) recognized in AOCI | $4 | $3 | $4 | $2 |
Amount of gain (loss) recorded in income | 12 | -7 | 2 | -6 |
Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Swap [Member] | ' | ' | ' | ' |
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | ' | ' | ' | ' |
Amount of gain (loss) recognized in AOCI | ' | ' | 'Â Â | ' |
Amount of gain (loss) recorded in income | ' | ' | 8 | -28 |
Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | ' | ' | ' | ' |
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | ' | ' | ' | ' |
Amount of gain (loss) recorded in income | -1 | 7 | ' | ' |
Entergy Gulf States Louisiana [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | ' | ' | ' | ' |
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | ' | ' | ' | ' |
Amount of gain (loss) recorded in income | -0.4 | 2 | 2.4 | -8.3 |
Entergy Louisiana [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | ' | ' | ' | ' |
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | ' | ' | ' | ' |
Amount of gain (loss) recorded in income | -0.7 | 3.8 | 3.2 | -10.4 |
Entergy Mississippi [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | ' | ' | ' | ' |
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | ' | ' | ' | ' |
Amount of gain (loss) recorded in income | -0.3 | 1.4 | 2.2 | -7.5 |
Entergy New Orleans | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | ' | ' | ' | ' |
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | ' | ' | ' | ' |
Amount of gain (loss) recorded in income | ($0.10) | ' | ($0.20) | ($1.50) |
Risk_Management_and_Fair_Value4
Risk Management and Fair Values (Assets And Liabilities At Fair Value On A Recurring Basis) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Liabilities at fair value on a recurring basis | ' | ' |
Average Coupon Rate of Debt Securities Percentage | 3.54% | ' |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | $262 | $420 |
Total | 5,160 | 5,233 |
Liabilities at fair value on a recurring basis | ' | ' |
Total | 39 | 21 |
Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 3 | 8 |
Power Contracts Liabilities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 36 | 13 |
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 2,888 | 2,459 |
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 1,740 | 1,731 |
Power Contracts Assets [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 85 | 191 |
Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 50 | 46 |
Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 135 | 386 |
Fair Value Inputs Level 1 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 262 | 420 |
Total | 1,606 | 1,979 |
Liabilities at fair value on a recurring basis | ' | ' |
Total | 3 | 8 |
Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 3 | 8 |
Fair Value Inputs Level 1 [Member] | Power Contracts Liabilities [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | ' | 'Â Â |
Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 418 | 358 |
Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 741 | 769 |
Fair Value Inputs Level 1 [Member] | Power Contracts Assets [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | ' | 'Â Â |
Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 50 | 46 |
Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 135 | 386 |
Fair Value Inputs Level 2 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | ' | 'Â Â |
Total | 3,469 | 3,063 |
Liabilities at fair value on a recurring basis | ' | ' |
Total | ' | 'Â Â |
Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | ' | 'Â Â |
Fair Value Inputs Level 2 [Member] | Power Contracts Liabilities [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | ' | 'Â Â |
Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 2,470 | 2,101 |
Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 999 | 962 |
Fair Value Inputs Level 2 [Member] | Power Contracts Assets [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | ' | 'Â Â |
Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | ' | 'Â Â |
Fair Value Inputs Level 2 [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | ' | 'Â Â |
Fair Value Inputs Level 3 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | ' | 'Â Â |
Total | 85 | 191 |
Liabilities at fair value on a recurring basis | ' | ' |
Total | 36 | 13 |
Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | ' | 'Â Â |
Fair Value Inputs Level 3 [Member] | Power Contracts Liabilities [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 36 | 13 |
Fair Value Inputs Level 3 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | ' | 'Â Â |
Fair Value Inputs Level 3 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | ' | 'Â Â |
Fair Value Inputs Level 3 [Member] | Power Contracts Assets [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 85 | 191 |
Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | ' | 'Â Â |
Fair Value Inputs Level 3 [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | ' | 'Â Â |
Entergy Arkansas [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 41.7 | 24.9 |
Total | 757.4 | 667.9 |
Liabilities at fair value on a recurring basis | ' | ' |
Average Coupon Rate of Debt Securities Percentage | 2.83% | ' |
Entergy Arkansas [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 430.8 | 384 |
Entergy Arkansas [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 239 | 216.6 |
Entergy Arkansas [Member] | Securitization Recovery Trust Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 7.9 | 4.4 |
Entergy Arkansas [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 38 | 38 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 41.7 | 24.9 |
Total | 160.6 | 171.1 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 4.2 | 9.5 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 68.8 | 94.3 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 7.9 | 4.4 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 38 | 38 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Total | 596.8 | 496.8 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 426.6 | 374.5 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 170.2 | 122.3 |
Entergy Gulf States Louisiana [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 0.6 | 0.6 |
Total | 559.7 | 565 |
Liabilities at fair value on a recurring basis | ' | ' |
Average Coupon Rate of Debt Securities Percentage | 4.58% | ' |
Entergy Gulf States Louisiana [Member] | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 1.3 | 2.6 |
Entergy Gulf States Louisiana [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 347.2 | 288.5 |
Entergy Gulf States Louisiana [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 190.4 | 188.9 |
Entergy Gulf States Louisiana [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 21.5 | 87 |
Entergy Gulf States Louisiana [Member] | Fair Value Inputs Level 1 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 0.6 | 0.6 |
Total | 81 | 142.6 |
Entergy Gulf States Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 1.3 | 2.6 |
Entergy Gulf States Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 5.6 | 5.5 |
Entergy Gulf States Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 53.3 | 49.5 |
Entergy Gulf States Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 21.5 | 87 |
Entergy Gulf States Louisiana [Member] | Fair Value Inputs Level 2 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Total | 478.7 | 422.4 |
Entergy Gulf States Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 341.6 | 283 |
Entergy Gulf States Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 137.1 | 139.4 |
Entergy Louisiana [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 40.5 | 29.3 |
Total | 376.4 | 508.1 |
Liabilities at fair value on a recurring basis | ' | ' |
Average Coupon Rate of Debt Securities Percentage | 3.42% | ' |
Entergy Louisiana [Member] | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 1.4 | 3.4 |
Entergy Louisiana [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 214.7 | 175.5 |
Entergy Louisiana [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 110.7 | 111.9 |
Entergy Louisiana [Member] | Securitization Recovery Trust Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 10.5 | 4.4 |
Entergy Louisiana [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | ' | 187 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 40.5 | 29.3 |
Total | 107.4 | 275.3 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 1.4 | 3.4 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 4.6 | 2 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 51.8 | 52.6 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 10.5 | 4.4 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | ' | 187 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Total | 269 | 232.8 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 210.1 | 173.5 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 58.9 | 59.3 |
Entergy Mississippi [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | ' | 52.4 |
Total | ' | 114.2 |
Entergy Mississippi [Member] | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 0.3 | 2.2 |
Entergy Mississippi [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 61.8 | 61.8 |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | ' | 52.4 |
Total | ' | 114.2 |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 0.3 | 2.2 |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 61.8 | 61.8 |
Entergy New Orleans | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 14.4 | 9.1 |
Total | 23.1 | 19.7 |
Entergy New Orleans | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 0.2 | ' |
Entergy New Orleans | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 8.7 | 10.6 |
Entergy New Orleans | Fair Value Inputs Level 1 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 14.4 | 9.1 |
Total | 23.1 | 19.7 |
Entergy New Orleans | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | ' | ' |
Liabilities at fair value on a recurring basis | ' | ' |
Liabilities, Fair Value Disclosure on Recurring Basis | 0.2 | ' |
Entergy New Orleans | Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 8.7 | 10.6 |
Entergy Texas [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 19.7 | 59.7 |
Total | 51.1 | 97 |
Entergy Texas [Member] | Securitization Recovery Trust Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 31.4 | 37.3 |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 19.7 | 59.7 |
Total | 51.1 | 97 |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 31.4 | 37.3 |
System Energy [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 3.1 | 83.5 |
Total | 566.5 | 574.1 |
Liabilities at fair value on a recurring basis | ' | ' |
Average Coupon Rate of Debt Securities Percentage | 2.57% | ' |
System Energy [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 343.8 | 283.6 |
System Energy [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 219.6 | 207 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Temporary cash investments | 3.1 | 83.5 |
Total | 155.7 | 226.2 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 1 | 1.6 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 151.6 | 141.1 |
System Energy [Member] | Fair Value Inputs Level 2 [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Total | 410.8 | 347.9 |
System Energy [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | 342.8 | 282 |
System Energy [Member] | Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | ' | ' |
Assets at fair value on a recurring basis | ' | ' |
Assets other than temporary cash investments | $68 | $65.90 |
Risk_Management_and_Fair_Value5
Risk Management and Fair Values (Reconciliation Of Changes In The Net Assets (Liabilities) For The Fair Value Of Derivatives Classified As Level 3 In The Fair Value Hierarchy) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | ' | ' | ' | ' |
Realized Gains Losses Due To Ineffectiveness | ($6) | ($4) | ($29) | ($5) |
Balance as of Beginning of Period | 83 | 375 | 178 | 312 |
Unrealized gains from price changes | 9 | -92 | -62 | 136 |
Unrealized gains on originations | -1 | ' | ' | 7 |
Realized gains on settlements | -36 | -61 | -38 | -232 |
Balance as of End of Period | $49 | $218 | $49 | $218 |
Risk_Management_and_Fair_Value6
Risk Management and Fair Values (Schedules Of Valuation Techniques) (Details) (Parent Company [Member], USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Parent Company [Member] | ' |
Range From Average Percentage for Electricity Options | 40.00% |
Range from Average Percentage for Fair Value of Electricity Swaps | 3.00% |
Effect of Significant Unobservable Inputs on Fair Value of Electricity Options | $27 |
Fair Value of Electricity Options | 44 |
Fair Value of Electricity Swaps | $5 |
Decommissioning_Trust_Funds_Na
Decommissioning Trust Funds (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Decommissioning Trust Funds [Abstract] | ' | ' | ' | ' | ' |
Deferred taxes on unrealized gains/(losses) recorded in OCI for non-regulated decommissioning trusts | ' | ' | $276,000,000 | ' | $211,000,000 |
Amortized cost of debt securities | 1,709,000,000 | ' | 1,709,000,000 | ' | 1,637,000,000 |
Average coupon rate of debt securities | 3.54% | ' | 3.54% | ' | ' |
Average duration of debt securities, years | '5 years 1 month 16 days | ' | '5 years 1 month 16 days | ' | ' |
Average maturity of debt securities, years | '7 years 8 months 5 days | ' | '7 years 8 months 5 days | ' | ' |
Proceeds from the dispositions of debt securities | 284,000,000 | 472,000,000 | 1,064,000,000 | 1,417,000,000 | ' |
Gains from dispositions of debt securities, gross | 3,000,000 | 8,000,000 | 25,000,000 | 32,000,000 | ' |
Losses from dispositions of debt securities, gross | 4,000,000 | 200,000 | 7,000,000 | 5,000,000 | ' |
Entergy Arkansas [Member] | ' | ' | ' | ' | ' |
Decommissioning Trust Funds [Abstract] | ' | ' | ' | ' | ' |
Amortized cost of debt securities | 240,000,000 | ' | 240,000,000 | ' | 202,300,000 |
Average coupon rate of debt securities | 2.83% | ' | 2.83% | ' | ' |
Average duration of debt securities, years | '5 years 3 months 20 days | ' | '5 years 3 months 20 days | ' | ' |
Average maturity of debt securities, years | '6 years 0 months 11 days | ' | '6 years 0 months 11 days | ' | ' |
Proceeds from the dispositions of debt securities | 30,300,000 | 15,000,000 | 173,400,000 | 103,400,000 | ' |
Gains from dispositions of debt securities, gross | 600,000 | 100,000 | 9,300,000 | 2,800,000 | ' |
Losses from dispositions of debt securities, gross | 100,000 | 10,000 | 200,000 | 50,000 | ' |
Entergy Gulf States Louisiana [Member] | ' | ' | ' | ' | ' |
Decommissioning Trust Funds [Abstract] | ' | ' | ' | ' | ' |
Amortized cost of debt securities | 182,500,000 | ' | 182,500,000 | ' | 174,100,000 |
Average coupon rate of debt securities | 4.58% | ' | 4.58% | ' | ' |
Average duration of debt securities, years | '5 years 5 months 17 days | ' | '5 years 5 months 17 days | ' | ' |
Average maturity of debt securities, years | '8 years 1 month 6 days | ' | '8 years 1 month 6 days | ' | ' |
Proceeds from the dispositions of debt securities | 19,500,000 | 35,900,000 | 66,200,000 | 96,700,000 | ' |
Gains from dispositions of debt securities, gross | 300,000 | 3,900,000 | 6,600,000 | 6,400,000 | ' |
Losses from dispositions of debt securities, gross | 20,000 | 700,000 | 30,000 | 30,000 | ' |
Entergy Louisiana [Member] | ' | ' | ' | ' | ' |
Decommissioning Trust Funds [Abstract] | ' | ' | ' | ' | ' |
Amortized cost of debt securities | 106,800,000 | ' | 106,800,000 | ' | 102,600,000 |
Average coupon rate of debt securities | 3.42% | ' | 3.42% | ' | ' |
Average duration of debt securities, years | '4 years 10 months 28 days | ' | '4 years 10 months 28 days | ' | ' |
Average maturity of debt securities, years | '8 years 6 months 12 days | ' | '8 years 6 months 12 days | ' | ' |
Proceeds from the dispositions of debt securities | 2,700,000 | 9,500,000 | 12,200,000 | 19,800,000 | ' |
Gains from dispositions of debt securities, gross | 10,000 | 100,000 | 60,000 | 200,000 | ' |
Losses from dispositions of debt securities, gross | 10,000 | 500 | 30,000 | 30,000 | ' |
System Energy [Member] | ' | ' | ' | ' | ' |
Decommissioning Trust Funds [Abstract] | ' | ' | ' | ' | ' |
Amortized cost of debt securities | 216,500,000 | ' | 216,500,000 | ' | 197,800,000 |
Average coupon rate of debt securities | 2.57% | ' | 2.57% | ' | ' |
Average duration of debt securities, years | '4 years 5 months 21 days | ' | '4 years 5 months 21 days | ' | ' |
Average maturity of debt securities, years | '5 years 11 months 20 days | ' | '5 years 11 months 20 days | ' | ' |
Proceeds from the dispositions of debt securities | 53,400,000 | 91,800,000 | 144,600,000 | 315,000,000 | ' |
Gains from dispositions of debt securities, gross | 100,000 | 500,000 | 900,000 | 3,500,000 | ' |
Losses from dispositions of debt securities, gross | $800,000 | $50,000 | $1,200,000 | $200,000 | ' |
Decommissioning_Trust_Funds_Se
Decommissioning Trust Funds (Securities Held) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value | $2,888 | $2,459 |
Total Unrealized Gains | 1,067 | 662 |
Total Unrealized Losses | 1 | 1 |
Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value | 1,740 | 1,731 |
Total Unrealized Gains | 59 | 116 |
Total Unrealized Losses | 24 | 5 |
Entergy Arkansas [Member] | Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value | 430.8 | 384 |
Total Unrealized Gains | 181.7 | 116.1 |
Entergy Arkansas [Member] | Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value | 239 | 216.6 |
Total Unrealized Gains | 6.3 | 14.5 |
Total Unrealized Losses | 4.1 | 0.2 |
Entergy Gulf States Louisiana [Member] | Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value | 347.2 | 288.5 |
Total Unrealized Gains | 118 | 69.8 |
Entergy Gulf States Louisiana [Member] | Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value | 190.4 | 188.9 |
Total Unrealized Gains | 8.7 | 15.8 |
Total Unrealized Losses | 2.6 | 0.1 |
Entergy Louisiana [Member] | Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value | 214.7 | 175.5 |
Total Unrealized Gains | 82.5 | 48.9 |
Total Unrealized Losses | ' | 0.1 |
Entergy Louisiana [Member] | Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value | 110.7 | 111.9 |
Total Unrealized Gains | 5.6 | 9.4 |
Total Unrealized Losses | 1.5 | 0.1 |
System Energy [Member] | Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value | 343.8 | 283.6 |
Total Unrealized Gains | 117.9 | 63.6 |
Total Unrealized Losses | ' | 0.2 |
System Energy [Member] | Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value | 219.6 | 207 |
Total Unrealized Gains | 4.6 | 9.3 |
Total Unrealized Losses | $1.20 | $0.10 |
Decommissioning_Trust_Funds_Av
Decommissioning Trust Funds (Available For Sale Securities Continuous Unrealized Loss Position Fair Value) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | $19 | $37 |
More than 12 months Fair Value | ' | 20 |
Total Fair Value | 19 | 57 |
Less than 12 Months Gross Unrealized Losses | 1 | 1 |
Total Gross Unrealized Losses | 1 | 1 |
Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | 589 | 175 |
More than 12 months Fair Value | 39 | 48 |
Total Fair Value | 628 | 223 |
Less than 12 Months Gross Unrealized Losses | 21 | 1 |
More than 12 Months Gross Unrealized Losses | 3 | 4 |
Total Gross Unrealized Losses | 24 | 5 |
Entergy Arkansas [Member] | Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | 0.1 | 0.2 |
Total Fair Value | 0.1 | 0.2 |
Entergy Arkansas [Member] | Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | 123.7 | 24.4 |
More than 12 months Fair Value | 3.3 | 1 |
Total Fair Value | 127 | 25.4 |
Less than 12 Months Gross Unrealized Losses | 3.9 | 0.2 |
More than 12 Months Gross Unrealized Losses | 0.2 | ' |
Total Gross Unrealized Losses | 4.1 | 0.2 |
Entergy Gulf States Louisiana [Member] | Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | 0.4 | 1.2 |
More than 12 months Fair Value | ' | 1 |
Total Fair Value | 0.4 | 2.2 |
Entergy Gulf States Louisiana [Member] | Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | 60 | 9.1 |
Total Fair Value | 60 | 9.1 |
Less than 12 Months Gross Unrealized Losses | 2.6 | 0.1 |
Total Gross Unrealized Losses | 2.6 | 0.1 |
Entergy Louisiana [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | ' | 0.7 |
More than 12 months Fair Value | ' | 5.6 |
Total Fair Value | ' | 6.3 |
Entergy Louisiana [Member] | Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | 0.1 | ' |
Total Fair Value | 0.1 | ' |
More than 12 Months Gross Unrealized Losses | ' | 0.1 |
Total Gross Unrealized Losses | ' | 0.1 |
Entergy Louisiana [Member] | Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | 29 | 3.4 |
More than 12 months Fair Value | 0.6 | 0.5 |
Total Fair Value | 29.6 | 3.9 |
Less than 12 Months Gross Unrealized Losses | 1.4 | ' |
More than 12 Months Gross Unrealized Losses | 0.1 | 0.1 |
Total Gross Unrealized Losses | 1.5 | 0.1 |
System Energy [Member] | Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | 0.2 | 1.4 |
More than 12 months Fair Value | ' | 13 |
Total Fair Value | 0.2 | 14.4 |
More than 12 Months Gross Unrealized Losses | ' | 0.2 |
Total Gross Unrealized Losses | ' | 0.2 |
System Energy [Member] | Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months Fair Value | 52.9 | 15.5 |
Total Fair Value | 52.9 | 15.5 |
Less than 12 Months Gross Unrealized Losses | 1.2 | 0.1 |
Total Gross Unrealized Losses | $1.20 | $0.10 |
Decommissioning_Trust_Funds_Fa
Decommissioning Trust Funds (Fair Value Of Debt Securities By Contractual Maturities) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair value of debt securities by contractual maturities | ' | ' |
Less than 1 year | $109 | $53 |
1 year - 5 years | 679 | 681 |
5 years - 10 years | 574 | 562 |
10 years - 15 years | 145 | 164 |
15 years - 20 years | 59 | 61 |
20 years+ | 174 | 210 |
Total | 1,740 | 1,731 |
Entergy Arkansas [Member] | ' | ' |
Fair value of debt securities by contractual maturities | ' | ' |
Less than 1 year | 8.2 | 8.8 |
1 year - 5 years | 100.5 | 98.6 |
5 years - 10 years | 122.3 | 93.1 |
10 years - 15 years | 3.3 | 5.1 |
15 years - 20 years | 0.9 | ' |
20 years+ | 3.8 | 11 |
Total | 239 | 216.6 |
Entergy Gulf States Louisiana [Member] | ' | ' |
Fair value of debt securities by contractual maturities | ' | ' |
Less than 1 year | 8 | 8 |
1 year - 5 years | 41.7 | 43.5 |
5 years - 10 years | 71.5 | 63.5 |
10 years - 15 years | 52.8 | 55.8 |
15 years - 20 years | 6.5 | 8.5 |
20 years+ | 9.9 | 9.6 |
Total | 190.4 | 188.9 |
Entergy Louisiana [Member] | ' | ' |
Fair value of debt securities by contractual maturities | ' | ' |
Less than 1 year | 14.4 | 1.9 |
1 year - 5 years | 32 | 42.3 |
5 years - 10 years | 35.6 | 24.9 |
10 years - 15 years | 6.5 | 18.8 |
15 years - 20 years | 4.5 | 1.7 |
20 years+ | 17.7 | 22.3 |
Total | 110.7 | 111.9 |
System Energy [Member] | ' | ' |
Fair value of debt securities by contractual maturities | ' | ' |
Less than 1 year | 10.4 | 1.3 |
1 year - 5 years | 132.4 | 128.7 |
5 years - 10 years | 51 | 53.9 |
10 years - 15 years | 6.3 | 2.3 |
15 years - 20 years | 2 | 1.4 |
20 years+ | 17.5 | 19.4 |
Total | $219.60 | $207 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 1 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Mar. 31, 2013 |
Parent Company [Member] | ' | ' |
Reduction Of Repair And Maintenance Tax Decuction | $348 | ' |
Entergy Arkansas [Member] | ' | ' |
Reduction Of Repair And Maintenance Tax Decuction | 114 | ' |
Entergy Gulf States Louisiana [Member] | ' | ' |
Reduction Of Repair And Maintenance Tax Decuction | 34 | ' |
Entergy Louisiana [Member] | ' | ' |
Reduction Of Repair And Maintenance Tax Decuction | 22 | ' |
Income Tax Credit Distribution To Parent | ' | 20.6 |
Entergy Mississippi [Member] | ' | ' |
Reduction Of Repair And Maintenance Tax Decuction | 43 | ' |
Entergy New Orleans | ' | ' |
Increase In Repair And Maintenance Tax Deduction | 2 | ' |
Entergy Texas [Member] | ' | ' |
Reduction Of Repair And Maintenance Tax Decuction | $137 | ' |
Property_Plant_And_Equipment_N
Property, Plant, And Equipment (Narrative) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2014 |
In Millions, unless otherwise specified | Entergy Arkansas [Member] | Entergy Arkansas [Member] | Entergy Gulf States Louisiana [Member] | Entergy Gulf States Louisiana [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member] | Entergy New Orleans | Entergy New Orleans | Entergy Texas [Member] | Entergy Texas [Member] | System Energy [Member] | System Energy [Member] | Vermont Yankee [Member] | Minimum [Member] | Maximum [Member] | ||
Vermont Yankee [Member] | Vermont Yankee [Member] | ||||||||||||||||||
Construction expenditures in accounts payable | $91.50 | $267 | $25.60 | $56.30 | $17.70 | $9.70 | $12.40 | $110.40 | $0.80 | $4.80 | $1.40 | $1.90 | $4.70 | $8.60 | $5.20 | $13.50 | ' | ' | ' |
Estimated Fair Value of Nuclear Plant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62 | ' | ' |
Carrying Value of Nuclear Plant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 349 | ' | ' |
Asset Impairment Charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 291.5 | ' | ' |
After-Tax Asset Impairment Charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 183.7 | ' | ' |
Increase in decommissioning liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58 | ' | ' |
Supplemental Unemployment Benefits, Severance Benefits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $55 | $60 |
Property_Plant_And_Equipment_S
Property, Plant, And Equipment (Significant Unobservable Inputs) (Details) | Jul. 31, 2013 |
Property, Plant And Equipment [Abstract] | ' |
Operating Margin Used In Asset Valuation | 7.00% |
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% |
Variable_Interest_Entities_Nar
Variable Interest Entities (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Entergy Louisiana [Member] | ' | ' | ' | ' |
Variable Interest Entities (Textual) [Abstract] | ' | ' | ' | ' |
Payments on lease, including interest | $7.80 | $12.30 | $26.30 | $39.10 |
System Energy [Member] | ' | ' | ' | ' |
Variable Interest Entities (Textual) [Abstract] | ' | ' | ' | ' |
Payments on lease, including interest | $3.70 | $1.80 | $50.50 | $50 |
Waterford Three [Member] | ' | ' | ' | ' |
Variable Interest Entities (Textual) [Abstract] | ' | ' | ' | ' |
Percentage in power plant owned by VIE | ' | ' | 9.30% | ' |
Grand Gulf [Member] | ' | ' | ' | ' |
Variable Interest Entities (Textual) [Abstract] | ' | ' | ' | ' |
Percentage in power plant owned by VIE | ' | ' | 11.50% | ' |
Asset_Retirement_Obligations_N
Asset Retirement Obligations (Narrative) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | Parent Company [Member] | Parent Company [Member] | Vermont Yankee [Member] |
Guarantee To Satisfy NRC Requirements Following 2009 Review Of Financial Assurance Levels | ' | ' | $40 |
Vermont Yankee Decommissioning Trust Balance | ' | ' | 584 |
NRC Minimum For Decommissioning Financial Assurance For License Termination | ' | ' | 566 |
Increase in decommissioning liability | 58 | ' | 58 |
Reduction in decommissioning liability | ' | $46.60 | ' |