Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 31, 2019 | |
Entity Registrant Name | ENTERGY CORPORATION | |
City Area Code | 504 | |
Local Phone Number | 576-4000 | |
Entity Tax Identification Number | 72-1229752 | |
Entity File Number | 1-11299 | |
Entity Central Index Key | 0000065984 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, State or Province | 639 Loyola Avenue | |
Entity Address, City or Town | New Orleans | |
Entity Address, State or Province | LA | |
Entity Address, Country | US | |
Entity Address, Postal Zip Code | 70113 | |
Entity Common Stock, Shares Outstanding | 199,102,083 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Document Transition Report | false | |
NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ETR | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Common Stock, $0.01 Par Value | |
CHICAGO STOCK EXCHANGE, INC [Member] | ||
Trading Symbol | ETR | |
Security Exchange Name | CHX | |
Title of 12(b) Security | Common Stock, $0.01 Par Value | |
Entergy Arkansas [Member] | ||
Entity Registrant Name | ENTERGY ARKANSAS, LLC | |
City Area Code | 501 | |
Local Phone Number | 377-4000 | |
Entity Tax Identification Number | 83-1918668 | |
Entity File Number | 1-10764 | |
Entity Central Index Key | 0000007323 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, State or Province | 425 West Capitol Avenue | |
Entity Address, City or Town | Little Rock | |
Entity Address, State or Province | AR | |
Entity Address, Country | US | |
Entity Address, Postal Zip Code | 72201 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entergy Louisiana [Member] | ||
Entity Registrant Name | ENTERGY LOUISIANA, LLC | |
City Area Code | 504 | |
Local Phone Number | 576-4000 | |
Entity Tax Identification Number | 47-4469646 | |
Entity File Number | 1-32718 | |
Entity Central Index Key | 0001348952 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, State or Province | 4809 Jefferson Highway | |
Entity Address, City or Town | Jefferson | |
Entity Address, State or Province | LA | |
Entity Address, Country | US | |
Entity Address, Postal Zip Code | 70121 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entergy Mississippi [Member] | ||
Entity Registrant Name | ENTERGY MISSISSIPPI, LLC | |
City Area Code | 601 | |
Local Phone Number | 368-5000 | |
Entity Tax Identification Number | 83-1950019 | |
Entity File Number | 1-31508 | |
Entity Central Index Key | 0000066901 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, State or Province | 308 East Pearl Street | |
Entity Address, City or Town | Jackson | |
Entity Address, State or Province | MS | |
Entity Address, Country | US | |
Entity Address, Postal Zip Code | 39201 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entergy New Orleans [Member] | ||
Entity Registrant Name | ENTERGY NEW ORLEANS, LLC | |
City Area Code | 504 | |
Local Phone Number | 670-3700 | |
Entity Tax Identification Number | 82-2212934 | |
Entity File Number | 1-35747 | |
Entity Central Index Key | 0000071508 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, State or Province | 1600 Perdido Street | |
Entity Address, City or Town | New Orleans | |
Entity Address, State or Province | LA | |
Entity Address, Country | US | |
Entity Address, Postal Zip Code | 70112 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entergy Texas [Member] | ||
Entity Registrant Name | ENTERGY TEXAS, INC. | |
City Area Code | 409 | |
Local Phone Number | 981-2000 | |
Entity Tax Identification Number | 61-1435798 | |
Entity File Number | 1-34360 | |
Entity Central Index Key | 0001427437 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, State or Province | 10055 Grogans Mill Road | |
Entity Address, City or Town | The Woodlands | |
Entity Address, State or Province | TX | |
Entity Address, Country | US | |
Entity Address, Postal Zip Code | 77380 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
System Energy [Member] | ||
Entity Registrant Name | SYSTEM ENERGY RESOURCES, INC. | |
City Area Code | 601 | |
Local Phone Number | 368-5000 | |
Entity Tax Identification Number | 72-0752777 | |
Entity File Number | 1-09067 | |
Entity Central Index Key | 0000202584 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | AR | |
Entity Address, State or Province | 1340 Echelon Parkway | |
Entity Address, City or Town | Jackson | |
Entity Address, State or Province | MS | |
Entity Address, Country | US | |
Entity Address, Postal Zip Code | 39213 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Five Point Six Two Five Percent Series First Mortgage Bonds Due June Two Thousand Sixty Four [Member] | Entergy Texas [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | EZT | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 5.625% Series due June 2064 | |
Mortgage Bonds, Five Point Five Percent Series, Due April Two Thousand Sixty Six [Member] | Entergy New Orleans [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ENO | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 5.50% Series due April 2066 | |
Mortgage Bonds 5.0 Series Due December Two Thousand Fifty Two [Member] | Entergy New Orleans [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ENJ | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 5.0% Series due December 2052 | |
Mortgage Bonds, Four Point Nine Zero Percent Series, Due October Two Thousand Sixty Six [Member] | Entergy Mississippi [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | EMP | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 4.90% Series due October 2066 | |
Mortgage Bonds Four Point Seven Percent Series Due June Two Thousand Sixty Three [Member] | Entergy Louisiana [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ELU | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 4.70% Series due June 2063 | |
Mortgage Bonds Five Point Two Five Percent Series Due July Two Thousand Fifty Two [Member] | Entergy Louisiana [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ELJ | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 5.25% Series due July 2052 | |
Four Point Eight Seven Five Percent Series First Mortgage Bonds Due September Two Thousand Sixty Six [Member] | Entergy Arkansas [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | EAI | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 4.875% Series due September 2066 | |
Four Point Eight Seven Five Percent Series First Mortgage Bonds Due September Two Thousand Sixty Six [Member] | Entergy Louisiana [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ELC | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 4.875% Series due September 2066 | |
Mortgage Bonds Four Point Seven Five Percent Series Due June Two Thousand Sixty Three [Member] [Member] | Entergy Arkansas [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | EAE | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 4.75% Series due June 2063 | |
Mortgage Bonds Four Point Nine Percent Series Due Decembertwenty Fifty Two [Member] | Entergy Arkansas [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | EAB | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | Mortgage Bonds, 4.90% Series due December 2052 | |
5.375% Series A Preferred Stock, Cumulative, No Par Value [Domain] | Entergy Texas [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||
Trading Symbol | ETI/PR | |
Security Exchange Name | NYSE | |
Title of 12(b) Security | 5.375% Series A Preferred Stock, Cumulative, No Par Value (Liquidation Value $25 Per Share) |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,140,575 | $ 3,104,319 | $ 8,416,367 | $ 8,496,970 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 596,939 | 729,269 | 1,542,592 | 1,638,367 |
Nuclear refueling outage expenses | 52,044 | 37,937 | 153,447 | 116,057 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 805,696 | 854,013 | 2,430,617 | 2,477,699 |
Asset Impairment Charges | 198,086 | 155,215 | 288,483 | 297,082 |
Decommissioning | 101,811 | 93,829 | 308,557 | 285,834 |
Taxes, Other | 165,731 | 161,916 | 487,715 | 485,682 |
Other Depreciation and Amortization | 379,219 | 324,628 | 1,099,990 | 1,022,099 |
Other regulatory charges (credits) - net | 4,781 | 37,097 | (38,698) | 223,416 |
Costs and Expenses | 2,620,646 | 2,833,284 | 7,274,410 | 7,798,673 |
OPERATING INCOME | 519,929 | 271,035 | 1,141,957 | 698,297 |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 33,161 | 32,354 | 108,546 | 92,367 |
Investment Income, Net | 82,295 | 177,081 | 406,663 | 265,086 |
Miscellaneous - net | (50,086) | (43,591) | (160,614) | (123,439) |
TOTAL | 65,370 | 165,844 | 354,595 | 234,014 |
INTEREST EXPENSE | ||||
Interest expense | 201,412 | 195,311 | 603,517 | 570,548 |
Allowance for borrowed funds used during construction | (14,773) | (15,244) | (49,034) | (43,177) |
TOTAL | 186,639 | 180,067 | 554,483 | 527,371 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 398,660 | 256,812 | 942,069 | 404,940 |
Income taxes | 29,201 | (283,006) | 73,430 | (519,937) |
Consolidated net income | 369,459 | 539,818 | 868,639 | 924,877 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | $ 4,219 | $ 3,439 | $ 12,438 | $ 10,317 |
Earnings per average common share: | ||||
Basic (in dollars per share) | $ 1.84 | $ 2.96 | $ 4.42 | $ 5.06 |
Diluted (in dollars per share) | $ 1.82 | $ 2.92 | $ 4.38 | $ 5.01 |
Basic average number of common shares outstanding (in shares) | 198,932,387 | 181,002,303 | 193,876,557 | 180,845,440 |
Diluted average number of common shares outstanding (in shares) | 200,492,935 | 183,664,583 | 195,685,851 | 182,692,325 |
Net Income (Loss) Available to Common Stockholders, Basic | $ 365,240 | $ 536,379 | $ 856,201 | $ 914,560 |
Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,812,934 | 2,697,887 | 7,279,683 | 7,276,374 |
Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 27,269 | 26,352 | 112,916 | 112,990 |
Competitive Businesses [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 300,372 | 380,080 | 1,023,768 | 1,107,606 |
Electricity, Purchased [Member] | ||||
Operation and Maintenance: | ||||
Cost of Goods and Services Sold | 316,339 | 439,380 | 1,001,707 | 1,252,437 |
Entergy Mississippi [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 398,732 | 367,734 | 983,713 | 1,037,166 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 87,386 | 78,533 | 188,006 | 207,724 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 69,253 | 69,936 | 195,357 | 193,979 |
Taxes, Other | 26,673 | 26,024 | 78,613 | 75,212 |
Other Depreciation and Amortization | 44,339 | 37,752 | 123,145 | 114,293 |
Other regulatory charges (credits) - net | 5,771 | 5,487 | 11,708 | 133,715 |
Costs and Expenses | 311,708 | 322,519 | 820,290 | 1,014,320 |
OPERATING INCOME | 87,024 | 45,215 | 163,423 | 22,846 |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 2,079 | 2,251 | 6,341 | 6,351 |
Investment Income, Net | 462 | 1 | 1,011 | 26 |
Miscellaneous - net | (1,648) | 116 | (2,238) | (1,866) |
TOTAL | 893 | 2,368 | 5,114 | 4,511 |
INTEREST EXPENSE | ||||
Interest expense | 15,922 | 13,950 | 45,804 | 41,916 |
Allowance for borrowed funds used during construction | (892) | (944) | (2,683) | (2,662) |
TOTAL | 15,030 | 13,006 | 43,121 | 39,254 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 72,887 | 34,577 | 125,416 | (11,897) |
Income taxes | 16,650 | (16,156) | 27,114 | (123,715) |
Consolidated net income | 56,237 | 50,733 | 98,302 | 111,818 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 0 | 238 | 0 | 715 |
Earnings per average common share: | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 56,237 | 50,495 | 98,302 | 111,103 |
Entergy Mississippi [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 398,732 | 367,734 | 983,713 | 1,037,166 |
Entergy Mississippi [Member] | Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Entergy Mississippi [Member] | Electricity, Purchased [Member] | ||||
Operation and Maintenance: | ||||
Cost of Goods and Services Sold | 78,286 | 104,787 | 223,461 | 289,397 |
Entergy Arkansas [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 687,526 | 568,399 | 1,776,267 | 1,614,028 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 109,779 | 164,438 | 370,534 | 379,240 |
Nuclear refueling outage expenses | 17,381 | 19,062 | 51,823 | 61,623 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 188,299 | 188,882 | 542,765 | 536,032 |
Decommissioning | 17,422 | 15,226 | 50,351 | 44,971 |
Taxes, Other | 31,783 | 27,972 | 87,327 | 80,322 |
Other Depreciation and Amortization | 78,594 | 73,579 | 231,502 | 218,261 |
Other regulatory charges (credits) - net | 1,018 | (13,758) | (8,873) | (29,378) |
Costs and Expenses | 505,350 | 533,614 | 1,481,846 | 1,486,095 |
OPERATING INCOME | 182,176 | 34,785 | 294,421 | 127,933 |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 3,977 | 3,735 | 10,777 | 12,214 |
Investment Income, Net | 8,788 | 12,060 | 19,193 | 21,352 |
Miscellaneous - net | (4,286) | (3,063) | (12,704) | (10,815) |
TOTAL | 8,479 | 12,732 | 17,266 | 22,751 |
INTEREST EXPENSE | ||||
Interest expense | 35,454 | 31,632 | 104,664 | 92,315 |
Allowance for borrowed funds used during construction | (1,641) | (1,739) | (4,384) | (5,737) |
TOTAL | 33,813 | 29,893 | 100,280 | 86,578 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 156,842 | 17,624 | 211,407 | 64,106 |
Income taxes | 7,126 | (111,266) | (27,729) | (183,595) |
Consolidated net income | 149,716 | 128,890 | 239,136 | 247,701 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 0 | 357 | 0 | 1,071 |
Earnings per average common share: | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 149,716 | 128,533 | 239,136 | 246,630 |
Entergy Arkansas [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 687,526 | 568,399 | 1,776,267 | 1,614,028 |
Entergy Arkansas [Member] | Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Entergy Arkansas [Member] | Electricity, Purchased [Member] | ||||
Operation and Maintenance: | ||||
Cost of Goods and Services Sold | 61,074 | 58,213 | 156,417 | 195,024 |
Entergy Louisiana [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,231,677 | 1,206,612 | 3,297,324 | 3,308,744 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 259,419 | 318,987 | 627,240 | 700,296 |
Nuclear refueling outage expenses | 14,026 | 12,969 | 40,225 | 38,739 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 249,773 | 239,230 | 726,496 | 724,604 |
Decommissioning | 15,606 | 13,654 | 43,544 | 39,906 |
Taxes, Other | 49,602 | 44,594 | 145,942 | 143,021 |
Other Depreciation and Amortization | 137,891 | 124,030 | 394,271 | 366,950 |
Other regulatory charges (credits) - net | (29,224) | (1,433) | (90,762) | 30,781 |
Costs and Expenses | 894,923 | 970,094 | 2,565,106 | 2,780,746 |
OPERATING INCOME | 336,754 | 236,518 | 732,218 | 527,998 |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 14,609 | 20,423 | 59,194 | 57,292 |
Investment Income, Net | 45,237 | 53,009 | 166,721 | 143,137 |
Miscellaneous - net | (15,067) | (25,782) | (79,717) | (56,217) |
TOTAL | 44,779 | 47,650 | 146,198 | 144,212 |
INTEREST EXPENSE | ||||
Interest expense | 78,350 | 73,084 | 230,684 | 216,762 |
Allowance for borrowed funds used during construction | (7,041) | (10,168) | (28,145) | (28,382) |
TOTAL | 71,309 | 62,916 | 202,539 | 188,380 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 310,224 | 221,252 | 675,877 | 483,830 |
Income taxes | 54,964 | 2,944 | 109,900 | (30,430) |
Consolidated net income | 255,260 | 218,308 | 565,977 | 514,260 |
Earnings per average common share: | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 255,260 | 218,308 | 565,977 | 514,260 |
Entergy Louisiana [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,221,874 | 1,196,278 | 3,252,826 | 3,263,073 |
Entergy Louisiana [Member] | Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 9,803 | 10,334 | 44,498 | 45,671 |
Entergy Louisiana [Member] | Electricity, Purchased [Member] | ||||
Operation and Maintenance: | ||||
Cost of Goods and Services Sold | 197,830 | 218,063 | 678,150 | 736,449 |
Entergy New Orleans [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 194,204 | 200,182 | 533,191 | 566,903 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 27,013 | 54,754 | 84,963 | 93,859 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 32,755 | 30,593 | 95,305 | 87,312 |
Taxes, Other | 15,142 | 15,551 | 41,819 | 43,534 |
Other Depreciation and Amortization | 14,756 | 14,059 | 43,146 | 41,756 |
Other regulatory charges (credits) - net | 7,571 | 5,853 | 9,716 | 18,313 |
Costs and Expenses | 165,328 | 178,638 | 470,670 | 499,547 |
OPERATING INCOME | 28,876 | 21,544 | 62,521 | 67,356 |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 2,793 | 1,694 | 7,769 | 3,762 |
Investment Income, Net | 109 | 30 | 352 | 330 |
Miscellaneous - net | (1,019) | (660) | (3,467) | (2,401) |
TOTAL | 1,883 | 1,064 | 4,654 | 1,691 |
INTEREST EXPENSE | ||||
Interest expense | 6,046 | 5,388 | 18,001 | 15,936 |
Allowance for borrowed funds used during construction | (1,115) | (626) | (3,102) | (1,390) |
TOTAL | 4,931 | 4,762 | 14,899 | 14,546 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 25,828 | 17,846 | 52,276 | 54,501 |
Income taxes | 920 | (3,561) | 5,342 | 3,943 |
Consolidated net income | 24,908 | 21,407 | 46,934 | 50,558 |
Entergy New Orleans [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 176,738 | 184,164 | 464,773 | 499,584 |
Entergy New Orleans [Member] | Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17,466 | 16,018 | 68,418 | 67,319 |
Entergy New Orleans [Member] | Electricity, Purchased [Member] | ||||
Operation and Maintenance: | ||||
Cost of Goods and Services Sold | 68,091 | 57,828 | 195,721 | 214,773 |
Entergy Texas [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 442,877 | 477,231 | 1,146,931 | 1,229,657 |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 64,211 | 79,130 | 129,285 | 154,925 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 69,937 | 58,795 | 190,989 | 171,317 |
Taxes, Other | 20,870 | 20,752 | 60,773 | 61,461 |
Other Depreciation and Amortization | 38,722 | 31,365 | 113,071 | 93,272 |
Other regulatory charges (credits) - net | 27,662 | 33,550 | 66,574 | 85,064 |
Costs and Expenses | 373,367 | 377,265 | 1,024,658 | 1,029,972 |
OPERATING INCOME | 69,510 | 99,966 | 122,273 | 199,685 |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 7,454 | 2,222 | 18,948 | 5,716 |
Investment Income, Net | 486 | 601 | 2,542 | 1,698 |
Miscellaneous - net | 115 | 468 | 980 | (154) |
TOTAL | 8,055 | 3,291 | 22,470 | 7,260 |
INTEREST EXPENSE | ||||
Interest expense | 21,379 | 21,760 | 63,992 | 65,646 |
Allowance for borrowed funds used during construction | (3,534) | (1,253) | (9,370) | (3,224) |
TOTAL | 17,845 | 20,507 | 54,622 | 62,422 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 59,720 | 82,750 | 90,121 | 144,523 |
Income taxes | (13,504) | 16,904 | (43,381) | 30,538 |
Consolidated net income | 73,224 | 65,846 | 133,502 | 113,985 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 110 | 0 | 110 | 0 |
Earnings per average common share: | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 73,114 | 65,846 | 133,392 | 113,985 |
Entergy Texas [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 442,877 | 477,231 | 1,146,931 | 1,229,657 |
Entergy Texas [Member] | Natural Gas, US Regulated [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Entergy Texas [Member] | Electricity, Purchased [Member] | ||||
Operation and Maintenance: | ||||
Cost of Goods and Services Sold | 151,965 | 153,673 | 463,966 | 463,933 |
System Energy [Member] | ||||
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 23,748 | 14,484 | 66,335 | 44,939 |
Nuclear refueling outage expenses | 8,412 | 5,906 | 25,013 | 12,698 |
Utilities Operating Expense, Maintenance, Operations, and Other Costs and Expenses | 49,533 | 48,969 | 147,283 | 143,003 |
Decommissioning | 8,976 | 8,626 | 26,663 | 25,624 |
Taxes, Other | 7,120 | 7,106 | 21,835 | 21,069 |
Other Depreciation and Amortization | 26,613 | 4,355 | 79,761 | 71,143 |
Other regulatory charges (credits) - net | (8,016) | 7,398 | (27,059) | (15,080) |
Costs and Expenses | 116,386 | 96,844 | 339,831 | 303,396 |
OPERATING INCOME | 29,086 | (17,879) | 84,754 | 36,468 |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 2,251 | 2,028 | 5,518 | 7,032 |
Investment Income, Net | 8,215 | 23,738 | 21,577 | 33,567 |
Miscellaneous - net | (1,300) | (1,421) | (4,018) | (4,391) |
TOTAL | 9,166 | 24,345 | 23,077 | 36,208 |
INTEREST EXPENSE | ||||
Interest expense | 8,546 | 9,753 | 26,467 | 28,734 |
Allowance for borrowed funds used during construction | (551) | (515) | (1,350) | (1,783) |
TOTAL | 7,995 | 9,238 | 25,117 | 26,951 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 30,257 | (2,772) | 82,714 | 45,725 |
Income taxes | 5,226 | (25,744) | 9,633 | (22,942) |
Consolidated net income | 25,031 | 22,972 | 73,081 | 68,667 |
Earnings per average common share: | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 25,031 | 22,972 | 73,081 | 68,667 |
System Energy [Member] | Electricity [Member] | ||||
REVENUES | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 145,472 | $ 78,965 | $ 424,585 | $ 339,864 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Proceeds from Sale of Productive Assets | $ 19,801 | $ 12,915 |
OPERATING ACTIVITIES | ||
Consolidated net income | 868,639 | 924,877 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 1,634,677 | 1,517,344 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 373,723 | 82,641 |
Impairment of Long-Lived Assets Held-for-use | 225,175 | 210,263 |
Changes in working capital: | ||
Receivables | (231,005) | (153,703) |
Fuel inventory | (14,399) | 49,728 |
Accounts payable | (175,246) | 79,949 |
Taxes accrued | (2,420) | 43,510 |
Interest accrued | (2,314) | (9,398) |
Deferred fuel costs | 90,319 | (25,284) |
Other working capital accounts | (19,232) | (86,063) |
Changes in provisions for estimated losses | 14,114 | 28,599 |
Changes in other regulatory assets | (92,861) | 207,135 |
Increase (Decrease) in Regulatory Liabilities | (19,115) | (413,684) |
Changes in pensions and other postretirement liabilities | (132,044) | (345,526) |
Other Noncash Income (Expense) | (400,064) | (250,884) |
Net cash flow provided by operating activities | 2,117,947 | 1,859,504 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (3,079,726) | (2,883,047) |
Allowance for equity funds used during construction | 108,867 | 92,829 |
Nuclear fuel purchases | (55,176) | (170,819) |
Payments for Nuclear Fuel | (55,176) | (170,819) |
Payments to storm reserve escrow account | (6,184) | (4,515) |
Decrease (increase) in other investments | 30,370 | (36,140) |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 2,369 | 0 |
Proceeds from nuclear decommissioning trust fund sales | 3,518,616 | 4,177,919 |
Investment in nuclear decommissioning trust funds | (3,566,690) | (4,187,161) |
Proceeds from insurance | 7,040 | 10,523 |
Changes in securitization account | (4,213) | (12,985) |
Net cash flow used in investing activities | (3,024,926) | (3,000,481) |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | 7,133,571 | 5,604,131 |
Proceeds from Issuance of Preferred Stock and Preference Stock | 33,486 | 0 |
Common stock and treasury stock | 89,303 | 24,646 |
Proceeds from Issuance of Common Stock | 607,650 | 0 |
Retirement of long-term debt | (5,859,714) | (4,181,820) |
Changes in credit borrowings and commercial paper - net | (24,550) | 368,370 |
Payments for Repurchase of Preferred Stock and Preference Stock | 50,000 | 0 |
Dividends paid: | ||
Common stock | (526,408) | (482,865) |
Preferred stock | (12,328) | (10,317) |
Other | (9,175) | 25,540 |
Net cash flow provided by financing activities | 1,381,835 | 1,347,685 |
Net increase in cash and cash equivalents | 474,856 | 206,708 |
Cash and cash equivalents at beginning of period | 480,975 | 781,273 |
Cash and cash equivalents at end of period | 955,831 | 987,981 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 584,622 | 558,381 |
Income taxes | (8,649) | 18,200 |
Entergy Arkansas [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 239,136 | 247,701 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 351,390 | 335,939 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 85,246 | 28,463 |
Changes in working capital: | ||
Receivables | (70,395) | (33,422) |
Fuel inventory | (5,350) | 7,523 |
Accounts payable | (24,766) | (20,904) |
Taxes accrued | (18,608) | 30,686 |
Interest accrued | 20,206 | 13,558 |
Deferred fuel costs | 52,468 | 24,463 |
Other working capital accounts | 44,803 | (8,827) |
Changes in provisions for estimated losses | 8,841 | 10,013 |
Changes in other regulatory assets | (55,749) | 22,574 |
Increase (Decrease) in Regulatory Liabilities | 32,537 | (218,518) |
Changes in pensions and other postretirement liabilities | (26,136) | (64,461) |
Other Noncash Income (Expense) | (57,011) | (12,203) |
Net cash flow provided by operating activities | 576,612 | 362,585 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (488,487) | (517,882) |
Allowance for equity funds used during construction | 11,016 | 12,572 |
Change in money pool receivable - net | (6,896) | (13,421) |
Nuclear fuel purchases | (26,732) | (79,142) |
Payments for Nuclear Fuel | (26,732) | (79,142) |
Proceeds from sale of nuclear fuel | 22,834 | 31,897 |
Change in other investments | (1) | 1 |
Proceeds from nuclear decommissioning trust fund sales | 199,031 | 259,331 |
Investment in nuclear decommissioning trust funds | (214,205) | (269,913) |
Proceeds from insurance | 0 | 7,043 |
Changes in securitization account | (3,238) | (4,821) |
Net cash flow used in investing activities | (506,676) | (574,337) |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | 781,510 | 658,427 |
Retirement of long-term debt | (473,827) | (372,447) |
Change in money pool payable - net | (182,738) | (166,137) |
Changes in credit borrowings and commercial paper - net | 0 | (49,974) |
Dividends paid: | ||
Common stock | (115,000) | 0 |
Preferred stock | 0 | (1,071) |
Other | (2,931) | 8,520 |
Net cash flow provided by financing activities | 7,014 | 427,318 |
Net increase in cash and cash equivalents | 76,950 | 215,566 |
Cash and cash equivalents at beginning of period | 119 | 6,216 |
Cash and cash equivalents at end of period | 77,069 | 221,782 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 80,644 | 74,966 |
Proceeds from Contributions from Parent | 0 | 350,000 |
Entergy Louisiana [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 565,977 | 514,260 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 498,397 | 490,638 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 174,825 | 167,603 |
Changes in working capital: | ||
Receivables | (72,018) | (61,281) |
Fuel inventory | (1,752) | 6,120 |
Accounts payable | (40,131) | (20,481) |
Taxes accrued | 78,910 | (22,893) |
Interest accrued | 5,102 | 2,382 |
Deferred fuel costs | (11,459) | (25,781) |
Other working capital accounts | (62,332) | (5,086) |
Changes in provisions for estimated losses | 9,748 | 7,800 |
Changes in other regulatory assets | (103,635) | 49,245 |
Increase (Decrease) in Regulatory Liabilities | (26,115) | (29,943) |
Changes in pensions and other postretirement liabilities | (15,761) | (59,305) |
Other Noncash Income (Expense) | (37,313) | (69,978) |
Net cash flow provided by operating activities | 962,443 | 943,300 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (1,277,108) | (1,322,633) |
Allowance for equity funds used during construction | 59,194 | 57,292 |
Change in money pool receivable - net | 35,485 | (2,444) |
Nuclear fuel purchases | (63,157) | (32,362) |
Payments for Nuclear Fuel | (63,157) | (32,362) |
Proceeds from sale of nuclear fuel | 11,608 | 54,088 |
Payments to storm reserve escrow account | (5,013) | (3,297) |
Proceeds from nuclear decommissioning trust fund sales | 307,164 | 943,306 |
Investment in nuclear decommissioning trust funds | (331,138) | (973,218) |
Proceeds from insurance | 7,040 | 3,480 |
Changes in securitization account | (6,467) | (8,056) |
Payment For Proceed From Other Investing Activities | 2,369 | 0 |
Net cash flow used in investing activities | (1,260,023) | (1,283,844) |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | 2,332,003 | 1,950,482 |
Retirement of long-term debt | (1,798,014) | (1,338,227) |
Changes in credit borrowings and commercial paper - net | 0 | (43,540) |
Dividends paid: | ||
Common stock | (155,000) | (56,000) |
Other | 3,272 | 5,507 |
Net cash flow provided by financing activities | 382,261 | 518,222 |
Net increase in cash and cash equivalents | 84,681 | 177,678 |
Cash and cash equivalents at beginning of period | 43,364 | 35,907 |
Cash and cash equivalents at end of period | 128,045 | 213,585 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 219,323 | 208,028 |
Income taxes | 0 | (2,973) |
Entergy Mississippi [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 98,302 | 111,818 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 123,145 | 114,293 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 32,596 | 40,537 |
Changes in working capital: | ||
Receivables | (37,843) | (49,456) |
Fuel inventory | (3,872) | 33,705 |
Accounts payable | (574) | (9,845) |
Taxes accrued | (26,556) | (24,280) |
Interest accrued | 2,093 | (4,767) |
Deferred fuel costs | 47,569 | 9,826 |
Other working capital accounts | 533 | (8,348) |
Changes in provisions for estimated losses | (3,099) | 7,894 |
Changes in other regulatory assets | (923) | 26,060 |
Increase (Decrease) in Regulatory Liabilities | (16,615) | (139,063) |
Changes in pensions and other postretirement liabilities | (6,930) | (15,987) |
Other Noncash Income (Expense) | (4,387) | 125,637 |
Net cash flow provided by operating activities | 203,439 | 218,024 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (314,622) | (275,189) |
Allowance for equity funds used during construction | 6,341 | 6,351 |
Change in money pool receivable - net | 32,481 | 1,633 |
Decrease (increase) in other investments | (507) | (960) |
Net cash flow used in investing activities | (276,307) | (268,165) |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | 292,763 | 0 |
Retirement of long-term debt | (150,000) | 0 |
Change in money pool payable - net | 0 | 33,816 |
Dividends paid: | ||
Preferred stock | 0 | (715) |
Other | (7,913) | 10,989 |
Net cash flow provided by financing activities | 134,850 | 44,090 |
Net increase in cash and cash equivalents | 61,982 | (6,051) |
Cash and cash equivalents at beginning of period | 36,954 | 6,096 |
Cash and cash equivalents at end of period | 98,936 | 45 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 41,753 | 44,781 |
Entergy New Orleans [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 46,934 | 50,558 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 43,146 | 41,756 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 20,427 | 25,605 |
Changes in working capital: | ||
Receivables | (14,741) | (15,310) |
Fuel inventory | (374) | 495 |
Accounts payable | (11,654) | 8,868 |
Taxes accrued | 242 | (8,743) |
Interest accrued | 14 | 564 |
Deferred fuel costs | 8,328 | (59) |
Other working capital accounts | (8,737) | (5,062) |
Changes in provisions for estimated losses | 1,423 | 417 |
Changes in other regulatory assets | (14,435) | 19,068 |
Increase (Decrease) in Regulatory Liabilities | (15,371) | (5,353) |
Changes in pensions and other postretirement liabilities | (5,784) | (12,956) |
Other Noncash Income (Expense) | 28,015 | 479 |
Net cash flow provided by operating activities | 77,433 | 100,327 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (162,177) | (142,585) |
Allowance for equity funds used during construction | 7,769 | 3,762 |
Change in money pool receivable - net | 22,016 | 10,607 |
Payments to storm reserve escrow account | (1,382) | (905) |
Receipts from storm reserve escrow account | 0 | 3 |
Changes in securitization account | (3,043) | (4,115) |
Net cash flow used in investing activities | (136,817) | (133,233) |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | 0 | 59,590 |
Retirement of long-term debt | (5,420) | (5,342) |
Change in money pool payable - net | 46,318 | 0 |
Dividends paid: | ||
Common stock | 0 | (23,750) |
Other | (1,165) | 2,587 |
Net cash flow provided by financing activities | 39,733 | 33,085 |
Net increase in cash and cash equivalents | (19,651) | 179 |
Cash and cash equivalents at beginning of period | 19,677 | 32,741 |
Cash and cash equivalents at end of period | 26 | 32,920 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 17,211 | 14,584 |
Income taxes | (4,899) | 0 |
Entergy Texas [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 133,502 | 113,985 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 113,071 | 93,272 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 21,898 | 640 |
Changes in working capital: | ||
Receivables | 21,578 | (40,287) |
Fuel inventory | (1,476) | 1,045 |
Accounts payable | (58,792) | (12,864) |
Taxes accrued | 3,545 | 24,476 |
Interest accrued | (11,478) | (6,084) |
Deferred fuel costs | (6,588) | (33,734) |
Other working capital accounts | (13,740) | 891 |
Changes in provisions for estimated losses | (3,470) | 1,006 |
Changes in other regulatory assets | 63,793 | 64,311 |
Increase (Decrease) in Regulatory Liabilities | (83,674) | 15,313 |
Changes in pensions and other postretirement liabilities | (7,209) | (20,999) |
Other Noncash Income (Expense) | 3,921 | (3,294) |
Net cash flow provided by operating activities | 174,881 | 197,677 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (622,342) | (291,118) |
Allowance for equity funds used during construction | 19,029 | 5,820 |
Proceeds from Sale of Other Assets, Investing Activities | 0 | 3,753 |
Change in money pool receivable - net | (8,299) | 43,686 |
Changes in securitization account | 8,535 | 4,009 |
Net cash flow used in investing activities | (603,077) | (233,850) |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | 986,477 | 0 |
Proceeds from Issuance of Preferred Stock and Preference Stock | 33,486 | 0 |
Retirement of long-term debt | (563,246) | (60,500) |
Change in money pool payable - net | (22,389) | 0 |
Dividends paid: | ||
Other | (1,410) | 1,657 |
Net cash flow provided by financing activities | 520,418 | (58,843) |
Net increase in cash and cash equivalents | 92,222 | (95,016) |
Cash and cash equivalents at beginning of period | 56 | 115,513 |
Cash and cash equivalents at end of period | 92,278 | 20,497 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | 73,752 | 69,669 |
Income taxes | 2,292 | (624) |
Proceeds from Contributions from Parent | 87,500 | 0 |
System Energy [Member] | ||
OPERATING ACTIVITIES | ||
Consolidated net income | 73,081 | 68,667 |
Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: | ||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 163,069 | 133,877 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | (2,426) | 14,159 |
Changes in working capital: | ||
Receivables | (7,456) | 20,806 |
Accounts payable | 2,935 | 22,637 |
Taxes accrued | 14,579 | (1,017) |
Interest accrued | (1,478) | 2,311 |
Other working capital accounts | 3,411 | (52,524) |
Changes in other regulatory assets | (9,121) | (4,773) |
Increase (Decrease) in Regulatory Liabilities | 90,118 | (36,119) |
Changes in pensions and other postretirement liabilities | (5,013) | (11,629) |
Other Noncash Income (Expense) | (97,024) | (24,839) |
Net cash flow provided by operating activities | 224,675 | 131,556 |
INVESTING ACTIVITIES | ||
Construction/capital expenditures | (92,228) | (166,458) |
Allowance for equity funds used during construction | 5,518 | 7,032 |
Change in money pool receivable - net | 92,347 | 95,302 |
Nuclear fuel purchases | (2,046) | (110,485) |
Payments for Nuclear Fuel | (2,046) | (110,485) |
Proceeds from sale of nuclear fuel | 26,272 | 12,867 |
Proceeds from nuclear decommissioning trust fund sales | 348,606 | 357,209 |
Investment in nuclear decommissioning trust funds | (362,573) | (365,040) |
Net cash flow used in investing activities | 15,896 | (169,573) |
Proceeds from the issuance of: | ||
Proceeds from the issuance of long-term debt | 1,007,775 | 211,985 |
Retirement of long-term debt | (1,069,206) | (124,304) |
Changes in credit borrowings and commercial paper - net | 0 | (17,830) |
Dividends paid: | ||
Common stock | (110,500) | (64,480) |
Net cash flow provided by financing activities | (171,931) | 5,371 |
Net increase in cash and cash equivalents | 68,640 | (32,646) |
Cash and cash equivalents at beginning of period | 95,685 | 287,187 |
Cash and cash equivalents at end of period | 164,325 | 254,541 |
Cash paid / (received) during the period for: | ||
Interest - net of amount capitalized | $ 21,052 | $ 10,308 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Cash and cash equivalents: | ||||
Cash | $ 70,395 | $ 56,690 | ||
Temporary cash investments | 885,436 | 424,285 | ||
Total cash and cash equivalents | 955,831 | 480,975 | $ 987,981 | $ 781,273 |
Securitization recovery trust account | 55,000 | 51,000 | ||
Accounts receivable: | ||||
Customer | 732,763 | 558,494 | ||
Allowance for doubtful accounts | (7,987) | (7,322) | ||
Other | 132,547 | 167,722 | ||
Accrued unbilled revenues | 481,048 | 395,511 | ||
Total accounts receivable | 1,338,371 | 1,114,405 | ||
Deferred fuel costs | 0 | 27,251 | ||
Fuel inventory - at average cost | 131,703 | 117,304 | ||
Public Utilities, Inventory | 803,843 | 752,843 | ||
Deferred nuclear refueling outage costs | 173,229 | 230,960 | ||
Prepaid Expense and Other Assets, Current | 258,695 | 234,326 | ||
TOTAL | 3,661,672 | 2,958,064 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Decommissioning trust funds | 6,128,647 | 6,920,164 | ||
Non-utility property - at cost (less accumulated depreciation) | 326,704 | 304,382 | ||
Other | 448,140 | 437,265 | ||
TOTAL | 6,903,491 | 7,661,811 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 52,705,142 | 49,831,486 | ||
Natural gas | 533,217 | 496,150 | ||
Construction work in progress | 2,871,054 | 2,888,639 | ||
Nuclear fuel | 707,198 | 861,272 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 56,816,611 | 54,077,547 | ||
Less - accumulated depreciation and amortization | 22,695,886 | 22,103,101 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 34,120,725 | 31,974,446 | ||
Regulatory assets: | ||||
Other regulatory assets | 4,839,357 | 4,746,496 | ||
Deferred Fuel Cost Non Current | 239,793 | 239,496 | ||
Goodwill | 377,172 | 377,172 | ||
Deferred Income Tax Assets, Net | 67,438 | 54,593 | ||
Other | 296,620 | 262,988 | ||
Deferred Costs and Other Assets | 5,820,380 | 5,680,745 | ||
TOTAL ASSETS | 50,506,268 | 48,275,066 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 520,012 | 650,009 | ||
Short-term borrowings | 1,917,788 | 1,942,339 | ||
Accounts payable | 1,328,631 | 1,496,058 | ||
Customer deposits | 409,090 | 411,505 | ||
Taxes Payable, Current | 251,821 | 254,241 | ||
Interest accrued | 190,877 | 193,192 | ||
Deferred fuel costs | 115,761 | 52,396 | ||
Pension and other postretirement liabilities | 57,374 | 61,240 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 117,575 | 248,127 | ||
Other | 194,117 | 134,437 | ||
TOTAL | 5,103,046 | 5,443,544 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 4,552,456 | 4,107,152 | ||
Accumulated deferred investment tax credits | 206,837 | 213,101 | ||
Regulatory liability for income taxes - net | 1,677,707 | 1,817,021 | ||
Other regulatory liabilities | 1,871,005 | 1,620,254 | ||
Decommissioning and asset retirement cost liabilities | 6,068,323 | 6,355,543 | ||
Loss Contingency Accrual | 528,172 | 514,107 | ||
Pension and other postretirement liabilities | 2,487,906 | 2,616,085 | ||
Long-term debt | 16,938,014 | 15,518,303 | ||
Deferred Credits and Other Liabilities | 783,330 | 1,006,249 | ||
TOTAL | 35,113,750 | 33,767,815 | ||
Subsidiaries' preferred stock without sinking fund | 219,411 | 219,402 | ||
Common Shareholders' Equity: | ||||
Common Stock, Value, Issued | 2,700 | 2,616 | ||
Additional Paid in Capital, Common Stock | 6,553,009 | 5,951,431 | ||
Accumulated other comprehensive loss | (419,772) | (557,173) | (632,126) | (23,531) |
Less - treasury stock, at cost | 5,158,625 | 5,273,719 | ||
TOTAL | 10,035,061 | 8,844,305 | ||
Stockholders' Equity Attributable to Noncontrolling Interest | 35,000 | 0 | ||
Retained Earnings (Accumulated Deficit) | 9,057,749 | 8,721,150 | ||
TOTAL | 10,070,061 | 8,844,305 | 8,412,712 | 7,992,515 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 50,506,268 | 48,275,066 | ||
Entergy Arkansas [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 410 | 118 | ||
Temporary cash investments | 76,659 | 1 | ||
Total cash and cash equivalents | 77,069 | 119 | 221,782 | 6,216 |
Securitization recovery trust account | 7,904 | 4,666 | ||
Accounts receivable: | ||||
Customer | 160,955 | 94,348 | ||
Allowance for doubtful accounts | (1,423) | (1,264) | ||
Associated companies | 45,499 | 48,184 | ||
Other | 48,569 | 64,393 | ||
Accrued unbilled revenues | 137,444 | 108,092 | ||
Total accounts receivable | 391,044 | 313,753 | ||
Deferred fuel costs | 0 | 19,235 | ||
Fuel inventory - at average cost | 28,498 | 23,148 | ||
Public Utilities, Inventory | 207,541 | 196,314 | ||
Deferred nuclear refueling outage costs | 33,581 | 78,966 | ||
Prepaid Expense and Other Assets, Current | 17,447 | 14,553 | ||
TOTAL | 763,084 | 650,754 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Decommissioning trust funds | 1,045,826 | 912,049 | ||
Other | 5,476 | 5,480 | ||
TOTAL | 1,051,302 | 917,529 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 12,041,822 | 11,611,041 | ||
Construction work in progress | 299,195 | 243,731 | ||
Nuclear fuel | 186,731 | 220,602 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 12,527,748 | 12,075,374 | ||
Less - accumulated depreciation and amortization | 4,985,276 | 4,864,818 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 7,542,472 | 7,210,556 | ||
Regulatory assets: | ||||
Other regulatory assets | 1,590,726 | 1,534,977 | ||
Deferred Fuel Cost Non Current | 67,591 | 67,294 | ||
Other | 21,441 | 20,486 | ||
Deferred Costs and Other Assets | 1,679,758 | 1,622,757 | ||
TOTAL ASSETS | 11,036,616 | 10,401,596 | ||
CURRENT LIABILITIES | ||||
Associated companies accounts payable | 55,971 | 251,768 | ||
Accounts payable | 195,783 | 187,387 | ||
Customer deposits | 101,349 | 99,053 | ||
Taxes Payable, Current | 38,281 | 56,889 | ||
Interest accrued | 39,099 | 18,893 | ||
Deferred fuel costs | 33,530 | 0 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 33,692 | 99,316 | ||
Other | 48,516 | 23,943 | ||
TOTAL | 546,221 | 737,249 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 1,172,542 | 1,085,545 | ||
Accumulated deferred investment tax credits | 32,002 | 32,903 | ||
Regulatory liability for income taxes - net | 480,573 | 505,748 | ||
Other regulatory liabilities | 526,004 | 402,668 | ||
Decommissioning and asset retirement cost liabilities | 1,224,936 | 1,048,428 | ||
Loss Contingency Accrual | 57,820 | 48,979 | ||
Pension and other postretirement liabilities | 287,086 | 313,295 | ||
Long-term debt | 3,538,384 | 3,225,759 | ||
Deferred Credits and Other Liabilities | 63,809 | 17,919 | ||
TOTAL | 7,383,156 | 6,681,244 | ||
Common Shareholders' Equity: | ||||
Members' Equity | 3,107,239 | 2,983,103 | ||
TOTAL | 3,107,239 | 2,983,103 | 2,973,384 | 2,376,754 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 11,036,616 | 10,401,596 | ||
Entergy Louisiana [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 224 | 252 | ||
Temporary cash investments | 127,821 | 43,112 | ||
Total cash and cash equivalents | 128,045 | 43,364 | 213,585 | 35,907 |
Securitization recovery trust account | 10,100 | 3,600 | ||
Accounts receivable: | ||||
Customer | 258,090 | 199,903 | ||
Allowance for doubtful accounts | (2,154) | (1,813) | ||
Associated companies | 81,906 | 123,363 | ||
Other | 46,282 | 60,879 | ||
Accrued unbilled revenues | 194,753 | 167,052 | ||
Total accounts receivable | 578,877 | 549,384 | ||
Fuel inventory - at average cost | 36,170 | 34,418 | ||
Public Utilities, Inventory | 344,207 | 324,627 | ||
Deferred nuclear refueling outage costs | 70,456 | 24,406 | ||
Prepaid Expense and Other Assets, Current | 47,519 | 38,715 | ||
TOTAL | 1,205,274 | 1,014,914 | ||
Investments in and Advances to Affiliates, at Fair Value | 1,390,587 | 1,390,587 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Decommissioning trust funds | 1,485,569 | 1,284,996 | ||
Non-utility property - at cost (less accumulated depreciation) | 308,095 | 286,555 | ||
Storm Reserve Escrow Account | 294,538 | 289,525 | ||
Other | 13,923 | 14,927 | ||
TOTAL | 3,492,712 | 3,266,590 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 22,283,456 | 20,532,312 | ||
Natural gas | 230,416 | 211,421 | ||
Construction work in progress | 1,325,784 | 1,864,582 | ||
Nuclear fuel | 291,404 | 298,022 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 24,131,060 | 22,906,337 | ||
Less - accumulated depreciation and amortization | 9,018,154 | 8,837,596 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 15,112,906 | 14,068,741 | ||
Regulatory assets: | ||||
Other regulatory assets | 1,208,712 | 1,105,077 | ||
Deferred Fuel Cost Non Current | 168,122 | 168,122 | ||
Other | 27,297 | 28,371 | ||
Deferred Costs and Other Assets | 1,404,131 | 1,301,570 | ||
TOTAL ASSETS | 21,215,023 | 19,651,815 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 70,002 | 2 | ||
Associated companies accounts payable | 86,781 | 102,749 | ||
Accounts payable | 338,724 | 390,367 | ||
Customer deposits | 152,627 | 155,314 | ||
Taxes Payable, Current | 109,778 | 30,868 | ||
Interest accrued | 88,552 | 83,450 | ||
Deferred fuel costs | 19,952 | 31,411 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 33,231 | 31,457 | ||
Other | 71,608 | 49,202 | ||
TOTAL | 971,255 | 874,820 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 2,414,508 | 2,226,721 | ||
Accumulated deferred investment tax credits | 113,346 | 116,999 | ||
Regulatory liability for income taxes - net | 523,697 | 581,001 | ||
Other regulatory liabilities | 778,199 | 748,784 | ||
Decommissioning and asset retirement cost liabilities | 1,478,951 | 1,280,272 | ||
Loss Contingency Accrual | 320,503 | 310,755 | ||
Pension and other postretirement liabilities | 627,155 | 643,171 | ||
Long-term debt | 7,274,158 | 6,805,766 | ||
Deferred Credits and Other Liabilities | 402,296 | 160,608 | ||
TOTAL | 13,932,813 | 12,874,077 | ||
Common Shareholders' Equity: | ||||
Accumulated other comprehensive loss | (9,060) | (6,153) | ||
Members' Equity | 6,320,015 | 5,909,071 | ||
TOTAL | 6,310,955 | 5,902,918 | 5,761,778 | 5,308,804 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 21,215,023 | 19,651,815 | ||
Entergy Mississippi [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 11 | 11 | ||
Temporary cash investments | 98,925 | 36,943 | ||
Total cash and cash equivalents | 98,936 | 36,954 | 45 | 6,096 |
Accounts receivable: | ||||
Customer | 98,245 | 73,205 | ||
Allowance for doubtful accounts | (615) | (563) | ||
Associated companies | 19,217 | 51,065 | ||
Other | 10,173 | 8,647 | ||
Accrued unbilled revenues | 60,867 | 50,171 | ||
Total accounts receivable | 187,887 | 182,525 | ||
Deferred fuel costs | 0 | 8,016 | ||
Fuel inventory - at average cost | 15,803 | 11,931 | ||
Public Utilities, Inventory | 51,049 | 47,255 | ||
Prepaid Expense and Other Assets, Current | 8,694 | 9,365 | ||
TOTAL | 362,369 | 296,046 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Non-utility property - at cost (less accumulated depreciation) | 4,564 | 4,576 | ||
Escrow accounts | 32,953 | 32,447 | ||
TOTAL | 37,517 | 37,023 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 4,981,082 | 4,780,720 | ||
Construction work in progress | 177,221 | 128,149 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 5,158,303 | 4,908,869 | ||
Less - accumulated depreciation and amortization | 1,681,597 | 1,641,821 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 3,476,706 | 3,267,048 | ||
Regulatory assets: | ||||
Other regulatory assets | 343,972 | 343,049 | ||
Other | 12,161 | 3,638 | ||
Deferred Costs and Other Assets | 356,133 | 346,687 | ||
TOTAL ASSETS | 4,232,725 | 3,946,804 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 0 | 150,000 | ||
Associated companies accounts payable | 41,323 | 42,928 | ||
Accounts payable | 81,260 | 79,117 | ||
Customer deposits | 86,295 | 85,085 | ||
Taxes Payable, Current | 50,996 | 77,552 | ||
Interest accrued | 22,324 | 20,231 | ||
Deferred fuel costs | 39,553 | 0 | ||
Other | 17,717 | 7,526 | ||
TOTAL | 339,468 | 462,439 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 591,105 | 551,869 | ||
Accumulated deferred investment tax credits | 10,066 | 10,186 | ||
Regulatory liability for income taxes - net | 239,630 | 246,402 | ||
Other regulatory liabilities | 23,779 | 33,622 | ||
Decommissioning and asset retirement cost liabilities | 9,594 | 9,206 | ||
Loss Contingency Accrual | 48,043 | 51,142 | ||
Pension and other postretirement liabilities | 86,036 | 93,100 | ||
Long-term debt | 1,469,454 | 1,175,750 | ||
Deferred Credits and Other Liabilities | 25,022 | 20,862 | ||
TOTAL | 2,502,729 | 2,192,139 | ||
Common Shareholders' Equity: | ||||
Members' Equity | 1,390,528 | 1,292,226 | ||
TOTAL | 1,390,528 | 1,292,226 | 1,288,973 | 1,177,870 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 4,232,725 | 3,946,804 | ||
Entergy New Orleans [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 26 | 26 | ||
Temporary cash investments | 0 | 19,651 | ||
Total cash and cash equivalents | 26 | 19,677 | 32,920 | 32,741 |
Securitization recovery trust account | 5,268 | 2,224 | ||
Accounts receivable: | ||||
Customer | 57,173 | 43,890 | ||
Allowance for doubtful accounts | (3,116) | (3,222) | ||
Associated companies | 2,541 | 27,938 | ||
Other | 4,954 | 4,090 | ||
Accrued unbilled revenues | 22,776 | 18,907 | ||
Total accounts receivable | 84,328 | 91,603 | ||
Fuel inventory - at average cost | 1,907 | 1,533 | ||
Public Utilities, Inventory | 12,865 | 12,133 | ||
Prepaid Expense and Other Assets, Current | 10,655 | 6,905 | ||
TOTAL | 115,049 | 134,075 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Non-utility property - at cost (less accumulated depreciation) | 1,016 | 1,016 | ||
Storm Reserve Escrow Account | 82,236 | 80,853 | ||
TOTAL | 83,252 | 81,869 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 1,430,352 | 1,364,091 | ||
Natural gas | 302,801 | 284,728 | ||
Construction work in progress | 196,842 | 146,668 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 1,929,995 | 1,795,487 | ||
Less - accumulated depreciation and amortization | 699,525 | 670,135 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 1,230,470 | 1,125,352 | ||
Regulatory assets: | ||||
Other regulatory assets | 244,231 | 229,796 | ||
Deferred Fuel Cost Non Current | 4,080 | 4,080 | ||
Other | 1,749 | 1,416 | ||
Deferred Costs and Other Assets | 250,060 | 235,292 | ||
TOTAL ASSETS | 1,678,831 | 1,576,588 | ||
CURRENT LIABILITIES | ||||
Notes Payable, Related Parties, Current | 1,979 | 1,979 | ||
Associated companies accounts payable | 85,485 | 43,416 | ||
Accounts payable | 37,394 | 36,686 | ||
Customer deposits | 28,515 | 28,667 | ||
Taxes Payable, Current | 4,310 | 4,068 | ||
Interest accrued | 6,380 | 6,366 | ||
Deferred fuel costs | 9,616 | 1,288 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 15,439 | 25,301 | ||
Other | 7,182 | 9,521 | ||
TOTAL | 196,300 | 157,292 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 349,600 | 323,595 | ||
Accumulated deferred investment tax credits | 2,153 | 2,219 | ||
Regulatory liability for income taxes - net | 52,705 | 60,249 | ||
Decommissioning and asset retirement cost liabilities | 3,463 | 3,291 | ||
Loss Contingency Accrual | 88,017 | 86,594 | ||
Long-term debt | 462,273 | 467,358 | ||
Notes Payable, Related Parties, Noncurrent | 14,367 | 14,367 | ||
Deferred Credits and Other Liabilities | 18,069 | 16,673 | ||
TOTAL | 990,647 | 974,346 | ||
Common Shareholders' Equity: | ||||
Members' Equity | 491,884 | 444,950 | ||
TOTAL | 491,884 | 444,950 | 442,356 | 415,548 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 1,678,831 | 1,576,588 | ||
Entergy Texas [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 25 | 26 | ||
Temporary cash investments | 92,253 | 30 | ||
Total cash and cash equivalents | 92,278 | 56 | 20,497 | 115,513 |
Securitization recovery trust account | 31,649 | 40,185 | ||
Accounts receivable: | ||||
Customer | 88,557 | 69,714 | ||
Allowance for doubtful accounts | (680) | (461) | ||
Associated companies | 24,124 | 64,441 | ||
Other | 6,770 | 12,275 | ||
Accrued unbilled revenues | 65,207 | 51,288 | ||
Total accounts receivable | 183,978 | 197,257 | ||
Fuel inventory - at average cost | 44,143 | 42,667 | ||
Public Utilities, Inventory | 43,774 | 41,883 | ||
Prepaid Expense and Other Assets, Current | 22,266 | 15,903 | ||
TOTAL | 418,088 | 337,951 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Investment in affiliates - at equity | 413 | 448 | ||
Non-utility property - at cost (less accumulated depreciation) | 376 | 376 | ||
Other | 19,863 | 19,218 | ||
TOTAL | 20,652 | 20,042 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 5,028,850 | 4,773,984 | ||
Construction work in progress | 663,465 | 325,193 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 5,692,315 | 5,099,177 | ||
Less - accumulated depreciation and amortization | 1,745,046 | 1,684,569 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 3,947,269 | 3,414,608 | ||
Regulatory assets: | ||||
Other regulatory assets | 534,255 | 598,048 | ||
Other | 32,861 | 29,371 | ||
Deferred Costs and Other Assets | 567,116 | 627,419 | ||
TOTAL ASSETS | 4,953,125 | 4,400,020 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 0 | 500,000 | ||
Associated companies accounts payable | 45,090 | 119,371 | ||
Accounts payable | 169,788 | 150,679 | ||
Customer deposits | 40,304 | 43,387 | ||
Taxes Payable, Current | 57,058 | 53,513 | ||
Interest accrued | 12,877 | 24,355 | ||
Deferred fuel costs | 13,109 | 19,697 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 35,213 | 87,627 | ||
Other | 8,786 | 6,353 | ||
TOTAL | 382,225 | 1,004,982 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 581,310 | 552,535 | ||
Accumulated deferred investment tax credits | 10,713 | 11,176 | ||
Regulatory liability for income taxes - net | 236,463 | 264,623 | ||
Other regulatory liabilities | 44,784 | 47,884 | ||
Decommissioning and asset retirement cost liabilities | 7,526 | 7,222 | ||
Loss Contingency Accrual | 10,386 | 13,856 | ||
Long-term debt | 1,938,303 | 1,013,735 | ||
Deferred Credits and Other Liabilities | 64,635 | 61,605 | ||
TOTAL | 2,894,120 | 1,972,636 | ||
Common Shareholders' Equity: | ||||
Common Stock, Value, Issued | 49,452 | 49,452 | ||
Additional Paid in Capital, Common Stock | 682,980 | 596,994 | ||
TOTAL | 1,641,780 | 1,422,402 | ||
Stockholders' Equity Attributable to Noncontrolling Interest | 35,000 | 0 | ||
Retained Earnings (Accumulated Deficit) | 909,348 | 775,956 | ||
TOTAL | 1,676,780 | 1,422,402 | 1,374,152 | 1,260,167 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 4,953,125 | 4,400,020 | ||
System Energy [Member] | ||||
Cash and cash equivalents: | ||||
Cash | 79 | 68 | ||
Temporary cash investments | 164,246 | 95,617 | ||
Total cash and cash equivalents | 164,325 | 95,685 | 254,541 | 287,187 |
Accounts receivable: | ||||
Associated companies | 62,740 | 148,571 | ||
Other | 6,330 | 5,390 | ||
Total accounts receivable | 69,070 | 153,961 | ||
Public Utilities, Inventory | 111,927 | 97,225 | ||
Deferred nuclear refueling outage costs | 20,253 | 44,424 | ||
Prepaid Expense and Other Assets, Current | 9,040 | 2,985 | ||
Prepaid Taxes | 0 | 5,415 | ||
TOTAL | 374,615 | 399,695 | ||
OTHER PROPERTY AND INVESTMENTS | ||||
Decommissioning trust funds | 1,002,261 | 869,543 | ||
TOTAL | 1,002,261 | 869,543 | ||
PROPERTY, PLANT, AND EQUIPMENT | ||||
Electric | 5,036,030 | 5,036,116 | ||
Construction work in progress | 141,858 | 70,156 | ||
Nuclear fuel | 158,745 | 234,889 | ||
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 5,336,633 | 5,341,161 | ||
Less - accumulated depreciation and amortization | 3,273,504 | 3,212,080 | ||
PROPERTY, PLANT, AND EQUIPMENT - NET | 2,063,129 | 2,129,081 | ||
Regulatory assets: | ||||
Other regulatory assets | 455,492 | 446,371 | ||
Other | 3,759 | 4,124 | ||
Deferred Costs and Other Assets | 459,251 | 450,495 | ||
TOTAL ASSETS | 3,899,256 | 3,848,814 | ||
CURRENT LIABILITIES | ||||
Currently maturing long-term debt | 10 | 6 | ||
Associated companies accounts payable | 11,475 | 11,031 | ||
Accounts payable | 61,391 | 47,565 | ||
Taxes Payable, Current | 9,164 | 0 | ||
Interest accrued | 11,817 | 13,295 | ||
Current portion of regulatory liability for income taxes - net related to unprotected ADIT | 0 | 4,426 | ||
Other | 2,829 | 2,832 | ||
TOTAL | 96,686 | 79,155 | ||
NON-CURRENT LIABILITIES | ||||
Deferred Income Tax Liabilities, Net | 811,875 | 805,296 | ||
Accumulated deferred investment tax credits | 37,714 | 38,673 | ||
Regulatory liability for income taxes - net | 144,639 | 158,998 | ||
Other regulatory liabilities | 490,790 | 381,887 | ||
Decommissioning and asset retirement cost liabilities | 922,663 | 896,000 | ||
Pension and other postretirement liabilities | 93,626 | 98,639 | ||
Long-term debt | 569,991 | 630,744 | ||
Deferred Credits and Other Liabilities | 31,493 | 22,224 | ||
TOTAL | 3,102,791 | 3,032,461 | ||
Common Shareholders' Equity: | ||||
Common Stock, Value, Issued | 601,850 | 601,850 | ||
Retained Earnings (Accumulated Deficit) | 97,929 | 135,348 | ||
TOTAL | 699,779 | 737,198 | $ 714,996 | $ 710,809 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 3,899,256 | $ 3,848,814 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securitization property | $ 268,177 | $ 360,790 |
Securitization bonds | $ 338,408 | $ 423,858 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 270,035,180 | 261,587,009 |
Treasury stock, shares | 70,947,950 | 72,530,866 |
Entergy Arkansas [Member] | ||
Securitization property | $ 4,596 | $ 14,329 |
Securitization bonds | 14,016 | 20,898 |
Entergy Louisiana [Member] | ||
Securitization property | 32,939 | 49,753 |
Securitization bonds | 45,386 | 55,682 |
Entergy New Orleans [Member] | ||
Securitization property | 52,085 | 60,453 |
Securitization bonds | 58,382 | 63,620 |
Entergy Texas [Member] | ||
Securitization property | 178,558 | 236,336 |
Securitization bonds | $ 220,625 | $ 283,659 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 46,525,000 | 46,525,000 |
Common stock, shares outstanding | 46,525,000 | 46,525,000 |
System Energy [Member] | ||
Common stock, shares authorized | 1,000,000 | 1,000,000 |
Common stock, shares issued | 789,350 | 789,350 |
Common stock, shares outstanding | 789,350 | 789,350 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Equity - USD ($) $ in Thousands | Total | Subsidiaries Preferred Stock [Member] | Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Common Stock [Member] | Treasury Stock [Member] | Entergy Texas [Member] | Entergy Texas [Member]Subsidiaries Preferred Stock [Member] | Entergy Texas [Member]Paid In Capital [Member] | Entergy Texas [Member]Retained Earnings [Member] | Entergy Texas [Member]Common Stock [Member] | Entergy Mississippi [Member] | Entergy Arkansas [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member]Member's Equity [Member] | Entergy Louisiana [Member]Accumulated Other Comprehensive Income [Member] | Entergy New Orleans [Member] | System Energy [Member] | System Energy [Member]Retained Earnings [Member] | System Energy [Member]Common Stock [Member] |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 7,992,515 | $ 0 | $ 5,433,433 | $ 7,977,702 | $ (23,531) | $ 2,548 | $ (5,397,637) | $ 1,260,167 | $ 0 | $ 596,994 | $ 613,721 | $ 49,452 | $ 1,177,870 | $ 2,376,754 | $ 5,308,804 | $ 5,355,204 | $ (46,400) | $ 415,548 | $ 710,809 | $ 52,459 | $ 658,350 |
Consolidated net income | 136,200 | 3,439 | 0 | 132,761 | 0 | 0 | 0 | 17,350 | 0 | 0 | 17,350 | 0 | 22,843 | 36,255 | 111,593 | 111,593 | 0 | 10,882 | 22,308 | 22,308 | 0 |
Dividends, Common Stock, Cash | (160,887) | 0 | 0 | (160,887) | 0 | 0 | 0 | (6,250) | (63,240) | (6,740) | (56,500) | ||||||||||
Dividends, Preferred Stock, Cash | (238) | (357) | |||||||||||||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (3,439) | (3,439) | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Other comprehensive income (loss) | 79,145 | 0 | 0 | 0 | 79,145 | 0 | 0 | (501) | 0 | (501) | |||||||||||
Common stock issuances related to stock plans | (4,307) | 0 | 16,170 | 0 | 0 | 0 | (20,477) | ||||||||||||||
Other | 24 | 24 | 0 | ||||||||||||||||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | (16,538) | 0 | 0 | (32,043) | 15,505 | 0 | 0 | (3,787) | 6,262 | (10,049) | |||||||||||
Consolidated net income | 924,877 | 113,985 | 111,818 | 247,701 | 514,260 | 50,558 | 68,667 | ||||||||||||||
Proceeds from Contributions from Parent | 0 | 350,000 | |||||||||||||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (10,317) | (715) | (1,071) | ||||||||||||||||||
Other comprehensive income (loss) | 8,517 | (1,502) | |||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | ||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 7,974,943 | 0 | 5,417,263 | 8,493,790 | (561,498) | 2,548 | (5,377,160) | 1,277,517 | 0 | 596,994 | 631,071 | 49,452 | 1,200,475 | 2,412,652 | 5,416,133 | 5,473,083 | (56,950) | 420,180 | 669,877 | 68,027 | 601,850 |
Consolidated net income | 248,860 | 3,439 | 0 | 245,421 | 0 | 0 | 0 | 30,789 | 0 | 0 | 30,789 | 0 | 38,242 | 82,556 | 184,358 | 184,358 | 0 | 18,269 | 23,387 | 23,387 | 0 |
Proceeds from Contributions from Parent | 350,000 | ||||||||||||||||||||
Dividends, Common Stock, Cash | (160,935) | 0 | 0 | (160,935) | 0 | 0 | 0 | (56,000) | (56,000) | 0 | (8,250) | ||||||||||
Dividends, Preferred Stock, Cash | (239) | (357) | |||||||||||||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (3,439) | (3,439) | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Other comprehensive income (loss) | (52,144) | 0 | 0 | 0 | (52,144) | 0 | 0 | (501) | 0 | (501) | |||||||||||
Common stock issuances related to stock plans | (15,176) | 0 | (12,141) | 0 | 0 | 0 | (3,035) | ||||||||||||||
Other | (10) | (10) | 0 | ||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 8,022,461 | 0 | 5,429,404 | 8,578,276 | (613,642) | 2,548 | (5,374,125) | 1,308,306 | 0 | 596,994 | 661,860 | 49,452 | 1,238,478 | 2,844,851 | 5,543,980 | 5,601,431 | (57,451) | 430,199 | 693,264 | 91,414 | 601,850 |
Consolidated net income | 539,818 | 3,439 | 0 | 536,379 | 0 | 0 | 0 | 65,846 | 0 | 0 | 65,846 | 0 | 50,733 | 128,890 | 218,308 | 218,308 | 0 | 21,407 | 22,972 | 22,972 | 0 |
Dividends, Common Stock, Cash | (161,044) | 0 | 0 | (161,044) | 0 | 0 | 0 | (9,250) | (1,240) | (1,240) | 0 | ||||||||||
Dividends, Preferred Stock, Cash | (238) | (357) | |||||||||||||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (3,439) | (3,439) | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Other comprehensive income (loss) | (18,484) | 0 | 0 | 0 | (18,484) | 0 | 0 | (500) | 0 | (500) | |||||||||||
Common stock issuances related to stock plans | (33,400) | 0 | (12,292) | 0 | 0 | 0 | (21,108) | ||||||||||||||
Other | (10) | (10) | 0 | ||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 8,412,712 | 0 | 5,441,696 | 8,953,611 | (632,126) | 2,548 | (5,353,017) | 1,374,152 | 0 | 596,994 | 727,706 | 49,452 | 1,288,973 | 2,973,384 | 5,761,778 | 5,819,729 | (57,951) | 442,356 | 714,996 | 113,146 | 601,850 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 8,844,305 | 0 | 5,951,431 | 8,721,150 | (557,173) | 2,616 | (5,273,719) | 1,422,402 | 0 | 596,994 | 775,956 | 49,452 | 1,292,226 | 2,983,103 | 5,902,918 | 5,909,071 | (6,153) | 444,950 | 737,198 | 135,348 | 601,850 |
Consolidated net income | 258,646 | 4,109 | 0 | 254,537 | 0 | 0 | 0 | 21,342 | 0 | 0 | 21,342 | 0 | 15,398 | 39,121 | 127,633 | 127,633 | 0 | 9,023 | 23,578 | 23,578 | 0 |
Dividends, Common Stock, Cash | (172,591) | 0 | 0 | (172,591) | 0 | 0 | 0 | (49,000) | (49,000) | 0 | (45,500) | (45,500) | 0 | ||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (4,109) | (4,109) | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Other comprehensive income (loss) | 12,827 | 0 | 0 | 0 | 12,827 | 0 | 0 | (969) | 0 | (969) | |||||||||||
Common stock issuances related to stock plans | (31,289) | 0 | 31,248 | 0 | 0 | 0 | (62,537) | ||||||||||||||
Other | (11) | (11) | 0 | ||||||||||||||||||
Consolidated net income | 868,639 | 133,502 | 98,302 | 239,136 | 565,977 | 46,934 | 73,081 | ||||||||||||||
Proceeds from Contributions from Parent | 87,500 | 0 | |||||||||||||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (12,328) | 0 | 0 | ||||||||||||||||||
Other comprehensive income (loss) | 144,207 | (2,907) | |||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | 50,000 | ||||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 8,970,367 | 0 | 5,920,183 | 8,809,902 | (551,152) | 2,616 | (5,211,182) | 1,443,744 | 0 | 596,994 | 797,298 | 49,452 | 1,307,624 | 3,022,224 | 5,980,571 | 5,987,693 | (7,122) | 453,973 | 715,276 | 113,426 | 601,850 |
Consolidated net income | 240,533 | 4,109 | 0 | 236,424 | 0 | 0 | 0 | 38,936 | 0 | 0 | 38,936 | 0 | 26,667 | 50,299 | 183,084 | 183,084 | 0 | 13,003 | 24,472 | 24,472 | 0 |
Dividends, Common Stock, Cash | (172,861) | 0 | 0 | (172,861) | 0 | 0 | 0 | (115,000) | (53,000) | (53,000) | 0 | (42,500) | (42,500) | 0 | |||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (4,109) | (4,109) | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Other comprehensive income (loss) | 120,748 | 0 | 0 | 0 | 120,748 | 0 | 0 | (969) | 0 | (969) | |||||||||||
Stock Issued During Period, Value, New Issues | (607,650) | 0 | (607,566) | 0 | 0 | (84) | 0 | ||||||||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | (7) | 0 | (7) | 0 | 0 | 0 | 0 | ||||||||||||||
Common stock issuances related to stock plans | (35,182) | 0 | (11,791) | 0 | 0 | 0 | (23,391) | ||||||||||||||
Other | (14) | (14) | 0 | ||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 9,797,503 | 0 | 6,539,533 | 8,873,465 | (430,404) | 2,700 | (5,187,791) | 1,482,680 | 0 | 596,994 | 836,234 | 49,452 | 1,334,291 | 2,957,523 | 6,109,672 | 6,117,763 | (8,091) | 466,976 | 697,248 | 95,398 | 601,850 |
Consolidated net income | 369,459 | 4,219 | 0 | 365,240 | 0 | 0 | 0 | 73,224 | 0 | 0 | 73,224 | 0 | 56,237 | 149,716 | 255,260 | 255,260 | 0 | 24,908 | 25,031 | 25,031 | 0 |
Proceeds from Contributions from Parent | 87,500 | 0 | 87,500 | 0 | 0 | ||||||||||||||||
Dividends, Common Stock, Cash | (180,956) | 0 | 0 | (180,956) | 0 | 0 | 0 | (110) | 0 | 0 | (110) | 0 | (53,000) | (53,000) | 0 | (22,500) | (22,500) | 0 | |||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (4,219) | (4,219) | 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Other comprehensive income (loss) | 10,632 | 0 | 0 | 0 | 10,632 | 0 | 0 | (969) | 0 | (969) | |||||||||||
Stock Issued During Period, Value, New Issues | (35,000) | (35,000) | 0 | 0 | 0 | 0 | 0 | (33,486) | (35,000) | 1,514 | 0 | 0 | |||||||||
Common stock issuances related to stock plans | (42,642) | 0 | (13,476) | 0 | 0 | 0 | (29,166) | ||||||||||||||
Other | (8) | (8) | 0 | ||||||||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 10,070,061 | $ 35,000 | $ 6,553,009 | $ 9,057,749 | $ (419,772) | $ 2,700 | $ (5,158,625) | $ 1,676,780 | $ 35,000 | $ 682,980 | $ 909,348 | $ 49,452 | $ 1,390,528 | $ 3,107,239 | $ 6,310,955 | $ 6,320,015 | $ (9,060) | $ 491,884 | $ 699,779 | $ 97,929 | $ 601,850 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net income | $ 369,459 | $ 539,818 | $ 868,639 | $ 924,877 |
Other comprehensive income (loss) | ||||
Cash flow hedges net unrealized gain (loss) | (20,103) | (32,004) | 62,453 | (1,645) |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | 25,464 | 15,265 | 48,510 | 47,404 |
Net unrealized investment gains | 5,271 | (1,745) | 33,244 | (37,242) |
Other comprehensive income (loss) | 10,632 | (18,484) | 144,207 | 8,517 |
Total comprehensive income | 380,091 | 521,334 | 1,012,846 | 933,394 |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 4,219 | 3,439 | 12,438 | 10,317 |
Comprehensive Income Attributable to Entergy Corporation | 375,872 | 517,895 | 1,000,408 | 923,077 |
Entergy Louisiana [Member] | ||||
Net income | 255,260 | 218,308 | 565,977 | 514,260 |
Other comprehensive income (loss) | ||||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | (969) | (500) | (2,907) | (1,502) |
Other comprehensive income (loss) | (969) | (500) | (2,907) | (1,502) |
Total comprehensive income | $ 254,291 | $ 217,808 | $ 563,070 | $ 512,758 |
Consolidated Statements Of Co_2
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax | $ (5,343) | $ (8,517) | $ 14,547 | $ (480) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax | 6,760 | 4,126 | 13,086 | 12,919 |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax | 1,303 | (825) | 17,472 | 1,708 |
Entergy Louisiana [Member] | ||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax | $ (342) | $ (177) | $ (1,026) | $ (530) |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, 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 and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. Pilgrim NRC Oversight and Shutdown See Note 8 to the financial statements in the Form 10-K for a discussion of the NRC’s enhanced inspections of Pilgrim and Entergy’s shutdown of Pilgrim. In March 2019 the NRC moved Pilgrim from its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix to its “licensee response column,” or Column 1. Pilgrim ceased operations in May 2019. In June 2019, following permanent defueling of the reactor, Pilgrim was removed from the NRC’s Reactor Oversight Process and is now subject to the NRC’s normal decommissioning inspection program. In August 2019 the NRC approved the transfer of the Pilgrim operating license from Entergy to Holtec and the transaction closed on August 26, 2019. See Note 16 to the financial statements herein for further discussion of the sale of Pilgrim. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following is an update to that discussion. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. 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. Non-Nuclear 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 and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf-Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. The following is an update to that discussion. Capital Funds Agreement (Entergy Corporation and System Energy) Pursuant to the terms of the Capital Funds Agreement, Entergy Corporation had agreed to supply System Energy with sufficient capital to (i) maintain System Energy’s equity capital at an amount equal to a minimum of 35% |
Entergy Arkansas [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, 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 and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. Pilgrim NRC Oversight and Shutdown See Note 8 to the financial statements in the Form 10-K for a discussion of the NRC’s enhanced inspections of Pilgrim and Entergy’s shutdown of Pilgrim. In March 2019 the NRC moved Pilgrim from its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix to its “licensee response column,” or Column 1. Pilgrim ceased operations in May 2019. In June 2019, following permanent defueling of the reactor, Pilgrim was removed from the NRC’s Reactor Oversight Process and is now subject to the NRC’s normal decommissioning inspection program. In August 2019 the NRC approved the transfer of the Pilgrim operating license from Entergy to Holtec and the transaction closed on August 26, 2019. See Note 16 to the financial statements herein for further discussion of the sale of Pilgrim. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following is an update to that discussion. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. 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. Non-Nuclear 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 and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf-Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. The following is an update to that discussion. Capital Funds Agreement (Entergy Corporation and System Energy) Pursuant to the terms of the Capital Funds Agreement, Entergy Corporation had agreed to supply System Energy with sufficient capital to (i) maintain System Energy’s equity capital at an amount equal to a minimum of 35% |
Entergy Louisiana [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, 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 and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. Pilgrim NRC Oversight and Shutdown See Note 8 to the financial statements in the Form 10-K for a discussion of the NRC’s enhanced inspections of Pilgrim and Entergy’s shutdown of Pilgrim. In March 2019 the NRC moved Pilgrim from its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix to its “licensee response column,” or Column 1. Pilgrim ceased operations in May 2019. In June 2019, following permanent defueling of the reactor, Pilgrim was removed from the NRC’s Reactor Oversight Process and is now subject to the NRC’s normal decommissioning inspection program. In August 2019 the NRC approved the transfer of the Pilgrim operating license from Entergy to Holtec and the transaction closed on August 26, 2019. See Note 16 to the financial statements herein for further discussion of the sale of Pilgrim. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following is an update to that discussion. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. 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. Non-Nuclear 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 and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf-Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. The following is an update to that discussion. Capital Funds Agreement (Entergy Corporation and System Energy) Pursuant to the terms of the Capital Funds Agreement, Entergy Corporation had agreed to supply System Energy with sufficient capital to (i) maintain System Energy’s equity capital at an amount equal to a minimum of 35% |
Entergy Mississippi [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, 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 and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. Pilgrim NRC Oversight and Shutdown See Note 8 to the financial statements in the Form 10-K for a discussion of the NRC’s enhanced inspections of Pilgrim and Entergy’s shutdown of Pilgrim. In March 2019 the NRC moved Pilgrim from its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix to its “licensee response column,” or Column 1. Pilgrim ceased operations in May 2019. In June 2019, following permanent defueling of the reactor, Pilgrim was removed from the NRC’s Reactor Oversight Process and is now subject to the NRC’s normal decommissioning inspection program. In August 2019 the NRC approved the transfer of the Pilgrim operating license from Entergy to Holtec and the transaction closed on August 26, 2019. See Note 16 to the financial statements herein for further discussion of the sale of Pilgrim. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following is an update to that discussion. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. 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. Non-Nuclear 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 and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf-Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. The following is an update to that discussion. Capital Funds Agreement (Entergy Corporation and System Energy) Pursuant to the terms of the Capital Funds Agreement, Entergy Corporation had agreed to supply System Energy with sufficient capital to (i) maintain System Energy’s equity capital at an amount equal to a minimum of 35% |
Entergy New Orleans [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, 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 and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. Pilgrim NRC Oversight and Shutdown See Note 8 to the financial statements in the Form 10-K for a discussion of the NRC’s enhanced inspections of Pilgrim and Entergy’s shutdown of Pilgrim. In March 2019 the NRC moved Pilgrim from its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix to its “licensee response column,” or Column 1. Pilgrim ceased operations in May 2019. In June 2019, following permanent defueling of the reactor, Pilgrim was removed from the NRC’s Reactor Oversight Process and is now subject to the NRC’s normal decommissioning inspection program. In August 2019 the NRC approved the transfer of the Pilgrim operating license from Entergy to Holtec and the transaction closed on August 26, 2019. See Note 16 to the financial statements herein for further discussion of the sale of Pilgrim. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following is an update to that discussion. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. 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. Non-Nuclear 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 and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf-Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. The following is an update to that discussion. Capital Funds Agreement (Entergy Corporation and System Energy) Pursuant to the terms of the Capital Funds Agreement, Entergy Corporation had agreed to supply System Energy with sufficient capital to (i) maintain System Energy’s equity capital at an amount equal to a minimum of 35% |
Entergy Texas [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, 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 and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. Pilgrim NRC Oversight and Shutdown See Note 8 to the financial statements in the Form 10-K for a discussion of the NRC’s enhanced inspections of Pilgrim and Entergy’s shutdown of Pilgrim. In March 2019 the NRC moved Pilgrim from its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix to its “licensee response column,” or Column 1. Pilgrim ceased operations in May 2019. In June 2019, following permanent defueling of the reactor, Pilgrim was removed from the NRC’s Reactor Oversight Process and is now subject to the NRC’s normal decommissioning inspection program. In August 2019 the NRC approved the transfer of the Pilgrim operating license from Entergy to Holtec and the transaction closed on August 26, 2019. See Note 16 to the financial statements herein for further discussion of the sale of Pilgrim. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following is an update to that discussion. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. 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. Non-Nuclear 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 and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf-Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. The following is an update to that discussion. Capital Funds Agreement (Entergy Corporation and System Energy) Pursuant to the terms of the Capital Funds Agreement, Entergy Corporation had agreed to supply System Energy with sufficient capital to (i) maintain System Energy’s equity capital at an amount equal to a minimum of 35% |
System Energy [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, 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 and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. Vidalia Purchased Power Agreement See Note 8 to the financial statements in the Form 10-K for information on Entergy Louisiana’s Vidalia purchased power agreement. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident, subsequent NRC reviews, and the deferral of replacement power costs. Pilgrim NRC Oversight and Shutdown See Note 8 to the financial statements in the Form 10-K for a discussion of the NRC’s enhanced inspections of Pilgrim and Entergy’s shutdown of Pilgrim. In March 2019 the NRC moved Pilgrim from its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix to its “licensee response column,” or Column 1. Pilgrim ceased operations in May 2019. In June 2019, following permanent defueling of the reactor, Pilgrim was removed from the NRC’s Reactor Oversight Process and is now subject to the NRC’s normal decommissioning inspection program. In August 2019 the NRC approved the transfer of the Pilgrim operating license from Entergy to Holtec and the transaction closed on August 26, 2019. See Note 16 to the financial statements herein for further discussion of the sale of Pilgrim. Spent Nuclear Fuel Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s spent nuclear fuel litigation. The following is an update to that discussion. In August 2019 the U.S. Court of Federal Claims issued a final judgment in the amount of $19 million in favor of Entergy Louisiana against the DOE in the second round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in September 2019. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The River Bend damages awarded included $12 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $2 million in costs previously capitalized. 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. Non-Nuclear 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 and Labor-related Proceedings See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation. Grand Gulf-Related Agreements See Note 8 to the financial statements in the Form 10-K for information regarding Grand Gulf-related agreements. The following is an update to that discussion. Capital Funds Agreement (Entergy Corporation and System Energy) Pursuant to the terms of the Capital Funds Agreement, Entergy Corporation had agreed to supply System Energy with sufficient capital to (i) maintain System Energy’s equity capital at an amount equal to a minimum of 35% |
Rate And Regulatory Matters
Rate And Regulatory Matters | 9 Months Ended |
Sep. 30, 2019 | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions were terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging the treatment and amount of excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2019, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit to customers for the recovery of the true-up adjustment resulting from the 2018 over-recovered retail balance of $0.1 million and the recovery of a $4.2 million payment to Entergy Arkansas as a result of the FERC’s May 2018 decision in the 2005 bandwidth proceeding, in which the FERC directed a compliance filing to be made that consisted of the comprehensive recalculation of the bandwidth formula rate with true-up payments and receipts based on test period data for June 1, 2005 through December 31, 2005. The rates for the 2019 production cost allocation rider update are effective July 2019 through June 2020. Energy Cost Recovery Rider In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied the Attorney General’s motion in the energy cost recovery proceeding seeking an investigation into Entergy Arkansas’s annual energy cost recovery rider adjustment and referred the evaluation of such matters to the opportunity sales recovery proceeding. Entergy Louisiana In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. In January 2019 the LPSC staff issued its audit report recommending that Entergy Louisiana refund approximately $7.3 million , plus interest, to customers based upon the imputation of a claim of vendor fault in servicing its nuclear plant. Entergy Louisiana recorded a provision in the first quarter 2019 for the potential outcome of the audit. In August 2019, Entergy Louisiana filed direct testimony challenging the basis for the LPSC staff’s recommended disallowance and providing an alternative calculation of replacement power costs should it be determined that a disallowance is appropriate. Entergy Louisiana’s calculation would require a refund to customers of approximately $4.2 million , plus interest, as compared to the LPSC staff’s recommendation of $7.3 million , plus interest. Responsive testimony was filed by the LPSC staff and intervenors in September 2019; all parties either agreed with or did not oppose Entergy Louisiana’s alternative calculation of replacement power costs. In September 2019 the procedural schedule was suspended to facilitate settlement negotiations. Entergy Mississippi Mississippi Attorney General Complaint As discussed in the Form 10-K, the Mississippi Attorney General filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. Entergy believes the complaint is unfounded. In December 2008 the Attorney General’s lawsuit was removed to U.S. District Court in Jackson, Mississippi. Pre-trial and settlement conferences were held in October 2018. In October 2018 the District Court rescheduled the trial to April 2019. In April 2019 the District Court remanded the Attorney General’s lawsuit to the Hinds County Chancery Court in Jackson, Mississippi. A hearing on procedural and dispositive motions was held in August 2019. Following the parties’ oral arguments, the Attorney General filed a post hearing brief, to which Entergy Mississippi filed a response. The motions remain pending before the chancellor of the Hinds County Chancery Court. Entergy Texas In September 2019, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period from April 2016 through March 2019. During the reconciliation period, Entergy Texas incurred approximately $1.6 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimated an under-recovery balance of approximately $25.8 million , including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2019. The proceeding is currently pending. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2019 Formula Rate Plan Filing In July 2019, Entergy Arkansas filed with the APSC its 2019 formula rate plan filing to set its formula rate for the 2020 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2020 and a netting adjustment for the historical year 2018. The total proposed formula rate plan rider revenue change designed to produce a target rate of return on common equity of 9.75% is $15.3 million , which is based upon a deficiency of approximately $61.9 million for the 2020 projected year, netted with a credit of approximately $46.6 million in the 2018 historical year netting adjustment. During 2018, Entergy Arkansas experienced higher-than expected sales volume, and actual costs were lower than forecasted. These changes, coupled with a reduced income tax rate resulting from the Tax Cuts and Jobs Act, resulted in the credit for the historical year netting adjustment. In the fourth quarter 2018, Entergy Arkansas recorded a provision of $35.1 million that reflected the estimate of the historical year netting adjustment that was expected to be included in the 2019 filing. In 2019, Entergy Arkansas recorded additional provisions totaling $11.5 million to reflect the updated estimate of the historical year netting adjustment included in the 2019 filing. In October 2019 other parties in the proceeding filed their errors and objections requesting certain adjustments to Entergy Arkansas’s filing, which, if granted, would reduce or eliminate Entergy Arkansas’s proposed revenue change. Entergy Arkansas filed its response addressing the requested adjustments in October 2019. In its response, Entergy Arkansas accepted certain of the adjustments recommended by the General Staff of the APSC that would reduce the proposed formula rate plan rider revenue change to $14 million . Entergy Arkansas disputed the remaining adjustments proposed by the parties. In October 2019, Entergy Arkansas filed a unanimous settlement agreement with the other parties in the proceeding seeking APSC approval of a revised total formula rate plan rider revenue change of $10.1 million . The proposed new formula rates would go into effect in January 2020. In its July 2019 formula rate plan filing, Entergy Arkansas proposed to recover an $11.2 million regulatory asset, amortized over five years, associated with specific costs related to the potential construction of scrubbers at the White Bluff plant. While Entergy Arkansas does not concede that the regulatory asset does not have merit, for purposes of reaching a settlement amount on the total formula rate plan rider change Entergy Arkansas agreed not to include the amounts associated with the White Bluff scrubber regulatory asset in the 2019 formula rate plan filing or future filings. Entergy Arkansas will record a write off of the $11.2 million White Bluff scrubber regulatory asset. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2017 Formula Rate Plan Filing Commercial operation at St. Charles Power Station commenced in May 2019. In May 2019, Entergy Louisiana filed an update to its 2017 formula rate plan evaluation report to include the estimated first-year revenue requirement of $109.5 million associated with the St. Charles Power Station. The resulting interim adjustment to rates became effective with the first billing cycle of June 2019. 2018 Formula Rate Plan Filing In May 2019, Entergy Louisiana filed its formula rate plan evaluation report for its 2018 calendar year operations. The 2018 test year evaluation report produced an earned return on common equity of 10.61% leading to a base rider formula rate plan revenue decrease of $8.9 million . While base rider formula rate plan revenue decreased as a result of this filing, overall formula rate plan revenues increased by approximately $118.7 million . This outcome is primarily driven by a reduction to the credits previously flowed through the tax reform adjustment mechanism and an increase in the transmission recovery mechanism, partially offset by reductions in the additional capacity mechanism revenue requirements and extraordinary cost items. The filing is subject to review by the LPSC. Resulting rates were implemented in September 2019, subject to refund due to contested issues. Entergy Louisiana also included in its filing a presentation of an initial proposal to combine the legacy Entergy Louisiana and legacy Entergy Gulf States Louisiana residential rates, which combination, if approved, would be accomplished on a revenue-neutral basis intended not to affect the rates of other customer classes. Entergy Louisiana contemplates that any combination of residential rates resulting from this request would be implemented with the results of the 2019 test year formula rate plan filing. Several parties intervened in the proceeding and the LPSC staff filed its report of objections/reservations in accordance with the applicable provisions of the formula rate plan. In its report the LPSC staff re-urged reservations with respect to the outstanding issues from the 2017 test year formula rate plan filing and disputed the inclusion of certain affiliate costs for test years 2017 and 2018. The LPSC staff objected to Entergy Louisiana’s proposal to combine residential rates but proposed the setting of a status conference to establish a procedural schedule to more fully address the issue. The LPSC staff also reserved its right to object to the treatment of the sale of Willow Glen reflected in the evaluation report and to the August 2019 compliance update, which was made primarily to update the capital additions reflected in the formula rate plan’s transmission recovery mechanism, based on limited time to review it. Additionally, since the completion of certain transmission projects, the LPSC staff has issued supplemental data requests addressing the prudence of Entergy Louisiana’s expenditures in connection with those projects. Entergy Louisiana is in the process of responding to those requests. Investigation of Costs Billed by Entergy Services In November 2018 the LPSC issued a notice of proceeding initiating an investigation into costs incurred by Entergy Services that are included in the retail rates of Entergy Louisiana. As noted in the notice of proceeding, the LPSC observed an increase in capital construction-related costs that have been incurred by Entergy Services. Discovery is ongoing and has included efforts to seek highly detailed information on a broad range of matters unrelated to the scope of the audit. Retail Rates - Gas 2018 Rate Stabilization Plan Filing As discussed in the Form 10-K, in January 2019, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2018. Entergy Louisiana made a compliance filing in April 2019 and rates were implemented during the first billing cycle of May 2019, subject to refund and final LPSC review. Gas Rate Stabilization Plan Extension Request In August 2019, Entergy Louisiana submitted an application to the LPSC seeking extension of the gas rate stabilization plan for the 2019-2021 test years. The LPSC has established a procedural schedule to address this request with a hearing scheduled in May 2020. Filings with the MPSC (Entergy Mississippi) Formula Rate Plan In March 2019, Entergy Mississippi submitted its formula rate plan 2019 test year filing and 2018 look-back filing showing Entergy Mississippi’s earned return for the historical 2018 calendar year to be above the formula rate plan bandwidth and projected earned return for the 2019 calendar year to be below the formula rate plan bandwidth. The 2019 test year filing shows a $36.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.94% return on rate base, within the formula rate plan bandwidth. The 2018 look-back filing compares actual 2018 results to the approved benchmark return on rate base and shows a $10.1 million interim decrease in formula rate plan revenues is necessary. In the fourth quarter 2018, Entergy Mississippi recorded a provision of $9.3 million that reflected the estimate of the difference between the 2018 expected earned rate of return on rate base and an established performance-adjusted benchmark rate of return under the formula rate plan performance-adjusted bandwidth mechanism. In the first quarter 2019, Entergy Mississippi recorded an increase of $0.8 million in the provision to reflect the amount shown in the look-back filing. In June 2019, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed that the 2019 test year filing showed that a $32.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.93% return on rate base, within the formula rate plan bandwidth. Additionally, pursuant to the joint stipulation, Entergy Mississippi’s 2018 look-back filing reflected an earned return on rate base of 7.81% in calendar year 2018 which is above the look-back benchmark return on rate base of 7.13% , resulting in an $11 million decrease in formula rate plan revenues on an interim basis through June 2020. In the second quarter 2019, Entergy Mississippi recorded an additional $0.9 million increase in the provision to reflect the $11 million shown in the look-back filing. In June 2019 the MPSC approved the joint stipulation with rates effective for the first billing cycle of July 2019. Filings with the City Council (Entergy New Orleans) Retail Rates See the Form 10-K for discussion of the electric and gas base rate case filed by Entergy New Orleans in September 2018. The evidentiary hearing in this proceeding was held in June 2019. The record and post-hearing briefs were submitted in July 2019. In August 2019, Entergy New Orleans sent a letter to the City Council proposing a framework for settlement of the rate case. That framework includes, among other things: (1) a total reduction in revenues of approximately $30 million ( $27 million electric, $3 million gas); (2) a reduced return on common equity lower than 10.5% , but still commensurate with Entergy New Orleans’s level of risk, paired with three-year electric and gas formula rate plans with forward-looking features; (3) a demand-side management program intended to achieve greater penetration of the City Council’s Energy Smart programs and make progress towards the City Council’s energy efficiency goals. In October 2019 the City Council’s Utility Committee approved a resolution for consideration by the full City Council that included a 9.35% return on common equity, a total reduction in revenues of approximately $39 million ( $36 million electric; $3 million gas), and an equity ratio of the lesser of 50% or Entergy New Orleans’s actual equity ratio. Also in October 2019, Entergy New Orleans sent another letter to the City Council identifying certain issues with the proposed resolution and inviting the City Council to resume negotiations in an effort to address these issues. The City Council may consider the resolution at its November 7, 2019 meeting. Filings with the PUCT (Entergy Texas) Base Rate Case In January 2019, Entergy Texas filed for recovery of rate case expenses totaling $7.2 million . The amounts requested primarily include internal and external expenses related to litigating the 2018 base rate case. Parties filed testimony in April 2019 recommending a disallowance ranging from $3.2 million to $4.2 million of the $7.2 million requested. In May 2019, Entergy Texas filed rebuttal testimony responding to the parties’ positions . In September 2019 an order was issued abating the procedural schedule and scheduled hearing to allow the finalization of a settlement in principle reached among the parties. The settlement provides for a black box disallowance of $1.4 million . In the third quarter 2019, Entergy Texas recorded a provision for the 2018 base rate case expenses based on the settlement in principle. In October 2019 the settlement was filed for review by the PUCT. Other Filings In March 2019, Entergy Texas filed with the PUCT a request to set a new distribution cost recovery factor (DCRF) rider. The proposed new DCRF rider is designed to collect approximately $3.2 million annually from Entergy Texas’s retail customers based on its capital invested in distribution between January 1, 2018 and December 31, 2018. In September 2019 the PUCT issued an order approving rates, which had been effective on an interim basis since June 2019, at the level proposed in Entergy Texas’s application. In December 2018, Entergy Texas filed with the PUCT a request to set a new transmission cost recovery factor (TCRF) rider. The proposed new TCRF rider is designed to collect approximately $2.7 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and September 30, 2018. In April 2019 parties filed testimony proposing a load growth adjustment, which would have fully offset Entergy Texas’s proposed TCRF revenue requirement. In July 2019 the PUCT granted Entergy Texas’s application as filed to begin recovery of the requested $2.7 million annual revenue requirement, rejecting opposing parties’ proposed adjustment; however, the PUCT found that the question of prudence of the actual investment costs should be determined in Entergy Texas’s next rate case similar to the procedure used for the costs recovered through the DCRF rider. In October 2019 the PUCT issued an order on a motion for rehearing, clarifying and affirming its prior order granting Entergy Texas’s application as filed. Also in October 2019 a second motion for rehearing was filed, and Entergy Texas filed a response in opposition to the motion. The second motion for rehearing is pending before the PUCT. In August 2019, Entergy Texas filed with the PUCT a request to amend its TCRF rider. The proposed new TCRF rider is designed to collect approximately $19.4 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and June 30, 2019, which is $16.7 million in incremental annual revenue above the $2.7 million approved in the prior pending TCRF proceeding. The proceeding is currently pending. System Agreement Cost Equalization Proceedings As discussed in the Form 10-K, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. The presiding judge issued an initial decision in November 2016. In the initial decision, the presiding judge agreed with the Utility operating companies’ position that: (1) interest on the bandwidth payments for the 2005 test period should be accrued from June 1, 2006 until the date that the bandwidth payments for that calculation are paid, which is consistent with how the Utility operating companies performed the calculation; and (2) a portion of Entergy Louisiana’s 2001-vintage Louisiana state net operating loss accumulated deferred income tax that results from the Vidalia tax deduction should be excluded from the 2005 test period bandwidth calculation. Various participants filed briefs on exceptions and/or briefs opposing exceptions related to the initial decision, including the LPSC, the APSC, the FERC trial staff, and Entergy Services. In May 2018 the FERC issued an order affirming the initial decision and ordered a comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and a recalculation of the 2006 and 2007 test years as a result of limited revisions. Entergy filed the comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and the 2006 and 2007 test years in July 2018. The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 These payments were made in July 2018. In January 2019 the FERC denied the LPSC’s request for rehearing of the May 2018 order. In May 2019 the FERC accepted the July 2018 compliance filing, and the LPSC sought rehearing of that decision in June 2019. Rough Production Cost Equalization 2010 Rate Filing Based on Calendar Year 2009 Production Costs In May 2010, Entergy filed with the FERC the 2010 rates in accordance with the FERC’s orders in the System Agreement proceeding, and supplemented the filing in September 2010. Several parties intervened in the proceeding at the FERC, including the LPSC and the City Council, which also filed protests. In July 2010 the FERC accepted Entergy’s proposed rates for filing, effective June 1, 2010, subject to refund. After an abeyance of the proceeding schedule, a hearing was held in March 2014 and in December 2015 the FERC issued an order. Among other things, the December 2015 order directed Entergy to submit a compliance filing. In January 2016 the LPSC, the APSC, and Entergy filed requests for rehearing of the FERC’s December 2015 order. In February 2016, Entergy submitted the compliance filing ordered in the December 2015 order. The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) In September 2016 the FERC accepted the February 2016 compliance filing subject to a further compliance filing made in November 2016. The further compliance filing was required as a result of an order issued in September 2016 ruling on the January 2016 rehearing requests filed by the LPSC, the APSC, and Entergy. In the order addressing the rehearing requests, the FERC granted the LPSC’s rehearing request and directed that interest be calculated on the payment/receipt amounts. The FERC also granted the APSC’s and Entergy’s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation. In November 2016, Entergy submitted its compliance filing in response to the FERC’s order on rehearing. The compliance filing included a revised calculation of the bandwidth true-up payments and receipts based on 2009 test year data and interest calculations. The LPSC protested the interest calculations. I n November 2017 the FERC issued an order rejecting the November 2016 compliance filing. The FERC determined that the payments detailed in the November 2016 compliance filing did not include adequate interest for the payments from Entergy Arkansas to Entergy Louisiana because it did not include interest on the principal portion of the payment that was made in February 2016. In December 2017, Entergy recalculated the interest pursuant to the November 2017 order. As a result of the recalculations, Entergy Arkansas owed very minor payments to Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. In June 2019 the FERC issued an order denying the LPSC’s rehearing request of FERC’s September 2016 order. The LPSC rehearing request asked the FERC to reverse its decision that both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes should be removed from the bandwidth calculation. Entergy Arkansas Opportunity Sales Proceeding As discussed in the Form 10-K, in December 2018, Entergy made a compliance filing in response to the FERC’s October 2018 order in the opportunity sales proceeding. The compliance filing provided a final calculation of Entergy Arkansas’s payments to the other Utility operating companies, including interest. No protests were filed in response to the December 2018 compliance filing. The December 2018 compliance filing is pending FERC action. In February 2019 the LPSC filed a new complaint relating to two issues that were raised in the opportunity sales proceeding, but that, in its October 2018 order, the FERC held were outside the scope of the proceeding. In March 2019, Entergy Services filed an answer and motion to dismiss the new complaint. In May 2019, Entergy Arkansas filed an application and supporting testimony with the APSC requesting approval of a special rider tariff to recover the costs of these payments from its retail customers over a 24-month period. The application requested that the APSC approve the rider to take effect within 30 days or, if suspended by the APSC as allowed by commission rule, approve the rider to take effect in the first billing cycle of the first month occurring 30 days after issuance of the APSC’s order approving the rider. In June 2019 the APSC suspended Entergy Arkansas’s tariff and granted Entergy Arkansas’s motion asking the APSC to establish the proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC’s October 2018 order and related FERC orders in the opportunity sales proceeding. Complaints Against System Energy Return on Equity and Capital Structure Complaints See the Form 10-K for a discussion of the return on equity complaints filed by the APSC and the MPSC and by the LPSC against System Energy. The LPSC’s complaint also includes a challenge to System Energy’s capital structure. In August 2018 the FERC issued an order dismissing the LPSC’s request to investigate System Energy’s capital structure and setting for hearing the return on equity complaint, with a refund effective date of April 27, 2018. The portion of the LPSC’s complaint dealing with return on equity was subsequently consolidated with the APSC and MPSC complaint for hearing. The parties are required to address an order (issued in a separate proceeding involving New England transmission owners) that proposed modifying the FERC’s standard methodology for determining return on equity. In September 2018, System Energy filed a request for rehearing and the LPSC filed a request for rehearing or reconsideration of the FERC’s August 2018 order. The LPSC’s request referenced an amended complaint that it filed on the same day raising the same capital structure claim the FERC had earlier dismissed. The FERC initiated a new proceeding for the amended capital structure complaint, and System Energy submitted a response in October 2018. In January 2019 the FERC set the amended capital structure complaint for settlement and hearing proceedings. Settlement procedures in the capital structure proceeding commenced in February 2019. As noted below, in June 2019 settlement discussions were terminated and the amended capital structure complaint was consolidated with the ongoing return on equity proceeding. In January 2019 the LPSC and the APSC and MPSC filed direct testimony in the return on equity proceeding. For the refund period January 23, 2017 through April 23, 2018, the LPSC argues for an authorized return on equity for System Energy of 7.81% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.24% . For the refund period April 27, 2018 through July 27, 2019, and for application on a prospective basis, the LPSC argues for an authorized return on equity for System Energy of 7.97% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.41% . In March 2019, System Energy submitted answering testimony in the return on equity proceeding. For the first refund period, System Energy’s testimony argues for a return on equity of 10.10% (median) or 10.70% (midpoint). For the second refund period, System Energy’s testimony shows that the calculated returns on equity for the first period fall within the range of presumptively just and reasonable returns on equity, and thus the second complaint should be dismissed (and the first period return on equity used going forward). If the FERC nonetheless were to set a new return on equity for the second period (and going forward), System Energy argues the return on equity should be either 10.32% (median) or 10.69% (midpoint). In May 2019 the FERC trial staff filed its direct and answering testimony in the return on equity proceeding. For the first refund period, the FERC trial staff calculates an authorized return on equity for System Energy of 9.89% based on the application of FERC’s proposed methodology. The FERC trial staff’s direct and answering testimony noted that an authorized return on equity of 9.89% for the first refund period was within the range of presumptively just and reasonable returns on equity for the second refund period, as calculated using a study period ending January 31, 2019 for the second refund period. In June 2019, System Entergy filed testimony responding to the testimony filed by the FERC trial staff. Among other things, System Energy’s testimony rebutted arguments raised by the FERC trial staff and provided updated calculations for the second refund period based on the study period ending May 31, 2019. For that refund period, System Energy’s testimony shows that strict application of the return on equity methodology proposed by the FERC trial staff indicates that the second complaint would not be dismissed, and the ne |
Entergy Arkansas [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions were terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging the treatment and amount of excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2019, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit to customers for the recovery of the true-up adjustment resulting from the 2018 over-recovered retail balance of $0.1 million and the recovery of a $4.2 million payment to Entergy Arkansas as a result of the FERC’s May 2018 decision in the 2005 bandwidth proceeding, in which the FERC directed a compliance filing to be made that consisted of the comprehensive recalculation of the bandwidth formula rate with true-up payments and receipts based on test period data for June 1, 2005 through December 31, 2005. The rates for the 2019 production cost allocation rider update are effective July 2019 through June 2020. Energy Cost Recovery Rider In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied the Attorney General’s motion in the energy cost recovery proceeding seeking an investigation into Entergy Arkansas’s annual energy cost recovery rider adjustment and referred the evaluation of such matters to the opportunity sales recovery proceeding. Entergy Louisiana In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. In January 2019 the LPSC staff issued its audit report recommending that Entergy Louisiana refund approximately $7.3 million , plus interest, to customers based upon the imputation of a claim of vendor fault in servicing its nuclear plant. Entergy Louisiana recorded a provision in the first quarter 2019 for the potential outcome of the audit. In August 2019, Entergy Louisiana filed direct testimony challenging the basis for the LPSC staff’s recommended disallowance and providing an alternative calculation of replacement power costs should it be determined that a disallowance is appropriate. Entergy Louisiana’s calculation would require a refund to customers of approximately $4.2 million , plus interest, as compared to the LPSC staff’s recommendation of $7.3 million , plus interest. Responsive testimony was filed by the LPSC staff and intervenors in September 2019; all parties either agreed with or did not oppose Entergy Louisiana’s alternative calculation of replacement power costs. In September 2019 the procedural schedule was suspended to facilitate settlement negotiations. Entergy Mississippi Mississippi Attorney General Complaint As discussed in the Form 10-K, the Mississippi Attorney General filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. Entergy believes the complaint is unfounded. In December 2008 the Attorney General’s lawsuit was removed to U.S. District Court in Jackson, Mississippi. Pre-trial and settlement conferences were held in October 2018. In October 2018 the District Court rescheduled the trial to April 2019. In April 2019 the District Court remanded the Attorney General’s lawsuit to the Hinds County Chancery Court in Jackson, Mississippi. A hearing on procedural and dispositive motions was held in August 2019. Following the parties’ oral arguments, the Attorney General filed a post hearing brief, to which Entergy Mississippi filed a response. The motions remain pending before the chancellor of the Hinds County Chancery Court. Entergy Texas In September 2019, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period from April 2016 through March 2019. During the reconciliation period, Entergy Texas incurred approximately $1.6 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimated an under-recovery balance of approximately $25.8 million , including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2019. The proceeding is currently pending. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2019 Formula Rate Plan Filing In July 2019, Entergy Arkansas filed with the APSC its 2019 formula rate plan filing to set its formula rate for the 2020 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2020 and a netting adjustment for the historical year 2018. The total proposed formula rate plan rider revenue change designed to produce a target rate of return on common equity of 9.75% is $15.3 million , which is based upon a deficiency of approximately $61.9 million for the 2020 projected year, netted with a credit of approximately $46.6 million in the 2018 historical year netting adjustment. During 2018, Entergy Arkansas experienced higher-than expected sales volume, and actual costs were lower than forecasted. These changes, coupled with a reduced income tax rate resulting from the Tax Cuts and Jobs Act, resulted in the credit for the historical year netting adjustment. In the fourth quarter 2018, Entergy Arkansas recorded a provision of $35.1 million that reflected the estimate of the historical year netting adjustment that was expected to be included in the 2019 filing. In 2019, Entergy Arkansas recorded additional provisions totaling $11.5 million to reflect the updated estimate of the historical year netting adjustment included in the 2019 filing. In October 2019 other parties in the proceeding filed their errors and objections requesting certain adjustments to Entergy Arkansas’s filing, which, if granted, would reduce or eliminate Entergy Arkansas’s proposed revenue change. Entergy Arkansas filed its response addressing the requested adjustments in October 2019. In its response, Entergy Arkansas accepted certain of the adjustments recommended by the General Staff of the APSC that would reduce the proposed formula rate plan rider revenue change to $14 million . Entergy Arkansas disputed the remaining adjustments proposed by the parties. In October 2019, Entergy Arkansas filed a unanimous settlement agreement with the other parties in the proceeding seeking APSC approval of a revised total formula rate plan rider revenue change of $10.1 million . The proposed new formula rates would go into effect in January 2020. In its July 2019 formula rate plan filing, Entergy Arkansas proposed to recover an $11.2 million regulatory asset, amortized over five years, associated with specific costs related to the potential construction of scrubbers at the White Bluff plant. While Entergy Arkansas does not concede that the regulatory asset does not have merit, for purposes of reaching a settlement amount on the total formula rate plan rider change Entergy Arkansas agreed not to include the amounts associated with the White Bluff scrubber regulatory asset in the 2019 formula rate plan filing or future filings. Entergy Arkansas will record a write off of the $11.2 million White Bluff scrubber regulatory asset. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2017 Formula Rate Plan Filing Commercial operation at St. Charles Power Station commenced in May 2019. In May 2019, Entergy Louisiana filed an update to its 2017 formula rate plan evaluation report to include the estimated first-year revenue requirement of $109.5 million associated with the St. Charles Power Station. The resulting interim adjustment to rates became effective with the first billing cycle of June 2019. 2018 Formula Rate Plan Filing In May 2019, Entergy Louisiana filed its formula rate plan evaluation report for its 2018 calendar year operations. The 2018 test year evaluation report produced an earned return on common equity of 10.61% leading to a base rider formula rate plan revenue decrease of $8.9 million . While base rider formula rate plan revenue decreased as a result of this filing, overall formula rate plan revenues increased by approximately $118.7 million . This outcome is primarily driven by a reduction to the credits previously flowed through the tax reform adjustment mechanism and an increase in the transmission recovery mechanism, partially offset by reductions in the additional capacity mechanism revenue requirements and extraordinary cost items. The filing is subject to review by the LPSC. Resulting rates were implemented in September 2019, subject to refund due to contested issues. Entergy Louisiana also included in its filing a presentation of an initial proposal to combine the legacy Entergy Louisiana and legacy Entergy Gulf States Louisiana residential rates, which combination, if approved, would be accomplished on a revenue-neutral basis intended not to affect the rates of other customer classes. Entergy Louisiana contemplates that any combination of residential rates resulting from this request would be implemented with the results of the 2019 test year formula rate plan filing. Several parties intervened in the proceeding and the LPSC staff filed its report of objections/reservations in accordance with the applicable provisions of the formula rate plan. In its report the LPSC staff re-urged reservations with respect to the outstanding issues from the 2017 test year formula rate plan filing and disputed the inclusion of certain affiliate costs for test years 2017 and 2018. The LPSC staff objected to Entergy Louisiana’s proposal to combine residential rates but proposed the setting of a status conference to establish a procedural schedule to more fully address the issue. The LPSC staff also reserved its right to object to the treatment of the sale of Willow Glen reflected in the evaluation report and to the August 2019 compliance update, which was made primarily to update the capital additions reflected in the formula rate plan’s transmission recovery mechanism, based on limited time to review it. Additionally, since the completion of certain transmission projects, the LPSC staff has issued supplemental data requests addressing the prudence of Entergy Louisiana’s expenditures in connection with those projects. Entergy Louisiana is in the process of responding to those requests. Investigation of Costs Billed by Entergy Services In November 2018 the LPSC issued a notice of proceeding initiating an investigation into costs incurred by Entergy Services that are included in the retail rates of Entergy Louisiana. As noted in the notice of proceeding, the LPSC observed an increase in capital construction-related costs that have been incurred by Entergy Services. Discovery is ongoing and has included efforts to seek highly detailed information on a broad range of matters unrelated to the scope of the audit. Retail Rates - Gas 2018 Rate Stabilization Plan Filing As discussed in the Form 10-K, in January 2019, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2018. Entergy Louisiana made a compliance filing in April 2019 and rates were implemented during the first billing cycle of May 2019, subject to refund and final LPSC review. Gas Rate Stabilization Plan Extension Request In August 2019, Entergy Louisiana submitted an application to the LPSC seeking extension of the gas rate stabilization plan for the 2019-2021 test years. The LPSC has established a procedural schedule to address this request with a hearing scheduled in May 2020. Filings with the MPSC (Entergy Mississippi) Formula Rate Plan In March 2019, Entergy Mississippi submitted its formula rate plan 2019 test year filing and 2018 look-back filing showing Entergy Mississippi’s earned return for the historical 2018 calendar year to be above the formula rate plan bandwidth and projected earned return for the 2019 calendar year to be below the formula rate plan bandwidth. The 2019 test year filing shows a $36.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.94% return on rate base, within the formula rate plan bandwidth. The 2018 look-back filing compares actual 2018 results to the approved benchmark return on rate base and shows a $10.1 million interim decrease in formula rate plan revenues is necessary. In the fourth quarter 2018, Entergy Mississippi recorded a provision of $9.3 million that reflected the estimate of the difference between the 2018 expected earned rate of return on rate base and an established performance-adjusted benchmark rate of return under the formula rate plan performance-adjusted bandwidth mechanism. In the first quarter 2019, Entergy Mississippi recorded an increase of $0.8 million in the provision to reflect the amount shown in the look-back filing. In June 2019, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed that the 2019 test year filing showed that a $32.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.93% return on rate base, within the formula rate plan bandwidth. Additionally, pursuant to the joint stipulation, Entergy Mississippi’s 2018 look-back filing reflected an earned return on rate base of 7.81% in calendar year 2018 which is above the look-back benchmark return on rate base of 7.13% , resulting in an $11 million decrease in formula rate plan revenues on an interim basis through June 2020. In the second quarter 2019, Entergy Mississippi recorded an additional $0.9 million increase in the provision to reflect the $11 million shown in the look-back filing. In June 2019 the MPSC approved the joint stipulation with rates effective for the first billing cycle of July 2019. Filings with the City Council (Entergy New Orleans) Retail Rates See the Form 10-K for discussion of the electric and gas base rate case filed by Entergy New Orleans in September 2018. The evidentiary hearing in this proceeding was held in June 2019. The record and post-hearing briefs were submitted in July 2019. In August 2019, Entergy New Orleans sent a letter to the City Council proposing a framework for settlement of the rate case. That framework includes, among other things: (1) a total reduction in revenues of approximately $30 million ( $27 million electric, $3 million gas); (2) a reduced return on common equity lower than 10.5% , but still commensurate with Entergy New Orleans’s level of risk, paired with three-year electric and gas formula rate plans with forward-looking features; (3) a demand-side management program intended to achieve greater penetration of the City Council’s Energy Smart programs and make progress towards the City Council’s energy efficiency goals. In October 2019 the City Council’s Utility Committee approved a resolution for consideration by the full City Council that included a 9.35% return on common equity, a total reduction in revenues of approximately $39 million ( $36 million electric; $3 million gas), and an equity ratio of the lesser of 50% or Entergy New Orleans’s actual equity ratio. Also in October 2019, Entergy New Orleans sent another letter to the City Council identifying certain issues with the proposed resolution and inviting the City Council to resume negotiations in an effort to address these issues. The City Council may consider the resolution at its November 7, 2019 meeting. Filings with the PUCT (Entergy Texas) Base Rate Case In January 2019, Entergy Texas filed for recovery of rate case expenses totaling $7.2 million . The amounts requested primarily include internal and external expenses related to litigating the 2018 base rate case. Parties filed testimony in April 2019 recommending a disallowance ranging from $3.2 million to $4.2 million of the $7.2 million requested. In May 2019, Entergy Texas filed rebuttal testimony responding to the parties’ positions . In September 2019 an order was issued abating the procedural schedule and scheduled hearing to allow the finalization of a settlement in principle reached among the parties. The settlement provides for a black box disallowance of $1.4 million . In the third quarter 2019, Entergy Texas recorded a provision for the 2018 base rate case expenses based on the settlement in principle. In October 2019 the settlement was filed for review by the PUCT. Other Filings In March 2019, Entergy Texas filed with the PUCT a request to set a new distribution cost recovery factor (DCRF) rider. The proposed new DCRF rider is designed to collect approximately $3.2 million annually from Entergy Texas’s retail customers based on its capital invested in distribution between January 1, 2018 and December 31, 2018. In September 2019 the PUCT issued an order approving rates, which had been effective on an interim basis since June 2019, at the level proposed in Entergy Texas’s application. In December 2018, Entergy Texas filed with the PUCT a request to set a new transmission cost recovery factor (TCRF) rider. The proposed new TCRF rider is designed to collect approximately $2.7 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and September 30, 2018. In April 2019 parties filed testimony proposing a load growth adjustment, which would have fully offset Entergy Texas’s proposed TCRF revenue requirement. In July 2019 the PUCT granted Entergy Texas’s application as filed to begin recovery of the requested $2.7 million annual revenue requirement, rejecting opposing parties’ proposed adjustment; however, the PUCT found that the question of prudence of the actual investment costs should be determined in Entergy Texas’s next rate case similar to the procedure used for the costs recovered through the DCRF rider. In October 2019 the PUCT issued an order on a motion for rehearing, clarifying and affirming its prior order granting Entergy Texas’s application as filed. Also in October 2019 a second motion for rehearing was filed, and Entergy Texas filed a response in opposition to the motion. The second motion for rehearing is pending before the PUCT. In August 2019, Entergy Texas filed with the PUCT a request to amend its TCRF rider. The proposed new TCRF rider is designed to collect approximately $19.4 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and June 30, 2019, which is $16.7 million in incremental annual revenue above the $2.7 million approved in the prior pending TCRF proceeding. The proceeding is currently pending. System Agreement Cost Equalization Proceedings As discussed in the Form 10-K, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. The presiding judge issued an initial decision in November 2016. In the initial decision, the presiding judge agreed with the Utility operating companies’ position that: (1) interest on the bandwidth payments for the 2005 test period should be accrued from June 1, 2006 until the date that the bandwidth payments for that calculation are paid, which is consistent with how the Utility operating companies performed the calculation; and (2) a portion of Entergy Louisiana’s 2001-vintage Louisiana state net operating loss accumulated deferred income tax that results from the Vidalia tax deduction should be excluded from the 2005 test period bandwidth calculation. Various participants filed briefs on exceptions and/or briefs opposing exceptions related to the initial decision, including the LPSC, the APSC, the FERC trial staff, and Entergy Services. In May 2018 the FERC issued an order affirming the initial decision and ordered a comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and a recalculation of the 2006 and 2007 test years as a result of limited revisions. Entergy filed the comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and the 2006 and 2007 test years in July 2018. The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 These payments were made in July 2018. In January 2019 the FERC denied the LPSC’s request for rehearing of the May 2018 order. In May 2019 the FERC accepted the July 2018 compliance filing, and the LPSC sought rehearing of that decision in June 2019. Rough Production Cost Equalization 2010 Rate Filing Based on Calendar Year 2009 Production Costs In May 2010, Entergy filed with the FERC the 2010 rates in accordance with the FERC’s orders in the System Agreement proceeding, and supplemented the filing in September 2010. Several parties intervened in the proceeding at the FERC, including the LPSC and the City Council, which also filed protests. In July 2010 the FERC accepted Entergy’s proposed rates for filing, effective June 1, 2010, subject to refund. After an abeyance of the proceeding schedule, a hearing was held in March 2014 and in December 2015 the FERC issued an order. Among other things, the December 2015 order directed Entergy to submit a compliance filing. In January 2016 the LPSC, the APSC, and Entergy filed requests for rehearing of the FERC’s December 2015 order. In February 2016, Entergy submitted the compliance filing ordered in the December 2015 order. The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) In September 2016 the FERC accepted the February 2016 compliance filing subject to a further compliance filing made in November 2016. The further compliance filing was required as a result of an order issued in September 2016 ruling on the January 2016 rehearing requests filed by the LPSC, the APSC, and Entergy. In the order addressing the rehearing requests, the FERC granted the LPSC’s rehearing request and directed that interest be calculated on the payment/receipt amounts. The FERC also granted the APSC’s and Entergy’s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation. In November 2016, Entergy submitted its compliance filing in response to the FERC’s order on rehearing. The compliance filing included a revised calculation of the bandwidth true-up payments and receipts based on 2009 test year data and interest calculations. The LPSC protested the interest calculations. I n November 2017 the FERC issued an order rejecting the November 2016 compliance filing. The FERC determined that the payments detailed in the November 2016 compliance filing did not include adequate interest for the payments from Entergy Arkansas to Entergy Louisiana because it did not include interest on the principal portion of the payment that was made in February 2016. In December 2017, Entergy recalculated the interest pursuant to the November 2017 order. As a result of the recalculations, Entergy Arkansas owed very minor payments to Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. In June 2019 the FERC issued an order denying the LPSC’s rehearing request of FERC’s September 2016 order. The LPSC rehearing request asked the FERC to reverse its decision that both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes should be removed from the bandwidth calculation. Entergy Arkansas Opportunity Sales Proceeding As discussed in the Form 10-K, in December 2018, Entergy made a compliance filing in response to the FERC’s October 2018 order in the opportunity sales proceeding. The compliance filing provided a final calculation of Entergy Arkansas’s payments to the other Utility operating companies, including interest. No protests were filed in response to the December 2018 compliance filing. The December 2018 compliance filing is pending FERC action. In February 2019 the LPSC filed a new complaint relating to two issues that were raised in the opportunity sales proceeding, but that, in its October 2018 order, the FERC held were outside the scope of the proceeding. In March 2019, Entergy Services filed an answer and motion to dismiss the new complaint. In May 2019, Entergy Arkansas filed an application and supporting testimony with the APSC requesting approval of a special rider tariff to recover the costs of these payments from its retail customers over a 24-month period. The application requested that the APSC approve the rider to take effect within 30 days or, if suspended by the APSC as allowed by commission rule, approve the rider to take effect in the first billing cycle of the first month occurring 30 days after issuance of the APSC’s order approving the rider. In June 2019 the APSC suspended Entergy Arkansas’s tariff and granted Entergy Arkansas’s motion asking the APSC to establish the proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC’s October 2018 order and related FERC orders in the opportunity sales proceeding. Complaints Against System Energy Return on Equity and Capital Structure Complaints See the Form 10-K for a discussion of the return on equity complaints filed by the APSC and the MPSC and by the LPSC against System Energy. The LPSC’s complaint also includes a challenge to System Energy’s capital structure. In August 2018 the FERC issued an order dismissing the LPSC’s request to investigate System Energy’s capital structure and setting for hearing the return on equity complaint, with a refund effective date of April 27, 2018. The portion of the LPSC’s complaint dealing with return on equity was subsequently consolidated with the APSC and MPSC complaint for hearing. The parties are required to address an order (issued in a separate proceeding involving New England transmission owners) that proposed modifying the FERC’s standard methodology for determining return on equity. In September 2018, System Energy filed a request for rehearing and the LPSC filed a request for rehearing or reconsideration of the FERC’s August 2018 order. The LPSC’s request referenced an amended complaint that it filed on the same day raising the same capital structure claim the FERC had earlier dismissed. The FERC initiated a new proceeding for the amended capital structure complaint, and System Energy submitted a response in October 2018. In January 2019 the FERC set the amended capital structure complaint for settlement and hearing proceedings. Settlement procedures in the capital structure proceeding commenced in February 2019. As noted below, in June 2019 settlement discussions were terminated and the amended capital structure complaint was consolidated with the ongoing return on equity proceeding. In January 2019 the LPSC and the APSC and MPSC filed direct testimony in the return on equity proceeding. For the refund period January 23, 2017 through April 23, 2018, the LPSC argues for an authorized return on equity for System Energy of 7.81% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.24% . For the refund period April 27, 2018 through July 27, 2019, and for application on a prospective basis, the LPSC argues for an authorized return on equity for System Energy of 7.97% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.41% . In March 2019, System Energy submitted answering testimony in the return on equity proceeding. For the first refund period, System Energy’s testimony argues for a return on equity of 10.10% (median) or 10.70% (midpoint). For the second refund period, System Energy’s testimony shows that the calculated returns on equity for the first period fall within the range of presumptively just and reasonable returns on equity, and thus the second complaint should be dismissed (and the first period return on equity used going forward). If the FERC nonetheless were to set a new return on equity for the second period (and going forward), System Energy argues the return on equity should be either 10.32% (median) or 10.69% (midpoint). In May 2019 the FERC trial staff filed its direct and answering testimony in the return on equity proceeding. For the first refund period, the FERC trial staff calculates an authorized return on equity for System Energy of 9.89% based on the application of FERC’s proposed methodology. The FERC trial staff’s direct and answering testimony noted that an authorized return on equity of 9.89% for the first refund period was within the range of presumptively just and reasonable returns on equity for the second refund period, as calculated using a study period ending January 31, 2019 for the second refund period. In June 2019, System Entergy filed testimony responding to the testimony filed by the FERC trial staff. Among other things, System Energy’s testimony rebutted arguments raised by the FERC trial staff and provided updated calculations for the second refund period based on the study period ending May 31, 2019. For that refund period, System Energy’s testimony shows that strict application of the return on equity methodology proposed by the FERC trial staff indicates that the second complaint would not be dismissed, and the ne |
Entergy Louisiana [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions were terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging the treatment and amount of excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2019, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit to customers for the recovery of the true-up adjustment resulting from the 2018 over-recovered retail balance of $0.1 million and the recovery of a $4.2 million payment to Entergy Arkansas as a result of the FERC’s May 2018 decision in the 2005 bandwidth proceeding, in which the FERC directed a compliance filing to be made that consisted of the comprehensive recalculation of the bandwidth formula rate with true-up payments and receipts based on test period data for June 1, 2005 through December 31, 2005. The rates for the 2019 production cost allocation rider update are effective July 2019 through June 2020. Energy Cost Recovery Rider In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied the Attorney General’s motion in the energy cost recovery proceeding seeking an investigation into Entergy Arkansas’s annual energy cost recovery rider adjustment and referred the evaluation of such matters to the opportunity sales recovery proceeding. Entergy Louisiana In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. In January 2019 the LPSC staff issued its audit report recommending that Entergy Louisiana refund approximately $7.3 million , plus interest, to customers based upon the imputation of a claim of vendor fault in servicing its nuclear plant. Entergy Louisiana recorded a provision in the first quarter 2019 for the potential outcome of the audit. In August 2019, Entergy Louisiana filed direct testimony challenging the basis for the LPSC staff’s recommended disallowance and providing an alternative calculation of replacement power costs should it be determined that a disallowance is appropriate. Entergy Louisiana’s calculation would require a refund to customers of approximately $4.2 million , plus interest, as compared to the LPSC staff’s recommendation of $7.3 million , plus interest. Responsive testimony was filed by the LPSC staff and intervenors in September 2019; all parties either agreed with or did not oppose Entergy Louisiana’s alternative calculation of replacement power costs. In September 2019 the procedural schedule was suspended to facilitate settlement negotiations. Entergy Mississippi Mississippi Attorney General Complaint As discussed in the Form 10-K, the Mississippi Attorney General filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. Entergy believes the complaint is unfounded. In December 2008 the Attorney General’s lawsuit was removed to U.S. District Court in Jackson, Mississippi. Pre-trial and settlement conferences were held in October 2018. In October 2018 the District Court rescheduled the trial to April 2019. In April 2019 the District Court remanded the Attorney General’s lawsuit to the Hinds County Chancery Court in Jackson, Mississippi. A hearing on procedural and dispositive motions was held in August 2019. Following the parties’ oral arguments, the Attorney General filed a post hearing brief, to which Entergy Mississippi filed a response. The motions remain pending before the chancellor of the Hinds County Chancery Court. Entergy Texas In September 2019, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period from April 2016 through March 2019. During the reconciliation period, Entergy Texas incurred approximately $1.6 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimated an under-recovery balance of approximately $25.8 million , including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2019. The proceeding is currently pending. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2019 Formula Rate Plan Filing In July 2019, Entergy Arkansas filed with the APSC its 2019 formula rate plan filing to set its formula rate for the 2020 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2020 and a netting adjustment for the historical year 2018. The total proposed formula rate plan rider revenue change designed to produce a target rate of return on common equity of 9.75% is $15.3 million , which is based upon a deficiency of approximately $61.9 million for the 2020 projected year, netted with a credit of approximately $46.6 million in the 2018 historical year netting adjustment. During 2018, Entergy Arkansas experienced higher-than expected sales volume, and actual costs were lower than forecasted. These changes, coupled with a reduced income tax rate resulting from the Tax Cuts and Jobs Act, resulted in the credit for the historical year netting adjustment. In the fourth quarter 2018, Entergy Arkansas recorded a provision of $35.1 million that reflected the estimate of the historical year netting adjustment that was expected to be included in the 2019 filing. In 2019, Entergy Arkansas recorded additional provisions totaling $11.5 million to reflect the updated estimate of the historical year netting adjustment included in the 2019 filing. In October 2019 other parties in the proceeding filed their errors and objections requesting certain adjustments to Entergy Arkansas’s filing, which, if granted, would reduce or eliminate Entergy Arkansas’s proposed revenue change. Entergy Arkansas filed its response addressing the requested adjustments in October 2019. In its response, Entergy Arkansas accepted certain of the adjustments recommended by the General Staff of the APSC that would reduce the proposed formula rate plan rider revenue change to $14 million . Entergy Arkansas disputed the remaining adjustments proposed by the parties. In October 2019, Entergy Arkansas filed a unanimous settlement agreement with the other parties in the proceeding seeking APSC approval of a revised total formula rate plan rider revenue change of $10.1 million . The proposed new formula rates would go into effect in January 2020. In its July 2019 formula rate plan filing, Entergy Arkansas proposed to recover an $11.2 million regulatory asset, amortized over five years, associated with specific costs related to the potential construction of scrubbers at the White Bluff plant. While Entergy Arkansas does not concede that the regulatory asset does not have merit, for purposes of reaching a settlement amount on the total formula rate plan rider change Entergy Arkansas agreed not to include the amounts associated with the White Bluff scrubber regulatory asset in the 2019 formula rate plan filing or future filings. Entergy Arkansas will record a write off of the $11.2 million White Bluff scrubber regulatory asset. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2017 Formula Rate Plan Filing Commercial operation at St. Charles Power Station commenced in May 2019. In May 2019, Entergy Louisiana filed an update to its 2017 formula rate plan evaluation report to include the estimated first-year revenue requirement of $109.5 million associated with the St. Charles Power Station. The resulting interim adjustment to rates became effective with the first billing cycle of June 2019. 2018 Formula Rate Plan Filing In May 2019, Entergy Louisiana filed its formula rate plan evaluation report for its 2018 calendar year operations. The 2018 test year evaluation report produced an earned return on common equity of 10.61% leading to a base rider formula rate plan revenue decrease of $8.9 million . While base rider formula rate plan revenue decreased as a result of this filing, overall formula rate plan revenues increased by approximately $118.7 million . This outcome is primarily driven by a reduction to the credits previously flowed through the tax reform adjustment mechanism and an increase in the transmission recovery mechanism, partially offset by reductions in the additional capacity mechanism revenue requirements and extraordinary cost items. The filing is subject to review by the LPSC. Resulting rates were implemented in September 2019, subject to refund due to contested issues. Entergy Louisiana also included in its filing a presentation of an initial proposal to combine the legacy Entergy Louisiana and legacy Entergy Gulf States Louisiana residential rates, which combination, if approved, would be accomplished on a revenue-neutral basis intended not to affect the rates of other customer classes. Entergy Louisiana contemplates that any combination of residential rates resulting from this request would be implemented with the results of the 2019 test year formula rate plan filing. Several parties intervened in the proceeding and the LPSC staff filed its report of objections/reservations in accordance with the applicable provisions of the formula rate plan. In its report the LPSC staff re-urged reservations with respect to the outstanding issues from the 2017 test year formula rate plan filing and disputed the inclusion of certain affiliate costs for test years 2017 and 2018. The LPSC staff objected to Entergy Louisiana’s proposal to combine residential rates but proposed the setting of a status conference to establish a procedural schedule to more fully address the issue. The LPSC staff also reserved its right to object to the treatment of the sale of Willow Glen reflected in the evaluation report and to the August 2019 compliance update, which was made primarily to update the capital additions reflected in the formula rate plan’s transmission recovery mechanism, based on limited time to review it. Additionally, since the completion of certain transmission projects, the LPSC staff has issued supplemental data requests addressing the prudence of Entergy Louisiana’s expenditures in connection with those projects. Entergy Louisiana is in the process of responding to those requests. Investigation of Costs Billed by Entergy Services In November 2018 the LPSC issued a notice of proceeding initiating an investigation into costs incurred by Entergy Services that are included in the retail rates of Entergy Louisiana. As noted in the notice of proceeding, the LPSC observed an increase in capital construction-related costs that have been incurred by Entergy Services. Discovery is ongoing and has included efforts to seek highly detailed information on a broad range of matters unrelated to the scope of the audit. Retail Rates - Gas 2018 Rate Stabilization Plan Filing As discussed in the Form 10-K, in January 2019, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2018. Entergy Louisiana made a compliance filing in April 2019 and rates were implemented during the first billing cycle of May 2019, subject to refund and final LPSC review. Gas Rate Stabilization Plan Extension Request In August 2019, Entergy Louisiana submitted an application to the LPSC seeking extension of the gas rate stabilization plan for the 2019-2021 test years. The LPSC has established a procedural schedule to address this request with a hearing scheduled in May 2020. Filings with the MPSC (Entergy Mississippi) Formula Rate Plan In March 2019, Entergy Mississippi submitted its formula rate plan 2019 test year filing and 2018 look-back filing showing Entergy Mississippi’s earned return for the historical 2018 calendar year to be above the formula rate plan bandwidth and projected earned return for the 2019 calendar year to be below the formula rate plan bandwidth. The 2019 test year filing shows a $36.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.94% return on rate base, within the formula rate plan bandwidth. The 2018 look-back filing compares actual 2018 results to the approved benchmark return on rate base and shows a $10.1 million interim decrease in formula rate plan revenues is necessary. In the fourth quarter 2018, Entergy Mississippi recorded a provision of $9.3 million that reflected the estimate of the difference between the 2018 expected earned rate of return on rate base and an established performance-adjusted benchmark rate of return under the formula rate plan performance-adjusted bandwidth mechanism. In the first quarter 2019, Entergy Mississippi recorded an increase of $0.8 million in the provision to reflect the amount shown in the look-back filing. In June 2019, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed that the 2019 test year filing showed that a $32.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.93% return on rate base, within the formula rate plan bandwidth. Additionally, pursuant to the joint stipulation, Entergy Mississippi’s 2018 look-back filing reflected an earned return on rate base of 7.81% in calendar year 2018 which is above the look-back benchmark return on rate base of 7.13% , resulting in an $11 million decrease in formula rate plan revenues on an interim basis through June 2020. In the second quarter 2019, Entergy Mississippi recorded an additional $0.9 million increase in the provision to reflect the $11 million shown in the look-back filing. In June 2019 the MPSC approved the joint stipulation with rates effective for the first billing cycle of July 2019. Filings with the City Council (Entergy New Orleans) Retail Rates See the Form 10-K for discussion of the electric and gas base rate case filed by Entergy New Orleans in September 2018. The evidentiary hearing in this proceeding was held in June 2019. The record and post-hearing briefs were submitted in July 2019. In August 2019, Entergy New Orleans sent a letter to the City Council proposing a framework for settlement of the rate case. That framework includes, among other things: (1) a total reduction in revenues of approximately $30 million ( $27 million electric, $3 million gas); (2) a reduced return on common equity lower than 10.5% , but still commensurate with Entergy New Orleans’s level of risk, paired with three-year electric and gas formula rate plans with forward-looking features; (3) a demand-side management program intended to achieve greater penetration of the City Council’s Energy Smart programs and make progress towards the City Council’s energy efficiency goals. In October 2019 the City Council’s Utility Committee approved a resolution for consideration by the full City Council that included a 9.35% return on common equity, a total reduction in revenues of approximately $39 million ( $36 million electric; $3 million gas), and an equity ratio of the lesser of 50% or Entergy New Orleans’s actual equity ratio. Also in October 2019, Entergy New Orleans sent another letter to the City Council identifying certain issues with the proposed resolution and inviting the City Council to resume negotiations in an effort to address these issues. The City Council may consider the resolution at its November 7, 2019 meeting. Filings with the PUCT (Entergy Texas) Base Rate Case In January 2019, Entergy Texas filed for recovery of rate case expenses totaling $7.2 million . The amounts requested primarily include internal and external expenses related to litigating the 2018 base rate case. Parties filed testimony in April 2019 recommending a disallowance ranging from $3.2 million to $4.2 million of the $7.2 million requested. In May 2019, Entergy Texas filed rebuttal testimony responding to the parties’ positions . In September 2019 an order was issued abating the procedural schedule and scheduled hearing to allow the finalization of a settlement in principle reached among the parties. The settlement provides for a black box disallowance of $1.4 million . In the third quarter 2019, Entergy Texas recorded a provision for the 2018 base rate case expenses based on the settlement in principle. In October 2019 the settlement was filed for review by the PUCT. Other Filings In March 2019, Entergy Texas filed with the PUCT a request to set a new distribution cost recovery factor (DCRF) rider. The proposed new DCRF rider is designed to collect approximately $3.2 million annually from Entergy Texas’s retail customers based on its capital invested in distribution between January 1, 2018 and December 31, 2018. In September 2019 the PUCT issued an order approving rates, which had been effective on an interim basis since June 2019, at the level proposed in Entergy Texas’s application. In December 2018, Entergy Texas filed with the PUCT a request to set a new transmission cost recovery factor (TCRF) rider. The proposed new TCRF rider is designed to collect approximately $2.7 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and September 30, 2018. In April 2019 parties filed testimony proposing a load growth adjustment, which would have fully offset Entergy Texas’s proposed TCRF revenue requirement. In July 2019 the PUCT granted Entergy Texas’s application as filed to begin recovery of the requested $2.7 million annual revenue requirement, rejecting opposing parties’ proposed adjustment; however, the PUCT found that the question of prudence of the actual investment costs should be determined in Entergy Texas’s next rate case similar to the procedure used for the costs recovered through the DCRF rider. In October 2019 the PUCT issued an order on a motion for rehearing, clarifying and affirming its prior order granting Entergy Texas’s application as filed. Also in October 2019 a second motion for rehearing was filed, and Entergy Texas filed a response in opposition to the motion. The second motion for rehearing is pending before the PUCT. In August 2019, Entergy Texas filed with the PUCT a request to amend its TCRF rider. The proposed new TCRF rider is designed to collect approximately $19.4 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and June 30, 2019, which is $16.7 million in incremental annual revenue above the $2.7 million approved in the prior pending TCRF proceeding. The proceeding is currently pending. System Agreement Cost Equalization Proceedings As discussed in the Form 10-K, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. The presiding judge issued an initial decision in November 2016. In the initial decision, the presiding judge agreed with the Utility operating companies’ position that: (1) interest on the bandwidth payments for the 2005 test period should be accrued from June 1, 2006 until the date that the bandwidth payments for that calculation are paid, which is consistent with how the Utility operating companies performed the calculation; and (2) a portion of Entergy Louisiana’s 2001-vintage Louisiana state net operating loss accumulated deferred income tax that results from the Vidalia tax deduction should be excluded from the 2005 test period bandwidth calculation. Various participants filed briefs on exceptions and/or briefs opposing exceptions related to the initial decision, including the LPSC, the APSC, the FERC trial staff, and Entergy Services. In May 2018 the FERC issued an order affirming the initial decision and ordered a comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and a recalculation of the 2006 and 2007 test years as a result of limited revisions. Entergy filed the comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and the 2006 and 2007 test years in July 2018. The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 These payments were made in July 2018. In January 2019 the FERC denied the LPSC’s request for rehearing of the May 2018 order. In May 2019 the FERC accepted the July 2018 compliance filing, and the LPSC sought rehearing of that decision in June 2019. Rough Production Cost Equalization 2010 Rate Filing Based on Calendar Year 2009 Production Costs In May 2010, Entergy filed with the FERC the 2010 rates in accordance with the FERC’s orders in the System Agreement proceeding, and supplemented the filing in September 2010. Several parties intervened in the proceeding at the FERC, including the LPSC and the City Council, which also filed protests. In July 2010 the FERC accepted Entergy’s proposed rates for filing, effective June 1, 2010, subject to refund. After an abeyance of the proceeding schedule, a hearing was held in March 2014 and in December 2015 the FERC issued an order. Among other things, the December 2015 order directed Entergy to submit a compliance filing. In January 2016 the LPSC, the APSC, and Entergy filed requests for rehearing of the FERC’s December 2015 order. In February 2016, Entergy submitted the compliance filing ordered in the December 2015 order. The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) In September 2016 the FERC accepted the February 2016 compliance filing subject to a further compliance filing made in November 2016. The further compliance filing was required as a result of an order issued in September 2016 ruling on the January 2016 rehearing requests filed by the LPSC, the APSC, and Entergy. In the order addressing the rehearing requests, the FERC granted the LPSC’s rehearing request and directed that interest be calculated on the payment/receipt amounts. The FERC also granted the APSC’s and Entergy’s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation. In November 2016, Entergy submitted its compliance filing in response to the FERC’s order on rehearing. The compliance filing included a revised calculation of the bandwidth true-up payments and receipts based on 2009 test year data and interest calculations. The LPSC protested the interest calculations. I n November 2017 the FERC issued an order rejecting the November 2016 compliance filing. The FERC determined that the payments detailed in the November 2016 compliance filing did not include adequate interest for the payments from Entergy Arkansas to Entergy Louisiana because it did not include interest on the principal portion of the payment that was made in February 2016. In December 2017, Entergy recalculated the interest pursuant to the November 2017 order. As a result of the recalculations, Entergy Arkansas owed very minor payments to Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. In June 2019 the FERC issued an order denying the LPSC’s rehearing request of FERC’s September 2016 order. The LPSC rehearing request asked the FERC to reverse its decision that both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes should be removed from the bandwidth calculation. Entergy Arkansas Opportunity Sales Proceeding As discussed in the Form 10-K, in December 2018, Entergy made a compliance filing in response to the FERC’s October 2018 order in the opportunity sales proceeding. The compliance filing provided a final calculation of Entergy Arkansas’s payments to the other Utility operating companies, including interest. No protests were filed in response to the December 2018 compliance filing. The December 2018 compliance filing is pending FERC action. In February 2019 the LPSC filed a new complaint relating to two issues that were raised in the opportunity sales proceeding, but that, in its October 2018 order, the FERC held were outside the scope of the proceeding. In March 2019, Entergy Services filed an answer and motion to dismiss the new complaint. In May 2019, Entergy Arkansas filed an application and supporting testimony with the APSC requesting approval of a special rider tariff to recover the costs of these payments from its retail customers over a 24-month period. The application requested that the APSC approve the rider to take effect within 30 days or, if suspended by the APSC as allowed by commission rule, approve the rider to take effect in the first billing cycle of the first month occurring 30 days after issuance of the APSC’s order approving the rider. In June 2019 the APSC suspended Entergy Arkansas’s tariff and granted Entergy Arkansas’s motion asking the APSC to establish the proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC’s October 2018 order and related FERC orders in the opportunity sales proceeding. Complaints Against System Energy Return on Equity and Capital Structure Complaints See the Form 10-K for a discussion of the return on equity complaints filed by the APSC and the MPSC and by the LPSC against System Energy. The LPSC’s complaint also includes a challenge to System Energy’s capital structure. In August 2018 the FERC issued an order dismissing the LPSC’s request to investigate System Energy’s capital structure and setting for hearing the return on equity complaint, with a refund effective date of April 27, 2018. The portion of the LPSC’s complaint dealing with return on equity was subsequently consolidated with the APSC and MPSC complaint for hearing. The parties are required to address an order (issued in a separate proceeding involving New England transmission owners) that proposed modifying the FERC’s standard methodology for determining return on equity. In September 2018, System Energy filed a request for rehearing and the LPSC filed a request for rehearing or reconsideration of the FERC’s August 2018 order. The LPSC’s request referenced an amended complaint that it filed on the same day raising the same capital structure claim the FERC had earlier dismissed. The FERC initiated a new proceeding for the amended capital structure complaint, and System Energy submitted a response in October 2018. In January 2019 the FERC set the amended capital structure complaint for settlement and hearing proceedings. Settlement procedures in the capital structure proceeding commenced in February 2019. As noted below, in June 2019 settlement discussions were terminated and the amended capital structure complaint was consolidated with the ongoing return on equity proceeding. In January 2019 the LPSC and the APSC and MPSC filed direct testimony in the return on equity proceeding. For the refund period January 23, 2017 through April 23, 2018, the LPSC argues for an authorized return on equity for System Energy of 7.81% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.24% . For the refund period April 27, 2018 through July 27, 2019, and for application on a prospective basis, the LPSC argues for an authorized return on equity for System Energy of 7.97% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.41% . In March 2019, System Energy submitted answering testimony in the return on equity proceeding. For the first refund period, System Energy’s testimony argues for a return on equity of 10.10% (median) or 10.70% (midpoint). For the second refund period, System Energy’s testimony shows that the calculated returns on equity for the first period fall within the range of presumptively just and reasonable returns on equity, and thus the second complaint should be dismissed (and the first period return on equity used going forward). If the FERC nonetheless were to set a new return on equity for the second period (and going forward), System Energy argues the return on equity should be either 10.32% (median) or 10.69% (midpoint). In May 2019 the FERC trial staff filed its direct and answering testimony in the return on equity proceeding. For the first refund period, the FERC trial staff calculates an authorized return on equity for System Energy of 9.89% based on the application of FERC’s proposed methodology. The FERC trial staff’s direct and answering testimony noted that an authorized return on equity of 9.89% for the first refund period was within the range of presumptively just and reasonable returns on equity for the second refund period, as calculated using a study period ending January 31, 2019 for the second refund period. In June 2019, System Entergy filed testimony responding to the testimony filed by the FERC trial staff. Among other things, System Energy’s testimony rebutted arguments raised by the FERC trial staff and provided updated calculations for the second refund period based on the study period ending May 31, 2019. For that refund period, System Energy’s testimony shows that strict application of the return on equity methodology proposed by the FERC trial staff indicates that the second complaint would not be dismissed, and the ne |
Entergy Mississippi [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions were terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging the treatment and amount of excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2019, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit to customers for the recovery of the true-up adjustment resulting from the 2018 over-recovered retail balance of $0.1 million and the recovery of a $4.2 million payment to Entergy Arkansas as a result of the FERC’s May 2018 decision in the 2005 bandwidth proceeding, in which the FERC directed a compliance filing to be made that consisted of the comprehensive recalculation of the bandwidth formula rate with true-up payments and receipts based on test period data for June 1, 2005 through December 31, 2005. The rates for the 2019 production cost allocation rider update are effective July 2019 through June 2020. Energy Cost Recovery Rider In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied the Attorney General’s motion in the energy cost recovery proceeding seeking an investigation into Entergy Arkansas’s annual energy cost recovery rider adjustment and referred the evaluation of such matters to the opportunity sales recovery proceeding. Entergy Louisiana In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. In January 2019 the LPSC staff issued its audit report recommending that Entergy Louisiana refund approximately $7.3 million , plus interest, to customers based upon the imputation of a claim of vendor fault in servicing its nuclear plant. Entergy Louisiana recorded a provision in the first quarter 2019 for the potential outcome of the audit. In August 2019, Entergy Louisiana filed direct testimony challenging the basis for the LPSC staff’s recommended disallowance and providing an alternative calculation of replacement power costs should it be determined that a disallowance is appropriate. Entergy Louisiana’s calculation would require a refund to customers of approximately $4.2 million , plus interest, as compared to the LPSC staff’s recommendation of $7.3 million , plus interest. Responsive testimony was filed by the LPSC staff and intervenors in September 2019; all parties either agreed with or did not oppose Entergy Louisiana’s alternative calculation of replacement power costs. In September 2019 the procedural schedule was suspended to facilitate settlement negotiations. Entergy Mississippi Mississippi Attorney General Complaint As discussed in the Form 10-K, the Mississippi Attorney General filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. Entergy believes the complaint is unfounded. In December 2008 the Attorney General’s lawsuit was removed to U.S. District Court in Jackson, Mississippi. Pre-trial and settlement conferences were held in October 2018. In October 2018 the District Court rescheduled the trial to April 2019. In April 2019 the District Court remanded the Attorney General’s lawsuit to the Hinds County Chancery Court in Jackson, Mississippi. A hearing on procedural and dispositive motions was held in August 2019. Following the parties’ oral arguments, the Attorney General filed a post hearing brief, to which Entergy Mississippi filed a response. The motions remain pending before the chancellor of the Hinds County Chancery Court. Entergy Texas In September 2019, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period from April 2016 through March 2019. During the reconciliation period, Entergy Texas incurred approximately $1.6 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimated an under-recovery balance of approximately $25.8 million , including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2019. The proceeding is currently pending. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2019 Formula Rate Plan Filing In July 2019, Entergy Arkansas filed with the APSC its 2019 formula rate plan filing to set its formula rate for the 2020 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2020 and a netting adjustment for the historical year 2018. The total proposed formula rate plan rider revenue change designed to produce a target rate of return on common equity of 9.75% is $15.3 million , which is based upon a deficiency of approximately $61.9 million for the 2020 projected year, netted with a credit of approximately $46.6 million in the 2018 historical year netting adjustment. During 2018, Entergy Arkansas experienced higher-than expected sales volume, and actual costs were lower than forecasted. These changes, coupled with a reduced income tax rate resulting from the Tax Cuts and Jobs Act, resulted in the credit for the historical year netting adjustment. In the fourth quarter 2018, Entergy Arkansas recorded a provision of $35.1 million that reflected the estimate of the historical year netting adjustment that was expected to be included in the 2019 filing. In 2019, Entergy Arkansas recorded additional provisions totaling $11.5 million to reflect the updated estimate of the historical year netting adjustment included in the 2019 filing. In October 2019 other parties in the proceeding filed their errors and objections requesting certain adjustments to Entergy Arkansas’s filing, which, if granted, would reduce or eliminate Entergy Arkansas’s proposed revenue change. Entergy Arkansas filed its response addressing the requested adjustments in October 2019. In its response, Entergy Arkansas accepted certain of the adjustments recommended by the General Staff of the APSC that would reduce the proposed formula rate plan rider revenue change to $14 million . Entergy Arkansas disputed the remaining adjustments proposed by the parties. In October 2019, Entergy Arkansas filed a unanimous settlement agreement with the other parties in the proceeding seeking APSC approval of a revised total formula rate plan rider revenue change of $10.1 million . The proposed new formula rates would go into effect in January 2020. In its July 2019 formula rate plan filing, Entergy Arkansas proposed to recover an $11.2 million regulatory asset, amortized over five years, associated with specific costs related to the potential construction of scrubbers at the White Bluff plant. While Entergy Arkansas does not concede that the regulatory asset does not have merit, for purposes of reaching a settlement amount on the total formula rate plan rider change Entergy Arkansas agreed not to include the amounts associated with the White Bluff scrubber regulatory asset in the 2019 formula rate plan filing or future filings. Entergy Arkansas will record a write off of the $11.2 million White Bluff scrubber regulatory asset. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2017 Formula Rate Plan Filing Commercial operation at St. Charles Power Station commenced in May 2019. In May 2019, Entergy Louisiana filed an update to its 2017 formula rate plan evaluation report to include the estimated first-year revenue requirement of $109.5 million associated with the St. Charles Power Station. The resulting interim adjustment to rates became effective with the first billing cycle of June 2019. 2018 Formula Rate Plan Filing In May 2019, Entergy Louisiana filed its formula rate plan evaluation report for its 2018 calendar year operations. The 2018 test year evaluation report produced an earned return on common equity of 10.61% leading to a base rider formula rate plan revenue decrease of $8.9 million . While base rider formula rate plan revenue decreased as a result of this filing, overall formula rate plan revenues increased by approximately $118.7 million . This outcome is primarily driven by a reduction to the credits previously flowed through the tax reform adjustment mechanism and an increase in the transmission recovery mechanism, partially offset by reductions in the additional capacity mechanism revenue requirements and extraordinary cost items. The filing is subject to review by the LPSC. Resulting rates were implemented in September 2019, subject to refund due to contested issues. Entergy Louisiana also included in its filing a presentation of an initial proposal to combine the legacy Entergy Louisiana and legacy Entergy Gulf States Louisiana residential rates, which combination, if approved, would be accomplished on a revenue-neutral basis intended not to affect the rates of other customer classes. Entergy Louisiana contemplates that any combination of residential rates resulting from this request would be implemented with the results of the 2019 test year formula rate plan filing. Several parties intervened in the proceeding and the LPSC staff filed its report of objections/reservations in accordance with the applicable provisions of the formula rate plan. In its report the LPSC staff re-urged reservations with respect to the outstanding issues from the 2017 test year formula rate plan filing and disputed the inclusion of certain affiliate costs for test years 2017 and 2018. The LPSC staff objected to Entergy Louisiana’s proposal to combine residential rates but proposed the setting of a status conference to establish a procedural schedule to more fully address the issue. The LPSC staff also reserved its right to object to the treatment of the sale of Willow Glen reflected in the evaluation report and to the August 2019 compliance update, which was made primarily to update the capital additions reflected in the formula rate plan’s transmission recovery mechanism, based on limited time to review it. Additionally, since the completion of certain transmission projects, the LPSC staff has issued supplemental data requests addressing the prudence of Entergy Louisiana’s expenditures in connection with those projects. Entergy Louisiana is in the process of responding to those requests. Investigation of Costs Billed by Entergy Services In November 2018 the LPSC issued a notice of proceeding initiating an investigation into costs incurred by Entergy Services that are included in the retail rates of Entergy Louisiana. As noted in the notice of proceeding, the LPSC observed an increase in capital construction-related costs that have been incurred by Entergy Services. Discovery is ongoing and has included efforts to seek highly detailed information on a broad range of matters unrelated to the scope of the audit. Retail Rates - Gas 2018 Rate Stabilization Plan Filing As discussed in the Form 10-K, in January 2019, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2018. Entergy Louisiana made a compliance filing in April 2019 and rates were implemented during the first billing cycle of May 2019, subject to refund and final LPSC review. Gas Rate Stabilization Plan Extension Request In August 2019, Entergy Louisiana submitted an application to the LPSC seeking extension of the gas rate stabilization plan for the 2019-2021 test years. The LPSC has established a procedural schedule to address this request with a hearing scheduled in May 2020. Filings with the MPSC (Entergy Mississippi) Formula Rate Plan In March 2019, Entergy Mississippi submitted its formula rate plan 2019 test year filing and 2018 look-back filing showing Entergy Mississippi’s earned return for the historical 2018 calendar year to be above the formula rate plan bandwidth and projected earned return for the 2019 calendar year to be below the formula rate plan bandwidth. The 2019 test year filing shows a $36.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.94% return on rate base, within the formula rate plan bandwidth. The 2018 look-back filing compares actual 2018 results to the approved benchmark return on rate base and shows a $10.1 million interim decrease in formula rate plan revenues is necessary. In the fourth quarter 2018, Entergy Mississippi recorded a provision of $9.3 million that reflected the estimate of the difference between the 2018 expected earned rate of return on rate base and an established performance-adjusted benchmark rate of return under the formula rate plan performance-adjusted bandwidth mechanism. In the first quarter 2019, Entergy Mississippi recorded an increase of $0.8 million in the provision to reflect the amount shown in the look-back filing. In June 2019, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed that the 2019 test year filing showed that a $32.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.93% return on rate base, within the formula rate plan bandwidth. Additionally, pursuant to the joint stipulation, Entergy Mississippi’s 2018 look-back filing reflected an earned return on rate base of 7.81% in calendar year 2018 which is above the look-back benchmark return on rate base of 7.13% , resulting in an $11 million decrease in formula rate plan revenues on an interim basis through June 2020. In the second quarter 2019, Entergy Mississippi recorded an additional $0.9 million increase in the provision to reflect the $11 million shown in the look-back filing. In June 2019 the MPSC approved the joint stipulation with rates effective for the first billing cycle of July 2019. Filings with the City Council (Entergy New Orleans) Retail Rates See the Form 10-K for discussion of the electric and gas base rate case filed by Entergy New Orleans in September 2018. The evidentiary hearing in this proceeding was held in June 2019. The record and post-hearing briefs were submitted in July 2019. In August 2019, Entergy New Orleans sent a letter to the City Council proposing a framework for settlement of the rate case. That framework includes, among other things: (1) a total reduction in revenues of approximately $30 million ( $27 million electric, $3 million gas); (2) a reduced return on common equity lower than 10.5% , but still commensurate with Entergy New Orleans’s level of risk, paired with three-year electric and gas formula rate plans with forward-looking features; (3) a demand-side management program intended to achieve greater penetration of the City Council’s Energy Smart programs and make progress towards the City Council’s energy efficiency goals. In October 2019 the City Council’s Utility Committee approved a resolution for consideration by the full City Council that included a 9.35% return on common equity, a total reduction in revenues of approximately $39 million ( $36 million electric; $3 million gas), and an equity ratio of the lesser of 50% or Entergy New Orleans’s actual equity ratio. Also in October 2019, Entergy New Orleans sent another letter to the City Council identifying certain issues with the proposed resolution and inviting the City Council to resume negotiations in an effort to address these issues. The City Council may consider the resolution at its November 7, 2019 meeting. Filings with the PUCT (Entergy Texas) Base Rate Case In January 2019, Entergy Texas filed for recovery of rate case expenses totaling $7.2 million . The amounts requested primarily include internal and external expenses related to litigating the 2018 base rate case. Parties filed testimony in April 2019 recommending a disallowance ranging from $3.2 million to $4.2 million of the $7.2 million requested. In May 2019, Entergy Texas filed rebuttal testimony responding to the parties’ positions . In September 2019 an order was issued abating the procedural schedule and scheduled hearing to allow the finalization of a settlement in principle reached among the parties. The settlement provides for a black box disallowance of $1.4 million . In the third quarter 2019, Entergy Texas recorded a provision for the 2018 base rate case expenses based on the settlement in principle. In October 2019 the settlement was filed for review by the PUCT. Other Filings In March 2019, Entergy Texas filed with the PUCT a request to set a new distribution cost recovery factor (DCRF) rider. The proposed new DCRF rider is designed to collect approximately $3.2 million annually from Entergy Texas’s retail customers based on its capital invested in distribution between January 1, 2018 and December 31, 2018. In September 2019 the PUCT issued an order approving rates, which had been effective on an interim basis since June 2019, at the level proposed in Entergy Texas’s application. In December 2018, Entergy Texas filed with the PUCT a request to set a new transmission cost recovery factor (TCRF) rider. The proposed new TCRF rider is designed to collect approximately $2.7 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and September 30, 2018. In April 2019 parties filed testimony proposing a load growth adjustment, which would have fully offset Entergy Texas’s proposed TCRF revenue requirement. In July 2019 the PUCT granted Entergy Texas’s application as filed to begin recovery of the requested $2.7 million annual revenue requirement, rejecting opposing parties’ proposed adjustment; however, the PUCT found that the question of prudence of the actual investment costs should be determined in Entergy Texas’s next rate case similar to the procedure used for the costs recovered through the DCRF rider. In October 2019 the PUCT issued an order on a motion for rehearing, clarifying and affirming its prior order granting Entergy Texas’s application as filed. Also in October 2019 a second motion for rehearing was filed, and Entergy Texas filed a response in opposition to the motion. The second motion for rehearing is pending before the PUCT. In August 2019, Entergy Texas filed with the PUCT a request to amend its TCRF rider. The proposed new TCRF rider is designed to collect approximately $19.4 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and June 30, 2019, which is $16.7 million in incremental annual revenue above the $2.7 million approved in the prior pending TCRF proceeding. The proceeding is currently pending. System Agreement Cost Equalization Proceedings As discussed in the Form 10-K, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. The presiding judge issued an initial decision in November 2016. In the initial decision, the presiding judge agreed with the Utility operating companies’ position that: (1) interest on the bandwidth payments for the 2005 test period should be accrued from June 1, 2006 until the date that the bandwidth payments for that calculation are paid, which is consistent with how the Utility operating companies performed the calculation; and (2) a portion of Entergy Louisiana’s 2001-vintage Louisiana state net operating loss accumulated deferred income tax that results from the Vidalia tax deduction should be excluded from the 2005 test period bandwidth calculation. Various participants filed briefs on exceptions and/or briefs opposing exceptions related to the initial decision, including the LPSC, the APSC, the FERC trial staff, and Entergy Services. In May 2018 the FERC issued an order affirming the initial decision and ordered a comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and a recalculation of the 2006 and 2007 test years as a result of limited revisions. Entergy filed the comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and the 2006 and 2007 test years in July 2018. The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 These payments were made in July 2018. In January 2019 the FERC denied the LPSC’s request for rehearing of the May 2018 order. In May 2019 the FERC accepted the July 2018 compliance filing, and the LPSC sought rehearing of that decision in June 2019. Rough Production Cost Equalization 2010 Rate Filing Based on Calendar Year 2009 Production Costs In May 2010, Entergy filed with the FERC the 2010 rates in accordance with the FERC’s orders in the System Agreement proceeding, and supplemented the filing in September 2010. Several parties intervened in the proceeding at the FERC, including the LPSC and the City Council, which also filed protests. In July 2010 the FERC accepted Entergy’s proposed rates for filing, effective June 1, 2010, subject to refund. After an abeyance of the proceeding schedule, a hearing was held in March 2014 and in December 2015 the FERC issued an order. Among other things, the December 2015 order directed Entergy to submit a compliance filing. In January 2016 the LPSC, the APSC, and Entergy filed requests for rehearing of the FERC’s December 2015 order. In February 2016, Entergy submitted the compliance filing ordered in the December 2015 order. The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) In September 2016 the FERC accepted the February 2016 compliance filing subject to a further compliance filing made in November 2016. The further compliance filing was required as a result of an order issued in September 2016 ruling on the January 2016 rehearing requests filed by the LPSC, the APSC, and Entergy. In the order addressing the rehearing requests, the FERC granted the LPSC’s rehearing request and directed that interest be calculated on the payment/receipt amounts. The FERC also granted the APSC’s and Entergy’s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation. In November 2016, Entergy submitted its compliance filing in response to the FERC’s order on rehearing. The compliance filing included a revised calculation of the bandwidth true-up payments and receipts based on 2009 test year data and interest calculations. The LPSC protested the interest calculations. I n November 2017 the FERC issued an order rejecting the November 2016 compliance filing. The FERC determined that the payments detailed in the November 2016 compliance filing did not include adequate interest for the payments from Entergy Arkansas to Entergy Louisiana because it did not include interest on the principal portion of the payment that was made in February 2016. In December 2017, Entergy recalculated the interest pursuant to the November 2017 order. As a result of the recalculations, Entergy Arkansas owed very minor payments to Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. In June 2019 the FERC issued an order denying the LPSC’s rehearing request of FERC’s September 2016 order. The LPSC rehearing request asked the FERC to reverse its decision that both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes should be removed from the bandwidth calculation. Entergy Arkansas Opportunity Sales Proceeding As discussed in the Form 10-K, in December 2018, Entergy made a compliance filing in response to the FERC’s October 2018 order in the opportunity sales proceeding. The compliance filing provided a final calculation of Entergy Arkansas’s payments to the other Utility operating companies, including interest. No protests were filed in response to the December 2018 compliance filing. The December 2018 compliance filing is pending FERC action. In February 2019 the LPSC filed a new complaint relating to two issues that were raised in the opportunity sales proceeding, but that, in its October 2018 order, the FERC held were outside the scope of the proceeding. In March 2019, Entergy Services filed an answer and motion to dismiss the new complaint. In May 2019, Entergy Arkansas filed an application and supporting testimony with the APSC requesting approval of a special rider tariff to recover the costs of these payments from its retail customers over a 24-month period. The application requested that the APSC approve the rider to take effect within 30 days or, if suspended by the APSC as allowed by commission rule, approve the rider to take effect in the first billing cycle of the first month occurring 30 days after issuance of the APSC’s order approving the rider. In June 2019 the APSC suspended Entergy Arkansas’s tariff and granted Entergy Arkansas’s motion asking the APSC to establish the proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC’s October 2018 order and related FERC orders in the opportunity sales proceeding. Complaints Against System Energy Return on Equity and Capital Structure Complaints See the Form 10-K for a discussion of the return on equity complaints filed by the APSC and the MPSC and by the LPSC against System Energy. The LPSC’s complaint also includes a challenge to System Energy’s capital structure. In August 2018 the FERC issued an order dismissing the LPSC’s request to investigate System Energy’s capital structure and setting for hearing the return on equity complaint, with a refund effective date of April 27, 2018. The portion of the LPSC’s complaint dealing with return on equity was subsequently consolidated with the APSC and MPSC complaint for hearing. The parties are required to address an order (issued in a separate proceeding involving New England transmission owners) that proposed modifying the FERC’s standard methodology for determining return on equity. In September 2018, System Energy filed a request for rehearing and the LPSC filed a request for rehearing or reconsideration of the FERC’s August 2018 order. The LPSC’s request referenced an amended complaint that it filed on the same day raising the same capital structure claim the FERC had earlier dismissed. The FERC initiated a new proceeding for the amended capital structure complaint, and System Energy submitted a response in October 2018. In January 2019 the FERC set the amended capital structure complaint for settlement and hearing proceedings. Settlement procedures in the capital structure proceeding commenced in February 2019. As noted below, in June 2019 settlement discussions were terminated and the amended capital structure complaint was consolidated with the ongoing return on equity proceeding. In January 2019 the LPSC and the APSC and MPSC filed direct testimony in the return on equity proceeding. For the refund period January 23, 2017 through April 23, 2018, the LPSC argues for an authorized return on equity for System Energy of 7.81% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.24% . For the refund period April 27, 2018 through July 27, 2019, and for application on a prospective basis, the LPSC argues for an authorized return on equity for System Energy of 7.97% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.41% . In March 2019, System Energy submitted answering testimony in the return on equity proceeding. For the first refund period, System Energy’s testimony argues for a return on equity of 10.10% (median) or 10.70% (midpoint). For the second refund period, System Energy’s testimony shows that the calculated returns on equity for the first period fall within the range of presumptively just and reasonable returns on equity, and thus the second complaint should be dismissed (and the first period return on equity used going forward). If the FERC nonetheless were to set a new return on equity for the second period (and going forward), System Energy argues the return on equity should be either 10.32% (median) or 10.69% (midpoint). In May 2019 the FERC trial staff filed its direct and answering testimony in the return on equity proceeding. For the first refund period, the FERC trial staff calculates an authorized return on equity for System Energy of 9.89% based on the application of FERC’s proposed methodology. The FERC trial staff’s direct and answering testimony noted that an authorized return on equity of 9.89% for the first refund period was within the range of presumptively just and reasonable returns on equity for the second refund period, as calculated using a study period ending January 31, 2019 for the second refund period. In June 2019, System Entergy filed testimony responding to the testimony filed by the FERC trial staff. Among other things, System Energy’s testimony rebutted arguments raised by the FERC trial staff and provided updated calculations for the second refund period based on the study period ending May 31, 2019. For that refund period, System Energy’s testimony shows that strict application of the return on equity methodology proposed by the FERC trial staff indicates that the second complaint would not be dismissed, and the ne |
Entergy New Orleans [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions were terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging the treatment and amount of excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2019, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit to customers for the recovery of the true-up adjustment resulting from the 2018 over-recovered retail balance of $0.1 million and the recovery of a $4.2 million payment to Entergy Arkansas as a result of the FERC’s May 2018 decision in the 2005 bandwidth proceeding, in which the FERC directed a compliance filing to be made that consisted of the comprehensive recalculation of the bandwidth formula rate with true-up payments and receipts based on test period data for June 1, 2005 through December 31, 2005. The rates for the 2019 production cost allocation rider update are effective July 2019 through June 2020. Energy Cost Recovery Rider In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied the Attorney General’s motion in the energy cost recovery proceeding seeking an investigation into Entergy Arkansas’s annual energy cost recovery rider adjustment and referred the evaluation of such matters to the opportunity sales recovery proceeding. Entergy Louisiana In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. In January 2019 the LPSC staff issued its audit report recommending that Entergy Louisiana refund approximately $7.3 million , plus interest, to customers based upon the imputation of a claim of vendor fault in servicing its nuclear plant. Entergy Louisiana recorded a provision in the first quarter 2019 for the potential outcome of the audit. In August 2019, Entergy Louisiana filed direct testimony challenging the basis for the LPSC staff’s recommended disallowance and providing an alternative calculation of replacement power costs should it be determined that a disallowance is appropriate. Entergy Louisiana’s calculation would require a refund to customers of approximately $4.2 million , plus interest, as compared to the LPSC staff’s recommendation of $7.3 million , plus interest. Responsive testimony was filed by the LPSC staff and intervenors in September 2019; all parties either agreed with or did not oppose Entergy Louisiana’s alternative calculation of replacement power costs. In September 2019 the procedural schedule was suspended to facilitate settlement negotiations. Entergy Mississippi Mississippi Attorney General Complaint As discussed in the Form 10-K, the Mississippi Attorney General filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. Entergy believes the complaint is unfounded. In December 2008 the Attorney General’s lawsuit was removed to U.S. District Court in Jackson, Mississippi. Pre-trial and settlement conferences were held in October 2018. In October 2018 the District Court rescheduled the trial to April 2019. In April 2019 the District Court remanded the Attorney General’s lawsuit to the Hinds County Chancery Court in Jackson, Mississippi. A hearing on procedural and dispositive motions was held in August 2019. Following the parties’ oral arguments, the Attorney General filed a post hearing brief, to which Entergy Mississippi filed a response. The motions remain pending before the chancellor of the Hinds County Chancery Court. Entergy Texas In September 2019, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period from April 2016 through March 2019. During the reconciliation period, Entergy Texas incurred approximately $1.6 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimated an under-recovery balance of approximately $25.8 million , including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2019. The proceeding is currently pending. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2019 Formula Rate Plan Filing In July 2019, Entergy Arkansas filed with the APSC its 2019 formula rate plan filing to set its formula rate for the 2020 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2020 and a netting adjustment for the historical year 2018. The total proposed formula rate plan rider revenue change designed to produce a target rate of return on common equity of 9.75% is $15.3 million , which is based upon a deficiency of approximately $61.9 million for the 2020 projected year, netted with a credit of approximately $46.6 million in the 2018 historical year netting adjustment. During 2018, Entergy Arkansas experienced higher-than expected sales volume, and actual costs were lower than forecasted. These changes, coupled with a reduced income tax rate resulting from the Tax Cuts and Jobs Act, resulted in the credit for the historical year netting adjustment. In the fourth quarter 2018, Entergy Arkansas recorded a provision of $35.1 million that reflected the estimate of the historical year netting adjustment that was expected to be included in the 2019 filing. In 2019, Entergy Arkansas recorded additional provisions totaling $11.5 million to reflect the updated estimate of the historical year netting adjustment included in the 2019 filing. In October 2019 other parties in the proceeding filed their errors and objections requesting certain adjustments to Entergy Arkansas’s filing, which, if granted, would reduce or eliminate Entergy Arkansas’s proposed revenue change. Entergy Arkansas filed its response addressing the requested adjustments in October 2019. In its response, Entergy Arkansas accepted certain of the adjustments recommended by the General Staff of the APSC that would reduce the proposed formula rate plan rider revenue change to $14 million . Entergy Arkansas disputed the remaining adjustments proposed by the parties. In October 2019, Entergy Arkansas filed a unanimous settlement agreement with the other parties in the proceeding seeking APSC approval of a revised total formula rate plan rider revenue change of $10.1 million . The proposed new formula rates would go into effect in January 2020. In its July 2019 formula rate plan filing, Entergy Arkansas proposed to recover an $11.2 million regulatory asset, amortized over five years, associated with specific costs related to the potential construction of scrubbers at the White Bluff plant. While Entergy Arkansas does not concede that the regulatory asset does not have merit, for purposes of reaching a settlement amount on the total formula rate plan rider change Entergy Arkansas agreed not to include the amounts associated with the White Bluff scrubber regulatory asset in the 2019 formula rate plan filing or future filings. Entergy Arkansas will record a write off of the $11.2 million White Bluff scrubber regulatory asset. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2017 Formula Rate Plan Filing Commercial operation at St. Charles Power Station commenced in May 2019. In May 2019, Entergy Louisiana filed an update to its 2017 formula rate plan evaluation report to include the estimated first-year revenue requirement of $109.5 million associated with the St. Charles Power Station. The resulting interim adjustment to rates became effective with the first billing cycle of June 2019. 2018 Formula Rate Plan Filing In May 2019, Entergy Louisiana filed its formula rate plan evaluation report for its 2018 calendar year operations. The 2018 test year evaluation report produced an earned return on common equity of 10.61% leading to a base rider formula rate plan revenue decrease of $8.9 million . While base rider formula rate plan revenue decreased as a result of this filing, overall formula rate plan revenues increased by approximately $118.7 million . This outcome is primarily driven by a reduction to the credits previously flowed through the tax reform adjustment mechanism and an increase in the transmission recovery mechanism, partially offset by reductions in the additional capacity mechanism revenue requirements and extraordinary cost items. The filing is subject to review by the LPSC. Resulting rates were implemented in September 2019, subject to refund due to contested issues. Entergy Louisiana also included in its filing a presentation of an initial proposal to combine the legacy Entergy Louisiana and legacy Entergy Gulf States Louisiana residential rates, which combination, if approved, would be accomplished on a revenue-neutral basis intended not to affect the rates of other customer classes. Entergy Louisiana contemplates that any combination of residential rates resulting from this request would be implemented with the results of the 2019 test year formula rate plan filing. Several parties intervened in the proceeding and the LPSC staff filed its report of objections/reservations in accordance with the applicable provisions of the formula rate plan. In its report the LPSC staff re-urged reservations with respect to the outstanding issues from the 2017 test year formula rate plan filing and disputed the inclusion of certain affiliate costs for test years 2017 and 2018. The LPSC staff objected to Entergy Louisiana’s proposal to combine residential rates but proposed the setting of a status conference to establish a procedural schedule to more fully address the issue. The LPSC staff also reserved its right to object to the treatment of the sale of Willow Glen reflected in the evaluation report and to the August 2019 compliance update, which was made primarily to update the capital additions reflected in the formula rate plan’s transmission recovery mechanism, based on limited time to review it. Additionally, since the completion of certain transmission projects, the LPSC staff has issued supplemental data requests addressing the prudence of Entergy Louisiana’s expenditures in connection with those projects. Entergy Louisiana is in the process of responding to those requests. Investigation of Costs Billed by Entergy Services In November 2018 the LPSC issued a notice of proceeding initiating an investigation into costs incurred by Entergy Services that are included in the retail rates of Entergy Louisiana. As noted in the notice of proceeding, the LPSC observed an increase in capital construction-related costs that have been incurred by Entergy Services. Discovery is ongoing and has included efforts to seek highly detailed information on a broad range of matters unrelated to the scope of the audit. Retail Rates - Gas 2018 Rate Stabilization Plan Filing As discussed in the Form 10-K, in January 2019, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2018. Entergy Louisiana made a compliance filing in April 2019 and rates were implemented during the first billing cycle of May 2019, subject to refund and final LPSC review. Gas Rate Stabilization Plan Extension Request In August 2019, Entergy Louisiana submitted an application to the LPSC seeking extension of the gas rate stabilization plan for the 2019-2021 test years. The LPSC has established a procedural schedule to address this request with a hearing scheduled in May 2020. Filings with the MPSC (Entergy Mississippi) Formula Rate Plan In March 2019, Entergy Mississippi submitted its formula rate plan 2019 test year filing and 2018 look-back filing showing Entergy Mississippi’s earned return for the historical 2018 calendar year to be above the formula rate plan bandwidth and projected earned return for the 2019 calendar year to be below the formula rate plan bandwidth. The 2019 test year filing shows a $36.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.94% return on rate base, within the formula rate plan bandwidth. The 2018 look-back filing compares actual 2018 results to the approved benchmark return on rate base and shows a $10.1 million interim decrease in formula rate plan revenues is necessary. In the fourth quarter 2018, Entergy Mississippi recorded a provision of $9.3 million that reflected the estimate of the difference between the 2018 expected earned rate of return on rate base and an established performance-adjusted benchmark rate of return under the formula rate plan performance-adjusted bandwidth mechanism. In the first quarter 2019, Entergy Mississippi recorded an increase of $0.8 million in the provision to reflect the amount shown in the look-back filing. In June 2019, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed that the 2019 test year filing showed that a $32.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.93% return on rate base, within the formula rate plan bandwidth. Additionally, pursuant to the joint stipulation, Entergy Mississippi’s 2018 look-back filing reflected an earned return on rate base of 7.81% in calendar year 2018 which is above the look-back benchmark return on rate base of 7.13% , resulting in an $11 million decrease in formula rate plan revenues on an interim basis through June 2020. In the second quarter 2019, Entergy Mississippi recorded an additional $0.9 million increase in the provision to reflect the $11 million shown in the look-back filing. In June 2019 the MPSC approved the joint stipulation with rates effective for the first billing cycle of July 2019. Filings with the City Council (Entergy New Orleans) Retail Rates See the Form 10-K for discussion of the electric and gas base rate case filed by Entergy New Orleans in September 2018. The evidentiary hearing in this proceeding was held in June 2019. The record and post-hearing briefs were submitted in July 2019. In August 2019, Entergy New Orleans sent a letter to the City Council proposing a framework for settlement of the rate case. That framework includes, among other things: (1) a total reduction in revenues of approximately $30 million ( $27 million electric, $3 million gas); (2) a reduced return on common equity lower than 10.5% , but still commensurate with Entergy New Orleans’s level of risk, paired with three-year electric and gas formula rate plans with forward-looking features; (3) a demand-side management program intended to achieve greater penetration of the City Council’s Energy Smart programs and make progress towards the City Council’s energy efficiency goals. In October 2019 the City Council’s Utility Committee approved a resolution for consideration by the full City Council that included a 9.35% return on common equity, a total reduction in revenues of approximately $39 million ( $36 million electric; $3 million gas), and an equity ratio of the lesser of 50% or Entergy New Orleans’s actual equity ratio. Also in October 2019, Entergy New Orleans sent another letter to the City Council identifying certain issues with the proposed resolution and inviting the City Council to resume negotiations in an effort to address these issues. The City Council may consider the resolution at its November 7, 2019 meeting. Filings with the PUCT (Entergy Texas) Base Rate Case In January 2019, Entergy Texas filed for recovery of rate case expenses totaling $7.2 million . The amounts requested primarily include internal and external expenses related to litigating the 2018 base rate case. Parties filed testimony in April 2019 recommending a disallowance ranging from $3.2 million to $4.2 million of the $7.2 million requested. In May 2019, Entergy Texas filed rebuttal testimony responding to the parties’ positions . In September 2019 an order was issued abating the procedural schedule and scheduled hearing to allow the finalization of a settlement in principle reached among the parties. The settlement provides for a black box disallowance of $1.4 million . In the third quarter 2019, Entergy Texas recorded a provision for the 2018 base rate case expenses based on the settlement in principle. In October 2019 the settlement was filed for review by the PUCT. Other Filings In March 2019, Entergy Texas filed with the PUCT a request to set a new distribution cost recovery factor (DCRF) rider. The proposed new DCRF rider is designed to collect approximately $3.2 million annually from Entergy Texas’s retail customers based on its capital invested in distribution between January 1, 2018 and December 31, 2018. In September 2019 the PUCT issued an order approving rates, which had been effective on an interim basis since June 2019, at the level proposed in Entergy Texas’s application. In December 2018, Entergy Texas filed with the PUCT a request to set a new transmission cost recovery factor (TCRF) rider. The proposed new TCRF rider is designed to collect approximately $2.7 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and September 30, 2018. In April 2019 parties filed testimony proposing a load growth adjustment, which would have fully offset Entergy Texas’s proposed TCRF revenue requirement. In July 2019 the PUCT granted Entergy Texas’s application as filed to begin recovery of the requested $2.7 million annual revenue requirement, rejecting opposing parties’ proposed adjustment; however, the PUCT found that the question of prudence of the actual investment costs should be determined in Entergy Texas’s next rate case similar to the procedure used for the costs recovered through the DCRF rider. In October 2019 the PUCT issued an order on a motion for rehearing, clarifying and affirming its prior order granting Entergy Texas’s application as filed. Also in October 2019 a second motion for rehearing was filed, and Entergy Texas filed a response in opposition to the motion. The second motion for rehearing is pending before the PUCT. In August 2019, Entergy Texas filed with the PUCT a request to amend its TCRF rider. The proposed new TCRF rider is designed to collect approximately $19.4 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and June 30, 2019, which is $16.7 million in incremental annual revenue above the $2.7 million approved in the prior pending TCRF proceeding. The proceeding is currently pending. System Agreement Cost Equalization Proceedings As discussed in the Form 10-K, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. The presiding judge issued an initial decision in November 2016. In the initial decision, the presiding judge agreed with the Utility operating companies’ position that: (1) interest on the bandwidth payments for the 2005 test period should be accrued from June 1, 2006 until the date that the bandwidth payments for that calculation are paid, which is consistent with how the Utility operating companies performed the calculation; and (2) a portion of Entergy Louisiana’s 2001-vintage Louisiana state net operating loss accumulated deferred income tax that results from the Vidalia tax deduction should be excluded from the 2005 test period bandwidth calculation. Various participants filed briefs on exceptions and/or briefs opposing exceptions related to the initial decision, including the LPSC, the APSC, the FERC trial staff, and Entergy Services. In May 2018 the FERC issued an order affirming the initial decision and ordered a comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and a recalculation of the 2006 and 2007 test years as a result of limited revisions. Entergy filed the comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and the 2006 and 2007 test years in July 2018. The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 These payments were made in July 2018. In January 2019 the FERC denied the LPSC’s request for rehearing of the May 2018 order. In May 2019 the FERC accepted the July 2018 compliance filing, and the LPSC sought rehearing of that decision in June 2019. Rough Production Cost Equalization 2010 Rate Filing Based on Calendar Year 2009 Production Costs In May 2010, Entergy filed with the FERC the 2010 rates in accordance with the FERC’s orders in the System Agreement proceeding, and supplemented the filing in September 2010. Several parties intervened in the proceeding at the FERC, including the LPSC and the City Council, which also filed protests. In July 2010 the FERC accepted Entergy’s proposed rates for filing, effective June 1, 2010, subject to refund. After an abeyance of the proceeding schedule, a hearing was held in March 2014 and in December 2015 the FERC issued an order. Among other things, the December 2015 order directed Entergy to submit a compliance filing. In January 2016 the LPSC, the APSC, and Entergy filed requests for rehearing of the FERC’s December 2015 order. In February 2016, Entergy submitted the compliance filing ordered in the December 2015 order. The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) In September 2016 the FERC accepted the February 2016 compliance filing subject to a further compliance filing made in November 2016. The further compliance filing was required as a result of an order issued in September 2016 ruling on the January 2016 rehearing requests filed by the LPSC, the APSC, and Entergy. In the order addressing the rehearing requests, the FERC granted the LPSC’s rehearing request and directed that interest be calculated on the payment/receipt amounts. The FERC also granted the APSC’s and Entergy’s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation. In November 2016, Entergy submitted its compliance filing in response to the FERC’s order on rehearing. The compliance filing included a revised calculation of the bandwidth true-up payments and receipts based on 2009 test year data and interest calculations. The LPSC protested the interest calculations. I n November 2017 the FERC issued an order rejecting the November 2016 compliance filing. The FERC determined that the payments detailed in the November 2016 compliance filing did not include adequate interest for the payments from Entergy Arkansas to Entergy Louisiana because it did not include interest on the principal portion of the payment that was made in February 2016. In December 2017, Entergy recalculated the interest pursuant to the November 2017 order. As a result of the recalculations, Entergy Arkansas owed very minor payments to Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. In June 2019 the FERC issued an order denying the LPSC’s rehearing request of FERC’s September 2016 order. The LPSC rehearing request asked the FERC to reverse its decision that both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes should be removed from the bandwidth calculation. Entergy Arkansas Opportunity Sales Proceeding As discussed in the Form 10-K, in December 2018, Entergy made a compliance filing in response to the FERC’s October 2018 order in the opportunity sales proceeding. The compliance filing provided a final calculation of Entergy Arkansas’s payments to the other Utility operating companies, including interest. No protests were filed in response to the December 2018 compliance filing. The December 2018 compliance filing is pending FERC action. In February 2019 the LPSC filed a new complaint relating to two issues that were raised in the opportunity sales proceeding, but that, in its October 2018 order, the FERC held were outside the scope of the proceeding. In March 2019, Entergy Services filed an answer and motion to dismiss the new complaint. In May 2019, Entergy Arkansas filed an application and supporting testimony with the APSC requesting approval of a special rider tariff to recover the costs of these payments from its retail customers over a 24-month period. The application requested that the APSC approve the rider to take effect within 30 days or, if suspended by the APSC as allowed by commission rule, approve the rider to take effect in the first billing cycle of the first month occurring 30 days after issuance of the APSC’s order approving the rider. In June 2019 the APSC suspended Entergy Arkansas’s tariff and granted Entergy Arkansas’s motion asking the APSC to establish the proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC’s October 2018 order and related FERC orders in the opportunity sales proceeding. Complaints Against System Energy Return on Equity and Capital Structure Complaints See the Form 10-K for a discussion of the return on equity complaints filed by the APSC and the MPSC and by the LPSC against System Energy. The LPSC’s complaint also includes a challenge to System Energy’s capital structure. In August 2018 the FERC issued an order dismissing the LPSC’s request to investigate System Energy’s capital structure and setting for hearing the return on equity complaint, with a refund effective date of April 27, 2018. The portion of the LPSC’s complaint dealing with return on equity was subsequently consolidated with the APSC and MPSC complaint for hearing. The parties are required to address an order (issued in a separate proceeding involving New England transmission owners) that proposed modifying the FERC’s standard methodology for determining return on equity. In September 2018, System Energy filed a request for rehearing and the LPSC filed a request for rehearing or reconsideration of the FERC’s August 2018 order. The LPSC’s request referenced an amended complaint that it filed on the same day raising the same capital structure claim the FERC had earlier dismissed. The FERC initiated a new proceeding for the amended capital structure complaint, and System Energy submitted a response in October 2018. In January 2019 the FERC set the amended capital structure complaint for settlement and hearing proceedings. Settlement procedures in the capital structure proceeding commenced in February 2019. As noted below, in June 2019 settlement discussions were terminated and the amended capital structure complaint was consolidated with the ongoing return on equity proceeding. In January 2019 the LPSC and the APSC and MPSC filed direct testimony in the return on equity proceeding. For the refund period January 23, 2017 through April 23, 2018, the LPSC argues for an authorized return on equity for System Energy of 7.81% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.24% . For the refund period April 27, 2018 through July 27, 2019, and for application on a prospective basis, the LPSC argues for an authorized return on equity for System Energy of 7.97% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.41% . In March 2019, System Energy submitted answering testimony in the return on equity proceeding. For the first refund period, System Energy’s testimony argues for a return on equity of 10.10% (median) or 10.70% (midpoint). For the second refund period, System Energy’s testimony shows that the calculated returns on equity for the first period fall within the range of presumptively just and reasonable returns on equity, and thus the second complaint should be dismissed (and the first period return on equity used going forward). If the FERC nonetheless were to set a new return on equity for the second period (and going forward), System Energy argues the return on equity should be either 10.32% (median) or 10.69% (midpoint). In May 2019 the FERC trial staff filed its direct and answering testimony in the return on equity proceeding. For the first refund period, the FERC trial staff calculates an authorized return on equity for System Energy of 9.89% based on the application of FERC’s proposed methodology. The FERC trial staff’s direct and answering testimony noted that an authorized return on equity of 9.89% for the first refund period was within the range of presumptively just and reasonable returns on equity for the second refund period, as calculated using a study period ending January 31, 2019 for the second refund period. In June 2019, System Entergy filed testimony responding to the testimony filed by the FERC trial staff. Among other things, System Energy’s testimony rebutted arguments raised by the FERC trial staff and provided updated calculations for the second refund period based on the study period ending May 31, 2019. For that refund period, System Energy’s testimony shows that strict application of the return on equity methodology proposed by the FERC trial staff indicates that the second complaint would not be dismissed, and the ne |
Entergy Texas [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions were terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging the treatment and amount of excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2019, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit to customers for the recovery of the true-up adjustment resulting from the 2018 over-recovered retail balance of $0.1 million and the recovery of a $4.2 million payment to Entergy Arkansas as a result of the FERC’s May 2018 decision in the 2005 bandwidth proceeding, in which the FERC directed a compliance filing to be made that consisted of the comprehensive recalculation of the bandwidth formula rate with true-up payments and receipts based on test period data for June 1, 2005 through December 31, 2005. The rates for the 2019 production cost allocation rider update are effective July 2019 through June 2020. Energy Cost Recovery Rider In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied the Attorney General’s motion in the energy cost recovery proceeding seeking an investigation into Entergy Arkansas’s annual energy cost recovery rider adjustment and referred the evaluation of such matters to the opportunity sales recovery proceeding. Entergy Louisiana In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. In January 2019 the LPSC staff issued its audit report recommending that Entergy Louisiana refund approximately $7.3 million , plus interest, to customers based upon the imputation of a claim of vendor fault in servicing its nuclear plant. Entergy Louisiana recorded a provision in the first quarter 2019 for the potential outcome of the audit. In August 2019, Entergy Louisiana filed direct testimony challenging the basis for the LPSC staff’s recommended disallowance and providing an alternative calculation of replacement power costs should it be determined that a disallowance is appropriate. Entergy Louisiana’s calculation would require a refund to customers of approximately $4.2 million , plus interest, as compared to the LPSC staff’s recommendation of $7.3 million , plus interest. Responsive testimony was filed by the LPSC staff and intervenors in September 2019; all parties either agreed with or did not oppose Entergy Louisiana’s alternative calculation of replacement power costs. In September 2019 the procedural schedule was suspended to facilitate settlement negotiations. Entergy Mississippi Mississippi Attorney General Complaint As discussed in the Form 10-K, the Mississippi Attorney General filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. Entergy believes the complaint is unfounded. In December 2008 the Attorney General’s lawsuit was removed to U.S. District Court in Jackson, Mississippi. Pre-trial and settlement conferences were held in October 2018. In October 2018 the District Court rescheduled the trial to April 2019. In April 2019 the District Court remanded the Attorney General’s lawsuit to the Hinds County Chancery Court in Jackson, Mississippi. A hearing on procedural and dispositive motions was held in August 2019. Following the parties’ oral arguments, the Attorney General filed a post hearing brief, to which Entergy Mississippi filed a response. The motions remain pending before the chancellor of the Hinds County Chancery Court. Entergy Texas In September 2019, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period from April 2016 through March 2019. During the reconciliation period, Entergy Texas incurred approximately $1.6 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimated an under-recovery balance of approximately $25.8 million , including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2019. The proceeding is currently pending. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2019 Formula Rate Plan Filing In July 2019, Entergy Arkansas filed with the APSC its 2019 formula rate plan filing to set its formula rate for the 2020 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2020 and a netting adjustment for the historical year 2018. The total proposed formula rate plan rider revenue change designed to produce a target rate of return on common equity of 9.75% is $15.3 million , which is based upon a deficiency of approximately $61.9 million for the 2020 projected year, netted with a credit of approximately $46.6 million in the 2018 historical year netting adjustment. During 2018, Entergy Arkansas experienced higher-than expected sales volume, and actual costs were lower than forecasted. These changes, coupled with a reduced income tax rate resulting from the Tax Cuts and Jobs Act, resulted in the credit for the historical year netting adjustment. In the fourth quarter 2018, Entergy Arkansas recorded a provision of $35.1 million that reflected the estimate of the historical year netting adjustment that was expected to be included in the 2019 filing. In 2019, Entergy Arkansas recorded additional provisions totaling $11.5 million to reflect the updated estimate of the historical year netting adjustment included in the 2019 filing. In October 2019 other parties in the proceeding filed their errors and objections requesting certain adjustments to Entergy Arkansas’s filing, which, if granted, would reduce or eliminate Entergy Arkansas’s proposed revenue change. Entergy Arkansas filed its response addressing the requested adjustments in October 2019. In its response, Entergy Arkansas accepted certain of the adjustments recommended by the General Staff of the APSC that would reduce the proposed formula rate plan rider revenue change to $14 million . Entergy Arkansas disputed the remaining adjustments proposed by the parties. In October 2019, Entergy Arkansas filed a unanimous settlement agreement with the other parties in the proceeding seeking APSC approval of a revised total formula rate plan rider revenue change of $10.1 million . The proposed new formula rates would go into effect in January 2020. In its July 2019 formula rate plan filing, Entergy Arkansas proposed to recover an $11.2 million regulatory asset, amortized over five years, associated with specific costs related to the potential construction of scrubbers at the White Bluff plant. While Entergy Arkansas does not concede that the regulatory asset does not have merit, for purposes of reaching a settlement amount on the total formula rate plan rider change Entergy Arkansas agreed not to include the amounts associated with the White Bluff scrubber regulatory asset in the 2019 formula rate plan filing or future filings. Entergy Arkansas will record a write off of the $11.2 million White Bluff scrubber regulatory asset. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2017 Formula Rate Plan Filing Commercial operation at St. Charles Power Station commenced in May 2019. In May 2019, Entergy Louisiana filed an update to its 2017 formula rate plan evaluation report to include the estimated first-year revenue requirement of $109.5 million associated with the St. Charles Power Station. The resulting interim adjustment to rates became effective with the first billing cycle of June 2019. 2018 Formula Rate Plan Filing In May 2019, Entergy Louisiana filed its formula rate plan evaluation report for its 2018 calendar year operations. The 2018 test year evaluation report produced an earned return on common equity of 10.61% leading to a base rider formula rate plan revenue decrease of $8.9 million . While base rider formula rate plan revenue decreased as a result of this filing, overall formula rate plan revenues increased by approximately $118.7 million . This outcome is primarily driven by a reduction to the credits previously flowed through the tax reform adjustment mechanism and an increase in the transmission recovery mechanism, partially offset by reductions in the additional capacity mechanism revenue requirements and extraordinary cost items. The filing is subject to review by the LPSC. Resulting rates were implemented in September 2019, subject to refund due to contested issues. Entergy Louisiana also included in its filing a presentation of an initial proposal to combine the legacy Entergy Louisiana and legacy Entergy Gulf States Louisiana residential rates, which combination, if approved, would be accomplished on a revenue-neutral basis intended not to affect the rates of other customer classes. Entergy Louisiana contemplates that any combination of residential rates resulting from this request would be implemented with the results of the 2019 test year formula rate plan filing. Several parties intervened in the proceeding and the LPSC staff filed its report of objections/reservations in accordance with the applicable provisions of the formula rate plan. In its report the LPSC staff re-urged reservations with respect to the outstanding issues from the 2017 test year formula rate plan filing and disputed the inclusion of certain affiliate costs for test years 2017 and 2018. The LPSC staff objected to Entergy Louisiana’s proposal to combine residential rates but proposed the setting of a status conference to establish a procedural schedule to more fully address the issue. The LPSC staff also reserved its right to object to the treatment of the sale of Willow Glen reflected in the evaluation report and to the August 2019 compliance update, which was made primarily to update the capital additions reflected in the formula rate plan’s transmission recovery mechanism, based on limited time to review it. Additionally, since the completion of certain transmission projects, the LPSC staff has issued supplemental data requests addressing the prudence of Entergy Louisiana’s expenditures in connection with those projects. Entergy Louisiana is in the process of responding to those requests. Investigation of Costs Billed by Entergy Services In November 2018 the LPSC issued a notice of proceeding initiating an investigation into costs incurred by Entergy Services that are included in the retail rates of Entergy Louisiana. As noted in the notice of proceeding, the LPSC observed an increase in capital construction-related costs that have been incurred by Entergy Services. Discovery is ongoing and has included efforts to seek highly detailed information on a broad range of matters unrelated to the scope of the audit. Retail Rates - Gas 2018 Rate Stabilization Plan Filing As discussed in the Form 10-K, in January 2019, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2018. Entergy Louisiana made a compliance filing in April 2019 and rates were implemented during the first billing cycle of May 2019, subject to refund and final LPSC review. Gas Rate Stabilization Plan Extension Request In August 2019, Entergy Louisiana submitted an application to the LPSC seeking extension of the gas rate stabilization plan for the 2019-2021 test years. The LPSC has established a procedural schedule to address this request with a hearing scheduled in May 2020. Filings with the MPSC (Entergy Mississippi) Formula Rate Plan In March 2019, Entergy Mississippi submitted its formula rate plan 2019 test year filing and 2018 look-back filing showing Entergy Mississippi’s earned return for the historical 2018 calendar year to be above the formula rate plan bandwidth and projected earned return for the 2019 calendar year to be below the formula rate plan bandwidth. The 2019 test year filing shows a $36.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.94% return on rate base, within the formula rate plan bandwidth. The 2018 look-back filing compares actual 2018 results to the approved benchmark return on rate base and shows a $10.1 million interim decrease in formula rate plan revenues is necessary. In the fourth quarter 2018, Entergy Mississippi recorded a provision of $9.3 million that reflected the estimate of the difference between the 2018 expected earned rate of return on rate base and an established performance-adjusted benchmark rate of return under the formula rate plan performance-adjusted bandwidth mechanism. In the first quarter 2019, Entergy Mississippi recorded an increase of $0.8 million in the provision to reflect the amount shown in the look-back filing. In June 2019, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed that the 2019 test year filing showed that a $32.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.93% return on rate base, within the formula rate plan bandwidth. Additionally, pursuant to the joint stipulation, Entergy Mississippi’s 2018 look-back filing reflected an earned return on rate base of 7.81% in calendar year 2018 which is above the look-back benchmark return on rate base of 7.13% , resulting in an $11 million decrease in formula rate plan revenues on an interim basis through June 2020. In the second quarter 2019, Entergy Mississippi recorded an additional $0.9 million increase in the provision to reflect the $11 million shown in the look-back filing. In June 2019 the MPSC approved the joint stipulation with rates effective for the first billing cycle of July 2019. Filings with the City Council (Entergy New Orleans) Retail Rates See the Form 10-K for discussion of the electric and gas base rate case filed by Entergy New Orleans in September 2018. The evidentiary hearing in this proceeding was held in June 2019. The record and post-hearing briefs were submitted in July 2019. In August 2019, Entergy New Orleans sent a letter to the City Council proposing a framework for settlement of the rate case. That framework includes, among other things: (1) a total reduction in revenues of approximately $30 million ( $27 million electric, $3 million gas); (2) a reduced return on common equity lower than 10.5% , but still commensurate with Entergy New Orleans’s level of risk, paired with three-year electric and gas formula rate plans with forward-looking features; (3) a demand-side management program intended to achieve greater penetration of the City Council’s Energy Smart programs and make progress towards the City Council’s energy efficiency goals. In October 2019 the City Council’s Utility Committee approved a resolution for consideration by the full City Council that included a 9.35% return on common equity, a total reduction in revenues of approximately $39 million ( $36 million electric; $3 million gas), and an equity ratio of the lesser of 50% or Entergy New Orleans’s actual equity ratio. Also in October 2019, Entergy New Orleans sent another letter to the City Council identifying certain issues with the proposed resolution and inviting the City Council to resume negotiations in an effort to address these issues. The City Council may consider the resolution at its November 7, 2019 meeting. Filings with the PUCT (Entergy Texas) Base Rate Case In January 2019, Entergy Texas filed for recovery of rate case expenses totaling $7.2 million . The amounts requested primarily include internal and external expenses related to litigating the 2018 base rate case. Parties filed testimony in April 2019 recommending a disallowance ranging from $3.2 million to $4.2 million of the $7.2 million requested. In May 2019, Entergy Texas filed rebuttal testimony responding to the parties’ positions . In September 2019 an order was issued abating the procedural schedule and scheduled hearing to allow the finalization of a settlement in principle reached among the parties. The settlement provides for a black box disallowance of $1.4 million . In the third quarter 2019, Entergy Texas recorded a provision for the 2018 base rate case expenses based on the settlement in principle. In October 2019 the settlement was filed for review by the PUCT. Other Filings In March 2019, Entergy Texas filed with the PUCT a request to set a new distribution cost recovery factor (DCRF) rider. The proposed new DCRF rider is designed to collect approximately $3.2 million annually from Entergy Texas’s retail customers based on its capital invested in distribution between January 1, 2018 and December 31, 2018. In September 2019 the PUCT issued an order approving rates, which had been effective on an interim basis since June 2019, at the level proposed in Entergy Texas’s application. In December 2018, Entergy Texas filed with the PUCT a request to set a new transmission cost recovery factor (TCRF) rider. The proposed new TCRF rider is designed to collect approximately $2.7 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and September 30, 2018. In April 2019 parties filed testimony proposing a load growth adjustment, which would have fully offset Entergy Texas’s proposed TCRF revenue requirement. In July 2019 the PUCT granted Entergy Texas’s application as filed to begin recovery of the requested $2.7 million annual revenue requirement, rejecting opposing parties’ proposed adjustment; however, the PUCT found that the question of prudence of the actual investment costs should be determined in Entergy Texas’s next rate case similar to the procedure used for the costs recovered through the DCRF rider. In October 2019 the PUCT issued an order on a motion for rehearing, clarifying and affirming its prior order granting Entergy Texas’s application as filed. Also in October 2019 a second motion for rehearing was filed, and Entergy Texas filed a response in opposition to the motion. The second motion for rehearing is pending before the PUCT. In August 2019, Entergy Texas filed with the PUCT a request to amend its TCRF rider. The proposed new TCRF rider is designed to collect approximately $19.4 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and June 30, 2019, which is $16.7 million in incremental annual revenue above the $2.7 million approved in the prior pending TCRF proceeding. The proceeding is currently pending. System Agreement Cost Equalization Proceedings As discussed in the Form 10-K, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. The presiding judge issued an initial decision in November 2016. In the initial decision, the presiding judge agreed with the Utility operating companies’ position that: (1) interest on the bandwidth payments for the 2005 test period should be accrued from June 1, 2006 until the date that the bandwidth payments for that calculation are paid, which is consistent with how the Utility operating companies performed the calculation; and (2) a portion of Entergy Louisiana’s 2001-vintage Louisiana state net operating loss accumulated deferred income tax that results from the Vidalia tax deduction should be excluded from the 2005 test period bandwidth calculation. Various participants filed briefs on exceptions and/or briefs opposing exceptions related to the initial decision, including the LPSC, the APSC, the FERC trial staff, and Entergy Services. In May 2018 the FERC issued an order affirming the initial decision and ordered a comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and a recalculation of the 2006 and 2007 test years as a result of limited revisions. Entergy filed the comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and the 2006 and 2007 test years in July 2018. The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 These payments were made in July 2018. In January 2019 the FERC denied the LPSC’s request for rehearing of the May 2018 order. In May 2019 the FERC accepted the July 2018 compliance filing, and the LPSC sought rehearing of that decision in June 2019. Rough Production Cost Equalization 2010 Rate Filing Based on Calendar Year 2009 Production Costs In May 2010, Entergy filed with the FERC the 2010 rates in accordance with the FERC’s orders in the System Agreement proceeding, and supplemented the filing in September 2010. Several parties intervened in the proceeding at the FERC, including the LPSC and the City Council, which also filed protests. In July 2010 the FERC accepted Entergy’s proposed rates for filing, effective June 1, 2010, subject to refund. After an abeyance of the proceeding schedule, a hearing was held in March 2014 and in December 2015 the FERC issued an order. Among other things, the December 2015 order directed Entergy to submit a compliance filing. In January 2016 the LPSC, the APSC, and Entergy filed requests for rehearing of the FERC’s December 2015 order. In February 2016, Entergy submitted the compliance filing ordered in the December 2015 order. The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) In September 2016 the FERC accepted the February 2016 compliance filing subject to a further compliance filing made in November 2016. The further compliance filing was required as a result of an order issued in September 2016 ruling on the January 2016 rehearing requests filed by the LPSC, the APSC, and Entergy. In the order addressing the rehearing requests, the FERC granted the LPSC’s rehearing request and directed that interest be calculated on the payment/receipt amounts. The FERC also granted the APSC’s and Entergy’s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation. In November 2016, Entergy submitted its compliance filing in response to the FERC’s order on rehearing. The compliance filing included a revised calculation of the bandwidth true-up payments and receipts based on 2009 test year data and interest calculations. The LPSC protested the interest calculations. I n November 2017 the FERC issued an order rejecting the November 2016 compliance filing. The FERC determined that the payments detailed in the November 2016 compliance filing did not include adequate interest for the payments from Entergy Arkansas to Entergy Louisiana because it did not include interest on the principal portion of the payment that was made in February 2016. In December 2017, Entergy recalculated the interest pursuant to the November 2017 order. As a result of the recalculations, Entergy Arkansas owed very minor payments to Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. In June 2019 the FERC issued an order denying the LPSC’s rehearing request of FERC’s September 2016 order. The LPSC rehearing request asked the FERC to reverse its decision that both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes should be removed from the bandwidth calculation. Entergy Arkansas Opportunity Sales Proceeding As discussed in the Form 10-K, in December 2018, Entergy made a compliance filing in response to the FERC’s October 2018 order in the opportunity sales proceeding. The compliance filing provided a final calculation of Entergy Arkansas’s payments to the other Utility operating companies, including interest. No protests were filed in response to the December 2018 compliance filing. The December 2018 compliance filing is pending FERC action. In February 2019 the LPSC filed a new complaint relating to two issues that were raised in the opportunity sales proceeding, but that, in its October 2018 order, the FERC held were outside the scope of the proceeding. In March 2019, Entergy Services filed an answer and motion to dismiss the new complaint. In May 2019, Entergy Arkansas filed an application and supporting testimony with the APSC requesting approval of a special rider tariff to recover the costs of these payments from its retail customers over a 24-month period. The application requested that the APSC approve the rider to take effect within 30 days or, if suspended by the APSC as allowed by commission rule, approve the rider to take effect in the first billing cycle of the first month occurring 30 days after issuance of the APSC’s order approving the rider. In June 2019 the APSC suspended Entergy Arkansas’s tariff and granted Entergy Arkansas’s motion asking the APSC to establish the proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC’s October 2018 order and related FERC orders in the opportunity sales proceeding. Complaints Against System Energy Return on Equity and Capital Structure Complaints See the Form 10-K for a discussion of the return on equity complaints filed by the APSC and the MPSC and by the LPSC against System Energy. The LPSC’s complaint also includes a challenge to System Energy’s capital structure. In August 2018 the FERC issued an order dismissing the LPSC’s request to investigate System Energy’s capital structure and setting for hearing the return on equity complaint, with a refund effective date of April 27, 2018. The portion of the LPSC’s complaint dealing with return on equity was subsequently consolidated with the APSC and MPSC complaint for hearing. The parties are required to address an order (issued in a separate proceeding involving New England transmission owners) that proposed modifying the FERC’s standard methodology for determining return on equity. In September 2018, System Energy filed a request for rehearing and the LPSC filed a request for rehearing or reconsideration of the FERC’s August 2018 order. The LPSC’s request referenced an amended complaint that it filed on the same day raising the same capital structure claim the FERC had earlier dismissed. The FERC initiated a new proceeding for the amended capital structure complaint, and System Energy submitted a response in October 2018. In January 2019 the FERC set the amended capital structure complaint for settlement and hearing proceedings. Settlement procedures in the capital structure proceeding commenced in February 2019. As noted below, in June 2019 settlement discussions were terminated and the amended capital structure complaint was consolidated with the ongoing return on equity proceeding. In January 2019 the LPSC and the APSC and MPSC filed direct testimony in the return on equity proceeding. For the refund period January 23, 2017 through April 23, 2018, the LPSC argues for an authorized return on equity for System Energy of 7.81% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.24% . For the refund period April 27, 2018 through July 27, 2019, and for application on a prospective basis, the LPSC argues for an authorized return on equity for System Energy of 7.97% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.41% . In March 2019, System Energy submitted answering testimony in the return on equity proceeding. For the first refund period, System Energy’s testimony argues for a return on equity of 10.10% (median) or 10.70% (midpoint). For the second refund period, System Energy’s testimony shows that the calculated returns on equity for the first period fall within the range of presumptively just and reasonable returns on equity, and thus the second complaint should be dismissed (and the first period return on equity used going forward). If the FERC nonetheless were to set a new return on equity for the second period (and going forward), System Energy argues the return on equity should be either 10.32% (median) or 10.69% (midpoint). In May 2019 the FERC trial staff filed its direct and answering testimony in the return on equity proceeding. For the first refund period, the FERC trial staff calculates an authorized return on equity for System Energy of 9.89% based on the application of FERC’s proposed methodology. The FERC trial staff’s direct and answering testimony noted that an authorized return on equity of 9.89% for the first refund period was within the range of presumptively just and reasonable returns on equity for the second refund period, as calculated using a study period ending January 31, 2019 for the second refund period. In June 2019, System Entergy filed testimony responding to the testimony filed by the FERC trial staff. Among other things, System Energy’s testimony rebutted arguments raised by the FERC trial staff and provided updated calculations for the second refund period based on the study period ending May 31, 2019. For that refund period, System Energy’s testimony shows that strict application of the return on equity methodology proposed by the FERC trial staff indicates that the second complaint would not be dismissed, and the ne |
System Energy [Member] | |
Rate and Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Regulatory activity regarding the Tax Cuts and Jobs Act System Energy In a filing made with the FERC in March 2018, Entergy proposed revisions to the Unit Power Sales Agreement, among other agreements, to reflect the effects of the Tax Act. In the filing System Energy proposed to return all of its unprotected excess accumulated deferred income taxes to its customers by the end of 2018. In May 2018 the FERC accepted System Energy’s proposed tax revisions with an effective date of June 1, 2018, subject to refund and the outcome of settlement and hearing procedures. Settlement discussions were terminated in April 2019, and the hearing is scheduled for March 2020. The retail regulators of the Utility operating companies that are parties to the Unit Power Sales Agreement are challenging the treatment and amount of excess tax liabilities associated with uncertain tax positions related to nuclear decommissioning. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2019, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit to customers for the recovery of the true-up adjustment resulting from the 2018 over-recovered retail balance of $0.1 million and the recovery of a $4.2 million payment to Entergy Arkansas as a result of the FERC’s May 2018 decision in the 2005 bandwidth proceeding, in which the FERC directed a compliance filing to be made that consisted of the comprehensive recalculation of the bandwidth formula rate with true-up payments and receipts based on test period data for June 1, 2005 through December 31, 2005. The rates for the 2019 production cost allocation rider update are effective July 2019 through June 2020. Energy Cost Recovery Rider In March 2019, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected a decrease from $0.01882 per kWh to $0.01462 per kWh and became effective with the first billing cycle in April 2019. In March 2019 the Arkansas Attorney General filed a response to Entergy Arkansas’s annual adjustment and included with its filing a motion for investigation of alleged overcharges to customers in connection with the FERC’s October 2018 order in the opportunity sales proceeding. Entergy Arkansas filed its response to the Attorney General’s motion in April 2019 in which Entergy Arkansas stated its intent to initiate a proceeding to address recovery issues related to the October 2018 FERC order. In May 2019, Entergy Arkansas initiated the opportunity sales recovery proceeding, discussed below, and requested that the APSC establish that proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC October 2018 order and related FERC orders in the opportunity sales proceeding. In June 2019 the APSC granted Entergy Arkansas’s request and also denied the Attorney General’s motion in the energy cost recovery proceeding seeking an investigation into Entergy Arkansas’s annual energy cost recovery rider adjustment and referred the evaluation of such matters to the opportunity sales recovery proceeding. Entergy Louisiana In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. In January 2019 the LPSC staff issued its audit report recommending that Entergy Louisiana refund approximately $7.3 million , plus interest, to customers based upon the imputation of a claim of vendor fault in servicing its nuclear plant. Entergy Louisiana recorded a provision in the first quarter 2019 for the potential outcome of the audit. In August 2019, Entergy Louisiana filed direct testimony challenging the basis for the LPSC staff’s recommended disallowance and providing an alternative calculation of replacement power costs should it be determined that a disallowance is appropriate. Entergy Louisiana’s calculation would require a refund to customers of approximately $4.2 million , plus interest, as compared to the LPSC staff’s recommendation of $7.3 million , plus interest. Responsive testimony was filed by the LPSC staff and intervenors in September 2019; all parties either agreed with or did not oppose Entergy Louisiana’s alternative calculation of replacement power costs. In September 2019 the procedural schedule was suspended to facilitate settlement negotiations. Entergy Mississippi Mississippi Attorney General Complaint As discussed in the Form 10-K, the Mississippi Attorney General filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. Entergy believes the complaint is unfounded. In December 2008 the Attorney General’s lawsuit was removed to U.S. District Court in Jackson, Mississippi. Pre-trial and settlement conferences were held in October 2018. In October 2018 the District Court rescheduled the trial to April 2019. In April 2019 the District Court remanded the Attorney General’s lawsuit to the Hinds County Chancery Court in Jackson, Mississippi. A hearing on procedural and dispositive motions was held in August 2019. Following the parties’ oral arguments, the Attorney General filed a post hearing brief, to which Entergy Mississippi filed a response. The motions remain pending before the chancellor of the Hinds County Chancery Court. Entergy Texas In September 2019, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period from April 2016 through March 2019. During the reconciliation period, Entergy Texas incurred approximately $1.6 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimated an under-recovery balance of approximately $25.8 million , including interest, which Entergy Texas requested authority to carry over as the beginning balance for the subsequent reconciliation period beginning April 2019. The proceeding is currently pending. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that discussion. Filings with the APSC (Entergy Arkansas) Retail Rates 2019 Formula Rate Plan Filing In July 2019, Entergy Arkansas filed with the APSC its 2019 formula rate plan filing to set its formula rate for the 2020 calendar year. The filing contained an evaluation of Entergy Arkansas’s earnings for the projected year 2020 and a netting adjustment for the historical year 2018. The total proposed formula rate plan rider revenue change designed to produce a target rate of return on common equity of 9.75% is $15.3 million , which is based upon a deficiency of approximately $61.9 million for the 2020 projected year, netted with a credit of approximately $46.6 million in the 2018 historical year netting adjustment. During 2018, Entergy Arkansas experienced higher-than expected sales volume, and actual costs were lower than forecasted. These changes, coupled with a reduced income tax rate resulting from the Tax Cuts and Jobs Act, resulted in the credit for the historical year netting adjustment. In the fourth quarter 2018, Entergy Arkansas recorded a provision of $35.1 million that reflected the estimate of the historical year netting adjustment that was expected to be included in the 2019 filing. In 2019, Entergy Arkansas recorded additional provisions totaling $11.5 million to reflect the updated estimate of the historical year netting adjustment included in the 2019 filing. In October 2019 other parties in the proceeding filed their errors and objections requesting certain adjustments to Entergy Arkansas’s filing, which, if granted, would reduce or eliminate Entergy Arkansas’s proposed revenue change. Entergy Arkansas filed its response addressing the requested adjustments in October 2019. In its response, Entergy Arkansas accepted certain of the adjustments recommended by the General Staff of the APSC that would reduce the proposed formula rate plan rider revenue change to $14 million . Entergy Arkansas disputed the remaining adjustments proposed by the parties. In October 2019, Entergy Arkansas filed a unanimous settlement agreement with the other parties in the proceeding seeking APSC approval of a revised total formula rate plan rider revenue change of $10.1 million . The proposed new formula rates would go into effect in January 2020. In its July 2019 formula rate plan filing, Entergy Arkansas proposed to recover an $11.2 million regulatory asset, amortized over five years, associated with specific costs related to the potential construction of scrubbers at the White Bluff plant. While Entergy Arkansas does not concede that the regulatory asset does not have merit, for purposes of reaching a settlement amount on the total formula rate plan rider change Entergy Arkansas agreed not to include the amounts associated with the White Bluff scrubber regulatory asset in the 2019 formula rate plan filing or future filings. Entergy Arkansas will record a write off of the $11.2 million White Bluff scrubber regulatory asset. Filings with the LPSC (Entergy Louisiana) Retail Rates - Electric 2017 Formula Rate Plan Filing Commercial operation at St. Charles Power Station commenced in May 2019. In May 2019, Entergy Louisiana filed an update to its 2017 formula rate plan evaluation report to include the estimated first-year revenue requirement of $109.5 million associated with the St. Charles Power Station. The resulting interim adjustment to rates became effective with the first billing cycle of June 2019. 2018 Formula Rate Plan Filing In May 2019, Entergy Louisiana filed its formula rate plan evaluation report for its 2018 calendar year operations. The 2018 test year evaluation report produced an earned return on common equity of 10.61% leading to a base rider formula rate plan revenue decrease of $8.9 million . While base rider formula rate plan revenue decreased as a result of this filing, overall formula rate plan revenues increased by approximately $118.7 million . This outcome is primarily driven by a reduction to the credits previously flowed through the tax reform adjustment mechanism and an increase in the transmission recovery mechanism, partially offset by reductions in the additional capacity mechanism revenue requirements and extraordinary cost items. The filing is subject to review by the LPSC. Resulting rates were implemented in September 2019, subject to refund due to contested issues. Entergy Louisiana also included in its filing a presentation of an initial proposal to combine the legacy Entergy Louisiana and legacy Entergy Gulf States Louisiana residential rates, which combination, if approved, would be accomplished on a revenue-neutral basis intended not to affect the rates of other customer classes. Entergy Louisiana contemplates that any combination of residential rates resulting from this request would be implemented with the results of the 2019 test year formula rate plan filing. Several parties intervened in the proceeding and the LPSC staff filed its report of objections/reservations in accordance with the applicable provisions of the formula rate plan. In its report the LPSC staff re-urged reservations with respect to the outstanding issues from the 2017 test year formula rate plan filing and disputed the inclusion of certain affiliate costs for test years 2017 and 2018. The LPSC staff objected to Entergy Louisiana’s proposal to combine residential rates but proposed the setting of a status conference to establish a procedural schedule to more fully address the issue. The LPSC staff also reserved its right to object to the treatment of the sale of Willow Glen reflected in the evaluation report and to the August 2019 compliance update, which was made primarily to update the capital additions reflected in the formula rate plan’s transmission recovery mechanism, based on limited time to review it. Additionally, since the completion of certain transmission projects, the LPSC staff has issued supplemental data requests addressing the prudence of Entergy Louisiana’s expenditures in connection with those projects. Entergy Louisiana is in the process of responding to those requests. Investigation of Costs Billed by Entergy Services In November 2018 the LPSC issued a notice of proceeding initiating an investigation into costs incurred by Entergy Services that are included in the retail rates of Entergy Louisiana. As noted in the notice of proceeding, the LPSC observed an increase in capital construction-related costs that have been incurred by Entergy Services. Discovery is ongoing and has included efforts to seek highly detailed information on a broad range of matters unrelated to the scope of the audit. Retail Rates - Gas 2018 Rate Stabilization Plan Filing As discussed in the Form 10-K, in January 2019, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2018. Entergy Louisiana made a compliance filing in April 2019 and rates were implemented during the first billing cycle of May 2019, subject to refund and final LPSC review. Gas Rate Stabilization Plan Extension Request In August 2019, Entergy Louisiana submitted an application to the LPSC seeking extension of the gas rate stabilization plan for the 2019-2021 test years. The LPSC has established a procedural schedule to address this request with a hearing scheduled in May 2020. Filings with the MPSC (Entergy Mississippi) Formula Rate Plan In March 2019, Entergy Mississippi submitted its formula rate plan 2019 test year filing and 2018 look-back filing showing Entergy Mississippi’s earned return for the historical 2018 calendar year to be above the formula rate plan bandwidth and projected earned return for the 2019 calendar year to be below the formula rate plan bandwidth. The 2019 test year filing shows a $36.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.94% return on rate base, within the formula rate plan bandwidth. The 2018 look-back filing compares actual 2018 results to the approved benchmark return on rate base and shows a $10.1 million interim decrease in formula rate plan revenues is necessary. In the fourth quarter 2018, Entergy Mississippi recorded a provision of $9.3 million that reflected the estimate of the difference between the 2018 expected earned rate of return on rate base and an established performance-adjusted benchmark rate of return under the formula rate plan performance-adjusted bandwidth mechanism. In the first quarter 2019, Entergy Mississippi recorded an increase of $0.8 million in the provision to reflect the amount shown in the look-back filing. In June 2019, Entergy Mississippi and the Mississippi Public Utilities Staff entered into a joint stipulation that confirmed that the 2019 test year filing showed that a $32.8 million rate increase is necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 6.93% return on rate base, within the formula rate plan bandwidth. Additionally, pursuant to the joint stipulation, Entergy Mississippi’s 2018 look-back filing reflected an earned return on rate base of 7.81% in calendar year 2018 which is above the look-back benchmark return on rate base of 7.13% , resulting in an $11 million decrease in formula rate plan revenues on an interim basis through June 2020. In the second quarter 2019, Entergy Mississippi recorded an additional $0.9 million increase in the provision to reflect the $11 million shown in the look-back filing. In June 2019 the MPSC approved the joint stipulation with rates effective for the first billing cycle of July 2019. Filings with the City Council (Entergy New Orleans) Retail Rates See the Form 10-K for discussion of the electric and gas base rate case filed by Entergy New Orleans in September 2018. The evidentiary hearing in this proceeding was held in June 2019. The record and post-hearing briefs were submitted in July 2019. In August 2019, Entergy New Orleans sent a letter to the City Council proposing a framework for settlement of the rate case. That framework includes, among other things: (1) a total reduction in revenues of approximately $30 million ( $27 million electric, $3 million gas); (2) a reduced return on common equity lower than 10.5% , but still commensurate with Entergy New Orleans’s level of risk, paired with three-year electric and gas formula rate plans with forward-looking features; (3) a demand-side management program intended to achieve greater penetration of the City Council’s Energy Smart programs and make progress towards the City Council’s energy efficiency goals. In October 2019 the City Council’s Utility Committee approved a resolution for consideration by the full City Council that included a 9.35% return on common equity, a total reduction in revenues of approximately $39 million ( $36 million electric; $3 million gas), and an equity ratio of the lesser of 50% or Entergy New Orleans’s actual equity ratio. Also in October 2019, Entergy New Orleans sent another letter to the City Council identifying certain issues with the proposed resolution and inviting the City Council to resume negotiations in an effort to address these issues. The City Council may consider the resolution at its November 7, 2019 meeting. Filings with the PUCT (Entergy Texas) Base Rate Case In January 2019, Entergy Texas filed for recovery of rate case expenses totaling $7.2 million . The amounts requested primarily include internal and external expenses related to litigating the 2018 base rate case. Parties filed testimony in April 2019 recommending a disallowance ranging from $3.2 million to $4.2 million of the $7.2 million requested. In May 2019, Entergy Texas filed rebuttal testimony responding to the parties’ positions . In September 2019 an order was issued abating the procedural schedule and scheduled hearing to allow the finalization of a settlement in principle reached among the parties. The settlement provides for a black box disallowance of $1.4 million . In the third quarter 2019, Entergy Texas recorded a provision for the 2018 base rate case expenses based on the settlement in principle. In October 2019 the settlement was filed for review by the PUCT. Other Filings In March 2019, Entergy Texas filed with the PUCT a request to set a new distribution cost recovery factor (DCRF) rider. The proposed new DCRF rider is designed to collect approximately $3.2 million annually from Entergy Texas’s retail customers based on its capital invested in distribution between January 1, 2018 and December 31, 2018. In September 2019 the PUCT issued an order approving rates, which had been effective on an interim basis since June 2019, at the level proposed in Entergy Texas’s application. In December 2018, Entergy Texas filed with the PUCT a request to set a new transmission cost recovery factor (TCRF) rider. The proposed new TCRF rider is designed to collect approximately $2.7 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and September 30, 2018. In April 2019 parties filed testimony proposing a load growth adjustment, which would have fully offset Entergy Texas’s proposed TCRF revenue requirement. In July 2019 the PUCT granted Entergy Texas’s application as filed to begin recovery of the requested $2.7 million annual revenue requirement, rejecting opposing parties’ proposed adjustment; however, the PUCT found that the question of prudence of the actual investment costs should be determined in Entergy Texas’s next rate case similar to the procedure used for the costs recovered through the DCRF rider. In October 2019 the PUCT issued an order on a motion for rehearing, clarifying and affirming its prior order granting Entergy Texas’s application as filed. Also in October 2019 a second motion for rehearing was filed, and Entergy Texas filed a response in opposition to the motion. The second motion for rehearing is pending before the PUCT. In August 2019, Entergy Texas filed with the PUCT a request to amend its TCRF rider. The proposed new TCRF rider is designed to collect approximately $19.4 million annually from Entergy Texas’s retail customers based on its capital invested in transmission between January 1, 2018 and June 30, 2019, which is $16.7 million in incremental annual revenue above the $2.7 million approved in the prior pending TCRF proceeding. The proceeding is currently pending. System Agreement Cost Equalization Proceedings As discussed in the Form 10-K, the hearing on the bandwidth calculation for the seven months June 1, 2005 through December 31, 2005 occurred in July 2016. The presiding judge issued an initial decision in November 2016. In the initial decision, the presiding judge agreed with the Utility operating companies’ position that: (1) interest on the bandwidth payments for the 2005 test period should be accrued from June 1, 2006 until the date that the bandwidth payments for that calculation are paid, which is consistent with how the Utility operating companies performed the calculation; and (2) a portion of Entergy Louisiana’s 2001-vintage Louisiana state net operating loss accumulated deferred income tax that results from the Vidalia tax deduction should be excluded from the 2005 test period bandwidth calculation. Various participants filed briefs on exceptions and/or briefs opposing exceptions related to the initial decision, including the LPSC, the APSC, the FERC trial staff, and Entergy Services. In May 2018 the FERC issued an order affirming the initial decision and ordered a comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and a recalculation of the 2006 and 2007 test years as a result of limited revisions. Entergy filed the comprehensive recalculation of the bandwidth payments/receipts for the seven months June 1, 2005 through December 31, 2005 and the 2006 and 2007 test years in July 2018. The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 These payments were made in July 2018. In January 2019 the FERC denied the LPSC’s request for rehearing of the May 2018 order. In May 2019 the FERC accepted the July 2018 compliance filing, and the LPSC sought rehearing of that decision in June 2019. Rough Production Cost Equalization 2010 Rate Filing Based on Calendar Year 2009 Production Costs In May 2010, Entergy filed with the FERC the 2010 rates in accordance with the FERC’s orders in the System Agreement proceeding, and supplemented the filing in September 2010. Several parties intervened in the proceeding at the FERC, including the LPSC and the City Council, which also filed protests. In July 2010 the FERC accepted Entergy’s proposed rates for filing, effective June 1, 2010, subject to refund. After an abeyance of the proceeding schedule, a hearing was held in March 2014 and in December 2015 the FERC issued an order. Among other things, the December 2015 order directed Entergy to submit a compliance filing. In January 2016 the LPSC, the APSC, and Entergy filed requests for rehearing of the FERC’s December 2015 order. In February 2016, Entergy submitted the compliance filing ordered in the December 2015 order. The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) In September 2016 the FERC accepted the February 2016 compliance filing subject to a further compliance filing made in November 2016. The further compliance filing was required as a result of an order issued in September 2016 ruling on the January 2016 rehearing requests filed by the LPSC, the APSC, and Entergy. In the order addressing the rehearing requests, the FERC granted the LPSC’s rehearing request and directed that interest be calculated on the payment/receipt amounts. The FERC also granted the APSC’s and Entergy’s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation. In November 2016, Entergy submitted its compliance filing in response to the FERC’s order on rehearing. The compliance filing included a revised calculation of the bandwidth true-up payments and receipts based on 2009 test year data and interest calculations. The LPSC protested the interest calculations. I n November 2017 the FERC issued an order rejecting the November 2016 compliance filing. The FERC determined that the payments detailed in the November 2016 compliance filing did not include adequate interest for the payments from Entergy Arkansas to Entergy Louisiana because it did not include interest on the principal portion of the payment that was made in February 2016. In December 2017, Entergy recalculated the interest pursuant to the November 2017 order. As a result of the recalculations, Entergy Arkansas owed very minor payments to Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. In June 2019 the FERC issued an order denying the LPSC’s rehearing request of FERC’s September 2016 order. The LPSC rehearing request asked the FERC to reverse its decision that both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes should be removed from the bandwidth calculation. Entergy Arkansas Opportunity Sales Proceeding As discussed in the Form 10-K, in December 2018, Entergy made a compliance filing in response to the FERC’s October 2018 order in the opportunity sales proceeding. The compliance filing provided a final calculation of Entergy Arkansas’s payments to the other Utility operating companies, including interest. No protests were filed in response to the December 2018 compliance filing. The December 2018 compliance filing is pending FERC action. In February 2019 the LPSC filed a new complaint relating to two issues that were raised in the opportunity sales proceeding, but that, in its October 2018 order, the FERC held were outside the scope of the proceeding. In March 2019, Entergy Services filed an answer and motion to dismiss the new complaint. In May 2019, Entergy Arkansas filed an application and supporting testimony with the APSC requesting approval of a special rider tariff to recover the costs of these payments from its retail customers over a 24-month period. The application requested that the APSC approve the rider to take effect within 30 days or, if suspended by the APSC as allowed by commission rule, approve the rider to take effect in the first billing cycle of the first month occurring 30 days after issuance of the APSC’s order approving the rider. In June 2019 the APSC suspended Entergy Arkansas’s tariff and granted Entergy Arkansas’s motion asking the APSC to establish the proceeding as the single designated proceeding in which interested parties may assert claims related to the appropriate retail rate treatment of the FERC’s October 2018 order and related FERC orders in the opportunity sales proceeding. Complaints Against System Energy Return on Equity and Capital Structure Complaints See the Form 10-K for a discussion of the return on equity complaints filed by the APSC and the MPSC and by the LPSC against System Energy. The LPSC’s complaint also includes a challenge to System Energy’s capital structure. In August 2018 the FERC issued an order dismissing the LPSC’s request to investigate System Energy’s capital structure and setting for hearing the return on equity complaint, with a refund effective date of April 27, 2018. The portion of the LPSC’s complaint dealing with return on equity was subsequently consolidated with the APSC and MPSC complaint for hearing. The parties are required to address an order (issued in a separate proceeding involving New England transmission owners) that proposed modifying the FERC’s standard methodology for determining return on equity. In September 2018, System Energy filed a request for rehearing and the LPSC filed a request for rehearing or reconsideration of the FERC’s August 2018 order. The LPSC’s request referenced an amended complaint that it filed on the same day raising the same capital structure claim the FERC had earlier dismissed. The FERC initiated a new proceeding for the amended capital structure complaint, and System Energy submitted a response in October 2018. In January 2019 the FERC set the amended capital structure complaint for settlement and hearing proceedings. Settlement procedures in the capital structure proceeding commenced in February 2019. As noted below, in June 2019 settlement discussions were terminated and the amended capital structure complaint was consolidated with the ongoing return on equity proceeding. In January 2019 the LPSC and the APSC and MPSC filed direct testimony in the return on equity proceeding. For the refund period January 23, 2017 through April 23, 2018, the LPSC argues for an authorized return on equity for System Energy of 7.81% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.24% . For the refund period April 27, 2018 through July 27, 2019, and for application on a prospective basis, the LPSC argues for an authorized return on equity for System Energy of 7.97% and the APSC and MPSC argue for an authorized return on equity for System Energy of 8.41% . In March 2019, System Energy submitted answering testimony in the return on equity proceeding. For the first refund period, System Energy’s testimony argues for a return on equity of 10.10% (median) or 10.70% (midpoint). For the second refund period, System Energy’s testimony shows that the calculated returns on equity for the first period fall within the range of presumptively just and reasonable returns on equity, and thus the second complaint should be dismissed (and the first period return on equity used going forward). If the FERC nonetheless were to set a new return on equity for the second period (and going forward), System Energy argues the return on equity should be either 10.32% (median) or 10.69% (midpoint). In May 2019 the FERC trial staff filed its direct and answering testimony in the return on equity proceeding. For the first refund period, the FERC trial staff calculates an authorized return on equity for System Energy of 9.89% based on the application of FERC’s proposed methodology. The FERC trial staff’s direct and answering testimony noted that an authorized return on equity of 9.89% for the first refund period was within the range of presumptively just and reasonable returns on equity for the second refund period, as calculated using a study period ending January 31, 2019 for the second refund period. In June 2019, System Entergy filed testimony responding to the testimony filed by the FERC trial staff. Among other things, System Energy’s testimony rebutted arguments raised by the FERC trial staff and provided updated calculations for the second refund period based on the study period ending May 31, 2019. For that refund period, System Energy’s testimony shows that strict application of the return on equity methodology proposed by the FERC trial staff indicates that the second complaint would not be dismissed, and the ne |
Equity
Equity | 9 Months Ended |
Sep. 30, 2019 | |
Equity | EQUITY (Entergy Corporation, Entergy Louisiana, and Entergy Texas) Common Stock Earnings per Share The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements: For the Three Months Ended September 30, 2019 2018 (In Millions, Except Per Share Data) Income Shares $/share Income Shares $/share Basic earnings per share Net income attributable to Entergy Corporation $365.2 198.9 $1.84 $536.4 181.0 $2.96 Average dilutive effect of: Stock options 0.7 (0.01 ) 0.4 (0.01 ) Other equity plans 0.9 (0.01 ) 0.8 (0.01 ) Equity forwards — — 1.5 (0.02 ) Diluted earnings per share $365.2 200.5 $1.82 $536.4 183.7 $2.92 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 1.1 million for the three months ended September 30, 2018 . For the Nine Months Ended September 30, 2019 2018 (In Millions, Except Per Share Data) Income Shares $/share Income Shares $/share Basic earnings per share Net income attributable to Entergy Corporation $856.2 193.9 $4.42 $914.6 180.8 $5.06 Average dilutive effect of: Stock options 0.5 (0.01 ) 0.3 (0.01 ) Other equity plans 0.7 (0.02 ) 0.7 (0.01 ) Equity forwards 0.6 (0.01 ) 0.9 (0.03 ) Diluted earnings per share $856.2 195.7 $4.38 $914.6 182.7 $5.01 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 0.2 million for the nine months ended September 30, 2019 and approximately 1.1 million for the nine months ended September 30, 2018 . Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K. Dividends declared per common share were $0.91 for the three months ended September 30, 2019 and $0.89 for the three months ended September 30, 2018 . Dividends declared per common share were $2.73 for the nine months ended September 30, 2019 and $2.67 for the nine months ended September 30, 2018 . Equity Forward Sale Agreements As discussed in Note 7 to the financial statements in the Form 10-K, in June 2018, Entergy marketed an equity offering of 15.3 million shares of common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with various investment banks. In December 2018, Entergy physically settled a portion of its obligations under the forward sale agreements by delivering 6,834,221 shares of common stock in exchange for cash proceeds of approximately $500 million . In May 2019, Entergy physically settled the remaining 8,448,171 shares of common stock in exchange for cash proceeds of approximately $608 million . Treasury Stock During the nine months ended September 30, 2019 , Entergy Corporation issued 1,582,916 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, 2019 . Retained Earnings On October 25, 2019, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.93 per share, payable on December 2, 2019, to holders of record as of November 7, 2019. Entergy implemented ASU No. 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” effective January 1, 2019. The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by approximately $8 million as of January 1, 2019 for the cumulative effect of the ineffectiveness portion of designated hedges on nuclear power sales. Entergy implemented ASU 2017-08 “Receivables (Topic 310): Nonrefundable Fees and Other Costs” effective January 1, 2019. The ASU amends the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Entergy implemented this standard using the modified retrospective approach, and recorded an adjustment decreasing retained earnings and decreasing accumulated other comprehensive loss by approximately $1 million as of January 1, 2019 for the cumulative effect of the amended amortization period. Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2019 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2019 $51,736 ($508,876 ) $26,736 ($430,404 ) Other comprehensive income (loss) before reclassifications (5,190 ) — 8,350 3,160 Amounts reclassified from accumulated other comprehensive income (loss) (14,913 ) 25,464 (3,079 ) 7,472 Net other comprehensive income (loss) for the period (20,103 ) 25,464 5,271 10,632 Ending balance, September 30, 2019 $31,633 ($483,412 ) $32,007 ($419,772 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2018 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2018 ($14,874 ) ($589,926 ) ($8,842 ) ($613,642 ) Other comprehensive income (loss) before reclassifications (40,401 ) — (7,173 ) (47,574 ) Amounts reclassified from accumulated other comprehensive income (loss) 8,397 15,265 5,428 29,090 Net other comprehensive income (loss) for the period (32,004 ) 15,265 (1,745 ) (18,484 ) Ending balance, September 30, 2018 ($46,878 ) ($574,661 ) ($10,587 ) ($632,126 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2019 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 122,481 — 37,724 160,205 Amounts reclassified from accumulated other comprehensive income (loss) (60,028 ) 48,510 (4,480 ) (15,998 ) Net other comprehensive income (loss) for the period 62,453 48,510 33,244 144,207 Ending balance, September 30, 2019 $31,633 ($483,412 ) $32,007 ($419,772 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2018 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,816 ) — (50,958 ) (82,774 ) Amounts reclassified from accumulated other comprehensive income (loss) 30,171 47,404 13,716 91,291 Net other comprehensive income (loss) for the period (1,645 ) 47,404 (37,242 ) 8,517 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, September 30, 2018 ($46,878 ) ($574,661 ) ($10,587 ) ($632,126 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2019 and 2018: Pension and Other 2019 2018 (In Thousands) Beginning balance, July 1, ($8,091 ) ($57,451 ) Amounts reclassified from accumulated other (969 ) (500 ) Net other comprehensive income (loss) for the period (969 ) (500 ) Ending balance, September 30, ($9,060 ) ($57,951 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2019 and 2018: Pension and Other 2019 2018 (In Thousands) Beginning balance, January 1, ($6,153 ) ($46,400 ) Amounts reclassified from accumulated other (2,907 ) (1,502 ) Net other comprehensive income (loss) for the period (2,907 ) (1,502 ) Reclassification pursuant to ASU 2018-02 — (10,049 ) Ending balance, September 30, ($9,060 ) ($57,951 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the three months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $18,925 ($10,566 ) Competitive business operating revenues Interest rate swaps (48 ) (63 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 18,877 (10,629 ) (3,964 ) 2,232 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $14,913 ($8,397 ) Pension and other postretirement liabilities Amortization of prior-service credit $5,325 $5,425 (a) Amortization of loss (20,919 ) (24,740 ) (a) Settlement loss (16,630 ) (76 ) (a) Total amortization (32,224 ) (19,391 ) 6,760 4,126 Income taxes Total amortization (net of tax) ($25,464 ) ($15,265 ) Net unrealized investment gain (loss) Realized gain (loss) $4,872 ($8,589 ) Interest and investment income (1,793 ) 3,161 Income taxes Total realized investment gain (loss) (net of tax) $3,079 ($5,428 ) Total reclassifications for the period (net of tax) ($7,472 ) ($29,090 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the nine months ended September 30, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $76,129 ($37,913 ) Competitive business operating revenues Interest rate swaps (145 ) (278 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 75,984 (38,191 ) (15,956 ) 8,020 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $60,028 ($30,171 ) Pension and other postretirement liabilities Amortization of prior-service credit $15,977 $16,278 (a) Amortization of loss (58,888 ) (74,503 ) (a) Settlement loss (18,685 ) (2,098 ) (a) Total amortization (61,596 ) (60,323 ) 13,086 12,919 Income taxes Total amortization (net of tax) ($48,510 ) ($47,404 ) Net unrealized investment gain (loss) Realized gain (loss) $7,088 ($21,703 ) Interest and investment income (2,608 ) 7,987 Income taxes Total realized investment gain (loss) (net of tax) $4,480 ($13,716 ) Total reclassifications for the period (net of tax) $15,998 ($91,291 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the three months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,837 $1,934 (a) Amortization of loss (526 ) (1,257 ) (a) Total amortization 1,311 677 (342 ) (177 ) Income taxes Total amortization (net of tax) 969 500 Total reclassifications for the period (net of tax) $969 $500 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the nine months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,511 $5,802 (a) Amortization of loss (1,578 ) (3,770 ) (a) Total amortization 3,933 2,032 (1,026 ) (530 ) Income taxes Total amortization (net of tax) 2,907 1,502 Total reclassifications for the period (net of tax) $2,907 $1,502 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Preferred Stock In September 2019, Entergy Texas issued $35 million of 5.375% Series A preferred stock, a total of 1,400,000 shares with a liquidation value of $25 per share, all of which are outstanding as of September 30, 2019. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after October 15, 2024 at Entergy Texas’s option, at a fixed redemption price of $25 per share. Accounting standards regarding the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The outstanding preferred stock of Entergy Texas has protective rights with respect to unpaid dividends but provides for the election of board members that would not constitute a majority of the board, and the preferred stock of Entergy Texas is therefore classified as a component of equity. |
Entergy Texas [Member] | |
Equity | EQUITY (Entergy Corporation, Entergy Louisiana, and Entergy Texas) Common Stock Earnings per Share The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements: For the Three Months Ended September 30, 2019 2018 (In Millions, Except Per Share Data) Income Shares $/share Income Shares $/share Basic earnings per share Net income attributable to Entergy Corporation $365.2 198.9 $1.84 $536.4 181.0 $2.96 Average dilutive effect of: Stock options 0.7 (0.01 ) 0.4 (0.01 ) Other equity plans 0.9 (0.01 ) 0.8 (0.01 ) Equity forwards — — 1.5 (0.02 ) Diluted earnings per share $365.2 200.5 $1.82 $536.4 183.7 $2.92 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 1.1 million for the three months ended September 30, 2018 . For the Nine Months Ended September 30, 2019 2018 (In Millions, Except Per Share Data) Income Shares $/share Income Shares $/share Basic earnings per share Net income attributable to Entergy Corporation $856.2 193.9 $4.42 $914.6 180.8 $5.06 Average dilutive effect of: Stock options 0.5 (0.01 ) 0.3 (0.01 ) Other equity plans 0.7 (0.02 ) 0.7 (0.01 ) Equity forwards 0.6 (0.01 ) 0.9 (0.03 ) Diluted earnings per share $856.2 195.7 $4.38 $914.6 182.7 $5.01 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 0.2 million for the nine months ended September 30, 2019 and approximately 1.1 million for the nine months ended September 30, 2018 . Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K. Dividends declared per common share were $0.91 for the three months ended September 30, 2019 and $0.89 for the three months ended September 30, 2018 . Dividends declared per common share were $2.73 for the nine months ended September 30, 2019 and $2.67 for the nine months ended September 30, 2018 . Equity Forward Sale Agreements As discussed in Note 7 to the financial statements in the Form 10-K, in June 2018, Entergy marketed an equity offering of 15.3 million shares of common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with various investment banks. In December 2018, Entergy physically settled a portion of its obligations under the forward sale agreements by delivering 6,834,221 shares of common stock in exchange for cash proceeds of approximately $500 million . In May 2019, Entergy physically settled the remaining 8,448,171 shares of common stock in exchange for cash proceeds of approximately $608 million . Treasury Stock During the nine months ended September 30, 2019 , Entergy Corporation issued 1,582,916 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, 2019 . Retained Earnings On October 25, 2019, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.93 per share, payable on December 2, 2019, to holders of record as of November 7, 2019. Entergy implemented ASU No. 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” effective January 1, 2019. The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by approximately $8 million as of January 1, 2019 for the cumulative effect of the ineffectiveness portion of designated hedges on nuclear power sales. Entergy implemented ASU 2017-08 “Receivables (Topic 310): Nonrefundable Fees and Other Costs” effective January 1, 2019. The ASU amends the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Entergy implemented this standard using the modified retrospective approach, and recorded an adjustment decreasing retained earnings and decreasing accumulated other comprehensive loss by approximately $1 million as of January 1, 2019 for the cumulative effect of the amended amortization period. Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2019 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2019 $51,736 ($508,876 ) $26,736 ($430,404 ) Other comprehensive income (loss) before reclassifications (5,190 ) — 8,350 3,160 Amounts reclassified from accumulated other comprehensive income (loss) (14,913 ) 25,464 (3,079 ) 7,472 Net other comprehensive income (loss) for the period (20,103 ) 25,464 5,271 10,632 Ending balance, September 30, 2019 $31,633 ($483,412 ) $32,007 ($419,772 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2018 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2018 ($14,874 ) ($589,926 ) ($8,842 ) ($613,642 ) Other comprehensive income (loss) before reclassifications (40,401 ) — (7,173 ) (47,574 ) Amounts reclassified from accumulated other comprehensive income (loss) 8,397 15,265 5,428 29,090 Net other comprehensive income (loss) for the period (32,004 ) 15,265 (1,745 ) (18,484 ) Ending balance, September 30, 2018 ($46,878 ) ($574,661 ) ($10,587 ) ($632,126 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2019 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 122,481 — 37,724 160,205 Amounts reclassified from accumulated other comprehensive income (loss) (60,028 ) 48,510 (4,480 ) (15,998 ) Net other comprehensive income (loss) for the period 62,453 48,510 33,244 144,207 Ending balance, September 30, 2019 $31,633 ($483,412 ) $32,007 ($419,772 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2018 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,816 ) — (50,958 ) (82,774 ) Amounts reclassified from accumulated other comprehensive income (loss) 30,171 47,404 13,716 91,291 Net other comprehensive income (loss) for the period (1,645 ) 47,404 (37,242 ) 8,517 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, September 30, 2018 ($46,878 ) ($574,661 ) ($10,587 ) ($632,126 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2019 and 2018: Pension and Other 2019 2018 (In Thousands) Beginning balance, July 1, ($8,091 ) ($57,451 ) Amounts reclassified from accumulated other (969 ) (500 ) Net other comprehensive income (loss) for the period (969 ) (500 ) Ending balance, September 30, ($9,060 ) ($57,951 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2019 and 2018: Pension and Other 2019 2018 (In Thousands) Beginning balance, January 1, ($6,153 ) ($46,400 ) Amounts reclassified from accumulated other (2,907 ) (1,502 ) Net other comprehensive income (loss) for the period (2,907 ) (1,502 ) Reclassification pursuant to ASU 2018-02 — (10,049 ) Ending balance, September 30, ($9,060 ) ($57,951 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the three months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $18,925 ($10,566 ) Competitive business operating revenues Interest rate swaps (48 ) (63 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 18,877 (10,629 ) (3,964 ) 2,232 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $14,913 ($8,397 ) Pension and other postretirement liabilities Amortization of prior-service credit $5,325 $5,425 (a) Amortization of loss (20,919 ) (24,740 ) (a) Settlement loss (16,630 ) (76 ) (a) Total amortization (32,224 ) (19,391 ) 6,760 4,126 Income taxes Total amortization (net of tax) ($25,464 ) ($15,265 ) Net unrealized investment gain (loss) Realized gain (loss) $4,872 ($8,589 ) Interest and investment income (1,793 ) 3,161 Income taxes Total realized investment gain (loss) (net of tax) $3,079 ($5,428 ) Total reclassifications for the period (net of tax) ($7,472 ) ($29,090 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the nine months ended September 30, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $76,129 ($37,913 ) Competitive business operating revenues Interest rate swaps (145 ) (278 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 75,984 (38,191 ) (15,956 ) 8,020 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $60,028 ($30,171 ) Pension and other postretirement liabilities Amortization of prior-service credit $15,977 $16,278 (a) Amortization of loss (58,888 ) (74,503 ) (a) Settlement loss (18,685 ) (2,098 ) (a) Total amortization (61,596 ) (60,323 ) 13,086 12,919 Income taxes Total amortization (net of tax) ($48,510 ) ($47,404 ) Net unrealized investment gain (loss) Realized gain (loss) $7,088 ($21,703 ) Interest and investment income (2,608 ) 7,987 Income taxes Total realized investment gain (loss) (net of tax) $4,480 ($13,716 ) Total reclassifications for the period (net of tax) $15,998 ($91,291 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the three months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,837 $1,934 (a) Amortization of loss (526 ) (1,257 ) (a) Total amortization 1,311 677 (342 ) (177 ) Income taxes Total amortization (net of tax) 969 500 Total reclassifications for the period (net of tax) $969 $500 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the nine months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,511 $5,802 (a) Amortization of loss (1,578 ) (3,770 ) (a) Total amortization 3,933 2,032 (1,026 ) (530 ) Income taxes Total amortization (net of tax) 2,907 1,502 Total reclassifications for the period (net of tax) $2,907 $1,502 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Preferred Stock In September 2019, Entergy Texas issued $35 million of 5.375% Series A preferred stock, a total of 1,400,000 shares with a liquidation value of $25 per share, all of which are outstanding as of September 30, 2019. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after October 15, 2024 at Entergy Texas’s option, at a fixed redemption price of $25 per share. Accounting standards regarding the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The outstanding preferred stock of Entergy Texas has protective rights with respect to unpaid dividends but provides for the election of board members that would not constitute a majority of the board, and the preferred stock of Entergy Texas is therefore classified as a component of equity. |
Entergy Louisiana [Member] | |
Equity | EQUITY (Entergy Corporation, Entergy Louisiana, and Entergy Texas) Common Stock Earnings per Share The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements: For the Three Months Ended September 30, 2019 2018 (In Millions, Except Per Share Data) Income Shares $/share Income Shares $/share Basic earnings per share Net income attributable to Entergy Corporation $365.2 198.9 $1.84 $536.4 181.0 $2.96 Average dilutive effect of: Stock options 0.7 (0.01 ) 0.4 (0.01 ) Other equity plans 0.9 (0.01 ) 0.8 (0.01 ) Equity forwards — — 1.5 (0.02 ) Diluted earnings per share $365.2 200.5 $1.82 $536.4 183.7 $2.92 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 1.1 million for the three months ended September 30, 2018 . For the Nine Months Ended September 30, 2019 2018 (In Millions, Except Per Share Data) Income Shares $/share Income Shares $/share Basic earnings per share Net income attributable to Entergy Corporation $856.2 193.9 $4.42 $914.6 180.8 $5.06 Average dilutive effect of: Stock options 0.5 (0.01 ) 0.3 (0.01 ) Other equity plans 0.7 (0.02 ) 0.7 (0.01 ) Equity forwards 0.6 (0.01 ) 0.9 (0.03 ) Diluted earnings per share $856.2 195.7 $4.38 $914.6 182.7 $5.01 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 0.2 million for the nine months ended September 30, 2019 and approximately 1.1 million for the nine months ended September 30, 2018 . Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K. Dividends declared per common share were $0.91 for the three months ended September 30, 2019 and $0.89 for the three months ended September 30, 2018 . Dividends declared per common share were $2.73 for the nine months ended September 30, 2019 and $2.67 for the nine months ended September 30, 2018 . Equity Forward Sale Agreements As discussed in Note 7 to the financial statements in the Form 10-K, in June 2018, Entergy marketed an equity offering of 15.3 million shares of common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with various investment banks. In December 2018, Entergy physically settled a portion of its obligations under the forward sale agreements by delivering 6,834,221 shares of common stock in exchange for cash proceeds of approximately $500 million . In May 2019, Entergy physically settled the remaining 8,448,171 shares of common stock in exchange for cash proceeds of approximately $608 million . Treasury Stock During the nine months ended September 30, 2019 , Entergy Corporation issued 1,582,916 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, 2019 . Retained Earnings On October 25, 2019, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.93 per share, payable on December 2, 2019, to holders of record as of November 7, 2019. Entergy implemented ASU No. 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” effective January 1, 2019. The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Entergy implemented this standard using a modified retrospective method, and recorded an adjustment increasing retained earnings and increasing accumulated other comprehensive loss by approximately $8 million as of January 1, 2019 for the cumulative effect of the ineffectiveness portion of designated hedges on nuclear power sales. Entergy implemented ASU 2017-08 “Receivables (Topic 310): Nonrefundable Fees and Other Costs” effective January 1, 2019. The ASU amends the amortization period for certain purchased callable debt securities held at a premium to the earliest call date. Entergy implemented this standard using the modified retrospective approach, and recorded an adjustment decreasing retained earnings and decreasing accumulated other comprehensive loss by approximately $1 million as of January 1, 2019 for the cumulative effect of the amended amortization period. Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2019 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2019 $51,736 ($508,876 ) $26,736 ($430,404 ) Other comprehensive income (loss) before reclassifications (5,190 ) — 8,350 3,160 Amounts reclassified from accumulated other comprehensive income (loss) (14,913 ) 25,464 (3,079 ) 7,472 Net other comprehensive income (loss) for the period (20,103 ) 25,464 5,271 10,632 Ending balance, September 30, 2019 $31,633 ($483,412 ) $32,007 ($419,772 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2018 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2018 ($14,874 ) ($589,926 ) ($8,842 ) ($613,642 ) Other comprehensive income (loss) before reclassifications (40,401 ) — (7,173 ) (47,574 ) Amounts reclassified from accumulated other comprehensive income (loss) 8,397 15,265 5,428 29,090 Net other comprehensive income (loss) for the period (32,004 ) 15,265 (1,745 ) (18,484 ) Ending balance, September 30, 2018 ($46,878 ) ($574,661 ) ($10,587 ) ($632,126 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2019 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 122,481 — 37,724 160,205 Amounts reclassified from accumulated other comprehensive income (loss) (60,028 ) 48,510 (4,480 ) (15,998 ) Net other comprehensive income (loss) for the period 62,453 48,510 33,244 144,207 Ending balance, September 30, 2019 $31,633 ($483,412 ) $32,007 ($419,772 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2018 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,816 ) — (50,958 ) (82,774 ) Amounts reclassified from accumulated other comprehensive income (loss) 30,171 47,404 13,716 91,291 Net other comprehensive income (loss) for the period (1,645 ) 47,404 (37,242 ) 8,517 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, September 30, 2018 ($46,878 ) ($574,661 ) ($10,587 ) ($632,126 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2019 and 2018: Pension and Other 2019 2018 (In Thousands) Beginning balance, July 1, ($8,091 ) ($57,451 ) Amounts reclassified from accumulated other (969 ) (500 ) Net other comprehensive income (loss) for the period (969 ) (500 ) Ending balance, September 30, ($9,060 ) ($57,951 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2019 and 2018: Pension and Other 2019 2018 (In Thousands) Beginning balance, January 1, ($6,153 ) ($46,400 ) Amounts reclassified from accumulated other (2,907 ) (1,502 ) Net other comprehensive income (loss) for the period (2,907 ) (1,502 ) Reclassification pursuant to ASU 2018-02 — (10,049 ) Ending balance, September 30, ($9,060 ) ($57,951 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the three months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $18,925 ($10,566 ) Competitive business operating revenues Interest rate swaps (48 ) (63 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 18,877 (10,629 ) (3,964 ) 2,232 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $14,913 ($8,397 ) Pension and other postretirement liabilities Amortization of prior-service credit $5,325 $5,425 (a) Amortization of loss (20,919 ) (24,740 ) (a) Settlement loss (16,630 ) (76 ) (a) Total amortization (32,224 ) (19,391 ) 6,760 4,126 Income taxes Total amortization (net of tax) ($25,464 ) ($15,265 ) Net unrealized investment gain (loss) Realized gain (loss) $4,872 ($8,589 ) Interest and investment income (1,793 ) 3,161 Income taxes Total realized investment gain (loss) (net of tax) $3,079 ($5,428 ) Total reclassifications for the period (net of tax) ($7,472 ) ($29,090 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the nine months ended September 30, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $76,129 ($37,913 ) Competitive business operating revenues Interest rate swaps (145 ) (278 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 75,984 (38,191 ) (15,956 ) 8,020 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $60,028 ($30,171 ) Pension and other postretirement liabilities Amortization of prior-service credit $15,977 $16,278 (a) Amortization of loss (58,888 ) (74,503 ) (a) Settlement loss (18,685 ) (2,098 ) (a) Total amortization (61,596 ) (60,323 ) 13,086 12,919 Income taxes Total amortization (net of tax) ($48,510 ) ($47,404 ) Net unrealized investment gain (loss) Realized gain (loss) $7,088 ($21,703 ) Interest and investment income (2,608 ) 7,987 Income taxes Total realized investment gain (loss) (net of tax) $4,480 ($13,716 ) Total reclassifications for the period (net of tax) $15,998 ($91,291 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the three months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,837 $1,934 (a) Amortization of loss (526 ) (1,257 ) (a) Total amortization 1,311 677 (342 ) (177 ) Income taxes Total amortization (net of tax) 969 500 Total reclassifications for the period (net of tax) $969 $500 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the nine months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,511 $5,802 (a) Amortization of loss (1,578 ) (3,770 ) (a) Total amortization 3,933 2,032 (1,026 ) (530 ) Income taxes Total amortization (net of tax) 2,907 1,502 Total reclassifications for the period (net of tax) $2,907 $1,502 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Preferred Stock In September 2019, Entergy Texas issued $35 million of 5.375% Series A preferred stock, a total of 1,400,000 shares with a liquidation value of $25 per share, all of which are outstanding as of September 30, 2019. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after October 15, 2024 at Entergy Texas’s option, at a fixed redemption price of $25 per share. Accounting standards regarding the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The outstanding preferred stock of Entergy Texas has protective rights with respect to unpaid dividends but provides for the election of board members that would not constitute a majority of the board, and the preferred stock of Entergy Texas is therefore classified as a component of equity. |
Revolving Credit Facilities, Li
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | 9 Months Ended |
Sep. 30, 2019 | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2019 was 3.94% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $155 $6 $3,339 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . At September 30, 2019 , Entergy Corporation had approximately $1,918 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2019 was 2.88% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in November 2020. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2019 was 4.07% on the drawn portion of the facility. See Note 14 to the financial statements in the Form 10-K and Note 16 to the financial statements herein for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Debt Issuances and Retirements (Entergy Arkansas) In March 2019, Entergy Arkansas issued $350 million of 4.20% Series mortgage bonds due April 2049. Entergy Arkansas is using the proceeds for general corporate purposes. (Entergy Louisiana) In March 2019, Entergy Louisiana issued $525 million of 4.20% Series mortgage bonds due April 2050. Entergy Louisiana is using the proceeds, together with other funds, to finance the construction of the Lake Charles Power Station and the St. Charles Power Station, and for general corporate purposes. (Entergy Mississippi) In June 2019, Entergy Mississippi issued $300 million of 3.85% Series mortgage bonds due June 2049. Entergy Mississippi used the proceeds to repay, at maturity, its $150 million of 6.64% Series mortgage bonds due July 2019 and for general corporate purposes. (Entergy Texas) In January 2019, Entergy Texas issued $300 million of 4.0% Series mortgage bonds due March 2029 and $400 million of 4.5% Series mortgage bonds due March 2039. Entergy Texas used the proceeds to repay, at maturity, its $500 million of 7.125% Series mortgage bonds due February 2019 and for general corporate purposes. In September 2019, Entergy Texas issued $300 million of 3.55% Series mortgage bonds due September 2049. Entergy Texas is using the proceeds, together with other funds, to finance the construction of the Montgomery County Power Station, and for general corporate purposes. (System Energy) In March 2019, System Energy issued $134 million of 2.50% Series 2019 revenue refunding bonds due April 2022. The proceeds were used to redeem, prior to maturity, $134 million of 5.875% Series 1998 pollution control revenue refunding bonds due April 2022. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Entergy Arkansas [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2019 was 3.94% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $155 $6 $3,339 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . At September 30, 2019 , Entergy Corporation had approximately $1,918 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2019 was 2.88% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in November 2020. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2019 was 4.07% on the drawn portion of the facility. See Note 14 to the financial statements in the Form 10-K and Note 16 to the financial statements herein for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Debt Issuances and Retirements (Entergy Arkansas) In March 2019, Entergy Arkansas issued $350 million of 4.20% Series mortgage bonds due April 2049. Entergy Arkansas is using the proceeds for general corporate purposes. (Entergy Louisiana) In March 2019, Entergy Louisiana issued $525 million of 4.20% Series mortgage bonds due April 2050. Entergy Louisiana is using the proceeds, together with other funds, to finance the construction of the Lake Charles Power Station and the St. Charles Power Station, and for general corporate purposes. (Entergy Mississippi) In June 2019, Entergy Mississippi issued $300 million of 3.85% Series mortgage bonds due June 2049. Entergy Mississippi used the proceeds to repay, at maturity, its $150 million of 6.64% Series mortgage bonds due July 2019 and for general corporate purposes. (Entergy Texas) In January 2019, Entergy Texas issued $300 million of 4.0% Series mortgage bonds due March 2029 and $400 million of 4.5% Series mortgage bonds due March 2039. Entergy Texas used the proceeds to repay, at maturity, its $500 million of 7.125% Series mortgage bonds due February 2019 and for general corporate purposes. In September 2019, Entergy Texas issued $300 million of 3.55% Series mortgage bonds due September 2049. Entergy Texas is using the proceeds, together with other funds, to finance the construction of the Montgomery County Power Station, and for general corporate purposes. (System Energy) In March 2019, System Energy issued $134 million of 2.50% Series 2019 revenue refunding bonds due April 2022. The proceeds were used to redeem, prior to maturity, $134 million of 5.875% Series 1998 pollution control revenue refunding bonds due April 2022. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Entergy Louisiana [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2019 was 3.94% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $155 $6 $3,339 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . At September 30, 2019 , Entergy Corporation had approximately $1,918 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2019 was 2.88% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in November 2020. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2019 was 4.07% on the drawn portion of the facility. See Note 14 to the financial statements in the Form 10-K and Note 16 to the financial statements herein for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Debt Issuances and Retirements (Entergy Arkansas) In March 2019, Entergy Arkansas issued $350 million of 4.20% Series mortgage bonds due April 2049. Entergy Arkansas is using the proceeds for general corporate purposes. (Entergy Louisiana) In March 2019, Entergy Louisiana issued $525 million of 4.20% Series mortgage bonds due April 2050. Entergy Louisiana is using the proceeds, together with other funds, to finance the construction of the Lake Charles Power Station and the St. Charles Power Station, and for general corporate purposes. (Entergy Mississippi) In June 2019, Entergy Mississippi issued $300 million of 3.85% Series mortgage bonds due June 2049. Entergy Mississippi used the proceeds to repay, at maturity, its $150 million of 6.64% Series mortgage bonds due July 2019 and for general corporate purposes. (Entergy Texas) In January 2019, Entergy Texas issued $300 million of 4.0% Series mortgage bonds due March 2029 and $400 million of 4.5% Series mortgage bonds due March 2039. Entergy Texas used the proceeds to repay, at maturity, its $500 million of 7.125% Series mortgage bonds due February 2019 and for general corporate purposes. In September 2019, Entergy Texas issued $300 million of 3.55% Series mortgage bonds due September 2049. Entergy Texas is using the proceeds, together with other funds, to finance the construction of the Montgomery County Power Station, and for general corporate purposes. (System Energy) In March 2019, System Energy issued $134 million of 2.50% Series 2019 revenue refunding bonds due April 2022. The proceeds were used to redeem, prior to maturity, $134 million of 5.875% Series 1998 pollution control revenue refunding bonds due April 2022. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Entergy Mississippi [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2019 was 3.94% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $155 $6 $3,339 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . At September 30, 2019 , Entergy Corporation had approximately $1,918 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2019 was 2.88% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in November 2020. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2019 was 4.07% on the drawn portion of the facility. See Note 14 to the financial statements in the Form 10-K and Note 16 to the financial statements herein for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Debt Issuances and Retirements (Entergy Arkansas) In March 2019, Entergy Arkansas issued $350 million of 4.20% Series mortgage bonds due April 2049. Entergy Arkansas is using the proceeds for general corporate purposes. (Entergy Louisiana) In March 2019, Entergy Louisiana issued $525 million of 4.20% Series mortgage bonds due April 2050. Entergy Louisiana is using the proceeds, together with other funds, to finance the construction of the Lake Charles Power Station and the St. Charles Power Station, and for general corporate purposes. (Entergy Mississippi) In June 2019, Entergy Mississippi issued $300 million of 3.85% Series mortgage bonds due June 2049. Entergy Mississippi used the proceeds to repay, at maturity, its $150 million of 6.64% Series mortgage bonds due July 2019 and for general corporate purposes. (Entergy Texas) In January 2019, Entergy Texas issued $300 million of 4.0% Series mortgage bonds due March 2029 and $400 million of 4.5% Series mortgage bonds due March 2039. Entergy Texas used the proceeds to repay, at maturity, its $500 million of 7.125% Series mortgage bonds due February 2019 and for general corporate purposes. In September 2019, Entergy Texas issued $300 million of 3.55% Series mortgage bonds due September 2049. Entergy Texas is using the proceeds, together with other funds, to finance the construction of the Montgomery County Power Station, and for general corporate purposes. (System Energy) In March 2019, System Energy issued $134 million of 2.50% Series 2019 revenue refunding bonds due April 2022. The proceeds were used to redeem, prior to maturity, $134 million of 5.875% Series 1998 pollution control revenue refunding bonds due April 2022. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Entergy New Orleans [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2019 was 3.94% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $155 $6 $3,339 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . At September 30, 2019 , Entergy Corporation had approximately $1,918 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2019 was 2.88% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in November 2020. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2019 was 4.07% on the drawn portion of the facility. See Note 14 to the financial statements in the Form 10-K and Note 16 to the financial statements herein for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Debt Issuances and Retirements (Entergy Arkansas) In March 2019, Entergy Arkansas issued $350 million of 4.20% Series mortgage bonds due April 2049. Entergy Arkansas is using the proceeds for general corporate purposes. (Entergy Louisiana) In March 2019, Entergy Louisiana issued $525 million of 4.20% Series mortgage bonds due April 2050. Entergy Louisiana is using the proceeds, together with other funds, to finance the construction of the Lake Charles Power Station and the St. Charles Power Station, and for general corporate purposes. (Entergy Mississippi) In June 2019, Entergy Mississippi issued $300 million of 3.85% Series mortgage bonds due June 2049. Entergy Mississippi used the proceeds to repay, at maturity, its $150 million of 6.64% Series mortgage bonds due July 2019 and for general corporate purposes. (Entergy Texas) In January 2019, Entergy Texas issued $300 million of 4.0% Series mortgage bonds due March 2029 and $400 million of 4.5% Series mortgage bonds due March 2039. Entergy Texas used the proceeds to repay, at maturity, its $500 million of 7.125% Series mortgage bonds due February 2019 and for general corporate purposes. In September 2019, Entergy Texas issued $300 million of 3.55% Series mortgage bonds due September 2049. Entergy Texas is using the proceeds, together with other funds, to finance the construction of the Montgomery County Power Station, and for general corporate purposes. (System Energy) In March 2019, System Energy issued $134 million of 2.50% Series 2019 revenue refunding bonds due April 2022. The proceeds were used to redeem, prior to maturity, $134 million of 5.875% Series 1998 pollution control revenue refunding bonds due April 2022. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Entergy Texas [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2019 was 3.94% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $155 $6 $3,339 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . At September 30, 2019 , Entergy Corporation had approximately $1,918 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2019 was 2.88% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in November 2020. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2019 was 4.07% on the drawn portion of the facility. See Note 14 to the financial statements in the Form 10-K and Note 16 to the financial statements herein for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Debt Issuances and Retirements (Entergy Arkansas) In March 2019, Entergy Arkansas issued $350 million of 4.20% Series mortgage bonds due April 2049. Entergy Arkansas is using the proceeds for general corporate purposes. (Entergy Louisiana) In March 2019, Entergy Louisiana issued $525 million of 4.20% Series mortgage bonds due April 2050. Entergy Louisiana is using the proceeds, together with other funds, to finance the construction of the Lake Charles Power Station and the St. Charles Power Station, and for general corporate purposes. (Entergy Mississippi) In June 2019, Entergy Mississippi issued $300 million of 3.85% Series mortgage bonds due June 2049. Entergy Mississippi used the proceeds to repay, at maturity, its $150 million of 6.64% Series mortgage bonds due July 2019 and for general corporate purposes. (Entergy Texas) In January 2019, Entergy Texas issued $300 million of 4.0% Series mortgage bonds due March 2029 and $400 million of 4.5% Series mortgage bonds due March 2039. Entergy Texas used the proceeds to repay, at maturity, its $500 million of 7.125% Series mortgage bonds due February 2019 and for general corporate purposes. In September 2019, Entergy Texas issued $300 million of 3.55% Series mortgage bonds due September 2049. Entergy Texas is using the proceeds, together with other funds, to finance the construction of the Montgomery County Power Station, and for general corporate purposes. (System Energy) In March 2019, System Energy issued $134 million of 2.50% Series 2019 revenue refunding bonds due April 2022. The proceeds were used to redeem, prior to maturity, $134 million of 5.875% Series 1998 pollution control revenue refunding bonds due April 2022. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
System Energy [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in September 2024. The facility includes fronting commitments for the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate for the nine months ended September 30, 2019 was 3.94% 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, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $155 $6 $3,339 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . At September 30, 2019 , Entergy Corporation had approximately $1,918 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2019 was 2.88% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.225% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits for Entergy New Orleans are effective through October 31, 2021. The current FERC-authorized limits for Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy are effective through November 8, 2020. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short-term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— Vermont Yankee Asset Retirement Management, LLC Credit Facility In January 2019, Entergy Nuclear Vermont Yankee was transferred to NorthStar and its credit facility was assumed by Vermont Yankee Asset Retirement Management, LLC, Entergy Nuclear Vermont Yankee’s parent company that remains an Entergy subsidiary after the transfer. The credit facility has a borrowing capacity of $139 million and expires in November 2020. The commitment fee is currently 0.20% of the undrawn commitment amount. As of September 30, 2019 , $139 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2019 was 4.07% on the drawn portion of the facility. See Note 14 to the financial statements in the Form 10-K and Note 16 to the financial statements herein for discussion of the transfer of Entergy Nuclear Vermont Yankee to NorthStar. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Debt Issuances and Retirements (Entergy Arkansas) In March 2019, Entergy Arkansas issued $350 million of 4.20% Series mortgage bonds due April 2049. Entergy Arkansas is using the proceeds for general corporate purposes. (Entergy Louisiana) In March 2019, Entergy Louisiana issued $525 million of 4.20% Series mortgage bonds due April 2050. Entergy Louisiana is using the proceeds, together with other funds, to finance the construction of the Lake Charles Power Station and the St. Charles Power Station, and for general corporate purposes. (Entergy Mississippi) In June 2019, Entergy Mississippi issued $300 million of 3.85% Series mortgage bonds due June 2049. Entergy Mississippi used the proceeds to repay, at maturity, its $150 million of 6.64% Series mortgage bonds due July 2019 and for general corporate purposes. (Entergy Texas) In January 2019, Entergy Texas issued $300 million of 4.0% Series mortgage bonds due March 2029 and $400 million of 4.5% Series mortgage bonds due March 2039. Entergy Texas used the proceeds to repay, at maturity, its $500 million of 7.125% Series mortgage bonds due February 2019 and for general corporate purposes. In September 2019, Entergy Texas issued $300 million of 3.55% Series mortgage bonds due September 2049. Entergy Texas is using the proceeds, together with other funds, to finance the construction of the Montgomery County Power Station, and for general corporate purposes. (System Energy) In March 2019, System Energy issued $134 million of 2.50% Series 2019 revenue refunding bonds due April 2022. The proceeds were used to redeem, prior to maturity, $134 million of 5.875% Series 1998 pollution control revenue refunding bonds due April 2022. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Entergy Corporation [Member] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION (Entergy Corporation) Entergy grants stock and stock-based 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 options on 693,161 shares of its common stock under the 2015 Equity Ownership Plan during the first quarter 2019 with a fair value of $8.32 per option. As of September 30, 2019 , there were options on 2,515,896 shares of common stock outstanding with a weighted-average exercise price of $78.53 . The intrinsic value, which has no effect on net income, of the outstanding stock options is calculated by the positive difference between the weighted average exercise price of the stock options granted and Entergy Corporation’s common stock price as of September 30, 2019 . The aggregate intrinsic value of the stock options outstanding as of September 30, 2019 was $97.7 million . The following table includes financial information for outstanding stock options for the three months ended September 30, 2019 and 2018 : 2019 2018 (In Millions) Compensation expense included in Entergy’s net income $0.9 $1.1 Tax benefit recognized in Entergy’s net income $0.2 $0.2 Compensation cost capitalized as part of fixed assets and materials and supplies $0.4 $0.1 The following table includes financial information for outstanding stock options for the nine months ended September 30, 2019 and 2018 : 2019 2018 (In Millions) Compensation expense included in Entergy’s net income $2.9 $3.3 Tax benefit recognized in Entergy’s net income $0.7 $0.8 Compensation cost capitalized as part of fixed assets and materials and supplies $1.0 $0.5 Other Equity Awards In January 2019, the Board approved and Entergy granted 355,537 restricted stock awards and 180,824 long-term incentive awards under the 2015 Equity Ownership Plan. The restricted stock awards were made effective as of January 31, 2019 and were valued at $89.19 per share, which was the closing price of Entergy’s common stock on that date. One-third of the restricted stock awards will vest upon each anniversary of the grant date. Shares of restricted stock 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. In addition, long-term incentive awards were also granted in the form of performance units that represent the value of, and are settled with, one share of Entergy Corporation common stock at the end of the three-year performance period, plus dividends accrued during the performance period on the number of performance units earned. For the 2019-2021 performance period, performance will be measured based eighty percent on relative total shareholder return and twenty percent on a cumulative adjusted earnings per share metric. The performance units were granted as of January 31, 2019 and eighty percent were valued at $102.07 per share based on various factors, primarily market conditions; and twenty percent were valued at $89.19 per share, the closing price of Entergy’s common stock on that date. Performance units have the same dividend rights as shares of Entergy common stock and are considered issued and outstanding shares of Entergy upon vesting. Performance units are expensed ratably over the three-year vesting period and compensation cost for the portion of the award based on cumulative adjusted earnings per share will be adjusted based on the number of units that ultimately vest. See Note 12 to the financial statements in the Form 10-K for a description of the Long-Term Performance Unit Program. The following table includes financial information for other outstanding equity awards for the three months ended September 30, 2019 and 2018 : 2019 2018 (In Millions) Compensation expense included in Entergy’s net income $8.4 $8.5 Tax benefit recognized in Entergy’s net income $2.1 $2.2 Compensation cost capitalized as part of fixed assets and materials and supplies $3.0 $2.5 The following table includes financial information for other outstanding equity awards for the nine months ended September 30, 2019 and 2018 : 2019 2018 (In Millions) Compensation expense included in Entergy’s net income $25.6 $26.0 Tax benefit recognized in Entergy’s net income $6.5 $6.6 Compensation cost capitalized as part of fixed assets and materials and supplies $8.8 $7.3 |
Retirement And Other Postretire
Retirement And Other Postretirement Benefits | 9 Months Ended |
Sep. 30, 2019 | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, 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 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $33,553 $38,752 Interest cost on projected benefit obligation 73,261 66,854 Expected return on assets (103,751 ) (110,535 ) Amortization of prior service cost — 99 Amortization of net loss 60,395 68,526 Settlement charges 16,291 — Net pension costs $79,749 $63,696 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $100,766 $116,256 Interest cost on projected benefit obligation 221,114 200,562 Expected return on assets (311,494 ) (331,605 ) Amortization of prior service cost — 297 Amortization of net loss 177,233 205,578 Settlement charges 17,591 — Net pension costs $205,210 $191,088 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 Non-Qualified Net Pension Cost Entergy recognized $4.6 million and $4.2 million in pension cost for its non-qualified pension plans in the third quarters of 2019 and 2018 , respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2019 and 2018 were settlement charges of $955 thousand and $212 thousand , respectively, related to the payment of lump sum benefits out of the plan. Entergy recognized $16.3 million and $19.7 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2019 and 2018, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2019 and 2018 were settlement charges of $4.6 million and $7 million , respectively, 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 for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the third quarters of 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $4,675 $6,782 Interest cost on accumulated postretirement benefit obligation (APBO) 11,975 12,681 Expected return on assets (9,562 ) (10,373 ) Amortization of prior service credit (8,844 ) (9,251 ) Amortization of net loss 358 3,432 Net other postretirement benefit cost (income) ($1,398 ) $3,271 Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $14,025 $20,346 Interest cost on accumulated postretirement benefit obligation (APBO) 35,925 38,043 Expected return on assets (28,686 ) (31,119 ) Amortization of prior service credit (26,532 ) (27,753 ) Amortization of net loss 1,074 10,296 Net other postretirement benefit cost (income) ($4,194 ) $9,813 The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,375 ($50 ) $5,325 Amortization of net gain (loss) (20,686 ) 308 (541 ) (20,919 ) Settlement loss (16,257 ) — (373 ) (16,630 ) ($36,943 ) $5,683 ($964 ) ($32,224 ) Entergy Louisiana Amortization of prior service credit $— $1,837 $— $1,837 Amortization of net gain (loss) (699 ) 174 (1 ) (526 ) ($699 ) $2,011 ($1 ) $1,311 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($99 ) $5,595 ($71 ) $5,425 Amortization of net loss (21,958 ) (1,932 ) (850 ) (24,740 ) Settlement loss — — (76 ) (76 ) ($22,057 ) $3,663 ($997 ) ($19,391 ) Entergy Louisiana Amortization of prior service credit $— $1,934 $— $1,934 Amortization of net loss (867 ) (388 ) (2 ) (1,257 ) ($867 ) $1,546 ($2 ) $677 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $16,125 ($148 ) $15,977 Amortization of net gain (loss) (58,156 ) 923 (1,655 ) (58,888 ) Settlement loss (17,557 ) — (1,128 ) (18,685 ) ($75,713 ) $17,048 ($2,931 ) ($61,596 ) Entergy Louisiana Amortization of prior service credit $— $5,511 $— $5,511 Amortization of net gain (loss) (2,096 ) 522 (4 ) (1,578 ) ($2,096 ) $6,033 ($4 ) $3,933 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($297 ) $16,786 ($211 ) $16,278 Amortization of net loss (65,870 ) (5,801 ) (2,832 ) (74,503 ) Settlement loss — — (2,098 ) (2,098 ) ($66,167 ) $10,985 ($5,141 ) ($60,323 ) Entergy Louisiana Amortization of prior service credit $— $5,802 $— $5,802 Amortization of net loss (2,601 ) (1,164 ) (5 ) (3,770 ) ($2,601 ) $4,638 ($5 ) $2,032 Employer Contributions Based on current assumptions, Entergy expects to contribute $176.9 million to its qualified pension plans in 2019. As of September 30, 2019 , Entergy had contributed $123.1 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 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Entergy Arkansas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, 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 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $33,553 $38,752 Interest cost on projected benefit obligation 73,261 66,854 Expected return on assets (103,751 ) (110,535 ) Amortization of prior service cost — 99 Amortization of net loss 60,395 68,526 Settlement charges 16,291 — Net pension costs $79,749 $63,696 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $100,766 $116,256 Interest cost on projected benefit obligation 221,114 200,562 Expected return on assets (311,494 ) (331,605 ) Amortization of prior service cost — 297 Amortization of net loss 177,233 205,578 Settlement charges 17,591 — Net pension costs $205,210 $191,088 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 Non-Qualified Net Pension Cost Entergy recognized $4.6 million and $4.2 million in pension cost for its non-qualified pension plans in the third quarters of 2019 and 2018 , respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2019 and 2018 were settlement charges of $955 thousand and $212 thousand , respectively, related to the payment of lump sum benefits out of the plan. Entergy recognized $16.3 million and $19.7 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2019 and 2018, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2019 and 2018 were settlement charges of $4.6 million and $7 million , respectively, 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 for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the third quarters of 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $4,675 $6,782 Interest cost on accumulated postretirement benefit obligation (APBO) 11,975 12,681 Expected return on assets (9,562 ) (10,373 ) Amortization of prior service credit (8,844 ) (9,251 ) Amortization of net loss 358 3,432 Net other postretirement benefit cost (income) ($1,398 ) $3,271 Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $14,025 $20,346 Interest cost on accumulated postretirement benefit obligation (APBO) 35,925 38,043 Expected return on assets (28,686 ) (31,119 ) Amortization of prior service credit (26,532 ) (27,753 ) Amortization of net loss 1,074 10,296 Net other postretirement benefit cost (income) ($4,194 ) $9,813 The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,375 ($50 ) $5,325 Amortization of net gain (loss) (20,686 ) 308 (541 ) (20,919 ) Settlement loss (16,257 ) — (373 ) (16,630 ) ($36,943 ) $5,683 ($964 ) ($32,224 ) Entergy Louisiana Amortization of prior service credit $— $1,837 $— $1,837 Amortization of net gain (loss) (699 ) 174 (1 ) (526 ) ($699 ) $2,011 ($1 ) $1,311 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($99 ) $5,595 ($71 ) $5,425 Amortization of net loss (21,958 ) (1,932 ) (850 ) (24,740 ) Settlement loss — — (76 ) (76 ) ($22,057 ) $3,663 ($997 ) ($19,391 ) Entergy Louisiana Amortization of prior service credit $— $1,934 $— $1,934 Amortization of net loss (867 ) (388 ) (2 ) (1,257 ) ($867 ) $1,546 ($2 ) $677 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $16,125 ($148 ) $15,977 Amortization of net gain (loss) (58,156 ) 923 (1,655 ) (58,888 ) Settlement loss (17,557 ) — (1,128 ) (18,685 ) ($75,713 ) $17,048 ($2,931 ) ($61,596 ) Entergy Louisiana Amortization of prior service credit $— $5,511 $— $5,511 Amortization of net gain (loss) (2,096 ) 522 (4 ) (1,578 ) ($2,096 ) $6,033 ($4 ) $3,933 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($297 ) $16,786 ($211 ) $16,278 Amortization of net loss (65,870 ) (5,801 ) (2,832 ) (74,503 ) Settlement loss — — (2,098 ) (2,098 ) ($66,167 ) $10,985 ($5,141 ) ($60,323 ) Entergy Louisiana Amortization of prior service credit $— $5,802 $— $5,802 Amortization of net loss (2,601 ) (1,164 ) (5 ) (3,770 ) ($2,601 ) $4,638 ($5 ) $2,032 Employer Contributions Based on current assumptions, Entergy expects to contribute $176.9 million to its qualified pension plans in 2019. As of September 30, 2019 , Entergy had contributed $123.1 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 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Entergy Louisiana [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, 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 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $33,553 $38,752 Interest cost on projected benefit obligation 73,261 66,854 Expected return on assets (103,751 ) (110,535 ) Amortization of prior service cost — 99 Amortization of net loss 60,395 68,526 Settlement charges 16,291 — Net pension costs $79,749 $63,696 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $100,766 $116,256 Interest cost on projected benefit obligation 221,114 200,562 Expected return on assets (311,494 ) (331,605 ) Amortization of prior service cost — 297 Amortization of net loss 177,233 205,578 Settlement charges 17,591 — Net pension costs $205,210 $191,088 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 Non-Qualified Net Pension Cost Entergy recognized $4.6 million and $4.2 million in pension cost for its non-qualified pension plans in the third quarters of 2019 and 2018 , respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2019 and 2018 were settlement charges of $955 thousand and $212 thousand , respectively, related to the payment of lump sum benefits out of the plan. Entergy recognized $16.3 million and $19.7 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2019 and 2018, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2019 and 2018 were settlement charges of $4.6 million and $7 million , respectively, 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 for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the third quarters of 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $4,675 $6,782 Interest cost on accumulated postretirement benefit obligation (APBO) 11,975 12,681 Expected return on assets (9,562 ) (10,373 ) Amortization of prior service credit (8,844 ) (9,251 ) Amortization of net loss 358 3,432 Net other postretirement benefit cost (income) ($1,398 ) $3,271 Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $14,025 $20,346 Interest cost on accumulated postretirement benefit obligation (APBO) 35,925 38,043 Expected return on assets (28,686 ) (31,119 ) Amortization of prior service credit (26,532 ) (27,753 ) Amortization of net loss 1,074 10,296 Net other postretirement benefit cost (income) ($4,194 ) $9,813 The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,375 ($50 ) $5,325 Amortization of net gain (loss) (20,686 ) 308 (541 ) (20,919 ) Settlement loss (16,257 ) — (373 ) (16,630 ) ($36,943 ) $5,683 ($964 ) ($32,224 ) Entergy Louisiana Amortization of prior service credit $— $1,837 $— $1,837 Amortization of net gain (loss) (699 ) 174 (1 ) (526 ) ($699 ) $2,011 ($1 ) $1,311 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($99 ) $5,595 ($71 ) $5,425 Amortization of net loss (21,958 ) (1,932 ) (850 ) (24,740 ) Settlement loss — — (76 ) (76 ) ($22,057 ) $3,663 ($997 ) ($19,391 ) Entergy Louisiana Amortization of prior service credit $— $1,934 $— $1,934 Amortization of net loss (867 ) (388 ) (2 ) (1,257 ) ($867 ) $1,546 ($2 ) $677 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $16,125 ($148 ) $15,977 Amortization of net gain (loss) (58,156 ) 923 (1,655 ) (58,888 ) Settlement loss (17,557 ) — (1,128 ) (18,685 ) ($75,713 ) $17,048 ($2,931 ) ($61,596 ) Entergy Louisiana Amortization of prior service credit $— $5,511 $— $5,511 Amortization of net gain (loss) (2,096 ) 522 (4 ) (1,578 ) ($2,096 ) $6,033 ($4 ) $3,933 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($297 ) $16,786 ($211 ) $16,278 Amortization of net loss (65,870 ) (5,801 ) (2,832 ) (74,503 ) Settlement loss — — (2,098 ) (2,098 ) ($66,167 ) $10,985 ($5,141 ) ($60,323 ) Entergy Louisiana Amortization of prior service credit $— $5,802 $— $5,802 Amortization of net loss (2,601 ) (1,164 ) (5 ) (3,770 ) ($2,601 ) $4,638 ($5 ) $2,032 Employer Contributions Based on current assumptions, Entergy expects to contribute $176.9 million to its qualified pension plans in 2019. As of September 30, 2019 , Entergy had contributed $123.1 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 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Entergy Mississippi [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, 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 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $33,553 $38,752 Interest cost on projected benefit obligation 73,261 66,854 Expected return on assets (103,751 ) (110,535 ) Amortization of prior service cost — 99 Amortization of net loss 60,395 68,526 Settlement charges 16,291 — Net pension costs $79,749 $63,696 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $100,766 $116,256 Interest cost on projected benefit obligation 221,114 200,562 Expected return on assets (311,494 ) (331,605 ) Amortization of prior service cost — 297 Amortization of net loss 177,233 205,578 Settlement charges 17,591 — Net pension costs $205,210 $191,088 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 Non-Qualified Net Pension Cost Entergy recognized $4.6 million and $4.2 million in pension cost for its non-qualified pension plans in the third quarters of 2019 and 2018 , respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2019 and 2018 were settlement charges of $955 thousand and $212 thousand , respectively, related to the payment of lump sum benefits out of the plan. Entergy recognized $16.3 million and $19.7 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2019 and 2018, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2019 and 2018 were settlement charges of $4.6 million and $7 million , respectively, 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 for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the third quarters of 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $4,675 $6,782 Interest cost on accumulated postretirement benefit obligation (APBO) 11,975 12,681 Expected return on assets (9,562 ) (10,373 ) Amortization of prior service credit (8,844 ) (9,251 ) Amortization of net loss 358 3,432 Net other postretirement benefit cost (income) ($1,398 ) $3,271 Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $14,025 $20,346 Interest cost on accumulated postretirement benefit obligation (APBO) 35,925 38,043 Expected return on assets (28,686 ) (31,119 ) Amortization of prior service credit (26,532 ) (27,753 ) Amortization of net loss 1,074 10,296 Net other postretirement benefit cost (income) ($4,194 ) $9,813 The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,375 ($50 ) $5,325 Amortization of net gain (loss) (20,686 ) 308 (541 ) (20,919 ) Settlement loss (16,257 ) — (373 ) (16,630 ) ($36,943 ) $5,683 ($964 ) ($32,224 ) Entergy Louisiana Amortization of prior service credit $— $1,837 $— $1,837 Amortization of net gain (loss) (699 ) 174 (1 ) (526 ) ($699 ) $2,011 ($1 ) $1,311 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($99 ) $5,595 ($71 ) $5,425 Amortization of net loss (21,958 ) (1,932 ) (850 ) (24,740 ) Settlement loss — — (76 ) (76 ) ($22,057 ) $3,663 ($997 ) ($19,391 ) Entergy Louisiana Amortization of prior service credit $— $1,934 $— $1,934 Amortization of net loss (867 ) (388 ) (2 ) (1,257 ) ($867 ) $1,546 ($2 ) $677 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $16,125 ($148 ) $15,977 Amortization of net gain (loss) (58,156 ) 923 (1,655 ) (58,888 ) Settlement loss (17,557 ) — (1,128 ) (18,685 ) ($75,713 ) $17,048 ($2,931 ) ($61,596 ) Entergy Louisiana Amortization of prior service credit $— $5,511 $— $5,511 Amortization of net gain (loss) (2,096 ) 522 (4 ) (1,578 ) ($2,096 ) $6,033 ($4 ) $3,933 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($297 ) $16,786 ($211 ) $16,278 Amortization of net loss (65,870 ) (5,801 ) (2,832 ) (74,503 ) Settlement loss — — (2,098 ) (2,098 ) ($66,167 ) $10,985 ($5,141 ) ($60,323 ) Entergy Louisiana Amortization of prior service credit $— $5,802 $— $5,802 Amortization of net loss (2,601 ) (1,164 ) (5 ) (3,770 ) ($2,601 ) $4,638 ($5 ) $2,032 Employer Contributions Based on current assumptions, Entergy expects to contribute $176.9 million to its qualified pension plans in 2019. As of September 30, 2019 , Entergy had contributed $123.1 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 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Entergy New Orleans [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, 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 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $33,553 $38,752 Interest cost on projected benefit obligation 73,261 66,854 Expected return on assets (103,751 ) (110,535 ) Amortization of prior service cost — 99 Amortization of net loss 60,395 68,526 Settlement charges 16,291 — Net pension costs $79,749 $63,696 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $100,766 $116,256 Interest cost on projected benefit obligation 221,114 200,562 Expected return on assets (311,494 ) (331,605 ) Amortization of prior service cost — 297 Amortization of net loss 177,233 205,578 Settlement charges 17,591 — Net pension costs $205,210 $191,088 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 Non-Qualified Net Pension Cost Entergy recognized $4.6 million and $4.2 million in pension cost for its non-qualified pension plans in the third quarters of 2019 and 2018 , respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2019 and 2018 were settlement charges of $955 thousand and $212 thousand , respectively, related to the payment of lump sum benefits out of the plan. Entergy recognized $16.3 million and $19.7 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2019 and 2018, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2019 and 2018 were settlement charges of $4.6 million and $7 million , respectively, 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 for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the third quarters of 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $4,675 $6,782 Interest cost on accumulated postretirement benefit obligation (APBO) 11,975 12,681 Expected return on assets (9,562 ) (10,373 ) Amortization of prior service credit (8,844 ) (9,251 ) Amortization of net loss 358 3,432 Net other postretirement benefit cost (income) ($1,398 ) $3,271 Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $14,025 $20,346 Interest cost on accumulated postretirement benefit obligation (APBO) 35,925 38,043 Expected return on assets (28,686 ) (31,119 ) Amortization of prior service credit (26,532 ) (27,753 ) Amortization of net loss 1,074 10,296 Net other postretirement benefit cost (income) ($4,194 ) $9,813 The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,375 ($50 ) $5,325 Amortization of net gain (loss) (20,686 ) 308 (541 ) (20,919 ) Settlement loss (16,257 ) — (373 ) (16,630 ) ($36,943 ) $5,683 ($964 ) ($32,224 ) Entergy Louisiana Amortization of prior service credit $— $1,837 $— $1,837 Amortization of net gain (loss) (699 ) 174 (1 ) (526 ) ($699 ) $2,011 ($1 ) $1,311 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($99 ) $5,595 ($71 ) $5,425 Amortization of net loss (21,958 ) (1,932 ) (850 ) (24,740 ) Settlement loss — — (76 ) (76 ) ($22,057 ) $3,663 ($997 ) ($19,391 ) Entergy Louisiana Amortization of prior service credit $— $1,934 $— $1,934 Amortization of net loss (867 ) (388 ) (2 ) (1,257 ) ($867 ) $1,546 ($2 ) $677 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $16,125 ($148 ) $15,977 Amortization of net gain (loss) (58,156 ) 923 (1,655 ) (58,888 ) Settlement loss (17,557 ) — (1,128 ) (18,685 ) ($75,713 ) $17,048 ($2,931 ) ($61,596 ) Entergy Louisiana Amortization of prior service credit $— $5,511 $— $5,511 Amortization of net gain (loss) (2,096 ) 522 (4 ) (1,578 ) ($2,096 ) $6,033 ($4 ) $3,933 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($297 ) $16,786 ($211 ) $16,278 Amortization of net loss (65,870 ) (5,801 ) (2,832 ) (74,503 ) Settlement loss — — (2,098 ) (2,098 ) ($66,167 ) $10,985 ($5,141 ) ($60,323 ) Entergy Louisiana Amortization of prior service credit $— $5,802 $— $5,802 Amortization of net loss (2,601 ) (1,164 ) (5 ) (3,770 ) ($2,601 ) $4,638 ($5 ) $2,032 Employer Contributions Based on current assumptions, Entergy expects to contribute $176.9 million to its qualified pension plans in 2019. As of September 30, 2019 , Entergy had contributed $123.1 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 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Entergy Texas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, 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 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $33,553 $38,752 Interest cost on projected benefit obligation 73,261 66,854 Expected return on assets (103,751 ) (110,535 ) Amortization of prior service cost — 99 Amortization of net loss 60,395 68,526 Settlement charges 16,291 — Net pension costs $79,749 $63,696 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $100,766 $116,256 Interest cost on projected benefit obligation 221,114 200,562 Expected return on assets (311,494 ) (331,605 ) Amortization of prior service cost — 297 Amortization of net loss 177,233 205,578 Settlement charges 17,591 — Net pension costs $205,210 $191,088 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 Non-Qualified Net Pension Cost Entergy recognized $4.6 million and $4.2 million in pension cost for its non-qualified pension plans in the third quarters of 2019 and 2018 , respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2019 and 2018 were settlement charges of $955 thousand and $212 thousand , respectively, related to the payment of lump sum benefits out of the plan. Entergy recognized $16.3 million and $19.7 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2019 and 2018, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2019 and 2018 were settlement charges of $4.6 million and $7 million , respectively, 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 for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the third quarters of 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $4,675 $6,782 Interest cost on accumulated postretirement benefit obligation (APBO) 11,975 12,681 Expected return on assets (9,562 ) (10,373 ) Amortization of prior service credit (8,844 ) (9,251 ) Amortization of net loss 358 3,432 Net other postretirement benefit cost (income) ($1,398 ) $3,271 Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $14,025 $20,346 Interest cost on accumulated postretirement benefit obligation (APBO) 35,925 38,043 Expected return on assets (28,686 ) (31,119 ) Amortization of prior service credit (26,532 ) (27,753 ) Amortization of net loss 1,074 10,296 Net other postretirement benefit cost (income) ($4,194 ) $9,813 The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,375 ($50 ) $5,325 Amortization of net gain (loss) (20,686 ) 308 (541 ) (20,919 ) Settlement loss (16,257 ) — (373 ) (16,630 ) ($36,943 ) $5,683 ($964 ) ($32,224 ) Entergy Louisiana Amortization of prior service credit $— $1,837 $— $1,837 Amortization of net gain (loss) (699 ) 174 (1 ) (526 ) ($699 ) $2,011 ($1 ) $1,311 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($99 ) $5,595 ($71 ) $5,425 Amortization of net loss (21,958 ) (1,932 ) (850 ) (24,740 ) Settlement loss — — (76 ) (76 ) ($22,057 ) $3,663 ($997 ) ($19,391 ) Entergy Louisiana Amortization of prior service credit $— $1,934 $— $1,934 Amortization of net loss (867 ) (388 ) (2 ) (1,257 ) ($867 ) $1,546 ($2 ) $677 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $16,125 ($148 ) $15,977 Amortization of net gain (loss) (58,156 ) 923 (1,655 ) (58,888 ) Settlement loss (17,557 ) — (1,128 ) (18,685 ) ($75,713 ) $17,048 ($2,931 ) ($61,596 ) Entergy Louisiana Amortization of prior service credit $— $5,511 $— $5,511 Amortization of net gain (loss) (2,096 ) 522 (4 ) (1,578 ) ($2,096 ) $6,033 ($4 ) $3,933 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($297 ) $16,786 ($211 ) $16,278 Amortization of net loss (65,870 ) (5,801 ) (2,832 ) (74,503 ) Settlement loss — — (2,098 ) (2,098 ) ($66,167 ) $10,985 ($5,141 ) ($60,323 ) Entergy Louisiana Amortization of prior service credit $— $5,802 $— $5,802 Amortization of net loss (2,601 ) (1,164 ) (5 ) (3,770 ) ($2,601 ) $4,638 ($5 ) $2,032 Employer Contributions Based on current assumptions, Entergy expects to contribute $176.9 million to its qualified pension plans in 2019. As of September 30, 2019 , Entergy had contributed $123.1 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 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
System Energy [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, 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 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $33,553 $38,752 Interest cost on projected benefit obligation 73,261 66,854 Expected return on assets (103,751 ) (110,535 ) Amortization of prior service cost — 99 Amortization of net loss 60,395 68,526 Settlement charges 16,291 — Net pension costs $79,749 $63,696 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $100,766 $116,256 Interest cost on projected benefit obligation 221,114 200,562 Expected return on assets (311,494 ) (331,605 ) Amortization of prior service cost — 297 Amortization of net loss 177,233 205,578 Settlement charges 17,591 — Net pension costs $205,210 $191,088 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 Non-Qualified Net Pension Cost Entergy recognized $4.6 million and $4.2 million in pension cost for its non-qualified pension plans in the third quarters of 2019 and 2018 , respectively. Reflected in the pension cost for non-qualified pension plans in the third quarters of 2019 and 2018 were settlement charges of $955 thousand and $212 thousand , respectively, related to the payment of lump sum benefits out of the plan. Entergy recognized $16.3 million and $19.7 million in pension cost for its non-qualified pension plans for the nine months ended September 30, 2019 and 2018, respectively. Reflected in the pension cost for non-qualified pension plans for the nine months ended September 30, 2019 and 2018 were settlement charges of $4.6 million and $7 million , respectively, 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 for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. Components of Net Other Postretirement Benefit Cost (Income) Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the third quarters of 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $4,675 $6,782 Interest cost on accumulated postretirement benefit obligation (APBO) 11,975 12,681 Expected return on assets (9,562 ) (10,373 ) Amortization of prior service credit (8,844 ) (9,251 ) Amortization of net loss 358 3,432 Net other postretirement benefit cost (income) ($1,398 ) $3,271 Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $14,025 $20,346 Interest cost on accumulated postretirement benefit obligation (APBO) 35,925 38,043 Expected return on assets (28,686 ) (31,119 ) Amortization of prior service credit (26,532 ) (27,753 ) Amortization of net loss 1,074 10,296 Net other postretirement benefit cost (income) ($4,194 ) $9,813 The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,375 ($50 ) $5,325 Amortization of net gain (loss) (20,686 ) 308 (541 ) (20,919 ) Settlement loss (16,257 ) — (373 ) (16,630 ) ($36,943 ) $5,683 ($964 ) ($32,224 ) Entergy Louisiana Amortization of prior service credit $— $1,837 $— $1,837 Amortization of net gain (loss) (699 ) 174 (1 ) (526 ) ($699 ) $2,011 ($1 ) $1,311 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($99 ) $5,595 ($71 ) $5,425 Amortization of net loss (21,958 ) (1,932 ) (850 ) (24,740 ) Settlement loss — — (76 ) (76 ) ($22,057 ) $3,663 ($997 ) ($19,391 ) Entergy Louisiana Amortization of prior service credit $— $1,934 $— $1,934 Amortization of net loss (867 ) (388 ) (2 ) (1,257 ) ($867 ) $1,546 ($2 ) $677 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $16,125 ($148 ) $15,977 Amortization of net gain (loss) (58,156 ) 923 (1,655 ) (58,888 ) Settlement loss (17,557 ) — (1,128 ) (18,685 ) ($75,713 ) $17,048 ($2,931 ) ($61,596 ) Entergy Louisiana Amortization of prior service credit $— $5,511 $— $5,511 Amortization of net gain (loss) (2,096 ) 522 (4 ) (1,578 ) ($2,096 ) $6,033 ($4 ) $3,933 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($297 ) $16,786 ($211 ) $16,278 Amortization of net loss (65,870 ) (5,801 ) (2,832 ) (74,503 ) Settlement loss — — (2,098 ) (2,098 ) ($66,167 ) $10,985 ($5,141 ) ($60,323 ) Entergy Louisiana Amortization of prior service credit $— $5,802 $— $5,802 Amortization of net loss (2,601 ) (1,164 ) (5 ) (3,770 ) ($2,601 ) $4,638 ($5 ) $2,032 Employer Contributions Based on current assumptions, Entergy expects to contribute $176.9 million to its qualified pension plans in 2019. As of September 30, 2019 , Entergy had contributed $123.1 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 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Business Segment Information
Business Segment Information | 9 Months Ended |
Sep. 30, 2019 | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation Entergy’s reportable segments as of September 30, 2019 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information for the third quarters of 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $2,840,222 $300,363 $9 ($19 ) $3,140,575 Income taxes $71,698 ($30,855 ) ($11,642 ) $— $29,201 Consolidated net income (loss) $581,964 ($140,501 ) ($40,105 ) ($31,899 ) $369,459 2018 Operating revenues $2,724,279 $380,080 $— ($40 ) $3,104,319 Income taxes ($137,035 ) ($135,659 ) ($10,312 ) $— ($283,006 ) Consolidated net income (loss) $507,745 $105,571 ($41,601 ) ($31,897 ) $539,818 Entergy’s segment financial information for the nine months ended September 30, 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $7,392,641 $1,023,757 $11 ($42 ) $8,416,367 Income taxes $81,283 $25,763 ($33,616 ) $— $73,430 Consolidated net income (loss) $1,150,863 ($68,804 ) ($117,725 ) ($95,695 ) $868,639 Total assets as of September 30, 2019 $48,348,371 $4,122,007 $501,983 ($2,466,093 ) $50,506,268 2018 Operating revenues $7,389,477 $1,107,606 $— ($113 ) $8,496,970 Income taxes ($325,134 ) ($166,882 ) ($27,921 ) $— ($519,937 ) Consolidated net income (loss) $1,104,078 $31,456 ($114,962 ) ($95,695 ) $924,877 Total assets as of December 31, 2018 $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 The Entergy Wholesale Commodities business is sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy management has undertaken a strategy to manage and reduce the risk of the Entergy Wholesale Commodities business, which includes taking actions to shut down and sell all of the remaining plants in the merchant nuclear fleet. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. Total restructuring charges for the third quarters of 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of July 1, $181 $14 $195 $143 $14 $157 Restructuring costs accrued 14 — 14 43 — 43 Cash paid out 86 — 86 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $8 million in the third quarter 2019 and $155 million in the third quarter 2018 of impairment and other related charges associated with these strategic decisions and transactions. Total restructuring charges for the nine months ended September 30, 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of January 1, $179 $14 $193 $83 $14 $97 Restructuring costs accrued 70 — 70 103 — 103 Cash paid out 140 — 140 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $98 million in the nine months ended September 30, 2019 and $297 million in the nine months ended September 30, 2018 of impairment and other related charges associated with these strategic decisions and transactions. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses associated with management’s strategy to exit the merchant power business of approximately $100 million in 2019, of which $70 million has been incurred as of September 30, 2019, and a total of approximately $135 million from 2020 through 2022. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Arkansas [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation Entergy’s reportable segments as of September 30, 2019 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information for the third quarters of 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $2,840,222 $300,363 $9 ($19 ) $3,140,575 Income taxes $71,698 ($30,855 ) ($11,642 ) $— $29,201 Consolidated net income (loss) $581,964 ($140,501 ) ($40,105 ) ($31,899 ) $369,459 2018 Operating revenues $2,724,279 $380,080 $— ($40 ) $3,104,319 Income taxes ($137,035 ) ($135,659 ) ($10,312 ) $— ($283,006 ) Consolidated net income (loss) $507,745 $105,571 ($41,601 ) ($31,897 ) $539,818 Entergy’s segment financial information for the nine months ended September 30, 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $7,392,641 $1,023,757 $11 ($42 ) $8,416,367 Income taxes $81,283 $25,763 ($33,616 ) $— $73,430 Consolidated net income (loss) $1,150,863 ($68,804 ) ($117,725 ) ($95,695 ) $868,639 Total assets as of September 30, 2019 $48,348,371 $4,122,007 $501,983 ($2,466,093 ) $50,506,268 2018 Operating revenues $7,389,477 $1,107,606 $— ($113 ) $8,496,970 Income taxes ($325,134 ) ($166,882 ) ($27,921 ) $— ($519,937 ) Consolidated net income (loss) $1,104,078 $31,456 ($114,962 ) ($95,695 ) $924,877 Total assets as of December 31, 2018 $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 The Entergy Wholesale Commodities business is sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy management has undertaken a strategy to manage and reduce the risk of the Entergy Wholesale Commodities business, which includes taking actions to shut down and sell all of the remaining plants in the merchant nuclear fleet. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. Total restructuring charges for the third quarters of 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of July 1, $181 $14 $195 $143 $14 $157 Restructuring costs accrued 14 — 14 43 — 43 Cash paid out 86 — 86 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $8 million in the third quarter 2019 and $155 million in the third quarter 2018 of impairment and other related charges associated with these strategic decisions and transactions. Total restructuring charges for the nine months ended September 30, 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of January 1, $179 $14 $193 $83 $14 $97 Restructuring costs accrued 70 — 70 103 — 103 Cash paid out 140 — 140 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $98 million in the nine months ended September 30, 2019 and $297 million in the nine months ended September 30, 2018 of impairment and other related charges associated with these strategic decisions and transactions. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses associated with management’s strategy to exit the merchant power business of approximately $100 million in 2019, of which $70 million has been incurred as of September 30, 2019, and a total of approximately $135 million from 2020 through 2022. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Louisiana [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation Entergy’s reportable segments as of September 30, 2019 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information for the third quarters of 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $2,840,222 $300,363 $9 ($19 ) $3,140,575 Income taxes $71,698 ($30,855 ) ($11,642 ) $— $29,201 Consolidated net income (loss) $581,964 ($140,501 ) ($40,105 ) ($31,899 ) $369,459 2018 Operating revenues $2,724,279 $380,080 $— ($40 ) $3,104,319 Income taxes ($137,035 ) ($135,659 ) ($10,312 ) $— ($283,006 ) Consolidated net income (loss) $507,745 $105,571 ($41,601 ) ($31,897 ) $539,818 Entergy’s segment financial information for the nine months ended September 30, 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $7,392,641 $1,023,757 $11 ($42 ) $8,416,367 Income taxes $81,283 $25,763 ($33,616 ) $— $73,430 Consolidated net income (loss) $1,150,863 ($68,804 ) ($117,725 ) ($95,695 ) $868,639 Total assets as of September 30, 2019 $48,348,371 $4,122,007 $501,983 ($2,466,093 ) $50,506,268 2018 Operating revenues $7,389,477 $1,107,606 $— ($113 ) $8,496,970 Income taxes ($325,134 ) ($166,882 ) ($27,921 ) $— ($519,937 ) Consolidated net income (loss) $1,104,078 $31,456 ($114,962 ) ($95,695 ) $924,877 Total assets as of December 31, 2018 $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 The Entergy Wholesale Commodities business is sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy management has undertaken a strategy to manage and reduce the risk of the Entergy Wholesale Commodities business, which includes taking actions to shut down and sell all of the remaining plants in the merchant nuclear fleet. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. Total restructuring charges for the third quarters of 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of July 1, $181 $14 $195 $143 $14 $157 Restructuring costs accrued 14 — 14 43 — 43 Cash paid out 86 — 86 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $8 million in the third quarter 2019 and $155 million in the third quarter 2018 of impairment and other related charges associated with these strategic decisions and transactions. Total restructuring charges for the nine months ended September 30, 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of January 1, $179 $14 $193 $83 $14 $97 Restructuring costs accrued 70 — 70 103 — 103 Cash paid out 140 — 140 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $98 million in the nine months ended September 30, 2019 and $297 million in the nine months ended September 30, 2018 of impairment and other related charges associated with these strategic decisions and transactions. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses associated with management’s strategy to exit the merchant power business of approximately $100 million in 2019, of which $70 million has been incurred as of September 30, 2019, and a total of approximately $135 million from 2020 through 2022. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Mississippi [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation Entergy’s reportable segments as of September 30, 2019 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information for the third quarters of 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $2,840,222 $300,363 $9 ($19 ) $3,140,575 Income taxes $71,698 ($30,855 ) ($11,642 ) $— $29,201 Consolidated net income (loss) $581,964 ($140,501 ) ($40,105 ) ($31,899 ) $369,459 2018 Operating revenues $2,724,279 $380,080 $— ($40 ) $3,104,319 Income taxes ($137,035 ) ($135,659 ) ($10,312 ) $— ($283,006 ) Consolidated net income (loss) $507,745 $105,571 ($41,601 ) ($31,897 ) $539,818 Entergy’s segment financial information for the nine months ended September 30, 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $7,392,641 $1,023,757 $11 ($42 ) $8,416,367 Income taxes $81,283 $25,763 ($33,616 ) $— $73,430 Consolidated net income (loss) $1,150,863 ($68,804 ) ($117,725 ) ($95,695 ) $868,639 Total assets as of September 30, 2019 $48,348,371 $4,122,007 $501,983 ($2,466,093 ) $50,506,268 2018 Operating revenues $7,389,477 $1,107,606 $— ($113 ) $8,496,970 Income taxes ($325,134 ) ($166,882 ) ($27,921 ) $— ($519,937 ) Consolidated net income (loss) $1,104,078 $31,456 ($114,962 ) ($95,695 ) $924,877 Total assets as of December 31, 2018 $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 The Entergy Wholesale Commodities business is sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy management has undertaken a strategy to manage and reduce the risk of the Entergy Wholesale Commodities business, which includes taking actions to shut down and sell all of the remaining plants in the merchant nuclear fleet. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. Total restructuring charges for the third quarters of 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of July 1, $181 $14 $195 $143 $14 $157 Restructuring costs accrued 14 — 14 43 — 43 Cash paid out 86 — 86 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $8 million in the third quarter 2019 and $155 million in the third quarter 2018 of impairment and other related charges associated with these strategic decisions and transactions. Total restructuring charges for the nine months ended September 30, 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of January 1, $179 $14 $193 $83 $14 $97 Restructuring costs accrued 70 — 70 103 — 103 Cash paid out 140 — 140 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $98 million in the nine months ended September 30, 2019 and $297 million in the nine months ended September 30, 2018 of impairment and other related charges associated with these strategic decisions and transactions. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses associated with management’s strategy to exit the merchant power business of approximately $100 million in 2019, of which $70 million has been incurred as of September 30, 2019, and a total of approximately $135 million from 2020 through 2022. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy New Orleans [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation Entergy’s reportable segments as of September 30, 2019 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information for the third quarters of 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $2,840,222 $300,363 $9 ($19 ) $3,140,575 Income taxes $71,698 ($30,855 ) ($11,642 ) $— $29,201 Consolidated net income (loss) $581,964 ($140,501 ) ($40,105 ) ($31,899 ) $369,459 2018 Operating revenues $2,724,279 $380,080 $— ($40 ) $3,104,319 Income taxes ($137,035 ) ($135,659 ) ($10,312 ) $— ($283,006 ) Consolidated net income (loss) $507,745 $105,571 ($41,601 ) ($31,897 ) $539,818 Entergy’s segment financial information for the nine months ended September 30, 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $7,392,641 $1,023,757 $11 ($42 ) $8,416,367 Income taxes $81,283 $25,763 ($33,616 ) $— $73,430 Consolidated net income (loss) $1,150,863 ($68,804 ) ($117,725 ) ($95,695 ) $868,639 Total assets as of September 30, 2019 $48,348,371 $4,122,007 $501,983 ($2,466,093 ) $50,506,268 2018 Operating revenues $7,389,477 $1,107,606 $— ($113 ) $8,496,970 Income taxes ($325,134 ) ($166,882 ) ($27,921 ) $— ($519,937 ) Consolidated net income (loss) $1,104,078 $31,456 ($114,962 ) ($95,695 ) $924,877 Total assets as of December 31, 2018 $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 The Entergy Wholesale Commodities business is sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy management has undertaken a strategy to manage and reduce the risk of the Entergy Wholesale Commodities business, which includes taking actions to shut down and sell all of the remaining plants in the merchant nuclear fleet. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. Total restructuring charges for the third quarters of 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of July 1, $181 $14 $195 $143 $14 $157 Restructuring costs accrued 14 — 14 43 — 43 Cash paid out 86 — 86 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $8 million in the third quarter 2019 and $155 million in the third quarter 2018 of impairment and other related charges associated with these strategic decisions and transactions. Total restructuring charges for the nine months ended September 30, 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of January 1, $179 $14 $193 $83 $14 $97 Restructuring costs accrued 70 — 70 103 — 103 Cash paid out 140 — 140 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $98 million in the nine months ended September 30, 2019 and $297 million in the nine months ended September 30, 2018 of impairment and other related charges associated with these strategic decisions and transactions. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses associated with management’s strategy to exit the merchant power business of approximately $100 million in 2019, of which $70 million has been incurred as of September 30, 2019, and a total of approximately $135 million from 2020 through 2022. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Texas [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation Entergy’s reportable segments as of September 30, 2019 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information for the third quarters of 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $2,840,222 $300,363 $9 ($19 ) $3,140,575 Income taxes $71,698 ($30,855 ) ($11,642 ) $— $29,201 Consolidated net income (loss) $581,964 ($140,501 ) ($40,105 ) ($31,899 ) $369,459 2018 Operating revenues $2,724,279 $380,080 $— ($40 ) $3,104,319 Income taxes ($137,035 ) ($135,659 ) ($10,312 ) $— ($283,006 ) Consolidated net income (loss) $507,745 $105,571 ($41,601 ) ($31,897 ) $539,818 Entergy’s segment financial information for the nine months ended September 30, 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $7,392,641 $1,023,757 $11 ($42 ) $8,416,367 Income taxes $81,283 $25,763 ($33,616 ) $— $73,430 Consolidated net income (loss) $1,150,863 ($68,804 ) ($117,725 ) ($95,695 ) $868,639 Total assets as of September 30, 2019 $48,348,371 $4,122,007 $501,983 ($2,466,093 ) $50,506,268 2018 Operating revenues $7,389,477 $1,107,606 $— ($113 ) $8,496,970 Income taxes ($325,134 ) ($166,882 ) ($27,921 ) $— ($519,937 ) Consolidated net income (loss) $1,104,078 $31,456 ($114,962 ) ($95,695 ) $924,877 Total assets as of December 31, 2018 $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 The Entergy Wholesale Commodities business is sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy management has undertaken a strategy to manage and reduce the risk of the Entergy Wholesale Commodities business, which includes taking actions to shut down and sell all of the remaining plants in the merchant nuclear fleet. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. Total restructuring charges for the third quarters of 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of July 1, $181 $14 $195 $143 $14 $157 Restructuring costs accrued 14 — 14 43 — 43 Cash paid out 86 — 86 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $8 million in the third quarter 2019 and $155 million in the third quarter 2018 of impairment and other related charges associated with these strategic decisions and transactions. Total restructuring charges for the nine months ended September 30, 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of January 1, $179 $14 $193 $83 $14 $97 Restructuring costs accrued 70 — 70 103 — 103 Cash paid out 140 — 140 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $98 million in the nine months ended September 30, 2019 and $297 million in the nine months ended September 30, 2018 of impairment and other related charges associated with these strategic decisions and transactions. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses associated with management’s strategy to exit the merchant power business of approximately $100 million in 2019, of which $70 million has been incurred as of September 30, 2019, and a total of approximately $135 million from 2020 through 2022. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
System Energy [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation Entergy’s reportable segments as of September 30, 2019 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information for the third quarters of 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $2,840,222 $300,363 $9 ($19 ) $3,140,575 Income taxes $71,698 ($30,855 ) ($11,642 ) $— $29,201 Consolidated net income (loss) $581,964 ($140,501 ) ($40,105 ) ($31,899 ) $369,459 2018 Operating revenues $2,724,279 $380,080 $— ($40 ) $3,104,319 Income taxes ($137,035 ) ($135,659 ) ($10,312 ) $— ($283,006 ) Consolidated net income (loss) $507,745 $105,571 ($41,601 ) ($31,897 ) $539,818 Entergy’s segment financial information for the nine months ended September 30, 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $7,392,641 $1,023,757 $11 ($42 ) $8,416,367 Income taxes $81,283 $25,763 ($33,616 ) $— $73,430 Consolidated net income (loss) $1,150,863 ($68,804 ) ($117,725 ) ($95,695 ) $868,639 Total assets as of September 30, 2019 $48,348,371 $4,122,007 $501,983 ($2,466,093 ) $50,506,268 2018 Operating revenues $7,389,477 $1,107,606 $— ($113 ) $8,496,970 Income taxes ($325,134 ) ($166,882 ) ($27,921 ) $— ($519,937 ) Consolidated net income (loss) $1,104,078 $31,456 ($114,962 ) ($95,695 ) $924,877 Total assets as of December 31, 2018 $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 The Entergy Wholesale Commodities business is sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. As discussed in Note 13 to the financial statements in the Form 10-K, Entergy management has undertaken a strategy to manage and reduce the risk of the Entergy Wholesale Commodities business, which includes taking actions to shut down and sell all of the remaining plants in the merchant nuclear fleet. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. Total restructuring charges for the third quarters of 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of July 1, $181 $14 $195 $143 $14 $157 Restructuring costs accrued 14 — 14 43 — 43 Cash paid out 86 — 86 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $8 million in the third quarter 2019 and $155 million in the third quarter 2018 of impairment and other related charges associated with these strategic decisions and transactions. Total restructuring charges for the nine months ended September 30, 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of January 1, $179 $14 $193 $83 $14 $97 Restructuring costs accrued 70 — 70 103 — 103 Cash paid out 140 — 140 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $98 million in the nine months ended September 30, 2019 and $297 million in the nine months ended September 30, 2018 of impairment and other related charges associated with these strategic decisions and transactions. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses associated with management’s strategy to exit the merchant power business of approximately $100 million in 2019, of which $70 million has been incurred as of September 30, 2019, and a total of approximately $135 million from 2020 through 2022. 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 Values
Risk Management And Fair Values | 9 Months Ended |
Sep. 30, 2019 | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2019 is approximately 1.5 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for the remainder of 2019 , of which approximately 72% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2019 is 6.1 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guarantee, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $13 million in cash collateral were required to be posted by the Entergy subsidiary to its counterparties and $2 million in cash and $48 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2019 is 4.5 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of September 30, 2019 is 6 months each for Entergy Mississippi and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2019 is 40,346,000 MMBtu for Entergy, including 32,880,000 MMBtu for Entergy Louisiana, 6,210,000 MMBtu for Entergy Mississippi, and 1,256,000 for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2019 is 79,459 GWh for Entergy, including 17,898 GWh for Entergy Arkansas, 36,474 GWh for Entergy Louisiana, 10,087 GWh for Entergy Mississippi, 3,751 GWh for Entergy New Orleans, and 10,931 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of September 30, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of September 30, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 2019 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $35 ($5) $30 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $14 ($2) $12 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $5 ($5) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($3) $6 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $17 ($1) $16 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $4 ($4) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $4 $— $4 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 Utility (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $2 million held and $13 million posted as of September 30, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $48 million held as of September 30, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in other comprehensive income Income Statement location Amount of gain reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2019 Electricity swaps and options ($7) Competitive businesses operating revenues $19 2018 Electricity swaps and options ($51) Competitive businesses operating revenues ($11) (a) Before taxes of $4 million and ($2) million for the three months ended September 30, 2019 and 2018, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain recognized in other Income Statement location Amount of gain (loss) (In Millions) (In Millions) 2019 Electricity swaps and options $145 Competitive businesses operating revenues $76 2018 Electricity swaps and options ($40) Competitive businesses operating revenues ($38) (a) Before taxes of $16 million and ($8) million for the nine months ended September 30, 2019 and 2018, respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2018 was ($3.1) million . The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2018 was ($5.2) million . Based on market prices as of September 30, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $42 million of net unrealized losses. Approximately $30 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($2) Financial transmission rights $— Purchased power expense (b) $25 Electricity swaps and options $— (c) Competitive business operating revenues $1 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $— Financial transmission rights $— Purchased power expense (b) $31 Electricity swaps and options $— (c) Competitive business operating revenues ($2) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps and options $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($9) Financial transmission rights $— Purchased power expense (b) $78 Electricity swaps and options $— (c) Competitive business operating revenues $4 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $5 Financial transmission rights $— Purchased power expense (b) $104 Electricity swaps and options $— (c) Competitive business operating revenues $— (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electrici |
Entergy Arkansas [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2019 is approximately 1.5 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for the remainder of 2019 , of which approximately 72% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2019 is 6.1 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guarantee, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $13 million in cash collateral were required to be posted by the Entergy subsidiary to its counterparties and $2 million in cash and $48 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2019 is 4.5 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of September 30, 2019 is 6 months each for Entergy Mississippi and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2019 is 40,346,000 MMBtu for Entergy, including 32,880,000 MMBtu for Entergy Louisiana, 6,210,000 MMBtu for Entergy Mississippi, and 1,256,000 for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2019 is 79,459 GWh for Entergy, including 17,898 GWh for Entergy Arkansas, 36,474 GWh for Entergy Louisiana, 10,087 GWh for Entergy Mississippi, 3,751 GWh for Entergy New Orleans, and 10,931 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of September 30, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of September 30, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 2019 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $35 ($5) $30 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $14 ($2) $12 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $5 ($5) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($3) $6 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $17 ($1) $16 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $4 ($4) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $4 $— $4 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 Utility (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $2 million held and $13 million posted as of September 30, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $48 million held as of September 30, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in other comprehensive income Income Statement location Amount of gain reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2019 Electricity swaps and options ($7) Competitive businesses operating revenues $19 2018 Electricity swaps and options ($51) Competitive businesses operating revenues ($11) (a) Before taxes of $4 million and ($2) million for the three months ended September 30, 2019 and 2018, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain recognized in other Income Statement location Amount of gain (loss) (In Millions) (In Millions) 2019 Electricity swaps and options $145 Competitive businesses operating revenues $76 2018 Electricity swaps and options ($40) Competitive businesses operating revenues ($38) (a) Before taxes of $16 million and ($8) million for the nine months ended September 30, 2019 and 2018, respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2018 was ($3.1) million . The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2018 was ($5.2) million . Based on market prices as of September 30, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $42 million of net unrealized losses. Approximately $30 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($2) Financial transmission rights $— Purchased power expense (b) $25 Electricity swaps and options $— (c) Competitive business operating revenues $1 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $— Financial transmission rights $— Purchased power expense (b) $31 Electricity swaps and options $— (c) Competitive business operating revenues ($2) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps and options $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($9) Financial transmission rights $— Purchased power expense (b) $78 Electricity swaps and options $— (c) Competitive business operating revenues $4 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $5 Financial transmission rights $— Purchased power expense (b) $104 Electricity swaps and options $— (c) Competitive business operating revenues $— (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electrici |
Entergy Louisiana [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2019 is approximately 1.5 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for the remainder of 2019 , of which approximately 72% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2019 is 6.1 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guarantee, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $13 million in cash collateral were required to be posted by the Entergy subsidiary to its counterparties and $2 million in cash and $48 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2019 is 4.5 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of September 30, 2019 is 6 months each for Entergy Mississippi and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2019 is 40,346,000 MMBtu for Entergy, including 32,880,000 MMBtu for Entergy Louisiana, 6,210,000 MMBtu for Entergy Mississippi, and 1,256,000 for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2019 is 79,459 GWh for Entergy, including 17,898 GWh for Entergy Arkansas, 36,474 GWh for Entergy Louisiana, 10,087 GWh for Entergy Mississippi, 3,751 GWh for Entergy New Orleans, and 10,931 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of September 30, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of September 30, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 2019 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $35 ($5) $30 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $14 ($2) $12 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $5 ($5) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($3) $6 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $17 ($1) $16 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $4 ($4) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $4 $— $4 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 Utility (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $2 million held and $13 million posted as of September 30, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $48 million held as of September 30, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in other comprehensive income Income Statement location Amount of gain reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2019 Electricity swaps and options ($7) Competitive businesses operating revenues $19 2018 Electricity swaps and options ($51) Competitive businesses operating revenues ($11) (a) Before taxes of $4 million and ($2) million for the three months ended September 30, 2019 and 2018, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain recognized in other Income Statement location Amount of gain (loss) (In Millions) (In Millions) 2019 Electricity swaps and options $145 Competitive businesses operating revenues $76 2018 Electricity swaps and options ($40) Competitive businesses operating revenues ($38) (a) Before taxes of $16 million and ($8) million for the nine months ended September 30, 2019 and 2018, respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2018 was ($3.1) million . The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2018 was ($5.2) million . Based on market prices as of September 30, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $42 million of net unrealized losses. Approximately $30 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($2) Financial transmission rights $— Purchased power expense (b) $25 Electricity swaps and options $— (c) Competitive business operating revenues $1 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $— Financial transmission rights $— Purchased power expense (b) $31 Electricity swaps and options $— (c) Competitive business operating revenues ($2) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps and options $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($9) Financial transmission rights $— Purchased power expense (b) $78 Electricity swaps and options $— (c) Competitive business operating revenues $4 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $5 Financial transmission rights $— Purchased power expense (b) $104 Electricity swaps and options $— (c) Competitive business operating revenues $— (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electrici |
Entergy Mississippi [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2019 is approximately 1.5 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for the remainder of 2019 , of which approximately 72% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2019 is 6.1 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guarantee, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $13 million in cash collateral were required to be posted by the Entergy subsidiary to its counterparties and $2 million in cash and $48 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2019 is 4.5 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of September 30, 2019 is 6 months each for Entergy Mississippi and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2019 is 40,346,000 MMBtu for Entergy, including 32,880,000 MMBtu for Entergy Louisiana, 6,210,000 MMBtu for Entergy Mississippi, and 1,256,000 for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2019 is 79,459 GWh for Entergy, including 17,898 GWh for Entergy Arkansas, 36,474 GWh for Entergy Louisiana, 10,087 GWh for Entergy Mississippi, 3,751 GWh for Entergy New Orleans, and 10,931 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of September 30, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of September 30, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 2019 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $35 ($5) $30 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $14 ($2) $12 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $5 ($5) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($3) $6 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $17 ($1) $16 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $4 ($4) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $4 $— $4 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 Utility (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $2 million held and $13 million posted as of September 30, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $48 million held as of September 30, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in other comprehensive income Income Statement location Amount of gain reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2019 Electricity swaps and options ($7) Competitive businesses operating revenues $19 2018 Electricity swaps and options ($51) Competitive businesses operating revenues ($11) (a) Before taxes of $4 million and ($2) million for the three months ended September 30, 2019 and 2018, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain recognized in other Income Statement location Amount of gain (loss) (In Millions) (In Millions) 2019 Electricity swaps and options $145 Competitive businesses operating revenues $76 2018 Electricity swaps and options ($40) Competitive businesses operating revenues ($38) (a) Before taxes of $16 million and ($8) million for the nine months ended September 30, 2019 and 2018, respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2018 was ($3.1) million . The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2018 was ($5.2) million . Based on market prices as of September 30, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $42 million of net unrealized losses. Approximately $30 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($2) Financial transmission rights $— Purchased power expense (b) $25 Electricity swaps and options $— (c) Competitive business operating revenues $1 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $— Financial transmission rights $— Purchased power expense (b) $31 Electricity swaps and options $— (c) Competitive business operating revenues ($2) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps and options $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($9) Financial transmission rights $— Purchased power expense (b) $78 Electricity swaps and options $— (c) Competitive business operating revenues $4 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $5 Financial transmission rights $— Purchased power expense (b) $104 Electricity swaps and options $— (c) Competitive business operating revenues $— (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electrici |
Entergy New Orleans [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2019 is approximately 1.5 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for the remainder of 2019 , of which approximately 72% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2019 is 6.1 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guarantee, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $13 million in cash collateral were required to be posted by the Entergy subsidiary to its counterparties and $2 million in cash and $48 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2019 is 4.5 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of September 30, 2019 is 6 months each for Entergy Mississippi and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2019 is 40,346,000 MMBtu for Entergy, including 32,880,000 MMBtu for Entergy Louisiana, 6,210,000 MMBtu for Entergy Mississippi, and 1,256,000 for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2019 is 79,459 GWh for Entergy, including 17,898 GWh for Entergy Arkansas, 36,474 GWh for Entergy Louisiana, 10,087 GWh for Entergy Mississippi, 3,751 GWh for Entergy New Orleans, and 10,931 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of September 30, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of September 30, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 2019 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $35 ($5) $30 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $14 ($2) $12 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $5 ($5) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($3) $6 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $17 ($1) $16 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $4 ($4) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $4 $— $4 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 Utility (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $2 million held and $13 million posted as of September 30, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $48 million held as of September 30, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in other comprehensive income Income Statement location Amount of gain reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2019 Electricity swaps and options ($7) Competitive businesses operating revenues $19 2018 Electricity swaps and options ($51) Competitive businesses operating revenues ($11) (a) Before taxes of $4 million and ($2) million for the three months ended September 30, 2019 and 2018, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain recognized in other Income Statement location Amount of gain (loss) (In Millions) (In Millions) 2019 Electricity swaps and options $145 Competitive businesses operating revenues $76 2018 Electricity swaps and options ($40) Competitive businesses operating revenues ($38) (a) Before taxes of $16 million and ($8) million for the nine months ended September 30, 2019 and 2018, respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2018 was ($3.1) million . The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2018 was ($5.2) million . Based on market prices as of September 30, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $42 million of net unrealized losses. Approximately $30 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($2) Financial transmission rights $— Purchased power expense (b) $25 Electricity swaps and options $— (c) Competitive business operating revenues $1 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $— Financial transmission rights $— Purchased power expense (b) $31 Electricity swaps and options $— (c) Competitive business operating revenues ($2) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps and options $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($9) Financial transmission rights $— Purchased power expense (b) $78 Electricity swaps and options $— (c) Competitive business operating revenues $4 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $5 Financial transmission rights $— Purchased power expense (b) $104 Electricity swaps and options $— (c) Competitive business operating revenues $— (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electrici |
Entergy Texas [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2019 is approximately 1.5 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for the remainder of 2019 , of which approximately 72% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2019 is 6.1 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guarantee, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $13 million in cash collateral were required to be posted by the Entergy subsidiary to its counterparties and $2 million in cash and $48 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2019 is 4.5 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of September 30, 2019 is 6 months each for Entergy Mississippi and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2019 is 40,346,000 MMBtu for Entergy, including 32,880,000 MMBtu for Entergy Louisiana, 6,210,000 MMBtu for Entergy Mississippi, and 1,256,000 for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2019 is 79,459 GWh for Entergy, including 17,898 GWh for Entergy Arkansas, 36,474 GWh for Entergy Louisiana, 10,087 GWh for Entergy Mississippi, 3,751 GWh for Entergy New Orleans, and 10,931 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of September 30, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of September 30, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 2019 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $35 ($5) $30 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $14 ($2) $12 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $5 ($5) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($3) $6 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $17 ($1) $16 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $4 ($4) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $4 $— $4 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 Utility (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $2 million held and $13 million posted as of September 30, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $48 million held as of September 30, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in other comprehensive income Income Statement location Amount of gain reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2019 Electricity swaps and options ($7) Competitive businesses operating revenues $19 2018 Electricity swaps and options ($51) Competitive businesses operating revenues ($11) (a) Before taxes of $4 million and ($2) million for the three months ended September 30, 2019 and 2018, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain recognized in other Income Statement location Amount of gain (loss) (In Millions) (In Millions) 2019 Electricity swaps and options $145 Competitive businesses operating revenues $76 2018 Electricity swaps and options ($40) Competitive businesses operating revenues ($38) (a) Before taxes of $16 million and ($8) million for the nine months ended September 30, 2019 and 2018, respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2018 was ($3.1) million . The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2018 was ($5.2) million . Based on market prices as of September 30, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $42 million of net unrealized losses. Approximately $30 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($2) Financial transmission rights $— Purchased power expense (b) $25 Electricity swaps and options $— (c) Competitive business operating revenues $1 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $— Financial transmission rights $— Purchased power expense (b) $31 Electricity swaps and options $— (c) Competitive business operating revenues ($2) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps and options $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($9) Financial transmission rights $— Purchased power expense (b) $78 Electricity swaps and options $— (c) Competitive business operating revenues $4 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $5 Financial transmission rights $— Purchased power expense (b) $104 Electricity swaps and options $— (c) Competitive business operating revenues $— (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electrici |
System Energy [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. Entergy’s exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option’s contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy’s risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2019 is approximately 1.5 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 97% for the remainder of 2019 , of which approximately 72% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2019 is 6.1 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guarantee, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of September 30, 2019 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $13 million in cash collateral were required to be posted by the Entergy subsidiary to its counterparties and $2 million in cash and $48 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2018 , derivative contracts with six counterparties were in a liability position (approximately $34 million total). In addition to the corporate guarantee, $19 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of natural gas swaps and options that financially settle against either the average Henry Hub Gas Daily prices or the NYMEX Henry Hub. These swaps and options are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas price volatility for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy New Orleans. The maximum length of time over which Entergy has executed natural gas swaps and options as of September 30, 2019 is 4.5 years for Entergy Louisiana and the maximum length of time over which Entergy has executed natural gas swaps as of September 30, 2019 is 6 months each for Entergy Mississippi and Entergy New Orleans. The total volume of natural gas swaps and options outstanding as of September 30, 2019 is 40,346,000 MMBtu for Entergy, including 32,880,000 MMBtu for Entergy Louisiana, 6,210,000 MMBtu for Entergy Mississippi, and 1,256,000 for Entergy New Orleans. Credit support for these natural gas swaps and options is covered by master agreements that do not require Entergy to provide collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2019, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2019 through May 31, 2020. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of September 30, 2019 is 79,459 GWh for Entergy, including 17,898 GWh for Entergy Arkansas, 36,474 GWh for Entergy Louisiana, 10,087 GWh for Entergy Mississippi, 3,751 GWh for Entergy New Orleans, and 10,931 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of September 30, 2019 and December 31, 2018. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Mississippi as of September 30, 2019 and Entergy Mississippi and Entergy Texas as of December 31, 2018. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 2019 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $35 ($5) $30 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $14 ($2) $12 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $5 ($5) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($3) $6 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $17 ($1) $16 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $4 ($4) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $4 $— $4 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 Utility (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $2 million held and $13 million posted as of September 30, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $48 million held as of September 30, 2019 and $4 million posted as of December 31, 2018. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in other comprehensive income Income Statement location Amount of gain reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2019 Electricity swaps and options ($7) Competitive businesses operating revenues $19 2018 Electricity swaps and options ($51) Competitive businesses operating revenues ($11) (a) Before taxes of $4 million and ($2) million for the three months ended September 30, 2019 and 2018, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain recognized in other Income Statement location Amount of gain (loss) (In Millions) (In Millions) 2019 Electricity swaps and options $145 Competitive businesses operating revenues $76 2018 Electricity swaps and options ($40) Competitive businesses operating revenues ($38) (a) Before taxes of $16 million and ($8) million for the nine months ended September 30, 2019 and 2018, respectively Prior to the adoption of ASU 2017-12, Entergy measured its hedges for ineffectiveness. Any ineffectiveness was recognized in earnings during the period. The ineffective portion of cash flow hedges was recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2018 was ($3.1) million . The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2018 was ($5.2) million . Based on market prices as of September 30, 2019 , unrealized gains (losses) recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $42 million of net unrealized losses. Approximately $30 million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($2) Financial transmission rights $— Purchased power expense (b) $25 Electricity swaps and options $— (c) Competitive business operating revenues $1 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $— Financial transmission rights $— Purchased power expense (b) $31 Electricity swaps and options $— (c) Competitive business operating revenues ($2) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps and options $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($9) Financial transmission rights $— Purchased power expense (b) $78 Electricity swaps and options $— (c) Competitive business operating revenues $4 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $5 Financial transmission rights $— Purchased power expense (b) $104 Electricity swaps and options $— (c) Competitive business operating revenues $— (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million for Entergy Texas. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas swaps traded on exchanges with active markets. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments and gas swaps and options valued using observable inputs. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electrici |
Decommissioning Trust Funds
Decommissioning Trust Funds | 9 Months Ended |
Sep. 30, 2019 | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Indian Point 1, Indian Point 2, Indian Point 3, and Palisades. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. As discussed in Note 16 to the financial statements herein and Note 14 to the financial statements in the Form 10-K, in January 2019, Entergy completed the transfer of the Vermont Yankee plant to NorthStar. As part of the transaction, Entergy transferred the Vermont Yankee decommissioning trust fund to NorthStar. As of December 31, 2018, the fair value of the decommissioning trust fund was $532 million . As discussed in Note 16 to the financial statements herein, in August 2019, Entergy completed the transfer of the Pilgrim plant to Holtec. As part of the transaction, Entergy transferred the Pilgrim decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $1,030 million . Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Indian Point 1, Indian Point 2, Indian Point 3, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $17 million and $491 million , respectively. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities (a) $2,462 $114 $2 2018 Debt Securities (a) $2,495 $19 $35 (a) Debt securities presented herein do not include the $506 million and $389 million of debt securities held in the wholly-owned registered investment company as of September 30, 2019 and December 31, 2018 , respectively, which are not accounted for as available-for-sale. The unrealized gains/(losses) above are reported before deferred taxes of $16 million as of September 30, 2019 and ($1) million as of December 31, 2018 for debt securities. The amortized cost of available-for-sale debt securities was $2,362 million as of September 30, 2019 and $2,511 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.15% , an average duration of approximately 5.63 years, and an average maturity of approximately 9.02 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $236 $2 More than 12 months 67 — Total $303 $2 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $652 $9 More than 12 months 782 26 Total $1,434 $35 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $165 $199 1 year - 5 years 870 1,066 5 years - 10 years 636 544 10 years - 15 years 89 77 15 years - 20 years 98 78 20 years+ 604 531 Total $2,462 $2,495 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $407 million and $2,377 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $11 million and $4 million , respectively, and gross losses of $0.4 million and $15 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $1,133 million and $4,178 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $20 million and $6 million , respectively, and gross losses of $3 million and $37 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of September 30, 2019 are $534 million for Indian Point 1, $676 million for Indian Point 2, $893 million for Indian Point 3, and $492 million for Palisades. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2018 are $471 million for Indian Point 1, $598 million for Indian Point 2, $781 million for Indian Point 3, $444 million for Palisades, $1,028 million for Pilgrim, and $532 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $407.7 $11.8 $0.9 2018 Debt Securities $381.3 $0.6 $8.2 The amortized cost of available-for-sale debt securities was $396.8 million as of September 30, 2019 and $389 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 2.78% , an average duration of approximately 5.57 years, and an average maturity of approximately 8.13 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $2.6 million and $96.5 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $51.5 $0.8 More than 12 months 21.0 0.1 Total $72.5 $0.9 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $65.8 $0.5 More than 12 months 231.1 7.7 Total $296.9 $8.2 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $50.3 $32.5 1 year - 5 years 120.4 170.3 5 years - 10 years 144.5 114.0 10 years - 15 years 24.3 10.3 15 years - 20 years 14.2 8.1 20 years+ 54.0 46.1 Total $407.7 $381.3 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $45.5 million and $137.9 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $2 million and $0.01 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2018, gross losses of $0.6 million related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2019 , there were no gross losses. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $78.7 million and $259.3 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $2.1 million and $0.1 million , respectively, and gross losses of $0.1 million and $3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $593.4 $32.6 $0.3 2018 Debt Securities $532.9 $4.1 $6.0 The amortized cost of available-for-sale debt securities was $561 million as of September 30, 2019 and $534.8 million as of December 31, 2018 . As of September 30, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.85% , an average duration of approximately 6.53 years, and an average maturity of approximately 13.11 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $6 million and $137.2 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $49.3 $0.3 More than 12 months 12.9 — Total $62.2 $0.3 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $170.1 $2.1 More than 12 months 145.8 3.9 Total $315.9 $6.0 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $56.6 $31.1 1 year - 5 years 138.2 130.5 5 years - 10 years 118.4 111.0 10 years - 15 years 34.7 29.0 15 years - 20 years 45.0 37.1 20 years+ 200.5 194.2 Total $593.4 $532.9 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $59.7 million and $773.9 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $2.5 million and $1.9 million , respectively, and gross losses of $29 thousand and $3.6 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $155.4 million and $943.3 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $4.2 million and $2.5 million , respectively, and gross losses of $0.2 million and $4.8 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $395.3 $19.7 $0.1 2018 Debt Securities $364.2 $2.9 $5.8 The amortized cost of available-for-sale debt securities was $375.6 million as of September 30, 2019 and $367.1 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.09% , an average duration of approximately 6.84 years, and an average maturity of approximately 9.88 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $2.5 million and $91.8 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $38.8 $0.1 More than 12 months 4.3 — Total $43.1 $0.1 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $89.7 $2.4 More than 12 months 79.8 3.4 Total $169.5 $5.8 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $11.2 $22.8 1 year - 5 years 187.7 188.0 5 years - 10 years 92.7 73.4 10 years - 15 years 3.0 5.2 15 years - 20 years 5.9 10.2 20 years+ 94.8 64.6 Total $395.3 $364.2 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $108.6 million and $157.8 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $1.7 million and $6.5 thousand , respectively, and gross losses of $0.2 million and $0.3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $238.4 million and $357.2 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $3.6 million and $0.3 million , respectively, and gross losses of $0.6 million and $4.8 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three and nine months ended September 30, 2019 and 2018 |
Entergy Arkansas [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Indian Point 1, Indian Point 2, Indian Point 3, and Palisades. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. As discussed in Note 16 to the financial statements herein and Note 14 to the financial statements in the Form 10-K, in January 2019, Entergy completed the transfer of the Vermont Yankee plant to NorthStar. As part of the transaction, Entergy transferred the Vermont Yankee decommissioning trust fund to NorthStar. As of December 31, 2018, the fair value of the decommissioning trust fund was $532 million . As discussed in Note 16 to the financial statements herein, in August 2019, Entergy completed the transfer of the Pilgrim plant to Holtec. As part of the transaction, Entergy transferred the Pilgrim decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $1,030 million . Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Indian Point 1, Indian Point 2, Indian Point 3, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $17 million and $491 million , respectively. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities (a) $2,462 $114 $2 2018 Debt Securities (a) $2,495 $19 $35 (a) Debt securities presented herein do not include the $506 million and $389 million of debt securities held in the wholly-owned registered investment company as of September 30, 2019 and December 31, 2018 , respectively, which are not accounted for as available-for-sale. The unrealized gains/(losses) above are reported before deferred taxes of $16 million as of September 30, 2019 and ($1) million as of December 31, 2018 for debt securities. The amortized cost of available-for-sale debt securities was $2,362 million as of September 30, 2019 and $2,511 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.15% , an average duration of approximately 5.63 years, and an average maturity of approximately 9.02 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $236 $2 More than 12 months 67 — Total $303 $2 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $652 $9 More than 12 months 782 26 Total $1,434 $35 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $165 $199 1 year - 5 years 870 1,066 5 years - 10 years 636 544 10 years - 15 years 89 77 15 years - 20 years 98 78 20 years+ 604 531 Total $2,462 $2,495 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $407 million and $2,377 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $11 million and $4 million , respectively, and gross losses of $0.4 million and $15 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $1,133 million and $4,178 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $20 million and $6 million , respectively, and gross losses of $3 million and $37 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of September 30, 2019 are $534 million for Indian Point 1, $676 million for Indian Point 2, $893 million for Indian Point 3, and $492 million for Palisades. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2018 are $471 million for Indian Point 1, $598 million for Indian Point 2, $781 million for Indian Point 3, $444 million for Palisades, $1,028 million for Pilgrim, and $532 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $407.7 $11.8 $0.9 2018 Debt Securities $381.3 $0.6 $8.2 The amortized cost of available-for-sale debt securities was $396.8 million as of September 30, 2019 and $389 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 2.78% , an average duration of approximately 5.57 years, and an average maturity of approximately 8.13 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $2.6 million and $96.5 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $51.5 $0.8 More than 12 months 21.0 0.1 Total $72.5 $0.9 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $65.8 $0.5 More than 12 months 231.1 7.7 Total $296.9 $8.2 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $50.3 $32.5 1 year - 5 years 120.4 170.3 5 years - 10 years 144.5 114.0 10 years - 15 years 24.3 10.3 15 years - 20 years 14.2 8.1 20 years+ 54.0 46.1 Total $407.7 $381.3 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $45.5 million and $137.9 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $2 million and $0.01 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2018, gross losses of $0.6 million related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2019 , there were no gross losses. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $78.7 million and $259.3 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $2.1 million and $0.1 million , respectively, and gross losses of $0.1 million and $3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $593.4 $32.6 $0.3 2018 Debt Securities $532.9 $4.1 $6.0 The amortized cost of available-for-sale debt securities was $561 million as of September 30, 2019 and $534.8 million as of December 31, 2018 . As of September 30, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.85% , an average duration of approximately 6.53 years, and an average maturity of approximately 13.11 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $6 million and $137.2 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $49.3 $0.3 More than 12 months 12.9 — Total $62.2 $0.3 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $170.1 $2.1 More than 12 months 145.8 3.9 Total $315.9 $6.0 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $56.6 $31.1 1 year - 5 years 138.2 130.5 5 years - 10 years 118.4 111.0 10 years - 15 years 34.7 29.0 15 years - 20 years 45.0 37.1 20 years+ 200.5 194.2 Total $593.4 $532.9 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $59.7 million and $773.9 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $2.5 million and $1.9 million , respectively, and gross losses of $29 thousand and $3.6 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $155.4 million and $943.3 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $4.2 million and $2.5 million , respectively, and gross losses of $0.2 million and $4.8 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $395.3 $19.7 $0.1 2018 Debt Securities $364.2 $2.9 $5.8 The amortized cost of available-for-sale debt securities was $375.6 million as of September 30, 2019 and $367.1 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.09% , an average duration of approximately 6.84 years, and an average maturity of approximately 9.88 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $2.5 million and $91.8 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $38.8 $0.1 More than 12 months 4.3 — Total $43.1 $0.1 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $89.7 $2.4 More than 12 months 79.8 3.4 Total $169.5 $5.8 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $11.2 $22.8 1 year - 5 years 187.7 188.0 5 years - 10 years 92.7 73.4 10 years - 15 years 3.0 5.2 15 years - 20 years 5.9 10.2 20 years+ 94.8 64.6 Total $395.3 $364.2 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $108.6 million and $157.8 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $1.7 million and $6.5 thousand , respectively, and gross losses of $0.2 million and $0.3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $238.4 million and $357.2 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $3.6 million and $0.3 million , respectively, and gross losses of $0.6 million and $4.8 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three and nine months ended September 30, 2019 and 2018 |
Entergy Louisiana [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Indian Point 1, Indian Point 2, Indian Point 3, and Palisades. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. As discussed in Note 16 to the financial statements herein and Note 14 to the financial statements in the Form 10-K, in January 2019, Entergy completed the transfer of the Vermont Yankee plant to NorthStar. As part of the transaction, Entergy transferred the Vermont Yankee decommissioning trust fund to NorthStar. As of December 31, 2018, the fair value of the decommissioning trust fund was $532 million . As discussed in Note 16 to the financial statements herein, in August 2019, Entergy completed the transfer of the Pilgrim plant to Holtec. As part of the transaction, Entergy transferred the Pilgrim decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $1,030 million . Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Indian Point 1, Indian Point 2, Indian Point 3, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $17 million and $491 million , respectively. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities (a) $2,462 $114 $2 2018 Debt Securities (a) $2,495 $19 $35 (a) Debt securities presented herein do not include the $506 million and $389 million of debt securities held in the wholly-owned registered investment company as of September 30, 2019 and December 31, 2018 , respectively, which are not accounted for as available-for-sale. The unrealized gains/(losses) above are reported before deferred taxes of $16 million as of September 30, 2019 and ($1) million as of December 31, 2018 for debt securities. The amortized cost of available-for-sale debt securities was $2,362 million as of September 30, 2019 and $2,511 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.15% , an average duration of approximately 5.63 years, and an average maturity of approximately 9.02 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $236 $2 More than 12 months 67 — Total $303 $2 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $652 $9 More than 12 months 782 26 Total $1,434 $35 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $165 $199 1 year - 5 years 870 1,066 5 years - 10 years 636 544 10 years - 15 years 89 77 15 years - 20 years 98 78 20 years+ 604 531 Total $2,462 $2,495 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $407 million and $2,377 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $11 million and $4 million , respectively, and gross losses of $0.4 million and $15 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $1,133 million and $4,178 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $20 million and $6 million , respectively, and gross losses of $3 million and $37 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of September 30, 2019 are $534 million for Indian Point 1, $676 million for Indian Point 2, $893 million for Indian Point 3, and $492 million for Palisades. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2018 are $471 million for Indian Point 1, $598 million for Indian Point 2, $781 million for Indian Point 3, $444 million for Palisades, $1,028 million for Pilgrim, and $532 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $407.7 $11.8 $0.9 2018 Debt Securities $381.3 $0.6 $8.2 The amortized cost of available-for-sale debt securities was $396.8 million as of September 30, 2019 and $389 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 2.78% , an average duration of approximately 5.57 years, and an average maturity of approximately 8.13 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $2.6 million and $96.5 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $51.5 $0.8 More than 12 months 21.0 0.1 Total $72.5 $0.9 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $65.8 $0.5 More than 12 months 231.1 7.7 Total $296.9 $8.2 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $50.3 $32.5 1 year - 5 years 120.4 170.3 5 years - 10 years 144.5 114.0 10 years - 15 years 24.3 10.3 15 years - 20 years 14.2 8.1 20 years+ 54.0 46.1 Total $407.7 $381.3 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $45.5 million and $137.9 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $2 million and $0.01 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2018, gross losses of $0.6 million related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2019 , there were no gross losses. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $78.7 million and $259.3 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $2.1 million and $0.1 million , respectively, and gross losses of $0.1 million and $3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $593.4 $32.6 $0.3 2018 Debt Securities $532.9 $4.1 $6.0 The amortized cost of available-for-sale debt securities was $561 million as of September 30, 2019 and $534.8 million as of December 31, 2018 . As of September 30, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.85% , an average duration of approximately 6.53 years, and an average maturity of approximately 13.11 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $6 million and $137.2 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $49.3 $0.3 More than 12 months 12.9 — Total $62.2 $0.3 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $170.1 $2.1 More than 12 months 145.8 3.9 Total $315.9 $6.0 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $56.6 $31.1 1 year - 5 years 138.2 130.5 5 years - 10 years 118.4 111.0 10 years - 15 years 34.7 29.0 15 years - 20 years 45.0 37.1 20 years+ 200.5 194.2 Total $593.4 $532.9 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $59.7 million and $773.9 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $2.5 million and $1.9 million , respectively, and gross losses of $29 thousand and $3.6 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $155.4 million and $943.3 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $4.2 million and $2.5 million , respectively, and gross losses of $0.2 million and $4.8 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $395.3 $19.7 $0.1 2018 Debt Securities $364.2 $2.9 $5.8 The amortized cost of available-for-sale debt securities was $375.6 million as of September 30, 2019 and $367.1 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.09% , an average duration of approximately 6.84 years, and an average maturity of approximately 9.88 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $2.5 million and $91.8 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $38.8 $0.1 More than 12 months 4.3 — Total $43.1 $0.1 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $89.7 $2.4 More than 12 months 79.8 3.4 Total $169.5 $5.8 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $11.2 $22.8 1 year - 5 years 187.7 188.0 5 years - 10 years 92.7 73.4 10 years - 15 years 3.0 5.2 15 years - 20 years 5.9 10.2 20 years+ 94.8 64.6 Total $395.3 $364.2 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $108.6 million and $157.8 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $1.7 million and $6.5 thousand , respectively, and gross losses of $0.2 million and $0.3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $238.4 million and $357.2 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $3.6 million and $0.3 million , respectively, and gross losses of $0.6 million and $4.8 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three and nine months ended September 30, 2019 and 2018 |
System Energy [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) The NRC requires Entergy subsidiaries to maintain nuclear decommissioning trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Indian Point 1, Indian Point 2, Indian Point 3, and Palisades. Entergy’s nuclear decommissioning trust funds invest in equity securities, fixed-rate debt securities, and cash and cash equivalents. As discussed in Note 16 to the financial statements herein and Note 14 to the financial statements in the Form 10-K, in January 2019, Entergy completed the transfer of the Vermont Yankee plant to NorthStar. As part of the transaction, Entergy transferred the Vermont Yankee decommissioning trust fund to NorthStar. As of December 31, 2018, the fair value of the decommissioning trust fund was $532 million . As discussed in Note 16 to the financial statements herein, in August 2019, Entergy completed the transfer of the Pilgrim plant to Holtec. As part of the transaction, Entergy transferred the Pilgrim decommissioning trust fund to Holtec. The disposition-date fair value of the decommissioning trust fund was approximately $1,030 million . Entergy records decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the unrealized trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Indian Point 1, Indian Point 2, Indian Point 3, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains/(losses) recorded on the equity securities in the trust funds are recognized in earnings. Unrealized gains recorded on the available-for-sale debt securities in the trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity. Unrealized losses (where cost exceeds fair market value) on the available-for-sale debt securities in the trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other than temporary and therefore recorded in earnings. A portion of Entergy’s decommissioning trust funds are held in a wholly-owned registered investment company, and unrealized gains and losses on both the equity and debt securities held in the registered investment company are recognized in earnings. Generally, Entergy records gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $17 million and $491 million , respectively. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The debt securities are generally held in individual government and credit issuances. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities (a) $2,462 $114 $2 2018 Debt Securities (a) $2,495 $19 $35 (a) Debt securities presented herein do not include the $506 million and $389 million of debt securities held in the wholly-owned registered investment company as of September 30, 2019 and December 31, 2018 , respectively, which are not accounted for as available-for-sale. The unrealized gains/(losses) above are reported before deferred taxes of $16 million as of September 30, 2019 and ($1) million as of December 31, 2018 for debt securities. The amortized cost of available-for-sale debt securities was $2,362 million as of September 30, 2019 and $2,511 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.15% , an average duration of approximately 5.63 years, and an average maturity of approximately 9.02 years. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $236 $2 More than 12 months 67 — Total $303 $2 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $652 $9 More than 12 months 782 26 Total $1,434 $35 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $165 $199 1 year - 5 years 870 1,066 5 years - 10 years 636 544 10 years - 15 years 89 77 15 years - 20 years 98 78 20 years+ 604 531 Total $2,462 $2,495 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $407 million and $2,377 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $11 million and $4 million , respectively, and gross losses of $0.4 million and $15 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $1,133 million and $4,178 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $20 million and $6 million , respectively, and gross losses of $3 million and $37 million , respectively, related to available-for-sale securities were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of September 30, 2019 are $534 million for Indian Point 1, $676 million for Indian Point 2, $893 million for Indian Point 3, and $492 million for Palisades. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2018 are $471 million for Indian Point 1, $598 million for Indian Point 2, $781 million for Indian Point 3, $444 million for Palisades, $1,028 million for Pilgrim, and $532 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Entergy Arkansas Entergy Arkansas holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $407.7 $11.8 $0.9 2018 Debt Securities $381.3 $0.6 $8.2 The amortized cost of available-for-sale debt securities was $396.8 million as of September 30, 2019 and $389 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 2.78% , an average duration of approximately 5.57 years, and an average maturity of approximately 8.13 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $2.6 million and $96.5 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $51.5 $0.8 More than 12 months 21.0 0.1 Total $72.5 $0.9 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $65.8 $0.5 More than 12 months 231.1 7.7 Total $296.9 $8.2 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $50.3 $32.5 1 year - 5 years 120.4 170.3 5 years - 10 years 144.5 114.0 10 years - 15 years 24.3 10.3 15 years - 20 years 14.2 8.1 20 years+ 54.0 46.1 Total $407.7 $381.3 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $45.5 million and $137.9 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $2 million and $0.01 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2018, gross losses of $0.6 million related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the three months ended September 30, 2019 , there were no gross losses. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $78.7 million and $259.3 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $2.1 million and $0.1 million , respectively, and gross losses of $0.1 million and $3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Entergy Louisiana Entergy Louisiana holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $593.4 $32.6 $0.3 2018 Debt Securities $532.9 $4.1 $6.0 The amortized cost of available-for-sale debt securities was $561 million as of September 30, 2019 and $534.8 million as of December 31, 2018 . As of September 30, 2019 , the available-for-sale debt securities have an average coupon rate of approximately 3.85% , an average duration of approximately 6.53 years, and an average maturity of approximately 13.11 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $6 million and $137.2 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $49.3 $0.3 More than 12 months 12.9 — Total $62.2 $0.3 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $170.1 $2.1 More than 12 months 145.8 3.9 Total $315.9 $6.0 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $56.6 $31.1 1 year - 5 years 138.2 130.5 5 years - 10 years 118.4 111.0 10 years - 15 years 34.7 29.0 15 years - 20 years 45.0 37.1 20 years+ 200.5 194.2 Total $593.4 $532.9 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $59.7 million and $773.9 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $2.5 million and $1.9 million , respectively, and gross losses of $29 thousand and $3.6 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $155.4 million and $943.3 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $4.2 million and $2.5 million , respectively, and gross losses of $0.2 million and $4.8 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. System Energy System Energy holds equity securities and available-for-sale debt securities in nuclear decommissioning trust accounts. The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $395.3 $19.7 $0.1 2018 Debt Securities $364.2 $2.9 $5.8 The amortized cost of available-for-sale debt securities was $375.6 million as of September 30, 2019 and $367.1 million as of December 31, 2018 . As of September 30, 2019 , available-for-sale debt securities have an average coupon rate of approximately 3.09% , an average duration of approximately 6.84 years, and an average maturity of approximately 9.88 years. The unrealized gains/(losses) recognized during the three and nine months ended September 30, 2019 on equity securities still held as of September 30, 2019 were $2.5 million and $91.8 million , respectively. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $38.8 $0.1 More than 12 months 4.3 — Total $43.1 $0.1 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $89.7 $2.4 More than 12 months 79.8 3.4 Total $169.5 $5.8 The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $11.2 $22.8 1 year - 5 years 187.7 188.0 5 years - 10 years 92.7 73.4 10 years - 15 years 3.0 5.2 15 years - 20 years 5.9 10.2 20 years+ 94.8 64.6 Total $395.3 $364.2 During the three months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $108.6 million and $157.8 million , respectively. During the three months ended September 30, 2019 and 2018 , gross gains of $1.7 million and $6.5 thousand , respectively, and gross losses of $0.2 million and $0.3 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2019 and 2018 , proceeds from the dispositions of available-for-sale securities amounted to $238.4 million and $357.2 million , respectively. During the nine months ended September 30, 2019 and 2018 , gross gains of $3.6 million and $0.3 million , respectively, and gross losses of $0.6 million and $4.8 million , respectively, related to available-for-sale securities were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates the available-for-sale debt securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the three and nine months ended September 30, 2019 and 2018 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ 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 audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 Other Tax Matters In April 2019 the state of Arkansas enacted corporate income tax law changes that phase in an Arkansas tax rate reduction from the current rate of 6.5% to 6.2% in 2021 and 5.9% in 2022. The rate reduction will eventually reduce Entergy Arkansas’s combined federal and state applicable tax rate by less than 0.5% once fully adopted. As a result of the rate reduction, Entergy Arkansas recorded a regulatory liability for income taxes of approximately $25 million which includes a tax gross-up related to the treatment of income taxes in the ratemaking formula. The Arkansas tax law enactment also phases in an increase to the net operating loss carryover period from five to ten years. In September 2019, Entergy Utility Holding Company, LLC and its regulated, wholly owned subsidiaries including Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans, became eligible to and joined the Entergy Corporation consolidated federal income tax group. Additionally, in September 2019, Entergy Texas issued $35 million of 5.375% Series A preferred stock with a liquidation value of $25 per share resulting in the disaffiliation and de-consolidation of Entergy Texas from the consolidated federal income tax return of Entergy Corporation. These changes will not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. See Note 3 to the financial statements herein for discussion of the preferred stock issuance. Vermont Yankee The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. See Note 16 to the financial statements herein for discussion of the Vermont Yankee transaction. |
Entergy Arkansas [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ 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 audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 Other Tax Matters In April 2019 the state of Arkansas enacted corporate income tax law changes that phase in an Arkansas tax rate reduction from the current rate of 6.5% to 6.2% in 2021 and 5.9% in 2022. The rate reduction will eventually reduce Entergy Arkansas’s combined federal and state applicable tax rate by less than 0.5% once fully adopted. As a result of the rate reduction, Entergy Arkansas recorded a regulatory liability for income taxes of approximately $25 million which includes a tax gross-up related to the treatment of income taxes in the ratemaking formula. The Arkansas tax law enactment also phases in an increase to the net operating loss carryover period from five to ten years. In September 2019, Entergy Utility Holding Company, LLC and its regulated, wholly owned subsidiaries including Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans, became eligible to and joined the Entergy Corporation consolidated federal income tax group. Additionally, in September 2019, Entergy Texas issued $35 million of 5.375% Series A preferred stock with a liquidation value of $25 per share resulting in the disaffiliation and de-consolidation of Entergy Texas from the consolidated federal income tax return of Entergy Corporation. These changes will not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. See Note 3 to the financial statements herein for discussion of the preferred stock issuance. Vermont Yankee The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. See Note 16 to the financial statements herein for discussion of the Vermont Yankee transaction. |
Entergy Louisiana [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ 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 audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 Other Tax Matters In April 2019 the state of Arkansas enacted corporate income tax law changes that phase in an Arkansas tax rate reduction from the current rate of 6.5% to 6.2% in 2021 and 5.9% in 2022. The rate reduction will eventually reduce Entergy Arkansas’s combined federal and state applicable tax rate by less than 0.5% once fully adopted. As a result of the rate reduction, Entergy Arkansas recorded a regulatory liability for income taxes of approximately $25 million which includes a tax gross-up related to the treatment of income taxes in the ratemaking formula. The Arkansas tax law enactment also phases in an increase to the net operating loss carryover period from five to ten years. In September 2019, Entergy Utility Holding Company, LLC and its regulated, wholly owned subsidiaries including Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans, became eligible to and joined the Entergy Corporation consolidated federal income tax group. Additionally, in September 2019, Entergy Texas issued $35 million of 5.375% Series A preferred stock with a liquidation value of $25 per share resulting in the disaffiliation and de-consolidation of Entergy Texas from the consolidated federal income tax return of Entergy Corporation. These changes will not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. See Note 3 to the financial statements herein for discussion of the preferred stock issuance. Vermont Yankee The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. See Note 16 to the financial statements herein for discussion of the Vermont Yankee transaction. |
Entergy Mississippi [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ 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 audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 Other Tax Matters In April 2019 the state of Arkansas enacted corporate income tax law changes that phase in an Arkansas tax rate reduction from the current rate of 6.5% to 6.2% in 2021 and 5.9% in 2022. The rate reduction will eventually reduce Entergy Arkansas’s combined federal and state applicable tax rate by less than 0.5% once fully adopted. As a result of the rate reduction, Entergy Arkansas recorded a regulatory liability for income taxes of approximately $25 million which includes a tax gross-up related to the treatment of income taxes in the ratemaking formula. The Arkansas tax law enactment also phases in an increase to the net operating loss carryover period from five to ten years. In September 2019, Entergy Utility Holding Company, LLC and its regulated, wholly owned subsidiaries including Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans, became eligible to and joined the Entergy Corporation consolidated federal income tax group. Additionally, in September 2019, Entergy Texas issued $35 million of 5.375% Series A preferred stock with a liquidation value of $25 per share resulting in the disaffiliation and de-consolidation of Entergy Texas from the consolidated federal income tax return of Entergy Corporation. These changes will not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. See Note 3 to the financial statements herein for discussion of the preferred stock issuance. Vermont Yankee The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. See Note 16 to the financial statements herein for discussion of the Vermont Yankee transaction. |
Entergy New Orleans [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ 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 audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 Other Tax Matters In April 2019 the state of Arkansas enacted corporate income tax law changes that phase in an Arkansas tax rate reduction from the current rate of 6.5% to 6.2% in 2021 and 5.9% in 2022. The rate reduction will eventually reduce Entergy Arkansas’s combined federal and state applicable tax rate by less than 0.5% once fully adopted. As a result of the rate reduction, Entergy Arkansas recorded a regulatory liability for income taxes of approximately $25 million which includes a tax gross-up related to the treatment of income taxes in the ratemaking formula. The Arkansas tax law enactment also phases in an increase to the net operating loss carryover period from five to ten years. In September 2019, Entergy Utility Holding Company, LLC and its regulated, wholly owned subsidiaries including Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans, became eligible to and joined the Entergy Corporation consolidated federal income tax group. Additionally, in September 2019, Entergy Texas issued $35 million of 5.375% Series A preferred stock with a liquidation value of $25 per share resulting in the disaffiliation and de-consolidation of Entergy Texas from the consolidated federal income tax return of Entergy Corporation. These changes will not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. See Note 3 to the financial statements herein for discussion of the preferred stock issuance. Vermont Yankee The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. See Note 16 to the financial statements herein for discussion of the Vermont Yankee transaction. |
Entergy Texas [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ 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 audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 Other Tax Matters In April 2019 the state of Arkansas enacted corporate income tax law changes that phase in an Arkansas tax rate reduction from the current rate of 6.5% to 6.2% in 2021 and 5.9% in 2022. The rate reduction will eventually reduce Entergy Arkansas’s combined federal and state applicable tax rate by less than 0.5% once fully adopted. As a result of the rate reduction, Entergy Arkansas recorded a regulatory liability for income taxes of approximately $25 million which includes a tax gross-up related to the treatment of income taxes in the ratemaking formula. The Arkansas tax law enactment also phases in an increase to the net operating loss carryover period from five to ten years. In September 2019, Entergy Utility Holding Company, LLC and its regulated, wholly owned subsidiaries including Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans, became eligible to and joined the Entergy Corporation consolidated federal income tax group. Additionally, in September 2019, Entergy Texas issued $35 million of 5.375% Series A preferred stock with a liquidation value of $25 per share resulting in the disaffiliation and de-consolidation of Entergy Texas from the consolidated federal income tax return of Entergy Corporation. These changes will not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. See Note 3 to the financial statements herein for discussion of the preferred stock issuance. Vermont Yankee The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. See Note 16 to the financial statements herein for discussion of the Vermont Yankee transaction. |
System Energy [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ 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 audits, the Tax Cuts and Jobs Act, and other income tax matters involving Entergy. The following are updates to that discussion. Tax Cuts and Jobs Act During the second quarter 2018, Registrant Subsidiaries began returning unprotected excess accumulated deferred income taxes, associated with the effects of the Tax Cuts and Jobs Act, to their customers through rate riders and other means approved by their respective regulatory commissions. Return of the unprotected excess accumulated deferred income taxes results in a reduction in the regulatory liability for income taxes and a corresponding reduction in income tax expense. This has a significant effect on the effective tax rate for the period as compared to the statutory tax rate. The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 Other Tax Matters In April 2019 the state of Arkansas enacted corporate income tax law changes that phase in an Arkansas tax rate reduction from the current rate of 6.5% to 6.2% in 2021 and 5.9% in 2022. The rate reduction will eventually reduce Entergy Arkansas’s combined federal and state applicable tax rate by less than 0.5% once fully adopted. As a result of the rate reduction, Entergy Arkansas recorded a regulatory liability for income taxes of approximately $25 million which includes a tax gross-up related to the treatment of income taxes in the ratemaking formula. The Arkansas tax law enactment also phases in an increase to the net operating loss carryover period from five to ten years. In September 2019, Entergy Utility Holding Company, LLC and its regulated, wholly owned subsidiaries including Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans, became eligible to and joined the Entergy Corporation consolidated federal income tax group. Additionally, in September 2019, Entergy Texas issued $35 million of 5.375% Series A preferred stock with a liquidation value of $25 per share resulting in the disaffiliation and de-consolidation of Entergy Texas from the consolidated federal income tax return of Entergy Corporation. These changes will not affect the accrual or allocation of income taxes for the Registrant Subsidiaries. See Note 3 to the financial statements herein for discussion of the preferred stock issuance. Vermont Yankee The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. See Note 16 to the financial statements herein for discussion of the Vermont Yankee transaction. |
Property, Plant, And Equipment
Property, Plant, And Equipment | 9 Months Ended |
Sep. 30, 2019 | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, 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, 2019 are $306 million for Entergy, $41.7 million for Entergy Arkansas, $74 million for Entergy Louisiana, $14.7 million for Entergy Mississippi, $13.9 million for Entergy New Orleans, $81.6 million for Entergy Texas, and $24.6 million for System Energy. Construction expenditures included in accounts payable at December 31, 2018 are $311 million for Entergy, $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 million for System Energy. |
Entergy Arkansas [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, 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, 2019 are $306 million for Entergy, $41.7 million for Entergy Arkansas, $74 million for Entergy Louisiana, $14.7 million for Entergy Mississippi, $13.9 million for Entergy New Orleans, $81.6 million for Entergy Texas, and $24.6 million for System Energy. Construction expenditures included in accounts payable at December 31, 2018 are $311 million for Entergy, $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 million for System Energy. |
Entergy Louisiana [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, 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, 2019 are $306 million for Entergy, $41.7 million for Entergy Arkansas, $74 million for Entergy Louisiana, $14.7 million for Entergy Mississippi, $13.9 million for Entergy New Orleans, $81.6 million for Entergy Texas, and $24.6 million for System Energy. Construction expenditures included in accounts payable at December 31, 2018 are $311 million for Entergy, $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 million for System Energy. |
Entergy Mississippi [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, 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, 2019 are $306 million for Entergy, $41.7 million for Entergy Arkansas, $74 million for Entergy Louisiana, $14.7 million for Entergy Mississippi, $13.9 million for Entergy New Orleans, $81.6 million for Entergy Texas, and $24.6 million for System Energy. Construction expenditures included in accounts payable at December 31, 2018 are $311 million for Entergy, $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 million for System Energy. |
Entergy New Orleans [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, 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, 2019 are $306 million for Entergy, $41.7 million for Entergy Arkansas, $74 million for Entergy Louisiana, $14.7 million for Entergy Mississippi, $13.9 million for Entergy New Orleans, $81.6 million for Entergy Texas, and $24.6 million for System Energy. Construction expenditures included in accounts payable at December 31, 2018 are $311 million for Entergy, $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 million for System Energy. |
Entergy Texas [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, 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, 2019 are $306 million for Entergy, $41.7 million for Entergy Arkansas, $74 million for Entergy Louisiana, $14.7 million for Entergy Mississippi, $13.9 million for Entergy New Orleans, $81.6 million for Entergy Texas, and $24.6 million for System Energy. Construction expenditures included in accounts payable at December 31, 2018 are $311 million for Entergy, $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 million for System Energy. |
System Energy [Member] | |
Property, Plant, And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, 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, 2019 are $306 million for Entergy, $41.7 million for Entergy Arkansas, $74 million for Entergy Louisiana, $14.7 million for Entergy Mississippi, $13.9 million for Entergy New Orleans, $81.6 million for Entergy Texas, and $24.6 million for System Energy. Construction expenditures included in accounts payable at December 31, 2018 are $311 million for Entergy, $35.7 million for Entergy Arkansas, $104.6 million for Entergy Louisiana, $13.6 million for Entergy Mississippi, $5.8 million for Entergy New Orleans, $55.6 million for Entergy Texas, and $26.3 million for System Energy. |
Variable Interest Entities
Variable Interest Entities | 9 Months Ended |
Sep. 30, 2019 | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 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 facilities and commercial paper borrowings and long-term debt. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $8.6 million in the three months ended September 30, 2019 and in the three months ended September 30, 2018 . System Energy made payments under this arrangement, including interest, of $17.2 million in the nine months ended September 30, 2019 and in the nine months ended September 30, 2018 |
Entergy Arkansas [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 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 facilities and commercial paper borrowings and long-term debt. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $8.6 million in the three months ended September 30, 2019 and in the three months ended September 30, 2018 . System Energy made payments under this arrangement, including interest, of $17.2 million in the nine months ended September 30, 2019 and in the nine months ended September 30, 2018 |
Entergy Louisiana [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 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 facilities and commercial paper borrowings and long-term debt. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $8.6 million in the three months ended September 30, 2019 and in the three months ended September 30, 2018 . System Energy made payments under this arrangement, including interest, of $17.2 million in the nine months ended September 30, 2019 and in the nine months ended September 30, 2018 |
Entergy Mississippi [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 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 facilities and commercial paper borrowings and long-term debt. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $8.6 million in the three months ended September 30, 2019 and in the three months ended September 30, 2018 . System Energy made payments under this arrangement, including interest, of $17.2 million in the nine months ended September 30, 2019 and in the nine months ended September 30, 2018 |
Entergy New Orleans [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 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 facilities and commercial paper borrowings and long-term debt. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $8.6 million in the three months ended September 30, 2019 and in the three months ended September 30, 2018 . System Energy made payments under this arrangement, including interest, of $17.2 million in the nine months ended September 30, 2019 and in the nine months ended September 30, 2018 |
Entergy Texas [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 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 facilities and commercial paper borrowings and long-term debt. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $8.6 million in the three months ended September 30, 2019 and in the three months ended September 30, 2018 . System Energy made payments under this arrangement, including interest, of $17.2 million in the nine months ended September 30, 2019 and in the nine months ended September 30, 2018 |
System Energy [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 17 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 facilities and commercial paper borrowings and long-term debt. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements in the Form 10-K. System Energy made payments under this arrangement, including interest, of $8.6 million in the three months ended September 30, 2019 and in the three months ended September 30, 2018 . System Energy made payments under this arrangement, including interest, of $17.2 million in the nine months ended September 30, 2019 and in the nine months ended September 30, 2018 |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2019 | |
Revenue Recognition | REVENUE RECOGNITION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $1,154,455 $1,138,744 Commercial 722,334 693,760 Industrial 686,122 682,823 Governmental 61,697 60,647 Total billed retail 2,624,608 2,575,974 Sales for resale (a) 63,082 76,247 Other electric revenues (b) 115,352 42,847 Non-customer revenues (c) 9,892 2,819 Total electric revenues 2,812,934 2,697,887 Natural gas 27,269 26,352 Entergy Wholesale Commodities: Competitive businesses sales (a) 282,420 407,763 Non-customer revenues (c) 17,952 (27,683 ) Total competitive businesses 300,372 380,080 Total operating revenues $3,140,575 $3,104,319 Entergy’s total revenues for the nine months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $2,727,367 $2,799,539 Commercial 1,871,416 1,871,380 Industrial 1,928,857 1,904,828 Governmental 172,280 173,949 Total billed retail 6,699,920 6,749,696 Sales for resale (a) 222,834 214,984 Other electric revenues (b) 326,771 289,668 Non-customer revenues (c) 30,158 22,026 Total electric revenues 7,279,683 7,276,374 Natural gas 112,916 112,990 Entergy Wholesale Commodities: Competitive businesses sales (a) 923,288 1,148,460 Non-customer revenues (c) 100,480 (40,854 ) Total competitive businesses 1,023,768 1,107,606 Total operating revenues $8,416,367 $8,496,970 The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Entergy Arkansas [Member] | |
Revenue Recognition | REVENUE RECOGNITION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $1,154,455 $1,138,744 Commercial 722,334 693,760 Industrial 686,122 682,823 Governmental 61,697 60,647 Total billed retail 2,624,608 2,575,974 Sales for resale (a) 63,082 76,247 Other electric revenues (b) 115,352 42,847 Non-customer revenues (c) 9,892 2,819 Total electric revenues 2,812,934 2,697,887 Natural gas 27,269 26,352 Entergy Wholesale Commodities: Competitive businesses sales (a) 282,420 407,763 Non-customer revenues (c) 17,952 (27,683 ) Total competitive businesses 300,372 380,080 Total operating revenues $3,140,575 $3,104,319 Entergy’s total revenues for the nine months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $2,727,367 $2,799,539 Commercial 1,871,416 1,871,380 Industrial 1,928,857 1,904,828 Governmental 172,280 173,949 Total billed retail 6,699,920 6,749,696 Sales for resale (a) 222,834 214,984 Other electric revenues (b) 326,771 289,668 Non-customer revenues (c) 30,158 22,026 Total electric revenues 7,279,683 7,276,374 Natural gas 112,916 112,990 Entergy Wholesale Commodities: Competitive businesses sales (a) 923,288 1,148,460 Non-customer revenues (c) 100,480 (40,854 ) Total competitive businesses 1,023,768 1,107,606 Total operating revenues $8,416,367 $8,496,970 The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Entergy Louisiana [Member] | |
Revenue Recognition | REVENUE RECOGNITION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $1,154,455 $1,138,744 Commercial 722,334 693,760 Industrial 686,122 682,823 Governmental 61,697 60,647 Total billed retail 2,624,608 2,575,974 Sales for resale (a) 63,082 76,247 Other electric revenues (b) 115,352 42,847 Non-customer revenues (c) 9,892 2,819 Total electric revenues 2,812,934 2,697,887 Natural gas 27,269 26,352 Entergy Wholesale Commodities: Competitive businesses sales (a) 282,420 407,763 Non-customer revenues (c) 17,952 (27,683 ) Total competitive businesses 300,372 380,080 Total operating revenues $3,140,575 $3,104,319 Entergy’s total revenues for the nine months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $2,727,367 $2,799,539 Commercial 1,871,416 1,871,380 Industrial 1,928,857 1,904,828 Governmental 172,280 173,949 Total billed retail 6,699,920 6,749,696 Sales for resale (a) 222,834 214,984 Other electric revenues (b) 326,771 289,668 Non-customer revenues (c) 30,158 22,026 Total electric revenues 7,279,683 7,276,374 Natural gas 112,916 112,990 Entergy Wholesale Commodities: Competitive businesses sales (a) 923,288 1,148,460 Non-customer revenues (c) 100,480 (40,854 ) Total competitive businesses 1,023,768 1,107,606 Total operating revenues $8,416,367 $8,496,970 The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Entergy Mississippi [Member] | |
Revenue Recognition | REVENUE RECOGNITION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $1,154,455 $1,138,744 Commercial 722,334 693,760 Industrial 686,122 682,823 Governmental 61,697 60,647 Total billed retail 2,624,608 2,575,974 Sales for resale (a) 63,082 76,247 Other electric revenues (b) 115,352 42,847 Non-customer revenues (c) 9,892 2,819 Total electric revenues 2,812,934 2,697,887 Natural gas 27,269 26,352 Entergy Wholesale Commodities: Competitive businesses sales (a) 282,420 407,763 Non-customer revenues (c) 17,952 (27,683 ) Total competitive businesses 300,372 380,080 Total operating revenues $3,140,575 $3,104,319 Entergy’s total revenues for the nine months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $2,727,367 $2,799,539 Commercial 1,871,416 1,871,380 Industrial 1,928,857 1,904,828 Governmental 172,280 173,949 Total billed retail 6,699,920 6,749,696 Sales for resale (a) 222,834 214,984 Other electric revenues (b) 326,771 289,668 Non-customer revenues (c) 30,158 22,026 Total electric revenues 7,279,683 7,276,374 Natural gas 112,916 112,990 Entergy Wholesale Commodities: Competitive businesses sales (a) 923,288 1,148,460 Non-customer revenues (c) 100,480 (40,854 ) Total competitive businesses 1,023,768 1,107,606 Total operating revenues $8,416,367 $8,496,970 The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Entergy New Orleans [Member] | |
Revenue Recognition | REVENUE RECOGNITION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $1,154,455 $1,138,744 Commercial 722,334 693,760 Industrial 686,122 682,823 Governmental 61,697 60,647 Total billed retail 2,624,608 2,575,974 Sales for resale (a) 63,082 76,247 Other electric revenues (b) 115,352 42,847 Non-customer revenues (c) 9,892 2,819 Total electric revenues 2,812,934 2,697,887 Natural gas 27,269 26,352 Entergy Wholesale Commodities: Competitive businesses sales (a) 282,420 407,763 Non-customer revenues (c) 17,952 (27,683 ) Total competitive businesses 300,372 380,080 Total operating revenues $3,140,575 $3,104,319 Entergy’s total revenues for the nine months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $2,727,367 $2,799,539 Commercial 1,871,416 1,871,380 Industrial 1,928,857 1,904,828 Governmental 172,280 173,949 Total billed retail 6,699,920 6,749,696 Sales for resale (a) 222,834 214,984 Other electric revenues (b) 326,771 289,668 Non-customer revenues (c) 30,158 22,026 Total electric revenues 7,279,683 7,276,374 Natural gas 112,916 112,990 Entergy Wholesale Commodities: Competitive businesses sales (a) 923,288 1,148,460 Non-customer revenues (c) 100,480 (40,854 ) Total competitive businesses 1,023,768 1,107,606 Total operating revenues $8,416,367 $8,496,970 The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Entergy Texas [Member] | |
Revenue Recognition | REVENUE RECOGNITION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $1,154,455 $1,138,744 Commercial 722,334 693,760 Industrial 686,122 682,823 Governmental 61,697 60,647 Total billed retail 2,624,608 2,575,974 Sales for resale (a) 63,082 76,247 Other electric revenues (b) 115,352 42,847 Non-customer revenues (c) 9,892 2,819 Total electric revenues 2,812,934 2,697,887 Natural gas 27,269 26,352 Entergy Wholesale Commodities: Competitive businesses sales (a) 282,420 407,763 Non-customer revenues (c) 17,952 (27,683 ) Total competitive businesses 300,372 380,080 Total operating revenues $3,140,575 $3,104,319 Entergy’s total revenues for the nine months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $2,727,367 $2,799,539 Commercial 1,871,416 1,871,380 Industrial 1,928,857 1,904,828 Governmental 172,280 173,949 Total billed retail 6,699,920 6,749,696 Sales for resale (a) 222,834 214,984 Other electric revenues (b) 326,771 289,668 Non-customer revenues (c) 30,158 22,026 Total electric revenues 7,279,683 7,276,374 Natural gas 112,916 112,990 Entergy Wholesale Commodities: Competitive businesses sales (a) 923,288 1,148,460 Non-customer revenues (c) 100,480 (40,854 ) Total competitive businesses 1,023,768 1,107,606 Total operating revenues $8,416,367 $8,496,970 The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
System Energy [Member] | |
Revenue Recognition | REVENUE RECOGNITION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 19 to the financial statements in the Form 10-K for a discussion of revenue recognition. Entergy’s total revenues for the three months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $1,154,455 $1,138,744 Commercial 722,334 693,760 Industrial 686,122 682,823 Governmental 61,697 60,647 Total billed retail 2,624,608 2,575,974 Sales for resale (a) 63,082 76,247 Other electric revenues (b) 115,352 42,847 Non-customer revenues (c) 9,892 2,819 Total electric revenues 2,812,934 2,697,887 Natural gas 27,269 26,352 Entergy Wholesale Commodities: Competitive businesses sales (a) 282,420 407,763 Non-customer revenues (c) 17,952 (27,683 ) Total competitive businesses 300,372 380,080 Total operating revenues $3,140,575 $3,104,319 Entergy’s total revenues for the nine months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $2,727,367 $2,799,539 Commercial 1,871,416 1,871,380 Industrial 1,928,857 1,904,828 Governmental 172,280 173,949 Total billed retail 6,699,920 6,749,696 Sales for resale (a) 222,834 214,984 Other electric revenues (b) 326,771 289,668 Non-customer revenues (c) 30,158 22,026 Total electric revenues 7,279,683 7,276,374 Natural gas 112,916 112,990 Entergy Wholesale Commodities: Competitive businesses sales (a) 923,288 1,148,460 Non-customer revenues (c) 100,480 (40,854 ) Total competitive businesses 1,023,768 1,107,606 Total operating revenues $8,416,367 $8,496,970 The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Asset Retirement Obligations As
Asset Retirement Obligations Asset Retirement Obligations | 9 Months Ended |
Sep. 30, 2019 | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, 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. The following are updates to that discussion. In the first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $147.5 million |
Entergy Arkansas [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following are updates to that discussion. In the first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $147.5 million |
Entergy Louisiana [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following are updates to that discussion. In the first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $147.5 million |
Entergy Mississippi [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following are updates to that discussion. In the first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $147.5 million |
Entergy New Orleans [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following are updates to that discussion. In the first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $147.5 million |
Entergy Texas [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following are updates to that discussion. In the first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $147.5 million |
System Energy [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. The following are updates to that discussion. In the first quarter 2019, Entergy Arkansas recorded a revision to its estimated decommissioning cost liabilities for ANO 1 and ANO 2 as a result of a revised decommissioning cost study. The revised estimates resulted in a $126.2 million increase in its decommissioning cost liabilities, along with corresponding increases in the related asset retirement cost assets that will be depreciated over the remaining lives of the units. In the second quarter 2019, Entergy Louisiana recorded a revision to its estimated decommissioning cost liability for Waterford 3 as a result of a revised decommissioning cost study. The revised estimate resulted in a $147.5 million |
Leases Leases
Leases Leases | 9 Months Ended |
Sep. 30, 2019 | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard, in January 2019 Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of September 30, 2019, Entergy and the Registrant Subsidiaries held operating and financing leases for fleet vehicles used in operations, real estate, and aircraft. Excluded from this are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases. Leases have remaining terms of one year to 52 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications which would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor; however, due to the nature of the agreements and Entergy’s continuing relationship with the lessor, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the three months ended September 30, 2019: (In Thousands) Operating lease cost $16,086 Financing lease cost: Amortization of right-of-use assets $2,945 Interest on lease liabilities $763 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the three months ended September 30, 2019. Entergy incurred the following total lease costs for the nine months ended September 30, 2019: (In Thousands) Operating lease cost $47,061 Financing lease cost: Amortization of right-of-use assets $10,837 Interest on lease liabilities $2,597 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the financing lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the financing lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at September 30, 2019 are $236 million related to operating leases and $60 million related to financing leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of September 30, 2019: (In Thousands) Current liabilities: Operating leases $52,348 Financing leases $11,482 Non-current liabilities: Operating leases $184,404 Financing leases $53,252 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of Entergy at September 30, 2019: Weighted average remaining lease terms: Operating leases 5.10 Financing leases 6.79 Weighted average discount rate: Operating leases 3.91 % Financing leases 4.67 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % Maturity of the lease liabilities for Entergy as of September 30, 2019 are as follows: Year Operating Leases Financing Leases (In Thousands) Remainder for 2019 $16,088 $3,608 2020 59,965 13,521 2021 53,791 11,973 2022 45,391 10,775 2023 35,050 9,664 Years thereafter 56,906 26,889 Minimum lease payments 267,191 76,430 Less: amount representing interest 30,438 11,696 Present value of net minimum lease payments $236,753 $64,734 Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. On January 1, 2019, Entergy implemented ASU No. 2016-02, “Leases (Topic 842)” along with the practical expedients provided by ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” and ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements.” See Note 1 to the financial statements in the Form 10-K for further discussion of ASU No. 2016-02. Power Purchase Agreements As of December 31, 2018, Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Entergy Arkansas [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard, in January 2019 Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of September 30, 2019, Entergy and the Registrant Subsidiaries held operating and financing leases for fleet vehicles used in operations, real estate, and aircraft. Excluded from this are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases. Leases have remaining terms of one year to 52 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications which would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor; however, due to the nature of the agreements and Entergy’s continuing relationship with the lessor, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the three months ended September 30, 2019: (In Thousands) Operating lease cost $16,086 Financing lease cost: Amortization of right-of-use assets $2,945 Interest on lease liabilities $763 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the three months ended September 30, 2019. Entergy incurred the following total lease costs for the nine months ended September 30, 2019: (In Thousands) Operating lease cost $47,061 Financing lease cost: Amortization of right-of-use assets $10,837 Interest on lease liabilities $2,597 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the financing lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the financing lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at September 30, 2019 are $236 million related to operating leases and $60 million related to financing leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of September 30, 2019: (In Thousands) Current liabilities: Operating leases $52,348 Financing leases $11,482 Non-current liabilities: Operating leases $184,404 Financing leases $53,252 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of Entergy at September 30, 2019: Weighted average remaining lease terms: Operating leases 5.10 Financing leases 6.79 Weighted average discount rate: Operating leases 3.91 % Financing leases 4.67 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % Maturity of the lease liabilities for Entergy as of September 30, 2019 are as follows: Year Operating Leases Financing Leases (In Thousands) Remainder for 2019 $16,088 $3,608 2020 59,965 13,521 2021 53,791 11,973 2022 45,391 10,775 2023 35,050 9,664 Years thereafter 56,906 26,889 Minimum lease payments 267,191 76,430 Less: amount representing interest 30,438 11,696 Present value of net minimum lease payments $236,753 $64,734 Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. On January 1, 2019, Entergy implemented ASU No. 2016-02, “Leases (Topic 842)” along with the practical expedients provided by ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” and ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements.” See Note 1 to the financial statements in the Form 10-K for further discussion of ASU No. 2016-02. Power Purchase Agreements As of December 31, 2018, Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Entergy Louisiana [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard, in January 2019 Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of September 30, 2019, Entergy and the Registrant Subsidiaries held operating and financing leases for fleet vehicles used in operations, real estate, and aircraft. Excluded from this are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases. Leases have remaining terms of one year to 52 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications which would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor; however, due to the nature of the agreements and Entergy’s continuing relationship with the lessor, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the three months ended September 30, 2019: (In Thousands) Operating lease cost $16,086 Financing lease cost: Amortization of right-of-use assets $2,945 Interest on lease liabilities $763 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the three months ended September 30, 2019. Entergy incurred the following total lease costs for the nine months ended September 30, 2019: (In Thousands) Operating lease cost $47,061 Financing lease cost: Amortization of right-of-use assets $10,837 Interest on lease liabilities $2,597 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the financing lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the financing lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at September 30, 2019 are $236 million related to operating leases and $60 million related to financing leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of September 30, 2019: (In Thousands) Current liabilities: Operating leases $52,348 Financing leases $11,482 Non-current liabilities: Operating leases $184,404 Financing leases $53,252 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of Entergy at September 30, 2019: Weighted average remaining lease terms: Operating leases 5.10 Financing leases 6.79 Weighted average discount rate: Operating leases 3.91 % Financing leases 4.67 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % Maturity of the lease liabilities for Entergy as of September 30, 2019 are as follows: Year Operating Leases Financing Leases (In Thousands) Remainder for 2019 $16,088 $3,608 2020 59,965 13,521 2021 53,791 11,973 2022 45,391 10,775 2023 35,050 9,664 Years thereafter 56,906 26,889 Minimum lease payments 267,191 76,430 Less: amount representing interest 30,438 11,696 Present value of net minimum lease payments $236,753 $64,734 Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. On January 1, 2019, Entergy implemented ASU No. 2016-02, “Leases (Topic 842)” along with the practical expedients provided by ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” and ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements.” See Note 1 to the financial statements in the Form 10-K for further discussion of ASU No. 2016-02. Power Purchase Agreements As of December 31, 2018, Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Entergy Mississippi [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard, in January 2019 Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of September 30, 2019, Entergy and the Registrant Subsidiaries held operating and financing leases for fleet vehicles used in operations, real estate, and aircraft. Excluded from this are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases. Leases have remaining terms of one year to 52 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications which would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor; however, due to the nature of the agreements and Entergy’s continuing relationship with the lessor, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the three months ended September 30, 2019: (In Thousands) Operating lease cost $16,086 Financing lease cost: Amortization of right-of-use assets $2,945 Interest on lease liabilities $763 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the three months ended September 30, 2019. Entergy incurred the following total lease costs for the nine months ended September 30, 2019: (In Thousands) Operating lease cost $47,061 Financing lease cost: Amortization of right-of-use assets $10,837 Interest on lease liabilities $2,597 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the financing lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the financing lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at September 30, 2019 are $236 million related to operating leases and $60 million related to financing leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of September 30, 2019: (In Thousands) Current liabilities: Operating leases $52,348 Financing leases $11,482 Non-current liabilities: Operating leases $184,404 Financing leases $53,252 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of Entergy at September 30, 2019: Weighted average remaining lease terms: Operating leases 5.10 Financing leases 6.79 Weighted average discount rate: Operating leases 3.91 % Financing leases 4.67 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % Maturity of the lease liabilities for Entergy as of September 30, 2019 are as follows: Year Operating Leases Financing Leases (In Thousands) Remainder for 2019 $16,088 $3,608 2020 59,965 13,521 2021 53,791 11,973 2022 45,391 10,775 2023 35,050 9,664 Years thereafter 56,906 26,889 Minimum lease payments 267,191 76,430 Less: amount representing interest 30,438 11,696 Present value of net minimum lease payments $236,753 $64,734 Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. On January 1, 2019, Entergy implemented ASU No. 2016-02, “Leases (Topic 842)” along with the practical expedients provided by ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” and ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements.” See Note 1 to the financial statements in the Form 10-K for further discussion of ASU No. 2016-02. Power Purchase Agreements As of December 31, 2018, Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Entergy New Orleans [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard, in January 2019 Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of September 30, 2019, Entergy and the Registrant Subsidiaries held operating and financing leases for fleet vehicles used in operations, real estate, and aircraft. Excluded from this are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases. Leases have remaining terms of one year to 52 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications which would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor; however, due to the nature of the agreements and Entergy’s continuing relationship with the lessor, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the three months ended September 30, 2019: (In Thousands) Operating lease cost $16,086 Financing lease cost: Amortization of right-of-use assets $2,945 Interest on lease liabilities $763 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the three months ended September 30, 2019. Entergy incurred the following total lease costs for the nine months ended September 30, 2019: (In Thousands) Operating lease cost $47,061 Financing lease cost: Amortization of right-of-use assets $10,837 Interest on lease liabilities $2,597 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the financing lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the financing lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at September 30, 2019 are $236 million related to operating leases and $60 million related to financing leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of September 30, 2019: (In Thousands) Current liabilities: Operating leases $52,348 Financing leases $11,482 Non-current liabilities: Operating leases $184,404 Financing leases $53,252 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of Entergy at September 30, 2019: Weighted average remaining lease terms: Operating leases 5.10 Financing leases 6.79 Weighted average discount rate: Operating leases 3.91 % Financing leases 4.67 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % Maturity of the lease liabilities for Entergy as of September 30, 2019 are as follows: Year Operating Leases Financing Leases (In Thousands) Remainder for 2019 $16,088 $3,608 2020 59,965 13,521 2021 53,791 11,973 2022 45,391 10,775 2023 35,050 9,664 Years thereafter 56,906 26,889 Minimum lease payments 267,191 76,430 Less: amount representing interest 30,438 11,696 Present value of net minimum lease payments $236,753 $64,734 Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. On January 1, 2019, Entergy implemented ASU No. 2016-02, “Leases (Topic 842)” along with the practical expedients provided by ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” and ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements.” See Note 1 to the financial statements in the Form 10-K for further discussion of ASU No. 2016-02. Power Purchase Agreements As of December 31, 2018, Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Entergy Texas [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard, in January 2019 Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of September 30, 2019, Entergy and the Registrant Subsidiaries held operating and financing leases for fleet vehicles used in operations, real estate, and aircraft. Excluded from this are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases. Leases have remaining terms of one year to 52 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications which would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor; however, due to the nature of the agreements and Entergy’s continuing relationship with the lessor, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the three months ended September 30, 2019: (In Thousands) Operating lease cost $16,086 Financing lease cost: Amortization of right-of-use assets $2,945 Interest on lease liabilities $763 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the three months ended September 30, 2019. Entergy incurred the following total lease costs for the nine months ended September 30, 2019: (In Thousands) Operating lease cost $47,061 Financing lease cost: Amortization of right-of-use assets $10,837 Interest on lease liabilities $2,597 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the financing lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the financing lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at September 30, 2019 are $236 million related to operating leases and $60 million related to financing leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of September 30, 2019: (In Thousands) Current liabilities: Operating leases $52,348 Financing leases $11,482 Non-current liabilities: Operating leases $184,404 Financing leases $53,252 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of Entergy at September 30, 2019: Weighted average remaining lease terms: Operating leases 5.10 Financing leases 6.79 Weighted average discount rate: Operating leases 3.91 % Financing leases 4.67 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % Maturity of the lease liabilities for Entergy as of September 30, 2019 are as follows: Year Operating Leases Financing Leases (In Thousands) Remainder for 2019 $16,088 $3,608 2020 59,965 13,521 2021 53,791 11,973 2022 45,391 10,775 2023 35,050 9,664 Years thereafter 56,906 26,889 Minimum lease payments 267,191 76,430 Less: amount representing interest 30,438 11,696 Present value of net minimum lease payments $236,753 $64,734 Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. On January 1, 2019, Entergy implemented ASU No. 2016-02, “Leases (Topic 842)” along with the practical expedients provided by ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” and ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements.” See Note 1 to the financial statements in the Form 10-K for further discussion of ASU No. 2016-02. Power Purchase Agreements As of December 31, 2018, Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
System Energy [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy implemented ASU 2016-02, “Leases (Topic 842),” effective January 1, 2019. The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. Concurrent with the implementation of ASU 2016-02, Entergy implemented ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” which provided Entergy the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard, and ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which intended to simplify the transition requirement giving Entergy the option to apply the transition provisions of the new standard at the date of adoption instead of at the earliest comparative period. In implementing these ASUs, Entergy elected the options provided in both ASU 2018-01 and ASU 2018-11. This accounting was applied to all lease agreements using the modified retrospective method, which required an adjustment to retained earnings for the cumulative effect of adopting the standard as of the effective date, and when implemented with ASU 2018-11, allowed Entergy to recognize the leased assets and liabilities on its balance sheet beginning on January 1, 2019 without restating prior periods. In adopting the standard, in January 2019 Entergy recognized right-of-use assets and corresponding lease liabilities totaling approximately $263 million , including $59 million for Entergy Arkansas, $51 million for Entergy Louisiana, $26 million for Entergy Mississippi, $7 million for Entergy New Orleans, and $16 million for Entergy Texas. Implementation of the standards had no material effect on consolidated net income; therefore, no adjustment to retained earnings was recorded. The adoption of the standards had no effect on cash flows. General As of September 30, 2019, Entergy and the Registrant Subsidiaries held operating and financing leases for fleet vehicles used in operations, real estate, and aircraft. Excluded from this are power purchase agreements not meeting the definition of a lease, nuclear fuel leases, and the Grand Gulf sale-leaseback which were determined not to be leases. Leases have remaining terms of one year to 52 years. Real estate leases generally include at least one five-year renewal option; however, renewal is not typically considered reasonably certain unless Entergy or a Registrant Subsidiary makes significant leasehold improvements or other modifications which would hinder its ability to easily move. In certain of the lease agreements for fleet vehicles used in operations, Entergy and the Registrant Subsidiaries provide residual value guarantees to the lessor; however, due to the nature of the agreements and Entergy’s continuing relationship with the lessor, Entergy and the Registrant Subsidiaries expect to renegotiate or refinance the leases prior to conclusion of the lease. As such, Entergy and the Registrant Subsidiaries do not believe it is probable that they will be required to pay anything pertaining to the residual value guarantee, and the lease liabilities and right-of-use assets are measured accordingly. Entergy incurred the following total lease costs for the three months ended September 30, 2019: (In Thousands) Operating lease cost $16,086 Financing lease cost: Amortization of right-of-use assets $2,945 Interest on lease liabilities $763 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the three months ended September 30, 2019. Entergy incurred the following total lease costs for the nine months ended September 30, 2019: (In Thousands) Operating lease cost $47,061 Financing lease cost: Amortization of right-of-use assets $10,837 Interest on lease liabilities $2,597 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by Entergy for leases with all costs included within operating activities on the Consolidated Statements of Cash Flows, except for the financing lease costs which are included in financing activities. The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. The lease costs disclosed above materially approximate the cash flows used by the Registrant Subsidiaries for leases with all costs included within operating activities on the respective Statements of Cash Flows, except for the financing lease costs which are included in financing activities. Entergy has elected to account for short-term leases in accordance with policy options provided by accounting guidance; therefore, there are no related lease liabilities or right-of-use assets for the costs recognized above by Entergy or by its Registrant Subsidiaries in the table below. Included within Property, Plant, and Equipment on Entergy’s consolidated balance sheet at September 30, 2019 are $236 million related to operating leases and $60 million related to financing leases. Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of September 30, 2019: (In Thousands) Current liabilities: Operating leases $52,348 Financing leases $11,482 Non-current liabilities: Operating leases $184,404 Financing leases $53,252 The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of Entergy at September 30, 2019: Weighted average remaining lease terms: Operating leases 5.10 Financing leases 6.79 Weighted average discount rate: Operating leases 3.91 % Financing leases 4.67 % The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % Maturity of the lease liabilities for Entergy as of September 30, 2019 are as follows: Year Operating Leases Financing Leases (In Thousands) Remainder for 2019 $16,088 $3,608 2020 59,965 13,521 2021 53,791 11,973 2022 45,391 10,775 2023 35,050 9,664 Years thereafter 56,906 26,889 Minimum lease payments 267,191 76,430 Less: amount representing interest 30,438 11,696 Present value of net minimum lease payments $236,753 $64,734 Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 In allocating consideration in lease contracts to the lease and non-lease components, Entergy and the Registrant Subsidiaries have made the accounting policy election to combine lease and non-lease components related to fleet vehicles used in operations, fuel storage agreements, and purchased power agreements and to allocate the contract consideration to both lease and non-lease components for real estate leases. In accordance with ASU 2018-11, below is the lease disclosure from Note 10 to the financial statements in the Form 10-K. General As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $47.8 million in 2018, $53.1 million in 2017, and $44.4 million in 2016. As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $2.8 million in 2018, $4 million in 2017, and $3.4 million in 2016 for Entergy Arkansas and $0.4 million in 2018, $0.3 million in 2017, and $0.3 million in 2016 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $0.1 million in 2018, $1.6 million in 2017, and $1.6 million in 2016. On January 1, 2019, Entergy implemented ASU No. 2016-02, “Leases (Topic 842)” along with the practical expedients provided by ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” and ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements.” See Note 1 to the financial statements in the Form 10-K for further discussion of ASU No. 2016-02. Power Purchase Agreements As of December 31, 2018, Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $30.5 million in 2018, $34.1 million in 2017, and $26.1 million in 2016. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million , and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases in December 2013 for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2018 and 2017. As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Dispositions Dispositions
Dispositions Dispositions | 9 Months Ended |
Sep. 30, 2019 | |
Business Acquisition [Line Items] | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | DISPOSITIONS (Entergy Corporation) Vermont Yankee As discussed in Note 14 to the financial statements in the Form 10-K, in January 2019, Entergy transferred 100% of the membership interests in Entergy Nuclear Vermont Yankee, LLC, the owner of the Vermont Yankee plant, to a subsidiary of NorthStar. Entergy Nuclear Vermont Yankee had an outstanding credit facility that was used to pay for dry fuel storage costs. This credit facility was guaranteed by Entergy Corporation. Vermont Yankee Asset Retirement Management, LLC, a subsidiary of Entergy, assumed the obligations under the credit facility. At the closing of the transaction, NorthStar caused Entergy Nuclear Vermont Yankee, renamed NorthStar Vermont Yankee, to issue a $139 million promissory note to Vermont Yankee Asset Retirement Management. The amount of the note included the balance outstanding on the credit facility, as well as borrowing fees and costs incurred by Entergy in connection with the credit facility. Upon closing of the transaction in January 2019, the Vermont Yankee decommissioning trust, along with the decommissioning obligation for the plant, was transferred to NorthStar. The Vermont Yankee spent fuel disposal contract was assigned to NorthStar as part of the transaction. The Vermont Yankee transaction resulted in Entergy generating a net deferred tax asset in January 2019. The deferred tax asset could not be fully realized by Entergy in the first quarter of 2019; accordingly, Entergy accrued a net tax expense of $29 million on the disposition of Vermont Yankee. The transaction also resulted in other charges of $5.4 million ( $4.2 million net-of-tax) in the first quarter 2019. Pilgrim In July 2018, Entergy entered into a purchase and sale agreement with Holtec International to sell to a Holtec subsidiary 100% of the equity interests in Entergy Nuclear Generation Company, the owner of the Pilgrim plant. In August 2019 the NRC approved the sale of the plant to Holtec. The transaction closed in August 2019 for a purchase price of $1,000 (subject to adjustments for net liabilities and other amounts). The sale included the transfer of the Pilgrim nuclear decommissioning trust and obligation for spent fuel management and plant decommissioning. The transaction resulted in a loss of $191 million ( $156 million net-of-tax) in the third quarter 2019. The disposition-date fair value of the nuclear decommissioning trust fund was approximately $1,030 million and the disposition-date fair value of the asset retirement obligation was $837 million . The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. |
Rate And Regulatory Matters Rat
Rate And Regulatory Matters Rate and Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Entergy Arkansas [Member] | FERC December 2015 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy Arkansas [Member] | FERC May 2018 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 |
Entergy Louisiana [Member] | FERC December 2015 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy Louisiana [Member] | FERC May 2018 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 |
Entergy Mississippi [Member] | FERC December 2015 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy Mississippi [Member] | FERC May 2018 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 |
Entergy New Orleans [Member] | FERC December 2015 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy New Orleans [Member] | FERC May 2018 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 |
Entergy Texas [Member] | FERC December 2015 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy Texas [Member] | FERC May 2018 Order [Member] | |
Payments Or Receipts Among Utility Operating Companies Related to System Agreement Proceedings [Table Text Block] | The filing shows the additional following payments and receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas ($4) Entergy Louisiana ($23) Entergy Mississippi $16 Entergy New Orleans $5 Entergy Texas $6 |
Equity (Tables)
Equity (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Schedule Of Earnings Per Share Basic And Diluted | The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements: For the Three Months Ended September 30, 2019 2018 (In Millions, Except Per Share Data) Income Shares $/share Income Shares $/share Basic earnings per share Net income attributable to Entergy Corporation $365.2 198.9 $1.84 $536.4 181.0 $2.96 Average dilutive effect of: Stock options 0.7 (0.01 ) 0.4 (0.01 ) Other equity plans 0.9 (0.01 ) 0.8 (0.01 ) Equity forwards — — 1.5 (0.02 ) Diluted earnings per share $365.2 200.5 $1.82 $536.4 183.7 $2.92 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 1.1 million for the three months ended September 30, 2018 . For the Nine Months Ended September 30, 2019 2018 (In Millions, Except Per Share Data) Income Shares $/share Income Shares $/share Basic earnings per share Net income attributable to Entergy Corporation $856.2 193.9 $4.42 $914.6 180.8 $5.06 Average dilutive effect of: Stock options 0.5 (0.01 ) 0.3 (0.01 ) Other equity plans 0.7 (0.02 ) 0.7 (0.01 ) Equity forwards 0.6 (0.01 ) 0.9 (0.03 ) Diluted earnings per share $856.2 195.7 $4.38 $914.6 182.7 $5.01 The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 0.2 million for the nine months ended September 30, 2019 and approximately 1.1 million for the nine months ended September 30, 2018 . |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2019 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2019 $51,736 ($508,876 ) $26,736 ($430,404 ) Other comprehensive income (loss) before reclassifications (5,190 ) — 8,350 3,160 Amounts reclassified from accumulated other comprehensive income (loss) (14,913 ) 25,464 (3,079 ) 7,472 Net other comprehensive income (loss) for the period (20,103 ) 25,464 5,271 10,632 Ending balance, September 30, 2019 $31,633 ($483,412 ) $32,007 ($419,772 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2018 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2018 ($14,874 ) ($589,926 ) ($8,842 ) ($613,642 ) Other comprehensive income (loss) before reclassifications (40,401 ) — (7,173 ) (47,574 ) Amounts reclassified from accumulated other comprehensive income (loss) 8,397 15,265 5,428 29,090 Net other comprehensive income (loss) for the period (32,004 ) 15,265 (1,745 ) (18,484 ) Ending balance, September 30, 2018 ($46,878 ) ($574,661 ) ($10,587 ) ($632,126 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2019 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Ending balance, December 31, 2018 ($23,135 ) ($531,922 ) ($2,116 ) ($557,173 ) Implementation of accounting standards (7,685 ) — 879 (6,806 ) Beginning balance, January 1, 2019 ($30,820 ) ($531,922 ) ($1,237 ) ($563,979 ) Other comprehensive income (loss) before reclassifications 122,481 — 37,724 160,205 Amounts reclassified from accumulated other comprehensive income (loss) (60,028 ) 48,510 (4,480 ) (15,998 ) Net other comprehensive income (loss) for the period 62,453 48,510 33,244 144,207 Ending balance, September 30, 2019 $31,633 ($483,412 ) $32,007 ($419,772 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2018 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 ($23,531 ) Implementation of accounting standards — — (632,617 ) (632,617 ) Beginning balance, January 1, 2018 ($37,477 ) ($531,099 ) ($87,572 ) ($656,148 ) Other comprehensive income (loss) before reclassifications (31,816 ) — (50,958 ) (82,774 ) Amounts reclassified from accumulated other comprehensive income (loss) 30,171 47,404 13,716 91,291 Net other comprehensive income (loss) for the period (1,645 ) 47,404 (37,242 ) 8,517 Reclassification pursuant to ASU 2018-02 (7,756 ) (90,966 ) 114,227 15,505 Ending balance, September 30, 2018 ($46,878 ) ($574,661 ) ($10,587 ) ($632,126 ) |
Reclassification out of Accumulated Other Comprehensive Income | Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the three months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $18,925 ($10,566 ) Competitive business operating revenues Interest rate swaps (48 ) (63 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 18,877 (10,629 ) (3,964 ) 2,232 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $14,913 ($8,397 ) Pension and other postretirement liabilities Amortization of prior-service credit $5,325 $5,425 (a) Amortization of loss (20,919 ) (24,740 ) (a) Settlement loss (16,630 ) (76 ) (a) Total amortization (32,224 ) (19,391 ) 6,760 4,126 Income taxes Total amortization (net of tax) ($25,464 ) ($15,265 ) Net unrealized investment gain (loss) Realized gain (loss) $4,872 ($8,589 ) Interest and investment income (1,793 ) 3,161 Income taxes Total realized investment gain (loss) (net of tax) $3,079 ($5,428 ) Total reclassifications for the period (net of tax) ($7,472 ) ($29,090 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the nine months ended September 30, 2019 and 2018 are as follows: Amounts reclassified from AOCI Income Statement Location 2019 2018 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $76,129 ($37,913 ) Competitive business operating revenues Interest rate swaps (145 ) (278 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 75,984 (38,191 ) (15,956 ) 8,020 Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $60,028 ($30,171 ) Pension and other postretirement liabilities Amortization of prior-service credit $15,977 $16,278 (a) Amortization of loss (58,888 ) (74,503 ) (a) Settlement loss (18,685 ) (2,098 ) (a) Total amortization (61,596 ) (60,323 ) 13,086 12,919 Income taxes Total amortization (net of tax) ($48,510 ) ($47,404 ) Net unrealized investment gain (loss) Realized gain (loss) $7,088 ($21,703 ) Interest and investment income (2,608 ) 7,987 Income taxes Total realized investment gain (loss) (net of tax) $4,480 ($13,716 ) Total reclassifications for the period (net of tax) $15,998 ($91,291 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
Entergy Louisiana [Member] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2019 and 2018: Pension and Other 2019 2018 (In Thousands) Beginning balance, July 1, ($8,091 ) ($57,451 ) Amounts reclassified from accumulated other (969 ) (500 ) Net other comprehensive income (loss) for the period (969 ) (500 ) Ending balance, September 30, ($9,060 ) ($57,951 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2019 and 2018: Pension and Other 2019 2018 (In Thousands) Beginning balance, January 1, ($6,153 ) ($46,400 ) Amounts reclassified from accumulated other (2,907 ) (1,502 ) Net other comprehensive income (loss) for the period (2,907 ) (1,502 ) Reclassification pursuant to ASU 2018-02 — (10,049 ) Ending balance, September 30, ($9,060 ) ($57,951 ) |
Reclassification out of Accumulated Other Comprehensive Income | Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the three months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,837 $1,934 (a) Amortization of loss (526 ) (1,257 ) (a) Total amortization 1,311 677 (342 ) (177 ) Income taxes Total amortization (net of tax) 969 500 Total reclassifications for the period (net of tax) $969 $500 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the nine months ended September 30, 2019 and 2018 are as follows: Amounts reclassified Income Statement Location 2019 2018 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,511 $5,802 (a) Amortization of loss (1,578 ) (3,770 ) (a) Total amortization 3,933 2,032 (1,026 ) (530 ) Income taxes Total amortization (net of tax) 2,907 1,502 Total reclassifications for the period (net of tax) $2,907 $1,502 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
Revolving Credit Facilities, _2
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Summary Of The Borrowings Outstanding And Capacity Available Under The Facility | Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2019 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $155 $6 $3,339 |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million |
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, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Entergy Arkansas [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million |
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, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Entergy Louisiana [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million |
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, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Entergy Mississippi [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 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, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Entergy New Orleans [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 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, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Entergy Texas [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2019 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2019 Letters of Credit Outstanding as of September 30, 2019 Entergy Arkansas April 2020 $20 million (b) 3.17% $— $— Entergy Arkansas September 2024 $150 million (c) 3.17% $— $— Entergy Louisiana September 2024 $350 million (c) 3.17% $— $— Entergy Mississippi May 2020 $37.5 million (d) 3.54% $— $— Entergy Mississippi May 2020 $35 million (d) 3.54% $— $— Entergy Mississippi May 2020 $10 million (d) 3.54% $— $— Entergy New Orleans November 2021 $25 million (c) 3.32% $— $0.8 million Entergy Texas September 2024 $150 million (c) 3.54% $— $1.3 million (a) The interest rate is the estimated interest rate as of September 30, 2019 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility includes fronting commitments for the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2019 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2019 (a) Entergy Arkansas $25 million 0.70% $1 million Entergy Louisiana $125 million 0.70% $11.7 million Entergy Mississippi $65 million 0.70% $8.1 million Entergy New Orleans $15 million 1.00% $1 million Entergy Texas $50 million 0.70% $26.2 million (a) As of September 30, 2019 , letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. See Note 8 to the financial statements herein for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 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, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
System Energy [Member] | |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of September 30, 2019 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $— Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $150 $46 Entergy Texas $200 $— System Energy $200 $— |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs have commercial paper programs in place. Following is a summary as of September 30, 2019 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2019 (Dollars in Millions) Entergy Arkansas VIE September 2021 $80 3.41% $30.3 Entergy Louisiana River Bend VIE September 2021 $105 3.37% $84.3 Entergy Louisiana Waterford VIE September 2021 $105 3.41% $65.5 System Energy VIE September 2021 $120 3.42% $53.6 (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances, if any, by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of September 30, 2019 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.42% Series J due April 2021 $100 million |
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, 2019 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $17,458,026 $18,628,268 Entergy Arkansas $3,538,384 $3,621,073 Entergy Louisiana $7,344,160 $8,038,675 Entergy Mississippi $1,469,454 $1,586,199 Entergy New Orleans $478,619 $522,688 Entergy Texas $1,938,303 $2,128,842 System Energy $570,001 $554,374 (a) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $190 million at Entergy Arkansas, 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 herein. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2018 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $16,168,312 $15,880,239 Entergy Arkansas $3,225,759 $3,002,627 Entergy Louisiana $6,805,768 $6,834,134 Entergy Mississippi $1,325,750 $1,276,452 Entergy New Orleans $483,704 $491,569 Entergy Texas $1,513,735 $1,528,828 System Energy $630,750 $596,123 (a) The values exclude the lease obligations of $34 million at System Energy and long-term DOE obligations of $187 million at Entergy Arkansas, 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 herein. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) - Entergy Corporation [Member] | 9 Months Ended |
Sep. 30, 2019 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Financial Information For Stock Options | The following table includes financial information for outstanding stock options for the three months ended September 30, 2019 and 2018 : 2019 2018 (In Millions) Compensation expense included in Entergy’s net income $0.9 $1.1 Tax benefit recognized in Entergy’s net income $0.2 $0.2 Compensation cost capitalized as part of fixed assets and materials and supplies $0.4 $0.1 The following table includes financial information for outstanding stock options for the nine months ended September 30, 2019 and 2018 : 2019 2018 (In Millions) Compensation expense included in Entergy’s net income $2.9 $3.3 Tax benefit recognized in Entergy’s net income $0.7 $0.8 Compensation cost capitalized as part of fixed assets and materials and supplies $1.0 $0.5 |
Financial Information For Restricted Stock | The following table includes financial information for other outstanding equity awards for the three months ended September 30, 2019 and 2018 : 2019 2018 (In Millions) Compensation expense included in Entergy’s net income $8.4 $8.5 Tax benefit recognized in Entergy’s net income $2.1 $2.2 Compensation cost capitalized as part of fixed assets and materials and supplies $3.0 $2.5 The following table includes financial information for other outstanding equity awards for the nine months ended September 30, 2019 and 2018 : 2019 2018 (In Millions) Compensation expense included in Entergy’s net income $25.6 $26.0 Tax benefit recognized in Entergy’s net income $6.5 $6.6 Compensation cost capitalized as part of fixed assets and materials and supplies $8.8 $7.3 |
Retirement And Other Postreti_2
Retirement And Other Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |
Reclassification out of Accumulated Other Comprehensive Income, amortization | Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,375 ($50 ) $5,325 Amortization of net gain (loss) (20,686 ) 308 (541 ) (20,919 ) Settlement loss (16,257 ) — (373 ) (16,630 ) ($36,943 ) $5,683 ($964 ) ($32,224 ) Entergy Louisiana Amortization of prior service credit $— $1,837 $— $1,837 Amortization of net gain (loss) (699 ) 174 (1 ) (526 ) ($699 ) $2,011 ($1 ) $1,311 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($99 ) $5,595 ($71 ) $5,425 Amortization of net loss (21,958 ) (1,932 ) (850 ) (24,740 ) Settlement loss — — (76 ) (76 ) ($22,057 ) $3,663 ($997 ) ($19,391 ) Entergy Louisiana Amortization of prior service credit $— $1,934 $— $1,934 Amortization of net loss (867 ) (388 ) (2 ) (1,257 ) ($867 ) $1,546 ($2 ) $677 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $16,125 ($148 ) $15,977 Amortization of net gain (loss) (58,156 ) 923 (1,655 ) (58,888 ) Settlement loss (17,557 ) — (1,128 ) (18,685 ) ($75,713 ) $17,048 ($2,931 ) ($61,596 ) Entergy Louisiana Amortization of prior service credit $— $5,511 $— $5,511 Amortization of net gain (loss) (2,096 ) 522 (4 ) (1,578 ) ($2,096 ) $6,033 ($4 ) $3,933 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($297 ) $16,786 ($211 ) $16,278 Amortization of net loss (65,870 ) (5,801 ) (2,832 ) (74,503 ) Settlement loss — — (2,098 ) (2,098 ) ($66,167 ) $10,985 ($5,141 ) ($60,323 ) Entergy Louisiana Amortization of prior service credit $— $5,802 $— $5,802 Amortization of net loss (2,601 ) (1,164 ) (5 ) (3,770 ) ($2,601 ) $4,638 ($5 ) $2,032 |
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 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $33,553 $38,752 Interest cost on projected benefit obligation 73,261 66,854 Expected return on assets (103,751 ) (110,535 ) Amortization of prior service cost — 99 Amortization of net loss 60,395 68,526 Settlement charges 16,291 — Net pension costs $79,749 $63,696 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $100,766 $116,256 Interest cost on projected benefit obligation 221,114 200,562 Expected return on assets (311,494 ) (331,605 ) Amortization of prior service cost — 297 Amortization of net loss 177,233 205,578 Settlement charges 17,591 — Net pension costs $205,210 $191,088 |
Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the third quarters of 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $4,675 $6,782 Interest cost on accumulated postretirement benefit obligation (APBO) 11,975 12,681 Expected return on assets (9,562 ) (10,373 ) Amortization of prior service credit (8,844 ) (9,251 ) Amortization of net loss 358 3,432 Net other postretirement benefit cost (income) ($1,398 ) $3,271 Entergy’s other postretirement benefit cost (income), including amounts capitalized, for the nine months ended September 30, 2019 and 2018, included the following components: 2019 2018 (In Thousands) Service cost - benefits earned during the period $14,025 $20,346 Interest cost on accumulated postretirement benefit obligation (APBO) 35,925 38,043 Expected return on assets (28,686 ) (31,119 ) Amortization of prior service credit (26,532 ) (27,753 ) Amortization of net loss 1,074 10,296 Net other postretirement benefit cost (income) ($4,194 ) $9,813 |
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 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Entergy Arkansas [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) |
Entergy Arkansas [Member] | Non Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. |
Entergy Louisiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Reclassification out of Accumulated Other Comprehensive Income, amortization | Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $5,375 ($50 ) $5,325 Amortization of net gain (loss) (20,686 ) 308 (541 ) (20,919 ) Settlement loss (16,257 ) — (373 ) (16,630 ) ($36,943 ) $5,683 ($964 ) ($32,224 ) Entergy Louisiana Amortization of prior service credit $— $1,837 $— $1,837 Amortization of net gain (loss) (699 ) 174 (1 ) (526 ) ($699 ) $2,011 ($1 ) $1,311 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($99 ) $5,595 ($71 ) $5,425 Amortization of net loss (21,958 ) (1,932 ) (850 ) (24,740 ) Settlement loss — — (76 ) (76 ) ($22,057 ) $3,663 ($997 ) ($19,391 ) Entergy Louisiana Amortization of prior service credit $— $1,934 $— $1,934 Amortization of net loss (867 ) (388 ) (2 ) (1,257 ) ($867 ) $1,546 ($2 ) $677 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2019 and 2018: 2019 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit $— $16,125 ($148 ) $15,977 Amortization of net gain (loss) (58,156 ) 923 (1,655 ) (58,888 ) Settlement loss (17,557 ) — (1,128 ) (18,685 ) ($75,713 ) $17,048 ($2,931 ) ($61,596 ) Entergy Louisiana Amortization of prior service credit $— $5,511 $— $5,511 Amortization of net gain (loss) (2,096 ) 522 (4 ) (1,578 ) ($2,096 ) $6,033 ($4 ) $3,933 2018 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost) credit ($297 ) $16,786 ($211 ) $16,278 Amortization of net loss (65,870 ) (5,801 ) (2,832 ) (74,503 ) Settlement loss — — (2,098 ) (2,098 ) ($66,167 ) $10,985 ($5,141 ) ($60,323 ) Entergy Louisiana Amortization of prior service credit $— $5,802 $— $5,802 Amortization of net loss (2,601 ) (1,164 ) (5 ) (3,770 ) ($2,601 ) $4,638 ($5 ) $2,032 |
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 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Entergy Louisiana [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) |
Entergy Louisiana [Member] | Non Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. |
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 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Entergy Mississippi [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) |
Entergy Mississippi [Member] | Non Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. |
Entergy New Orleans [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 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Entergy New Orleans [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) |
Entergy New Orleans [Member] | Non Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. |
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 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
Entergy Texas [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) |
Entergy Texas [Member] | Non Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the third quarters of 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $67 $38 $69 $5 $119 2018 $114 $42 $73 $20 $122 Reflected in Entergy Arkansas’s non-qualified pension costs in the third quarter of 2018 were settlement charges of $7 thousand 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 for the nine months ended September 30, 2019 and 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $211 $122 $257 $16 $365 2018 $369 $138 $230 $62 $529 Reflected in Entergy Mississippi’s non-qualified pension costs for the nine months ended September 30, 2019 were settlement charges of $40 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Arkansas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $30 thousand related to the payment of lump sum benefits out of the plan. Reflected in Entergy Texas’s non-qualified pension costs for the nine months ended September 30, 2018 were settlement charges of $139 thousand related to the payment of lump sum benefits out of the plan. |
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 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,260 $7,284 $1,629 $568 $1,350 $1,549 Interest cost on projected benefit obligation 14,175 15,882 4,068 1,873 3,613 3,364 Expected return on assets (20,177 ) (22,651 ) (5,969 ) (2,696 ) (5,862 ) (4,678 ) Amortization of net loss 11,840 11,643 3,104 1,529 2,334 2,850 Net pension cost $11,098 $12,158 $2,832 $1,274 $1,435 $3,085 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,189 $8,446 $1,822 $673 $1,589 $1,776 Interest cost on projected benefit obligation 13,004 14,940 3,769 1,813 3,348 3,227 Expected return on assets (21,851 ) (24,809 ) (6,502 ) (2,993 ) (6,523 ) (4,991 ) Amortization of net loss 13,412 14,450 3,610 1,954 2,626 3,715 Net pension cost $10,754 $13,027 $2,699 $1,447 $1,040 $3,727 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,782 $21,852 $4,887 $1,706 $4,050 $4,649 Interest cost on projected benefit obligation 42,525 47,646 12,204 5,621 10,837 10,091 Expected return on assets (60,529 ) (67,955 ) (17,905 ) (8,089 ) (17,586 ) (14,032 ) Amortization of net loss 35,522 34,929 9,313 4,588 7,002 8,550 Net pension cost $33,300 $36,472 $8,499 $3,826 $4,303 $9,258 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $18,567 $25,338 $5,466 $2,019 $4,767 $5,328 Interest cost on projected benefit obligation 39,012 44,820 11,307 5,439 10,044 9,681 Expected return on assets (65,553 ) (74,427 ) (19,506 ) (8,979 ) (19,569 ) (14,973 ) Amortization of net loss 40,236 43,350 10,830 5,862 7,878 11,145 Net pension cost $32,262 $39,081 $8,097 $4,341 $3,120 $11,181 |
Expected Employer Contributions | Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2019 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2019 pension contributions $27,112 $26,451 $7,701 $1,800 $1,645 $8,285 Pension contributions made through September 2019 $18,222 $18,272 $5,186 $1,237 $1,192 $5,631 Remaining estimated pension contributions to be made in 2019 $8,890 $8,179 $2,515 $563 $453 $2,654 |
System Energy [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for third quarters of 2019 and 2018, included the following components: 2019 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $591 $1,160 $262 $92 $236 $243 Interest cost on APBO 1,807 2,666 670 395 854 476 Expected return on assets (3,991 ) — (1,199 ) (1,237 ) (2,276 ) (697 ) Amortization of prior service credit (1,238 ) (1,837 ) (439 ) (171 ) (561 ) (363 ) Amortization of net (gain) loss 144 (174 ) 181 58 121 89 Net other postretirement benefit cost (income) ($2,687 ) $1,815 ($525 ) ($863 ) ($1,626 ) ($252 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $793 $1,556 $321 $129 $330 $306 Interest cost on APBO 1,997 2,789 683 417 939 500 Expected return on assets (4,342 ) — (1,303 ) (1,313 ) (2,446 ) (783 ) Amortization of prior service credit (1,278 ) (1,934 ) (456 ) (186 ) (579 ) (378 ) Amortization of net loss 289 388 377 34 206 233 Net other postretirement benefit cost (income) ($2,541 ) $2,799 ($378 ) ($919 ) ($1,550 ) ($122 ) The Registrant Subsidiaries’ other postretirement benefit cost (income), including amounts capitalized, for their employees for the nine months ended September 30, 2019 and 2018, included the following components: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,773 $3,480 $786 $276 $708 $729 Interest cost on APBO 5,421 7,998 2,010 1,185 2,562 1,428 Expected return on assets (11,973 ) — (3,597 ) (3,711 ) (6,828 ) (2,091 ) Amortization of prior service credit (3,714 ) (5,511 ) (1,317 ) (513 ) (1,683 ) (1,089 ) Amortization of net (gain) loss 432 (522 ) 543 174 363 267 Net other postretirement benefit cost (income) ($8,061 ) $5,445 ($1,575 ) ($2,589 ) ($4,878 ) ($756 ) 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,379 $4,668 $963 $387 $990 $918 Interest cost on APBO 5,991 8,367 2,049 1,251 2,817 1,500 Expected return on assets (13,026 ) — (3,909 ) (3,939 ) (7,338 ) (2,349 ) Amortization of prior service credit (3,834 ) (5,802 ) (1,368 ) (558 ) (1,737 ) (1,134 ) Amortization of net loss 867 1,164 1,131 102 618 699 Net other postretirement benefit cost (income) ($7,623 ) $8,397 ($1,134 ) ($2,757 ) ($4,650 ) ($366 ) |
Business Segment Information (T
Business Segment Information (Tables) - Entergy Corporation [Member] | 9 Months Ended |
Sep. 30, 2019 | |
Segment Financial Information | Entergy’s segment financial information for the third quarters of 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $2,840,222 $300,363 $9 ($19 ) $3,140,575 Income taxes $71,698 ($30,855 ) ($11,642 ) $— $29,201 Consolidated net income (loss) $581,964 ($140,501 ) ($40,105 ) ($31,899 ) $369,459 2018 Operating revenues $2,724,279 $380,080 $— ($40 ) $3,104,319 Income taxes ($137,035 ) ($135,659 ) ($10,312 ) $— ($283,006 ) Consolidated net income (loss) $507,745 $105,571 ($41,601 ) ($31,897 ) $539,818 Entergy’s segment financial information for the nine months ended September 30, 2019 and 2018 is as follows: Utility Entergy Wholesale Commodities All Other Eliminations Entergy (In Thousands) 2019 Operating revenues $7,392,641 $1,023,757 $11 ($42 ) $8,416,367 Income taxes $81,283 $25,763 ($33,616 ) $— $73,430 Consolidated net income (loss) $1,150,863 ($68,804 ) ($117,725 ) ($95,695 ) $868,639 Total assets as of September 30, 2019 $48,348,371 $4,122,007 $501,983 ($2,466,093 ) $50,506,268 2018 Operating revenues $7,389,477 $1,107,606 $— ($113 ) $8,496,970 Income taxes ($325,134 ) ($166,882 ) ($27,921 ) $— ($519,937 ) Consolidated net income (loss) $1,104,078 $31,456 ($114,962 ) ($95,695 ) $924,877 Total assets as of December 31, 2018 $44,777,167 $5,459,275 $733,366 ($2,694,742 ) $48,275,066 The Entergy Wholesale Commodities business is sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. |
Restructuring and Related Costs [Table Text Block] | Total restructuring charges for the third quarters of 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of July 1, $181 $14 $195 $143 $14 $157 Restructuring costs accrued 14 — 14 43 — 43 Cash paid out 86 — 86 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $8 million in the third quarter 2019 and $155 million in the third quarter 2018 of impairment and other related charges associated with these strategic decisions and transactions. Total restructuring charges for the nine months ended September 30, 2019 and 2018 were comprised of the following: 2019 2018 Employee retention and severance Contracted economic development costs Total Employee retention and severance Contracted economic development costs Total (In Millions) Balance as of January 1, $179 $14 $193 $83 $14 $97 Restructuring costs accrued 70 — 70 103 — 103 Cash paid out 140 — 140 — — — Balance as of September 30, $109 $14 $123 $186 $14 $200 In addition, Entergy Wholesale Commodities incurred $98 million in the nine months ended September 30, 2019 and $297 million in the nine months ended September 30, 2018 of impairment and other related charges associated with these strategic decisions and transactions. |
Risk Management And Fair Valu_2
Risk Management And Fair Values (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Values Of Derivative Instruments | The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 2019 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $35 ($5) $30 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $14 ($2) $12 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $5 ($5) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($3) $6 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Utility Financial transmission rights Prepayments and other $17 ($1) $16 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $4 ($4) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $4 $— $4 Utility Natural gas swaps and options Other non-current liabilities (non-current portion) $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2018 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location 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) $32 ($32) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $7 ($7) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $54 ($33) $21 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $20 ($7) $13 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $4 ($2) $2 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $1 $— $1 Entergy Wholesale Commodities Natural gas swaps and options Other deferred debits and other assets (non-current portion) $2 $— $2 Utility Financial transmission rights Prepayments and other $16 ($1) $15 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $1 ($1) $— Entergy Wholesale Commodities Natural gas swaps and options Other current liabilities $1 $— $1 Utility (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $2 million held and $13 million posted as of September 30, 2019 and $19 million posted as of December 31, 2018. Also excludes letters of credit in the amount of $48 million held as of September 30, 2019 and $4 million posted as of December 31, 2018. |
Derivative Instruments Designated As Cash Flow Hedges On Consolidated Statements Of Income | The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in other comprehensive income Income Statement location Amount of gain reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2019 Electricity swaps and options ($7) Competitive businesses operating revenues $19 2018 Electricity swaps and options ($51) Competitive businesses operating revenues ($11) (a) Before taxes of $4 million and ($2) million for the three months ended September 30, 2019 and 2018, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain recognized in other Income Statement location Amount of gain (loss) (In Millions) (In Millions) 2019 Electricity swaps and options $145 Competitive businesses operating revenues $76 2018 Electricity swaps and options ($40) Competitive businesses operating revenues ($38) (a) Before taxes of $16 million and ($8) million for the nine months ended September 30, 2019 and 2018, respectively |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($2) Financial transmission rights $— Purchased power expense (b) $25 Electricity swaps and options $— (c) Competitive business operating revenues $1 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $— Financial transmission rights $— Purchased power expense (b) $31 Electricity swaps and options $— (c) Competitive business operating revenues ($2) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Amount of gain (loss) recognized in accumulated other comprehensive income Income Statement Amount of gain (loss) (In Millions) (In Millions) 2019 Natural gas swaps and options $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($9) Financial transmission rights $— Purchased power expense (b) $78 Electricity swaps and options $— (c) Competitive business operating revenues $4 2018 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $5 Financial transmission rights $— Purchased power expense (b) $104 Electricity swaps and options $— (c) Competitive business operating revenues $— (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. |
Assets and liabilities at fair value on a recurring basis | The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 . 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. 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $885 $— $— $885 Decommissioning trust funds (a): Equity securities 836 — — 836 Debt securities 1,214 1,754 — 2,968 Common trusts (b) 2,325 Power contracts — — 48 48 Securitization recovery trust account 55 — — 55 Escrow accounts 410 — — 410 Gas hedge contracts — 1 — 1 Financial transmission rights — — 16 16 $3,400 $1,755 $64 $7,544 Liabilities: Gas hedge contracts $4 $1 $— $5 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $424 $— $— $424 Decommissioning trust funds (a): Equity securities 1,686 — — 1,686 Debt securities 1,259 1,625 — 2,884 Common trusts (b) 2,350 Power contracts — — 3 3 Securitization recovery trust account 51 — — 51 Escrow accounts 403 — — 403 Gas hedge contracts — 2 — 2 Financial transmission rights — — 15 15 $3,823 $1,627 $18 $7,818 Liabilities: Power contracts $— $— $34 $34 Gas hedge contracts 1 — — 1 $1 $— $34 $35 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted, and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2019 and 2018 : 2019 2018 Power Contracts Financial transmission rights Power Contracts Financial transmission rights (In Millions) Balance as of July 1, $72 $29 ($25 ) $41 Total gains (losses) for the period (a) Included in earnings 1 — (4 ) — Included in other comprehensive income (7 ) — (51 ) — Included as a regulatory liability/asset — 12 — 19 Settlements (18 ) (25 ) 13 (31 ) Balance as of September 30, $48 $16 ($67 ) $29 (a) Change in unrealized gains or losses for the period included in earnings for derivatives held at the end of the reporting period is ($1.2) million for the three months ended September 30, 2019 and $1.7 million for the three months ended September 30, 2018. 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, 2019 and 2018 : 2019 2018 Power Contracts Financial transmission rights Power Contracts Financial transmission rights (In Millions) Balance as of January 1, ($31 ) $15 ($65 ) $21 Total gains (losses) for the period (a) Included in earnings 4 — (5 ) (1 ) Included in other comprehensive income 145 — (40 ) — Included as a regulatory liability/asset — 44 — 67 Issuances of financial transmission rights — 35 — 46 Settlements (70 ) (78 ) 43 (104 ) Balance as of September 30, $48 $16 ($67 ) $29 (a) Change in unrealized gains or losses for the period included in earnings for derivatives held at the end of the reporting period is ($4.7) million for the nine months ended September 30, 2019 and $1.1 million for the nine months ended September 30, 2018. |
Fair Value Inputs Liabilities Quantitative Information | The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy and significant unobservable inputs to each which cause that classification as of September 30, 2019 : Transaction Type Fair Value Significant Unobservable Inputs Range from Average % Effect on Fair Value (In Millions) (In Millions) Power contracts - electricity swaps $48 Unit contingent discount +/- 4% - 4.75% $4 - $5 |
Entergy Arkansas [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million |
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, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Arkansas 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $76.7 $— $— $76.7 Decommissioning trust funds (a): Equity securities 6.2 — — 6.2 Debt securities 101.4 306.3 — 407.7 Common trusts (b) 631.9 Securitization recovery trust account 7.9 — — 7.9 Financial transmission rights — — 3.9 3.9 $192.2 $306.3 $3.9 $1,134.3 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Decommissioning trust funds (a): Equity securities $4.0 $— $— $4.0 Debt securities 94.8 286.5 — 381.3 Common trusts (b) 526.7 Securitization recovery trust account 4.7 — — 4.7 Financial transmission rights — — 3.4 3.4 $103.5 $286.5 $3.4 $920.1 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2019 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $8.2 $15.6 $2.8 $2.0 $0.6 Gains (losses) included as a regulatory liability/asset (0.8 ) 7.9 0.6 (1.6 ) 6.2 Settlements (3.5 ) (14.4 ) (1.9 ) 0.3 (5.5 ) Balance as of September 30, $3.9 $9.1 $1.5 $0.7 $1.3 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, 2018 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $10.5 $18.2 $4.4 $3.0 $4.7 Gains (losses) included as a regulatory liability/asset 10.9 7.6 4.7 1.1 (5.0 ) Settlements (10.1 ) (13.8 ) (5.4 ) (2.0 ) 0.4 Balance as of September 30, $11.3 $12.0 $3.7 $2.1 $0.1 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2019 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $3.4 $8.3 $2.2 $1.3 ($0.5 ) Issuances of financial transmission rights 9.6 18.7 3.9 2.7 0.1 Gains (losses) included as a regulatory liability/asset 6.3 23.0 0.6 (1.1 ) 15.3 Settlements (15.4 ) (40.9 ) (5.2 ) (2.2 ) (13.6 ) Balance as of September 30, $3.9 $9.1 $1.5 $0.7 $1.3 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, 2018 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $3.0 $10.2 $2.1 $2.2 $3.4 Issuances of financial transmission rights 11.8 20.0 4.5 3.7 6.1 Gains (losses) included as a regulatory liability/asset 16.6 39.0 20.1 6.7 (15.0 ) Settlements (20.1 ) (57.2 ) (23.0 ) (10.5 ) 5.6 Balance as of September 30, $11.3 $12.0 $3.7 $2.1 $0.1 |
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, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million |
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, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Louisiana 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $127.8 $— $— $127.8 Decommissioning trust funds (a): Equity securities 5.3 — — 5.3 Debt securities 183.7 409.7 — 593.4 Common trusts (b) 886.9 Escrow accounts 294.5 — — 294.5 Securitization recovery trust account 10.1 — — 10.1 Gas hedge contracts 0.1 1.0 — 1.1 Financial transmission rights — — 9.1 9.1 $621.5 $410.7 $9.1 $1,928.2 Liabilities: Gas hedge contracts $2.2 $1.4 $— $3.6 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $43.1 $— $— $43.1 Decommissioning trust funds (a): Equity securities 13.3 — — 13.3 Debt securities 162.0 370.9 — 532.9 Common trusts (b) 738.8 Escrow accounts 289.5 — — 289.5 Securitization recovery trust account 3.6 — — 3.6 Gas hedge contracts — 1.9 — 1.9 Financial transmission rights — — 8.3 8.3 $511.5 $372.8 $8.3 $1,631.4 Liabilities: Gas hedge contracts $0.7 $0.4 $— $1.1 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2019 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $8.2 $15.6 $2.8 $2.0 $0.6 Gains (losses) included as a regulatory liability/asset (0.8 ) 7.9 0.6 (1.6 ) 6.2 Settlements (3.5 ) (14.4 ) (1.9 ) 0.3 (5.5 ) Balance as of September 30, $3.9 $9.1 $1.5 $0.7 $1.3 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, 2018 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $10.5 $18.2 $4.4 $3.0 $4.7 Gains (losses) included as a regulatory liability/asset 10.9 7.6 4.7 1.1 (5.0 ) Settlements (10.1 ) (13.8 ) (5.4 ) (2.0 ) 0.4 Balance as of September 30, $11.3 $12.0 $3.7 $2.1 $0.1 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2019 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $3.4 $8.3 $2.2 $1.3 ($0.5 ) Issuances of financial transmission rights 9.6 18.7 3.9 2.7 0.1 Gains (losses) included as a regulatory liability/asset 6.3 23.0 0.6 (1.1 ) 15.3 Settlements (15.4 ) (40.9 ) (5.2 ) (2.2 ) (13.6 ) Balance as of September 30, $3.9 $9.1 $1.5 $0.7 $1.3 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, 2018 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $3.0 $10.2 $2.1 $2.2 $3.4 Issuances of financial transmission rights 11.8 20.0 4.5 3.7 6.1 Gains (losses) included as a regulatory liability/asset 16.6 39.0 20.1 6.7 (15.0 ) Settlements (20.1 ) (57.2 ) (23.0 ) (10.5 ) 5.6 Balance as of September 30, $11.3 $12.0 $3.7 $2.1 $0.1 |
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, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million |
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, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Mississippi 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $98.9 $— $— $98.9 Escrow accounts 33.0 — — 33.0 Financial transmission rights — — 1.5 1.5 $131.9 $— $1.5 $133.4 Liabilities: Gas hedge contracts $1.1 $— $— $1.1 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $36.9 $— $— $36.9 Escrow accounts 32.4 — — 32.4 Financial transmission rights — — 2.2 2.2 $69.3 $— $2.2 $71.5 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2019 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $8.2 $15.6 $2.8 $2.0 $0.6 Gains (losses) included as a regulatory liability/asset (0.8 ) 7.9 0.6 (1.6 ) 6.2 Settlements (3.5 ) (14.4 ) (1.9 ) 0.3 (5.5 ) Balance as of September 30, $3.9 $9.1 $1.5 $0.7 $1.3 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, 2018 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $10.5 $18.2 $4.4 $3.0 $4.7 Gains (losses) included as a regulatory liability/asset 10.9 7.6 4.7 1.1 (5.0 ) Settlements (10.1 ) (13.8 ) (5.4 ) (2.0 ) 0.4 Balance as of September 30, $11.3 $12.0 $3.7 $2.1 $0.1 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2019 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $3.4 $8.3 $2.2 $1.3 ($0.5 ) Issuances of financial transmission rights 9.6 18.7 3.9 2.7 0.1 Gains (losses) included as a regulatory liability/asset 6.3 23.0 0.6 (1.1 ) 15.3 Settlements (15.4 ) (40.9 ) (5.2 ) (2.2 ) (13.6 ) Balance as of September 30, $3.9 $9.1 $1.5 $0.7 $1.3 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, 2018 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $3.0 $10.2 $2.1 $2.2 $3.4 Issuances of financial transmission rights 11.8 20.0 4.5 3.7 6.1 Gains (losses) included as a regulatory liability/asset 16.6 39.0 20.1 6.7 (15.0 ) Settlements (20.1 ) (57.2 ) (23.0 ) (10.5 ) 5.6 Balance as of September 30, $11.3 $12.0 $3.7 $2.1 $0.1 |
Entergy New Orleans [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million |
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, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy New Orleans 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Securitization recovery trust account $5.3 $— $— $5.3 Escrow accounts 82.2 — — 82.2 Financial transmission rights — — 0.7 0.7 $87.5 $— $0.7 $88.2 Liabilities: Gas hedge contracts $0.1 $— $— $0.1 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $19.7 $— $— $19.7 Securitization recovery trust account 2.2 — — 2.2 Escrow accounts 80.9 — — 80.9 Financial transmission rights — — 1.3 1.3 $102.8 $— $1.3 $104.1 Liabilities: Gas hedge contracts $0.1 $— $— $0.1 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2019 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $8.2 $15.6 $2.8 $2.0 $0.6 Gains (losses) included as a regulatory liability/asset (0.8 ) 7.9 0.6 (1.6 ) 6.2 Settlements (3.5 ) (14.4 ) (1.9 ) 0.3 (5.5 ) Balance as of September 30, $3.9 $9.1 $1.5 $0.7 $1.3 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, 2018 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $10.5 $18.2 $4.4 $3.0 $4.7 Gains (losses) included as a regulatory liability/asset 10.9 7.6 4.7 1.1 (5.0 ) Settlements (10.1 ) (13.8 ) (5.4 ) (2.0 ) 0.4 Balance as of September 30, $11.3 $12.0 $3.7 $2.1 $0.1 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2019 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $3.4 $8.3 $2.2 $1.3 ($0.5 ) Issuances of financial transmission rights 9.6 18.7 3.9 2.7 0.1 Gains (losses) included as a regulatory liability/asset 6.3 23.0 0.6 (1.1 ) 15.3 Settlements (15.4 ) (40.9 ) (5.2 ) (2.2 ) (13.6 ) Balance as of September 30, $3.9 $9.1 $1.5 $0.7 $1.3 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, 2018 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $3.0 $10.2 $2.1 $2.2 $3.4 Issuances of financial transmission rights 11.8 20.0 4.5 3.7 6.1 Gains (losses) included as a regulatory liability/asset 16.6 39.0 20.1 6.7 (15.0 ) Settlements (20.1 ) (57.2 ) (23.0 ) (10.5 ) 5.6 Balance as of September 30, $11.3 $12.0 $3.7 $2.1 $0.1 |
Entergy Texas [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of September 30, 2019 are shown in the table below. Certain investments are subject to master netting agreements and are presented on the balance sheets 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) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.1 $— $0.1 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets (non-current portion) $1.0 $— $1.0 Entergy Louisiana Financial transmission rights Prepayments and other $4.0 ($0.1) $3.9 Entergy Arkansas Financial transmission rights Prepayments and other $9.1 $— $9.1 Entergy Louisiana Financial transmission rights Prepayments and other $1.5 $— $1.5 Entergy Mississippi Financial transmission rights Prepayments and other $0.7 $— $0.7 Entergy New Orleans Financial transmission rights Prepayments and other $1.7 ($0.4) $1.3 Entergy Texas Liabilities: Natural gas swaps and options Other current liabilities $2.2 $— $2.2 Entergy Louisiana Natural gas swaps and options Other non-current liabilities $1.4 $— $1.4 Entergy Louisiana Natural gas swaps Other current liabilities $1.1 $— $1.1 Entergy Mississippi Natural gas swaps Other current liabilities $0.1 $— $0.1 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, 2018 are as follows: Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Registrant (In Millions) Assets: Natural gas swaps and options Prepayments and other $0.3 $— $0.3 Entergy Louisiana Natural gas swaps and options Other deferred debits and other assets $1.6 $— $1.6 Entergy Louisiana Financial transmission rights Prepayments and other $3.6 ($0.2) $3.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.4 ($0.1) $8.3 Entergy Louisiana Financial transmission rights Prepayments and other $2.2 $— $2.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.3 $— $1.3 Entergy New Orleans Liabilities: Financial transmission rights Other current liabilities $0.9 ($1.4) ($0.5) Entergy Texas Natural gas swaps and options Other current liabilities $1.1 $— $1.1 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 $— $0.1 Entergy New Orleans (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets (d) As of September 30, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2018, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi, and $4.1 million |
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, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.1) (a) Entergy New Orleans Financial transmission rights Purchased power expense $3.5 (b) Entergy Arkansas Financial transmission rights Purchased power expense $14.4 (b) Entergy Louisiana Financial transmission rights Purchased power expense $1.9 (b) Entergy Mississippi Financial transmission rights Purchased power expense ($0.3) (b) Entergy New Orleans Financial transmission rights Purchased power expense $5.5 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy Mississippi Financial transmission rights Purchased power expense $10.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $13.8 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.4 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.0 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($0.4) (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2019 and 2018 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2019 Natural gas swaps and options Fuel, fuel-related expenses, and gas purchased for resale ($3.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.5) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.1 (a) Entergy New Orleans Financial transmission rights Purchased power expense $15.4 (b) Entergy Arkansas Financial transmission rights Purchased power expense $40.9 (b) Entergy Louisiana Financial transmission rights Purchased power expense $5.3 (b) Entergy Mississippi Financial transmission rights Purchased power expense $2.2 (b) Entergy New Orleans Financial transmission rights Purchased power expense $13.6 (b) Entergy Texas 2018 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $4.2 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.9 (a) Entergy Mississippi Financial transmission rights Purchased power expense $20.1 (b) Entergy Arkansas Financial transmission rights Purchased power expense $57.2 (b) Entergy Louisiana Financial transmission rights Purchased power expense $23.0 (b) Entergy Mississippi Financial transmission rights Purchased power expense $10.5 (b) Entergy New Orleans Financial transmission rights Purchased power expense ($5.6) (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps and options are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps and options are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Texas 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $92.3 $— $— $92.3 Securitization recovery trust account 31.6 — — 31.6 Financial transmission rights — — 1.3 1.3 $123.9 $— $1.3 $125.2 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets : Securitization recovery trust account $40.2 $— $— $40.2 Liabilities: Financial transmission rights $— $— $0.5 $0.5 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended September 30, 2019 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $8.2 $15.6 $2.8 $2.0 $0.6 Gains (losses) included as a regulatory liability/asset (0.8 ) 7.9 0.6 (1.6 ) 6.2 Settlements (3.5 ) (14.4 ) (1.9 ) 0.3 (5.5 ) Balance as of September 30, $3.9 $9.1 $1.5 $0.7 $1.3 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, 2018 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $10.5 $18.2 $4.4 $3.0 $4.7 Gains (losses) included as a regulatory liability/asset 10.9 7.6 4.7 1.1 (5.0 ) Settlements (10.1 ) (13.8 ) (5.4 ) (2.0 ) 0.4 Balance as of September 30, $11.3 $12.0 $3.7 $2.1 $0.1 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the nine months ended September 30, 2019 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $3.4 $8.3 $2.2 $1.3 ($0.5 ) Issuances of financial transmission rights 9.6 18.7 3.9 2.7 0.1 Gains (losses) included as a regulatory liability/asset 6.3 23.0 0.6 (1.1 ) 15.3 Settlements (15.4 ) (40.9 ) (5.2 ) (2.2 ) (13.6 ) Balance as of September 30, $3.9 $9.1 $1.5 $0.7 $1.3 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, 2018 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $3.0 $10.2 $2.1 $2.2 $3.4 Issuances of financial transmission rights 11.8 20.0 4.5 3.7 6.1 Gains (losses) included as a regulatory liability/asset 16.6 39.0 20.1 6.7 (15.0 ) Settlements (20.1 ) (57.2 ) (23.0 ) (10.5 ) 5.6 Balance as of September 30, $11.3 $12.0 $3.7 $2.1 $0.1 |
System Energy [Member] | |
Assets and liabilities at fair value on a recurring basis | System Energy 2019 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $164.2 $— $— $164.2 Decommissioning trust funds (a): Equity securities 5.8 — — 5.8 Debt securities 206.0 189.3 — 395.3 Common trusts (b) 601.2 $376.0 $189.3 $— $1,166.5 2018 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $95.6 $— $— $95.6 Decommissioning trust funds (a): Equity securities 4.4 — — 4.4 Debt securities 224.5 139.7 — 364.2 Common trusts (b) 500.9 $324.5 $139.7 $— $965.1 |
Decommissioning Trust Funds (Ta
Decommissioning Trust Funds (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Securities Held | The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities (a) $2,462 $114 $2 2018 Debt Securities (a) $2,495 $19 $35 (a) Debt securities presented herein do not include the $506 million and $389 million of debt securities held in the wholly-owned registered investment company as of September 30, 2019 and December 31, 2018 , respectively, which are not accounted for as available-for-sale. |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $236 $2 More than 12 months 67 — Total $303 $2 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $652 $9 More than 12 months 782 26 Total $1,434 $35 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $165 $199 1 year - 5 years 870 1,066 5 years - 10 years 636 544 10 years - 15 years 89 77 15 years - 20 years 98 78 20 years+ 604 531 Total $2,462 $2,495 |
Entergy Arkansas [Member] | |
Securities Held | The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $407.7 $11.8 $0.9 2018 Debt Securities $381.3 $0.6 $8.2 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $51.5 $0.8 More than 12 months 21.0 0.1 Total $72.5 $0.9 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $65.8 $0.5 More than 12 months 231.1 7.7 Total $296.9 $8.2 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $50.3 $32.5 1 year - 5 years 120.4 170.3 5 years - 10 years 144.5 114.0 10 years - 15 years 24.3 10.3 15 years - 20 years 14.2 8.1 20 years+ 54.0 46.1 Total $407.7 $381.3 |
Entergy Louisiana [Member] | |
Securities Held | The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $593.4 $32.6 $0.3 2018 Debt Securities $532.9 $4.1 $6.0 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $49.3 $0.3 More than 12 months 12.9 — Total $62.2 $0.3 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $170.1 $2.1 More than 12 months 145.8 3.9 Total $315.9 $6.0 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $56.6 $31.1 1 year - 5 years 138.2 130.5 5 years - 10 years 118.4 111.0 10 years - 15 years 34.7 29.0 15 years - 20 years 45.0 37.1 20 years+ 200.5 194.2 Total $593.4 $532.9 |
System Energy [Member] | |
Securities Held | The available-for-sale securities held as of September 30, 2019 and December 31, 2018 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2019 Debt Securities $395.3 $19.7 $0.1 2018 Debt Securities $364.2 $2.9 $5.8 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of September 30, 2019 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $38.8 $0.1 More than 12 months 4.3 — Total $43.1 $0.1 The fair value and gross unrealized losses of available-for-sale debt securities, summarized by length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2018 : Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $89.7 $2.4 More than 12 months 79.8 3.4 Total $169.5 $5.8 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of available-for-sale debt securities, summarized by contractual maturities, as of September 30, 2019 and December 31, 2018 are as follows: 2019 2018 (In Millions) Less than 1 year $11.2 $22.8 1 year - 5 years 187.7 188.0 5 years - 10 years 92.7 73.4 10 years - 15 years 3.0 5.2 15 years - 20 years 5.9 10.2 20 years+ 94.8 64.6 Total $395.3 $364.2 |
Income Taxes Income Taxes (Tabl
Income Taxes Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Reduction to Regulatory Liability Due to Return of Unprotected Excess ADIT [Table Text Block] | The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 |
Entergy Arkansas [Member] | |
Reduction to Regulatory Liability Due to Return of Unprotected Excess ADIT [Table Text Block] | The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 |
Entergy Louisiana [Member] | |
Reduction to Regulatory Liability Due to Return of Unprotected Excess ADIT [Table Text Block] | The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 |
Entergy Mississippi [Member] | |
Reduction to Regulatory Liability Due to Return of Unprotected Excess ADIT [Table Text Block] | The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 |
Entergy New Orleans [Member] | |
Reduction to Regulatory Liability Due to Return of Unprotected Excess ADIT [Table Text Block] | The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 |
Entergy Texas [Member] | |
Reduction to Regulatory Liability Due to Return of Unprotected Excess ADIT [Table Text Block] | The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 |
System Energy [Member] | |
Reduction to Regulatory Liability Due to Return of Unprotected Excess ADIT [Table Text Block] | The return of unprotected excess accumulated deferred income taxes reduced Entergy’s and the Registrant Subsidiaries’ regulatory liability for income taxes as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In Millions) Entergy $96 $283 $219 $562 Entergy Arkansas $41 $153 $99 $260 Entergy Louisiana $17 $55 $31 $86 Entergy Mississippi $— $32 $— $161 Entergy New Orleans $7 $9 $9 $9 Entergy Texas $31 $— $73 $— System Entergy $— $34 $7 $46 |
Revenue Recognition Revenue Rec
Revenue Recognition Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Disaggregation of Revenue [Table Text Block] | Entergy’s total revenues for the three months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $1,154,455 $1,138,744 Commercial 722,334 693,760 Industrial 686,122 682,823 Governmental 61,697 60,647 Total billed retail 2,624,608 2,575,974 Sales for resale (a) 63,082 76,247 Other electric revenues (b) 115,352 42,847 Non-customer revenues (c) 9,892 2,819 Total electric revenues 2,812,934 2,697,887 Natural gas 27,269 26,352 Entergy Wholesale Commodities: Competitive businesses sales (a) 282,420 407,763 Non-customer revenues (c) 17,952 (27,683 ) Total competitive businesses 300,372 380,080 Total operating revenues $3,140,575 $3,104,319 Entergy’s total revenues for the nine months ended September 30, 2019 and 2018 are as follows: 2019 2018 (In Thousands) Utility: Residential $2,727,367 $2,799,539 Commercial 1,871,416 1,871,380 Industrial 1,928,857 1,904,828 Governmental 172,280 173,949 Total billed retail 6,699,920 6,749,696 Sales for resale (a) 222,834 214,984 Other electric revenues (b) 326,771 289,668 Non-customer revenues (c) 30,158 22,026 Total electric revenues 7,279,683 7,276,374 Natural gas 112,916 112,990 Entergy Wholesale Commodities: Competitive businesses sales (a) 923,288 1,148,460 Non-customer revenues (c) 100,480 (40,854 ) Total competitive businesses 1,023,768 1,107,606 Total operating revenues $8,416,367 $8,496,970 |
Entergy Arkansas [Member] | |
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Entergy Louisiana [Member] | |
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Entergy Mississippi [Member] | |
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Entergy New Orleans [Member] | |
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Entergy Texas [Member] | |
Disaggregation of Revenue [Table Text Block] | The Registrant Subsidiaries’ total revenues for the three months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $253,627 $426,012 $177,785 $81,468 $215,563 Commercial 162,564 277,071 131,596 56,430 94,673 Industrial 156,024 376,595 44,054 8,613 100,836 Governmental 5,907 18,731 12,551 19,030 5,478 Total billed retail 578,122 1,098,409 365,986 165,541 416,550 Sales for resale (a) 58,953 81,664 9,569 6,876 16,704 Other electric revenues (b) 47,085 37,521 20,499 2,537 9,177 Non-customer revenues (c) 3,366 4,280 2,678 1,784 446 Total electric revenues 687,526 1,221,874 398,732 176,738 442,877 Natural gas — 9,803 — 17,466 — Total operating revenues $687,526 $1,231,677 $398,732 $194,204 $442,877 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $250,081 $408,680 $170,258 $86,014 $223,711 Commercial 119,950 272,985 126,987 62,428 111,409 Industrial 126,079 393,884 44,383 9,655 108,823 Governmental 4,445 17,566 11,488 20,364 6,785 Total billed retail 500,555 1,093,115 353,116 178,461 450,728 Sales for resale (a) 60,338 71,634 7,876 4,863 23,290 Other electric revenues (b) 4,446 34,220 4,079 (1,107 ) 2,735 Non-customer revenues (c) 3,060 (2,691 ) 2,663 1,947 478 Total electric revenues 568,399 1,196,278 367,734 184,164 477,231 Natural gas — 10,334 — 16,018 — Total operating revenues $568,399 $1,206,612 $367,734 $200,182 $477,231 The Registrant Subsidiaries’ total revenues for the nine months ended September 30, 2019 and 2018 were as follows: 2019 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $621,208 $980,443 $423,395 $192,165 $510,156 Commercial 412,697 715,983 331,785 156,152 254,799 Industrial 396,515 1,108,193 120,490 24,353 279,306 Governmental 15,776 53,547 33,108 53,916 15,933 Total billed retail 1,446,196 2,858,166 908,778 426,586 1,060,194 Sales for resale (a) 213,038 248,827 19,377 25,680 48,251 Other electric revenues (b) 107,599 130,269 47,887 8,093 37,329 Non-customer revenues (c) 9,434 15,564 7,671 4,414 1,157 Total electric revenues 1,776,267 3,252,826 983,713 464,773 1,146,931 Natural gas — 44,498 — 68,418 — Total operating revenues $1,776,267 $3,297,324 $983,713 $533,191 $1,146,931 2018 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Residential $644,735 $972,113 $451,331 $208,821 $522,539 Commercial 334,325 719,652 354,799 171,224 291,380 Industrial 335,529 1,114,898 133,012 26,493 294,896 Governmental 12,859 51,581 33,788 56,503 19,218 Total billed retail 1,327,448 2,858,244 972,930 463,041 1,128,033 Sales for resale (a) 179,637 272,690 21,645 24,390 71,828 Other electric revenues (b) 98,571 124,749 35,055 7,404 28,468 Non-customer revenues (c) 8,372 7,390 7,536 4,749 1,328 Total electric revenues 1,614,028 3,263,073 1,037,166 499,584 1,229,657 Natural gas — 45,671 — 67,319 — Total operating revenues $1,614,028 $3,308,744 $1,037,166 $566,903 $1,229,657 (a) Sales for resale and competitive businesses sales include day-ahead sales of energy in a market administered by an ISO. These sales represent financially binding commitments for the sale of physical energy the next day. These sales are adjusted to actual power generated and delivered in the real time market. Given the short duration of these transactions, Entergy does not consider them to be derivatives subject to fair value adjustments, and includes them as part of customer revenues. (b) Other electric revenues consist primarily of transmission and ancillary services provided to participants of an ISO-administered market and unbilled revenue. (c) Non-customer revenues include the settlement of financial hedges, occasional sales of inventory, alternative revenue programs, provisions for revenue subject to refund, and late fees. |
Leases Leases (Tables)
Leases Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Lease, Cost | Entergy incurred the following total lease costs for the three months ended September 30, 2019: (In Thousands) Operating lease cost $16,086 Financing lease cost: Amortization of right-of-use assets $2,945 Interest on lease liabilities $763 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the three months ended September 30, 2019. Entergy incurred the following total lease costs for the nine months ended September 30, 2019: (In Thousands) Operating lease cost $47,061 Financing lease cost: Amortization of right-of-use assets $10,837 Interest on lease liabilities $2,597 Of the lease costs disclosed above, Entergy had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. |
Lease, Liabilities | The following lease-related liabilities are recorded within the respective Other lines on Entergy’s consolidated balance sheet as of September 30, 2019: (In Thousands) Current liabilities: Operating leases $52,348 Financing leases $11,482 Non-current liabilities: Operating leases $184,404 Financing leases $53,252 |
Lease, Terms and Discount Rate | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of Entergy at September 30, 2019: Weighted average remaining lease terms: Operating leases 5.10 Financing leases 6.79 Weighted average discount rate: Operating leases 3.91 % Financing leases 4.67 % |
Lease, Maturity | Maturity of the lease liabilities for Entergy as of September 30, 2019 are as follows: Year Operating Leases Financing Leases (In Thousands) Remainder for 2019 $16,088 $3,608 2020 59,965 13,521 2021 53,791 11,973 2022 45,391 10,775 2023 35,050 9,664 Years thereafter 56,906 26,889 Minimum lease payments 267,191 76,430 Less: amount representing interest 30,438 11,696 Present value of net minimum lease payments $236,753 $64,734 |
Operating And Capital Leases Future Minimum Payments Due | As of December 31, 2018, Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2019 $94,043 $2,887 2020 82,191 2,887 2021 75,147 2,887 2022 60,808 2,887 2023 47,391 2,887 Years thereafter 88,004 16,117 Minimum lease payments 447,584 30,552 Less: Amount representing interest — 8,555 Present value of net minimum lease payments $447,584 $21,997 |
Purchase Power Agreement Minimum Lease Payments | The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. |
Entergy Arkansas [Member] | |
Lease, Cost | The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. |
Lease, Assets | Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 |
Lease, Liabilities | The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 |
Lease, Terms and Discount Rate | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % |
Lease, Maturity | Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 |
Operating And Capital Leases Future Minimum Payments Due | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 |
Schedule of Rent Expense | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Entergy Louisiana [Member] | |
Lease, Cost | The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. |
Lease, Assets | Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 |
Lease, Liabilities | The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 |
Lease, Terms and Discount Rate | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % |
Lease, Maturity | Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 |
Operating And Capital Leases Future Minimum Payments Due | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 |
Schedule of Rent Expense | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Entergy Mississippi [Member] | |
Lease, Cost | The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. |
Lease, Assets | Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 |
Lease, Liabilities | The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 |
Lease, Terms and Discount Rate | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % |
Lease, Maturity | Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 |
Operating And Capital Leases Future Minimum Payments Due | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 |
Schedule of Rent Expense | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Entergy New Orleans [Member] | |
Lease, Cost | The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. |
Lease, Assets | Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 |
Lease, Liabilities | The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 |
Lease, Terms and Discount Rate | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % |
Lease, Maturity | Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 |
Operating And Capital Leases Future Minimum Payments Due | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 |
Schedule of Rent Expense | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Entergy Texas [Member] | |
Lease, Cost | The Registrant Subsidiaries incurred the following lease costs for the three months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $3,306 $3,003 $1,752 $349 $1,074 Financing lease cost: Amortization of right-of-use assets $621 $1,014 $369 $178 $335 Interest on lease liabilities $105 $161 $65 $29 $54 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the three months ended September 30, 2019. The Registrant Subsidiaries incurred the following lease costs for the nine months ended September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating lease cost $9,724 $8,854 $5,220 $1,058 $3,135 Financing lease cost: Amortization of right-of-use assets $2,448 $4,014 $1,408 $696 $965 Interest on lease liabilities $408 $612 $241 $114 $153 Of the lease costs disclosed above, Entergy Louisiana had $15 thousand in short-term lease costs for the nine months ended September 30, 2019. |
Lease, Assets | Included within Utility Plant on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019 are the following amounts: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Operating leases $49,503 $34,248 $18,149 $3,894 $13,074 Financing leases $11,094 $16,795 $6,994 $2,913 $5,515 |
Lease, Liabilities | The following lease-related liabilities are recorded within the respective Other lines on the Registrant Subsidiaries’ respective balance sheets at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities: Operating leases $10,662 $9,969 $6,137 $1,138 $3,427 Financing leases $2,600 $3,860 $1,473 $626 $1,252 Non-current liabilities: Operating leases $38,881 $24,289 $12,254 $2,755 $9,689 Financing leases $8,665 $12,925 $5,521 $2,286 $4,221 |
Lease, Terms and Discount Rate | The following information contains the weighted average remaining lease term in years and the weighted average discount rate for the operating and financing leases of the Registrant Subsidiaries at September 30, 2019: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas Weighted average remaining lease terms: Operating leases 6.09 4.28 4.65 3.99 4.49 Financing leases 5.44 5.41 5.41 5.72 5.25 Weighted average discount rate: Operating leases 3.75 % 3.74 % 3.77 % 3.94 % 3.86 % Financing leases 3.75 % 3.75 % 3.71 % 3.93 % 3.84 % |
Lease, Maturity | Maturity of the lease liabilities for the Registrant Subsidiaries as of September 30, 2019 are as follows: Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $3,168 $2,863 $1,968 $332 $1,022 2020 11,756 10,518 6,066 1,196 4,014 2021 9,911 8,787 4,937 939 3,279 2022 7,613 6,068 3,503 659 2,338 2023 6,341 4,079 1,376 497 1,994 Years thereafter 16,421 4,702 2,642 729 2,193 Minimum lease payments 55,210 37,017 20,492 4,352 14,840 Less: amount representing interest 5,667 2,759 2,101 459 1,724 Present value of net minimum lease payments $49,543 $34,258 $18,391 $3,893 $13,116 Financing Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Remainder of 2019 $713 $1,135 $429 $204 $375 2020 2,654 4,191 1,655 660 1,364 2021 2,258 3,536 1,490 549 1,171 2022 1,969 3,096 1,297 499 965 2023 1,728 2,635 1,078 451 827 Years thereafter 2,905 3,818 1,740 881 1,316 Minimum lease payments 12,227 18,411 7,689 3,244 6,018 Less: amount representing interest 961 1,626 695 332 545 Present value of net minimum lease payments $11,266 $16,785 $6,994 $2,912 $5,473 |
Operating And Capital Leases Future Minimum Payments Due | As of December 31, 2018, the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2019 $20,421 $25,970 $9,344 $2,493 $5,744 2020 13,918 21,681 8,763 2,349 4,431 2021 11,931 19,514 7,186 1,901 3,625 2022 9,458 15,756 5,675 1,314 2,218 2023 7,782 12,092 2,946 1,043 1,561 Years thereafter 23,297 22,003 4,417 2,323 2,726 Minimum lease payments $86,807 $117,016 $38,331 $11,423 $20,305 |
Schedule of Rent Expense | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Purchase Power Agreement Minimum Lease Payments | The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2019 $31,159 $31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Minimum lease payments $105,824 $105,824 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. |
System Energy [Member] | |
Schedule of Rent Expense | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2018 $6.2 $20.2 $4.6 $2.5 $3.1 $1.9 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 |
Present Value Of Future Minimum Lease Payments Sale Leaseback Transactions | As of December 31, 2018, System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments that are recorded as long-term debt, as follows, which reflects the effect of the December 2013 renewal: Amount (In Thousands) 2019 $17,188 2020 17,188 2021 17,188 2022 17,188 2023 17,188 Years thereafter 223,437 Total 309,377 Less: Amount representing interest 275,025 Present value of net minimum lease payments $34,352 |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | |
Aug. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | |
Loss Contingencies [Line Items] | |||
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | $ 2,369 | $ 0 | |
Entergy Louisiana [Member] | |||
Loss Contingencies [Line Items] | |||
Litigation Settlement, Amount Awarded from Other Party | $ 19,000 | ||
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 12,000 | ||
Damages awarded for previously recorded operation and maintenance | 5,000 | ||
Damages awarded for previously recorded nuclear fuel expense | $ 2,000 | ||
System Energy [Member] | |||
Loss Contingencies [Line Items] | |||
Minimum Rate Of Equity Capital | 35.00% |
Rate And Regulatory Matters (Na
Rate And Regulatory Matters (Narrative) (Details) - USD ($) | Jul. 31, 2019 | Oct. 31, 2019 | Sep. 30, 2019 | Aug. 31, 2019 | Jul. 31, 2019 | Jun. 30, 2019 | May 31, 2019 | Apr. 30, 2019 | Mar. 31, 2019 | Jan. 31, 2019 | Dec. 31, 2018 | Jul. 31, 2018 | Dec. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jul. 27, 2019 | Apr. 23, 2018 | Mar. 31, 2019 |
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Impairment of Long-Lived Assets Held-for-use | $ 225,175,000 | $ 210,263,000 | |||||||||||||||||||||
Deferred Fuel Cost | $ 0 | $ 27,251,000 | 0 | $ 27,251,000 | |||||||||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 118,700,000 | ||||||||||||||||||||||
Rate Increase Included in Formula Rate Plan | 109,500,000 | ||||||||||||||||||||||
Earned return on common equity | 10.61% | ||||||||||||||||||||||
Formula rate plan revenue decrease | $ 8,900,000 | ||||||||||||||||||||||
Entergy Louisiana [Member] | Revenue Subject to Refund [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
LPSC staff recommended fuel adjustment clause refund including interest | $ 7,300,000 | ||||||||||||||||||||||
Entergy Louisiana calculated fuel adjustment clause refund including interest | $ 4,200,000 | ||||||||||||||||||||||
Entergy Mississippi [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Deferred Fuel Cost | 0 | 8,016,000 | $ 0 | $ 8,016,000 | |||||||||||||||||||
Authorized return on common equity | 6.93% | 7.13% | |||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 6.94% | ||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 10,100,000 | ||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 11,000,000 | ||||||||||||||||||||||
Earned return on common equity | 7.81% | ||||||||||||||||||||||
Monthly storm damage provision | $ 1,750,000 | ||||||||||||||||||||||
Authorized Storm Damage Reserve Balance | 15,000,000 | 15,000,000 | |||||||||||||||||||||
Balance At Which Storm Damage Accrual Will Return To Current Level | $ 10,000,000 | 10,000,000 | |||||||||||||||||||||
Entergy Mississippi [Member] | Revenue Subject to Refund [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Provision recorded to reflect change in formula rate plan revenues compared to allowed rate of return | 9,300,000 | $ 9,300,000 | |||||||||||||||||||||
True-up to provision recorded to reflect change in formula rate plan revenues compared to allowed rate of return | $ 900,000 | $ 800,000 | $ 800,000 | $ 800,000 | |||||||||||||||||||
Entergy Mississippi [Member] | Subsequent Event [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 36,800,000 | ||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 32,800,000 | ||||||||||||||||||||||
Entergy New Orleans [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 30,000,000 | ||||||||||||||||||||||
Entergy New Orleans [Member] | Electricity [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 27,000,000 | ||||||||||||||||||||||
Entergy New Orleans [Member] | Natural Gas [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 3,000,000 | ||||||||||||||||||||||
Entergy New Orleans [Member] | Maximum [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 10.50% | ||||||||||||||||||||||
Entergy New Orleans [Member] | Subsequent Event [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 39,000,000 | ||||||||||||||||||||||
Entergy New Orleans [Member] | Subsequent Event [Member] | Electricity [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 36,000,000 | ||||||||||||||||||||||
Entergy New Orleans [Member] | Subsequent Event [Member] | Natural Gas [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 3,000,000 | ||||||||||||||||||||||
Entergy New Orleans [Member] | Subsequent Event [Member] | Maximum [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 9.35% | ||||||||||||||||||||||
Public Utilities, Approved Equity Capital Structure, Percentage | 50.00% | ||||||||||||||||||||||
Entergy Texas [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Jurisdictional eligible fuel and purchased power expenses, net of credits | 1,600,000,000 | ||||||||||||||||||||||
Fuel and purchased power under-recovery balance including interest | 25,800,000 | 25,800,000 | $ 25,800,000 | ||||||||||||||||||||
Requested recovery of internal and external litigation expenses previously paid or incurred | $ 7,200,000 | ||||||||||||||||||||||
Entergy Texas [Member] | Minimum [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Recommended disallowance of requested recovery of expenses previously paid or incurred | $ 3,200,000 | ||||||||||||||||||||||
Entergy Texas [Member] | Maximum [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Recommended disallowance of requested recovery of expenses previously paid or incurred | $ 4,200,000 | ||||||||||||||||||||||
Entergy Texas [Member] | Subsequent Event [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Recommended disallowance of requested recovery of expenses previously paid or incurred | $ 1,400,000 | ||||||||||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Deferred Fuel Cost | 0 | 19,235,000 | 0 | 19,235,000 | |||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 9.75% | ||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 15,300,000 | ||||||||||||||||||||||
Refund to Customers Credited Through Formula Rate Plan | 46,600,000 | ||||||||||||||||||||||
Regulatory asset related to scrubber costs incurred at White Bluff plant | $ 11,200,000 | $ 11,200,000 | |||||||||||||||||||||
Energy Cost Recovery Rider Rate Per kWh | $ 0.01882 | ||||||||||||||||||||||
Retail balance over-recovery | 100,000 | 100,000 | |||||||||||||||||||||
Receipts from utility operating companies pursuant to FERC order | $ 4,200,000 | ||||||||||||||||||||||
Entergy Arkansas [Member] | Revenue Subject to Refund [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Provision recorded to reflect change in formula rate plan revenues compared to allowed rate of return | 35,100,000 | 35,100,000 | |||||||||||||||||||||
True-up to provision recorded to reflect change in formula rate plan revenues compared to allowed rate of return | 11,500,000 | 11,500,000 | |||||||||||||||||||||
Entergy Arkansas [Member] | Subsequent Event [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 14,000,000 | ||||||||||||||||||||||
Projected Revenue Deficiency | $ 61,900,000 | ||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 10,100,000 | ||||||||||||||||||||||
Regulatory charge recorded to write-off White Bluff scrubber regulatory asset | $ 11,200,000 | ||||||||||||||||||||||
Energy Cost Recovery Rider Rate Per kWh | $ 0.01462 | ||||||||||||||||||||||
System Energy [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
FERC requested authorized return on equity for System Energy in return on equity proceeding | 9.89% | ||||||||||||||||||||||
Public utilities requested return on equity percentage, median 2nd refund period | 9.65% | ||||||||||||||||||||||
Public utilities requested return on equity percentage, midpoint 2nd refund period | 9.74% | ||||||||||||||||||||||
Modified public utilities requested return on equity percentage based on benchmarks, median 2nd refund period | 9.91% | ||||||||||||||||||||||
Modified public utilities requested return on equity percentage based on benchmarks, midpoint 2nd refund period | 10.30% | ||||||||||||||||||||||
LPSC requested authorized return on equity for System Energy in return on equity proceeding | 7.97% | 7.81% | |||||||||||||||||||||
APSC/MPSC revised argued authorized return on equity for System Energy in return on equity proceeding | 8.32% | 8.26% | |||||||||||||||||||||
FERC requested authorized return on equity for System Energy in return on equity proceeding, rebuttal | 9.63% | 9.40% | |||||||||||||||||||||
APSC/MPSC requested authorized return on equity for System Energy in return on equity proceeding | 8.41% | 8.24% | |||||||||||||||||||||
Annual renewal lease payments on Grand Gulf Sale-Leaseback | 17,200,000 | ||||||||||||||||||||||
LPSC requested rate reduction for ADIT associated with uncertain tax positions resulting from Grand Gulf sale-leaseback | 334,500,000 | $ 334,500,000 | |||||||||||||||||||||
FERC staff argued over-recovery in depreciation expense for capital additions | $ 32,000,000 | ||||||||||||||||||||||
LPSC requested refund of cost of capital additions resulting from Grand Gulf sale-leaseback | $ 274,800,000 | $ 274,800,000 | |||||||||||||||||||||
Ratepayer savings due to Grand Gulf sale-leaseback initial and renewal terms | $ 850,000,000 | ||||||||||||||||||||||
FERC requested rate reduction for ADIT associated with uncertain tax positions resulting from Grand Gulf sale-leaseback | $ 602,000,000 | ||||||||||||||||||||||
System Energy [Member] | Minimum [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 10.32% | 10.10% | |||||||||||||||||||||
System Energy [Member] | Maximum [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 10.69% | 10.70% | |||||||||||||||||||||
Percent Equity in Proposed Common Equity Ratio | 37.00% | ||||||||||||||||||||||
Percent Debt in Proposed Common Equity Ratio | 63.00% | ||||||||||||||||||||||
LPSC Argued Equity Capital Structure, Percentage | 49.00% | ||||||||||||||||||||||
APSC and MPSC Argued Equity Capital Structure, Percentage | 35.98% | ||||||||||||||||||||||
APSC and MPSC Alternative Argued Equity Capital Structure, Percentage | 46.75% | ||||||||||||||||||||||
FERC Percent Equity in Proposed Common Equity Ratio | 46.74% | ||||||||||||||||||||||
FERC Percent Debt in Proposed Common Equity Ratio | 53.26% | ||||||||||||||||||||||
System Energy [Member] | Subsequent Event [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
LPSC requested rate reduction for ADIT associated with uncertain tax positions resulting from Grand Gulf sale-leaseback | 512,000,000 | ||||||||||||||||||||||
FERC requested rate reduction for ADIT associated with uncertain tax positions resulting from Grand Gulf sale-leaseback | $ 511,000,000 | ||||||||||||||||||||||
Grand Gulf [Member] | System Energy [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 11.50% | ||||||||||||||||||||||
FERC May 2018 Order [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Receipts from utility operating companies pursuant to FERC order | 23,000,000 | ||||||||||||||||||||||
FERC May 2018 Order [Member] | Entergy Arkansas [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Receipts from utility operating companies pursuant to FERC order | $ 4,000,000 | ||||||||||||||||||||||
Distribution Cost Recovery Factor Rider [Member] | Entergy Texas [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 3,200,000 | ||||||||||||||||||||||
Transmission Cost Recovery Factor Rider [Member] | Entergy Texas [Member] | |||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 19,400,000 | $ 2,700,000 | |||||||||||||||||||||
Revenue increase resulting from incremental revenue | $ 16,700,000 | ||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 2,700,000 |
Rate And Regulatory Matters R_2
Rate And Regulatory Matters Rate and Regulatory Matters (Payments/Receipts Among The Utility Operating Companies) (Details) - USD ($) $ in Millions | 1 Months Ended | |
Jul. 31, 2018 | Feb. 29, 2016 | |
Entergy Arkansas [Member] | ||
Receipts from utility operating companies pursuant to FERC order | $ (4.2) | |
FERC May 2018 Order [Member] | Entergy Arkansas [Member] | ||
Receipts from utility operating companies pursuant to FERC order | (4) | |
FERC May 2018 Order [Member] | Entergy Louisiana [Member] | ||
Receipts from utility operating companies pursuant to FERC order | (23) | |
FERC May 2018 Order [Member] | Entergy Mississippi [Member] | ||
Payments to utility operating companies pursuant to FERC order | 16 | |
FERC May 2018 Order [Member] | Entergy New Orleans [Member] | ||
Payments to utility operating companies pursuant to FERC order | 5 | |
FERC May 2018 Order [Member] | Entergy Texas [Member] | ||
Payments to utility operating companies pursuant to FERC order | $ 6 | |
FERC December 2015 Order [Member] | Entergy Arkansas [Member] | ||
Payments to utility operating companies pursuant to FERC order | $ 2 | |
FERC December 2015 Order [Member] | Entergy Louisiana [Member] | ||
Payments to utility operating companies pursuant to FERC order | 6 | |
FERC December 2015 Order [Member] | Entergy Mississippi [Member] | ||
Receipts from utility operating companies pursuant to FERC order | (4) | |
FERC December 2015 Order [Member] | Entergy New Orleans [Member] | ||
Receipts from utility operating companies pursuant to FERC order | (1) | |
FERC December 2015 Order [Member] | Entergy Texas [Member] | ||
Receipts from utility operating companies pursuant to FERC order | $ (3) |
Equity (Narrative) (Details)
Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | Oct. 25, 2019 | Sep. 30, 2019 | May 31, 2019 | Dec. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Oct. 15, 2024 | Jan. 01, 2019 | Jun. 30, 2018 | Jan. 01, 2018 |
Equity [Abstract] | ||||||||||||
Stock Options Excluded From Diluted Common Shares Outstanding Calculation | 1,100,000 | 200,000 | 1,100,000 | |||||||||
Forward Contract Indexed to Issuer's Equity, Indexed Shares | 15,300,000 | |||||||||||
Proceeds from Issuance of Common Stock | $ 608,000 | $ 500,000 | $ 607,650 | $ 0 | ||||||||
Shares, Issued | 1,582,916 | 1,582,916 | 1,582,916 | |||||||||
Common stock dividend (in dollars per share) | $ 0.91 | $ 0.89 | $ 2.73 | $ 2.67 | ||||||||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | $ 6,806 | $ 632,617 | ||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | $ (56,360) | ||||||||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | $ 15,505 | |||||||||||
Accounting Standards Update 2017-12 [Member] | ||||||||||||
Equity [Abstract] | ||||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 8,000 | |||||||||||
Accounting Standards Update 2017-08 [Member] | ||||||||||||
Equity [Abstract] | ||||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 1,000 | |||||||||||
Common Stock [Member] | ||||||||||||
Equity [Abstract] | ||||||||||||
Forward Contract Indexed to Issuer's Equity, Shares | 8,448,171 | 6,834,221 | ||||||||||
Subsequent Event [Member] | ||||||||||||
Equity [Abstract] | ||||||||||||
Common stock dividend (in dollars per share) | $ 0.93 | |||||||||||
Preferred Stock, Five Point Three Seven Five Percent, Series A [Member] | Entergy Texas [Member] | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 35,000 | $ 35,000 | $ 35,000 | |||||||||
Preferred Stock, Dividend Rate, Percentage | 5.375% | 5.375% | ||||||||||
Preferred Stock, Shares Issued | 1,400,000 | 1,400,000 | 1,400,000 | |||||||||
Equity [Abstract] | ||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 25 | $ 25 | $ 25 | |||||||||
Preferred Stock, Five Point Three Seven Five Percent, Series A [Member] | Subsequent Event [Member] | Entergy Texas [Member] | ||||||||||||
Equity [Abstract] | ||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 25 |
Equity (Schedule Of Earnings Pe
Equity (Schedule Of Earnings Per Share, Basic And Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract] | ||||
Stock options, Shares | 700,000 | 400,000 | 500,000 | 300,000 |
Stock options $/share | $ (0.01) | $ (0.01) | $ (0.01) | $ (0.01) |
Restricted stock, Shares | 900,000 | 800,000 | 700,000 | 700,000 |
Restricted stock $/share | $ (0.01) | $ (0.01) | $ (0.02) | $ (0.01) |
Incremental Common Shares Attributable to Dilutive Effect of Equity Forward Agreements | 0 | 1,500,000 | 600,000 | 900,000 |
Average Dilutive Effect Of Equity Forwards | $ 0 | $ (0.02) | $ (0.01) | $ (0.03) |
Basic earnings per share | ||||
Net Income (Loss) Available to Common Stockholders, Basic | $ 365,240 | $ 536,379 | $ 856,201 | $ 914,560 |
Net Income (Loss) Available to Common Stockholders, Diluted | $ 365,200 | $ 536,400 | $ 856,200 | $ 914,600 |
Net Income Attributable to Entergy Corporation, Shares | 198,932,387 | 181,002,303 | 193,876,557 | 180,845,440 |
Net Income Attributable to Entergy Corporation, $/share | $ 1.84 | $ 2.96 | $ 4.42 | $ 5.06 |
Diluted earnings per share, Shares | 200,492,935 | 183,664,583 | 195,685,851 | 182,692,325 |
Diluted earnings per share $/share | $ 1.82 | $ 2.92 | $ 4.38 | $ 5.01 |
Equity (Accumulated Other Compr
Equity (Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jan. 01, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 0 | $ (56,360) | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Accumulated other comprehensive loss | $ (419,772) | $ (430,404) | $ (632,126) | $ (613,642) | $ (419,772) | $ (632,126) | $ (557,173) | $ (23,531) | ||||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | (6,806) | (632,617) | ||||||||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 3,160 | (47,574) | 160,205 | (82,774) | ||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 7,472 | 29,090 | (15,998) | 91,291 | ||||||||
Other comprehensive income (loss) | 10,632 | 120,748 | $ 12,827 | (18,484) | (52,144) | $ 79,145 | 144,207 | 8,517 | ||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | (16,538) | |||||||||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | 15,505 | |||||||||||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Accumulated other comprehensive loss | 32,007 | 26,736 | (10,587) | (8,842) | 32,007 | (10,587) | (2,116) | 545,045 | ||||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | 879 | (632,617) | ||||||||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 8,350 | (7,173) | 37,724 | (50,958) | ||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (3,079) | 5,428 | (4,480) | 13,716 | ||||||||
Other comprehensive income (loss) | 5,271 | (1,745) | 33,244 | (37,242) | ||||||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | 114,227 | |||||||||||
Accumulated Other Comprehensive Income [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (6,806) | (632,617) | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Other comprehensive income (loss) | 10,632 | 120,748 | 12,827 | (18,484) | (52,144) | 79,145 | ||||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | 15,505 | |||||||||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Accumulated other comprehensive loss | (483,412) | (508,876) | (574,661) | (589,926) | (483,412) | (574,661) | (531,922) | (531,099) | ||||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | 0 | 0 | ||||||||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | 0 | 0 | 0 | ||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 25,464 | 15,265 | 48,510 | 47,404 | ||||||||
Other comprehensive income (loss) | 25,464 | 15,265 | 48,510 | 47,404 | ||||||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | (90,966) | |||||||||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Accumulated other comprehensive loss | 31,633 | 51,736 | (46,878) | (14,874) | 31,633 | (46,878) | (23,135) | (37,477) | ||||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | (7,685) | 0 | ||||||||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (5,190) | (40,401) | 122,481 | (31,816) | ||||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (14,913) | 8,397 | (60,028) | 30,171 | ||||||||
Other comprehensive income (loss) | (20,103) | (32,004) | 62,453 | (1,645) | ||||||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | (7,756) | |||||||||||
Entergy Louisiana [Member] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Accumulated other comprehensive loss | (9,060) | (9,060) | (6,153) | |||||||||
Other comprehensive income (loss) | (969) | (969) | (969) | (500) | (501) | (501) | (2,907) | (1,502) | ||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | (3,787) | |||||||||||
Entergy Louisiana [Member] | Accumulated Other Comprehensive Income [Member] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Other comprehensive income (loss) | (969) | (969) | $ (969) | (500) | (501) | (501) | ||||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | $ (10,049) | |||||||||||
Entergy Louisiana [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Accumulated other comprehensive loss | (9,060) | $ (8,091) | (57,951) | $ (57,451) | (9,060) | (57,951) | $ (6,153) | $ (46,400) | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (969) | (500) | (2,907) | (1,502) | ||||||||
Other comprehensive income (loss) | $ (969) | $ (500) | (2,907) | (1,502) | ||||||||
Tax Cuts and Jobs Act, Reclassification from AOCI resulting from stranded tax effects | $ 0 | $ (10,049) | ||||||||||
Restatement Adjustment [Member] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Accumulated other comprehensive loss | (563,979) | (656,148) | ||||||||||
Restatement Adjustment [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Accumulated other comprehensive loss | (1,237) | (87,572) | ||||||||||
Restatement Adjustment [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Accumulated other comprehensive loss | (531,922) | (531,099) | ||||||||||
Restatement Adjustment [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Accumulated other comprehensive loss | $ (30,820) | $ (37,477) |
Equity (Reclassification out of
Equity (Reclassification out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,140,575 | $ 3,104,319 | $ 8,416,367 | $ 8,496,970 | ||||
Other Nonoperating Income (Expense) | (50,086) | (43,591) | (160,614) | (123,439) | ||||
Income taxes (benefits) | (29,201) | 283,006 | (73,430) | 519,937 | ||||
Consolidated net income | 369,459 | $ 240,533 | $ 258,646 | 539,818 | $ 248,860 | $ 136,200 | 868,639 | 924,877 |
Competitive Businesses [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 300,372 | 380,080 | 1,023,768 | 1,107,606 | ||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Consolidated net income | (7,472) | (29,090) | 15,998 | (91,291) | ||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Other Nonoperating Income (Expense) | (48) | (63) | (145) | (278) | ||||
INCOME (LOSS) BEFORE INCOME TAXES | 18,877 | (10,629) | 75,984 | (38,191) | ||||
Income taxes (benefits) | (3,964) | 2,232 | (15,956) | 8,020 | ||||
Consolidated net income | 14,913 | (8,397) | 60,028 | (30,171) | ||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Competitive Businesses [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 18,925 | (10,566) | 76,129 | (37,913) | ||||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Realized gain (loss) | 4,872 | (8,589) | 7,088 | (21,703) | ||||
Income taxes (benefits) | (1,793) | 3,161 | (2,608) | 7,987 | ||||
Consolidated net income | 3,079 | (5,428) | 4,480 | (13,716) | ||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Amortization of prior-service credit | 5,325 | 5,425 | 15,977 | 16,278 | ||||
Amortization of loss | (20,919) | (24,740) | (58,888) | (74,503) | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | (16,630) | (76) | (18,685) | (2,098) | ||||
INCOME (LOSS) BEFORE INCOME TAXES | (32,224) | (19,391) | (61,596) | (60,323) | ||||
Income taxes (benefits) | 6,760 | 4,126 | 13,086 | 12,919 | ||||
Consolidated net income | (25,464) | (15,265) | (48,510) | (47,404) | ||||
Entergy Louisiana [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,231,677 | 1,206,612 | 3,297,324 | 3,308,744 | ||||
Other Nonoperating Income (Expense) | (15,067) | (25,782) | (79,717) | (56,217) | ||||
Income taxes (benefits) | (54,964) | (2,944) | (109,900) | 30,430 | ||||
Consolidated net income | 255,260 | $ 183,084 | $ 127,633 | 218,308 | $ 184,358 | $ 111,593 | 565,977 | 514,260 |
Entergy Louisiana [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||
Amortization of prior-service credit | 1,837 | 1,934 | 5,511 | 5,802 | ||||
Amortization of loss | (526) | (1,257) | (1,578) | (3,770) | ||||
INCOME (LOSS) BEFORE INCOME TAXES | 1,311 | 677 | 3,933 | 2,032 | ||||
Income taxes (benefits) | (342) | (177) | (1,026) | (530) | ||||
Consolidated net income | $ 969 | $ 500 | $ 2,907 | $ 1,502 |
Revolving Credit Facilities, _3
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | |||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Feb. 28, 2019 | Jan. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | |||||||
Short-term borrowings | $ 1,917,788 | $ 1,917,788 | $ 1,942,339 | ||||
Amount of Facility | 3,500,000 | 3,500,000 | |||||
Amount Drawn/ Outstanding | $ 155,000 | $ 155,000 | |||||
Commercial Paper Program [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt, weighted average interest rate | 2.88% | 2.88% | |||||
Commercial Paper program limit | $ 2,000,000 | $ 2,000,000 | |||||
Commercial Paper Amount Outstanding | 1,918,000 | 1,918,000 | |||||
Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount of Facility | 3,500,000 | 3,500,000 | |||||
Amount of total borrowing capacity against which fronting commitments exist | 20,000 | $ 20,000 | |||||
Line of credit facility, commitment fee percentage | 0.225% | ||||||
Line of Credit Facility, Interest Rate During Period | 3.94% | ||||||
Entergy Arkansas [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Authorized Short Term Borrowings | 250,000 | $ 250,000 | |||||
Amount of total borrowing capacity against which fronting commitments exist | 5,000 | 5,000 | |||||
Entergy Arkansas [Member] | Mortgage Bonds Four Point Two Percent Series Due April 2049 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from Issuance of Debt | $ 350,000 | ||||||
Debt instrument, interest rate, stated percentage | 4.20% | ||||||
Entergy Louisiana [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Authorized Short Term Borrowings | 450,000 | 450,000 | |||||
Amount of total borrowing capacity against which fronting commitments exist | 15,000 | 15,000 | |||||
Entergy Louisiana [Member] | Mortgage Bonds, Four Point Two Zero Percent Series due April Twenty Fifty [Member] [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from Issuance of Debt | $ 525,000 | ||||||
Debt instrument, interest rate, stated percentage | 4.20% | ||||||
Entergy Mississippi [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Authorized Short Term Borrowings | 175,000 | 175,000 | |||||
Letters of Credit Outstanding, Amount | 200 | 200 | 200 | ||||
Entergy Mississippi [Member] | Mortgage bonds, 3.85% Series due June 2049 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from Issuance of Debt | $ 300,000 | ||||||
Debt instrument, interest rate, stated percentage | 3.85% | ||||||
Entergy Mississippi [Member] | Mortgage Bonds Six Point Six Four Percent Series Due July Two Thousand Nineteen [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, interest rate, stated percentage | 6.64% | ||||||
Repayments of Debt | $ 150,000 | ||||||
Entergy Texas [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Authorized Short Term Borrowings | 200,000 | 200,000 | |||||
Amount of total borrowing capacity against which fronting commitments exist | 30,000 | $ 30,000 | |||||
Letters of Credit Outstanding, Amount | $ 4,100 | ||||||
Entergy Texas [Member] | Mortgage Bonds Four Percent Due March 2029 [Domain] | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from Issuance of Debt | $ 300,000 | ||||||
Debt instrument, interest rate, stated percentage | 4.00% | ||||||
Entergy Texas [Member] | Mortgage Bonds Four Point Five Percent Due March 2039 [Domain] [Domain] | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from Issuance of Debt | $ 400,000 | ||||||
Debt instrument, interest rate, stated percentage | 4.50% | ||||||
Entergy Texas [Member] | 7.125% Series First Mortgage Bonds Due February 2019 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, interest rate, stated percentage | 7.125% | ||||||
Repayments of Debt | $ 500,000 | ||||||
Entergy Texas [Member] | Mortgage Bonds Three Point Fifty Five Percent Due September 2049 [Domain] | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from Issuance of Debt | $ 300,000 | ||||||
Debt instrument, interest rate, stated percentage | 3.55% | 3.55% | |||||
System Energy [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Authorized Short Term Borrowings | $ 200,000 | $ 200,000 | |||||
System Energy [Member] | Two Point Five Percent Series 2019 Revenue Refunding Bonds Due April 2022 [Domain] | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from Issuance of Debt | $ 134,000 | ||||||
Debt instrument, interest rate, stated percentage | 2.50% | ||||||
System Energy [Member] | Two Point Five Percent Series 2019 Revenue Refunding Bonds Due April 2022 [Domain] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, interest rate, stated percentage | 5.875% | ||||||
Repayments of Debt | $ 134,000 | ||||||
Entergy Nuclear Vermont Yankee [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount of Facility | 139,000 | $ 139,000 | |||||
Line of credit facility, commitment fee percentage | 0.20% | ||||||
Amount Drawn/ Outstanding | 139,000 | $ 139,000 | $ 139,000 | ||||
Line of Credit Facility, Interest Rate During Period | 4.07% | ||||||
Entergy New Orleans [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Authorized Short Term Borrowings | 150,000 | $ 150,000 | |||||
Amount of total borrowing capacity against which fronting commitments exist | 10,000 | 10,000 | |||||
System Energy VIE [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount Drawn/ Outstanding | 53,600 | $ 53,600 | |||||
Line of Credit Facility, Interest Rate During Period | 3.42% | ||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | ||||||
Entergy Arkansas VIE [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount Drawn/ Outstanding | $ 30,300 | $ 30,300 | |||||
Line of Credit Facility, Interest Rate During Period | 3.41% | ||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | ||||||
Entergy Arkansas VIE [Member] | Three Point Six Five Percent Series L Notes Due July Two Thousand Twenty One [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, interest rate, stated percentage | 3.65% | 3.65% | |||||
Entergy Louisiana Waterford VIE [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount Drawn/ Outstanding | $ 65,500 | $ 65,500 | |||||
Line of Credit Facility, Interest Rate During Period | 3.41% | ||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | ||||||
Entergy Louisiana Waterford VIE [Member] | Three Point Nine Two Percent Series H Dues February Two Thousand Twenty One [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, interest rate, stated percentage | 3.92% | 3.92% | |||||
Entergy Louisiana River Bend VIE [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount Drawn/ Outstanding | $ 84,300 | $ 84,300 | |||||
Line of Credit Facility, Interest Rate During Period | 3.37% | ||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||
Line of Credit Facility, Expiration Date | Sep. 16, 2021 | ||||||
Maximum [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Line of credit facility, commitment fee percentage | 0.225% | ||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||
Maximum [Member] | Entergy Arkansas [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||
Consolidated debt ratio of total capitalization | 70.00% | ||||||
Maximum [Member] | Entergy Louisiana [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||
Consolidated debt ratio of total capitalization | 70.00% | ||||||
Maximum [Member] | Entergy Mississippi [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||
Maximum [Member] | Entergy Texas [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||
Maximum [Member] | System Energy [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Consolidated debt ratio of total capitalization | 70.00% | ||||||
Maximum [Member] | Entergy New Orleans [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Consolidated debt ratio | 0.65 | 0.65 | |||||
Minimum [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Line of credit facility, commitment fee percentage | 0.075% | ||||||
Credit Facility Of Twenty Million [Member] | Entergy Arkansas [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount of Facility | $ 20,000 | $ 20,000 | |||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||
Line of Credit Facility, Interest Rate During Period | 3.17% | ||||||
Line of Credit Facility, Expiration Date | Apr. 30, 2020 | ||||||
Credit Facility Of Three Hundred Fifty Million [Member] | Entergy Louisiana [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount of Facility | 350,000 | $ 350,000 | |||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||
Line of Credit Facility, Interest Rate During Period | 3.17% | ||||||
Line of Credit Facility, Expiration Date | Sep. 14, 2024 | ||||||
Credit Facility Of One Hundred And Fifty Million [Member] | Entergy Arkansas [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount of Facility | 150,000 | $ 150,000 | |||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||
Line of Credit Facility, Interest Rate During Period | 3.17% | ||||||
Line of Credit Facility, Expiration Date | Sep. 14, 2024 | ||||||
Credit Facility Of One Hundred And Fifty Million [Member] | Entergy Texas [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount of Facility | 150,000 | $ 150,000 | |||||
Letters of Credit Outstanding, Amount | 1,300 | 1,300 | |||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||
Line of Credit Facility, Interest Rate During Period | 3.54% | ||||||
Line of Credit Facility, Expiration Date | Sep. 14, 2024 | ||||||
Credit Facility Of Thirty Seven Point Five Million [Member] | Entergy Mississippi [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount of Facility | 37,500 | $ 37,500 | |||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||
Line of Credit Facility, Interest Rate During Period | 3.54% | ||||||
Line of Credit Facility, Expiration Date | May 31, 2020 | ||||||
Credit Facility Of Thirty Five Million [Member] | Entergy Mississippi [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount of Facility | 35,000 | $ 35,000 | |||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||
Line of Credit Facility, Interest Rate During Period | 3.54% | ||||||
Line of Credit Facility, Expiration Date | May 31, 2020 | ||||||
Credit Facility Of Ten Million [Member] | Entergy Mississippi [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount of Facility | 10,000 | $ 10,000 | |||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||
Line of Credit Facility, Interest Rate During Period | 3.54% | ||||||
Line of Credit Facility, Expiration Date | May 31, 2020 | ||||||
Credit Facility Of Twenty Five Million [Member] | Entergy New Orleans [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Amount of Facility | 25,000 | $ 25,000 | |||||
Letters of Credit Outstanding, Amount | 800 | 800 | |||||
Amount Drawn/ Outstanding | $ 0 | $ 0 | |||||
Line of Credit Facility, Interest Rate During Period | 3.32% | ||||||
Line of Credit Facility, Expiration Date | Nov. 20, 2021 |
Revolving Credit Facilities, _4
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Summary Of The Borrowings Outstanding And Capacity Available Under The Facility) (Details) $ in Millions | Sep. 30, 2019USD ($) |
Summary of the borrowings outstanding and capacity available under the facility | |
Capacity | $ 3,500 |
Amount Drawn/ Outstanding | 155 |
Letters of Credit | 6 |
Capacity Available | $ 3,339 |
Revolving Credit Facilities, _5
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Credit Facilities) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Amount of Facility | $ 3,500,000 | |
Amount Drawn/ Outstanding | 155,000 | |
Entergy Arkansas [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | $ 5,000 | |
Entergy Arkansas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ||
Expiration Date | Sep. 14, 2024 | |
Amount of Facility | $ 150,000 | |
Interest Rate | 3.17% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | $ 0 | |
Entergy Arkansas [Member] | Credit Facility Of Twenty Million [Member] | ||
Expiration Date | Apr. 30, 2020 | |
Amount of Facility | $ 20,000 | |
Interest Rate | 3.17% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Louisiana [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | $ 15,000 | |
Entergy Louisiana [Member] | Credit Facility Of Three Hundred Fifty Million [Member] | ||
Expiration Date | Sep. 14, 2024 | |
Amount of Facility | $ 350,000 | |
Interest Rate | 3.17% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Mississippi [Member] | ||
Letters of Credit Outstanding, Amount | $ 200 | $ 200 |
Entergy Mississippi [Member] | Credit Facility Of Thirty Seven Point Five Million [Member] | ||
Expiration Date | May 31, 2020 | |
Amount of Facility | $ 37,500 | |
Interest Rate | 3.54% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | $ 0 | |
Entergy Mississippi [Member] | Credit Facility Of Thirty Five Million [Member] | ||
Expiration Date | May 31, 2020 | |
Amount of Facility | $ 35,000 | |
Interest Rate | 3.54% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | $ 0 | |
Entergy Mississippi [Member] | Credit Facility Of Ten Million [Member] | ||
Expiration Date | May 31, 2020 | |
Amount of Facility | $ 10,000 | |
Interest Rate | 3.54% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy New Orleans [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | $ 10,000 | |
Entergy New Orleans [Member] | Credit Facility Of Twenty Five Million [Member] | ||
Expiration Date | Nov. 20, 2021 | |
Amount of Facility | $ 25,000 | |
Interest Rate | 3.32% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 800 | |
Entergy Texas [Member] | ||
Amount of total borrowing capacity against which fronting commitments exist | $ 30,000 | |
Letters of Credit Outstanding, Amount | $ 4,100 | |
Entergy Texas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ||
Expiration Date | Sep. 14, 2024 | |
Amount of Facility | $ 150,000 | |
Interest Rate | 3.54% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | $ 1,300 |
Revolving Credit Facilities, _6
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Short-Term Borrowings And The Outstanding Short-Term Borrowings) (Details) $ in Millions | Sep. 30, 2019USD ($) |
Entergy Arkansas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | $ 250 |
Borrowings | 0 |
Entergy Louisiana [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 450 |
Borrowings | 0 |
Entergy Mississippi [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 175 |
Borrowings | 0 |
Entergy New Orleans [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 150 |
Borrowings | 46 |
Entergy Texas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | 0 |
System Energy [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | $ 0 |
Revolving Credit Facilities, _7
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Amount Drawn/ Outstanding | $ 155 |
Entergy Arkansas VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Expiration Date | Sep. 16, 2021 |
Amount of Facility | $ 80 |
Line of Credit Facility, Interest Rate During Period | 3.41% |
Amount Drawn/ Outstanding | $ 30.3 |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% |
System Energy VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Expiration Date | Sep. 16, 2021 |
Amount of Facility | $ 120 |
Line of Credit Facility, Interest Rate During Period | 3.42% |
Amount Drawn/ Outstanding | $ 53.6 |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% |
Entergy Louisiana River Bend VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Expiration Date | Sep. 16, 2021 |
Amount of Facility | $ 105 |
Line of Credit Facility, Interest Rate During Period | 3.37% |
Amount Drawn/ Outstanding | $ 84.3 |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% |
Entergy Louisiana Waterford VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Expiration Date | Sep. 16, 2021 |
Amount of Facility | $ 105 |
Line of Credit Facility, Interest Rate During Period | 3.41% |
Amount Drawn/ Outstanding | $ 65.5 |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% |
Revolving Credit Facilities, _8
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Notes Payable By Variable Interest Entities) (Details) $ in Millions | Sep. 30, 2019USD ($) |
Three Point Six Five Percent Series L Notes Due July Two Thousand Twenty One [Member] | Entergy Arkansas VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.65% |
Amount | $ 90 |
Three Point One Seven Percent Series M Notes Due December Two Thousand Twenty Three [Member] | Entergy Arkansas VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.17% |
Amount | $ 40 |
Three Point Three Eight Percent Series R Notes Due August Two Thousand Twenty [Member] | Entergy Louisiana River Bend VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.38% |
Amount | $ 70 |
Three Point Nine Two Percent Series H Dues February Two Thousand Twenty One [Member] | Entergy Louisiana Waterford VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.92% |
Amount | $ 40 |
Three Point Two Two Percent Series I Notes Due December Two Thousand Twenty Three [Domain] | Entergy Louisiana Waterford VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.22% |
Amount | $ 20 |
Three Point Four Two Percent Series J Notes Due April Two Thousand Twenty One [Member] | System Energy VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.42% |
Amount | $ 100 |
Revolving Credit Facilities, _9
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Book Value And The Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Long-term Debt, Fair Value | $ 18,628,268 | $ 15,880,239 |
Long-term Debt, Book Value | 17,458,026 | 16,168,312 |
Entergy Arkansas [Member] | ||
Long-term Debt, Fair Value | 3,621,073 | 3,002,627 |
Long-term Debt, Book Value | 3,538,384 | 3,225,759 |
Long term DOE obligations | 190,000 | 187,000 |
Entergy Louisiana [Member] | ||
Long-term Debt, Fair Value | 8,038,675 | 6,834,134 |
Long-term Debt, Book Value | 7,344,160 | 6,805,768 |
Entergy Mississippi [Member] | ||
Long-term Debt, Fair Value | 1,586,199 | 1,276,452 |
Long-term Debt, Book Value | 1,469,454 | 1,325,750 |
Entergy New Orleans [Member] | ||
Long-term Debt, Fair Value | 522,688 | 491,569 |
Long-term Debt, Book Value | 478,619 | 483,704 |
Entergy Texas [Member] | ||
Long-term Debt, Fair Value | 2,128,842 | 1,528,828 |
Long-term Debt, Book Value | 1,938,303 | 1,513,735 |
System Energy [Member] | ||
Long-term Debt, Fair Value | 554,374 | 596,123 |
Long-term Debt, Book Value | 570,001 | 630,750 |
Capital Lease Obligations | $ 34,000 | $ 34,000 |
Revolving Credit Facilities,_10
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Entergy Mississippi [Member] | ||
Letters of Credit Outstanding, Amount | $ 0.2 | $ 0.2 |
Entergy Texas [Member] | ||
Letters of Credit Outstanding, Amount | $ 4.1 | |
Credit Facility Of Twenty Five Million [Member] | Entergy Arkansas [Member] | ||
Uncommitted Credit Facility | $ 25 | |
Letter of Credit Fee, Percentage | 0.70% | |
Letters of Credit Outstanding, Amount | $ 1 | |
Credit Facility of Fifty Million [Member] | Entergy Texas [Member] | ||
Uncommitted Credit Facility | $ 50 | |
Letter of Credit Fee, Percentage | 0.70% | |
Letters of Credit Outstanding, Amount | $ 26.2 | |
Credit Facility of Fifteen Million [Member] | Entergy New Orleans [Member] | ||
Uncommitted Credit Facility | $ 15 | |
Letter of Credit Fee, Percentage | 1.00% | |
Letters of Credit Outstanding, Amount | $ 1 | |
Credit Facility Of One Hundred Twenty Five Million [Member] | Entergy Louisiana [Member] | ||
Uncommitted Credit Facility | $ 125 | |
Letter of Credit Fee, Percentage | 0.70% | |
Letters of Credit Outstanding, Amount | $ 11.7 | |
Credit Facility of Sixty Five Million [Member] | Entergy Mississippi [Member] | ||
Uncommitted Credit Facility | $ 65 | |
Letter of Credit Fee, Percentage | 0.70% | |
Letters of Credit Outstanding, Amount | $ 8.1 |
Stock Based Compensation (Narra
Stock Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended |
Jan. 31, 2019 | Mar. 31, 2019 | Sep. 30, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of awards under Entergy's plans, years | 3 years | ||
Equity Ownership And Long Term Cash Incentive Plan Two Thousand Fifteen [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock option granted (in shares) | 693,161 | ||
Weighted-average grant-date fair value of options granted (in dollars per share) | $ 8.32 | ||
Stock options outstanding | 2,515,896 | ||
Weighted-average exercise price of stock options outstanding (in dollars per share) | $ 78.53 | ||
Intrinsic value in the money stock options | $ 97.7 | ||
Restricted Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of awards under Entergy's plans, years | 3 years | ||
Restricted Awards [Member] | Equity Ownership And Long Term Cash Incentive Plan Two Thousand Fifteen [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock awards granted | 355,537 | ||
Restricted stock awards granted value (in dollars per share) | $ 89.19 | ||
Long Term Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of awards under Entergy's plans, years | 3 years | ||
Long Term Incentive Plan [Member] | Equity Ownership And Long Term Cash Incentive Plan Two Thousand Fifteen [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Long-term incentive plan awards | 180,824 | ||
Percent of performance measure based on relative total shareholder return | 80.00% | 80.00% | |
Percent of performance measure based on cumulative adjusted EPS metric | 20.00% | 20.00% | |
Long Term Incentive Plan [Member] | Equity Ownership And Long Term Cash Incentive Plan Two Thousand Fifteen [Member] | Performance measure based on relative total shareholder return [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock awards granted value (in dollars per share) | $ 102.07 | ||
Long Term Incentive Plan [Member] | Equity Ownership And Long Term Cash Incentive Plan Two Thousand Fifteen [Member] | Performance measure based on cumulative adjusted earnings per share metric [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock awards granted value (in dollars per share) | $ 89.19 |
Stock-Based Compensation (Finan
Stock-Based Compensation (Financial Information For Stock Options) (Details) - Employee Stock Option [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Employee service share-based compensation, aggregate disclosures | ||||
Compensation expense included in Entergy's net income | $ 0.9 | $ 1.1 | $ 2.9 | $ 3.3 |
Tax benefit recognized in Entergy's net income | 0.2 | 0.2 | 0.7 | 0.8 |
Compensation cost capitalized as part of fixed assets and inventory | $ 0.4 | $ 0.1 | $ 1 | $ 0.5 |
Stock-Based Compensation (Fin_2
Stock-Based Compensation (Financial Information For Other Equity Plans) (Details) - Other Equity Awards [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Employee service share-based compensation, aggregate disclosures | ||||
Compensation expense included in Entergy's net income | $ 8.4 | $ 8.5 | $ 25.6 | $ 26 |
Tax benefit recognized in Entergy's net income | 2.1 | 2.2 | 6.5 | 6.6 |
Compensation cost capitalized as part of fixed assets and inventory | $ 3 | $ 2.5 | $ 8.8 | $ 7.3 |
Retirement And Other Postreti_3
Retirement And Other Postretirement Benefits (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | $ 176,900 | $ 176,900 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 123,100 | ||||
Entergy Arkansas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 27,112 | 27,112 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 18,222 | ||||
Entergy Louisiana [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 26,451 | 26,451 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 18,272 | ||||
Entergy Mississippi [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 7,701 | 7,701 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 5,186 | ||||
Entergy New Orleans [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 1,800 | 1,800 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 1,237 | ||||
Entergy Texas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 1,645 | 1,645 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 1,192 | ||||
System Energy [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 8,285 | 8,285 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 5,631 | ||||
Subsequent Event [Member] | Entergy Arkansas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 8,890 | ||||
Subsequent Event [Member] | Entergy Louisiana [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 8,179 | ||||
Subsequent Event [Member] | Entergy Mississippi [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 2,515 | ||||
Subsequent Event [Member] | Entergy New Orleans [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 563 | ||||
Subsequent Event [Member] | Entergy Texas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 453 | ||||
Subsequent Event [Member] | System Energy [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 2,654 | ||||
Non Qualified Pension Plans [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net periodic benefit costs | 4,600 | $ 4,200 | 16,300 | $ 19,700 | |
Settlement Charge Associated With Out Of Plan Payment Of Lump Sum Benefits | 955 | 212 | 4,600 | 7,000 | |
Non Qualified Pension Plans [Member] | Entergy Arkansas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net periodic benefit costs | 67 | 114 | 211 | 369 | |
Settlement Charge Associated With Out Of Plan Payment Of Lump Sum Benefits | 7 | 30 | |||
Non Qualified Pension Plans [Member] | Entergy Louisiana [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net periodic benefit costs | 38 | 42 | 122 | 138 | |
Non Qualified Pension Plans [Member] | Entergy Mississippi [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net periodic benefit costs | 69 | 73 | 257 | 230 | |
Settlement Charge Associated With Out Of Plan Payment Of Lump Sum Benefits | 40 | ||||
Non Qualified Pension Plans [Member] | Entergy New Orleans [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net periodic benefit costs | 5 | 20 | 16 | 62 | |
Non Qualified Pension Plans [Member] | Entergy Texas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net periodic benefit costs | $ 119 | $ 122 | $ 365 | 529 | |
Settlement Charge Associated With Out Of Plan Payment Of Lump Sum Benefits | $ 139 |
Retirement And Other Postreti_4
Retirement And Other Postretirement Benefits (Components Of Qualified Net Pension Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Pension Plans Defined Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | $ 33,553 | $ 38,752 | $ 100,766 | $ 116,256 |
Interest cost on projected benefit obligation | 73,261 | 66,854 | 221,114 | 200,562 |
Expected return on assets | (103,751) | (110,535) | (311,494) | (331,605) |
Amortization of prior service cost (credit) | 0 | 99 | 0 | 297 |
Amortization of loss | 60,395 | 68,526 | 177,233 | 205,578 |
Net other postretirement benefit cost | 79,749 | 63,696 | 205,210 | 191,088 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment | 16,291 | 0 | 17,591 | 0 |
Pension Plans Defined Benefit [Member] | Entergy Arkansas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 5,260 | 6,189 | 15,782 | 18,567 |
Interest cost on projected benefit obligation | 14,175 | 13,004 | 42,525 | 39,012 |
Expected return on assets | (20,177) | (21,851) | (60,529) | (65,553) |
Amortization of loss | 11,840 | 13,412 | 35,522 | 40,236 |
Net other postretirement benefit cost | 11,098 | 10,754 | 33,300 | 32,262 |
Pension Plans Defined Benefit [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 7,284 | 8,446 | 21,852 | 25,338 |
Interest cost on projected benefit obligation | 15,882 | 14,940 | 47,646 | 44,820 |
Expected return on assets | (22,651) | (24,809) | (67,955) | (74,427) |
Amortization of loss | 11,643 | 14,450 | 34,929 | 43,350 |
Net other postretirement benefit cost | 12,158 | 13,027 | 36,472 | 39,081 |
Pension Plans Defined Benefit [Member] | Entergy Mississippi [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,629 | 1,822 | 4,887 | 5,466 |
Interest cost on projected benefit obligation | 4,068 | 3,769 | 12,204 | 11,307 |
Expected return on assets | (5,969) | (6,502) | (17,905) | (19,506) |
Amortization of loss | 3,104 | 3,610 | 9,313 | 10,830 |
Net other postretirement benefit cost | 2,832 | 2,699 | 8,499 | 8,097 |
Pension Plans Defined Benefit [Member] | Entergy New Orleans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 568 | 673 | 1,706 | 2,019 |
Interest cost on projected benefit obligation | 1,873 | 1,813 | 5,621 | 5,439 |
Expected return on assets | (2,696) | (2,993) | (8,089) | (8,979) |
Amortization of loss | 1,529 | 1,954 | 4,588 | 5,862 |
Net other postretirement benefit cost | 1,274 | 1,447 | 3,826 | 4,341 |
Pension Plans Defined Benefit [Member] | Entergy Texas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,350 | 1,589 | 4,050 | 4,767 |
Interest cost on projected benefit obligation | 3,613 | 3,348 | 10,837 | 10,044 |
Expected return on assets | (5,862) | (6,523) | (17,586) | (19,569) |
Amortization of loss | 2,334 | 2,626 | 7,002 | 7,878 |
Net other postretirement benefit cost | 1,435 | 1,040 | 4,303 | 3,120 |
Pension Plans Defined Benefit [Member] | System Energy [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,549 | 1,776 | 4,649 | 5,328 |
Interest cost on projected benefit obligation | 3,364 | 3,227 | 10,091 | 9,681 |
Expected return on assets | (4,678) | (4,991) | (14,032) | (14,973) |
Amortization of loss | 2,850 | 3,715 | 8,550 | 11,145 |
Net other postretirement benefit cost | 3,085 | 3,727 | 9,258 | 11,181 |
Other Postretirement [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 4,675 | 6,782 | 14,025 | 20,346 |
Interest cost on projected benefit obligation | 11,975 | 12,681 | 35,925 | 38,043 |
Expected return on assets | (9,562) | (10,373) | (28,686) | (31,119) |
Amortization of prior service cost (credit) | (8,844) | (9,251) | (26,532) | (27,753) |
Amortization of loss | 358 | 3,432 | 1,074 | 10,296 |
Net other postretirement benefit cost | (1,398) | 3,271 | (4,194) | 9,813 |
Other Postretirement [Member] | Entergy Arkansas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 591 | 793 | 1,773 | 2,379 |
Interest cost on projected benefit obligation | 1,807 | 1,997 | 5,421 | 5,991 |
Expected return on assets | (3,991) | (4,342) | (11,973) | (13,026) |
Amortization of prior service cost (credit) | (1,238) | (1,278) | (3,714) | (3,834) |
Amortization of loss | 144 | 289 | 432 | 867 |
Net other postretirement benefit cost | (2,687) | (2,541) | (8,061) | (7,623) |
Other Postretirement [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,160 | 1,556 | 3,480 | 4,668 |
Interest cost on projected benefit obligation | 2,666 | 2,789 | 7,998 | 8,367 |
Expected return on assets | 0 | 0 | 0 | 0 |
Amortization of prior service cost (credit) | (1,837) | (1,934) | (5,511) | (5,802) |
Amortization of loss | (174) | 388 | (522) | 1,164 |
Net other postretirement benefit cost | 1,815 | 2,799 | 5,445 | 8,397 |
Other Postretirement [Member] | Entergy Mississippi [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 262 | 321 | 786 | 963 |
Interest cost on projected benefit obligation | 670 | 683 | 2,010 | 2,049 |
Expected return on assets | (1,199) | (1,303) | (3,597) | (3,909) |
Amortization of prior service cost (credit) | (439) | (456) | (1,317) | (1,368) |
Amortization of loss | 181 | 377 | 543 | 1,131 |
Net other postretirement benefit cost | (525) | (378) | (1,575) | (1,134) |
Other Postretirement [Member] | Entergy New Orleans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 92 | 129 | 276 | 387 |
Interest cost on projected benefit obligation | 395 | 417 | 1,185 | 1,251 |
Expected return on assets | (1,237) | (1,313) | (3,711) | (3,939) |
Amortization of prior service cost (credit) | (171) | (186) | (513) | (558) |
Amortization of loss | 58 | 34 | 174 | 102 |
Net other postretirement benefit cost | (863) | (919) | (2,589) | (2,757) |
Other Postretirement [Member] | Entergy Texas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 236 | 330 | 708 | 990 |
Interest cost on projected benefit obligation | 854 | 939 | 2,562 | 2,817 |
Expected return on assets | (2,276) | (2,446) | (6,828) | (7,338) |
Amortization of prior service cost (credit) | (561) | (579) | (1,683) | (1,737) |
Amortization of loss | 121 | 206 | 363 | 618 |
Net other postretirement benefit cost | (1,626) | (1,550) | (4,878) | (4,650) |
Other Postretirement [Member] | System Energy [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 243 | 306 | 729 | 918 |
Interest cost on projected benefit obligation | 476 | 500 | 1,428 | 1,500 |
Expected return on assets | (697) | (783) | (2,091) | (2,349) |
Amortization of prior service cost (credit) | (363) | (378) | (1,089) | (1,134) |
Amortization of loss | 89 | 233 | 267 | 699 |
Net other postretirement benefit cost | (252) | (122) | (756) | (366) |
Non Qualified Pension Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 4,600 | 4,200 | 16,300 | 19,700 |
Settlement Charge Associated With Out Of Plan Payment Of Lump Sum Benefits | 955 | 212 | 4,600 | 7,000 |
Non Qualified Pension Plans [Member] | Entergy Arkansas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 67 | 114 | 211 | 369 |
Settlement Charge Associated With Out Of Plan Payment Of Lump Sum Benefits | 7 | 30 | ||
Non Qualified Pension Plans [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 38 | 42 | 122 | 138 |
Non Qualified Pension Plans [Member] | Entergy Mississippi [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 69 | 73 | 257 | 230 |
Settlement Charge Associated With Out Of Plan Payment Of Lump Sum Benefits | 40 | |||
Non Qualified Pension Plans [Member] | Entergy New Orleans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 5 | 20 | 16 | 62 |
Non Qualified Pension Plans [Member] | Entergy Texas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | $ 119 | $ 122 | $ 365 | 529 |
Settlement Charge Associated With Out Of Plan Payment Of Lump Sum Benefits | $ 139 |
Retirement And Other Postreti_5
Retirement And Other Postretirement Benefits (Expected Employer Contributions) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Dec. 31, 2019 | Sep. 30, 2019 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | $ 176,900 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 123,100 | |
Entergy Louisiana [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 26,451 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 18,272 | |
Entergy Louisiana [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 8,179 | |
Entergy Mississippi [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 7,701 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 5,186 | |
Entergy Mississippi [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 2,515 | |
Entergy New Orleans [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 1,800 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 1,237 | |
Entergy New Orleans [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 563 | |
Entergy Texas [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 1,645 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 1,192 | |
Entergy Texas [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 453 | |
System Energy [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 8,285 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 5,631 | |
System Energy [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 2,654 | |
Entergy Arkansas [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | 27,112 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 18,222 | |
Entergy Arkansas [Member] | Subsequent Event [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 8,890 |
Retirement And Other Postreti_6
Retirement And Other Postretirement Benefits (Reclassification Out Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | $ 5,325 | $ 5,425 | $ 15,977 | $ 16,278 |
Amortization of loss | (20,919) | (24,740) | (58,888) | (74,503) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | (16,630) | (76) | (18,685) | (2,098) |
Total | (32,224) | (19,391) | (61,596) | (60,323) |
Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 1,837 | 1,934 | 5,511 | 5,802 |
Amortization of loss | (526) | (1,257) | (1,578) | (3,770) |
Total | 1,311 | 677 | 3,933 | 2,032 |
Pension Plans Defined Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 0 | (99) | 0 | (297) |
Amortization of loss | (20,686) | (21,958) | (58,156) | (65,870) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | (16,257) | 0 | (17,557) | 0 |
Total | (36,943) | (22,057) | (75,713) | (66,167) |
Pension Plans Defined Benefit [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Amortization of loss | (699) | (867) | (2,096) | (2,601) |
Total | (699) | (867) | (2,096) | (2,601) |
Other Postretirement [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 5,375 | 5,595 | 16,125 | 16,786 |
Amortization of loss | 308 | (1,932) | 923 | (5,801) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | 0 | 0 | 0 | 0 |
Total | 5,683 | 3,663 | 17,048 | 10,985 |
Other Postretirement [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 1,837 | 1,934 | 5,511 | 5,802 |
Amortization of loss | 174 | (388) | 522 | (1,164) |
Total | 2,011 | 1,546 | 6,033 | 4,638 |
Non Qualified Pension Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | (50) | (71) | (148) | (211) |
Amortization of loss | (541) | (850) | (1,655) | (2,832) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | (373) | (76) | (1,128) | (2,098) |
Total | (964) | (997) | (2,931) | (5,141) |
Non Qualified Pension Plans [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Amortization of loss | (1) | (2) | (4) | (5) |
Total | $ (1) | $ (2) | $ (4) | $ (5) |
Business Segment Information Bu
Business Segment Information Business Segment Information (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | 29 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Jun. 01, 2022 | |
Entergy Wholesale Commodities [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Asset Write-Offs, Impairments, And Related Charges | $ 8 | $ 155 | $ 98 | $ 297 | ||
Restructuring Charges | 14 | 43 | 70 | 103 | ||
Employee Retention and Severances Expenses and Other Benefits-Related Costs [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Restructuring Charges | 70 | |||||
Employee Retention and Severances Expenses and Other Benefits-Related Costs [Member] | Subsequent Event [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Restructuring Charges | $ 100 | $ 135 | ||||
Employee Retention and Severances Expenses and Other Benefits-Related Costs [Member] | Entergy Wholesale Commodities [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Restructuring Charges | $ 14 | $ 43 | $ 70 | $ 103 |
Business Segment Information (S
Business Segment Information (Segment Financial Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,140,575 | $ 3,104,319 | $ 8,416,367 | $ 8,496,970 | |||||
Segment Financial Information | |||||||||
Income taxes (benefits) | 29,201 | (283,006) | 73,430 | (519,937) | |||||
Consolidated net income | 369,459 | $ 240,533 | $ 258,646 | 539,818 | $ 248,860 | $ 136,200 | 868,639 | 924,877 | |
Assets | 50,506,268 | 50,506,268 | $ 48,275,066 | ||||||
Utility [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,840,222 | 2,724,279 | 7,392,641 | 7,389,477 | |||||
Segment Financial Information | |||||||||
Income taxes (benefits) | 71,698 | (137,035) | 81,283 | (325,134) | |||||
Consolidated net income | 581,964 | 507,745 | 1,150,863 | 1,104,078 | |||||
Assets | 48,348,371 | 48,348,371 | 44,777,167 | ||||||
Entergy Wholesale Commodities [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 300,363 | 380,080 | 1,023,757 | 1,107,606 | |||||
Segment Financial Information | |||||||||
Income taxes (benefits) | (30,855) | (135,659) | 25,763 | (166,882) | |||||
Consolidated net income | (140,501) | 105,571 | (68,804) | 31,456 | |||||
Assets | 4,122,007 | 4,122,007 | 5,459,275 | ||||||
All Other [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 9 | 0 | 11 | 0 | |||||
Segment Financial Information | |||||||||
Income taxes (benefits) | (11,642) | (10,312) | (33,616) | (27,921) | |||||
Consolidated net income | (40,105) | (41,601) | (117,725) | (114,962) | |||||
Assets | 501,983 | 501,983 | 733,366 | ||||||
Eliminations [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | (19) | (40) | (42) | (113) | |||||
Segment Financial Information | |||||||||
Income taxes (benefits) | 0 | 0 | 0 | 0 | |||||
Consolidated net income | (31,899) | $ (31,897) | (95,695) | $ (95,695) | |||||
Assets | $ (2,466,093) | $ (2,466,093) | $ (2,694,742) |
Business Segment Information _2
Business Segment Information Business Segment Information (Restructuring Costs) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | ||||||||
Payments for Restructuring | $ 86 | $ 0 | $ 140 | $ 0 | ||||
Employee Retention and Severances Expenses and Other Benefits-Related Costs [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Restructuring Charges | 70 | |||||||
Payments for Restructuring | 86 | 0 | 140 | 0 | ||||
Economic Development Costs [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Payments for Restructuring | 0 | 0 | 0 | 0 | ||||
Entergy Wholesale Commodities [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Restructuring Charges | 14 | 43 | 70 | 103 | ||||
Restructuring Reserve | 123 | 200 | 123 | 200 | $ 195 | $ 193 | $ 157 | $ 97 |
Entergy Wholesale Commodities [Member] | Employee Retention and Severances Expenses and Other Benefits-Related Costs [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Restructuring Charges | 14 | 43 | 70 | 103 | ||||
Restructuring Reserve | 109 | 186 | 109 | 186 | 181 | 179 | 143 | 83 |
Entergy Wholesale Commodities [Member] | Economic Development Costs [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Restructuring Charges | 0 | 0 | 0 | 0 | ||||
Restructuring Reserve | $ 14 | $ 14 | $ 14 | $ 14 | $ 14 | $ 14 | $ 14 | $ 14 |
Risk Management and Fair Valu_3
Risk Management and Fair Values (Narrative) (Details) TWh in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2019TWh | Sep. 30, 2019USD ($)GWhMMBTU | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)GWhMMBTU | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($)counterparty | |
Risk Management and Fair Values [Abstract] | ||||||
Cash flow hedges relating to power sales as part of net unrealized gains | $ 42 | |||||
Reclassified from accumulated other comprehensive income (OCI) to operating revenues | 30 | |||||
Maturity of cash flow hedges, Tax | $ 4 | $ (2) | $ 16 | $ (8) | ||
Maximum length of time over which Company is currently hedging the variability in future cash flows for forecasted power transactions, years | 1 year 6 months | |||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 40,346,000 | 40,346,000 | ||||
Total volume of fixed transmission rights outstanding | GWh | 79,459 | 79,459 | ||||
Change in cash flow hedges due to ineffectiveness | (3.1) | (5.2) | ||||
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset and Liability Unrealized Gains (Loss) Included in Earnings | $ (1.2) | $ 1.7 | $ (4.7) | $ 1.1 | ||
Entergy Arkansas [Member] | ||||||
Risk Management and Fair Values [Abstract] | ||||||
Total volume of fixed transmission rights outstanding | GWh | 17,898 | 17,898 | ||||
Entergy Louisiana [Member] | ||||||
Risk Management and Fair Values [Abstract] | ||||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 32,880,000 | 32,880,000 | ||||
Total volume of fixed transmission rights outstanding | GWh | 36,474 | 36,474 | ||||
Entergy Mississippi [Member] | ||||||
Risk Management and Fair Values [Abstract] | ||||||
Letters of Credit Outstanding, Amount | $ 0.2 | $ 0.2 | $ 0.2 | |||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 6,210,000 | 6,210,000 | ||||
Total volume of fixed transmission rights outstanding | GWh | 10,087 | 10,087 | ||||
Entergy New Orleans [Member] | ||||||
Risk Management and Fair Values [Abstract] | ||||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 1,256,000 | 1,256,000 | ||||
Total volume of fixed transmission rights outstanding | GWh | 3,751 | 3,751 | ||||
Entergy Texas [Member] | ||||||
Risk Management and Fair Values [Abstract] | ||||||
Letters of Credit Outstanding, Amount | 4.1 | |||||
Total volume of fixed transmission rights outstanding | GWh | 10,931 | 10,931 | ||||
Gas Hedge Contracts [Member] | Entergy Louisiana [Member] | ||||||
Risk Management and Fair Values [Abstract] | ||||||
Maximum Length of Time Hedged in Cash Flow Hedge | 4 years 6 months | |||||
Gas Hedge Contracts [Member] | Entergy Mississippi [Member] | ||||||
Risk Management and Fair Values [Abstract] | ||||||
Maximum Length of Time Hedged in Cash Flow Hedge | 6 months | |||||
Entergy Wholesale Commodities [Member] | ||||||
Risk Management and Fair Values [Abstract] | ||||||
Cash collateral posted | $ 13 | $ 13 | $ 19 | |||
Derivative, Collateral, Obligation to Return Cash | 2 | 2 | ||||
Letters of Credit Held | $ 48 | $ 48 | ||||
Number of Derivative Contract Counterparties in a Liability Position | counterparty | 6 | |||||
Dollar amount of hedge contract in a liability position | $ 34 | |||||
Utility [Member] | ||||||
Risk Management and Fair Values [Abstract] | ||||||
Letters of Credit Outstanding, Amount | $ 4 | |||||
Subsequent Event [Member] | ||||||
Risk Management and Fair Values [Abstract] | ||||||
Planned generation sold forward from non utility nuclear power plants for the remainder of the period | 97.00% | |||||
Planned Generation From Non Nuclear Power Plants Sold Forward Under Financial Hedges | 72.00% | |||||
Total planned generation for remainder of the period | TWh | 6.1 |
Risk Management and Fair Valu_4
Risk Management and Fair Values (Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Utility [Member] | ||
Liabilities: | ||
Letters of Credit Outstanding, Amount | $ 4 | |
Entergy Wholesale Commodities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Cash collateral posted | $ 13 | 19 |
Assets: | ||
Derivative, Collateral, Obligation to Return Cash | (2) | |
Liabilities: | ||
Letters of Credit Held | 48 | |
Other Non-Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 2 | 20 |
Derivative, Collateral, Right to Reclaim Cash | (2) | (7) |
Derivative Liability | 0 | 13 |
Other Non-Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 1 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Derivative Liability | 1 | |
Other Deferred Debits And Other Assets [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 12 | 0 |
Derivative Asset, Fair Value, Gross Asset | 14 | 7 |
Derivative, Collateral, Obligation to Return Cash | (2) | (7) |
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 | 1 | |
Derivative Asset, Fair Value, Gross Asset | 1 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Other Deferred Debits And Other Assets [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 1 | 2 |
Derivative Asset, Fair Value, Gross Asset | 1 | 2 |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Prepayments And Other [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 30 | 0 |
Derivative Asset, Fair Value, Gross Asset | 35 | 32 |
Derivative, Collateral, Obligation to Return Cash | (5) | (32) |
Prepayments And Other [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 6 | 2 |
Derivative Asset, Fair Value, Gross Asset | 9 | 4 |
Derivative, Collateral, Obligation to Return Cash | (3) | (2) |
Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Utility and Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 16 | 15 |
Derivative Asset, Fair Value, Gross Asset | 17 | 16 |
Derivative, Collateral, Obligation to Return Cash | (1) | (1) |
Other Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 5 | 54 |
Derivative, Collateral, Right to Reclaim Cash | (5) | (33) |
Derivative Liability | 0 | 21 |
Other Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 4 | 1 |
Derivative, Collateral, Right to Reclaim Cash | (4) | (1) |
Derivative Liability | 0 | 0 |
Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 4 | 1 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative Liability | 4 | 1 |
Entergy Louisiana [Member] | Other Non-Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 1.4 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Derivative Liability | 1.4 | |
Entergy Louisiana [Member] | Other Deferred Debits And Other Assets [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 1 | 1.6 |
Derivative Asset, Fair Value, Gross Asset | 1 | 1.6 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Entergy Louisiana [Member] | Prepayments And Other [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 0.1 | 0.3 |
Derivative Asset, Fair Value, Gross Asset | 0.1 | 0.3 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Entergy Louisiana [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 9.1 | 8.3 |
Derivative Asset, Fair Value, Gross Asset | 9.1 | 8.4 |
Derivative, Collateral, Obligation to Return Cash | 0 | (0.1) |
Entergy Louisiana [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 2.2 | 1.1 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative Liability | 2.2 | 1.1 |
Entergy Mississippi [Member] | ||
Liabilities: | ||
Letters of Credit Outstanding, Amount | 0.2 | 0.2 |
Entergy Mississippi [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 1.5 | 2.2 |
Derivative Asset, Fair Value, Gross Asset | 1.5 | 2.2 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Entergy Mississippi [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 1.1 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Derivative Liability | 1.1 | |
Entergy New Orleans [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 0.7 | 1.3 |
Derivative Asset, Fair Value, Gross Asset | 0.7 | 1.3 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Entergy New Orleans [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 0.1 | 0.1 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative Liability | 0.1 | 0.1 |
Entergy Arkansas [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 3.9 | 3.4 |
Derivative Asset, Fair Value, Gross Asset | 4 | 3.6 |
Derivative, Collateral, Obligation to Return Cash | (0.1) | (0.2) |
Entergy Texas [Member] | ||
Liabilities: | ||
Letters of Credit Outstanding, Amount | 4.1 | |
Entergy Texas [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative Asset | 1.3 | |
Derivative Asset, Fair Value, Gross Asset | 1.7 | |
Derivative, Collateral, Obligation to Return Cash | $ (0.4) | |
Entergy Texas [Member] | Other Current Liabilities [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 0.9 | |
Derivative, Collateral, Right to Reclaim Cash | (1.4) | |
Derivative Liability | $ (0.5) |
Risk Management and Fair Valu_5
Risk Management and Fair Values (Derivative Instruments Designated as Cash Flow Hedges On Consolidated Statements Of Income) (Details) - Competitive Businesses Operating Revenues [Member] - Electricity Swaps And Options [Member] - Cash Flow Hedging [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Effect of Derivative instruments designated as cash flow hedges on consolidated statements of income | ||||
Amount of gain (loss) recognized in AOCI (effective portion) | $ (7) | $ (51) | $ 145 | $ (40) |
Amount of gain reclassified from accumulated OCI into income (effective portion) | $ 19 | $ (11) | $ 76 | $ (38) |
Risk Management and Fair Valu_6
Risk Management and Fair Values (Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income) (Details) - Not Designated As Hedging Instrument [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
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 [Line Items] | ||||
Amount of gain (loss) recognized in AOCI | $ 0 | $ 0 | $ 0 | $ 0 |
Amount of gain (loss) recorded in income | 1 | (2) | 4 | 0 |
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 [Line Items] | ||||
Amount of gain (loss) recognized in AOCI | 0 | 0 | 0 | 0 |
Amount of gain (loss) recorded in income | (2) | 0 | (9) | 5 |
Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | ||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | ||||
Amount of gain (loss) recognized in AOCI | 0 | 0 | 0 | 0 |
Amount of gain (loss) recorded in income | 25 | 31 | 78 | 104 |
Entergy Arkansas [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | ||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | ||||
Amount of gain (loss) recorded in income | 3.5 | 10.1 | 15.4 | 20.1 |
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 [Line Items] | ||||
Amount of gain (loss) recorded in income | (1.7) | (0.7) | (3.6) | 4.2 |
Entergy Louisiana [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | ||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | ||||
Amount of gain (loss) recorded in income | 14.4 | 13.8 | 40.9 | 57.2 |
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 [Line Items] | ||||
Amount of gain (loss) recorded in income | (0.3) | 0.1 | (5.5) | 0.9 |
Entergy Mississippi [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | ||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | ||||
Amount of gain (loss) recorded in income | 1.9 | 5.4 | 5.3 | 23 |
Entergy New Orleans [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | ||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | ||||
Amount of gain (loss) recorded in income | (0.1) | 0.1 | ||
Entergy New Orleans [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | ||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | ||||
Amount of gain (loss) recorded in income | (0.3) | 2 | 2.2 | 10.5 |
Entergy Texas [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | ||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | ||||
Amount of gain (loss) recorded in income | $ 5.5 | $ (0.4) | $ 13.6 | $ (5.6) |
Risk Management and Fair Valu_7
Risk Management and Fair Values (Assets And Liabilities At Fair Value On A Recurring Basis) (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | $ 885,436,000 | $ 424,285,000 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 55,000,000 | 51,000,000 | |
Replacement Reserve Escrow | 410,000,000 | 403,000,000 | |
Equity Securities, FV-NI | 836,000,000 | 1,686,000,000 | |
Debt Securities | 2,968,000,000 | 2,884,000,000 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 7,544,000,000 | 7,818,000,000 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 35,000,000 | ||
Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 5,000,000 | 1,000,000 | |
Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 34,000,000 | ||
Common trust funds valued using Net Asset Value [Domain] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2,325,000,000 | 2,350,000,000 | |
Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 48,000,000 | 3,000,000 | |
Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 1,000,000 | 2,000,000 | |
Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 16,000,000 | 15,000,000 | |
Fair Value Inputs Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 885,000,000 | 424,000,000 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 55,000,000 | 51,000,000 | |
Replacement Reserve Escrow | 410,000,000 | 403,000,000 | |
Equity Securities, FV-NI | 836,000,000 | 1,686,000,000 | |
Debt Securities | 1,214,000,000 | 1,259,000,000 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 3,400,000,000 | 3,823,000,000 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 1,000,000 | ||
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 | 4,000,000 | 1,000,000 | |
Fair Value Inputs Level 1 [Member] | Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | ||
Fair Value Inputs Level 1 [Member] | Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | 0 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | |
Replacement Reserve Escrow | 0 | 0 | |
Equity Securities, FV-NI | 0 | 0 | |
Debt Securities | 1,754,000,000 | 1,625,000,000 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 1,755,000,000 | 1,627,000,000 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 1,000,000 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 1,000,000 | 2,000,000 | |
Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | 0 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | |
Replacement Reserve Escrow | 0 | 0 | |
Equity Securities, FV-NI | 0 | 0 | |
Debt Securities | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 64,000,000 | 18,000,000 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 34,000,000 | ||
Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 34,000,000 | ||
Fair Value, Inputs, Level 3 [Member] | Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 48,000,000 | 3,000,000 | |
Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 16,000,000 | 15,000,000 | |
Entergy New Orleans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | 19,651,000 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 5,268,000 | 2,224,000 | |
Replacement Reserve Escrow | 82,200,000 | 80,900,000 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 88,200,000 | 104,100,000 | |
Entergy New Orleans [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 100,000 | 100,000 | |
Entergy New Orleans [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 700,000 | 1,300,000 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 19,700,000 | ||
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 5,300,000 | 2,200,000 | |
Replacement Reserve Escrow | 82,200,000 | 80,900,000 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 87,500,000 | 102,800,000 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 100,000 | 100,000 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | ||
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | |
Replacement Reserve Escrow | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | ||
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | |
Replacement Reserve Escrow | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 700,000 | 1,300,000 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 700,000 | 1,300,000 | |
Entergy Mississippi [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 98,925,000 | 36,943,000 | |
Assets at fair value on a recurring basis | |||
Replacement Reserve Escrow | 33,000,000 | 32,400,000 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 133,400,000 | 71,500,000 | |
Entergy Mississippi [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 1,100,000 | ||
Entergy Mississippi [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 1,500,000 | 2,200,000 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 98,900,000 | 36,900,000 | |
Assets at fair value on a recurring basis | |||
Replacement Reserve Escrow | 33,000,000 | 32,400,000 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 131,900,000 | 69,300,000 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 1,100,000 | ||
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | 0 | |
Assets at fair value on a recurring basis | |||
Replacement Reserve Escrow | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | ||
Entergy Mississippi [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | 0 | |
Assets at fair value on a recurring basis | |||
Replacement Reserve Escrow | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 1,500,000 | 2,200,000 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | ||
Entergy Mississippi [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 1,500,000 | 2,200,000 | |
Entergy Louisiana [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 127,821,000 | 43,112,000 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 10,100,000 | 3,600,000 | |
Replacement Reserve Escrow | 294,500,000 | 289,500,000 | |
Equity Securities, FV-NI | [1] | 5,300,000 | 13,300,000 |
Debt Securities | [1] | 593,400,000 | 532,900,000 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 1,928,200,000 | 1,631,400,000 | |
Entergy Louisiana [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 3,600,000 | 1,100,000 | |
Entergy Louisiana [Member] | Common trust funds valued using Net Asset Value [Domain] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [2] | 886,900,000 | 738,800,000 |
Entergy Louisiana [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 1,100,000 | 1,900,000 | |
Entergy Louisiana [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 9,100,000 | 8,300,000 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 127,800,000 | 43,100,000 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 10,100,000 | 3,600,000 | |
Replacement Reserve Escrow | 294,500,000 | 289,500,000 | |
Equity Securities, FV-NI | [1] | 5,300,000 | 13,300,000 |
Debt Securities | [1] | 183,700,000 | 162,000,000 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 621,500,000 | 511,500,000 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 2,200,000 | 700,000 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 100,000 | 0 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | 0 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | |
Replacement Reserve Escrow | 0 | 0 | |
Equity Securities, FV-NI | [1] | 0 | 0 |
Debt Securities | [1] | 409,700,000 | 370,900,000 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 410,700,000 | 372,800,000 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 1,400,000 | 400,000 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 1,000,000 | 1,900,000 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | 0 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | |
Replacement Reserve Escrow | 0 | 0 | |
Equity Securities, FV-NI | [1] | 0 | 0 |
Debt Securities | [1] | 0 | 0 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 9,100,000 | 8,300,000 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 9,100,000 | 8,300,000 | |
Entergy Arkansas [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 76,659,000 | 1,000 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 7,904,000 | 4,666,000 | |
Equity Securities, FV-NI | [1] | 6,200,000 | 4,000,000 |
Debt Securities | [1] | 407,700,000 | 381,300,000 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 1,134,300,000 | 920,100,000 | |
Entergy Arkansas [Member] | Common trust funds valued using Net Asset Value [Domain] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [2] | 631,900,000 | 526,700,000 |
Entergy Arkansas [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 3,900,000 | 3,400,000 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 76,700,000 | ||
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 7,900,000 | 4,700,000 | |
Equity Securities, FV-NI | [1] | 6,200,000 | 4,000,000 |
Debt Securities | [1] | 101,400,000 | 94,800,000 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 192,200,000 | 103,500,000 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | ||
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | |
Equity Securities, FV-NI | [1] | 0 | 0 |
Debt Securities | [1] | 306,300,000 | 286,500,000 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 306,300,000 | 286,500,000 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | ||
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | |
Equity Securities, FV-NI | [1] | 0 | 0 |
Debt Securities | [1] | 0 | 0 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 3,900,000 | 3,400,000 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 3,900,000 | 3,400,000 | |
Entergy Texas [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 92,253,000 | 30,000 | |
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 31,649,000 | 40,185,000 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 125,200,000 | ||
Entergy Texas [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 1,300,000 | ||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 500,000 | ||
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 92,300,000 | ||
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 31,600,000 | 40,200,000 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 123,900,000 | ||
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | ||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | ||
Entergy Texas [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | ||
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 0 | ||
Entergy Texas [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 0 | ||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | ||
Entergy Texas [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | ||
Assets at fair value on a recurring basis | |||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 1,300,000 | ||
Entergy Texas [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Derivative Asset | 1,300,000 | ||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 500,000 | ||
System Energy [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 164,246,000 | 95,617,000 | |
Assets at fair value on a recurring basis | |||
Equity Securities, FV-NI | [1] | 5,800,000 | 4,400,000 |
Debt Securities | [1] | 395,300,000 | 364,200,000 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 1,166,500,000 | 965,100,000 | |
System Energy [Member] | Common trust funds valued using Net Asset Value [Domain] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [2] | 601,200,000 | 500,900,000 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 164,200,000 | 95,600,000 | |
Assets at fair value on a recurring basis | |||
Equity Securities, FV-NI | [1] | 5,800,000 | 4,400,000 |
Debt Securities | [1] | 206,000,000 | 224,500,000 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 376,000,000 | 324,500,000 | |
System Energy [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | 0 | |
Assets at fair value on a recurring basis | |||
Equity Securities, FV-NI | [1] | 0 | 0 |
Debt Securities | [1] | 189,300,000 | 139,700,000 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 189,300,000 | 139,700,000 | |
System Energy [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Equivalents, at Carrying Value | 0 | 0 | |
Assets at fair value on a recurring basis | |||
Equity Securities, FV-NI | [1] | 0 | 0 |
Debt Securities | [1] | 0 | 0 |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | $ 0 | $ 0 | |
[1] | (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 to the financial statements herein for additional information on the investment portfolios. | ||
[2] | (b) Common trust funds are not publicly quoted, and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. |
Risk Management and Fair Valu_8
Risk Management and Fair Values (Reconciliation Of Changes In The Net Assets (Liabilities) For The Fair Value Of Derivatives Classified As Level 3 In The Fair Value Hierarchy) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 48 | $ 48 | ||||||
Issuance of Financial Transmission Rights | 0 | $ 0 | ||||||
Electricity Swaps And Options [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 48 | 48 | $ 72 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ (67) | (67) | $ (31) | $ (25) | $ (65) | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 1 | 4 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (4) | (5) | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 145 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) | (7) | (51) | (40) | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 0 | 0 | 0 | 0 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (18) | (70) | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 13 | 43 | ||||||
Fixed Transmission Rights (FTRs) [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 16 | 29 | 16 | 29 | 29 | 15 | 41 | 21 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 0 | 0 | 0 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (1) | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 12 | 19 | 44 | 67 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (25) | (31) | (78) | (104) | ||||
Issuance of Financial Transmission Rights | 35 | 46 | ||||||
Fixed Transmission Rights (FTRs) [Member] | Entergy Arkansas [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 3.9 | 11.3 | 3.9 | 11.3 | 8.2 | 3.4 | 10.5 | 3 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 16.6 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 10.9 | 6.3 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included as Regulatory Liability/Asset | (0.8) | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (3.5) | (10.1) | (15.4) | (20.1) | ||||
Issuance of Financial Transmission Rights | 9.6 | 11.8 | ||||||
Fixed Transmission Rights (FTRs) [Member] | Entergy Louisiana [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 9.1 | 12 | 9.1 | 12 | 15.6 | 8.3 | 18.2 | 10.2 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 39 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 7.9 | 7.6 | 23 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (14.4) | (13.8) | (40.9) | (57.2) | ||||
Issuance of Financial Transmission Rights | 18.7 | 20 | ||||||
Fixed Transmission Rights (FTRs) [Member] | Entergy Mississippi [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 1.5 | 3.7 | 1.5 | 3.7 | 2.8 | 2.2 | 4.4 | 2.1 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 20.1 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 0.6 | 4.7 | 0.6 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (1.9) | (5.4) | (5.2) | (23) | ||||
Issuance of Financial Transmission Rights | 3.9 | 4.5 | ||||||
Fixed Transmission Rights (FTRs) [Member] | Entergy New Orleans [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0.7 | 2.1 | 0.7 | 2.1 | 2 | 1.3 | 3 | 2.2 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 6.7 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 1.1 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included as Regulatory Liability/Asset | (1.6) | (1.1) | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (2) | (2.2) | (10.5) | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 0.3 | |||||||
Issuance of Financial Transmission Rights | 2.7 | 3.7 | ||||||
Fixed Transmission Rights (FTRs) [Member] | Entergy Texas [Member] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 1.3 | 0.1 | 1.3 | 0.1 | $ 0.6 | $ 4.7 | $ 3.4 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ (0.5) | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (15) | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included as Regulatory Liability/Asset | 6.2 | 15.3 | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included as Regulatory Liability/Asset | (5) | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | $ (5.5) | (13.6) | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | $ 0.4 | 5.6 | ||||||
Issuance of Financial Transmission Rights | $ 0.1 | $ 6.1 |
Risk Management and Fair Valu_9
Risk Management and Fair Values (Schedules Of Valuation Techniques) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 48 |
Maximum [Member] | |
Range from Average Percentage for Fair Value of Electricity Swaps | 4.75% |
Effect of Significant Unobservable Inputs on Fair Value of Electricity Swaps | $ 5 |
Minimum [Member] | |
Range from Average Percentage for Fair Value of Electricity Swaps | 4.00% |
Effect of Significant Unobservable Inputs on Fair Value of Electricity Swaps | $ 4 |
Gas Hedge Contracts [Member] | Entergy Louisiana [Member] | |
Maximum Length of Time Hedged in Cash Flow Hedge | 4 years 6 months |
Gas Hedge Contracts [Member] | Entergy Mississippi [Member] | |
Maximum Length of Time Hedged in Cash Flow Hedge | 6 months |
Decommissioning Trust Funds (Na
Decommissioning Trust Funds (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Aug. 31, 2019 | Jan. 01, 2019 | Jan. 01, 2018 | |
Debt Securities, Trading, Measurement Input | $ 506,000,000 | $ 506,000,000 | $ 389,000,000 | |||||
Decommissioning Trust Funds [Abstract] | ||||||||
Accumulated Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, after Tax | $ (6,806,000) | $ (632,617,000) | ||||||
Deferred taxes on unrealized gains/(losses) recorded in OCI for non-regulated decommissioning trusts | 1,303,000 | $ (825,000) | 17,472,000 | $ 1,708,000 | ||||
Amortized cost of debt securities | $ 2,362,000,000 | $ 2,362,000,000 | 2,511,000,000 | |||||
Average coupon rate of debt securities | 3.15% | 3.15% | ||||||
Average duration of debt securities, years | 5 years 7 months 17 days | |||||||
Average maturity of debt securities, years | 9 years 7 days | |||||||
Proceeds from the dispositions of debt securities | $ 407,000,000 | 2,377,000,000 | $ 1,133,000,000 | 4,178,000,000 | ||||
Gains from dispositions of debt securities, gross | 11,000,000 | 4,000,000 | 20,000,000 | 6,000,000 | ||||
Losses from dispositions of debt securities, gross | 400,000 | 15,000,000 | 3,000,000 | 37,000,000 | ||||
Equity Securities, FV-NI, Unrealized Gain | 17,000,000 | 491,000,000 | ||||||
Debt Securities [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Deferred taxes on unrealized gains/(losses) recorded in OCI for non-regulated decommissioning trusts | 16,000,000 | (1,000,000) | ||||||
Entergy Arkansas [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Amortized cost of debt securities | $ 396,800,000 | $ 396,800,000 | 389,000,000 | |||||
Average coupon rate of debt securities | 2.78% | 2.78% | ||||||
Average duration of debt securities, years | 5 years 6 months 25 days | |||||||
Average maturity of debt securities, years | 8 years 1 month 17 days | |||||||
Proceeds from the dispositions of debt securities | $ 45,500,000 | 137,900,000 | $ 78,700,000 | 259,300,000 | ||||
Gains from dispositions of debt securities, gross | 2,000,000 | 10,000 | 2,100,000 | 100,000 | ||||
Losses from dispositions of debt securities, gross | 600,000 | 100,000 | 3,000,000 | |||||
Equity Securities, FV-NI, Unrealized Gain | 2,600,000 | 96,500,000 | ||||||
Entergy Louisiana [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Amortized cost of debt securities | $ 561,000,000 | $ 561,000,000 | 534,800,000 | |||||
Average coupon rate of debt securities | 3.85% | 3.85% | ||||||
Average duration of debt securities, years | 6 years 6 months 10 days | |||||||
Average maturity of debt securities, years | 13 years 1 month 9 days | |||||||
Proceeds from the dispositions of debt securities | $ 59,700,000 | 773,900,000 | $ 155,400,000 | 943,300,000 | ||||
Gains from dispositions of debt securities, gross | 2,500,000 | 1,900,000 | 4,200,000 | 2,500,000 | ||||
Losses from dispositions of debt securities, gross | 29,000 | 3,600,000 | $ 200,000 | 4,800,000 | ||||
Percentage Interest in River Bend | 30.00% | |||||||
Equity Securities, FV-NI, Unrealized Gain | 6,000,000 | $ 137,200,000 | ||||||
System Energy [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Amortized cost of debt securities | $ 375,600,000 | $ 375,600,000 | 367,100,000 | |||||
Average coupon rate of debt securities | 3.09% | 3.09% | ||||||
Average duration of debt securities, years | 6 years 10 months 2 days | |||||||
Average maturity of debt securities, years | 9 years 10 months 17 days | |||||||
Proceeds from the dispositions of debt securities | $ 108,600,000 | 157,800,000 | $ 238,400,000 | 357,200,000 | ||||
Gains from dispositions of debt securities, gross | 1,700,000 | 6,500 | 3,600,000 | 300,000 | ||||
Losses from dispositions of debt securities, gross | 200,000 | $ 300,000 | 600,000 | $ 4,800,000 | ||||
Equity Securities, FV-NI, Unrealized Gain | 2,500,000 | 91,800,000 | ||||||
Indian Point 3 [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Decommissioning Fund Investments, Fair Value | 893,000,000 | 893,000,000 | 781,000,000 | |||||
Indian Point 1 [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Decommissioning Fund Investments, Fair Value | 534,000,000 | 534,000,000 | 471,000,000 | |||||
Indian Point 2 [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Decommissioning Fund Investments, Fair Value | 676,000,000 | 676,000,000 | 598,000,000 | |||||
Palisades [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Decommissioning Fund Investments, Fair Value | $ 492,000,000 | $ 492,000,000 | 444,000,000 | |||||
Pilgrim [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Decommissioning Fund Investments, Fair Value | 1,028,000,000 | $ 1,030,000,000 | ||||||
Vermont Yankee [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Decommissioning Fund Investments, Fair Value | $ 532,000,000 | |||||||
Entergy Nuclear Generation Company [Member] | ||||||||
Decommissioning Trust Funds [Abstract] | ||||||||
Decommissioning Fund Investments, Fair Value | $ 1,030,000,000 |
Decommissioning Trust Funds (Se
Decommissioning Trust Funds (Securities Held) (Details) - Debt Securities [Member] - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value | $ 2,462 | $ 2,495 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 114 | 19 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 2 | 35 |
Entergy Arkansas [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value | 407.7 | 381.3 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 11.8 | 0.6 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.9 | 8.2 |
Entergy Louisiana [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value | 593.4 | 532.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 32.6 | 4.1 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.3 | 6 |
System Energy [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value | 395.3 | 364.2 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 19.7 | 2.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 0.1 | $ 5.8 |
Decommissioning Trust Funds (Av
Decommissioning Trust Funds (Available For Sale Securities Continuous Unrealized Loss Position Fair Value) (Details) - Debt Securities [Member] - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Less than 12 months Fair Value | $ 236 | $ 652 |
More than 12 months Fair Value | 67 | 782 |
Total Fair Value | 303 | 1,434 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2 | 9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 26 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 2 | 35 |
Entergy Arkansas [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Less than 12 months Fair Value | 51.5 | 65.8 |
More than 12 months Fair Value | 21 | 231.1 |
Total Fair Value | 72.5 | 296.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.8 | 0.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0.1 | 7.7 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0.9 | 8.2 |
Entergy Louisiana [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Less than 12 months Fair Value | 49.3 | 170.1 |
More than 12 months Fair Value | 12.9 | 145.8 |
Total Fair Value | 62.2 | 315.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.3 | 2.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 3.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0.3 | 6 |
System Energy [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Less than 12 months Fair Value | 38.8 | 89.7 |
More than 12 months Fair Value | 4.3 | 79.8 |
Total Fair Value | 43.1 | 169.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.1 | 2.4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 3.4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 0.1 | $ 5.8 |
Decommissioning Trust Funds (Fa
Decommissioning Trust Funds (Fair Value Of Debt Securities By Contractual Maturities) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Fair value of debt securities by contractual maturities | ||
Less than 1 year | $ 165 | $ 199 |
1 year - 5 years | 870 | 1,066 |
5 years - 10 years | 636 | 544 |
10 years - 15 years | 89 | 77 |
15 years - 20 years | 98 | 78 |
20 years+ | 604 | 531 |
Total | 2,462 | 2,495 |
Entergy Arkansas [Member] | ||
Fair value of debt securities by contractual maturities | ||
Less than 1 year | 50.3 | 32.5 |
1 year - 5 years | 120.4 | 170.3 |
5 years - 10 years | 144.5 | 114 |
10 years - 15 years | 24.3 | 10.3 |
15 years - 20 years | 14.2 | 8.1 |
20 years+ | 54 | 46.1 |
Total | 407.7 | 381.3 |
Entergy Louisiana [Member] | ||
Fair value of debt securities by contractual maturities | ||
Less than 1 year | 56.6 | 31.1 |
1 year - 5 years | 138.2 | 130.5 |
5 years - 10 years | 118.4 | 111 |
10 years - 15 years | 34.7 | 29 |
15 years - 20 years | 45 | 37.1 |
20 years+ | 200.5 | 194.2 |
Total | 593.4 | 532.9 |
System Energy [Member] | ||
Fair value of debt securities by contractual maturities | ||
Less than 1 year | 11.2 | 22.8 |
1 year - 5 years | 187.7 | 188 |
5 years - 10 years | 92.7 | 73.4 |
10 years - 15 years | 3 | 5.2 |
15 years - 20 years | 5.9 | 10.2 |
20 years+ | 94.8 | 64.6 |
Total | $ 395.3 | $ 364.2 |
Income Taxes Income Taxes (Narr
Income Taxes Income Taxes (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2022 | Dec. 31, 2021 | Oct. 15, 2024 | |
Discontinued Operation, Tax Effect of Discontinued Operation | $ 29 | |||||
Entergy Arkansas [Member] | ||||||
State Effective Income Tax Rate, Percent | 6.50% | |||||
Regulatory Liability For Income Taxes - Current and Non Current | $ 25 | $ 25 | ||||
Entergy Arkansas [Member] | Subsequent Event [Member] | ||||||
State Effective Income Tax Rate, Percent | 5.90% | 6.20% | ||||
Reduction to Effective Income Tax Rate At Combined Federal and State Income Tax Rate | 0.50% | |||||
Preferred Stock, Five Point Three Seven Five Percent, Series A [Member] | Entergy Texas [Member] | ||||||
Preferred Stock, Dividend Rate, Percentage | 5.375% | 5.375% | ||||
Preferred Stock, Liquidation Preference Per Share | $ 25 | $ 25 | ||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 35 | $ 35 | ||||
Preferred Stock, Five Point Three Seven Five Percent, Series A [Member] | Entergy Texas [Member] | Subsequent Event [Member] | ||||||
Preferred Stock, Liquidation Preference Per Share | $ 25 |
Income Taxes Income Taxes (Redu
Income Taxes Income Taxes (Reduction to Regulatory Liability Due to Return of Unprotected Excess ADIT (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | $ 96 | $ 283 | $ 219 | $ 562 |
Entergy Arkansas [Member] | ||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 41 | 153 | 99 | 260 |
Entergy Louisiana [Member] | ||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 17 | 55 | 31 | 86 |
Entergy Mississippi [Member] | ||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 0 | 32 | 0 | 161 |
Entergy New Orleans [Member] | ||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 7 | 9 | 9 | 9 |
Entergy Texas [Member] | ||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | 31 | 0 | 73 | 0 |
System Energy [Member] | ||||
Reduction to regulatory liability due to return of unprotected excess accumulated deferred income taxes | $ 0 | $ 34 | $ 7 | $ 46 |
Property, Plant, And Equipment
Property, Plant, And Equipment (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Construction expenditures in accounts payable | $ 306 | $ 311 |
Entergy Arkansas [Member] | ||
Construction expenditures in accounts payable | 41.7 | 35.7 |
Entergy Louisiana [Member] | ||
Construction expenditures in accounts payable | 74 | 104.6 |
Entergy Mississippi [Member] | ||
Construction expenditures in accounts payable | 14.7 | 13.6 |
Entergy New Orleans [Member] | ||
Construction expenditures in accounts payable | 13.9 | 5.8 |
Entergy Texas [Member] | ||
Construction expenditures in accounts payable | 81.6 | 55.6 |
System Energy [Member] | ||
Construction expenditures in accounts payable | $ 24.6 | $ 26.3 |
Variable Interest Entities (Nar
Variable Interest Entities (Narrative) (Details) - Grand Gulf [Member] - System Energy [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 11.50% | ||
Payments on lease, including interest | $ 8.6 | $ 17.2 | $ 17.2 |
Revenue Recognition (Disaggrega
Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,140,575 | $ 3,104,319 | $ 8,416,367 | $ 8,496,970 |
Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,812,934 | 2,697,887 | 7,279,683 | 7,276,374 |
Natural Gas, US Regulated [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 27,269 | 26,352 | 112,916 | 112,990 |
Competitive Businesses [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 300,372 | 380,080 | 1,023,768 | 1,107,606 |
Residential [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,154,455 | 1,138,744 | 2,727,367 | 2,799,539 |
Commercial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 722,334 | 693,760 | 1,871,416 | 1,871,380 |
Industrial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 686,122 | 682,823 | 1,928,857 | 1,904,828 |
Governmental [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 61,697 | 60,647 | 172,280 | 173,949 |
Sales for Resale [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 63,082 | 76,247 | 222,834 | 214,984 |
Other Electric [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 115,352 | 42,847 | 326,771 | 289,668 |
Non-Customer [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 9,892 | 2,819 | 30,158 | 22,026 |
Non-Customer [Member] | Competitive Businesses [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17,952 | (27,683) | 100,480 | (40,854) |
Competitive Business Sales [Member] | Competitive Businesses [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 282,420 | 407,763 | 923,288 | 1,148,460 |
Billed Retail [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,624,608 | 2,575,974 | 6,699,920 | 6,749,696 |
Entergy Arkansas [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 687,526 | 568,399 | 1,776,267 | 1,614,028 |
Entergy Arkansas [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 687,526 | 568,399 | 1,776,267 | 1,614,028 |
Entergy Arkansas [Member] | Natural Gas, US Regulated [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Entergy Arkansas [Member] | Residential [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 253,627 | 250,081 | 621,208 | 644,735 |
Entergy Arkansas [Member] | Commercial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 162,564 | 119,950 | 412,697 | 334,325 |
Entergy Arkansas [Member] | Industrial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 156,024 | 126,079 | 396,515 | 335,529 |
Entergy Arkansas [Member] | Governmental [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 5,907 | 4,445 | 15,776 | 12,859 |
Entergy Arkansas [Member] | Sales for Resale [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 58,953 | 60,338 | 213,038 | 179,637 |
Entergy Arkansas [Member] | Other Electric [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 47,085 | 4,446 | 107,599 | 98,571 |
Entergy Arkansas [Member] | Non-Customer [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,366 | 3,060 | 9,434 | 8,372 |
Entergy Arkansas [Member] | Billed Retail [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 578,122 | 500,555 | 1,446,196 | 1,327,448 |
Entergy Louisiana [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,231,677 | 1,206,612 | 3,297,324 | 3,308,744 |
Entergy Louisiana [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,221,874 | 1,196,278 | 3,252,826 | 3,263,073 |
Entergy Louisiana [Member] | Natural Gas, US Regulated [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 9,803 | 10,334 | 44,498 | 45,671 |
Entergy Louisiana [Member] | Residential [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 426,012 | 408,680 | 980,443 | 972,113 |
Entergy Louisiana [Member] | Commercial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 277,071 | 272,985 | 715,983 | 719,652 |
Entergy Louisiana [Member] | Industrial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 376,595 | 393,884 | 1,108,193 | 1,114,898 |
Entergy Louisiana [Member] | Governmental [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 18,731 | 17,566 | 53,547 | 51,581 |
Entergy Louisiana [Member] | Sales for Resale [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 81,664 | 71,634 | 248,827 | 272,690 |
Entergy Louisiana [Member] | Other Electric [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 37,521 | 34,220 | 130,269 | 124,749 |
Entergy Louisiana [Member] | Non-Customer [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 4,280 | (2,691) | 15,564 | 7,390 |
Entergy Louisiana [Member] | Billed Retail [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,098,409 | 1,093,115 | 2,858,166 | 2,858,244 |
Entergy Mississippi [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 398,732 | 367,734 | 983,713 | 1,037,166 |
Entergy Mississippi [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 398,732 | 367,734 | 983,713 | 1,037,166 |
Entergy Mississippi [Member] | Natural Gas, US Regulated [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Entergy Mississippi [Member] | Residential [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 177,785 | 170,258 | 423,395 | 451,331 |
Entergy Mississippi [Member] | Commercial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 131,596 | 126,987 | 331,785 | 354,799 |
Entergy Mississippi [Member] | Industrial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 44,054 | 44,383 | 120,490 | 133,012 |
Entergy Mississippi [Member] | Governmental [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 12,551 | 11,488 | 33,108 | 33,788 |
Entergy Mississippi [Member] | Sales for Resale [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 9,569 | 7,876 | 19,377 | 21,645 |
Entergy Mississippi [Member] | Other Electric [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 20,499 | 4,079 | 47,887 | 35,055 |
Entergy Mississippi [Member] | Non-Customer [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,678 | 2,663 | 7,671 | 7,536 |
Entergy Mississippi [Member] | Billed Retail [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 365,986 | 353,116 | 908,778 | 972,930 |
Entergy New Orleans [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 194,204 | 200,182 | 533,191 | 566,903 |
Entergy New Orleans [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 176,738 | 184,164 | 464,773 | 499,584 |
Entergy New Orleans [Member] | Natural Gas, US Regulated [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17,466 | 16,018 | 68,418 | 67,319 |
Entergy New Orleans [Member] | Residential [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 81,468 | 86,014 | 192,165 | 208,821 |
Entergy New Orleans [Member] | Commercial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 56,430 | 62,428 | 156,152 | 171,224 |
Entergy New Orleans [Member] | Industrial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 8,613 | 9,655 | 24,353 | 26,493 |
Entergy New Orleans [Member] | Governmental [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 19,030 | 20,364 | 53,916 | 56,503 |
Entergy New Orleans [Member] | Sales for Resale [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 6,876 | 4,863 | 25,680 | 24,390 |
Entergy New Orleans [Member] | Other Electric [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,537 | (1,107) | 8,093 | 7,404 |
Entergy New Orleans [Member] | Non-Customer [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,784 | 1,947 | 4,414 | 4,749 |
Entergy New Orleans [Member] | Billed Retail [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 165,541 | 178,461 | 426,586 | 463,041 |
Entergy Texas [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 442,877 | 477,231 | 1,146,931 | 1,229,657 |
Entergy Texas [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 442,877 | 477,231 | 1,146,931 | 1,229,657 |
Entergy Texas [Member] | Natural Gas, US Regulated [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 |
Entergy Texas [Member] | Residential [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 215,563 | 223,711 | 510,156 | 522,539 |
Entergy Texas [Member] | Commercial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 94,673 | 111,409 | 254,799 | 291,380 |
Entergy Texas [Member] | Industrial [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 100,836 | 108,823 | 279,306 | 294,896 |
Entergy Texas [Member] | Governmental [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 5,478 | 6,785 | 15,933 | 19,218 |
Entergy Texas [Member] | Sales for Resale [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 16,704 | 23,290 | 48,251 | 71,828 |
Entergy Texas [Member] | Other Electric [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 9,177 | 2,735 | 37,329 | 28,468 |
Entergy Texas [Member] | Non-Customer [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 446 | 478 | 1,157 | 1,328 |
Entergy Texas [Member] | Billed Retail [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 416,550 | 450,728 | 1,060,194 | 1,128,033 |
System Energy [Member] | Electricity [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 145,472 | $ 78,965 | $ 424,585 | $ 339,864 |
Asset Retirement Obligations _2
Asset Retirement Obligations Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Mar. 31, 2019 |
Entergy Louisiana [Member] | ||
Increase in decommissioning liability | $ 147.5 | |
Entergy Arkansas [Member] | ||
Increase in decommissioning liability | $ 126.2 |
Leases Leases (Narrative) (Deta
Leases Leases (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Mar. 31, 2016 | Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 31, 2019 | Dec. 31, 2015 | Dec. 31, 1989 | Dec. 31, 1988 | |
Short-term Lease, Cost | $ 15,000 | $ 15,000 | ||||||||
Operating Lease, Right-of-Use Asset | 236,000,000 | 236,000,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | $ 263,000,000 | |||||||||
Operating Leases, Rent Expense, Net | $ 47,800,000 | $ 53,100,000 | $ 44,400,000 | |||||||
Finance Lease, Right-of-Use Asset | 60,000,000 | 60,000,000 | ||||||||
Entergy Arkansas [Member] | ||||||||||
Operating Lease, Right-of-Use Asset | 49,503,000 | 49,503,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 59,000,000 | |||||||||
Operating Leases, Rent Expense, Net | 6,200,000 | 7,500,000 | 8,000,000 | |||||||
Payments For Railcar Operating Lease | 2,800,000 | 4,000,000 | 3,400,000 | |||||||
Finance Lease, Right-of-Use Asset | 11,094,000 | 11,094,000 | ||||||||
Entergy Louisiana [Member] | ||||||||||
Short-term Lease, Cost | 15,000 | 15,000 | ||||||||
Operating Lease, Right-of-Use Asset | 34,248,000 | 34,248,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 51,000,000 | |||||||||
Operating Leases, Rent Expense, Net | $ 20,200,000 | 23,000,000 | 17,800,000 | |||||||
Percentage Of Capacity And Energy Purchased Under Purchased Power Agreement | 50.00% | |||||||||
Cash payment representing the purchase price to acquire the undivided interests in Waterford 3 | $ 60,000,000 | |||||||||
Portion of Waterford 3 purchase price satisfied through issuance of debt | $ 52,000,000 | |||||||||
Payments For Railcar Operating Lease | $ 400,000 | 300,000 | 300,000 | |||||||
Finance Lease, Right-of-Use Asset | 16,795,000 | 16,795,000 | ||||||||
Entergy Mississippi [Member] | ||||||||||
Operating Lease, Right-of-Use Asset | 18,149,000 | 18,149,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 26,000,000 | |||||||||
Operating Leases, Rent Expense, Net | 4,600,000 | 5,600,000 | 4,000,000 | |||||||
Oil Tank Facilities Lease Payments | 100,000 | 1,600,000 | 1,600,000 | |||||||
Finance Lease, Right-of-Use Asset | 6,994,000 | 6,994,000 | ||||||||
Entergy New Orleans [Member] | ||||||||||
Operating Lease, Right-of-Use Asset | 3,894,000 | 3,894,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | 7,000,000 | |||||||||
Operating Leases, Rent Expense, Net | 2,500,000 | 2,500,000 | 900,000 | |||||||
Finance Lease, Right-of-Use Asset | 2,913,000 | 2,913,000 | ||||||||
Entergy Texas [Member] | ||||||||||
Operating Lease, Right-of-Use Asset | 13,074,000 | 13,074,000 | ||||||||
Operating and Finance Lease Right of Use Asset and Lease Liabilities at Implementation | $ 16,000,000 | |||||||||
Operating Leases, Rent Expense, Net | $ 3,100,000 | 3,400,000 | 2,800,000 | |||||||
Percent of minimum payments | 100.00% | |||||||||
Capacity expense under purchase power agreements accounted for as operating leases | $ 30,500,000 | 34,100,000 | 26,100,000 | |||||||
Finance Lease, Right-of-Use Asset | $ 5,515,000 | $ 5,515,000 | ||||||||
System Energy [Member] | ||||||||||
Operating Leases, Rent Expense, Net | 1,900,000 | 2,200,000 | $ 1,600,000 | |||||||
Grand Gulf [Member] | System Energy [Member] | ||||||||||
Sale Leaseback Transaction, Net Book Value | $ 500,000,000 | |||||||||
Regulatory Assets | 0 | |||||||||
Regulatory Liabilities | $ 55,600,000 | $ 55,600,000 | ||||||||
Waterford Three [Member] | Entergy Louisiana [Member] | ||||||||||
Liability related to undivided interests in Waterford 3 | $ 62,700,000 | |||||||||
Reduced liability related to undivided interests in Waterford 3 | 60,000,000 | |||||||||
Reduction in liability related to undivided interest in Waterford 3 recorded as credit to interest expense | $ 2,700,000 | |||||||||
Implicit Rate Of Future Minimum Lease Payments | 8.09% | |||||||||
Minimum Lease Payments, Sale Leaseback Transactions | $ 57,500,000 | |||||||||
Interest Portion of Minimum Lease Payments, Sale Leaseback Transactions | $ 2,300,000 | |||||||||
Sale Leaseback Transaction, Net Book Value | $ 353,600,000 |
Leases Leases (Lease, Cost) (De
Leases Leases (Lease, Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Short-term Lease, Cost | $ 15 | $ 15 |
Operating Lease, Expense | 16,086 | 47,061 |
Finance Lease, Right-of-Use Asset, Amortization | 2,945 | 10,837 |
Finance Lease, Interest Expense | 763 | 2,597 |
Entergy Arkansas [Member] | ||
Operating Lease, Expense | 3,306 | 9,724 |
Finance Lease, Right-of-Use Asset, Amortization | 621 | 2,448 |
Finance Lease, Interest Expense | 105 | 408 |
Entergy Louisiana [Member] | ||
Short-term Lease, Cost | 15 | 15 |
Operating Lease, Expense | 3,003 | 8,854 |
Finance Lease, Right-of-Use Asset, Amortization | 1,014 | 4,014 |
Finance Lease, Interest Expense | 161 | 612 |
Entergy Mississippi [Member] | ||
Operating Lease, Expense | 1,752 | 5,220 |
Finance Lease, Right-of-Use Asset, Amortization | 369 | 1,408 |
Finance Lease, Interest Expense | 65 | 241 |
Entergy New Orleans [Member] | ||
Operating Lease, Expense | 349 | 1,058 |
Finance Lease, Right-of-Use Asset, Amortization | 178 | 696 |
Finance Lease, Interest Expense | 29 | 114 |
Entergy Texas [Member] | ||
Operating Lease, Expense | 1,074 | 3,135 |
Finance Lease, Right-of-Use Asset, Amortization | 335 | 965 |
Finance Lease, Interest Expense | $ 54 | $ 153 |
Leases Leases (Lease, Assets) (
Leases Leases (Lease, Assets) (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Operating Lease, Right-of-Use Asset | $ 236,000 |
Finance Lease, Right-of-Use Asset | 60,000 |
Entergy Arkansas [Member] | |
Operating Lease, Right-of-Use Asset | 49,503 |
Finance Lease, Right-of-Use Asset | 11,094 |
Entergy Louisiana [Member] | |
Operating Lease, Right-of-Use Asset | 34,248 |
Finance Lease, Right-of-Use Asset | 16,795 |
Entergy Mississippi [Member] | |
Operating Lease, Right-of-Use Asset | 18,149 |
Finance Lease, Right-of-Use Asset | 6,994 |
Entergy New Orleans [Member] | |
Operating Lease, Right-of-Use Asset | 3,894 |
Finance Lease, Right-of-Use Asset | 2,913 |
Entergy Texas [Member] | |
Operating Lease, Right-of-Use Asset | 13,074 |
Finance Lease, Right-of-Use Asset | $ 5,515 |
Leases Leases (Lease, Liabiliti
Leases Leases (Lease, Liabilities) (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Operating Lease, Liability, Current | $ 52,348 |
Finance Lease, Liability, Current | 11,482 |
Operating Lease, Liability, Noncurrent | 184,404 |
Finance Lease, Liability, Noncurrent | 53,252 |
Entergy Arkansas [Member] | |
Operating Lease, Liability, Current | 10,662 |
Finance Lease, Liability, Current | 2,600 |
Operating Lease, Liability, Noncurrent | 38,881 |
Finance Lease, Liability, Noncurrent | 8,665 |
Entergy Louisiana [Member] | |
Operating Lease, Liability, Current | 9,969 |
Finance Lease, Liability, Current | 3,860 |
Operating Lease, Liability, Noncurrent | 24,289 |
Finance Lease, Liability, Noncurrent | 12,925 |
Entergy Mississippi [Member] | |
Operating Lease, Liability, Current | 6,137 |
Finance Lease, Liability, Current | 1,473 |
Operating Lease, Liability, Noncurrent | 12,254 |
Finance Lease, Liability, Noncurrent | 5,521 |
Entergy New Orleans [Member] | |
Operating Lease, Liability, Current | 1,138 |
Finance Lease, Liability, Current | 626 |
Operating Lease, Liability, Noncurrent | 2,755 |
Finance Lease, Liability, Noncurrent | 2,286 |
Entergy Texas [Member] | |
Operating Lease, Liability, Current | 3,427 |
Finance Lease, Liability, Current | 1,252 |
Operating Lease, Liability, Noncurrent | 9,689 |
Finance Lease, Liability, Noncurrent | $ 4,221 |
Leases Leases (Lease, Terms and
Leases Leases (Lease, Terms and Discount Rate) (Details) | Sep. 30, 2019 |
Operating Lease, Weighted Average Remaining Lease Term | 5 years 1 month 6 days |
Finance Lease, Weighted Average Remaining Lease Term | 6 years 9 months 14 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.91% |
Finance Lease, Weighted Average Discount Rate, Percent | 4.67% |
Entergy Arkansas [Member] | |
Operating Lease, Weighted Average Remaining Lease Term | 6 years 1 month 2 days |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 5 months 8 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.75% |
Finance Lease, Weighted Average Discount Rate, Percent | 3.75% |
Entergy Louisiana [Member] | |
Operating Lease, Weighted Average Remaining Lease Term | 4 years 3 months 10 days |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 4 months 28 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.74% |
Finance Lease, Weighted Average Discount Rate, Percent | 3.75% |
Entergy Mississippi [Member] | |
Operating Lease, Weighted Average Remaining Lease Term | 4 years 7 months 24 days |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 4 months 28 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.77% |
Finance Lease, Weighted Average Discount Rate, Percent | 3.71% |
Entergy New Orleans [Member] | |
Operating Lease, Weighted Average Remaining Lease Term | 3 years 11 months 26 days |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 8 months 19 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.94% |
Finance Lease, Weighted Average Discount Rate, Percent | 3.93% |
Entergy Texas [Member] | |
Operating Lease, Weighted Average Remaining Lease Term | 4 years 5 months 26 days |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 3 months |
Operating Lease, Weighted Average Discount Rate, Percent | 3.86% |
Finance Lease, Weighted Average Discount Rate, Percent | 3.84% |
Leases Leases (Lease, Maturity)
Leases Leases (Lease, Maturity) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Operating Lease, Weighted Average Remaining Lease Term | 5 years 1 month 6 days | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 16,088 | |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 3,608 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 59,965 | $ 31,876 |
Finance Lease, Liability, Payments, Due Year Two | 13,521 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 53,791 | 32,609 |
Finance Lease, Liability, Payments, Due Year Three | 11,973 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 45,391 | 10,180 |
Finance Lease, Liability, Payments, Due Year Four | 10,775 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 35,050 | |
Finance Lease, Liability, Payments, Due Year Five | 9,664 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 56,906 | |
Finance Lease, Liability, Payments, Due after Year Five | 26,889 | |
Lessee, Operating Lease, Liability, Payments, Due | 267,191 | 105,824 |
Operating Lease, Cost | 30,438 | |
Finance Lease, Liability, Payments, Due | 76,430 | |
Finance Lease, Interest Payment on Liability | 11,696 | |
Present Value Net Minimum Operating Lease Payments | 236,753 | |
Present Value Net Minimum Financing Lease Payments | $ 64,734 | |
Finance Lease, Weighted Average Remaining Lease Term | 6 years 9 months 14 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.91% | |
Finance Lease, Weighted Average Discount Rate, Percent | 4.67% | |
Entergy Arkansas [Member] | ||
Operating Lease, Weighted Average Remaining Lease Term | 6 years 1 month 2 days | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 3,168 | |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 713 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 11,756 | |
Finance Lease, Liability, Payments, Due Year Two | 2,654 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 9,911 | |
Finance Lease, Liability, Payments, Due Year Three | 2,258 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 7,613 | |
Finance Lease, Liability, Payments, Due Year Four | 1,969 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 6,341 | |
Finance Lease, Liability, Payments, Due Year Five | 1,728 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 16,421 | |
Finance Lease, Liability, Payments, Due after Year Five | 2,905 | |
Lessee, Operating Lease, Liability, Payments, Due | 55,210 | |
Operating Lease, Cost | 5,667 | |
Finance Lease, Liability, Payments, Due | 12,227 | |
Finance Lease, Interest Payment on Liability | 961 | |
Present Value Net Minimum Operating Lease Payments | 49,543 | |
Present Value Net Minimum Financing Lease Payments | $ 11,266 | |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 5 months 8 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.75% | |
Finance Lease, Weighted Average Discount Rate, Percent | 3.75% | |
Entergy Louisiana [Member] | ||
Operating Lease, Weighted Average Remaining Lease Term | 4 years 3 months 10 days | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 2,863 | |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 1,135 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 10,518 | |
Finance Lease, Liability, Payments, Due Year Two | 4,191 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 8,787 | |
Finance Lease, Liability, Payments, Due Year Three | 3,536 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 6,068 | |
Finance Lease, Liability, Payments, Due Year Four | 3,096 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 4,079 | |
Finance Lease, Liability, Payments, Due Year Five | 2,635 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 4,702 | |
Finance Lease, Liability, Payments, Due after Year Five | 3,818 | |
Lessee, Operating Lease, Liability, Payments, Due | 37,017 | |
Operating Lease, Cost | 2,759 | |
Finance Lease, Liability, Payments, Due | 18,411 | |
Finance Lease, Interest Payment on Liability | 1,626 | |
Present Value Net Minimum Operating Lease Payments | 34,258 | |
Present Value Net Minimum Financing Lease Payments | $ 16,785 | |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 4 months 28 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.74% | |
Finance Lease, Weighted Average Discount Rate, Percent | 3.75% | |
Entergy Mississippi [Member] | ||
Operating Lease, Weighted Average Remaining Lease Term | 4 years 7 months 24 days | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 1,968 | |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 429 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 6,066 | |
Finance Lease, Liability, Payments, Due Year Two | 1,655 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 4,937 | |
Finance Lease, Liability, Payments, Due Year Three | 1,490 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 3,503 | |
Finance Lease, Liability, Payments, Due Year Four | 1,297 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 1,376 | |
Finance Lease, Liability, Payments, Due Year Five | 1,078 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 2,642 | |
Finance Lease, Liability, Payments, Due after Year Five | 1,740 | |
Lessee, Operating Lease, Liability, Payments, Due | 20,492 | |
Operating Lease, Cost | 2,101 | |
Finance Lease, Liability, Payments, Due | 7,689 | |
Finance Lease, Interest Payment on Liability | 695 | |
Present Value Net Minimum Operating Lease Payments | 18,391 | |
Present Value Net Minimum Financing Lease Payments | $ 6,994 | |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 4 months 28 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.77% | |
Finance Lease, Weighted Average Discount Rate, Percent | 3.71% | |
Entergy New Orleans [Member] | ||
Operating Lease, Weighted Average Remaining Lease Term | 3 years 11 months 26 days | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 332 | |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 204 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 1,196 | |
Finance Lease, Liability, Payments, Due Year Two | 660 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 939 | |
Finance Lease, Liability, Payments, Due Year Three | 549 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 659 | |
Finance Lease, Liability, Payments, Due Year Four | 499 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 497 | |
Finance Lease, Liability, Payments, Due Year Five | 451 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 729 | |
Finance Lease, Liability, Payments, Due after Year Five | 881 | |
Lessee, Operating Lease, Liability, Payments, Due | 4,352 | |
Operating Lease, Cost | 459 | |
Finance Lease, Liability, Payments, Due | 3,244 | |
Finance Lease, Interest Payment on Liability | 332 | |
Present Value Net Minimum Operating Lease Payments | 3,893 | |
Present Value Net Minimum Financing Lease Payments | $ 2,912 | |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 8 months 19 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.94% | |
Finance Lease, Weighted Average Discount Rate, Percent | 3.93% | |
Entergy Texas [Member] | ||
Operating Lease, Weighted Average Remaining Lease Term | 4 years 5 months 26 days | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 1,022 | |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 375 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 4,014 | 31,876 |
Finance Lease, Liability, Payments, Due Year Two | 1,364 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 3,279 | 32,609 |
Finance Lease, Liability, Payments, Due Year Three | 1,171 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 2,338 | 10,180 |
Finance Lease, Liability, Payments, Due Year Four | 965 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 1,994 | |
Finance Lease, Liability, Payments, Due Year Five | 827 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 2,193 | |
Finance Lease, Liability, Payments, Due after Year Five | 1,316 | |
Lessee, Operating Lease, Liability, Payments, Due | 14,840 | $ 105,824 |
Operating Lease, Cost | 1,724 | |
Finance Lease, Liability, Payments, Due | 6,018 | |
Finance Lease, Interest Payment on Liability | 545 | |
Present Value Net Minimum Operating Lease Payments | 13,116 | |
Present Value Net Minimum Financing Lease Payments | $ 5,473 | |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 3 months | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.86% | |
Finance Lease, Weighted Average Discount Rate, Percent | 3.84% |
Leases Leases (Operating And Ca
Leases Leases (Operating And Capital Leases Future Minimum Payments Due) (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 94,043 |
Capital Leases, Future Minimum Payments Due, Next Twelve Months | 2,887 |
Operating Leases, Future Minimum Payments, Due in Two Years | 82,191 |
Capital Leases, Future Minimum Payments Due in Two Years | 2,887 |
Operating Leases, Future Minimum Payments, Due in Three Years | 75,147 |
Capital Leases, Future Minimum Payments Due in Three Years | 2,887 |
Operating Leases, Future Minimum Payments, Due in Four Years | 60,808 |
Capital Leases, Future Minimum Payments Due in Four Years | 2,887 |
Operating Leases, Future Minimum Payments, Due in Five Years | 47,391 |
Capital Leases, Future Minimum Payments Due in Five Years | 2,887 |
Operating Leases, Future Minimum Payments, Due Thereafter | 88,004 |
Capital Leases, Future Minimum Payments Due Thereafter | 16,117 |
Operating Leases, Future Minimum Payments Due | 447,584 |
Capital Leases, Future Minimum Payments Due | 30,552 |
Capital Leases, Future Minimum Payments, Interest Included in Payments | 8,555 |
Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments | 21,997 |
Entergy Arkansas [Member] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 20,421 |
Operating Leases, Future Minimum Payments, Due in Two Years | 13,918 |
Operating Leases, Future Minimum Payments, Due in Three Years | 11,931 |
Operating Leases, Future Minimum Payments, Due in Four Years | 9,458 |
Operating Leases, Future Minimum Payments, Due in Five Years | 7,782 |
Operating Leases, Future Minimum Payments, Due Thereafter | 23,297 |
Operating Leases, Future Minimum Payments Due | 86,807 |
Entergy Louisiana [Member] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 25,970 |
Operating Leases, Future Minimum Payments, Due in Two Years | 21,681 |
Operating Leases, Future Minimum Payments, Due in Three Years | 19,514 |
Operating Leases, Future Minimum Payments, Due in Four Years | 15,756 |
Operating Leases, Future Minimum Payments, Due in Five Years | 12,092 |
Operating Leases, Future Minimum Payments, Due Thereafter | 22,003 |
Operating Leases, Future Minimum Payments Due | 117,016 |
Entergy Mississippi [Member] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 9,344 |
Operating Leases, Future Minimum Payments, Due in Two Years | 8,763 |
Operating Leases, Future Minimum Payments, Due in Three Years | 7,186 |
Operating Leases, Future Minimum Payments, Due in Four Years | 5,675 |
Operating Leases, Future Minimum Payments, Due in Five Years | 2,946 |
Operating Leases, Future Minimum Payments, Due Thereafter | 4,417 |
Operating Leases, Future Minimum Payments Due | 38,331 |
Entergy New Orleans [Member] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 2,493 |
Operating Leases, Future Minimum Payments, Due in Two Years | 2,349 |
Operating Leases, Future Minimum Payments, Due in Three Years | 1,901 |
Operating Leases, Future Minimum Payments, Due in Four Years | 1,314 |
Operating Leases, Future Minimum Payments, Due in Five Years | 1,043 |
Operating Leases, Future Minimum Payments, Due Thereafter | 2,323 |
Operating Leases, Future Minimum Payments Due | 11,423 |
Entergy Texas [Member] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 5,744 |
Operating Leases, Future Minimum Payments, Due in Two Years | 4,431 |
Operating Leases, Future Minimum Payments, Due in Three Years | 3,625 |
Operating Leases, Future Minimum Payments, Due in Four Years | 2,218 |
Operating Leases, Future Minimum Payments, Due in Five Years | 1,561 |
Operating Leases, Future Minimum Payments, Due Thereafter | 2,726 |
Operating Leases, Future Minimum Payments Due | $ 20,305 |
Leases Leases (Schedule of Rent
Leases Leases (Schedule of Rent Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Leases, Rent Expense, Net | $ 47.8 | $ 53.1 | $ 44.4 |
Entergy Arkansas [Member] | |||
Operating Leases, Rent Expense, Net | 6.2 | 7.5 | 8 |
Entergy Louisiana [Member] | |||
Operating Leases, Rent Expense, Net | 20.2 | 23 | 17.8 |
Entergy Mississippi [Member] | |||
Operating Leases, Rent Expense, Net | 4.6 | 5.6 | 4 |
Entergy New Orleans [Member] | |||
Operating Leases, Rent Expense, Net | 2.5 | 2.5 | 0.9 |
Entergy Texas [Member] | |||
Operating Leases, Rent Expense, Net | 3.1 | 3.4 | 2.8 |
System Energy [Member] | |||
Operating Leases, Rent Expense, Net | $ 1.9 | $ 2.2 | $ 1.6 |
Leases Leases (Purchase Power A
Leases Leases (Purchase Power Agreement Minimum Lease Payments) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 31,159 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | $ 59,965 | 31,876 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 53,791 | 32,609 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 45,391 | 10,180 |
Lessee, Operating Lease, Liability, Payments, Due | 267,191 | 105,824 |
Entergy Texas [Member] | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 31,159 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 4,014 | 31,876 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 3,279 | 32,609 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 2,338 | 10,180 |
Lessee, Operating Lease, Liability, Payments, Due | 14,840 | $ 105,824 |
Entergy Louisiana [Member] | ||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 10,518 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 8,787 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 6,068 | |
Lessee, Operating Lease, Liability, Payments, Due | $ 37,017 |
Leases Leases (Present Value Of
Leases Leases (Present Value Of future Minimum Lease Payments Sale Leaseback Transactions) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Long-term Debt, Fair Value | $ 18,628,268 | $ 18,628,268 | $ 15,880,239 | ||
Interest Expense, Debt | 201,412 | $ 195,311 | 603,517 | $ 570,548 | |
Entergy Arkansas [Member] | |||||
Long-term Debt, Fair Value | 3,621,073 | 3,621,073 | 3,002,627 | ||
Interest Expense, Debt | 35,454 | 31,632 | 104,664 | 92,315 | |
Entergy Louisiana [Member] | |||||
Long-term Debt, Fair Value | 8,038,675 | 8,038,675 | 6,834,134 | ||
Interest Expense, Debt | 78,350 | 73,084 | 230,684 | 216,762 | |
Entergy Mississippi [Member] | |||||
Long-term Debt, Fair Value | 1,586,199 | 1,586,199 | 1,276,452 | ||
Interest Expense, Debt | 15,922 | 13,950 | 45,804 | 41,916 | |
Entergy New Orleans [Member] | |||||
Long-term Debt, Fair Value | 522,688 | 522,688 | 491,569 | ||
Interest Expense, Debt | 6,046 | 5,388 | 18,001 | 15,936 | |
Entergy Texas [Member] | |||||
Long-term Debt, Fair Value | 2,128,842 | 2,128,842 | 1,528,828 | ||
Interest Expense, Debt | 21,379 | 21,760 | 63,992 | 65,646 | |
System Energy [Member] | |||||
Long-term Debt, Fair Value | 554,374 | 554,374 | 596,123 | ||
Interest Expense, Debt | $ 8,546 | $ 9,753 | $ 26,467 | $ 28,734 | |
Grand Gulf [Member] | System Energy [Member] | |||||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 17,188 | ||||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 17,188 | ||||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 17,188 | ||||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 17,188 | ||||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 17,188 | ||||
Long-term Debt, Maturities, Repayments of Principal after Year Five | 223,437 | ||||
Long-term Debt, Fair Value | 309,377 | ||||
Interest Expense, Debt | 275,025 | ||||
Long-term Debt | $ 34,352 |
Dispositions Dispositions (Narr
Dispositions Dispositions (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | ||||
Aug. 31, 2019 | Sep. 30, 2019 | Mar. 31, 2019 | Jan. 31, 2019 | Dec. 31, 2018 | Jul. 31, 2018 | |
Business Acquisition [Line Items] | ||||||
Amount Drawn/ Outstanding | $ 155,000,000 | |||||
Discontinued Operation, Tax Effect of Discontinued Operation | $ 29,000,000 | |||||
Restructuring Costs and Asset Impairment Charges | 5,400,000 | |||||
After-Tax Asset Impairment Charge | $ 4,200,000 | |||||
Public Utilities, Property, Plant and Equipment, Other Property, Plant and Equipment | 52,705,142,000 | $ 49,831,486,000 | ||||
Entergy Nuclear Vermont Yankee [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Percentage of Undivided Ownership Interest | 100.00% | |||||
Amount Drawn/ Outstanding | 139,000,000 | $ 139,000,000 | ||||
Entergy Nuclear Generation Company [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Percentage of Undivided Ownership Interest | 100.00% | |||||
Proceeds from Divestiture of Businesses | $ 1,000 | |||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 191,000,000 | |||||
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes | $ 156,000,000 | |||||
Decommissioning Fund Investments, Fair Value | 1,030,000,000 | |||||
Asset Retirement Obligation | 837,000,000 | |||||
Public Utilities, Property, Plant and Equipment, Other Property, Plant and Equipment | $ 0 |
Uncategorized Items - etr-09x30
Label | Element | Value |
Common Stock [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | $ 2,616,000 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | 2,548,000 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
Additional Paid-in Capital [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | 5,951,431,000 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | 5,433,433,000 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
Retained Earnings [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | 8,727,956,000 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | 8,553,959,000 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 576,257,000 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 6,806,000 |
AOCI Attributable to Parent [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | (563,979,000) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | (656,148,000) |
Treasury Stock [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | (5,273,719,000) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | (5,397,637,000) |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
Subsidiaries Preferred Stock [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | 0 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | 0 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | 0 |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | $ 0 |