Entergy Statistical Report
and Investor Guide
2022
We have assembled the statistics and facts in this report to support your review and analysis of Entergy’s results over the last three years. Please note that calculations may differ due to rounding.
Our vision: we power life | ||
Our mission: We exist to grow a world-class energy business that creates sustainable value for our customers, employees, communities and owners. | ||
Entergy is a Fortune 500 company that powers life for 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi, and Texas. We’re investing in the reliability and resilience of the energy system while helping our region transition to cleaner, more efficient energy solutions. With roots in our communities for more than 100 years, Entergy is a nationally recognized leader in sustainability and corporate citizenship. Since 2018, we have delivered more than $100 million in economic benefits each year to local communities through philanthropy, volunteerism, and advocacy. Entergy is headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. |
TABLE OF CONTENTS | Note: The Excel Tab labels correspond to the page numbers | |||||||||||||
in the PDF version of the 2022 report. | ||||||||||||||
Excel Tab | Excel Tab | |||||||||||||
ABOUT THIS PUBLICATION | Page 2 | Utility Securities Detail | Pages 33 – 36 | |||||||||||
FORWARD-LOOKING INFORMATION | Page 2 | Utility Long-Term Debt and Preferred Stock | Page 33 | |||||||||||
REGULATION G COMPLIANCE | Page 2 | Entergy Arkansas, LLC | Page 33 | |||||||||||
ENTERGY AT A GLANCE | Pages 3 – 4 | Entergy Utility Holding Company, LLC | Page 33 | |||||||||||
Entergy Louisiana, LLC | Page 34 | |||||||||||||
ENTERGY CORPORATION AND SUBSIDIARIES | Entergy Mississippi, LLC | Page 35 | ||||||||||||
Selected Financial and Operating Data | Page 5 | Entergy New Orleans, LLC | Page 35 | |||||||||||
Selected Financial Data | Page 5 | Entergy Texas, Inc. | Page 36 | |||||||||||
Utility Electric Operating Data | Page 5 | System Energy Resources, Inc. | Page 36 | |||||||||||
Entergy Wholesale Commodities Operating Data | Page 5 | Utility Statistical Information | Pages 37 – 49 | |||||||||||
Employees | Page 5 | Utility Total Capability | Page 37 | |||||||||||
Owned and Leased Capability | Page 5 | Utility Selected Operating Data | Page 37 | |||||||||||
Consolidated Quarterly Financial Metrics | Page 6 | Utility Electric Statisitcal Information | Page 38 | |||||||||||
Consolidated Annual Financial Metrics | Page 6 | Entergy Arkansas, LLC | Pages 39 – 40 | |||||||||||
Financial Results | Page 7 | Entergy Louisiana, LLC | Pages 41 – 42 | |||||||||||
GAAP to Non-GAAP Reconciliations: | Page 7 | Entergy Mississippi, LLC | Pages 43 – 44 | |||||||||||
Consolidated Quarterly Results | Page 7 | Entergy New Orleans, LLC | Pages 45 – 46 | |||||||||||
Consolidated Quarterly Adjustments | Pages 8 – 9 | System Energy Resources, Inc. | Page 46 | |||||||||||
Consolidated Annual Results | Page 10 | Entergy Texas, Inc. | Pages 47 – 48 | |||||||||||
Consolidated Annual Adjustments | Pages 11 – 12 | Utility Nuclear Plant Statistics | Page 49 | |||||||||||
Consolidated Income Statements | Page 13 | Individual Plant Information | Page 49 | |||||||||||
Consolidating Income Statement | Page 14 | Utility Regulatory Information | Page 50 | |||||||||||
Consolidated Balance Sheets | Pages 15 – 16 | State Regulatory Commissions | Page 50 | |||||||||||
Consolidating Balance Sheet | Pages 17 – 18 | Commission/Council Members | Page 50 | |||||||||||
Consolidated Statements of Cash Flow | Pages 19 – 20 | |||||||||||||
Cash Flow Information by Business | Page 20 | ENTERGY WHOLESALE COMMODITIES | ||||||||||||
Consolidated Statements of Changes in Equity | Page 21 | EWC Quarterly Financial Metrics | Page 51 | |||||||||||
Consolidated Statements of Comprehensive | Page 22 | EWC Annual Financial Metrics | Page 51 | |||||||||||
Income (Loss) | EWC Quarterly Operational Metrics | Page 51 | ||||||||||||
Consolidated Capital Expenditures | Page 23 | EWC Annual Operational Metrics | Page 51 | |||||||||||
Historical Capital Expenditures | Page 23 | EWC Total Capacity | Page 51 | |||||||||||
Entergy Corporation Securities Detail | Page 23 | EWC Nuclear Plant Statistics | Page 52 | |||||||||||
Entergy Corporation Long-Term Debt | Page 23 | EWC Non-Nuclear Wholesale Assets | Page 52 | |||||||||||
Securities Ratings (Outlook) | Page 23 | Plant Statistics | ||||||||||||
Preferred Member Interests | Page 23 | EWC Non-Nuclear Wholesale Assets | Page 52 | |||||||||||
UTILITY | Plant Emissions | |||||||||||||
Utility Quarterly Financial Metrics | Page 24 | EWC Non-Nuclear Assets Securities Detail | Page 53 | |||||||||||
Utility Annual Financial Metrics | Page 24 | Vermont Yankee Credit Facility | Page 53 | |||||||||||
Utility Securities Ratings (Outlook) | Page 24 | Preferred Stock | Page 53 | |||||||||||
Utility Historical Capital Expenditures | Page 24 | |||||||||||||
Utility Financial Results | Pages 25 – 30 | DEFINITIONS OF OPERATIONAL MEASURES AND | ||||||||||||
Utility Consolidating Income Statement | Page 25 | GAAP AND NON-GAAP FINANCIAL MEASURES | Page 54 | |||||||||||
Utility Consolidating Balance Sheet | Pages 26 – 27 | |||||||||||||
Utility Selected Annual Financial Metrics | Pages 28 – 30 | REG G RECONCILIATIONS | ||||||||||||
Utility Weather Analysis | Pages 31 – 32 | Financial Measures | Pages 55 – 68 | |||||||||||
INVESTOR INFORMATION | Page 69 |
ABOUT THIS PUBLICATION | ● the risk that an incident at any nuclear generation facility in the U.S. could lead to the | |||||||
This publication is unaudited and should be used in conjunction with Entergy’s 2022 | assessment of significant retrospective assessments and/or retrospective insurance | |||||||
Annual Report to Shareholders and Form 10-K filed with the Securities and Exchange | premiums as a result of Entergy’s participation in a secondary financial protection system | |||||||
Commission. It has been prepared for information purposes and is not intended for use | and a utility industry mutual insurance company; | |||||||
in connection with any sale or purchase of, or any offer to buy, any securities of Entergy | ● changes in the quality and availability of water supplies and the related regulation of | |||||||
Corporation or its subsidiaries. | water use and diversion; | |||||||
● Entergy’s ability to manage its capital projects, including by completing of projects timely | ||||||||
FORWARD-LOOKING INFORMATION | and within budget, to obtain the anticipated performance or other benefits, of such capital | |||||||
In this report and from time to time, Entergy Corporation makes statements concerning | projects, and to manage its operation and maintenance costs; | |||||||
its expectations, beliefs, plans, objectives, goals, projections, strategies, and future | ● the effects of supply chain disruptions, including those originating during COVID-19 global | |||||||
events or performance. Such statements are “forward-looking statements” within the | pandemic or driven by trade-related governmental actions, on Entergy’s ability to complete | |||||||
meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” | its capital projects in a timely and cost-effective manner; | |||||||
“will,” “could,” “project,” “believe,” “anticipate,” “intend,” "goal," "commitment," “expect,” | ● Entergy’s ability to purchase and sell assets at attractive prices and on other attractive | |||||||
“estimate,” “continue,” “potential,” “plan,” “predict,” “forecast,” and other similar words or | terms; | |||||||
expressions are intended to identify forward-looking statements but are not the only means | ● the economic climate, and particularly economic conditions in Entergy’s Utility service | |||||||
to identify these statements. Although Entergy believes that these forward-looking | area and events and circumstances that could influence economic conditions in those areas, | |||||||
statements and the underlying assumptions are reasonable, it cannot provide assurance that | including power prices and inflation, and the risk that anticipated load growth may not | |||||||
they will prove correct. Any forward-looking statement is based on information current as of | materialize; | |||||||
the date of this report and speaks only as of the date on which such statement is made. | ● changes to federal income tax laws, regulations, and interpretive guidance, including the | |||||||
Except to the extent required by the federal securities laws, Entergy undertakes no | Inflation Reduction Act of 2022, and the continued impact of the Tax Cuts and Jobs Act of | |||||||
obligation to publicly update or revise any forward-looking statements, whether as a | 2017, and any related intended or unintended consequences on financial results and future | |||||||
result of new information, future events, or otherwise. | cash flows; | |||||||
Forward-looking statements involve a number of risks and uncertainties. There are | ● the effects of Entergy’s strategies to reduce tax payments; | |||||||
factors that could cause actual results to differ materially from those expressed or | ● changes in the financial markets and regulatory requirements for the issuance of | |||||||
implied in the forward-looking statements, including (a) those factors discussed or | securities, particularly as they affect access to and cost of capital and Entergy’s ability to | |||||||
incorporated by reference in Item 1A. Risk Factors contained in the Form 10-K for | refinance existing securities, and fund investments and acquisitions; | |||||||
the year ended Dec. 31, 2022, (b) those factors discussed or incorporated by reference | ● actions of rating agencies, including changes in the ratings of debt and preferred | |||||||
in Management’s Financial Discussion and Analysis contained in the Form 10-K for the | stock, changes in general corporate ratings, and changes in the rating agencies’ ratings | |||||||
year ended Dec. 31, 2022, and (c) the following factors (in addition to others described | criteria; | |||||||
elsewhere in this report and in subsequent securities filings): | ● changes in inflation and interest rates and the impacts of inflation or a recession on our | |||||||
● resolution of pending and future rate cases and related litigation, formula rate | customers; | |||||||
proceedings and related negotiations, including various performance-based rate | ● the effects of litigation, including the outcome and resolution of the proceedings involving | |||||||
discussions, Entergy’s utility supply plan, and recovery of fuel and purchased power costs, | System Energy currently before the FERC and any appeals of FERC decisions in those | |||||||
as well as delays in cost recovery resulting from these proceedings; | proceedings; | |||||||
● regulatory and operating challenges and uncertainties and economic risks associated | ● the effects of government investigations or proceedings; | |||||||
with the Utility operating companies’ participation in MISO, including the benefits of | ● changes in technology, including (i) Entergy’s ability to implement new or emerging |
continued MISO participation, the effect of current or projected MISO market rules and | technologies, (ii) the impact of changes relating to new, developing, or alternative | |||||||
market and system conditions in the MISO markets, the absence of a minimum capacity | sources of generation such as distributed energy and energy storage, renewable energy, | |||||||
obligation for load serving entities in MISO and the consequent ability of some load serving | energy efficiency, demand side management and other measures that reduce load and | |||||||
entities to “free ride” on the energy market without paying appropriate compensation for the | government policies incentivizing development or utilization of the foregoing, and | |||||||
capacity needed to produce that energy, the allocation of MISO system transmission | (iii) competition from other companies offering products and services to Entergy’s customers | |||||||
upgrade costs, the MISO-wide base rate of return on equity allowed or any MISO-related | based on new or emerging technologies or alternative sources of generation; | |||||||
charges and credits required by the FERC, and the effect of planning decisions that MISO | ● Entergy's ability to effectively formulate and implement plans to reduce its carbon | |||||||
makes with respect to future transmission investments by the Utility operating companies; | emission rate and aggregate carbon emissions, including its commitment to achieve | |||||||
● changes in utility regulation, including with respect to retail and wholesale competition, | net-zero carbon emissions by 2050, and the potential impact on its business and financial | |||||||
the ability to recover net utility assets and other potential stranded costs, and the | condition of attempting to achieve such objectives; | |||||||
application of more stringent return on equity criteria, transmission reliability | ● the effects, including increased security costs, of threatened or actual terrorism, | |||||||
requirements or market power criteria by the FERC or the U.S. Department of Justice; | cyber-attacks or data security breaches, physical attacks on or other interference with | |||||||
● changes in the regulation or regulatory oversight of Entergy’s owned or operated nuclear | facilities or infrastructure, natural or man-made electromagnetic pulses that affect | |||||||
generating facilities,nuclear materials and fuel, and the effects of new or existing safety or | transmission or generation infrastructure, accidents, and war or a catastrophic event such as | |||||||
environmental concerns regarding nuclear power plants and fuel; | a nuclear accident or a natural gas pipeline explosion; | |||||||
● resolution of pending or future applications, and related regulatory proceedings and | ● the effects of a global or geopolitical event or pandemic, such as the ongoing COVID-19 | |||||||
litigation, for license modifications or other authorizations required of nuclear generating | global pandemic and the military activities between Russia and Ukraine, including economic | |||||||
facilities and the effect of public and political opposition on these applications, regulatory | and societal disruptions; volatility in the capital markets (and any related increased cost of | |||||||
proceedings, and litigation; | capital or any inability to access the capital markets or draw on available bank credit | |||||||
● the performance of and deliverability of power from Entergy’s generation resources, | facilities); reduced demand for electricity, particularly from commercial and industrial | |||||||
including the capacity factors at Entergy’s nuclear generating facilities; | customers; increased or unrecoverable costs; supply chain, vendor, and contractor | |||||||
● increases in costs and capital expenditures that could result from changing regulatory | disruptions, including as a result of trade-related sanctions; delays in completion of capital or | |||||||
requirements, changing economic conditions, and emerging operating and industry issues, | other construction projects, maintenance, and other operations activities, including prolonged | |||||||
and the risks related to recovery of these costs and capital expenditures from Entergy’s | or delayed outages; impacts to Entergy’s workforce availability, health, or safety; increased | |||||||
customers (especially in an increasing cost environment); | cybersecurity risks as a result of many employees telecommuting; increased late or | |||||||
● the commitment of substantial human and capital resources required for the safe and | uncollectible customer payments; regulatory delays; executive orders affecting, or increased | |||||||
reliable operation and maintenance of Entergy’s nuclear generating facilities; | regulation of, Entergy's business; changes in credit ratings or outlooks as a result of any of | |||||||
● Entergy’s ability to develop and execute on a point of view regarding future prices of | the foregoing; or other adverse impacts on Entergy’s ability to execute on its business | |||||||
electricity, natural gas, and other energy-related commodities; | strategies and initiatives or, more generally, on Entergy’s results of operations, financial | |||||||
● the prices and availability of fuel and power Entergy must purchase for its Utility | condition, and liquidity; | |||||||
customers, and Entergy’s ability to meet credit support requirements for fuel and power | ● Entergy’s ability to attract and retain talented management, directors, and employees | |||||||
supply contracts; | with specialized skills; | |||||||
● volatility and changes in markets for electricity, natural gas, uranium, emissions | ● Entergy’s ability to attract, retain and manage an appropriately qualified workforce; | |||||||
allowances, and other energy-related commodities, and the effect of those changes on | ● changes in accounting standards and corporate governance best practices; | |||||||
Entergy and its customers; | ● declines in the market prices of marketable securities and resulting funding |
● changes in law resulting from federal or state energy legislation or legislation | requirements and the effects on benefits costs for Entergy’s defined benefit pension | |||||||
subjecting energy derivatives used in hedging and risk management transactions to | and other postretirement benefit plans; | |||||||
governmental regulation; | ● future wage and employee benefits costs, including changes in discount rates and | |||||||
● changes in environmental laws and regulations, agency positions or associated | returns on benefit plan assets; | |||||||
litigation, including requirements for reduced emissions of sulfur dioxide, nitrogen oxide, | ● changes in decommissioning trust fund values or earnings or in the timing of, | |||||||
greenhouse gases, mercury, particulate matter and other regulated air emissions, heat | requirements for, or cost to decommission Entergy’s nuclear plant sites and the | |||||||
and other regulated discharges to water, waste management and disposal, remediation of | implementation of decommissioning of such sites following shutdown; | |||||||
contaminated sites, wetlands protection and permitting, and reporting and changes in costs | ● the effectiveness of Entergy’s risk management policies and procedures and the | |||||||
of compliance with environmental laws and regulations; | ability and willingness of its counterparties to satisfy their financial and performance | |||||||
● changes in laws and regulations, agency positions, or associated litigation related to | commitments; and | |||||||
protected species and associated critical habitat designations; | ● Entergy and its subsidiaries' ability to successfully execute on their business | |||||||
● the effects of changes in federal, state, or local laws and regulations, and other | strategies, including their ability to complete strategic transactions that they may | |||||||
governmental actions or policies, including changes in monetary, fiscal, tax, | undertake. | |||||||
environmental, trade/tariff, domestic purchase requirements, or energy policies and | ||||||||
related laws, regulations, and other governmental actions; | REGULATION G COMPLIANCE | |||||||
● the effects of full or partial shutdowns of the federal government or delays in obtaining | Financial performance measures shown in this report include those calculated and | |||||||
government or regulatory actions or decisions; | presented in accordance with generally accepted accounting principles (GAAP), as well | |||||||
● uncertainty regarding the establishment of interim or permanent sites for spent nuclear | as those that are considered non-GAAP measures. This report includes non-GAAP | |||||||
fuel and nuclear waste storage and disposal and the level of spent fuel and nuclear | measures of adjusted earnings; adjusted EPS; adjustments; adjusted EBITDA; adjusted | |||||||
waste disposal fees charged by the U.S. government or other providers related to such | common dividend payout ratio; adjusted ROE; gross liquidity; adjusted return on average | |||||||
sites; | member's equity; adjusted net revenue; other O&M; total debt, excluding | |||||||
● variations in weather and the occurrence of hurricanes and other storms and disasters, | securitization debt; debt to capital, excluding securitization debt; net debt to net capital, | |||||||
including uncertainties associated with efforts to remediate the effects of hurricanes, ice | excluding securitization debt; parent debt to total debt, excluding securitization debt; FFO; | |||||||
storms, or other weather events and the recovery of costs associated with restoration, | FFO to debt, excluding securitization debt; FFO to debt excluding securitization debt, return | |||||||
including accessing funded storm reserves, federal and local cost recovery mechanisms, | of unprotected excess ADIT, and severance, and retention payments associated with exit | |||||||
securitization, and insurance, as well as any related unplanned outages; | of EWC. We have prepared reconciliations of these measures to the most directly | |||||||
● effects of climate change, including the potential for increases in extreme weather events | comparable GAAP measures. Reconciliations can be found on pages 7, 10, and 55 – 68. | |||||||
and sea levels or coastal land and wetland loss; |
ENTERGY AT A GLANCE | |||||
STAKEHOLDER OBJECTIVES | |||||
Entergy's Mission: We exist to grow a world-class energy business that creates sustainable value for our four key stakeholders – our | |||||
customers, our employees, our communities, and our owners. | |||||
● For our customers, we create value by delivering top-quartile customer experiences. We work directly with customers to understand | |||||
their needs and exceed their expectations while keeping rates affordable. | |||||
● For our employees, we create value by advocating for our employees to live safe, all day, every day. We strive to earn top-quartile | |||||
organizational health scores. We provide a rewarding, engaging, diverse, and inclusive work environment with fair compensation and | |||||
benefits while also providing opportunities for career advancement. | |||||
● For our communities, we create value by achieving top-quartile social responsibility performance. We are active in economic | |||||
development, philanthropy, volunteerism, and advocacy, and we operate our business safely, resiliently, and in a socially and | |||||
environmentally responsible way. | |||||
● For our owners, we create value by delivering top-quartile total shareholder returns. We are relentless in our pursuit of opportunities | |||||
to optimize our business. | |||||
ENTERGY BY THE NUMBERS | |||||
GAAP revenues | $13.8 billion | ||||
GAAP net Income | $1.1 billion | ||||
Total assets | $58.6 billion | ||||
Utility electric customers | 3.0 million | ||||
Interconnected high-voltage transmission lines | 16,096 circuit miles | ||||
Distribution lines across the utility’s 94,000-square-mile service area | 105,864 circuit miles | ||||
Utility billed retail electric energy sales | 120,129 GWh | ||||
Employees at year-end | 11,700 | ||||
Utility owned and leased generating capability by fuel source in MW: | |||||
Modern Gas | 10,516 | ||||
Nuclear | 5,211 | ||||
Legacy Gas | 5.995 | ||||
Coal | 2,091 | ||||
Renewables | 301 |
ENTERGY AT A GLANCE | ||
UTILITY OPERATIONS | ||
The Utility business segment includes the generation, transmission, distribution, and sale of electric power, and operation of a small natural gas distribution | ||
business. | ||
● Five retail electric utilities with 3 million customers | ||
● Four states – Arkansas, Louisiana, Mississippi, and Texas | ||
● 24,075 MW generating capability | ||
● Two gas utilities with 204,000 customers | ||
ENTERGY ARKANSAS, LLC (E-AR) | ||
Entergy Arkansas generates, transmits, distributes, and sells electric power to 730,000 retail customers in Arkansas. | ||
ENTERGY LOUISIANA, LLC (E-LA) | ||
Entergy Louisiana generates, transmits, distributes, and sells electric power to 1,101,000 retail customers in Louisiana. | ||
Entergy Louisiana also provides natural gas utility service to 95,000 customers in the Baton Rouge, Louisiana area. | ||
ENTERGY MISSISSIPPI, LLC (E-MS) | ||
Entergy Mississippi generates, transmits, distributes, and sells electric power to 461,000 retail customers in Mississippi. | ||
ENTERGY NEW ORLEANS, LLC (E-NO) | ||
Entergy New Orleans generates, transmits, distributes, and sells electric power to 211,000 retail customers in New Orleans, Louisiana. | ||
Entergy New Orleans also provides natural gas utility service to 109,000 customers in the city of New Orleans. | ||
ENTERGY TEXAS, INC. (E-TX) | ||
Entergy Texas generates, transmits, distributes, and sells electric power to 499,000 retail customers in Texas. | ||
SYSTEM ENERGY RESOURCES, INC. (SERI) | ||
System Energy owns or leases 90% of the Grand Gulf 1 nuclear generating facility. System Energy sells its power and capacity from Grand Gulf 1 | ||
at wholesale to Entergy Arkansas (36%), Entergy Louisiana (14%), Entergy Mississippi (33%) and Entergy New Orleans (17%). | ||
UTILITY NUCLEAR PLANTS | ||
Entergy owns and operates five nuclear units at four plant sites to serve its regulated utility business: Arkansas Nuclear One (ANO) Units 1 and 2 near | ||
Russellville, Arkansas; Grand Gulf Nuclear Station Unit 1 in Port Gibson, Mississippi; River Bend Station in St. Francisville, Louisiana and | ||
Waterford Steam Electric Station Unit 3 in Killona, Louisiana. |
SELECTED FINANCIAL AND OPERATING DATA | ||||||||||||||||||||||||||
SELECTED FINANCIAL DATA | ||||||||||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||||||||
GAAP MEASURES | ||||||||||||||||||||||||||
Operating Revenues ($ millions) | 13,764 | 11,743 | 10,114 | |||||||||||||||||||||||
As-Reported Net Income (Loss) Attributable to Entergy Corporation ($ millions) | 1,103 | 1,118 | 1,388 | |||||||||||||||||||||||
As-Reported Earnings Per Share ($) | 5.37 | 5.54 | 6.90 | |||||||||||||||||||||||
Common Dividend Paid Per Share ($) | 4.10 | 3.86 | 3.74 | |||||||||||||||||||||||
Common Dividend Payout Ratio – As-Reported (%) | 76 | 70 | 54 | |||||||||||||||||||||||
NON-GAAP MEASURES | ||||||||||||||||||||||||||
Adjusted Earnings ($ millions) | 1,320 | 1,215 | 1,138 | |||||||||||||||||||||||
Adjusted Earnings Per Share ($) | 6.42 | 6.02 | 5.66 | |||||||||||||||||||||||
Adjustments ($ millions) | (217) | (97) | 250 | |||||||||||||||||||||||
Adjustments Per Share ($) | 1.05 | (0.48) | 1.24 | |||||||||||||||||||||||
Common Dividend Payout Ratio – Adjusted (%) | 64 | 64 | 66 | |||||||||||||||||||||||
UTILITY ELECTRIC OPERATING DATA | ||||||||||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||||||||
Retail Kilowatt-Hour Sales (millions) | 120,129 | 114,744 | 111,170 | |||||||||||||||||||||||
Peak Demand (megawatts) | 22,301 | 22,051 | 21,340 | |||||||||||||||||||||||
Retail Customers – Year End (thousands) | 3,002 | 2,984 | 2,954 | |||||||||||||||||||||||
ENTERGY WHOLESALE COMMODITIES OPERATING DATA | ||||||||||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||||||||
Billed Electric Energy Sales (gigawatt hours) | 4,570 | 11,328 | 20,581 | |||||||||||||||||||||||
EMPLOYEES | ||||||||||||||||||||||||||
2022 | 2021 | 2020 | ||||||||||||||||||||||||
Total Employees – Year End | 11,707 | 12,369 | 13,400 |
OWNED AND LEASED CAPABILITY (MW)(a) | ||||||||||||||||||||||||||
As of December 31, 2022 | ||||||||||||||||||||||||||
E-AR | E-LA | E-MS | E-NO | E-TX | SERI | EWC(b) | Total | |||||||||||||||||||
Legacy Gas/Oil | 522 | 2,766 | 707 | — | 1,960 | — | — | 5,955 | ||||||||||||||||||
CT / CCGT(c) | 1,567 | 5,595 | 1,738 | 636 | 980 | — | — | 10,516 | ||||||||||||||||||
Coal | 1,192 | 339 | 310 | — | 250 | — | 181 | 2,272 | ||||||||||||||||||
Nuclear | 1,822 | 2,129 | — | — | — | 1,260 | — | 5,211 | ||||||||||||||||||
Hydro | 73 | — | — | — | — | — | — | 73 | ||||||||||||||||||
Solar | 100 | — | 102 | 27 | — | — | — | 229 | ||||||||||||||||||
Total | 5,276 | 10,829 | 2,857 | 663 | 3,190 | 1,260 | 181 | 24,256 | ||||||||||||||||||
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary | ||||||||||||||||||||||||||
fuel (assuming no curtailments) that each station was designed to utilize. | ||||||||||||||||||||||||||
(b) The owned MW capacity is the portion of the plant capacity owned by Entergy Wholesale Commodities. | ||||||||||||||||||||||||||
(c) Represents Simple Cycle Combustion Turbine units and Combined Cycle Gas Turbine units. |
CONSOLIDATED ENTERGY CORPORATION AND SUBSIDIARIES DATA | |||||||||||||||||||||||||||||||||||
CONSOLIDATED QUARTERLY FINANCIAL METRICS | |||||||||||||||||||||||||||||||||||
2022 | 2021 | FY | |||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | |||||||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||||||||||||||
ROE – as-reported (%)(a) | 9.3 | 10.8 | 10.8 | 9.0 | 9.0 | 15.1 | 11.6 | 11.3 | 9.9 | 9.9 | (0.9) | ||||||||||||||||||||||||
Cash and cash equivalents ($ millions) | 702 | 580 | 1,003 | 224 | 224 | 1,743 | 687 | 1,000 | 443 | 443 | (220) | ||||||||||||||||||||||||
Available revolver capacity ($ millions) | 4,129 | 4,191 | 4,191 | 4,241 | 4,241 | 4,220 | 4,125 | 3,925 | 3,985 | 3,985 | 257 | ||||||||||||||||||||||||
Commercial paper ($ millions) | 1,343 | 1,398 | 1,386 | 828 | 828 | 1,028 | 866 | 1,006 | 1,201 | 1,201 | (373) | ||||||||||||||||||||||||
Total debt ($ millions) | 28,630 | 26,923 | 27,677 | 26,829 | 26,829 | 25,803 | 25,435 | 25,695 | 27,154 | 27,154 | (325) | ||||||||||||||||||||||||
Securitization debt ($ millions) | 55 | 336 | 311 | 293 | 293 | 147 | 114 | 90 | 84 | 84 | 209 | ||||||||||||||||||||||||
Debt to capital (%) | 70.5 | 69.1 | 69 | 66.9 | 66.9 | 69.6 | 69.5 | 69.1 | 69.5 | 69.5 | (2.6) | ||||||||||||||||||||||||
Off-balance sheet liabilities ($ millions) | |||||||||||||||||||||||||||||||||||
Debt of joint ventures – Entergy’s share | 5 | 3 | — | — | — | 15 | 12 | 9 | 7 | 7 | (7) | ||||||||||||||||||||||||
Total off-balance sheet liabilities | 5 | 3 | — | — | — | 15 | 12 | 9 | 7 | 7 | (7) | ||||||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||||||||||||||
ROE – adjusted (%)(a) | 10.4 | 11.3 | 11.7 | 10.7 | 10.7 | 11.3 | 11.3 | 10.9 | 10.8 | 10.8 | -0.1 | ||||||||||||||||||||||||
Gross liquidity ($ millions) | 4,830 | 4,771 | 5,195 | 4,465 | 4,465 | 5,963 | 4,812 | 4,925 | 4,428 | 4,428 | 37 | ||||||||||||||||||||||||
Net liquidity ($ millions) | 3,487 | 3,373 | 3,809 | 3,638 | 3,638 | 4,935 | 3,946 | 3,919 | 3,227 | 3,227 | 411 | ||||||||||||||||||||||||
Net liquidity, including storm escrows ($ millions) | 3,521 | 3,697 | 4,133 | 4,040 | 4,040 | 5,007 | 4,018 | 3,952 | 3,260 | 3,260 | 780 | ||||||||||||||||||||||||
Debt to capital, excluding securitization debt (%) | 70.4 | 68.8 | 69.0 | 66.9 | 66.9 | 69.5 | 69.4 | 69.0 | 69.4 | 69.4 | (2.5) | ||||||||||||||||||||||||
Net debt to net capital, excluding securitization debt (%) | 69.9 | 68.4 | 68.0 | 66.5 | 66.5 | 68.0 | 68.9 | 68.1 | 69.1 | 69.1 | (2.7) | ||||||||||||||||||||||||
Parent debt to total debt, excluding securitization debt (%) | 21.5 | 20.9 | 20.3 | 18.8 | 18.8 | 22.3 | 22.4 | 23.4 | 22.2 | 22.2 | (3.4) | ||||||||||||||||||||||||
FFO to debt, excluding securitization debt (%) | 8.7 | 10.9 | 12.2 | 12.4 | 12.4 | 8.2 | 9.8 | 9.7 | 9.4 | 9.4 | 3.0 | ||||||||||||||||||||||||
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%) | 9.3 | 11.1 | 12.6 | 12.8 | 12.8 | 8.7 | 10.8 | 10.6 | 10.1 | 10.1 | 2.7 | ||||||||||||||||||||||||
(a) Rolling twelve months. |
CONSOLIDATED ANNUAL FINANCIAL METRICS | |||||||||||
2022 | 2021 | 2020 | |||||||||
GAAP MEASURES | |||||||||||
ROE – as-reported (%) | 9.0 | 9.9 | 13.1 | ||||||||
Cash and cash equivalents ($ millions) | 224 | 443 | 1,759 | ||||||||
Available revolver capacity ($ millions) | 4,241 | 3,985 | 4,110 | ||||||||
Commercial paper ($ millions) | 828 | 1,201 | 1,627 | ||||||||
Total debt ($ millions) | 26,829 | 27,154 | 24,062 | ||||||||
Securitization debt ($ millions) | 293 | 84 | 175 | ||||||||
Debt to capital (%) | 66.9 | 69.5 | 68.3 | ||||||||
Off-balance sheet liabilities ($ millions) | |||||||||||
Debt of joint ventures – Entergy’s share | — | 7 | 17 | ||||||||
Total off-balance sheet liabilities | — | 7 | 17 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROE – adjusted (%) | 10.7 | 10.8 | 10.8 | ||||||||
Gross liquidity ($ millions) | 4,465 | 4,428 | 5,869 | ||||||||
Net liquidity ($ millions) | 3,638 | 3,227 | 4,241 | ||||||||
Net liquidity, including storm escrows ($ millions) | 4,040 | 3,260 | 4,357 | ||||||||
Debt to capital, excluding securitization debt (%) | 66.9 | 69.4 | 68.1 | ||||||||
Net debt to net capital, excluding securitization debt (%) | 66.5 | 69.1 | 66.4 | ||||||||
Parent debt to total debt, excluding securitization debt (%) | 18.8 | 22.2 | 21.6 | ||||||||
FFO to debt, excluding securitization debt (%) | 12.4 | 9.4 | 10.3 | ||||||||
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC (%) | 12.8 | 10.1 | 10.9 |
FINANCIAL RESULTS | |||||||||||||||||||||||||||||||||||
CONSOLIDATED QUARTERLY RESULTS – GAAP TO NON-GAAP RECONCILIATION | |||||||||||||||||||||||||||||||||||
2022 | 2021 | FY | |||||||||||||||||||||||||||||||||
(After-tax, $ in millions) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
AS-REPORTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 340 | 153 | 672 | 241 | 1,407 | 357 | 326 | 570 | 238 | 1,490 | (84) | ||||||||||||||||||||||||
Parent & Other | (71) | (80) | (92) | (122) | (366) | (60) | (57) | (65) | (68) | (249) | (117) | ||||||||||||||||||||||||
EWC | 7 | 87 | (19) | (12) | 63 | 38 | (275) | 26 | 89 | (123) | 186 | ||||||||||||||||||||||||
CONSOLIDATED | 276 | 160 | 561 | 106 | 1,103 | 335 | (6) | 531 | 259 | 1,118 | (15) | ||||||||||||||||||||||||
LESS ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Utility | — | (291) | — | 12 | (280) | — | — | 11 | 16 | 27 | (306) | ||||||||||||||||||||||||
Parent & Other | — | — | — | — | — | — | — | — | (1) | (1) | 1 | ||||||||||||||||||||||||
EWC | 7 | 87 | (19) | (12) | 63 | 38 | (275) | 26 | 89 | (123) | 186 | ||||||||||||||||||||||||
CONSOLIDATED | 7 | (204) | (19) | (1) | (217) | 38 | (275) | 37 | 104 | (97) | (120) | ||||||||||||||||||||||||
ADJUSTED EARNINGS (LOSS) (NON-GAAP) | |||||||||||||||||||||||||||||||||||
Utility | 340 | 444 | 672 | 229 | 1,686 | 357 | 326 | 559 | 222 | 1,464 | 223 | ||||||||||||||||||||||||
Parent & Other | (71) | (80) | (92) | (122) | (366) | (60) | (57) | (65) | (67) | (248) | (118) | ||||||||||||||||||||||||
EWC | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
CONSOLIDATED | 269 | 364 | 580 | 107 | 1,320 | 297 | 269 | 494 | 155 | 1,215 | 105 | ||||||||||||||||||||||||
Estimated Weather Impact | 16 | 50 | 21 | (1) | 86 | 23 | (15) | (9) | (21) | (21) | 107 | ||||||||||||||||||||||||
Diluted average number of common shares outstanding (in millions) | 204 | 205 | 205 | 209 | 206 | 201 | 201 | 202 | 203 | 202 | 4 | ||||||||||||||||||||||||
2022 | 2021 | FY | |||||||||||||||||||||||||||||||||
(After-tax, per share in $) (a) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
AS-REPORTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 1.67 | 0.75 | 3.29 | 1.15 | 6.84 | 1.77 | 1.62 | 2.82 | 1.17 | 7.38 | (0.54) | ||||||||||||||||||||||||
Parent & Other | (0.35) | (0.39) | (0.45) | (0.58) | (1.78) | (0.30) | (0.28) | (0.32) | (0.33) | (1.23) | (0.55) | ||||||||||||||||||||||||
EWC | 0.04 | 0.42 | (0.10) | (0.06) | 0.31 | 0.19 | (1.37) | 0.13 | 0.44 | (0.61) | 0.92 | ||||||||||||||||||||||||
CONSOLIDATED | 1.36 | 0.78 | 2.74 | 0.51 | 5.37 | 1.66 | (0.03) | 2.63 | 1.28 | 5.54 | (0.17) | ||||||||||||||||||||||||
LESS ADJUSTMENTS | |||||||||||||||||||||||||||||||||||
Utility | — | (1.42) | — | 0.06 | (1.36) | — | — | 0.05 | 0.08 | 0.13 | (1.49) | ||||||||||||||||||||||||
Parent & Other | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
EWC | 0.04 | 0.42 | (0.10) | (0.06) | 0.31 | 0.19 | (1.37) | 0.13 | 0.44 | (0.61) | 0.92 | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS | 0.04 | (1.00) | (0.10) | — | (1.05) | 0.19 | (1.37) | 0.18 | 0.52 | (0.48) | (0.57) | ||||||||||||||||||||||||
ADJUSTED EARNINGS (LOSS) | |||||||||||||||||||||||||||||||||||
Utility | 1.67 | 2.17 | 3.29 | 1.09 | 8.20 | 1.77 | 1.62 | 2.77 | 1.09 | 7.25 | 0.95 | ||||||||||||||||||||||||
Parent & Other | (0.35) | (0.39) | (0.45) | (0.58) | (1.78) | (0.30) | (0.28) | (0.32) | (0.33) | (1.23) | (0.55) | ||||||||||||||||||||||||
EWC | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
CONSOLIDATED | 1.32 | 1.78 | 2.84 | 0.51 | 6.42 | 1.47 | 1.34 | 2.45 | 0.76 | 6.02 | 0.40 | ||||||||||||||||||||||||
Estimated Weather Impact | 0.08 | 0.24 | 0.10 | — | 0.42 | 0.11 | (0.07) | (0.04) | (0.10) | (0.11) | 0.53 | ||||||||||||||||||||||||
(a) Per share amounts are calculated by dividing the corresponding earnings (loss) by the diluted average number of common shares outstanding for the period. |
FINANCIAL RESULTS | |||||||||||||||||||||||||||||||||||
CONSOLIDATED QUARTERLY ADJUSTMENTS - BY DRIVER | |||||||||||||||||||||||||||||||||||
Shown as Positive/(Negative) Impact on Earnings | |||||||||||||||||||||||||||||||||||
2022 | 2021 | FY | |||||||||||||||||||||||||||||||||
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
UTILITY | |||||||||||||||||||||||||||||||||||
E-LA and E-TX true-up for the equity component of carrying costs for 2020 storms (prior year portion) | — | 41 | — | — | 41 | — | — | — | — | — | 41 | ||||||||||||||||||||||||
E-LA contribution to the LURC related to securitization | — | (32) | — | — | (32) | — | — | — | — | — | (32) | ||||||||||||||||||||||||
E-LA customer-sharing of securitization benefit | — | (224) | — | — | (224) | — | — | — | — | — | (224) | ||||||||||||||||||||||||
SERI litigation settlement regulatory charge | — | (551) | — | — | (551) | — | — | — | — | — | (551) | ||||||||||||||||||||||||
SERI depreciation adjustment | — | — | — | 33 | 33 | — | — | — | — | — | 33 | ||||||||||||||||||||||||
Gain on sale | — | — | — | — | — | — | — | 15 | — | 15 | (15) | ||||||||||||||||||||||||
Income tax effect on Utility adjustments above | — | 192 | — | (8) | 183 | — | — | (4) | — | (4) | 187 | ||||||||||||||||||||||||
E-LA tax benefit resulting from securitization | — | 283 | — | — | 283 | — | — | — | — | — | 283 | ||||||||||||||||||||||||
SERI sale-leaseback reg. liability / DTA turnaround | — | — | — | (13) | (13) | — | — | — | — | — | (13) | ||||||||||||||||||||||||
Income tax valuation allowance | — | — | — | — | — | — | — | — | (8) | (8) | 8 | ||||||||||||||||||||||||
Provision for uncertain tax position | — | — | — | — | — | — | — | — | (5) | (5) | 5 | ||||||||||||||||||||||||
State corporate income tax rate change | — | — | — | — | — | — | — | — | 29 | 29 | (29) | ||||||||||||||||||||||||
Total | — | (291) | — | 12 | (280) | — | — | 11 | 16 | 27 | (306) | ||||||||||||||||||||||||
PARENT & OTHER | |||||||||||||||||||||||||||||||||||
State corporate income tax rate change | — | — | — | — | — | — | — | — | (1) | (1) | 1 | ||||||||||||||||||||||||
Total | — | — | — | — | — | — | — | — | (1) | (1) | 1 | ||||||||||||||||||||||||
EWC | |||||||||||||||||||||||||||||||||||
Income before income taxes | 11 | 113 | — | (4) | 119 | 54 | (346) | 35 | 112 | (146) | 265 | ||||||||||||||||||||||||
Income taxes | (3) | (25) | (18) | (8) | (54) | (16) | 72 | (9) | (22) | 25 | (80) | ||||||||||||||||||||||||
Preferred dividend requirements | (1) | (1) | (1) | (1) | (2) | (1) | (1) | (1) | (1) | (2) | — | ||||||||||||||||||||||||
Total | 7 | 87 | (19) | (12) | 63 | 38 | (275) | 26 | 89 | (123) | 186 | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS | 7 | (204) | (19) | (1) | (217) | 38 | (275) | 37 | 104 | (97) | (120) | ||||||||||||||||||||||||
2022 | 2021 | FY | |||||||||||||||||||||||||||||||||
(After-tax, per share in $) (a) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
UTILITY | |||||||||||||||||||||||||||||||||||
E-LA and E-TX true-up for the equity component of carrying costs for 2020 storms (prior year portion) | — | 0.18 | — | — | 0.17 | — | — | — | — | — | 0.17 | ||||||||||||||||||||||||
E-LA contribution to the LURC related to securitization | — | (0.15) | — | — | (0.15) | — | — | — | — | — | (0.15) | ||||||||||||||||||||||||
E-LA customer-sharing of securitization benefit | — | (0.81) | — | — | (0.81) | — | — | — | — | — | (0.81) | ||||||||||||||||||||||||
E-LA tax benefit resulting from securitization | — | 1.38 | — | — | 1.38 | — | — | — | — | — | 1.38 | ||||||||||||||||||||||||
SERI litigation settlement regulatory charge | — | (2.02) | — | — | (2.01) | — | — | — | — | — | (2.01) | ||||||||||||||||||||||||
SERI depreciation adjustment | — | — | — | 0.12 | 0.12 | — | — | — | — | — | 0.12 | ||||||||||||||||||||||||
Gain on sale | — | — | — | — | — | — | — | 0.05 | — | 0.05 | (0.05) | ||||||||||||||||||||||||
SERI sale-leaseback reg. liability / DTA turnaround | — | — | — | (0.06) | (0.06) | — | — | — | — | — | (0.06) | ||||||||||||||||||||||||
Income tax valuation allowance | — | — | — | — | — | — | — | — | (0.04) | (0.04) | 0.04 | ||||||||||||||||||||||||
Provision for uncertain tax position | — | — | — | — | — | — | — | — | (0.02) | (0.02) | 0.02 | ||||||||||||||||||||||||
State corporate income tax rate change | — | — | — | — | — | — | — | — | 0.14 | 0.14 | (0.14) | ||||||||||||||||||||||||
Total | — | (1.42) | — | 0.06 | (1.36) | — | — | 0.05 | 0.08 | 0.13 | (1.49) | ||||||||||||||||||||||||
PARENT & OTHER | |||||||||||||||||||||||||||||||||||
State corporate income tax rate change | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
EWC | |||||||||||||||||||||||||||||||||||
Total | 0.04 | 0.42 | (0.10) | (0.06) | 0.31 | 0.19 | (1.37) | 0.13 | 0.44 | (0.61) | 0.92 |
TOTAL ADJUSTMENTS | 0.04 | (1.00) | (0.10) | — | (1.05) | 0.19 | (1.37) | 0.18 | 0.52 | (0.48) | (0.57) | ||||||||||||||||||||||||
(a) Per share amounts are calculated by multiplying the corresponding earnings (loss) by the estimated income tax rate that is expected to apply and dividing by the diluted average number of common shares outstanding for the period. |
FINANCIAL RESULTS | |||||||||||||||||||||||||||||||||||
CONSOLIDATED QUARTERLY ADJUSTMENTS - BY INCOME STATEMENT LINE ITEM | |||||||||||||||||||||||||||||||||||
Shown as Positive/(Negative) Impact on Earnings | |||||||||||||||||||||||||||||||||||
2022 | 2021 | FY | |||||||||||||||||||||||||||||||||
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
UTILITY | |||||||||||||||||||||||||||||||||||
Operating revenues | — | 46 | — | — | 46 | — | — | — | — | — | 46 | ||||||||||||||||||||||||
Depreciation/amortization exp. | — | — | — | 33 | 33 | — | — | — | — | — | 33 | ||||||||||||||||||||||||
Regulatory charges (credits)-net | — | (775) | — | — | (775) | — | — | — | — | — | (775) | ||||||||||||||||||||||||
Other income (deductions) - other | — | (37) | — | — | (37) | — | — | — | — | — | (37) | ||||||||||||||||||||||||
Other O&M | — | — | — | — | — | — | — | 15 | — | 15 | (15) | ||||||||||||||||||||||||
Income taxes | — | 474 | — | (21) | 453 | — | — | (4) | 16 | 12 | 441 | ||||||||||||||||||||||||
Total | — | (291) | — | 12 | (280) | — | — | 11 | 16 | 27 | (306) | ||||||||||||||||||||||||
PARENT & OTHER | |||||||||||||||||||||||||||||||||||
Income taxes | — | — | — | — | — | — | — | — | (1) | (1) | 1 | ||||||||||||||||||||||||
Total | — | — | — | — | — | — | — | — | (1) | (1) | 1 | ||||||||||||||||||||||||
EWC | |||||||||||||||||||||||||||||||||||
Operating revenues | 150 | 89 | 62 | 43 | 343 | 248 | 149 | 162 | 139 | 698 | (355) | ||||||||||||||||||||||||
Fuel and fuel-related expenses | (26) | (25) | (30) | (18) | (98) | (21) | (17) | (24) | (20) | (83) | (16) | ||||||||||||||||||||||||
Purchased power | (14) | (26) | (24) | (20) | (83) | (18) | (18) | (22) | (15) | (73) | (11) | ||||||||||||||||||||||||
Nuclear refueling outage expense | (11) | (7) | — | — | (18) | (11) | (11) | (11) | (11) | (45) | 26 | ||||||||||||||||||||||||
Other O&M | (41) | (42) | (10) | (10) | (103) | (99) | (83) | (51) | (53) | (287) | 184 | ||||||||||||||||||||||||
Asset write-offs and impairments | (1) | 164 | — | — | 163 | (3) | (342) | — | 82 | (264) | 427 | ||||||||||||||||||||||||
Decommissioning expense | (14) | (14) | — | — | (28) | (53) | (40) | (14) | (14) | (120) | 92 | ||||||||||||||||||||||||
Taxes other than income taxes | (10) | (3) | (1) | (3) | (16) | (6) | (6) | (2) | (3) | (17) | 1 | ||||||||||||||||||||||||
Depreciation/amortization expense | (9) | (3) | (1) | (1) | (14) | (13) | (14) | (9) | (9) | (44) | 30 | ||||||||||||||||||||||||
Other income (deductions) - other | (13) | (18) | 6 | 8 | (18) | 34 | 41 | 9 | 18 | 101 | (119) | ||||||||||||||||||||||||
Interest expense and other charges | (1) | (2) | (2) | (3) | (8) | (4) | (4) | (3) | (2) | (13) | 6 | ||||||||||||||||||||||||
Income taxes | (3) | (25) | (18) | (8) | (54) | (16) | 72 | (9) | (22) | 25 | (80) | ||||||||||||||||||||||||
Preferred dividend requirements | (1) | (1) | (1) | (1) | (2) | (1) | (1) | (1) | (1) | (2) | — | ||||||||||||||||||||||||
Total | 7 | 87 | (19) | (12) | 63 | 38 | (275) | 26 | 89 | (123) | 186 | ||||||||||||||||||||||||
TOTAL ADJUSTMENTS (after-tax) | 7 | (204) | (19) | (1) | (217) | 38 | (275) | 37 | 104 | (97) | (120) |
FINANCIAL RESULTS | ||||||||||||||
CONSOLIDATED ANNUAL RESULTS – GAAP TO NON-GAAP RECONCILIATION | ||||||||||||||
(After-tax, $ in millions) | 2022 | 2021 | 2020 | |||||||||||
AS-REPORTED EARNINGS (LOSS) | ||||||||||||||
Utility | 1,407 | 1,490 | 1,800 | |||||||||||
Parent & Other | (366) | (249) | (347) | |||||||||||
EWC | 63 | (123) | (65) | |||||||||||
CONSOLIDATED | 1,103 | 1,118 | 1,388 | |||||||||||
LESS ADJUSTMENTS | ||||||||||||||
Utility | (280) | 27 | 377 | |||||||||||
Parent & Other | — | (1) | (61) | |||||||||||
EWC | 63 | (123) | (65) | |||||||||||
TOTAL ADJUSTMENTS | (217) | (97) | 250 | |||||||||||
ADJUSTED EARNINGS (LOSS) | ||||||||||||||
Utility | 1,686 | 1,464 | 1,424 | |||||||||||
Parent & Other | (366) | (248) | (286) | |||||||||||
EWC | — | — | — | |||||||||||
CONSOLIDATED | 1,320 | 1,215 | 1,138 | |||||||||||
Estimated Weather Impact | 86 | (21) | (75) | |||||||||||
Diluted average number of common shares outstanding (in millions) | 206 | 202 | 201 | |||||||||||
(After-tax, per share in $) (a) | 2022 | 2021 | 2020 | |||||||||||
AS-REPORTED EARNINGS (LOSS) | ||||||||||||||
Utility | 6.84 | 7.38 | 8.95 | |||||||||||
Parent & Other | (1.78) | (1.23) | (1.73) | |||||||||||
EWC | 0.31 | (0.61) | (0.32) | |||||||||||
CONSOLIDATED | 5.37 | 5.54 | 6.90 | |||||||||||
LESS ADJUSTMENTS | ||||||||||||||
Utility | (1.36) | 0.13 | 1.87 | |||||||||||
Parent & Other | — | — | (0.31) | |||||||||||
EWC | 0.31 | (0.61) | (0.32) | |||||||||||
TOTAL ADJUSTMENTS | (1.05) | (0.48) | 1.24 | |||||||||||
ADJUSTED EARNINGS (LOSS) | ||||||||||||||
Utility | 8.20 | 7.25 | 7.08 | |||||||||||
Parent & Other | (1.78) | (1.23) | (1.42) | |||||||||||
EWC | — | — | — | |||||||||||
ENTERGY ADJUSTED EARNINGS | 6.42 | 6.02 | 5.66 | |||||||||||
Weather Impact | 0.42 | (0.11) | (0.37) | |||||||||||
(a) Per share amounts are calculated by multiplying the corresponding earnings (loss) by the estimated income tax of common shares outstanding for | ||||||||||||||
the period. |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED ANNUAL ADJUSTMENTS - BY DRIVER | |||||||||||
Shown as Positive/(Negative) Impact on Earnings | |||||||||||
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) | 2022 | 2021 | 2020 | ||||||||
UTILITY | |||||||||||
E-LA and E-TX true-up for the equity component of carrying costs for 2020 storms (prior year portion) | 41 | — | — | ||||||||
E-LA contribution to the LURC related to securitization | (32) | — | — | ||||||||
E-LA customer-sharing of securitization benefit | (224) | — | — | ||||||||
SERI litigation settlement regulatory charge | (551) | — | — | ||||||||
SERI depreciation adjustment | 33 | — | — | ||||||||
Gain on sale | — | 15 | — | ||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | — | — | (25) | ||||||||
Income tax effect on Utility adjustments above | 183 | (4) | 6 | ||||||||
E-LA tax benefit resulting from securitization | 283 | — | — | ||||||||
SERI sale-leaseback reg. liability / DTA turnaround | (13) | — | — | ||||||||
Income tax valuation allowance | — | (8) | — | ||||||||
Provision for uncertain tax position | — | (5) | — | ||||||||
State corporate income tax rate change | — | 29 | — | ||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | 396 | ||||||||
Total | (280) | 27 | 377 | ||||||||
PARENT & OTHER | |||||||||||
State corporate income tax rate change | — | (1) | — | ||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | (61) | ||||||||
Total | — | (1) | (61) | ||||||||
EWC | |||||||||||
Income before income taxes | 119 | (146) | 42 | ||||||||
Income taxes | (54) | 25 | (105) | ||||||||
Preferred dividend requirements | (2) | (2) | (2) | ||||||||
Total | 63 | (123) | (65) | ||||||||
TOTAL ADJUSTMENTS | (217) | (97) | 250 | ||||||||
(After-tax, per share in $) (a) | 2022 | 2021 | 2020 | ||||||||
UTILITY | |||||||||||
E-LA and E-TX true-up for the equity component of carrying costs for 2020 storms (prior year portion) | 0.17 | — | — | ||||||||
E-LA contribution to the LURC related to securitization | (0.15) | — | — | ||||||||
E-LA customer-sharing of securitization benefit | (0.81) | — | — | ||||||||
E-LA tax benefit resulting from securitization | 1.38 | — | — | ||||||||
SERI litigation settlement regulatory charge | (2.01) | — | — | ||||||||
SERI depreciation adjustment | 0.12 | — | — | ||||||||
Gain on sale | — | 0.05 | — | ||||||||
SERI regulatory liability for potential refund for rate base reduction retroactive to 2015 | — | — | (0.09) | ||||||||
SERI sale-leaseback reg. liability / DTA turnaround | (0.06) | — | — | ||||||||
Income tax valuation allowance | — | (0.04) | — | ||||||||
Provision for uncertain tax position | — | (0.02) | — | ||||||||
State corporate income tax rate change | — | 0.14 | — | ||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | 1.96 | ||||||||
Total | (1.36) | 0.13 | 1.87 | ||||||||
PARENT & OTHER | |||||||||||
State corporate income tax rate change | — | — | — | ||||||||
2014 / 2015 IRS settlement - E-LA business combination | — | — | (0.31) | ||||||||
Total | — | — | (0.31) | ||||||||
EWC |
Total | 0.31 | (0.61) | (0.32) | ||||||||
TOTAL ADJUSTMENTS | (1.05) | (0.48) | 1.24 | ||||||||
(a) Per share amounts are calculated by multiplying the corresponding earnings (loss) by the estimated income tax rate that is expected to apply and dividing | |||||||||||
by the diluted average number of common shares outstanding for the period. |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED ANNUAL ADJUSTMENTS - BY INCOME STATEMENT LINE ITEM | |||||||||||
Shown as Positive/(Negative) Impact on Earnings | |||||||||||
(Pre-tax except for income taxes, preferred dividend requirements, and totals; $ millions) | 2022 | 2021 | 2020 | ||||||||
UTILITY | |||||||||||
Operating revenues | 46 | — | — | ||||||||
Depreciation/amortization exp. | 33 | — | — | ||||||||
Regulatory charges (credits)-net | (775) | — | (25) | ||||||||
Other income (deductions) - other | (37) | — | — | ||||||||
Other O&M | — | 15 | — | ||||||||
Income taxes | 453 | 12 | 402 | ||||||||
Total | (280) | 27 | 377 | ||||||||
PARENT & OTHER | |||||||||||
Income taxes | — | (1) | (61) | ||||||||
Total | — | (1) | (61) | ||||||||
EWC | |||||||||||
Operating revenues | 343 | 698 | 943 | ||||||||
Fuel and fuel-related expenses | (98) | (83) | (67) | ||||||||
Purchased power | (83) | (73) | (68) | ||||||||
Nuclear refueling outage expense | (18) | (45) | (45) | ||||||||
Other O&M | (103) | (287) | (500) | ||||||||
Asset write-offs and impairments | 163 | (264) | (27) | ||||||||
Decommissioning expense | (28) | (120) | (205) | ||||||||
Taxes other than income taxes | (16) | (17) | (53) | ||||||||
Depreciation/amortization expense | (14) | (44) | (102) | ||||||||
Other income (deductions) - other | (18) | 101 | 189 | ||||||||
Interest expense and other charges | (8) | (13) | (22) | ||||||||
Income taxes | (54) | 25 | (105) | ||||||||
Preferred dividend requirements | (2) | (2) | (2) | ||||||||
Total | 63 | (123) | (65) | ||||||||
TOTAL ADJUSTMENTS (after-tax) | (217) | (97) | 250 |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED INCOME STATEMENTS (unaudited) | |||||||||||
In thousands, except share data, for the years ended December 31, | 2022 | 2021 | 2020 | ||||||||
OPERATING REVENUES: | |||||||||||
Electric | $13,186,845 | $10,873,995 | $9,046,643 | ||||||||
Natural gas | 233,920 | 170,610 | 124,008 | ||||||||
Competitive businesses | 343,472 | 698,291 | 942,985 | ||||||||
Total | 13,764,237 | 11,742,896 | 10,113,636 | ||||||||
OPERATING EXPENSES: | |||||||||||
Operation and maintenance: | |||||||||||
Fuel, fuel-related expenses, and gas purchased for resale | 3,732,851 | 2,458,096 | 1,564,371 | ||||||||
Purchased power | 1,561,544 | 1,271,677 | 904,268 | ||||||||
Nuclear refueling outage expenses | 156,032 | 172,636 | 184,157 | ||||||||
Other operation and maintenance | 3,038,459 | 2,968,621 | 3,002,626 | ||||||||
Asset write-offs, impairments, and related charges (credits) | (163,464) | 263,625 | 26,623 | ||||||||
Decommissioning | 224,076 | 306,411 | 381,861 | ||||||||
Taxes other than income taxes | 733,538 | 660,290 | 652,840 | ||||||||
Depreciation and amortization | 1,761,023 | 1,684,286 | 1,613,086 | ||||||||
Other regulatory charges (credits) – net | 669,403 | 111,628 | 14,609 | ||||||||
Total | 11,713,462 | 9,897,270 | 8,344,441 | ||||||||
OPERATING INCOME | 2,050,775 | 1,845,626 | 1,769,195 | ||||||||
OTHER INCOME (DEDUCTIONS): | |||||||||||
Allowance for equity funds used during construction | 72,832 | 70,473 | 119,430 | ||||||||
Interest and investment income (loss) | (75,581) | 430,466 | 392,818 | ||||||||
Miscellaneous – net | (77,629) | (201,778) | (210,633) | ||||||||
Total | (80,378) | 299,161 | 301,615 | ||||||||
INTEREST EXPENSE: | |||||||||||
Interest expense | 940,060 | 863,712 | 837,981 | ||||||||
Allowance for borrowed funds used during construction | (27,823) | (29,018) | (52,318) | ||||||||
Total | 912,237 | 834,694 | 785,663 | ||||||||
INCOME BEFORE INCOME TAXES | 1,058,160 | 1,310,093 | 1,285,147 | ||||||||
Income taxes | (38,978) | 191,374 | (121,506) | ||||||||
CONSOLIDATED NET INCOME | 1,097,138 | 1,118,719 | 1,406,653 | ||||||||
Preferred dividend requirements of subsidiaries and noncontrolling interest | (6,028) | 227 | 18,319 | ||||||||
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION | $1,103,166 | $1,118,492 | $1,388,334 | ||||||||
Basic earnings per average common share | $5.40 | $5.57 | $6.94 | ||||||||
Diluted earnings per average common share | $5.37 | $5.54 | $6.90 | ||||||||
Basic average number of common shares outstanding | 204,450,354 | 200,941,511 | 200,106,945 | ||||||||
Diluted average number of common shares outstanding | 205,547,578 | 201,873,024 | 201,102,220 |
FINANCIAL RESULTS | ||||||||||||||
CONSOLIDATING INCOME STATEMENT (unaudited) | ||||||||||||||
In thousands, except share data, for the year ended December 31, 2022. | UTILITY | PARENT & OTHER | EWC | CONSOLIDATED | ||||||||||
OPERATING REVENUES: | ||||||||||||||
Electric | $13,186,884 | ($39) | $— | $13,186,845 | ||||||||||
Natural gas | 233,920 | — | — | 233,920 | ||||||||||
Competitive businesses | — | 11 | 343,461 | 343,472 | ||||||||||
Total | 13,420,804 | (28) | 343,461 | 13,764,237 | ||||||||||
OPERATING EXPENSES: | ||||||||||||||
Operation and maintenance: | ||||||||||||||
Fuel, fuel-related expenses, and gas purchased for resale | 3,634,394 | (28) | 98,485 | 3,732,851 | ||||||||||
Purchased power | 1,478,121 | 28 | 83,395 | 1,561,544 | ||||||||||
Nuclear refueling outage expenses | 137,618 | — | 18,414 | 156,032 | ||||||||||
Other operation and maintenance | 2,899,759 | 35,677 | 103,023 | 3,038,459 | ||||||||||
Asset write-offs, impairments, and related charges (credits) | — | — | (163,464) | (163,464) | ||||||||||
Decommissioning | 195,831 | — | 28,245 | 224,076 | ||||||||||
Taxes other than income taxes | 716,560 | 738 | 16,240 | 733,538 | ||||||||||
Depreciation and amortization | 1,745,822 | 883 | 14,318 | 1,761,023 | ||||||||||
Other regulatory charges (credits) – net | 669,403 | — | — | 669,403 | ||||||||||
Total | 11,477,508 | 37,298 | 198,656 | 11,713,462 | ||||||||||
OPERATING INCOME | 1,943,296 | (37,326) | 144,805 | 2,050,775 | ||||||||||
OTHER INCOME (DEDUCTIONS): | ||||||||||||||
Allowance for equity funds used during construction | 72,832 | — | — | 72,832 | ||||||||||
Interest and investment income (loss) | 145,968 | (187,152) | (34,397) | (75,581) | ||||||||||
Miscellaneous – net | (47,604) | (46,618) | 16,593 | (77,629) | ||||||||||
Total | 171,196 | (233,770) | (17,804) | (80,378) | ||||||||||
INTEREST EXPENSE: | ||||||||||||||
Interest expense | 777,998 | 154,348 | 7,714 | 940,060 | ||||||||||
Allowance for borrowed funds used during construction | (27,823) | — | — | (27,823) | ||||||||||
Total | 750,175 | 154,348 | 7,714 | 912,237 | ||||||||||
INCOME BEFORE INCOME TAXES | 1,364,317 | (425,444) | 119,287 | 1,058,160 | ||||||||||
Income taxes | (34,263) | (59,180) | 54,465 | (38,978) | ||||||||||
CONSOLIDATED NET INCOME | 1,398,580 | (366,264) | 64,822 | 1,097,138 | ||||||||||
Preferred dividend requirements of subsidiaries and noncontrolling interest | (8,025) | (191) | 2,188 | (6,028) | ||||||||||
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION | $1,406,605 | ($366,073) | $62,634 | $1,103,166 | ||||||||||
Basic earnings per average common share | $6.88 | ($1.79) | $0.31 | $5.40 | ||||||||||
Diluted earnings per average common share | $6.84 | ($1.78) | $0.31 | $5.37 |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED BALANCE SHEETS (unaudited) | |||||||||||
In thousands, as of December 31, | 2022 | 2021 | 2020 | ||||||||
ASSETS | |||||||||||
CURRENT ASSETS: | |||||||||||
Cash and cash equivalents: | |||||||||||
Cash | $115,290 | $44,944 | $128,851 | ||||||||
Temporary cash investments | 108,874 | 397,615 | 1,630,248 | ||||||||
Total cash and cash equivalents | 224,164 | 442,559 | 1,759,099 | ||||||||
Accounts receivable: | |||||||||||
Customer | 788,552 | 786,866 | 833,478 | ||||||||
Allowance for doubtful accounts | (30,856) | (68,608) | (117,794) | ||||||||
Other | 241,702 | 231,843 | 135,208 | ||||||||
Accrued unbilled revenues | 495,859 | 420,255 | 434,835 | ||||||||
Total accounts receivable | 1,495,257 | 1,370,356 | 1,285,727 | ||||||||
Deferred fuel costs | 710,401 | 324,394 | 4,380 | ||||||||
Fuel inventory – at average cost | 147,632 | 154,575 | 172,934 | ||||||||
Materials and supplies – at average cost | 1,183,308 | 1,041,515 | 962,185 | ||||||||
Deferred nuclear refueling outage costs | 143,653 | 133,422 | 179,150 | ||||||||
Prepayments and other | 190,611 | 156,774 | 196,424 | ||||||||
Total | 4,095,026 | 3,623,595 | 4,559,899 | ||||||||
OTHER PROPERTY AND INVESTMENTS: | |||||||||||
Decommissioning trust funds | 4,121,864 | 5,514,016 | 7,253,215 | ||||||||
Non-utility property – at cost (less accumulated depreciation) | 366,405 | 357,576 | 343,328 | ||||||||
Storm reserve escrow account | 401,955 | 33,186 | 116,266 | ||||||||
Other | 102,259 | 126,269 | 97,956 | ||||||||
Total | 4,992,483 | 6,031,047 | 7,810,765 | ||||||||
PROPERTY, PLANT AND EQUIPMENT: | |||||||||||
Electric | 64,646,911 | 64,263,250 | 59,696,443 | ||||||||
Natural gas | 691,970 | 658,989 | 610,768 | ||||||||
Construction work in progress | 1,844,171 | 1,511,966 | 2,012,030 | ||||||||
Nuclear fuel | 582,119 | 577,006 | 601,281 | ||||||||
Total property, plant and equipment | 67,765,171 | 67,011,211 | 62,920,522 | ||||||||
Less – accumulated depreciation and amortization | 25,288,047 | 24,767,051 | 24,067,745 | ||||||||
Property, plant and equipment – net | 42,477,124 | 42,244,160 | 38,852,777 | ||||||||
DEFERRED DEBITS AND OTHER ASSETS: | |||||||||||
Regulatory assets: | |||||||||||
Other regulatory assets (includes securitization property of $282,886 as of | |||||||||||
December 31, 2022, $49,579 as of December 31, 2021 and $119,238 as of | |||||||||||
December 31, 2020) | 6,036,397 | 6,613,256 | 6,076,549 | ||||||||
Deferred fuel costs | 241,085 | 240,953 | 240,422 | ||||||||
Goodwill | 377,172 | 377,172 | 377,172 | ||||||||
Accumulated deferred income taxes | 84,100 | 54,186 | 76,289 | ||||||||
Other | 291,804 | 269,873 | 245,339 | ||||||||
Total | 7,030,558 | 7,555,440 | 7,015,771 | ||||||||
TOTAL ASSETS | $58,595,191 | $59,454,242 | $58,239,212 |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED BALANCE SHEETS (unaudited) | |||||||||||
In thousands, as of December 31, | 2022 | 2021 | 2020 | ||||||||
LIABILITIES AND EQUITY | |||||||||||
CURRENT LIABILITIES: | |||||||||||
Currently maturing long-term debt | $2,309,037 | $1,039,329 | $1,164,015 | ||||||||
Notes payable and commercial paper | 827,621 | 1,201,177 | 1,627,489 | ||||||||
Accounts payable | 1,777,590 | 2,610,132 | 2,739,437 | ||||||||
Customer deposits | 424,723 | 395,184 | 401,512 | ||||||||
Taxes accrued | 424,091 | 419,828 | 441,011 | ||||||||
Interest accrued | 195,264 | 191,151 | 201,791 | ||||||||
Deferred fuel costs | — | 7,607 | 153,113 | ||||||||
Pension and other postretirement liabilities | 104,845 | 68,336 | 61,815 | ||||||||
Current portion of unprotected excess accumulated deferred income taxes | — | 53,385 | 63,683 | ||||||||
Sale-leaseback/depreciation regulatory liability | 103,497 | — | — | ||||||||
Other | 202,779 | 204,613 | 206,640 | ||||||||
Total | 6,369,447 | 6,190,742 | 7,060,506 | ||||||||
NON-CURRENT LIABILITIES: | |||||||||||
Accumulated deferred income taxes and taxes accrued | 4,818,837 | 4,706,797 | 4,361,772 | ||||||||
Accumulated deferred investment tax credits | 211,220 | 211,975 | 212,494 | ||||||||
Regulatory liability for income taxes - net | 1,258,276 | 1,255,692 | 1,521,757 | ||||||||
Other regulatory liabilities | 2,324,590 | 2,643,845 | 2,323,851 | ||||||||
Decommissioning and asset retirement cost liabilities | 4,271,531 | 4,757,084 | 6,469,452 | ||||||||
Accumulated provisions | 531,201 | 157,122 | 242,835 | ||||||||
Pension and other postretirement liabilities | 1,213,555 | 1,949,325 | 2,853,013 | ||||||||
Long-term debt (includes securitization bonds | |||||||||||
of $292,760 as of December 31, 2022, $83,639 as of | |||||||||||
December 31, 2021 and $174,635 as of December 31, 2020) | 23,623,512 | 24,841,572 | 21,205,761 | ||||||||
Other | 688,720 | 815,284 | 807,219 | ||||||||
Total | 38,941,442 | 41,338,696 | 39,998,154 | ||||||||
Commitments and Contingencies | |||||||||||
Subsidiaries' preferred stock without sinking fund | 219,410 | 219,410 | 219,410 | ||||||||
EQUITY: | |||||||||||
Preferred stock, no par value, authorized 1,000,000 shares in 2022 and 2021; | |||||||||||
0 shares in 2020; issued shares in 2022, 2021, and 2020 - none | — | — | — | ||||||||
Common stock, $0.01 par value, authorized 499,000,000 in 2022 and 2021 and | |||||||||||
500,000,000 shares in 2020; issued 279,635,929 shares in 2022, | |||||||||||
issued 271,965,510 shares in 2021 and issued 270,035,180 shares in 2020 | 2,797 | 2,720 | 2,700 | ||||||||
Paid-in capital | 7,632,895 | 6,766,239 | 6,549,923 | ||||||||
Retained earnings | 10,502,041 | 10,240,552 | 9,897,182 | ||||||||
Accumulated other comprehensive loss | (191,754) | (332,528) | (449,207) | ||||||||
Less – treasury stock, at cost (68,477,429 shares in 2022, | |||||||||||
69,312,326 shares in 2021, and 69,790,346 shares in 2020) | 4,978,994 | 5,039,699 | 5,074,456 | ||||||||
Total common shareholders' equity | 12,966,985 | 11,637,284 | 10,926,142 | ||||||||
Subsidiaries' preferred stock without sinking fund and noncontrolling interest | 97,907 | 68,110 | 35,000 | ||||||||
Total | 13,064,892 | 11,705,394 | 10,961,142 | ||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $58,595,191 | $59,454,242 | $58,239,212 |
FINANCIAL RESULTS | ||||||||||||||
CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||
In thousands, as of December 31, 2022 | UTILITY | PARENT & OTHER | EWC | CONSOLIDATED | ||||||||||
ASSETS | ||||||||||||||
CURRENT ASSETS: | ||||||||||||||
Cash and cash equivalents: | ||||||||||||||
Cash | $101,049 | $1,758 | $12,483 | $115,290 | ||||||||||
Temporary cash investments | 47,186 | 912 | 60,776 | 108,874 | ||||||||||
Total cash and cash equivalents | 148,235 | 2,670 | 73,259 | 224,164 | ||||||||||
Notes receivable | — | (75,000) | 75,000 | — | ||||||||||
Accounts receivable: | ||||||||||||||
Customer | 788,552 | — | — | 788,552 | ||||||||||
Allowance for doubtful accounts | (30,856) | — | — | (30,856) | ||||||||||
Associated companies | 7,991 | (9,407) | 1,416 | — | ||||||||||
Other | 223,752 | 4 | 17,946 | 241,702 | ||||||||||
Accrued unbilled revenues | 495,859 | — | — | 495,859 | ||||||||||
Total accounts receivable | 1,485,298 | (9,403) | 19,362 | 1,495,257 | ||||||||||
Deferred fuel costs | 710,401 | — | — | 710,401 | ||||||||||
Fuel inventory – at average cost | 141,174 | — | 6,458 | 147,632 | ||||||||||
Materials and supplies – at average cost | 1,179,344 | — | 3,964 | 1,183,308 | ||||||||||
Deferred nuclear refueling outage costs | 143,653 | — | — | 143,653 | ||||||||||
Prepayments and other | 190,942 | (8,673) | 8,342 | 190,611 | ||||||||||
Total | 3,999,047 | (90,406) | 186,385 | 4,095,026 | ||||||||||
OTHER PROPERTY AND INVESTMENTS: | ||||||||||||||
Investment in affiliates | 3,176,229 | (3,176,315) | 86 | — | ||||||||||
Decommissioning trust funds | 4,121,864 | — | — | 4,121,864 | ||||||||||
Non-utility property – at cost (less accumulated depreciation) | 357,763 | (16) | 8,658 | 366,405 | ||||||||||
Storm reserve escrow account | 401,955 | — | — | 401,955 | ||||||||||
Other | 42,154 | 51,497 | 8,608 | 102,259 | ||||||||||
Total | 8,099,965 | (3,124,834) | 17,352 | 4,992,483 | ||||||||||
PROPERTY, PLANT AND EQUIPMENT: | ||||||||||||||
Electric | 64,435,141 | 5,313 | 206,457 | 64,646,911 | ||||||||||
Natural gas | 691,970 | — | — | 691,970 | ||||||||||
Construction work in progress | 1,843,160 | 352 | 659 | 1,844,171 | ||||||||||
Nuclear fuel | 582,119 | — | — | 582,119 | ||||||||||
Total property, plant and equipment | 67,552,390 | 5,665 | 207,116 | 67,765,171 | ||||||||||
Less – accumulated depreciation and amortization | 25,137,429 | 200 | 150,418 | 25,288,047 | ||||||||||
Property, plant and equipment – net | 42,414,961 | 5,465 | 56,698 | 42,477,124 | ||||||||||
DEFERRED DEBITS AND OTHER ASSETS: | ||||||||||||||
Regulatory assets: | ||||||||||||||
Other regulatory assets | 6,036,397 | — | — | 6,036,397 | ||||||||||
Deferred fuel costs | 241,085 | — | — | 241,085 | ||||||||||
Goodwill | 374,099 | — | 3,073 | 377,172 | ||||||||||
Accumulated deferred income taxes | 81,315 | 358 | 2,427 | 84,100 | ||||||||||
Other | 152,374 | 10,903 | 128,527 | 291,804 | ||||||||||
Total | 6,885,270 | 11,261 | 134,027 | 7,030,558 | ||||||||||
TOTAL ASSETS | $61,399,243 | ($3,198,514) | $394,462 | $58,595,191 |
FINANCIAL RESULTS | ||||||||||||||
CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||
In thousands, as of December 31, 2022 | UTILITY | PARENT & OTHER | EWC | CONSOLIDATED | ||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||
Currently maturing long-term debt | $2,170,037 | $— | $139,000 | $2,309,037 | ||||||||||
Notes payable and commercial paper: | ||||||||||||||
Other | — | 827,621 | — | 827,621 | ||||||||||
Accounts payable: | ||||||||||||||
Associated companies | 42,681 | (39,329) | (3,352) | — | ||||||||||
Other | 1,769,731 | 83 | 7,776 | 1,777,590 | ||||||||||
Customer deposits | 424,723 | — | — | 424,723 | ||||||||||
Taxes accrued | 407,244 | 2,887 | 13,960 | 424,091 | ||||||||||
Interest accrued | 181,960 | 12,927 | 377 | 195,264 | ||||||||||
Pension and other postretirement liabilities | 89,348 | — | 15,497 | 104,845 | ||||||||||
Sale-leaseback/depreciation regulatory liability | 103,497 | — | — | 103,497 | ||||||||||
Other | 195,983 | 1,915 | 4,881 | 202,779 | ||||||||||
Total | 5,385,204 | 806,104 | 178,139 | 6,369,447 | ||||||||||
NON-CURRENT LIABILITIES: | ||||||||||||||
Accumulated deferred income taxes and taxes accrued | 5,923,987 | (638,476) | (466,674) | 4,818,837 | ||||||||||
Accumulated deferred investment tax credits | 211,220 | — | — | 211,220 | ||||||||||
Regulatory liability for income taxes - net | 1,258,276 | — | — | 1,258,276 | ||||||||||
Other regulatory liabilities | 2,324,590 | — | — | 2,324,590 | ||||||||||
Decommissioning and retirement cost liabilities | 4,270,916 | — | 615 | 4,271,531 | ||||||||||
Accumulated provisions | 530,910 | — | 291 | 531,201 | ||||||||||
Pension and other postretirement liabilities | 1,047,018 | — | 166,537 | 1,213,555 | ||||||||||
Long-term debt | 19,466,346 | 4,157,166 | — | 23,623,512 | ||||||||||
Other | 1,104,215 | (459,639) | 44,144 | 688,720 | ||||||||||
Total | 36,137,478 | 3,059,051 | (255,087) | 38,941,442 | ||||||||||
Subsidiaries' preferred stock without sinking fund | 195,161 | — | 24,249 | 219,410 | ||||||||||
EQUITY: | ||||||||||||||
Preferred stock, no par value, authorized 1,000,000 shares; | ||||||||||||||
issued shares in 2022 - none | — | — | — | — | ||||||||||
Common stock, $.01 par value, authorized 499,000,000 shares; | ||||||||||||||
issued 279,653,929 shares in 2022 | 2,458,748 | (2,657,052) | 201,101 | 2,797 | ||||||||||
Paid-in capital | 3,694,509 | (1,619,515) | 5,557,901 | 7,632,895 | ||||||||||
Retained earnings | 13,504,961 | 2,075,642 | (5,078,562) | 10,502,041 | ||||||||||
Accumulated other comprehensive income (loss) | 41,525 | — | (233,279) | (191,754) | ||||||||||
Less - treasury stock, at cost (68,477,429 shares in 2022) | 120,000 | 4,858,994 | — | 4,978,994 | ||||||||||
Total common shareholders' equity | 19,579,743 | (7,059,919) | 447,161 | 12,966,985 | ||||||||||
Subsidiaries' preferred stock without sinking fund | ||||||||||||||
and noncontrolling interest | 101,657 | (3,750) | — | 97,907 | ||||||||||
Total | 19,681,400 | (7,063,669) | 447,161 | 13,064,892 | ||||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $61,399,243 | ($3,198,514) | $394,462 | $58,595,191 |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED CASH FLOW STATEMENT (unaudited) | |||||||||||
In thousands, for the years ended December 31, | 2022 | 2021 | 2020 | ||||||||
OPERATING ACTIVITIES: | |||||||||||
Consolidated net income (loss) | $1,097,138 | $1,118,719 | $1,406,653 | ||||||||
Adjustments to reconcile consolidated net income (loss) | |||||||||||
to net cash flow provided by operating activities: | |||||||||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 2,190,371 | 2,242,944 | 2,257,750 | ||||||||
Deferred income taxes, investment tax credits, and non-current taxes accrued | (47,154) | 248,719 | (131,114) | ||||||||
Asset write-offs, impairments, and related charges (credits) | (163,464) | 263,599 | 26,379 | ||||||||
Changes in working capital: | |||||||||||
Receivables | (157,267) | (84,629) | (139,296) | ||||||||
Fuel inventory | 6,943 | 18,359 | (27,458) | ||||||||
Accounts payable | (102,013) | 269,797 | 137,457 | ||||||||
Taxes accrued | 4,263 | (21,183) | 207,556 | ||||||||
Interest accrued | 4,113 | (10,640) | 7,662 | ||||||||
Deferred fuel costs | (393,746) | (466,050) | (49,484) | ||||||||
Other working capital accounts | (157,235) | (53,883) | (143,451) | ||||||||
Changes in provisions for estimated losses | 374,079 | (85,713) | (291,193) | ||||||||
Changes in other regulatory assets | 576,859 | (536,707) | (784,494) | ||||||||
Changes in other regulatory liabilities | (266,559) | 43,631 | 238,669 | ||||||||
Effects of securitization on regulatory asset | (941,035) | — | — | ||||||||
Changes in pensions and other postretirement liabilities | (699,261) | (897,167) | 50,379 | ||||||||
Other | 1,259,458 | 250,917 | (76,149) | ||||||||
Net cash flow provided by operating activities | 2,585,490 | 2,300,713 | 2,689,866 | ||||||||
INVESTING ACTIVITIES: | |||||||||||
Construction/capital expenditures | (5,065,126) | (6,087,296) | (4,694,076) | ||||||||
Allowance for equity funds used during construction | 72,832 | 70,473 | 119,430 | ||||||||
Nuclear fuel purchases | (223,613) | (166,512) | (215,664) | ||||||||
Payment for purchase of assets | (106,193) | (168,304) | (247,121) | ||||||||
Net proceeds (payments) from sale of assets | (1,195) | 17,421 | — | ||||||||
Insurance proceeds received for property damages | 9,829 | — | — | ||||||||
Changes in securitization account | 15,514 | 13,669 | 5,099 | ||||||||
Payments to storm reserve escrow account | (1,494,048) | (25) | (2,273) | ||||||||
Receipts from storm reserve escrow account | 1,125,279 | 83,105 | 297,588 | ||||||||
Decrease (increase) in other investments | (3,328) | 2,343 | (12,755) | ||||||||
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 32,367 | 49,236 | 72,711 | ||||||||
Proceeds from nuclear decommissioning trust fund sales | 1,636,686 | 5,553,629 | 3,107,812 | ||||||||
Investment in nuclear decommissioning trust funds | (1,708,901) | (5,547,015) | (3,203,057) | ||||||||
Net cash flow used in investing activities | (5,709,897) | (6,179,276) | (4,772,306) | ||||||||
FINANCING ACTIVITIES: | |||||||||||
Proceeds from the issuance of: | |||||||||||
Long-term debt | 6,019,835 | 8,308,427 | 12,619,201 | ||||||||
Treasury stock | 32,042 | 5,977 | 42,600 | ||||||||
Common stock | 852,555 | 200,776 | — | ||||||||
Retirement of long-term debt | (5,995,903) | (4,827,827) | (8,152,378) | ||||||||
Changes in credit borrowings and commercial paper – net | (373,556) | (426,312) | (319,238) | ||||||||
Capital contributions from noncontrolling interests | 24,702 | 51,202 | — | ||||||||
Proceeds from trust related to securitization | 3,163,572 | — | — | ||||||||
Other | 42,761 | 43,221 | (7,524) | ||||||||
Dividends paid: | |||||||||||
Common stock | (841,677) | (775,122) | (748,342) | ||||||||
Preferred stock | (18,319) | (18,319) | (18,502) | ||||||||
Net cash flow provided by financing activities | 2,906,012 | 2,562,023 | 3,415,817 | ||||||||
Net increase (decrease) in cash and cash equivalents | (218,395) | (1,316,540) | 1,333,377 |
Cash and cash equivalents at beginning of period | 442,559 | 1,759,099 | 425,722 | ||||||||
Cash and cash equivalents at end of period | $224,164 | $442,559 | $1,759,099 |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED CASH FLOW STATEMENT (unaudited) | |||||||||||
$ thousands, for the years ended December 31, | 2022 | 2021 | 2020 | ||||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||||||||||
Cash paid (received) during the period for: | |||||||||||
Interest – net of amount capitalized | 901,884 | 843,228 | 803,923 | ||||||||
Income taxes | 28,354 | 98,377 | (31,228) |
CASH FLOW INFORMATION BY BUSINESS | ||||||||||||||
PARENT & | ||||||||||||||
For the years ended December 31, 2022, 2021, and 2020 | UTILITY | OTHER | EWC | CONSOLIDATED | ||||||||||
($ thousands) | ||||||||||||||
2022 | ||||||||||||||
Net cash flow provided by (used in) operating activities | 3,031,074 | (364,742) | (80,842) | 2,585,490 | ||||||||||
Net cash flow provided by (used in) investing activities | (9,031,980) | 3,297,750 | 24,333 | (5,709,897) | ||||||||||
Net cash flow provided by (used in) financing activities | 5,837,891 | (2,941,608) | 9,729 | 2,906,012 | ||||||||||
2021 | ||||||||||||||
Net cash flow provided by (used in) operating activities | 2,646,191 | (237,901) | (107,577) | 2,300,713 | ||||||||||
Net cash flow provided by (used in) investing activities | (6,210,313) | (8,493) | 39,530 | (6,179,276) | ||||||||||
Net cash flow provided by (used in) financing activities | 2,349,357 | 201,628 | 11,038 | 2,562,023 | ||||||||||
2020 | ||||||||||||||
Net cash flow provided by (used in) operating activities | 2,275,828 | 296,458 | 117,580 | 2,689,866 | ||||||||||
Net cash flow provided by (used in) investing activities | (4,668,622) | (3,086) | (100,598) | (4,772,306) | ||||||||||
Net cash flow provided by (used in) financing activities | 3,717,186 | (252,386) | (48,983) | 3,415,817 |
FINANCIAL RESULTS | |||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) | |||||||||||||||||||||||
Common Shareholders’ Equity | |||||||||||||||||||||||
Preferred Stock | Accumulated | ||||||||||||||||||||||
and | Other | ||||||||||||||||||||||
Noncontrolling | Common | Retained | Comprehensive | ||||||||||||||||||||
($ thousands) | Interest | Stock | Treasury Stock | Paid-in Capital | Earnings | Income (Loss) | Total | ||||||||||||||||
Balance at December 31, 2019 | 35,000 | 2,700 | (5,154,150) | 6,564,436 | 9,257,609 | (446,920) | 10,258,675 | ||||||||||||||||
Implementation of accounting standards | — | — | — | — | (419) | — | (419) | ||||||||||||||||
Balance at January 1, 2020 | 35,000 | 2,700 | (5,154,150) | 6,564,436 | 9,257,190 | (446,920) | 10,258,256 | ||||||||||||||||
Consolidated net income (loss) (a) | 18,319 | — | — | — | 1,388,334 | — | 1,406,653 | ||||||||||||||||
Other comprehensive loss | — | — | — | — | — | (2,287) | (2,287) | ||||||||||||||||
Common stock issuances related to stock plans | — | — | 79,694 | (14,513) | — | — | 65,181 | ||||||||||||||||
Common stock dividends declared | — | — | — | — | (748,342) | — | (748,342) | ||||||||||||||||
Preferred dividend requirements of subsidiaries (a) | (18,319) | — | — | — | — | — | (18,319) | ||||||||||||||||
Balance at December 31, 2020 | 35,000 | 2,700 | (5,074,456) | 6,549,923 | 9,897,182 | (449,207) | 10,961,142 | ||||||||||||||||
Consolidated net income (loss) (a) | 227 | — | — | — | 1,118,492 | — | 1,118,719 | ||||||||||||||||
Other comprehensive income | — | — | — | — | — | 116,679 | 116,679 | ||||||||||||||||
Common stock issuances and sales under the at the | |||||||||||||||||||||||
market equity distribution program | — | 20 | — | 204,194 | — | — | 204,214 | ||||||||||||||||
Common stock issuance costs | — | — | — | (3,438) | — | — | (3,438) | ||||||||||||||||
Common stock issuances related to stock plans | — | — | 34,757 | 15,560 | — | — | 50,317 | ||||||||||||||||
Common stock dividends declared | — | — | — | — | (775,122) | — | (775,122) | ||||||||||||||||
Capital contributions from noncontrolling interest | 51,202 | — | — | — | — | — | 51,202 | ||||||||||||||||
Preferred dividend requirements of subsidiaries (a) | (18,319) | — | — | — | — | — | (18,319) | ||||||||||||||||
Balance at December 31, 2021 | 68,110 | 2,720 | (5,039,699) | 6,766,239 | 10,240,552 | (332,528) | 11,705,394 | ||||||||||||||||
Consolidated net income (loss) (a) | (6,028) | — | — | — | 1,103,166 | — | 1,097,138 | ||||||||||||||||
Other comprehensive income | — | — | — | — | — | 140,774 | 140,774 | ||||||||||||||||
Common stock issuances and sales under the at the | |||||||||||||||||||||||
market equity distribution program | — | 77 | — | 861,916 | — | — | 861,993 | ||||||||||||||||
Common stock issuance costs | — | — | — | (9,438) | — | — | (9,438) | ||||||||||||||||
Common stock issuances related to stock plans | — | — | 60,705 | 14,178 | — | — | 74,883 | ||||||||||||||||
Common stock dividends declared | — | — | — | — | (841,677) | — | (841,677) | ||||||||||||||||
Beneficial interest in storm trust | 31,636 | — | — | — | — | — | 31,636 | ||||||||||||||||
Capital contributions from noncontrolling interest | 24,702 | — | — | — | — | — | 24,702 | ||||||||||||||||
Distributions to noncontrolling interest | (2,194) | — | — | — | — | — | (2,194) | ||||||||||||||||
Preferred dividend requirements of subsidiaries (a) | (18,319) | — | — | — | — | — | (18,319) | ||||||||||||||||
Balance at December 31, 2022 | 97,907 | 2,797 | (4,978,994) | 7,632,895 | 10,502,041 | (191,754) | 13,064,892 | ||||||||||||||||
(a) Consolidated net income and preferred dividend requirements of subsidiaries include $16 million for 2022, 2021, and 2020 of preferred dividends on subsidiaries’ preferred stock without | |||||||||||||||||||||||
sinking fund that is not presented as equity. |
FINANCIAL RESULTS | |||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) | |||||||||||
In thousands, for the years ended December 31, | 2022 | 2021 | 2020 | ||||||||
NET INCOME (LOSS) | $1,097,138 | $1,118,719 | $1,406,653 | ||||||||
Other comprehensive income (loss) | |||||||||||
Cash flow hedges net unrealized gain (loss) | |||||||||||
(net of tax expense (benefit) of $—, ($7,935), and ($14,776) for 2022 to 2020, respectively) | 1,035 | (29,754) | (55,487) | ||||||||
Pension and other postretirement liabilities | |||||||||||
(net of tax expense (benefit) of $46,789, $55,161, and $5,600 for 2022 to 2020, respectively) | 146,893 | 195,929 | 22,496 | ||||||||
Net unrealized investment gains (losses) | |||||||||||
(net of tax expense (benefit) of ($2,231), ($28,435), and $17,586 for 2022 to 2020, respectively) | (7,154) | (49,496) | 30,704 | ||||||||
Other comprehensive income (loss) | 140,774 | 116,679 | (2,287) | ||||||||
COMPREHENSIVE INCOME (LOSS) | 1,237,912 | 1,235,398 | 1,404,366 | ||||||||
Preferred dividend requirements of subsidiaries and noncontrolling interest | (6,028) | 227 | 18,319 | ||||||||
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION | $1,243,940 | $1,235,171 | $1,386,047 | ||||||||
CONSOLIDATED CAPITAL EXPENDITURES | |||||||||||||||||
HISTORICAL CAPITAL EXPENDITURES | |||||||||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||||||||
Utility | |||||||||||||||||
Generation | $1,124 | $1,134 | $1,218 | ||||||||||||||
Transmission | 891 | 831 | 978 | ||||||||||||||
Distribution | 2,561 | 3,477 | 1,949 | ||||||||||||||
Other | 481 | 636 | 522 | ||||||||||||||
Entergy Wholesale Commodities | 9 | 9 | 26 | ||||||||||||||
Total Historical Capital Expenditures | $5,066 | $6,087 | $4,694 |
ENTERGY CORPORATION SECURITIES DETAIL | |||||||||||||||||||||||
ENTERGY CORPORATION LONG-TERM DEBT | CURRENT OR | AS OF | |||||||||||||||||||||
MATURITY | FIRST CALL | FIRST CALL | DECEMBER 31, | ||||||||||||||||||||
CUSIP | RATE | DATE | DATE | PRICE | 2022 | 2021 | |||||||||||||||||
$3.5B Bank Credit Facility | 2.97 | % | 06/27 (b) | $150 | $165 | ||||||||||||||||||
Commercial Paper (a) | 2.09 | % | 828 | 1,201 | |||||||||||||||||||
29364GAH6 | 4.00% Notes | 4.00 | % | 07/22 | Now | MW (T+.30%) | — | 650 | |||||||||||||||
29364GAJ2 | 2.95% Notes | 2.95 | % | 09/26 | Now | MW (T+.25%) | 750 | 750 | |||||||||||||||
29364GAK9 | 3.75% Notes | 3.75 | % | 06/50 | Now | MW (T+.40%) | 600 | 600 | |||||||||||||||
29364GAL7 | 2.80% Notes | 2.80 | % | 06/30 | Now | MW (T+.35%) | 600 | 600 | |||||||||||||||
29364GAM5 | 0.90% Notes | 0.90 | % | 09/25 | Now | MW (T+.125%) | 800 | 800 | |||||||||||||||
29364GAN3 | 1.90% Notes | 1.90 | % | 06/28 | Now | MW (T+.15%) | 650 | 650 | |||||||||||||||
29364GAP8 | 2.40% Notes | 2.40 | % | 06/31 | Now | MW (T+.20%) | 650 | 650 | |||||||||||||||
Total | $5,028 | $6,066 | |||||||||||||||||||||
(a) Entergy Corporation has a commercial paper program with a program limit of up to $2.0 billion. | |||||||||||||||||||||||
(b) The maturity date was extended in June 2022. |
SECURITIES RATINGS (OUTLOOK) | ||||||||||||||||||||
ISSUER RATING | CORPORATE CREDIT | |||||||||||||||||||
As of 7/20/23 | MOODY’S | S&P | ||||||||||||||||||
Entergy Corporation | Baa2 (negative) | BBB+ (stable) |
AS OF | |||||||||||||||||||||||
INVESTMENT IN AFFILIATE PREFERRED MEMBERSHIP INTERESTS | DECEMBER 31, | ||||||||||||||||||||||
DESCRIPTION | ISSUE DATE | RATE | 2022 | 2021 | |||||||||||||||||||
Between Entergy Louisiana and Entergy Holdings Co. LLC | |||||||||||||||||||||||
Class A preferred non-voting membership interest units of Entergy Holdings Co. LLC | July 2008 | 10.00 | % | $— | $684 | ||||||||||||||||||
(0 units in 2022 and 6,843,780 units in 2021) | |||||||||||||||||||||||
Class B preferred non-voting membership interest units of Entergy Holdings Co. LLC | July 2010 | 9.00 | % | — | 413 | ||||||||||||||||||
(0 units in 2022 and 4,126,940 units in 2021) | |||||||||||||||||||||||
Class C preferred non-voting membership interest units of Entergy Holdings Co. LLC | June 2014 | 7.50 | % | — | 294 | ||||||||||||||||||
(0 units in 2022 and 2,935,153 units in 2021) | |||||||||||||||||||||||
Between Entergy Louisiana's storm trust I and Entergy Finance Company, LLC | |||||||||||||||||||||||
Class A preferred non-voting membership interest units of Entergy Finance Company, LLC (a) | May 2022 | 7.00 | % | 3,164 | — | ||||||||||||||||||
(31,635,719 units in 2022 and 0 units in 2021) | |||||||||||||||||||||||
Total | $3,164 | $1,391 | |||||||||||||||||||||
(a) Distributions are payable annually and have a liquidation price of $100 per unit. The units are subject to periodic serial redemption and mandatory redemption | |||||||||||||||||||||||
in certain specified circumstances. |
UTILITY SELECTED DATA | |||||||||||||||||||||||||||||||||||
UTILITY QUARTERLY FINANCIAL METRICS | |||||||||||||||||||||||||||||||||||
2022 | 2021 | FY % | |||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | |||||||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||||||||||||||
As-reported net income applicable to common stock/equity ($ millions) | 340 | 153 | 672 | 241 | 1,407 | 357 | 326 | 570 | 238 | 1,490 | (5.6) | ||||||||||||||||||||||||
ROE – as-reported (%)(a) | 8.2 | 7.2 | 7.6 | 7.5 | 7.5 | 11.9 | 11.5 | 11.3 | 8.8 | 8.8 | (14.4) | ||||||||||||||||||||||||
Debt to capital Ratio (%) | 53.0 | 52.3 | 52.7 | 52.2 | 52.2 | 54.3 | 53.4 | 52.7 | 53.8 | 53.8 | (3.0) | ||||||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||||||||||||||
Adjusted earnings ($ millions) | 340 | 444 | 672 | 229 | 1,686 | 357 | 326 | 559 | 222 | 1,463 | 15.2 | ||||||||||||||||||||||||
ROE – adjusted (%)(a) | 8.0 | 8.7 | 9.1 | 9.0 | 9.0 | 9.4 | 9.1 | 8.9 | 8.6 | 8.6 | 4.9 | ||||||||||||||||||||||||
Debt to capital ratio, excluding securitization debt (%) | 53.0 | 51.9 | 52.3 | 51.9 | 51.9 | 54.1 | 53.2 | 52.5 | 53.7 | 53.7 | (3.4) | ||||||||||||||||||||||||
Net debt to net capital ratio, excluding securitization debt (%) | 52.4 | 51.4 | 51.3 | 51.7 | 51.7 | 52.8 | 52.6 | 51.7 | 53.3 | 53.3 | (3.0) | ||||||||||||||||||||||||
(a) Rolling twelve months |
UTILITY ANNUAL FINANCIAL METRICS | |||||||||||
2022 | 2021 | 2020 | |||||||||
GAAP MEASURES | |||||||||||
As-reported net income applicable to common stock/equity ($ millions) | 1,407 | 1,490 | 1,800 | ||||||||
ROE – as-reported (%)(a) | 7.5 | 8.8 | 12.0 | ||||||||
Debt to capital ratio (%) | 52.2 | 53.8 | 53.3 | ||||||||
NON-GAAP MEASURES | |||||||||||
Adjusted earnings ($ millions) | 1,686 | 1,463 | 1,423 | ||||||||
ROE – adjusted (%)(a) | 9.0 | 8.6 | 9.5 | ||||||||
Debt to capital ratio, excluding securitization debt (%) | 51.9 | 53.7 | 53.1 | ||||||||
Net debt to net capital ratio, excluding securitization debt (%) | 51.7 | 53.3 | 51.0 | ||||||||
(a) Rolling twelve months |
UTILITY SECURITIES RATINGS (OUTLOOK) | |||||||||||||||||
MORTGAGE BONDS | |||||||||||||||||
As of 7/20/23 | MOODY’S | S&P | |||||||||||||||
Entergy Arkansas, LLC | A2 (stable) | A (stable) | |||||||||||||||
Entergy Louisiana, LLC | A2 (stable) | A (stable) | |||||||||||||||
Entergy Mississippi, LLC | A2 (stable) | A (stable) | |||||||||||||||
Entergy New Orleans, LLC | Baa2 (stable) | BBB (developing) | |||||||||||||||
Entergy Texas, Inc. | A3 (stable) | A (stable) | |||||||||||||||
System Energy Resources, Inc. | Baa2 (negative) | BBB (negative) |
UTILITY HISTORICAL CAPITAL EXPENDITURES(a) | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
Entergy Arkansas | 785 | 723 | 776 | ||||||||
Entergy Louisiana | 2,568 | 3,622 | 1,961 | ||||||||
Entergy Mississippi | 534 | 654 | 555 | ||||||||
Entergy New Orleans | 218 | 220 | 229 | ||||||||
Entergy Texas | 697 | 703 | 896 | ||||||||
System Energy Resources | 165 | 100 | 194 | ||||||||
Other(b) | 91 | 56 | 57 | ||||||||
Total | 5,057 | 6,078 | 4,668 | ||||||||
(a) Historical capital expenditures include storm capital spending. | |||||||||||
(b) Corresponds to Entergy Services, LLC and Entergy Operations, Inc. |
UTILITY FINANCIAL RESULTS | ||||||||||||||||||||||||||
UTILITY CONSOLIDATING INCOME STATEMENT (unaudited) | ||||||||||||||||||||||||||
OTHER/ | ||||||||||||||||||||||||||
In thousands, for the year ending December 31, 2022 | E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS(a) | UTILITY | ||||||||||||||||||
OPERATING REVENUES: | ||||||||||||||||||||||||||
Electric | $2,673,194 | $6,246,933 | $1,624,234 | $855,248 | $2,288,905 | $658,812 | ($1,160,442) | $13,186,884 | ||||||||||||||||||
Natural gas | — | 91,835 | — | 142,085 | — | — | — | 233,920 | ||||||||||||||||||
Total | 2,673,194 | 6,338,768 | 1,624,234 | 997,333 | 2,288,905 | 658,812 | (1,160,442) | 13,420,804 | ||||||||||||||||||
OPERATING EXPENSES: | ||||||||||||||||||||||||||
Operation and maintenance: | ||||||||||||||||||||||||||
Fuel, fuel-related expenses, and gas purchased for resale | 640,344 | 2,002,456 | 252,760 | 244,994 | 443,765 | 50,216 | (141) | 3,634,394 | ||||||||||||||||||
Purchased power | 201,726 | 1,076,715 | 322,674 | 314,283 | 717,501 | 24,482 | (1,179,260) | 1,478,121 | ||||||||||||||||||
Nuclear refueling outage expenses | 53,438 | 59,698 | — | — | — | — | 24,482 | 137,618 | ||||||||||||||||||
Other operation and maintenance | 754,293 | 1,139,605 | 314,902 | 156,653 | 312,340 | 226,557 | (4,591) | 2,899,759 | ||||||||||||||||||
Decommissioning | 82,326 | 72,122 | — | — | — | 40,235 | 1,148 | 195,831 | ||||||||||||||||||
Taxes other than income taxes | 136,565 | 241,908 | 137,541 | 63,743 | 101,673 | 29,428 | 5,702 | 716,560 | ||||||||||||||||||
Depreciation and amortization | 386,272 | 695,204 | 246,063 | 76,938 | 230,692 | 111,889 | (1,236) | 1,745,822 | ||||||||||||||||||
Other regulatory charges (credits) – net | (89,418) | 148,871 | 38,017 | 19,596 | 49,175 | 503,162 | — | 669,403 | ||||||||||||||||||
Total | 2,165,546 | 5,436,579 | 1,311,957 | 876,207 | 1,855,146 | 985,969 | (1,153,896) | 11,477,508 | ||||||||||||||||||
OPERATING INCOME | 507,648 | 902,189 | 312,277 | 121,126 | 433,759 | (327,157) | (6,546) | 1,943,296 | ||||||||||||||||||
OTHER INCOME (DEDUCTIONS): | ||||||||||||||||||||||||||
Allowance for equity funds used during construction | 17,787 | 26,252 | 6,125 | 829 | 13,527 | 8,312 | — | 72,832 | ||||||||||||||||||
Interest and investment income (loss) | 19,554 | (69,144) | 508 | 742 | 4,141 | 5,096 | 185,071 | 145,968 | ||||||||||||||||||
Interest and investment income – affiliated | — | 185,826 | — | — | — | — | (185,826) | — | ||||||||||||||||||
Miscellaneous – net | (27,348) | 9,824 | (3,619) | (21) | (6,572) | (19,616) | (252) | (47,604) | ||||||||||||||||||
Total | 9,993 | 152,758 | 3,014 | 1,550 | 11,096 | (6,208) | (1,007) | 171,196 | ||||||||||||||||||
INTEREST EXPENSE: | ||||||||||||||||||||||||||
Interest expense | 150,928 | 373,480 | 86,960 | 34,829 | 95,454 | 37,381 | (1,034) | 777,998 | ||||||||||||||||||
Allowance for borrowed funds used during construction | (7,070) | (11,550) | (2,800) | (531) | (4,547) | (1,325) | — | (27,823) | ||||||||||||||||||
Total | 143,858 | 361,930 | 84,160 | 34,298 | 90,907 | 36,056 | (1,034) | 750,175 | ||||||||||||||||||
INCOME BEFORE INCOME TAXES | 373,783 | 693,017 | 231,131 | 88,378 | 353,948 | (369,421) | (6,519) | 1,364,317 | ||||||||||||||||||
Income taxes | 80,896 | (162,853) | 54,864 | 24,277 | 50,621 | (92,828) | 10,760 | (34,263) | ||||||||||||||||||
NET INCOME | 292,887 | 855,870 | 176,267 | 64,101 | 303,327 | (276,593) | (17,279) | 1,398,580 | ||||||||||||||||||
Preferred dividend requirements of subsidiaries and noncontrolling interest | (4,358) | 1,366 | (21,355) | — | 2,072 | — | 14,250 | (8,025) | ||||||||||||||||||
EARNINGS APPLICABLE TO | ||||||||||||||||||||||||||
COMMON STOCK / EQUITY | $297,245 | $854,504 | $197,622 | $64,101 | $301,255 | ($276,593) | ($31,529) | $1,406,605 | ||||||||||||||||||
(a) Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc., and the elimination of intercompany transactions. |
UTILITY FINANCIAL RESULTS | ||||||||||||||||||||||||||
UTILITY CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||||||||||||||
OTHER/ | ||||||||||||||||||||||||||
In thousands, as of December 31, 2022 | E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS(a) | UTILITY | ||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||
CURRENT ASSETS: | ||||||||||||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||||||||
Cash | $1,911 | $50,318 | $26 | $27 | $500 | $78 | $48,189 | $101,049 | ||||||||||||||||||
Temporary cash investments | 3,367 | 6,295 | 16,953 | 4,437 | 2,997 | 2,862 | 10,275 | 47,186 | ||||||||||||||||||
Total cash and cash equivalents | 5,278 | 56,613 | 16,979 | 4,464 | 3,497 | 2,940 | 58,464 | 148,235 | ||||||||||||||||||
Securitization recovery trust account | — | — | — | 2,235 | 10,879 | — | (13,114) | — | ||||||||||||||||||
Accounts receivable: | ||||||||||||||||||||||||||
Customer | 140,513 | 339,291 | 99,504 | 93,288 | 115,955 | — | 1 | 788,552 | ||||||||||||||||||
Allowance for doubtful accounts | (6,528) | (7,595) | (2,472) | (11,909) | (2,352) | — | — | (30,856) | ||||||||||||||||||
Associated companies | 45,336 | 88,896 | 37,673 | 149,927 | 115,549 | 158,601 | (587,991) | 7,991 | ||||||||||||||||||
Other | 101,096 | 53,241 | 34,564 | 6,110 | 21,587 | 6,145 | 1,009 | 223,752 | ||||||||||||||||||
Accrued unbilled revenues | 116,816 | 199,077 | 73,473 | 37,284 | 69,208 | — | 1 | 495,859 | ||||||||||||||||||
Total accounts receivable | 397,233 | 672,910 | 242,742 | 274,700 | 319,947 | 164,746 | (586,980) | 1,485,298 | ||||||||||||||||||
Deferred fuel costs | 139,739 | 159,183 | 143,211 | 10,153 | 258,115 | — | — | 710,401 | ||||||||||||||||||
Fuel inventory – at average cost | 51,144 | 41,859 | 15,548 | 5,872 | 26,750 | — | 1 | 141,174 | ||||||||||||||||||
Materials and supplies – at average cost | 288,260 | 555,860 | 84,346 | 22,498 | 93,031 | 135,346 | 3 | 1,179,344 | ||||||||||||||||||
Deferred nuclear refueling outage costs | 56,443 | 53,833 | — | — | — | 33,377 | — | 143,653 | ||||||||||||||||||
Prepayments and other | 26,576 | 76,646 | 9,603 | 6,312 | 20,568 | 9,097 | 42,140 | 190,942 | ||||||||||||||||||
Total | 964,673 | 1,616,904 | 512,429 | 326,234 | 732,787 | 345,506 | (499,486) | 3,999,047 | ||||||||||||||||||
OTHER PROPERTY AND INVESTMENTS: | ||||||||||||||||||||||||||
Investment in affiliates | — | 3,163,572 | — | — | 250 | — | 12,407 | 3,176,229 | ||||||||||||||||||
Decommissioning trust funds | 1,199,860 | 1,779,090 | — | — | — | 1,142,914 | — | 4,121,864 | ||||||||||||||||||
Non-utility property – at cost (less accumulated depreciation) | — | 293,406 | 4,512 | 1,050 | 376 | — | 58,419 | 357,763 | ||||||||||||||||||
Escrow accounts | — | 350,723 | 33,549 | 75,000 | — | — | (57,317) | 401,955 | ||||||||||||||||||
Other | 2,414 | 19,679 | 910 | 675 | 18,975 | — | (499) | 42,154 | ||||||||||||||||||
Total | 1,202,274 | 5,606,470 | 38,971 | 76,725 | 19,601 | 1,142,914 | 13,010 | 8,099,965 | ||||||||||||||||||
UTILITY PLANT | ||||||||||||||||||||||||||
Electric | 14,077,844 | 27,498,136 | 7,079,849 | 1,934,837 | 7,409,461 | 5,425,449 | 1,009,565 | 64,435,141 | ||||||||||||||||||
Natural gas | — | 301,719 | — | 390,252 | — | — | (1) | 691,970 | ||||||||||||||||||
Construction work in progress | 417,244 | 736,969 | 170,191 | 39,607 | 339,139 | 102,987 | 37,023 | 1,843,160 | ||||||||||||||||||
Nuclear fuel | 176,174 | 212,941 | — | — | — | 193,004 | — | 582,119 | ||||||||||||||||||
Total utility plant | 14,671,262 | 28,749,765 | 7,250,040 | 2,364,696 | 7,748,600 | 5,721,440 | 1,046,587 | 67,552,390 | ||||||||||||||||||
Less – accumulated depreciation and amortization | 5,729,304 | 10,087,942 | 2,264,786 | 808,224 | 2,135,400 | 3,412,257 | 699,516 | 25,137,429 | ||||||||||||||||||
Utility plant – net | 8,941,958 | 18,661,823 | 4,985,254 | 1,556,472 | 5,613,200 | 2,309,183 | 347,071 | 42,414,961 | ||||||||||||||||||
DEFERRED DEBITS AND OTHER ASSETS: | ||||||||||||||||||||||||||
Regulatory assets: | ||||||||||||||||||||||||||
Other regulatory assets (includes securitization property | ||||||||||||||||||||||||||
of $282,886 as of December 31, 2022) | 1,810,281 | 2,056,179 | 519,460 | 202,112 | 578,682 | 415,121 | 454,562 | 6,036,397 | ||||||||||||||||||
Deferred fuel costs | 68,883 | 168,122 | — | 4,080 | — | — | — | 241,085 | ||||||||||||||||||
Goodwill | — | — | — | — | — | — | 374,099 | 374,099 | ||||||||||||||||||
Accumulated deferred income taxes | — | — | — | — | — | — | 81,315 | 81,315 | ||||||||||||||||||
Other | 18,507 | 35,057 | 22,650 | 46,778 | 99,694 | 1,422 | (71,734) | 152,374 | ||||||||||||||||||
Total | 1,897,671 | 2,259,358 | 542,110 | 252,970 | 678,376 | 416,543 | 838,242 | 6,885,270 | ||||||||||||||||||
TOTAL ASSETS | $13,006,576 | $28,144,555 | $6,078,764 | $2,212,401 | $7,043,964 | $4,214,146 | $698,837 | $61,399,243 | ||||||||||||||||||
(a) Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc., and the elimination of intercompany transactions. |
UTILITY FINANCIAL RESULTS | ||||||||||||||||||||||||||
UTILITY CONSOLIDATING BALANCE SHEET (unaudited) | ||||||||||||||||||||||||||
OTHER/ | ||||||||||||||||||||||||||
In thousands, as of December 31, 2022 | E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS(a) | UTILITY | ||||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||||||||||||||
Currently maturing long-term debt | $290,000 | $1,010,000 | $400,000 | $170,000 | $— | $300,037 | $— | $2,170,037 | ||||||||||||||||||
Payable due to associated companies | — | — | — | 1,306 | — | — | (1,306) | — | ||||||||||||||||||
Accounts payable: | ||||||||||||||||||||||||||
Associated companies | 276,362 | 356,688 | 60,532 | 53,258 | 70,321 | 21,701 | (796,181) | 42,681 | ||||||||||||||||||
Other | 310,339 | 589,355 | 176,162 | 57,291 | 201,982 | 58,178 | 376,424 | 1,769,731 | ||||||||||||||||||
Customer deposits | 102,799 | 161,666 | 89,668 | 31,826 | 38,764 | — | — | 424,723 | ||||||||||||||||||
Taxes accrued | 100,526 | 36,004 | 124,905 | 10,308 | 93,033 | 7,597 | 34,871 | 407,244 | ||||||||||||||||||
Interest accrued | 18,816 | 101,336 | 18,208 | 8,080 | 23,928 | 11,591 | 1 | 181,960 | ||||||||||||||||||
Pension and other postretirement liabilities | — | — | — | — | — | — | 89,348 | 89,348 | ||||||||||||||||||
Sale-leaseback/depreciation regulatory liability | — | — | — | — | — | 103,497 | — | 103,497 | ||||||||||||||||||
Other | 43,394 | 72,525 | 38,908 | 6,560 | 16,963 | 4,071 | 13,562 | 195,983 | ||||||||||||||||||
Total | 1,142,236 | 2,327,574 | 908,383 | 338,629 | 444,991 | 506,672 | (283,281) | 5,385,204 | ||||||||||||||||||
NON-CURRENT LIABILITIES: | ||||||||||||||||||||||||||
Accumulated deferred income taxes and taxes accrued | 1,498,234 | 2,374,878 | 780,030 | 385,259 | 744,227 | 376,070 | (234,711) | 5,923,987 | ||||||||||||||||||
Accumulated deferred investment tax credits | 28,472 | 97,868 | 14,591 | 16,481 | 8,711 | 44,692 | 405 | 211,220 | ||||||||||||||||||
Regulatory liability for income taxes - net | 435,157 | 337,836 | 202,058 | 39,738 | 132,647 | 110,840 | — | 1,258,276 | ||||||||||||||||||
Other regulatory liabilities | 475,758 | 1,037,962 | 79,865 | — | 45,247 | 665,024 | 20,734 | 2,324,590 | ||||||||||||||||||
Decommissioning and asset retirement cost liabilities | 1,472,736 | 1,736,801 | 7,797 | — | 11,121 | 1,042,461 | — | 4,270,916 | ||||||||||||||||||
Accumulated provisions | 79,998 | 316,314 | 37,509 | 87,048 | 7,593 | — | 2,448 | 530,910 | ||||||||||||||||||
Pension and other postretirement liabilities | 118,020 | 389,631 | 23,742 | — | — | 40,750 | 474,875 | 1,047,018 | ||||||||||||||||||
Long-term debt (includes securitization bonds | ||||||||||||||||||||||||||
of $292,761 as of December 31, 2022) | 3,876,500 | 9,688,922 | 1,931,096 | 596,047 | 2,895,913 | 477,868 | — | 19,466,346 | ||||||||||||||||||
Long-term payable due to associated companies | — | — | — | 8,279 | — | — | (8,279) | — | ||||||||||||||||||
Other | 97,650 | 343,321 | 53,156 | 38,104 | 74,053 | 2 | 497,929 | 1,104,215 | ||||||||||||||||||
Total | 8,082,525 | 16,323,533 | 3,129,844 | 1,170,956 | 3,919,512 | 2,757,707 | 753,401 | 36,137,478 | ||||||||||||||||||
Preferred stock without sinking fund | — | — | — | — | �� | — | 195,161 | 195,161 | ||||||||||||||||||
EQUITY: | ||||||||||||||||||||||||||
Common stock or member's equity | 3,753,990 | 9,406,343 | 2,037,190 | 702,816 | 49,452 | 1,086,850 | (14,577,893) | 2,458,748 | ||||||||||||||||||
Paid-in capital | — | — | — | — | 1,050,125 | — | 2,644,384 | 3,694,509 | ||||||||||||||||||
Retained earnings (accumulated deficit) | — | — | — | — | 1,541,134 | (137,083) | 12,100,910 | 13,504,961 | ||||||||||||||||||
Accumulated other comprehensive income (loss) | — | 55,370 | — | — | — | — | (13,845) | 41,525 | ||||||||||||||||||
Noncontrolling interest | 27,825 | 31,735 | 3,347 | — | — | — | (62,907) | — | ||||||||||||||||||
Less – treasury stock, at cost | — | — | — | — | — | — | 120,000 | 120,000 | ||||||||||||||||||
Total common shareholders' equity | 3,781,815 | 9,493,448 | 2,040,537 | 702,816 | 2,640,711 | 949,767 | (29,351) | 19,579,743 | ||||||||||||||||||
Preferred stock without sinking fund | — | — | — | — | 38,750 | — | 62,907 | 101,657 | ||||||||||||||||||
Total | 3,781,815 | 9,493,448 | 2,040,537 | 702,816 | 2,679,461 | 949,767 | 33,556 | 19,681,400 | ||||||||||||||||||
TOTAL LIABILITIES AND EQUITY | $13,006,576 | $28,144,555 | $6,078,764 | $2,212,401 | $7,043,964 | $4,214,146 | $698,837 | $61,399,243 | ||||||||||||||||||
(a) Entergy Utility Holding Company, LLC, Entergy Services, LLC, Entergy Operations, Inc., and the elimination of intercompany transactions. |
UTILITY FINANCIAL RESULTS | |||||||||||
UTILITY SELECTED ANNUAL FINANCIAL METRICS | |||||||||||
2022 | 2021 | 2020 | |||||||||
ENTERGY ARKANSAS, LLC | |||||||||||
As-Reported Earnings Applicable to Member's Equity ($ millions) | 297 | 317 | 245 | ||||||||
Less Adjustments ($ millions) | — | (3) | 6 | ||||||||
Adjusted Earnings ($ millions) | 297 | 320 | 239 | ||||||||
GAAP MEASURES | |||||||||||
Return on Average Member's Equity – As-Reported (%) | 8.1 | 9.3 | 7.7 | ||||||||
Debt to Capital (%) | 52.5 | 52.6 | 54.8 | ||||||||
Total Debt ($ millions) | 4,180 | 3,974 | 3,980 | ||||||||
Total Equity ($ millions) | 3,754 | 3,543 | 3,276 | ||||||||
NON-GAAP MEASURES | |||||||||||
Return on Average Member's Equity – Adjusted (%) | 8.1 | 9.4 | 7.5 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 4,180 | 3,974 | 3,980 | ||||||||
Debt to Capital, excluding securitization debt (%) | 52.5 | 52.6 | 54.8 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 52.5 | 52.6 | 53.6 | ||||||||
ENTERGY LOUISIANA, LLC | |||||||||||
As-Reported Earnings Applicable to Member's Equity ($ millions) | 855 | 654 | 1,082 | ||||||||
Less Adjustments ($ millions) | 117 | 17 | 383 | ||||||||
Adjusted Net Income ($ millions) | 738 | 637 | 699 | ||||||||
GAAP MEASURES | |||||||||||
Return on Average Member's Equity – As-Reported (%) | 9.7 | 8.4 | 15.6 | ||||||||
Debt to Capital (%) | 53.0 | 57.2 | 54.8 | ||||||||
Total Debt ($ millions) | 10,717 | 10,933 | 9,044 | ||||||||
Total Equity ($ millions) | 9,462 | 8,181 | 7,458 | ||||||||
NON-GAAP MEASURES | |||||||||||
Return on Average Member's Equity – Adjusted (%) | 8.4 | 8.1 | 10.1 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 10,717 | 10,933 | 9,034 | ||||||||
Debt to Capital, excluding securitization debt (%) | 53.0 | 57.2 | 54.8 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 52.9 | 57.2 | 52.7 |
UTILITY FINANCIAL RESULTS | |||||||||||
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED) | |||||||||||
2022 | 2021 | 2020 | |||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||
As-Reported Earnings Applicable to Member's Equity ($ millions) | 198 | 167 | 141 | ||||||||
Less Adjustments ($ millions) | — | — | 4 | ||||||||
Adjusted Earnings ($ millions) | 198 | 167 | 137 | ||||||||
GAAP MEASURES | |||||||||||
Return on Average Member's Equity – As-Reported (%) | 10.2 | 9.5 | 8.7 | ||||||||
Debt to Capital (%) | 53.4 | 54.3 | 51.7 | ||||||||
Total Debt ($ millions) | 2,340 | 2,189 | 1,788 | ||||||||
Total Equity ($ millions) | 2,037 | 1,840 | 1,673 | ||||||||
NON-GAAP MEASURES | |||||||||||
Return on Average Member's Equity – Adjusted (%) | 10.2 | 9.5 | 8.5 | ||||||||
Net Debt to Net Capital (%) | 53.2 | 53.8 | 51.7 | ||||||||
ENTERGY NEW ORLEANS, LLC | |||||||||||
As-Reported Net Income ($ millions) | 64 | 32 | 49 | ||||||||
Less Adjustments ($ millions) | — | 2 | (1) | ||||||||
Adjusted Earnings ($ millions) | 64 | 30 | 50 | ||||||||
GAAP MEASURES | |||||||||||
Return on Average Member's Equity – As-Reported (%) | 9.6 | 5.1 | 8.9 | ||||||||
Debt to Capital (%) | 52.6 | 55.4 | 51.5 | ||||||||
Total Debt ($ millions) | 780 | 792 | 646 | ||||||||
Total Equity ($ millions) | 703 | 639 | 607 | ||||||||
NON-GAAP MEASURES | |||||||||||
Return on Average Member's Equity – Adjusted (%) | 9.6 | 4.9 | 9.1 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 762 | 763 | 604 | ||||||||
Debt to Capital, excluding securitization debt (%) | 52.0 | 54.4 | 49.9 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 51.9 | 53.0 | 49.9 | ||||||||
ENTERGY TEXAS, INC. | |||||||||||
As-Reported Earnings Applicable to Common Stock ($ millions) | 301 | 227 | 213 | ||||||||
Less Adjustments ($ millions) | 13 | — | 2 | ||||||||
Adjusted Net Income ($ millions) | 288 | 227 | 211 | ||||||||
GAAP MEASURES | |||||||||||
ROE – As-Reported (%) | 11.8 | 9.9 | 11.0 | ||||||||
Debt to Capital (%) | 52.0 | 48.7 | 53.7 | ||||||||
Total Debt ($ millions) | 2,904 | 2,362 | 2,499 | ||||||||
Total Preferred ($ millions) | 39 | 39 | 35 | ||||||||
Total Common Equity ($ millions) | 2,641 | 2,444 | 2,123 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROE – Adjusted (%) | 11.3 | 9.9 | 10.9 | ||||||||
Total Debt, excluding securitization debt ($ millions) | 2,629 | 2,308 | 2,376 | ||||||||
Debt to Capital, excluding securitization debt (%) | 49.5 | 48.2 | 52.4 | ||||||||
Net Debt to Net Capital, excluding securitization debt (%) | 49.5 | 48.2 | 49.7 |
UTILITY FINANCIAL RESULTS | |||||||||||
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED) | |||||||||||
2022 | 2021 | 2020 | |||||||||
SYSTEM ENERGY RESOURCES, INC. | |||||||||||
As-Reported Net Income/(Loss) ($ millions) | (277) | 107 | 99 | ||||||||
Less Adjustments ($ millions) | (402) | — | (16) | ||||||||
Adjusted Earnings ($ millions) | 125 | 107 | 115 | ||||||||
GAAP MEASURES | |||||||||||
ROE – As-Reported (%) | (27.1) | 9.8 | 11.1 | ||||||||
Debt to Capital (%) | 45.0 | 40.4 | 42.7 | ||||||||
Total Debt ($ millions) | 778 | 741 | 805 | ||||||||
Total Equity ($ millions) | 950 | 1,091 | 1,081 | ||||||||
NON-GAAP MEASURES | |||||||||||
ROE – Adjusted (%) | 12.2 | 9.8 | 12.8 | ||||||||
Net Debt to Net Capital (%) | 44.9 | 37.4 | 34.2 |
UTILITY STATISTICAL INFORMATION | ||||||||||||||||||||
WEATHER ANALYSIS | ||||||||||||||||||||
Entergy reports estimated impact of weather on retail sales and revenue, earnings, and earnings per share. The | ||||||||||||||||||||
effects of weather were estimated using heating degree days and cooling degree days for the period from certain | ||||||||||||||||||||
locations within each jurisdiction and comparing to “normal” weather based on 20-year historical data. The models | ||||||||||||||||||||
used to estimate weather are updated periodically and are subject to change. | ||||||||||||||||||||
Entergy uses a proprietary model to calculate degree days. For analysis purposes, we are providing degree days | ||||||||||||||||||||
from Bloomberg, which is a reasonable proxy for Entergy's proprietary model. | ||||||||||||||||||||
Cooling degree days and heating degree days can have varying impacts depending on the geographical location | ||||||||||||||||||||
and/or the season. | ||||||||||||||||||||
Note that extreme weather events, such as a polar vortex or hurricane, can impact weather estimates. | ||||||||||||||||||||
Degree days are estimated weighting data from the following weather stations: | ||||||||||||||||||||
Total Utility | E-AR | E-LA | E-MS | E-NO | E-TX | |||||||||||||||
BPT (Beaumont, TX) | 8% | 47% | ||||||||||||||||||
BTR (Baton Rouge, LA) | 9% | 25% | ||||||||||||||||||
IAH (Houston, TX) | 9% | 53% | ||||||||||||||||||
JAN (Jackson, MS) | 12% | 76% | ||||||||||||||||||
LCH (Lake Charles, LA) | 5% | 14% | ||||||||||||||||||
LIT (Little Rock, AR) | 24% | 100% | ||||||||||||||||||
MEM (Memphis, TN) | 4% | 24% | ||||||||||||||||||
BQP (Bastrop, LA) | 7% | 18% | ||||||||||||||||||
MSY (New Orleans, LA) | 23% | 44% | 100% | |||||||||||||||||
"Normal" is defined as 65 degrees; 20-year "normal" degree days by quarter are as follows: | ||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | |||||||||||||||||
Total Utility | ||||||||||||||||||||
Cooling degree days | 89 | 926 | 1,533 | 245 | ||||||||||||||||
Heating degree days | 1,079 | 75 | 1 | 720 | ||||||||||||||||
E-AR | ||||||||||||||||||||
Cooling degree days | 24 | 732 | 1,406 | 107 | ||||||||||||||||
Heating degree days | 1,609 | 148 | 3 | 1,102 | ||||||||||||||||
E-LA | ||||||||||||||||||||
Cooling degree days | 117 | 1,006 | 1,585 | 302 | ||||||||||||||||
Heating degree days | 858 | 44 | - | 559 | ||||||||||||||||
E-MS | ||||||||||||||||||||
Cooling degree days | 51 | 798 | 1,421 | 160 | ||||||||||||||||
Heating degree days | 1,307 | 109 | 1 | 894 | ||||||||||||||||
E-NO | ||||||||||||||||||||
Cooling degree days | 146 | 1,095 | 1,650 | 369 | ||||||||||||||||
Heating degree days | 696 | 23 | - | 428 | ||||||||||||||||
E-TX | ||||||||||||||||||||
Cooling degree days | 131 | 1,078 | 1,657 | 348 | ||||||||||||||||
Heating degree days | 751 | 30 | - | 485 |
UTILITY STATISTICAL INFORMATION | ||||||||||||||||||||||||||||||||
WEATHER ANALYSIS | ||||||||||||||||||||||||||||||||
2022 | 2021 | |||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | |||||||||||||||||||||||
Total Utility | ||||||||||||||||||||||||||||||||
Cooling degree days (source: Bloomberg) | 65 | 1,066 | 1,549 | 232 | 103 | 844 | 1,491 | 338 | ||||||||||||||||||||||||
Cooling degree days vs. 20-year average | (24) | 140 | 15 | (14) | 15 | (82) | (42) | 92 | ||||||||||||||||||||||||
Heating degree days (source: Bloomberg) | 1,164 | 57 | 1 | 742 | 1,186 | 105 | 1 | 491 | ||||||||||||||||||||||||
Heating degree days vs. 20-year average | 85 | (18) | - | 22 | 107 | 30 | - | (229) | ||||||||||||||||||||||||
Estimated impact on sales (GWh) | 350 | 911 | 238 | 4 | 1,503 | 414 | (238) | (195) | (410) | (429) | ||||||||||||||||||||||
Estimated impact on earnings (after-tax $M) | 16 | 50 | 20 | - | 86 | 23 | (15) | (9) | (21) | (21) | ||||||||||||||||||||||
E-AR | ||||||||||||||||||||||||||||||||
Cooling degree days (source: Bloomberg) | 15 | 831 | 1,540 | 114 | 8 | 592 | 1,378 | 161 | ||||||||||||||||||||||||
Cooling degree days vs vs. 20-year average | (10) | 99 | 133 | 7 | (16) | (140) | (29) | 54 | ||||||||||||||||||||||||
Heating degree days (source: Bloomberg) | 1,588 | 125 | 1 | 1,119 | 1,821 | 217 | 4 | 839 | ||||||||||||||||||||||||
Heating degree days vs vs. 20-year average | (21) | (23) | (1) | 17 | 211 | 69 | 2 | (263) | ||||||||||||||||||||||||
Estimated impact on sales (GWh) | (52) | 162 | 257 | 39 | 406 | 138 | (96) | (38) | (86) | (82) | ||||||||||||||||||||||
Estimated impact on earnings (after-tax $M) | (4) | 10 | 19 | 3 | 28 | 8 | (7) | (3) | (4) | (6) | ||||||||||||||||||||||
E-LA | ||||||||||||||||||||||||||||||||
Cooling degree days (source: Bloomberg) | 90 | 1,136 | 1,529 | 279 | 150 | 941 | 1,520 | 399 | ||||||||||||||||||||||||
Cooling degree days vs vs. 20-year average | (27) | 130 | (56) | (23) | 32 | (65) | (65) | 97 | ||||||||||||||||||||||||
Heating degree days (source: Bloomberg) | 984 | 32 | 1 | 588 | 932 | 61 | - | 363 | ||||||||||||||||||||||||
Heating degree days vs vs. 20-year average | 126 | (12) | 1 | 29 | 74 | 17 | - | (196) | ||||||||||||||||||||||||
Estimated impact on sales (GWh) | 137 | 390 | (38) | (41) | 449 | 152 | (89) | (63) | (128) | (127) | ||||||||||||||||||||||
Estimated impact on earnings (after-tax $M) | 6 | 19 | (1) | (3) | 22 | 7 | (4) | (2) | (6) | (5) | ||||||||||||||||||||||
E-MS | ||||||||||||||||||||||||||||||||
Cooling degree days (source: Bloomberg) | 37 | 913 | 1,422 | 119 | 76 | 708 | 1,392 | 255 | ||||||||||||||||||||||||
Cooling degree days vs vs. 20-year average | (14) | 115 | 1 | (41) | 26 | (90) | (29) | 95 | ||||||||||||||||||||||||
Heating degree days (source: Bloomberg) | 1,406 | 90 | 2 | 868 | 1,370 | 130 | 1 | 636 | ||||||||||||||||||||||||
Heating degree days vs vs. 20-year average | 99 | (19) | 1 | (27) | 63 | 22 | - | (258) | ||||||||||||||||||||||||
Estimated impact on sales (GWh) | 84 | 123 | (19) | (24) | 164 | 34 | (57) | (42) | (69) | (134) | ||||||||||||||||||||||
Estimated impact on earnings (after-tax $M) | 4 | 6 | (1) | (1) | 9 | 2 | (3) | (2) | (4) | (7) | ||||||||||||||||||||||
E-NO | ||||||||||||||||||||||||||||||||
Cooling degree days (source: Bloomberg) | 123 | 1,253 | 1,580 | 346 | 179 | 1,088 | 1,680 | 474 | ||||||||||||||||||||||||
Cooling degree days vs vs. 20-year average | (22) | 159 | (70) | (23) | 33 | (6) | 30 | 105 | ||||||||||||||||||||||||
Heating degree days (source: Bloomberg) | 774 | 9 | - | 445 | 720 | 27 | - | 238 | ||||||||||||||||||||||||
Heating degree days vs vs. 20-year average | 77 | (14) | - | 17 | 23 | 4 | - | (191) | ||||||||||||||||||||||||
Estimated impact on sales (GWh) | 29 | 55 | (17) | 1 | 68 | 34 | 1 | 17 | (27) | 25 | ||||||||||||||||||||||
Estimated impact on earnings (after-tax $M) | 2 | 4 | (1) | - | 4 | 2 | - | 1 | (2) | 1 | ||||||||||||||||||||||
E-TX | ||||||||||||||||||||||||||||||||
Cooling degree days (source: Bloomberg) | 86 | 1,315 | 1,714 | 355 | 131 | 1,015 | 1,604 | 478 | ||||||||||||||||||||||||
Cooling degree days vs vs. 20-year average | (45) | 237 | 56 | 7 | - | (63) | (53) | 130 | ||||||||||||||||||||||||
Heating degree days (source: Bloomberg) | 887 | 7 | - | 547 | 855 | 52 | - | 245 |
Heating degree days vs vs. 20-year average | 137 | (23) | - | 62 | 105 | 21 | - | (240) | ||||||||||||||||||||||||
Estimated impact on sales (GWh) | 152 | 181 | 54 | 30 | 416 | 56 | 2 | (69) | (100) | (111) | ||||||||||||||||||||||
Estimated impact on earnings (after-tax $M) | 7 | 10 | 4 | 1 | 23 | 4 | (1) | (3) | (5) | (5) |
UTILITY SECURITIES DETAIL | |||||||||||||||||||||||||||||
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY ARKANSAS, LLC | |||||||||||||||||||||||||||||
BONDS: | BOND | MATURITY | FIRST CALL | CURRENT OR | AS OF DECEMBER 31, | ||||||||||||||||||||||||
CUSIP | TYPE | RATE | DATE | DATE | FIRST CALL PRICE | 2022 | 2021 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29364DAR1 | 3.05% Series | Mortgage | 3.05 | % | 6/23 | Now | MW (T + .20%) | $250 | $250 | ||||||||||||||||||||
29364DAS9 | 3.7% Series | Mortgage | 3.70 | % | 6/24 | Now | MW (T + .15%) | 375 | 375 | ||||||||||||||||||||
29364DAU4 | 3.5% Series | Mortgage | 3.50 | % | 4/26 | Now | MW (T + .20%) | 600 | 600 | ||||||||||||||||||||
29364DAV2 | 4.00% Series | Mortgage | 4.00 | % | 6/28 | Now | MW (T + .20%) | 350 | 350 | ||||||||||||||||||||
29364DAT7 | 4.95% Series | Mortgage | 4.95 | % | 12/44 | Now | MW (T + .30%) | 250 | 250 | ||||||||||||||||||||
29366MAA6 | 4.20% Series | Mortgage | 4.20 | % | 4/49 | Now | MW (T + .20%) | 550 | 350 | ||||||||||||||||||||
29364D100 | 4.875% Series | Mortgage | 4.88 | % | 9/66 | Now | 100 | % | 410 | 410 | |||||||||||||||||||
29366MAB4 | 2.65% Series | Mortgage | 2.65 | % | 6/51 | Now | MW (T + .20%) | 675 | 675 | ||||||||||||||||||||
29366MAC2 | 3.35% Series | Mortgage | 3.35 | % | 6/52 | Now | MW (T + .20%) | 400 | 400 | ||||||||||||||||||||
Total bonds | 3,860 | 3,660 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
76824*AW4 | 3.17% Series M – Variable Interest Entity Note Payable | 3.17 | % | 12/23 | Now | MW (T + .50%) | 40 | 40 | |||||||||||||||||||||
76824*AX2 | 1.84% Series N – Variable Interest Entity Note Payable | 1.84 | % | 7/26 | Now | MW (T + .50%) | 90 | 90 | |||||||||||||||||||||
Credit Facility - Variable Interest Entity | 2.62 | % | 6/25 | — | 5 | ||||||||||||||||||||||||
Long-Term United States Department of Energy Obligation(a) | 195 | 192 | |||||||||||||||||||||||||||
Unamortized Premium and Discount – Net | 13 | 3 | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (33) | (33) | |||||||||||||||||||||||||||
Other | 2 | 2 | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 4,167 | 3,959 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 290 | — | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $3,877 | $3,959 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(b) | $3,539 | $4,177 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (c) | 3.7% | 3.6% | |||||||||||||||||||||||||||
(a) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time | |||||||||||||||||||||||||||||
fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, | |||||||||||||||||||||||||||||
in long-term debt. | |||||||||||||||||||||||||||||
(b) The fair value excludes long-term DOE obligations at Entergy Arkansas and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 196 of 2022 10K) | |||||||||||||||||||||||||||||
and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(c) Rate calculation only includes Bonds and Variable Interest Entities notes |
ENTERGY UTILITY HOLDING COMPANY, LLC | ||||||||||||||||||||
SHARES | ||||||||||||||||||||
AUTHORIZED AND OUTSTANDING | ||||||||||||||||||||
PREFERRED STOCK: | AS OF DECEMBER 31, | AS OF DECEMBER 31, | ||||||||||||||||||
CUSIP | RATE | 2022 | 2021 | 2022 | 2021 | |||||||||||||||
($ millions) | ||||||||||||||||||||
Without sinking fund: | ||||||||||||||||||||
Cumulative, $100 par value: | ||||||||||||||||||||
7.5% Series | 7.50 | % | 110,000 | 110,000 | $107 | $107 | ||||||||||||||
6.25% Series | 6.25 | % | 15,000 | 15,000 | 14 | 14 | ||||||||||||||
6.75% Series | 6.75 | % | 75,000 | 75,000 | 73 | 73 | ||||||||||||||
Total without sinking fund | 200,000 | 200,000 | $195 | $195 | ||||||||||||||||
Note: Dollar amount outstanding is net of preferred stock issuance costs. |
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY LOUISIANA, LLC | |||||||||||||||||||||||||||||
BONDS: | BOND | MATURITY | FIRST CALL | CURRENT OR | AS OF DECEMBER 31, | ||||||||||||||||||||||||
CUSIP | TYPE | RATE | DATE | DATE | FIRST CALL PRICE | 2022 | 2021 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29364WAR9 | 3.30% Series | Mortgage | 3.30 | % | 12/22 | Now | MW (T + .25%) | $— | $200 | ||||||||||||||||||||
29364WAS7 | 4.05% Series | Mortgage | 4.05 | % | 9/23 | Now | MW (T + .20%) | 325 | 325 | ||||||||||||||||||||
29365PAP7 | 5.59% Series | Mortgage | 5.59 | % | 10/24 | Now | MW (T + .40%) | 300 | 300 | ||||||||||||||||||||
29364WAK4 | 5.40% Series | Mortgage | 5.40 | % | 11/24 | Now | MW (T + .35%) | 400 | 400 | ||||||||||||||||||||
29365PAR3 | 3.78% Series | Mortgage | 3.78 | % | 04/25 | Now | MW (T + .20%) | 110 | 110 | ||||||||||||||||||||
29364WAU2 | 3.78% Series | Mortgage | 3.78 | % | 04/25 | Now | MW (T + .20%) | 190 | 190 | ||||||||||||||||||||
29364WAM0 | 4.44% Series | Mortgage | 4.44 | % | 1/26 | Now | MW (T + .30%) | 250 | 250 | ||||||||||||||||||||
29364WAY4 | 2.4% Series | Mortgage | 2.40 | % | 10/26 | Now | MW (T + .15%) | 400 | 400 | ||||||||||||||||||||
29364WAZ1 | 3.12% Series | Mortgage | 3.12 | % | 9/27 | Now | MW (T + .15%) | 450 | 450 | ||||||||||||||||||||
29364WAW8 | 3.25% Series | Mortgage | 3.25 | % | 04/28 | Now | MW (T + .25%) | 425 | 425 | ||||||||||||||||||||
29364WAX6 | 3.05% Series | Mortgage | 3.05 | % | 6/31 | Now | MW (T + .25%) | 325 | 325 | ||||||||||||||||||||
29364WBA5 | 4.0% Series | Mortgage | 4.00 | % | 3/33 | Now | MW (T + .20%) | 750 | 750 | ||||||||||||||||||||
29364WAT5 | 5.0% Series | Mortgage | 5.00 | % | 7/44 | Now | MW (T + .25%) | 170 | 170 | ||||||||||||||||||||
29364WAV0 | 4.95% Series | Mortgage | 4.95 | % | 1/45 | Now | MW (T + .30%) | 450 | 450 | ||||||||||||||||||||
29364WBB3 | 4.2% Series | Mortgage | 4.20 | % | 9/48 | Now | MW (T + .20%) | 900 | 900 | ||||||||||||||||||||
29364WBC1 | 4.2% Series | Mortgage | 4.20 | % | 4/50 | Now | MW (T + .20%) | 525 | 525 | ||||||||||||||||||||
29364W108 | 4.875% Series | Mortgage | 4.88 | % | 9/66 | Now | 100% | 270 | 270 | ||||||||||||||||||||
29364WBD9 | 2.90% Series | Mortgage | 2.90 | % | 3/51 | Now | MW (T +.20%) | 650 | 650 | ||||||||||||||||||||
29364WBF4 | 0.62% Series | Mortgage | 0.62 | % | 45253 | Now | 100% | 665 | 1,100 | ||||||||||||||||||||
29364WBE7 | 1.60% Series | Mortgage | 1.60 | % | 12/30 | Now | MW (T +.15%) | 300 | 300 | ||||||||||||||||||||
29364WBH0 | 2.35% Series | Mortgage | 2.35 | % | 6/32 | Now | MW (T +.15%) | 500 | 500 | ||||||||||||||||||||
29364WBJ6 | 3.10% Series | Mortgage | 3.10 | % | 6/41 | Now | MW (T +.15%) | 500 | 500 | ||||||||||||||||||||
29364WBK3 | 0.95% Series | Mortgage | 0.95 | % | 10/24 | Now | 100% | 1,000 | 1,000 | ||||||||||||||||||||
29364WBL1 | 4.75% Series | Mortgage | 4.75 | % | 9/52 | 3/15/52 | MW (T + .25%) | 500 | — | ||||||||||||||||||||
54628CUG5 | 2.0% Series – Louisiana Local Government Environnmental | Governmental(a,b) | 2.00 | % | 6/30 | 4/1/26 | 100% | 16 | 16 | ||||||||||||||||||||
54628CUH3 | 2.5% Series – Louisiana Local Government Environnmental | Governmental(a,b) | 2.50 | % | 4/36 | 4/1/26 | 100% | 182 | 182 | ||||||||||||||||||||
Total bonds | $10,554 | $10,689 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
$350M Bank Credit Facility | 7.75 | % | 6/27 | 50 | 125 | ||||||||||||||||||||||||
76822*AN6 | 3.22% Series I – Variable Interest Entity Note Payable | 3.22 | % | 12/23 | Now | MW (T + .50%) | 20 | 20 |
76803@AU1 | 2.51% Series V - Variable Interest Entity Note Payable | 2.51 | % | 6/27 | Now | MW (T + .50%) | 70 | 70 | |||||||||||||||||||||
Credit Facility – Variable Interest Entity – River Bend | 2.17 | % | 6/23 | 13 | 43 | ||||||||||||||||||||||||
Credit Facility – Variable Interest Entity – Waterford | 2.74 | % | 6/23 | 61 | 40 | ||||||||||||||||||||||||
Unamortized Premium and Discount – Net | (8) | (8) | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (64) | (68) | |||||||||||||||||||||||||||
Other | 4 | 4 | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 10,699 | 10,914 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 1,010 | 200 | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $9,689 | $10,714 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(c) | $9,445 | $11,493 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (d) | 3.3% | 3.1% | |||||||||||||||||||||||||||
(a) Consists of pollution control revenue bonds and environmental revenue bonds. | |||||||||||||||||||||||||||||
(b) The bonds are secured by a series of collateral first mortgage bonds. | |||||||||||||||||||||||||||||
(c) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 196 of 2022 10-K) and are based on prices derived from inputs such as benchmark yields | |||||||||||||||||||||||||||||
and reported trades. | |||||||||||||||||||||||||||||
(d) Rate calculation only includes Bonds and Variable Interest Entities notes |
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||||||||||||||||||||
BONDS: | BOND | MATURITY | FIRST CALL | CURRENT OR | AS OF DECEMBER 31, | ||||||||||||||||||||||||
CUSIP | TYPE | RATE | DATE | DATE | FIRST CALL PRICE | 2022 | 2021 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29364NAR9 | 3.1% Series | Mortgage | 3.10 | % | 7/23 | Now | MW (T + .25%) | $250 | $250 | ||||||||||||||||||||
29364NAS7 | 3.75% Series | Mortgage | 3.75 | % | 7/24 | Now | MW (T + .15%) | 100 | 100 | ||||||||||||||||||||
29364NAU2 | 3.25% Series | Mortgage | 3.25 | % | 12/27 | Now | MW (T + .15%) | 150 | 150 | ||||||||||||||||||||
29364NAT5 | 2.85% Series | Mortgage | 2.85 | % | 6/28 | Now | MW (T + .20%) | 375 | 375 | ||||||||||||||||||||
29365*AA6 | 4.52% Series | Mortgage | 4.52 | % | 12/38 | Now | MW (T + .50%) | 55 | 55 | ||||||||||||||||||||
29366WAA4 | 3.85% Series | Mortgage | 3.85 | % | 6/49 | Now | MW (T + .20%) | 435 | 435 | ||||||||||||||||||||
29364N108 | 4.90% Series | Mortgage | 4.90 | % | 10/66 | Now | 100% | 260 | 260 | ||||||||||||||||||||
29366WAB2 | 3.50% Series | Mortgage | 3.50 | % | 6/51 | Now | MW (T + .35%) | 370 | 370 | ||||||||||||||||||||
29366WAC0 | 2.55% Series | Mortgage | 2.55 | % | 12/33 | Now | MW (T + .20%) | 200 | 200 | ||||||||||||||||||||
Total bonds | 2,195 | 2,195 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
Unsecured Term Loan | 4.08 | % | 12/23 | 150 | — | ||||||||||||||||||||||||
Unamortized Premium and Discount – Net | 6 | 6 | |||||||||||||||||||||||||||
Unamortized Debt Issuance Cost | (20) | (21) | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 2,331 | 2,180 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 400 | — | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $1,931 | $2,180 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(a) | $1,987 | $2,346 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (b) | 3.5 | % | 3.5 | % | |||||||||||||||||||||||||
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 196 of 2022 10-K) and are based on prices derived from inputs such as benchmark yields | |||||||||||||||||||||||||||||
and reported trades. | |||||||||||||||||||||||||||||
(b) Rate calculation only includes Bonds |
ENTERGY NEW ORLEANS, LLC | |||||||||||||||||||||||||||||
BONDS: | BOND | MATURITY | FIRST CALL | CURRENT OR | AS OF DECEMBER 31, | ||||||||||||||||||||||||
CUSIP | TYPE | RATE | DATE | DATE | FIRST CALL PRICE | 2022 | 2021 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29364PAN3 | 3.9% Series | Mortgage | 3.90 | % | 07/23 | Now | MW (T + .30%) | $100 | $100 | ||||||||||||||||||||
29364PAP8 | 4.0% Series | Mortgage | 4.00 | % | 6/26 | Now | MW (T + .35%) | 85 | 85 | ||||||||||||||||||||
29365@AA4 | 4.51% Series | Mortgage | 4.51 | % | 9/33 | Now | MW (T + .50%) | 60 | 60 | ||||||||||||||||||||
29364P509 | 5.0% Series | Mortgage | 5.00 | % | 12/52 | Now | 100 | % | 30 | 30 | |||||||||||||||||||
29364P103 | 5.5% Series | Mortgage | 5.50 | % | 4/66 | Now | 100 | % | 110 | 110 | |||||||||||||||||||
29365@AB2 | 3.0% Series | Mortgage | 3.00 | % | 3/25 | Now | MW (T + .50%) | 78 | 78 | ||||||||||||||||||||
29365@AC0 | 3.75% Series | Mortgage | 3.75 | % | 3/40 | Now | MW (T + .50%) | 62 | 62 | ||||||||||||||||||||
29365@AD8 | 4.19% Series | Mortgage | 4.19 | % | 11/31 | Now | MW (T + .50%) | 90 | 90 | ||||||||||||||||||||
29365@AE6 | 4.51% Series | Mortgage | 4.51 | % | 11/36 | Now | MW (T + .50%) | 70 | 70 | ||||||||||||||||||||
Total bonds | 685 | 685 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
29277VAA4 | 2.67% Series Senior Secured - Securitization Bond | 2.67 | % | 6/27 | 19 | 31 | |||||||||||||||||||||||
Unsecured Term Loan | 2.50 | % | 5/23 | 70 | 70 | ||||||||||||||||||||||||
Payable to Entergy Louisiana | 11/35 | 10 | 11 | ||||||||||||||||||||||||||
Unamortized Premium and Discount – Net | — | — | |||||||||||||||||||||||||||
Unamortized Debt Issuance Cost | (8) | (9) | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 776 | 788 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 171 | 1 | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $604 | $787 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(a) | $708 | $766 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (b) | 4.1 | % | 4.2 | % | |||||||||||||||||||||||||
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 196 of 2022 10-K) and are based on prices derived from inputs such as benchmark yields | |||||||||||||||||||||||||||||
and reported trades. | |||||||||||||||||||||||||||||
(b) Rate calculation only includes Bonds and Securitization Bonds |
UTILITY LONG-TERM DEBT AND PREFERRED STOCK | |||||||||||||||||||||||||||||
ENTERGY TEXAS, INC. | |||||||||||||||||||||||||||||
BONDS: | BOND | MATURITY | FIRST CALL | CURRENT OR | AS OF DECEMBER 31, | ||||||||||||||||||||||||
CUSIP | TYPE | RATE | DATE | DATE | FIRST CALL PRICE | 2022 | 2021 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
29365TAF1 | 3.45% Series | Mortgage | 3.45 | % | 12/27 | Now | MW (T + .20%) | $150 | $150 | ||||||||||||||||||||
29365TAG9 | 4.0% Series | Mortgage | 4.00 | % | 3/29 | Now | MW (T + .25%) | 300 | 300 | ||||||||||||||||||||
29365TAH7 | 4.5% Series | Mortgage | 4.50 | % | 3/39 | Now | MW (T + .25%) | 400 | 400 | ||||||||||||||||||||
29365TAD6 | 5.15% Series | Mortgage | 5.15 | % | 6/45 | Now | MW (T + .35%) | 250 | 250 | ||||||||||||||||||||
29365TAJ3 | 3.55% Series | Mortgage | 3.55 | % | 9/49 | Now | MW (T + .20%) | 475 | 475 | ||||||||||||||||||||
29365TAK0 | 1.75% Series | Mortgage | 1.75 | % | 3/31 | Now | MW (T + .20%) | 600 | 600 | ||||||||||||||||||||
29365TAL8 | 1.50% Series | Mortgage | 1.50 | % | 9/26 | Now | MW (T + .15%) | 130 | 130 | ||||||||||||||||||||
29365TAM6 | 5.00% Series | Mortgage | 5.00 | % | 9/52 | Now | MW (T + .30%) | 325 | — | ||||||||||||||||||||
Total bonds | 2,630 | 2,305 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
29365KAC7 | 4.38% Series Senior Secured - Securitization Bond | 4.38 | % | 11/23 | — | 54 | |||||||||||||||||||||||
3.051% Series Senior Secured - Securitization Bond | 3.05 | % | 12/28 | 88 | — | ||||||||||||||||||||||||
3.697% Series Senior Secured - Securitization Bond | 3.70 | % | 12/36 | 191 | — | ||||||||||||||||||||||||
Unamortized Premium and Discount – Net | 12 | 14 | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (24) | (19) | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 2,896 | 2,354 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | — | — | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $2,896 | $2,354 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(a) | $2,486 | $2,484 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (b) | 3.6 | % | 3.4 | % | |||||||||||||||||||||||||
(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 196 of 2022 10-K) and are based on prices derived from inputs such as benchmark | |||||||||||||||||||||||||||||
yields and reported trades. | |||||||||||||||||||||||||||||
(b) Rate calculation only includes Bonds and Securitization Bonds |
AUTHORIZED AND OUTSTANDING | ||||||||||||||||||||
PREFERRED STOCK: | AS OF DECEMBER 31, | AS OF DECEMBER 31, | ||||||||||||||||||
CUSIP | RATE | 2022 | 2021 | 2022 | 2021 | |||||||||||||||
($ millions) | ||||||||||||||||||||
Without sinking fund: | ||||||||||||||||||||
Cumulative, $100 par value: | ||||||||||||||||||||
29365T302 | 5.375% Series | 5.375 | % | 1,400,000 | 1,400,000 | $35 | $35 | |||||||||||||
N/A | 5.100% Series | 5.100 | % | 150,000 | 150,000 | 4 | 4 | |||||||||||||
Total without sinking fund | 1,550,000 | 1,550,000 | $39 | $39 |
SYSTEM ENERGY RESOURCES, INC. | |||||||||||||||||||||||||||||
BONDS: | BOND | MATURITY | FIRST CALL | CURRENT OR | AS OF DECEMBER 31, | ||||||||||||||||||||||||
CUSIP | TYPE | RATE | DATE | DATE | FIRST CALL PRICE | 2022 | 2021 | ||||||||||||||||||||||
($ millions) | |||||||||||||||||||||||||||||
605279MG0 | 2.5% Series – MBFC | Governmental(a) | 2.50 | % | 4/22 | Now | 100 | % | $— | $50 | |||||||||||||||||||
605279MK1 | 2.375% Series - MBFC | Governmental(a) | 2.38 | % | 6/44 | 6/26 | 100 | % | 84 | 84 | |||||||||||||||||||
871911AS2 | 4.10% Series | Mortgage | 4.10 | % | 4/23 | Now | MW (T + 0.40%) | 250 | 250 | ||||||||||||||||||||
871911AT0 | 2.14% Series | Mortgage | 2.14 | % | 12/25 | Now | MW (T + 0.30%) | 200 | 200 | ||||||||||||||||||||
Total bonds | 534 | 584 | |||||||||||||||||||||||||||
OTHER LONG-TERM DEBT: | |||||||||||||||||||||||||||||
Unsecured Term Loan | 3.72 | % | 11/23 | 50 | |||||||||||||||||||||||||
76823#AU5 | 2.05% Series K – Variable Interest Entity Note Payable | 2.05 | % | 9/27 | 90 | 90 | |||||||||||||||||||||||
Credit Facility – Variable Interest Entity | 2.77 | % | 6/25 | 73 | 36 | ||||||||||||||||||||||||
361561AA1 | Grand Gulf Lease Obligation 5.13% | 5.13 | % | 9/27 | 34 | 34 | |||||||||||||||||||||||
Unamortized Premium and Discount – Net | — | — | |||||||||||||||||||||||||||
Unamortized Debt Issuance Costs | (3) | (3) | |||||||||||||||||||||||||||
TOTAL LONG-TERM DEBT | 778 | 741 | |||||||||||||||||||||||||||
Less Amount Due Within One Year | 300 | 50 | |||||||||||||||||||||||||||
Long-Term Debt Excluding Amount Due Within One Year | $478 | $691 | |||||||||||||||||||||||||||
Fair Value of Long-Term Debt(b) | $702 | $743 | |||||||||||||||||||||||||||
Weighted-average annualized coupon rate (c) | 3.0 | % | 2.9 | % | |||||||||||||||||||||||||
(a) Consists of pollution control revenue bonds and environmental revenue bonds. | |||||||||||||||||||||||||||||
(b) The fair value excludes lease obligations of $34 million at System Energy and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pg 196 of 2022 10K) and | |||||||||||||||||||||||||||||
and are based on prices derived from inputs such as benchmark yields and reported trades. | |||||||||||||||||||||||||||||
(c) Rate calculation only includes Bonds and Variable Interest Entities notes |
UTILITY STATISTICAL INFORMATION | |||||||||||
UTILITY OWNED AND LEASED CAPABILITY | |||||||||||
As of December 31, 2022 | PLANTS | UNITS | (MW)(a) | ||||||||
Plants that use fuel type: | |||||||||||
Gas and Oil | 25 | 55 | 16,471 | ||||||||
Coal | 4 | 6 | 2,091 | ||||||||
Hydro | 2 | 5 | 73 | ||||||||
Nuclear | 4 | 5 | 5,211 | ||||||||
Solar | 9 | 9 | 229 | ||||||||
Total | 44 | 80 | 24,075 | ||||||||
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating | |||||||||||
conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. |
UTILITY SELECTED OPERATING DATA | |||||||||||
2022 | 2021 | 2020 | |||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas and Oil | 69,663 | 61,828 | 60,734 | ||||||||
Coal | 7,644 | 7,693 | 4,169 | ||||||||
Nuclear | 38,149 | 41,352 | 37,807 | ||||||||
Hydro | 142 | 177 | 209 | ||||||||
Solar | 372 | 36 | 6 | ||||||||
Total Net Generation | 115,970 | 111,086 | 102,925 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | — | — | — | ||||||||
Non-affiliated Companies | 24,779 | 24,709 | 26,651 | ||||||||
Total Purchased Power | 24,779 | 24,709 | 26,651 | ||||||||
Total Sources of Energy | 140,749 | 135,795 | 129,576 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 37,134 | 35,230 | 35,173 | ||||||||
Commercial | 27,982 | 26,800 | 26,465 | ||||||||
Industrial | 52,501 | 49,866 | 47,117 | ||||||||
Governmental | 2,512 | 2,426 | 2,415 | ||||||||
Total Retail | 120,129 | 114,322 | 111,170 | ||||||||
Sales for Resale | 15,968 | 16,656 | 13,658 | ||||||||
Unbilled Energy(a) | — | — | 40 | ||||||||
Total Electric Energy Sales | 136,097 | 130,978 | 124,868 | ||||||||
Line Losses and Company Usage | 4,324 | 4,828 | 4,709 | ||||||||
Total Uses of Energy | 140,421 | 135,806 | 129,577 | ||||||||
Electric Energy Sales (Weather Adjusted)(GWh): | |||||||||||
Residential | 35,958 | 35,724 | 36,396 | ||||||||
Commercial | 27,701 | 26,866 | 26,639 | ||||||||
Industrial | 52,549 | 49,820 | 47,117 | ||||||||
Governmental | 2,493 | 2,437 | 2,399 | ||||||||
Total Weather Adjusted Sales | 118,701 | 114,847 | 112,551 | ||||||||
Peak Demand (MW) | 22,301 | 22,051 | 21,340 | ||||||||
Operational Summer Capacity at Peak (MW) | 26,208 | 26,827 | 25,665 | ||||||||
Annual System Load Factor (%) | 64 | 62 | 62 | ||||||||
Retail Electric Sales Growth Rate (%) | 5.1 | 3.2 | (4.1) | ||||||||
Retail Electric Sales Weather-Adjusted Growth Rate (%) | 3.4 | 2.0 | (2.1) | ||||||||
Average Fuel Cost (cents/KWh) | |||||||||||
Natural Gas | 5.27 | 3.75 | 1.92 | ||||||||
Nuclear Fuel | 0.57 | 0.56 | 0.57 | ||||||||
Coal | 2.89 | 2.48 | 2.54 | ||||||||
Renewables | 7.00 | 9.07 | 8.28 | ||||||||
Purchased Power | 6.54 | 4.76 | 3.35 | ||||||||
MISO Purchases | 5.95 | 4.08 | 2.48 | ||||||||
(a) Electric Energy Sales include Unbilled Energy beginning in 2021. | |||||||||||
Certain prior year data has been reclassified to conform with current year presentation. |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||
2022 CONSOLIDATING UTILITY ELECTRIC STATISTICAL INFORMATION | |||||||||||||||||||||||||||||
E-AR | E-LA | E-MS | E-NO | E-TX | SERI | ELIMINATIONS | UTILITY | % | |||||||||||||||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||||||||||||||||||||
Residential | 946,719 | 1,775,552 | 651,455 | 335,473 | 930,842 | — | — | 4,640,041 | 35 | % | |||||||||||||||||||
Commercial | 530,512 | 1,274,665 | 508,996 | 256,963 | 516,539 | — | — | 3,087,676 | 23 | % | |||||||||||||||||||
Industrial | 559,147 | 2,275,978 | 182,270 | 36,970 | 661,693 | — | — | 3,716,058 | 28 | % | |||||||||||||||||||
Governmental | 20,186 | 94,910 | 52,861 | 87,514 | 31,134 | — | — | 286,606 | 2 | % | |||||||||||||||||||
Total Retail | 2,056,565 | 5,421,105 | 1,395,582 | 716,920 | 2,140,208 | — | — | 11,730,380 | 89 | % | |||||||||||||||||||
Sales for Resale | 443,685 | 555,640 | 167,867 | 120,851 | 66,782 | 659,018 | (1,155,070) | 858,772 | 7 | % | |||||||||||||||||||
Other | 173,028 | 270,188 | 60,808 | 17,729 | 81,914 | (205) | (5,730) | 597,732 | 5 | % | |||||||||||||||||||
Total Electric Operating Revenues | 2,673,278 | 6,246,933 | 1,624,257 | 855,499 | 2,288,904 | 658,812 | (1,160,800) | 13,186,884 | 100 | % | |||||||||||||||||||
SOURCES OF ENERGY (GWh) | |||||||||||||||||||||||||||||
Net Generation: | |||||||||||||||||||||||||||||
Gas and Oil | 9,577 | 34,996 | 10,855 | 3,475 | 10,760 | — | — | 69,663 | 49 | % | |||||||||||||||||||
Coal | 3,929 | 1,493 | 1,118 | — | 1,104 | — | — | 7,644 | 5 | % | |||||||||||||||||||
Nuclear | 14,306 | 16,104 | — | — | — | 7,739 | — | 38,149 | 27 | % | |||||||||||||||||||
Hydro | 142 | — | — | — | — | — | — | 142 | — | % | |||||||||||||||||||
Solar | 225 | — | 105 | 42 | — | — | — | 372 | — | % | |||||||||||||||||||
Total Net Generation | 28,179 | 52,593 | 12,078 | 3,517 | 11,864 | 7,739 | — | 115,970 | 82 | % | |||||||||||||||||||
Purchased Power: | |||||||||||||||||||||||||||||
Affiliated Companies | 2,786 | 2,047 | 3,092 | 4,076 | 3,340 | — | (15,341) | — | — | ||||||||||||||||||||
Non-affiliated Companies | 1,503 | 13,316 | 1,578 | 546 | 7,836 | — | — | 24,779 | 18 | % | |||||||||||||||||||
Total Purchased Power | 4,289 | 15,363 | 4,670 | 4,622 | 11,176 | — | (15,341) | 24,779 | 18 | % | |||||||||||||||||||
Total Sources of Energy | 32,468 | 67,955 | 16,748 | 8,139 | 23,040 | 7,739 | (15,341) | 140,749 | 100 | % | |||||||||||||||||||
USES OF ENERGY (GWh) | |||||||||||||||||||||||||||||
Electric Energy Sales: | |||||||||||||||||||||||||||||
Residential | 8,147 | 14,119 | 5,679 | 2,410 | 6,779 | — | — | 37,134 | 31 | % | |||||||||||||||||||
Commercial | 5,615 | 10,927 | 4,586 | 2,096 | 4,758 | — | — | 27,982 | 23 | % | |||||||||||||||||||
Industrial | 8,493 | 31,666 | 2,359 | 411 | 9,572 | — | — | 52,501 | 44 | % | |||||||||||||||||||
Governmental | 218 | 820 | 414 | 789 | 271 | — | — | 2,512 | 2 | % | |||||||||||||||||||
Total Retail | 22,473 | 57,532 | 13,038 | 5,706 | 21,380 | — | — | 120,129 | 100 | % | |||||||||||||||||||
Sales for Resale | 8,426 | 8,839 | 2,914 | 2,298 | 1,092 | 7,739 | (15,341) | 15,968 | — | ||||||||||||||||||||
Total Electric Energy Sales | 30,899 | 66,371 | 15,952 | 8,004 | 22,472 | 7,739 | (15,341) | 136,097 | — | ||||||||||||||||||||
Line Losses and Company Usage | 1,343 | 1,584 | 693 | 135 | 568 | — | — | 4,324 | — | ||||||||||||||||||||
Total Uses of Energy | 32,243 | 67,955 | 16,645 | 8,139 | 23,040 | 7,739 | (15,341) | 140,421 | — | ||||||||||||||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||||||||||||||||||||
Residential | 11.62 | 12.58 | 11.47 | 13.92 | 13.73 | — | — | 12.50 | — | ||||||||||||||||||||
Commercial | 9.45 | 11.67 | 11.10 | 12.26 | 10.86 | — | — | 11.03 | — | ||||||||||||||||||||
Industrial | 6.58 | 7.19 | 7.73 | 9.00 | 6.91 | — | — | 7.08 | — | ||||||||||||||||||||
Governmental | 9.26 | 11.57 | 12.77 | 11.09 | 11.49 | — | — | 11.41 | — | ||||||||||||||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||||||||||||||||||||
(as of December 31, 2022) | |||||||||||||||||||||||||||||
Residential | 604,483 | 949,259 | 383,955 | 188,016 | 438,933 | — | — | 2,564,646 | 85 | % | |||||||||||||||||||
Commercial | 100,616 | 132,659 | 67,043 | 18,784 | 52,305 | — | — | 371,407 | 12 | % | |||||||||||||||||||
Industrial | 24,401 | 11,165 | 4,201 | 1,765 | 6,179 | — | — | 47,711 | 2 | % | |||||||||||||||||||
Governmental | 804 | 8,334 | 5,163 | 1,943 | 2,060 | — | — | 18,304 | 1 | % | |||||||||||||||||||
Total | 730,304 | 1,101,417 | 460,362 | 210,508 | 499,477 | — | — | 3,002,068 | 100 | % |
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY ARKANSAS, LLC | |||||||||||
2022 | 2021 | 2020 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 946,719 | 882,773 | 841,162 | ||||||||
Commercial | 530,512 | 480,401 | 466,273 | ||||||||
Industrial | 559,147 | 496,661 | 461,907 | ||||||||
Governmental | 20,186 | 19,112 | 18,011 | ||||||||
Total Retail | 2,056,565 | 1,878,948 | 1,787,352 | ||||||||
Sales for Resale | 443,685 | 311,791 | 173,115 | ||||||||
Other | 173,028 | 147,852 | 124,026 | ||||||||
Total Electric Operating Revenues | 2,673,278 | 2,338,591 | 2,084,494 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas and Oil | 9,577 | 7,654 | 6,358 | ||||||||
Coal | 3,929 | 4,795 | 2,719 | ||||||||
Nuclear | 14,306 | 13,531 | 15,058 | ||||||||
Hydro | 142 | 177 | 209 | ||||||||
Solar | 225 | — | — | ||||||||
Total Net Generation | 28,179 | 26,157 | 24,344 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 2,786 | 3,814 | 2,105 | ||||||||
Non-affiliated Companies | 1,503 | 1,805 | 1,533 | ||||||||
Total Purchased Power | 4,289 | 5,619 | 3,638 | ||||||||
Total Sources of Energy | 32,468 | 31,775 | 27,982 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 8,147 | 8,054 | 7,584 | ||||||||
Commercial | 5,615 | 5,492 | 5,356 | ||||||||
Industrial | 8,493 | 8,508 | 7,586 | ||||||||
Governmental | 218 | 225 | 223 | ||||||||
Total Retail | 22,473 | 22,280 | 20,748 | ||||||||
Sales for Resale | 8,651 | 8,404 | 5,856 | ||||||||
Unbilled Energy | — | (189) | — | ||||||||
Total Electric Energy Sales | 31,125 | 30,494 | 26,604 | ||||||||
Line Losses and Company Usage | 1,343 | 1,280 | 1,378 | ||||||||
Total Uses of Energy | 32,468 | 31,775 | 27,983 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 11.62 | 10.96 | 11.09 | ||||||||
Commercial | 9.45 | 8.75 | 8.71 | ||||||||
Industrial | 6.58 | 5.84 | 6.09 | ||||||||
Governmental | 9.26 | 8.49 | 8.08 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2022) | |||||||||||
Residential | 604,483 | 601,511 | 600,286 | ||||||||
Commercial | 100,616 | 100,595 | 95,810 | ||||||||
Industrial | 24,401 | 25,718 | 25,134 | ||||||||
Governmental | 804 | 774 | 696 | ||||||||
Total | 730,304 | 728,598 | 721,926 |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY ARKANSAS, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL PLANT – 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
OWNED AND | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | ||||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | FUEL TYPE | PURPOSE | GENERATION | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY(b) | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Lake Catherine | 4 | 100 | % | 1970 | 522 | Gas/Oil | Peaking | 11,560 | 1 | 281 | 145,033 | 201,480 | 170.3 | 34,317 | |||||||||||||||||||||||||||||||||
Ouachita | 1 | 100 | % | 2002 | 243 | Gas | Intermediate | 7,208 | 4 | 91 | 719,513 | Dry LNB, SCR | 2,889,736 | 50.8 | 146,833 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2002 | 237 | Gas | Intermediate | 3 | 77 | 602,942 | Dry LNB, SCR | |||||||||||||||||||||||||||||||||||||
Hot Spring | 1 | 100 | % | 2002 | 593 | Gas | Intermediate | 7,341 | 7 | 124 | 1,471,261 | Dry LNB, SCR | 3,358,595 | 51.7 | 173,528 | ||||||||||||||||||||||||||||||||
Independence | 1 | 31.5 | % | 1983 | 259 | Coal | Base | 10,592 | 2,487 | 937 | 1,137,035 | 7 | LNB w/Sep OFA, ESP, ACI | 938,201 | 36.1 | 33,830 | |||||||||||||||||||||||||||||||
White Bluff | 1 | 57 | % | 1980 | 466 | Coal | Base | 10,783 | 4,320 | 1,439 | 1,891,628 | 11 | LNB w/Sep OFA, ESP, ACI | 1,577,762 | 39.1 | 116,830 | |||||||||||||||||||||||||||||||
2 | 57 | % | 1981 | 468 | Coal | Base | 3,637 | 1,275 | 1,666,353 | 8 | LNB w/Sep OFA, ESP, ACI | 1,413,862 | |||||||||||||||||||||||||||||||||||
Carpenter | 1 | 100 | % | 1932 | 31 | Hydro | Peaking | 111,929 | 19.0 | 2,125 | |||||||||||||||||||||||||||||||||||||
2 | 100 | % | 1932 | 30 | Hydro | Peaking | |||||||||||||||||||||||||||||||||||||||||
Remmel | 1 | 100 | % | 1925 | 4 | Hydro | Peaking | 30,714 | 50.0 | 1,537 | |||||||||||||||||||||||||||||||||||||
2 | 100 | % | 1925 | 4 | Hydro | Peaking | |||||||||||||||||||||||||||||||||||||||||
3 | 100 | % | 1925 | 4 | Hydro | Peaking | |||||||||||||||||||||||||||||||||||||||||
Union Power Station | 2 | 100 | % | 2003 | 496 | Gas | Intermediate | 7,243 | 7 | 135 | 1,346,912 | Dry LNB, SCR | 3,127,273 | 51.0 | 159,349 | ||||||||||||||||||||||||||||||||
Arkansas | 1 | 100 | % | 1974 | 833 | Nuclear PWR(c) | Base | N/A | 5,539,977 | 22.8 | 326,156 | ||||||||||||||||||||||||||||||||||||
Nuclear One | 2 | 100 | % | 1980 | 989 | Nuclear PWR(c) | Base | N/A | 8,767,133 | ||||||||||||||||||||||||||||||||||||||
Searcy Solar (+Battery) | 1 | 100 | % | 2022 | 100 (10(d)) | Solar | Non-dispatchable | 224,589 | 5.8 | 1,293 | |||||||||||||||||||||||||||||||||||||
Total | 5,276 | 10,465 | 4,360 | 8,980,676 | 25 | 28,181,252 | 35.3 | 995,798 | |||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. | |||||||||||||||||||||||||||||||||||||||||||||||
(b) Installed NOx, particulate matter and mercury emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/Fuel Reburning (Combus Mod/Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator | |||||||||||||||||||||||||||||||||||||||||||||||
(ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction | |||||||||||||||||||||||||||||||||||||||||||||||
(SCR) or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2 or CO2 control equipment operating on any unit. | |||||||||||||||||||||||||||||||||||||||||||||||
(c) Pressurized Water Reactor. | |||||||||||||||||||||||||||||||||||||||||||||||
(d) MW amount equals the capacity rating of the battery. |
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY LOUISIANA, LLC | |||||||||||
2022 | 2021 | 2020 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 1,775,552 | 1,484,612 | 1,270,187 | ||||||||
Commercial | 1,274,665 | 1,055,825 | 886,548 | ||||||||
Industrial | 2,275,978 | 1,771,311 | 1,314,234 | ||||||||
Governmental | 94,910 | 82,503 | 68,901 | ||||||||
Total Retail | 5,421,105 | 4,394,252 | 3,539,870 | ||||||||
Sales for Resale | 555,640 | 391,424 | 333,594 | ||||||||
Other | 270,188 | 208,784 | 145,599 | ||||||||
Total Electric Operating Revenues | 6,246,933 | 4,994,459 | 4,019,063 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas and Oil | 34,996 | 31,257 | 31,528 | ||||||||
Coal | 1,493 | 1,081 | 416 | ||||||||
Nuclear | 16,104 | 17,227 | 16,929 | ||||||||
Hydro | — | — | — | ||||||||
Total Net Generation | 52,593 | 49,566 | 48,873 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 2,047 | 3,605 | 2,648 | ||||||||
Non-affiliated Companies | 13,316 | 11,072 | 11,821 | ||||||||
Total Purchased Power | 15,363 | 14,676 | 14,469 | ||||||||
Total Sources of Energy | 67,955 | 64,242 | 63,342 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 14,119 | 13,588 | 13,771 | ||||||||
Commercial | 10,927 | 10,385 | 10,465 | ||||||||
Industrial | 31,666 | 29,869 | 28,881 | ||||||||
Governmental | 820 | 792 | 779 | ||||||||
Total Retail | 57,532 | 54,633 | 53,896 | ||||||||
Sales for Resale | 8,839 | 7,714 | 7,950 | ||||||||
Unbilled Energy | — | (38) | (103) | ||||||||
Total Electric Energy Sales | 66,371 | 62,309 | 61,743 | ||||||||
Line Losses and Company Usage | 1,584 | 1,933 | 1,599 | ||||||||
Total Uses of Energy | 67,955 | 64,242 | 63,342 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 12.58 | 10.93 | 9.22 | ||||||||
Commercial | 11.67 | 10.17 | 8.47 | ||||||||
Industrial | 7.19 | 5.93 | 4.55 | ||||||||
Governmental | 11.57 | 10.42 | 8.84 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2022) | |||||||||||
Residential | 949,259 | 946,961 | 944,762 | ||||||||
Commercial | 132,659 | 133,740 | 132,352 | ||||||||
Industrial | 11,165 | 11,907 | 10,956 | ||||||||
Governmental | 8,334 | 8,189 | 7,996 | ||||||||
Total | 1,101,417 | 1,100,797 | 1,096,066 |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY LOUISIANA, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL PLANT – 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
OWNED AND | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | ||||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | FUEL TYPE | PURPOSE | GENERATION | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY(b) | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Acadia | 2 | 100 | % | 2002 | 526 | Gas | Intermediate | 7,462 | 6 | 89 | 1,131,224 | SCR | 2,596,009 | 59.4 | 154,258 | ||||||||||||||||||||||||||||||||
Little Gypsy | 2 | 100 | % | 1966 | 366 | Gas/Oil | Intermediate | 12,181 | 2 | 441 | 383,076 | BOOS/Combus Mod/Fuel Reburn | 819,505 | 100.3 | 82,207 | ||||||||||||||||||||||||||||||||
3 | 100 | % | 1969 | 501 | Gas/Oil | Intermediate | 1 | 481 | 194,449 | BOOS/IFGR | |||||||||||||||||||||||||||||||||||||
Ninemile Point | 4 | 100 | % | 1971 | 741 | Gas/Oil | Intermediate | 10,364 | 6 | 2,139 | 1,229,288 | BOOS/IFGR | 4,590,711 | 80.3 | 368,674 | ||||||||||||||||||||||||||||||||
5 | 100 | % | 1973 | 741 | Gas/Oil | Intermediate | 8 | 3,812 | 1,606,360 | BOOS/IFGR | |||||||||||||||||||||||||||||||||||||
6 | 100 | % | 2014 | 557 | Gas/Oil | Intermediate | 6,966 | 8 | 164 | 1,603,789 | SCR, O2 Catalyst, Water/Steam Injection | 3,861,485 | 50.5 | 195,106 | |||||||||||||||||||||||||||||||||
Perryville | 1 | 100 | % | 2002 | 579 | Gas | Intermediate | 6,996 | 5 | 126 | 1,062,108 | Dry LNB, SCR | 2,577,308 | 53.8 | 146,191 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2001 | 151 | Gas | Peaking | 3 | 63 | 96,153 | None | 139,360 | ||||||||||||||||||||||||||||||||||||
J. Wayne Leonard | 1 | 100 | % | 2019 | 904 | Gas | Intermediate | 6,977 | 12 | 149 | 2,344,568 | Dry LNB, SCR, O2 Catalyst | 5,529,179 | 57.4 | 317,337 | ||||||||||||||||||||||||||||||||
Lake Charles | 1 | 100 | % | 2020 | 919 | Gas | Intermediate | 6,897 | 12 | 134 | 2,466,854 | DLNB/SCR, O2 Catalyst | 6,083,981 | 53.2 | 323,887 | ||||||||||||||||||||||||||||||||
Sterlington | 7 | 100 | % | 1974 | — | Gas/Oil | Reserve | 21,891 | — | 13 | 3,430 | 2,843 | 1,085 | ||||||||||||||||||||||||||||||||||
Waterford | 1 | 100 | % | 1975 | — | Gas/Oil | Reserve | 11,465 | — | — | — | LNCB | 350,224 | 123.3 | 43,175 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 1975 | 417 | Gas/Oil | Intermediate | 1 | 378 | 233,778 | LNCB | |||||||||||||||||||||||||||||||||||||
4 | 100 | % | 2009 | 30 | Oil | Peaking | 3 | 7 | 9,487 | Water/Steam Injection | |||||||||||||||||||||||||||||||||||||
LA Station 2(c) | 10 | 100 | % | 1950 | — | Gas | Reserve | — | 1,085 | ||||||||||||||||||||||||||||||||||||||
11 | 100 | % | 1950 | — | Gas | Reserve | |||||||||||||||||||||||||||||||||||||||||
12 | 100 | % | 1953 | — | Gas | Reserve | |||||||||||||||||||||||||||||||||||||||||
Roy S. Nelson | 4 | 100 | % | 1970 | — | Gas/Oil | Reserve | 0 | 0 | 0 | Combus Mod/Fuel Reburn | — | — | ||||||||||||||||||||||||||||||||||
Calcasieu | 1 | 100 | % | 2000 | 143 | Gas | Peaking | 11,046 | — | 43 | 52,494 | Dry LNB | 74,900 | 118.5 | 18,682 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2001 | 157 | Gas | Peaking | — | 39 | 56,527 | Dry LNB | 82,819 | ||||||||||||||||||||||||||||||||||||
Ouachita | 3 | 100 | % | 2002 | 249 | Gas | Intermediate | 7,244 | 3 | 75 | 616,121 | Dry LNB, SCR | 1,349,758 | 54.3 | 73,294 | ||||||||||||||||||||||||||||||||
Roy S. Nelson | 6 | 40 | % | 1982 | 208 | Coal | Base | 11,100 | 2,499 | 943 | 1,066,882 | 6 | LNB w/ Sep OFA, ESP, ACI | 824,892 | 38.7 | 31,897 | |||||||||||||||||||||||||||||||
Big Cajun 2 | 3 | 24 | % | 1983 | 130 | Coal | Base | 10,928 | 2,001 | 454 | 756,113 | 5 | LNB w/ OFA, ESP, ACI | 668,141 | 49.6 | 33,126 |
River Bend | 1 | 100 | % | 1986 | 964 | Nuclear BWR(d) | Base | N/A | 8,305,719 | 27.4 | 227,608 | ||||||||||||||||||||||||||||||||||||
Washington Parish | 1 | 100 | % | 2020 | 184 | Gas | Peaking | 1 | 23 | 102,273 | LNB | 373,158 | 36,398 | ||||||||||||||||||||||||||||||||||
2 | 100 | % | 2020 | 186 | Gas | Peaking | 1 | 21 | 104,946 | LNB | |||||||||||||||||||||||||||||||||||||
Waterford | 3 | 100 | % | 1985 | 1,165 | Nuclear PWR(d) | Base | N/A | 0 | 0 | 0 | 7,799,062 | 30.5 | 237,849 | |||||||||||||||||||||||||||||||||
Union Power Station | 3 | 100 | % | 2003 | 507 | Gas | Intermediate | 7,213 | 7 | 140 | 1,348,235 | Dry LNB, SCR | 3,094,118 | 48.2 | 316,518 | ||||||||||||||||||||||||||||||||
4 | 100 | % | 2003 | 503 | Gas | Intermediate | 8 | 147 | 1,491,836 | Dry LNB, SCR | 3,471,676 | ||||||||||||||||||||||||||||||||||||
Total | 10,829 | 4,586 | 9,881 | 17,959,989 | 11 | 52,594,846 | 49.6 | 2,608,375 | |||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. | |||||||||||||||||||||||||||||||||||||||||||||||
(b) Installed NOx, particulate matter and mercury emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/Fuel Reburning (Combus Mod/Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator | |||||||||||||||||||||||||||||||||||||||||||||||
(ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) | |||||||||||||||||||||||||||||||||||||||||||||||
or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2 or CO2 control equipment operating on any unit. | |||||||||||||||||||||||||||||||||||||||||||||||
(c) Entergy Louisiana also owns and operates LA Station 1 units 1a, 2a, 3a and 4a; these units are under a long-term contract with an external 3rd party, which owns all of the output of these units. | |||||||||||||||||||||||||||||||||||||||||||||||
(d) Boiling Water Reactor; Pressurized Water Reactor. |
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||
2022 | 2021 | 2020 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 651,455 | 578,258 | 523,379 | ||||||||
Commercial | 508,996 | 439,950 | 395,875 | ||||||||
Industrial | 182,270 | 150,698 | 145,100 | ||||||||
Governmental | 52,861 | 46,248 | 41,955 | ||||||||
Total Retail | 1,395,582 | 1,215,154 | 1,106,309 | ||||||||
Sales for Resale | 167,867 | 124,632 | 77,530 | ||||||||
Other | 60,808 | 66,560 | 64,015 | ||||||||
Total Electric Operating Revenues | 1,624,257 | 1,406,346 | 1,247,854 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas and Oil | 10,855 | 10,760 | 12,761 | ||||||||
Coal | 1,118 | 1,021 | 723 | ||||||||
Nuclear | — | — | — | ||||||||
Hydro | — | — | — | ||||||||
Solar | 105 | 1 | 2 | ||||||||
Total Net Generation | 12,078 | 11,782 | 13,486 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 3,092 | 4,232 | 2,336 | ||||||||
Non-affiliated Companies | 1,578 | 1,694 | 1,650 | ||||||||
Total Purchased Power | 4,670 | 5,925 | 3,987 | ||||||||
Total Sources of Energy | 16,748 | 17,707 | 17,473 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 5,679 | 5,568 | 5,378 | ||||||||
Commercial | 4,586 | 4,469 | 4,283 | ||||||||
Industrial | 2,359 | 2,298 | 2,343 | ||||||||
Governmental | 414 | 409 | 398 | ||||||||
Total Retail | 13,038 | 12,744 | 12,402 | ||||||||
Sales for Resale | 3,017 | 4,364 | 4,316 | ||||||||
Unbilled Energy | — | (102) | 58 | ||||||||
Total Electric Energy Sales | 16,055 | 17,006 | 16,776 | ||||||||
Line Losses and Company Usage | 693 | 701 | 696 | ||||||||
Total Uses of Energy | 16,748 | 17,707 | 17,472 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 11.47 | 10.39 | 9.73 | ||||||||
Commercial | 11.10 | 9.84 | 9.24 | ||||||||
Industrial | 7.73 | 6.56 | 6.19 | ||||||||
Governmental | 12.77 | 11.31 | 10.54 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2022) | |||||||||||
Residential | 383,955 | 382,550 | 381,617 | ||||||||
Commercial | 67,043 | 68,115 | 65,131 | ||||||||
Industrial | 4,201 | 4,398 | 3,827 | ||||||||
Governmental | 5,163 | 5,219 | 5,146 | ||||||||
Total | 460,362 | 460,282 | 455,721 |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY MISSISSIPPI, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL PLANT – 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
OWNED AND | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | FUEL | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | |||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | TYPE | PURPOSE | GENERATION | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY(b) | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Attala | 1 | 100 | % | 2001 | 456 | Gas | Intermediate | 7,096 | 7 | 131 | 1,414,334 | Dry LNB, SCR | 3,343,677 | 47.8 | 159,974 | ||||||||||||||||||||||||||||||||
Hinds | 1 | 100 | % | 2001 | 455 | Gas | Intermediate | 7,169 | 6 | 104 | 1,254,674 | Dry LNB, SCR | 3,035,401 | 48 | 147,394 | ||||||||||||||||||||||||||||||||
2 | 100 | % | 2019 | 27 | Gas | Peaking | — | 8 | 20,991 | 32,649 | |||||||||||||||||||||||||||||||||||||
Baxter Wilson | 1 | 100 | % | 1967 | — | Gas/Oil | Intermediate | 11,166 | 1 | 342 | 202,458 | 297,832 | 86.1 | 25,631 | |||||||||||||||||||||||||||||||||
Choctaw | 1 | 100 | % | 2003 | 799 | Gas | Intermediate | 7,055 | 7 | 119 | 1,459,224 | Dry LNB, SCR | 3,409,386 | 57.9 | 197,378 | ||||||||||||||||||||||||||||||||
Gerald Andrus | 1 | 100 | % | 1975 | 707 | Gas/Oil | Intermediate | 11,275 | 3 | 1,147 | 523,073 | OFA | 738,105 | 98.1 | 72,416 | ||||||||||||||||||||||||||||||||
Independence | 1 | 25 | % | 1983 | 205 | Coal | Base | 10,904 | 1,974 | 744 | 902,409 | 5 | LNB w/Sep OFA, ESP, ACI | 745,368 | 39.3 | 43,993 | |||||||||||||||||||||||||||||||
2 | 25 | % | 1984 | 105 | Coal | Base | 1,122 | 338 | 511,419 | 3 | LNB w/Sep OFA, ESP, ACI | 373,877 | |||||||||||||||||||||||||||||||||||
DeSoto Solar | 1 | 100 | % | 2015 | 0.5 | Solar | Non-dispatchable | 553 | 18.9 | 10 | |||||||||||||||||||||||||||||||||||||
Brookhaven Solar | 1 | 100 | % | 2015 | 0.5 | Solar | Non-dispatchable | 462 | 255.6 | 118 | |||||||||||||||||||||||||||||||||||||
Hinds Solar | 1 | 100 | % | 2015 | 0.5 | Solar | Non-dispatchable | 584 | 9.9 | 6 | |||||||||||||||||||||||||||||||||||||
Sunflower Solar | 1 | 100 | % | 2022 | 100 | Solar | Non-dispatchable | 103,191 | 4.8 | 490 | |||||||||||||||||||||||||||||||||||||
Power Through program (back-up generators) | 100 | % | 2022 | 1.2 | Gas | Peaking | 294 | 143 | 605.3 | 87 | |||||||||||||||||||||||||||||||||||||
Total | 2,857 | 3,121 | 2,933 | 6,288,876 | 8 | 12,081,228 | 53.6 | 647,412 | |||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. | |||||||||||||||||||||||||||||||||||||||||||||||
(b) Installed NOx, particulate matter and mercury emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/Fuel Reburning (Combus Mod/Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), | |||||||||||||||||||||||||||||||||||||||||||||||
Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) | |||||||||||||||||||||||||||||||||||||||||||||||
or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2 or CO2 control equipment operating on any unit. |
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY NEW ORLEANS, LLC | |||||||||||
2022 | 2021 | 2020 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 335,473 | 269,893 | 243,502 | ||||||||
Commercial | 256,963 | 208,104 | 179,406 | ||||||||
Industrial | 36,970 | 30,751 | 24,248 | ||||||||
Governmental | 87,514 | 71,584 | 59,819 | ||||||||
Total Retail | 716,920 | 580,331 | 506,975 | ||||||||
Sales for Resale | 120,851 | 88,349 | 33,213 | ||||||||
Other | 17,729 | 3,553 | 20,444 | ||||||||
Total Electric Operating Revenues | 855,499 | 672,233 | 560,632 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas and Oil | 3,475 | 2,530 | 3,060 | ||||||||
Coal | — | — | — | ||||||||
Nuclear | — | — | — | ||||||||
Hydro | — | — | — | ||||||||
Solar | 42 | 35 | 4 | ||||||||
Total Net Generation | 3,517 | 2,565 | 3,064 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 4,076 | 4,565 | 3,801 | ||||||||
Non-affiliated Companies | 546 | 713 | 671 | ||||||||
Total Purchased Power | 4,622 | 5,278 | 4,471 | ||||||||
Total Sources of Energy | 8,139 | 7,843 | 7,535 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 2,410 | 2,258 | 2,294 | ||||||||
Commercial | 2,096 | 1,978 | 1,975 | ||||||||
Industrial | 411 | 415 | 423 | ||||||||
Governmental | 789 | 757 | 755 | ||||||||
Total Retail | 5,706 | 5,407 | 5,447 | ||||||||
Sales for Resale | 2,298 | 2,369 | 1,969 | ||||||||
Unbilled Energy | (61) | (9) | |||||||||
Total Electric Energy Sales | 8,004 | 7,715 | 7,407 | ||||||||
Line Losses and Company Usage | 135 | 128 | 127 | ||||||||
Total Uses of Energy | 8,139 | 7,843 | 7,535 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 13.92 | 11.95 | 10.61 | ||||||||
Commercial | 12.26 | 10.52 | 9.08 | ||||||||
Industrial | 9.00 | 7.42 | 5.74 | ||||||||
Governmental | 11.09 | 9.46 | 7.93 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2022) | |||||||||||
Residential | 188,016 | 188,222 | 186,299 | ||||||||
Commercial | 18,784 | 17,306 | 17,179 | ||||||||
Industrial | 1,765 | 1,701 | 1,707 | ||||||||
Governmental | 1,943 | 1,930 | 1,940 | ||||||||
Total | 210,508 | 209,159 | 207,125 |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY NEW ORLEANS, LLC | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL PLANT – 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
OWNED AND | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | ||||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | FUEL TYPE | PURPOSE | GENERATION | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY(b) | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Union Power Station | 1 | 100 | % | 2003 | 506 | Gas | Intermediate | 7,282 | 5 | 107 | 1,339,428 | Dry LNB, SCR | 3,110,281 | 51.1 | 158,924 | ||||||||||||||||||||||||||||||||
New Orleans Solar Power Plant (+Battery) | 1 | 100 | % | 2016 | 1 (0.5(c)) | Solar | Non-dispatchable | 184 | 254.4 | 47 | |||||||||||||||||||||||||||||||||||||
New Orleans Power Station | 1 | 100 | % | 2020 | 130 | Gas | Intermediate | 8,477 | — | 15 | 199,204 | 365,210 | 81.2 | 29,661 | |||||||||||||||||||||||||||||||||
New Orleans Solar Station | 1 | 100 | % | 2020 | 20 | Solar | Non-dispatchable | 37,168 | 14.5 | 540 | |||||||||||||||||||||||||||||||||||||
New Orleans Residential Rooftop Solar | 1 | 100 | % | 2020 | 0.5 | Solar | Non-dispatchable | ||||||||||||||||||||||||||||||||||||||||
New Orleans Commercial Rooftop Solar | 1 | 100 | % | 2020 | 5 | Solar | Non-dispatchable | 4,965 | 15.1 | 75 | |||||||||||||||||||||||||||||||||||||
Total | 663 | 6 | 123 | 1,538,632 | 3,517,807 | 53.8 | 189,247 | ||||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. | |||||||||||||||||||||||||||||||||||||||||||||||
(b) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/Fuel Reburning (Combus Mod/Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), | |||||||||||||||||||||||||||||||||||||||||||||||
Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) | |||||||||||||||||||||||||||||||||||||||||||||||
or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2or CO2 control equipment operating on any unit. | |||||||||||||||||||||||||||||||||||||||||||||||
(c) MW amount equals the capacity rating of the battery. |
SYSTEM ENERGY RESOURCES, INC. | ||||||||||||||
2022 | 2021 | 2020 | ||||||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | 658,812 | 570,848 | 495,458 | |||||||||||
SOURCES OF ENERGY (GWh) | ||||||||||||||
Net Generation: | ||||||||||||||
Gas and Oil | ||||||||||||||
Coal | ||||||||||||||
Nuclear | 7,739 | 10,593 | 5,820 | |||||||||||
Hydro | ||||||||||||||
Total Net Generation | 7,739 | 10,593 | 5,820 | |||||||||||
Purchased Power | ||||||||||||||
Total Sources of Energy | 7,739 | 10,593 | 5,820 | |||||||||||
USES OF ENERGY (GWh) | ||||||||||||||
Electric Energy Sales | 7,739 | 10,593 | 5,849 | |||||||||||
Unbilled Energy | ||||||||||||||
Line Losses and Company Usage | (29) | |||||||||||||
Total Uses of Energy | 7,739 | 10,593 | 5,820 |
SYSTEM ENERGY RESOURCES, INC. | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL PLANT – 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
OWNED AND | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | ||||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | FUEL TYPE | PURPOSE | GENERATION | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Grand Gulf | 1 | 90% | 1985 | 1,260 | Nuclear BWR(b) | Base | N/A | 7,739,058 | 31.3 | 242,304 | |||||||||||||||||||||||||||||||||||||
Total | 1,260 | 7,739,058 | 31.3 | 242,304 | |||||||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. | |||||||||||||||||||||||||||||||||||||||||||||||
(b) Boiling Water Reactor. |
UTILITY STATISTICAL INFORMATION | |||||||||||
ENTERGY TEXAS, INC. | |||||||||||
2022 | 2021 | 2020 | |||||||||
ELECTRIC OPERATING REVENUES ($ thousands) | |||||||||||
Residential | 930,842 | 766,312 | 672,087 | ||||||||
Commercial | 516,539 | 425,927 | 364,638 | ||||||||
Industrial | 661,693 | 492,949 | 385,681 | ||||||||
Governmental | 31,134 | 26,238 | 23,445 | ||||||||
Total Retail | 2,140,208 | 1,711,426 | 1,445,851 | ||||||||
Sales for Resale | 66,782 | 145,719 | 100,273 | ||||||||
Other | 81,914 | 45,366 | 41,121 | ||||||||
Total Electric Operating Revenues | 2,288,904 | 1,902,511 | 1,587,245 | ||||||||
SOURCES OF ENERGY (GWh) | |||||||||||
Net Generation: | |||||||||||
Gas and Oil | 10,760 | 9,627 | 7,027 | ||||||||
Coal | 1,104 | 796 | 311 | ||||||||
Nuclear | — | — | — | ||||||||
Hydro | — | — | — | ||||||||
Total Net Generation | 11,864 | 10,423 | 7,338 | ||||||||
Purchased Power: | |||||||||||
Affiliated Companies | 3,340 | 2,945 | 3,404 | ||||||||
Non-affiliated Companies | 7,836 | 9,426 | 10,977 | ||||||||
Total Purchased Power | 11,176 | 12,371 | 14,381 | ||||||||
Total Sources of Energy | 23,040 | 22,794 | 21,719 | ||||||||
USES OF ENERGY (GWh) | |||||||||||
Electric Energy Sales: | |||||||||||
Residential | 6,779 | 6,201 | 6,146 | ||||||||
Commercial | 4,758 | 4,494 | 4,386 | ||||||||
Industrial | 9,572 | 8,729 | 7,885 | ||||||||
Governmental | 271 | 256 | 260 | ||||||||
Total Retail | 21,380 | 19,680 | 18,677 | ||||||||
Sales for Resale | 1,092 | 2,372 | 2,013 | ||||||||
Unbilled Energy | — | (44) | 93 | ||||||||
Total Electric Energy Sales | 22,472 | 22,008 | 20,783 | ||||||||
Line Losses and Company Usage | 568 | 786 | 937 | ||||||||
Total Uses of Energy | 23,040 | 22,794 | 21,720 | ||||||||
AVERAGE ELECTRIC REVENUE (cents/KWh) | |||||||||||
Residential | 13.73 | 12.36 | 10.94 | ||||||||
Commercial | 10.86 | 9.48 | 8.31 | ||||||||
Industrial | 6.91 | 5.65 | 4.89 | ||||||||
Governmental | 11.49 | 10.25 | 9.02 | ||||||||
NUMBER OF RETAIL ELECTRIC CUSTOMERS | |||||||||||
(as of December 31, 2022) | |||||||||||
Residential | 438,933 | 424,701 | 414,438 | ||||||||
Commercial | 52,305 | 52,360 | 50,582 | ||||||||
Industrial | 6,179 | 6,445 | 5,681 | ||||||||
Governmental | 2,060 | 2,120 | 2,025 | ||||||||
Total | 499,477 | 485,626 | 472,726 |
UTILITY STATISTICAL INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||
ENTERGY TEXAS, INC. | |||||||||||||||||||||||||||||||||||||||||||||||
GENERATION PORTFOLIO | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL PLANT – 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
OWNED AND | AVG BTU | TOTAL | |||||||||||||||||||||||||||||||||||||||||||||
LEASED | PER KWH | Emissions | NET | EXPENSES | PRODUCTION | ||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL | CAPABILITY | NET | SO2 | NOx | CO2 | Hg | GENERATION | PER NET | EXPENSE | ||||||||||||||||||||||||||||||||||||||
PLANT | UNIT | OWNERSHIP | OPERATION | (MW)(a) | FUEL TYPE | PURPOSE | GENERATION | (tons) | (tons) | (tons) | (lbs) | TECHNOLOGY(b) | (MWH) | MWH | ($ thousands) | ||||||||||||||||||||||||||||||||
Roy S. Nelson | 6 | 30% | 1982 | 154 | Coal | Base | 11,100 | 1,847 | 697 | 788,565 | 5 | LNB w/ Sep OFA, ESP, ACI | 609,700 | 38.7 | 23,612 | ||||||||||||||||||||||||||||||||
Big Cajun 2 | 3 | 18% | 1983 | 96 | Coal | Base | 10,932 | 1,479 | 336 | 558,866 | 4 | LNB w/ OFA, ESP, ACI | 493,846 | 49.6 | 24,483 | ||||||||||||||||||||||||||||||||
Lewis Creek | 1 | 100% | 1970 | 250 | Gas/Oil | Intermediate | 11,646 | 3 | 115 | 502,771 | SCR | 1,827,846 | 79.0 | 144,312 | |||||||||||||||||||||||||||||||||
2 | 100% | 1971 | 250 | Gas/Oil | Intermediate | 3 | 156 | 663,713 | SCR | ||||||||||||||||||||||||||||||||||||||
Sabine | 1 | 100% | 1962 | 202 | Gas/Oil | Intermediate | 11,110 | 1 | 217 | 176,932 | 2,831,261 | 83.4 | 236,044 | ||||||||||||||||||||||||||||||||||
3 | 100% | 1966 | 370 | Gas/Oil | Intermediate | 3 | 443 | 629,547 | LNB w/ Sep OFA | ||||||||||||||||||||||||||||||||||||||
4 | 100% | 1974 | 489 | Gas | Intermediate | 2 | 879 | 425,595 | IFGR | ||||||||||||||||||||||||||||||||||||||
5 | 100% | 1979 | 400 | Gas/Oil | Intermediate | 3 | 495 | 642,375 | LNB w/ Closed-coupled OFA | ||||||||||||||||||||||||||||||||||||||
Hardin County | 1 | 100% | 2010 | 72 | Gas | Peaking | 12,225 | — | 14 | 46,039 | Dry LNB | 121,172 | 112.6 | 13,640 | |||||||||||||||||||||||||||||||||
2 | 100% | 2010 | 71 | Gas | Peaking | — | 13 | 43,467 | Dry LNB | ||||||||||||||||||||||||||||||||||||||
Montgomery County | 92% | 2021 | 835 | Gas | Intermediate | 6,879 | 12 | 130 | 2,454,323 | Dry LNB, SCR, O2 Catalyst | 5,980,144 | 47.2 | 282,013 | ||||||||||||||||||||||||||||||||||
Power Through program (back-up generators) | 100% | 2019-2022 | 2 | Gas | Peaking | 519 | 633 | 76.2 | 48 | ||||||||||||||||||||||||||||||||||||||
Total | 3,190 | 3,355 | 3,497 | 6,932,713 | 8 | 11,864,602 | 61.0 | 724,153 | |||||||||||||||||||||||||||||||||||||||
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. | |||||||||||||||||||||||||||||||||||||||||||||||
(b) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Combustion Modification/Fuel Reburning (Combus Mod/Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), | |||||||||||||||||||||||||||||||||||||||||||||||
Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) | |||||||||||||||||||||||||||||||||||||||||||||||
or Steam Injection and Activated Carbon Injection (ACI). Currently have no SO2or CO2 control equipment operating on any unit. |
UTILITY STATISTICAL INFORMATION | |||||||||||
UTILITY NUCLEAR PLANT STATISTICS | |||||||||||
The following table shows plant performance for 2020 – 2022 based on 18/24 month operating cycle. | |||||||||||
CAPABILITY FACTOR (%) | 2022 | 2021 | 2020 | ||||||||
ANO | 89.6 | 85.5 | 88.7 | ||||||||
Grand Gulf | 77.9 | 95.0 | 71.9 | ||||||||
River Bend | 92.4 | 89.1 | 84.7 | ||||||||
Waterford 3 | 86.6 | 98.7 | 90.2 | ||||||||
Average | 87.2 | 90.7 | 84.8 | ||||||||
Industry Average | 91.9 | 92.0 | 93.5 |
The following table shows plant performance for 2022 and average for one three-year period. | ||||||||
PRODUCTION COST ($/MWh) (a) | 2022 | 2019-2021 | ||||||
ANO | 18.9 | 23.7 | ||||||
Grand Gulf | 35.1 | 26.9 | ||||||
River Bend | 25.4 | 29.7 | ||||||
Waterford 3 | 30.4 | 25.0 | ||||||
Average | 25.4 | 25.8 | ||||||
(a) Fuel and other operation and maintenance expenses according to accounting standards | ||||||||
that directly relate to the production of electricity per MWh; excludes special items. |
INDIVIDUAL PLANT INFORMATION | |||||||||||||||||
ANO UNIT 1 | ANO UNIT 2 | GRAND GULF | RIVER BEND | WATERFORD 3 | |||||||||||||
Owner / Lessor | Entergy Arkansas | Entergy Arkansas | System Energy - 90% Cooperative Energy - 10% | Entergy Louisiana | Entergy Louisiana | ||||||||||||
Commercial Operation Date | December 74 | March 80 | July 85 | June 86 | September 85 | ||||||||||||
License Expiration Date | 5/20/2034 | 7/17/2038 | 11/1/2044 | 8/29/2045 | 12/18/2044 | ||||||||||||
Architect/Engineer | Bechtel Power | Bechtel Power | Bechtel Power | Stone & Webster | Ebasco | ||||||||||||
Reactor Manufacturer | Babcox & Wilcox | Combustion Engineering | General Electric | General Electric | Combustion Engineering | ||||||||||||
Reactor Type | PWR | PWR | BWR | BWR | PWR | ||||||||||||
Turbine Generator Manufacturer | Westinghouse | General Electric | Kraftwerk Union | General Electric | Westinghouse | ||||||||||||
Owned and Leased Capability (MW)(a) | 833 | 985 | 1,272 | 967 | 1,165 | ||||||||||||
Refueling Data: | |||||||||||||||||
Last Date | 10/8/2022 – | 9/25/21 – | 2/26/22 – | 2/11/23 – | 4/2/22 – | ||||||||||||
11/14/2022 | 11/29/2021 | 4/19/2022 | 4/20/2023 | 5/17/2022 | |||||||||||||
Number of Days | 37 | 65 | 52 | 68 | 45 | ||||||||||||
Next Scheduled Refueling | Spring 24 | Spring 23 | Spring 24 | Spring 25 | Fall 23 | ||||||||||||
2022 Capability Factor (%) | 92 | 87.1 | 77.9 | 92.4 | 86.6 | ||||||||||||
($ in millions as of December 31, 2022) | |||||||||||||||||
Net Book Value | 2,047(b) | 2,053 | 1,564(c) | 2,673 | |||||||||||||
Decommissioning Trust Fair Values | 1,200(b) | 1,143 | 1,113(c) | 666 | |||||||||||||
Decommissioning Liability | 1,451(b) | 1,042 | 773(c) | 931 | |||||||||||||
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) | |||||||||||||||||
that each station was designed to utilize. | |||||||||||||||||
(b) ANO Units 1 and 2 are reported together. | |||||||||||||||||
(c) 30% of River Bend is not subject to rate regulation and is included in non-utility property on the balance sheet. |
UTILITY REGULATORY INFORMATION | |||||||||||||||||
STATE REGULATORY COMMISSIONS | |||||||||||||||||
ARKANSAS | LOUISIANA | MISSISSIPPI | NEW ORLEANS | TEXAS | |||||||||||||
Commission | Arkansas Public | Louisiana | Mississippi | New Orleans | Public Utility | ||||||||||||
Service | Public Service | Public Service | City Council | Commission | |||||||||||||
Commission | Commission | Commission | of Texas | ||||||||||||||
Number of Commissioners | 3 | 5 | 3 | 7 | 5 | ||||||||||||
Method of Selection | Appointed by | Elected | Elected | Elected | Appointed by | ||||||||||||
Governor | Governor | ||||||||||||||||
Term of Office | 6 years – | 6 years – | 4 years – | 4 years – | 6 years – | ||||||||||||
staggered | staggered | concurrent | concurrent | staggered | |||||||||||||
(2 term limit) | |||||||||||||||||
Chair/President | Appointed by | Selected by | Rotates every | Rotates annually | Appointed by | ||||||||||||
Governor | peers – 1 year | 1 - 2 years, as | from the | Governor | |||||||||||||
term | determined by members | at-large positions |
COMMISSION/COUNCIL MEMBERS | |||||||||||||||||
CURRENT | |||||||||||||||||
PARTY | SERVICE BEGAN | TERM ENDS | |||||||||||||||
ARKANSAS | |||||||||||||||||
Doyle Webb – Chairperson | Republican | 1/23 | 1/29 | ||||||||||||||
Katie Anderson | Republican | 9/22 | 1/27 | ||||||||||||||
Justin Tate | Republican | 1/19 | 1/25 | ||||||||||||||
LOUISIANA | |||||||||||||||||
Foster L. Campbell, Jr. – Chairperson | Democrat | 1/3 | 12/26 | ||||||||||||||
Mike Francis – Vice-Chairperson | Republican | 11/16 | 12/28 | ||||||||||||||
Devante Lewis | Democrat | 1/23 | 12/28 | ||||||||||||||
Eric Skrmetta | Republican | 1/9 | 12/26 | ||||||||||||||
Craig Greene | Republican | 6/17 | 12/24 | ||||||||||||||
MISSISSIPPI | |||||||||||||||||
Dane Maxwell – Chairperson | Republican | 1/20 | 12/23 | ||||||||||||||
Brent Bailey | Republican | 1/20 | 12/23 | ||||||||||||||
Brandon Presley | Democrat | 1/8 | 12/23 | ||||||||||||||
NEW ORLEANS | |||||||||||||||||
Jean Paul "JP" Morrell – Chairperson of Utility Committee | Democrat | 1/22 | 1/26 | ||||||||||||||
Helena Moreno | Democrat | 5/18 | 1/26 | ||||||||||||||
Lesli Harris | Democrat | 1/22 | 1/26 | ||||||||||||||
Joseph Giarrusso | Democrat | 5/18 | 1/26 | ||||||||||||||
Freddie King III | Democrat | 1/22 | 1/26 | ||||||||||||||
Eugene J. Green | Democrat | 1/22 | 1/26 | ||||||||||||||
Oliver Thomas | Democrat | 1/22 | 1/26 | ||||||||||||||
TEXAS | |||||||||||||||||
Kathleen Jackson – Interim Chair | Republican | 8/22 | 9/25 | ||||||||||||||
Lori Cobos | Republican | 4/21 | 9/25 | ||||||||||||||
Jimmy Glotfelty | Republican | 8/21 | 9/25 | ||||||||||||||
Will McAdams | Republican | 4/21 | 9/25 | ||||||||||||||
As of July 2023 |
ENTERGY WHOLESALE COMMODITIES | |||||||||||||||||||||||||||||||||||
EWC QUARTERLY FINANCIAL METRICS | |||||||||||||||||||||||||||||||||||
2022 | 2021 | FY | |||||||||||||||||||||||||||||||||
($ millions) | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | CHANGE | ||||||||||||||||||||||||
GAAP MEASURES | |||||||||||||||||||||||||||||||||||
As-Reported Earnings | 7 | 87 | (19) | (12) | 63 | 38 | (275) | 26 | 90 | (121) | 186 | ||||||||||||||||||||||||
NON-GAAP MEASURES | |||||||||||||||||||||||||||||||||||
Adjusted EBITDA | 51 | 156 | — | (3) | 204 | 76 | (338) | 57 | 118 | (87) | 291 |
EWC ANNUAL FINANCIAL METRICS | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
GAAP MEASURES | |||||||||||
As-Reported Earnings | 63 | (275) | (63) | ||||||||
NON-GAAP MEASURES | |||||||||||
Adjusted EBITDA | 204 | (338) | 137 |
EWC QUARTERLY OPERATIONAL METRICS | |||||||||||||||||||||||||||||||||||
2022 | 2021 | FY | |||||||||||||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | % CHANGE | |||||||||||||||||||||||||
Owned Capacity (MW) (a) | 1,205 | 394 | 394 | 181 | 181 | 2,246 | 1,205 | 1,205 | 1,205 | 1,205 | (85 | %) | |||||||||||||||||||||||
GWh billed | 2,225 | 1,371 | 577 | 398 | 4,570 | 4,413 | 2,687 | 2,166 | 2,065 | 11,328 | (60 | %) | |||||||||||||||||||||||
EWC Nuclear | |||||||||||||||||||||||||||||||||||
Capacity Factor | 100 | % | 81 | % | — | % | — | % | 93 | % | 99 | % | 94 | % | 97 | % | 100 | % | 97 | % | (4 | %) | |||||||||||||
GWh billed | 1,766 | 975 | — | — | 2,741 | 3,988 | 2,356 | 1,702 | 1,790 | 9,836 | (72 | %) | |||||||||||||||||||||||
Production cost per MWh (b) | $25.47 | $29.61 | $— | $— | $26.93 | $18.46 | $27.51 | $28.91 | $28.76 | $24.31 | 11 | % | |||||||||||||||||||||||
(a) Indian Point 3 (1,041 MW) was shutdown April 30, 2021; Palisades (811 MW) was shutdown May 20, 2022 | |||||||||||||||||||||||||||||||||||
(b) Fuel and other O&M expenses according to accounting standards that directly relate to the production of electricity per MWh (based on net generation) |
EWC ANNUAL OPERATIONAL METRICS | |||||||||||
2022 | 2021 | 2020 | |||||||||
Owned Capacity (MW) (a) | 181 | 1,205 | 2,246 | ||||||||
GWh billed | 4,570 | 11,328 | 20,489 | ||||||||
EWC Nuclear | |||||||||||
Capacity Factor | 93 | % | 97 | % | 93 | % | |||||
GWh billed | 2,741 | 9,836 | 18,863 | ||||||||
Production cost per MWh (b) | $26.93 | $24.31 | $18.58 | ||||||||
(a) Indian Point 2 (1,028 MW) was shutdown April 30, 2020; Indian Point 3 (1,041 MW) was shutdown | |||||||||||
April 30, 2021; Palisades (811MW) was shutdown May 20, 2022 | |||||||||||
(b) Fuel and other O&M expenses according to accounting standards that directly relate to the production of | |||||||||||
electricity per MWh (based on net generation), excluding special items. |
EWC TOTAL CAPACITY | ||||||||
OWNED CAPACITY | ||||||||
As of December 31, 2022 | MW | % | ||||||
Coal | 181 | 100 | ||||||
Total Capacity | 181 | 100 |
ENTERGY WHOLESALE COMMODITIES | |||||
EWC NUCLEAR PLANT STATISTICS | |||||
PALISADES | |||||
NUCLEAR | |||||
PLANT(a) | |||||
Entergy Purchase Date | 4/11/2007 | ||||
Commercial Operation Date | December 71 | ||||
License Expiration Date | 3/24/2031 | ||||
Architect/Engineer | Combustion Engineering | ||||
Reactor Manufacturer | Combustion Engineering | ||||
Reactor Type | PWR | ||||
Turbine Generator Manufacturer | Westinghouse | ||||
Net MWs in Operation (MW) | 811 | ||||
Refueling Data: | |||||
Last Date | 8/31/20 – | ||||
10/21/20 | |||||
Number of Days | 52 | ||||
2022 Capacity Factor | 93 | % | |||
Capacity Zone (ICAP/UCAP) | MISO | ||||
Nearest Market Hub | Indiana | ||||
(a) Palisades was shutdown May 20, 2022 and sold on June 28, 2022. |
EWC NON-NUCLEAR WHOLESALE ASSETS PLANT STATISTICS | ||||||||||||||||||||
as of December 31, 2022 | NERC | COMMERCIAL | OWNERSHIP | NET | TOTAL | FUEL TYPE | ||||||||||||||
PLANT | REGION | OPERATION | INTEREST | MW | MW | TECHNOLOGY | ||||||||||||||
Independence – Unit 2 | SERC | 1983 | 0.14% | 121 | 842 | Coal | ||||||||||||||
Nelson 6 | SERC | 1982 | 0.11% | 60 | 550 | Coal | ||||||||||||||
Total | 181 | 1392 |
2022 EWC NON-NUCLEAR WHOLESALE ASSETS PLANT EMISSIONS | ||||||||||||||||||||
Emissions | ||||||||||||||||||||
PLANT | PURPOSE | SO2 (tons) | NOx (tons) | Co2 (tons) | Hg (lbs) | TECHNOLOGY (a) | ||||||||||||||
Independence – Unit 2 | Base | 645 | 194 | 293,963 | 1 | LNB w/Sep OFA, ESP, ACI | ||||||||||||||
Nelson 6 | Base | 565 | 213 | 241,208 | 1 | LNB w Sep OFA, ESP, ACI | ||||||||||||||
RS Cogen(b) | Base | 4 | 440 | 853,297 | — | Dry LNB/SCR | ||||||||||||||
(a) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plans and operational: Overfire Air (OFA), Electrostatic Precipitator (ESP), Activated Carbon | ||||||||||||||||||||
Injection (ACI), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Dry Low NOx Burners (Dry LNB), and Selective Catalytic Reduction (SCR) or Steam Injection. | ||||||||||||||||||||
Currently have no SO2 or CO2 control equipment operating on any unit. | ||||||||||||||||||||
(b) RS Cogen was sold on 10/31/2022. |
EWC NON-NUCLEAR WHOLESALE ASSETS | |||||||||||||||||||||||
EWC NON-NUCLEAR WHOLESALE ASSETS SECURITIES DETAIL | |||||||||||||||||||||||
DEBT: | |||||||||||||||||||||||
OUTSTANDING AS OF DECEMBER 31, | |||||||||||||||||||||||
ENTERGY’S SHARE | |||||||||||||||||||||||
($ millions) | 2022 | 2021 | MATURITY | RATE | |||||||||||||||||||
RS Cogen Senior Project Debt | |||||||||||||||||||||||
Institutional Portion(a) | $— | $7 | 10/15/2022 | Fixed 8.73% | |||||||||||||||||||
(a) Entergy sold its 50% membership interest in RS Cogen, L.L.C., to a subsidiary of the other 50% equity partner. |
VERMONT YANKEE CREDIT FACILITY | ||||||||||||||||||||
OUTSTANDING AS OF DECEMBER 31, | RATE | 2022 | 2021 | |||||||||||||||||
1.67 | % | $139 | $139 | |||||||||||||||||
SHARES OUTSTANDING | ||||||||||||||||||||
PREFERRED STOCK: | AS OF DECEMBER 31, | AS OF DECEMBER 31, | ||||||||||||||||||
($ millions) | RATE | 2022 | 2021 | 2022 | 2021 | |||||||||||||||
Without Sinking Fund: | ||||||||||||||||||||
Entergy Finance Holding, Inc. | 8.75%(a) | 250,000 | 250,000 | $24 | $24 | |||||||||||||||
Authorized 250,000 shares, $100 par value, cumulative | ||||||||||||||||||||
Total without sinking fund | 250,000 | 250,000 | $24 | $24 | ||||||||||||||||
(a) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. |
DEFINITIONS OF OPERATIONAL MEASURES AND GAAP AND NON-GAAP FINANCIAL MEASURES | |||||
OPERATIONAL MEASURES | |||||
Owned capacity (MW) | Installed capacity owned by EWC | ||||
Production cost per MWh | Fuel and other O&M expenses according to accounting standards that directly relate to the production of | ||||
electricity per MWh (based on net generation) | |||||
Billed electric energy sales (GWh billed) | Total number of GWh billed to customers and financially-settled instruments | ||||
Capability factor | The percentage of the maximum energy generation a plant is capable of supplying to the grid, limited only by factors within | ||||
control of plant management; a high capability factor indicates effective plant programs and practices to minimize unplanned | |||||
energy losses and to optimize planned outages | |||||
Capacity factor | Normalized percentage of the period that the nuclear plants generate power | ||||
Financial measures defined below include measures prepared in accordance with generally accepted accounting principles (GAAP), as well as non-GAAP measures. | |||||
Non-GAAP measures are included in this report in order to provide metrics that remove the effect of less routine financial impacts from commonly used financial metrics. | |||||
FINANCIAL MEASURES – GAAP | |||||
ROE – as-reported | 12-months rolling net income attributable to Entergy Corporation divided by average common equity | ||||
Return on average member's equity – as-reported | 12-months rolling attributable to Entergy Corporation or subsidiary divided by average member's equity | ||||
Common dividend payout – as-reported | Common dividend paid per share divided by earnings per share | ||||
Available revolver capacity | Amount of undrawn capacity remaining on corporate and subsidiary revolvers | ||||
Total debt | Sum of short-term and long-term debt, notes payable and commercial paper, and finance leases on the balance sheet | ||||
Debt of joint ventures – Entergy’s share | Entergy's share of debt issued by business joint ventures at EWC | ||||
Debt to capital | Total debt divided by total capitalization | ||||
Securitization debt | Debt on the balance sheet associated with securitization bonds that is secured by certain future customer collections | ||||
FINANCIAL MEASURES – NON-GAAP | |||||
Adjusted earnings | As-reported net income attributable to Entergy Corporation or subsidiary excluding adjustments | ||||
Adjusted EBITDA | Earnings before interest, income taxes, depreciation and amortization, excluding interest and investment income and decommissioning expense for EWC | ||||
Adjusted EPS | As-reported net income attributable to Entergy Corporation or subsidiary excluding adjustments, divided by the diluted average | ||||
number of common shares outstanding | |||||
ROE – adjusted | 12-months rolling adjusted net income attributable to Entergy Corp. divided by avgerage common equity | ||||
Adjustments | Unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business | ||||
of Entergy, such as the results of the EWC segment, significant tax items, and other items such as certain costs, expenses, | |||||
or other specified items. In 2022, the results of the EWC segment were considered an adjustment in light of the company's exit | |||||
from the merchand nuclear power business. | |||||
Common dividend payout – adjusted | Common dividend paid per share divided by adjusted earnings per share | ||||
Return on average common equity (ROE) – adjusted | 12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary divided by average common equity | ||||
Return on average member's equity – adjusted | 12-months rolling adjusted net income attributable to Entergy Corporation or subsidiary divided by average member's equity | ||||
Gross liquidity | Sum of cash and available revolver capacity | ||||
Total debt, excluding securitization debt | Total debt, excluding securitization debt | ||||
Debt to capital, excluding securitization debt | Total debt divided by total capitalization, excluding securitization debt | ||||
Net debt to net capital, excluding securitization debt | Total debt less cash and cash equivalents divided by total capitalization less cash and cash equivalents, | ||||
excluding securitization debt | |||||
Net liquidity | Sum of cash and available revolver capacity less commercial paper borrowing | ||||
Net liquidity, including storm escrows | Sum of cash, available revolver capacity, and escrow accounts available for certain storm expenses, less commercial paper borrowing | ||||
Parent debt to total debt, excluding securitization debt | Entergy Corporation debt, including amounts drawn on credit revolver and commercial paper facilities, as a | ||||
percent of consolidated total debt, excluding securitization debt |
FFO | OCF less AFUDC-borrowed funds, working capital items in OCF (receivables, fuel inventory, accounts payable, taxes accrued, | ||||
interest accrued, and other working capital accounts), and securitization regulatory charges | |||||
FFO to debt, excluding securitization debt | 12-months rolling FFO as a percentage of end of period total debt excluding securitization debt | ||||
FFO to debt, excluding securitization debt, return of unprotected | 12-months rolling FFO excluding return of unprotected excess ADIT and severance and retention payments | ||||
excess ADIT, and severance and retention payments associated | associated with exit of EWC as a percentage of end of period total debt excluding securitization debt | ||||
with exit of EWC |
REG G RECONCILIATIONS | |||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
As-reported net income (loss) attributable to Entergy Corporation (A) | 1,103 | 1,118 | 1,388 | ||||||||
Adjustments (B) | (217) | (97) | 250 | ||||||||
Adjusted earnings, (non-GAAP) (A-B) | 1,320 | 1,215 | 1,138 | ||||||||
Average common equity (C) | 12,302 | 11,282 | 10,575 | ||||||||
($ per share) | |||||||||||
As-reported earnings per share (D) | 5.37 | 5.54 | 6.90 | ||||||||
Adjusted earnings per share (E) | 6.42 | 6.02 | 5.66 | ||||||||
Common dividend paid per share (F) | 4.10 | 3.86 | 3.74 | ||||||||
(%) | |||||||||||
ROE – As-reported (A/C) | 9.0 | 9.9 | 13.1 | ||||||||
ROE – Adjusted (non-GAAP) ((A-B)/C) | 10.7 | 10.8 | 10.8 | ||||||||
Common dividend payout – As-reported % (F/D) | 76 | 70 | 54 | ||||||||
Common dividend payout – Adjusted % (F/E) | 64 | 64 | 66 |
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q21-4Q22 | ||||||||||||||||||||||||||
($ millions) | 1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q21 | 2Q21 | 3Q21 | 4Q21 | ||||||||||||||||||
As-reported net income (loss) attributable to Entergy Corporation, rolling 12 months (A) | 1,060 | 1,226 | 1,256 | 1,103 | 1,604 | 1,238 | 1,248 | 1,118 | ||||||||||||||||||
Adjustments, rolling 12 months (B) | (127) | (56) | (112) | (217) | 399 | 32 | 45 | (97) | ||||||||||||||||||
Adjusted earnings, rolling 12 months (non-GAAP) (A-B) | 1,187 | 1,282 | 1,368 | 1,320 | 1,205 | 1,206 | 1,202 | 1,215 | ||||||||||||||||||
Average common equity (C) | 11,364 | 11,300 | 11,674 | 12,302 | 10,621 | 10,657 | 11,012 | 11,282 | ||||||||||||||||||
(%) | ||||||||||||||||||||||||||
ROE – As-reported (A/C) | 9.3 | 10.8 | 10.8 | 9.0 | 15.1 | 11.6 | 11.3 | 9.9 | ||||||||||||||||||
ROE – Adjusted (non-GAAP) ((A-B)/C) | 10.4 | 11.3 | 11.7 | 10.7 | 11.3 | 11.3 | 10.9 | 10.8 |
REG G RECONCILIATIONS | |||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
Total debt (A) | 26,829 | 27,154 | 24,062 | ||||||||
Less securitization debt (B) | 293 | 84 | 175 | ||||||||
Total debt, excluding securitization debt (A-B) | 26,536 | 27,071 | 23,887 | ||||||||
Less cash and cash equivalents (C) | 224 | 443 | 1,759 | ||||||||
Net debt, excluding securitization debt (A-B-C) | 26,312 | 26,628 | 22,128 | ||||||||
Total capitalization (D) | 40,113 | 39,079 | 35,243 | ||||||||
Less securitization debt (E) | 293 | 84 | 175 | ||||||||
Total capitalization, excluding securitization debt (D-E) | 39,820 | 38,995 | 35,068 | ||||||||
Less cash and cash equivalents (F) | 224 | 443 | 1,759 | ||||||||
Net capitalization, excluding securitization debt (D-E-F) | 39,596 | 38,553 | 33,309 | ||||||||
(%) | |||||||||||
Debt to capital (A/D) | 66.9 | 69.5 | 68.3 | ||||||||
Debt to capital, excluding securitization debt ((A-B)/D-E)) | 66.6 | 69.4 | 68.1 | ||||||||
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F)) | 66.5 | 69.1 | 66.4 | ||||||||
Available revolver capacity (G) | 4,241 | 3,985 | 4,110 | ||||||||
Storm escrows (L) | 402 | 33 | 116 | ||||||||
Gross liquidity (C+G) | 4,465 | 4,428 | 5,869 | ||||||||
Net liquidity (C+G-J) | 3,638 | 3,227 | 4,241 | ||||||||
Net liquidity, including storm escrows (C+G-J+L) | 4,040 | 3,260 | 4,357 | ||||||||
Entergy Corporation notes: | |||||||||||
Due July 2022 | — | 650 | 650 | ||||||||
Due September 2025 | 800 | 800 | 800 | ||||||||
Due September 2026 | 750 | 750 | 750 | ||||||||
Due June 2028 | 650 | 650 | — | ||||||||
Due June 2030 | 600 | 600 | 600 | ||||||||
Due June 2031 | 650 | 650 | — | ||||||||
Due June 2050 | 600 | 600 | 600 | ||||||||
Total parent long-term debt (H) | 4,050 | 4,700 | 3,400 | ||||||||
Revolver draw (I) | 150 | 165 | 165 | ||||||||
Commercial paper (J) | 828 | 1,201 | 1,627 | ||||||||
Unamortized debt issuance and discounts (K) | (43) | (49) | (38) | ||||||||
Total parent debt (H)+(I)+(J)+(K) | 4,985 | 6,017 | 5,154 | ||||||||
Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B) | 18.8 | 22.2 | 21.6 |
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q21-4Q22 | ||||||||||||||||||||||||||
($ millions) | 1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q21 | 2Q21 | 3Q21 | 4Q21 | ||||||||||||||||||
Total debt (A) | 28,630 | 26,923 | 27,677 | 26,829 | 25,803 | 25,435 | 25,695 | 27,154 | ||||||||||||||||||
Less securitization debt (B) | 55 | 336 | 311 | 293 | 147 | 114 | 90 | 84 | ||||||||||||||||||
Total debt, excluding securitization debt (A-B) | 28,575 | 26,587 | 27,366 | 26,536 | 25,656 | 25,321 | 25,605 | 27,071 | ||||||||||||||||||
Less cash and cash equivalents (C) | 702 | 580 | 1,003 | 224 | 1,743 | 687 | 1,000 | 443 | ||||||||||||||||||
Net debt, excluding securitization debt (A-B-C) | 27,874 | 26,007 | 26,362 | 26,312 | 23,914 | 24,634 | 24,605 | 26,628 | ||||||||||||||||||
Total capitalization (D) | 40,626 | 38,961 | 40,091 | 40,113 | 37,075 | 36,577 | 37,202 | 39,079 | ||||||||||||||||||
Less securitization debt (E) | 55 | 336 | 311 | 293 | 147 | 114 | 90 | 84 | ||||||||||||||||||
Total capitalization, excluding securitization debt (D-E) | 40,571 | 38,625 | 39,780 | 39,820 | 36,928 | 36,463 | 37,112 | 38,995 | ||||||||||||||||||
Less cash and cash equivalents (F) | 702 | 580 | 1,003 | 224 | 1,743 | 687 | 1,000 | 443 | ||||||||||||||||||
Net capitalization, excluding securitization debt (D-E-F) | 39,870 | 38,045 | 38,776 | 39,596 | 35,185 | 35,777 | 36,112 | 38,553 | ||||||||||||||||||
(%) | ||||||||||||||||||||||||||
Debt to capital (A/D) | 70.5 | 69.1 | 69.0 | 66.9 | 69.6 | 69.5 | 69.1 | 69.5 | ||||||||||||||||||
Debt to capital, excluding securitization debt ((A-B)/D-E)) | 70.4 | 68.8 | 69.0 | 66.6 | 69.5 | 69.4 | 69.0 | 69.4 | ||||||||||||||||||
Net debt to net capital, excluding securitization debt ((A-B-C)/(D-E-F)) | 69.9 | 68.4 | 68.0 | 66.5 | 68.0 | 68.9 | 68.1 | 69.1 | ||||||||||||||||||
Available revolver capacity (G) | 4,129 | 4,191 | 4,191 | 4,241 | 4,220 | 4,125 | 3,925 | 3,985 | ||||||||||||||||||
Storm escrows (L) | 33 | 323 | 325 | 402 | 72 | 72 | 33 | 33 | ||||||||||||||||||
Gross liquidity (C+G) | 4,830 | 4,771 | 5,195 | 4,465 | 5,963 | 4,812 | 4,925 | 4,428 | ||||||||||||||||||
Net liquidity (C+G-J) | 3,487 | 3,373 | 3,809 | 3,638 | 4,935 | 3,946 | 3,919 | 3,227 | ||||||||||||||||||
Net liquidity, including storm escrows (C+G-J+L) | 3,521 | 3,697 | 4,133 | 4,040 | 5,007 | 4,018 | 3,952 | 3,260 | ||||||||||||||||||
Entergy Corporation notes: | ||||||||||||||||||||||||||
Due July 2022 | 650 | — | — | — | 650 | 650 | 650 | 650 | ||||||||||||||||||
Due September 2025 | 800 | 800 | 800 | 800 | 800 | 800 | 800 | 800 | ||||||||||||||||||
Due September 2026 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | 750 | ||||||||||||||||||
Due June 2028 | 650 | 650 | 650 | 650 | 650 | 650 | 650 | 650 | ||||||||||||||||||
Due June 2030 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | ||||||||||||||||||
Due June 2031 | 650 | 650 | 650 | 650 | 650 | 650 | 650 | 650 | ||||||||||||||||||
Due June 2050 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | ||||||||||||||||||
Total parent long-term debt (H) | 4,700 | 4,050 | 4,050 | 4,050 | 4,700 | 4,700 | 4,700 | 4,700 | ||||||||||||||||||
Revolver draw (I) | 150 | 150 | 150 | 150 | 55 | 150 | 325 | 165 | ||||||||||||||||||
Commercial paper (J) | 1,343 | 1,398 | 1,386 | 828 | 1,028 | 866 | 1,006 | 1,201 | ||||||||||||||||||
Unamortized debt issuance and discounts (K) | (47) | (46) | (44) | (43) | (54) | (52) | (51) | (49) | ||||||||||||||||||
Total parent debt (H)+(I)+(J)+(K) | 6,145 | 5,552 | 5,542 | 4,985 | 5,728 | 5,664 | 5,981 | 6,017 | ||||||||||||||||||
Parent debt to total debt, excluding securitization debt % ((H)+(I)+(J)+(K))/(A-B) | 21.5 | 20.9 | 20.3 | 18.8 | 22.3 | 22.4 | 23.4 | 22.2 |
REG G RECONCILIATIONS | |||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
Total debt (A) | 26,829 | 27,154 | 24,062 | ||||||||
Less securitization debt (B) | 293 | 84 | 175 | ||||||||
Total debt, excluding securitization debt (C) | 26,536 | 27,071 | 23,887 | ||||||||
Net cash flow provided by operating activities, rolling 12 months (D) | 2,585 | 2,301 | 2,690 | ||||||||
Allowance for borrowed funds used during construction, rolling 12 months (E) | (28) | (29) | (52) | ||||||||
Working capital items in net cash flow provided by operating activities, rolling 12 months: | |||||||||||
Receivables | (157) | (85) | (139) | ||||||||
Fuel inventory | 7 | 18 | (27) | ||||||||
Accounts payable | (102) | 270 | 137 | ||||||||
Taxes accrued | 4 | (21) | 208 | ||||||||
Interest accrued | 4 | (11) | 8 | ||||||||
Deferred fuel costs | (394) | (466) | — | ||||||||
Other working capital accounts | (157) | (54) | (143) | ||||||||
Securitization regulatory charges | 62 | 83 | 124 | ||||||||
Total (F) | (733) | (266) | 168 | ||||||||
FFO, rolling 12 months (G) = (D)+(E)-(F) | 3,290 | 2,538 | 2,470 | ||||||||
FFO to debt, excluding securitization debt (G)/(C) | 12.4 | % | 9.4 | % | 10.3 | % | |||||
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H) | 56 | 87 | 70 | ||||||||
Severance and retention payments associated with exit of EWC (rolling 12 months pre-tax) (I) | 40 | 120 | 55 | ||||||||
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC [(G+H+I)/(C)] | 12.8 | % | 10.1 | % | 10.9 | % |
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q21-4Q22 | ||||||||||||||||||||||||||
($ millions) | 1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q21 | 2Q21 | 3Q21 | 4Q21 | ||||||||||||||||||
Total debt (A) | 28,630 | 26,923 | 27,677 | 26,829 | 25,803 | 25,435 | 25,695 | 27,154 | ||||||||||||||||||
Less securitization debt (B) | 55 | 336 | 311 | 293 | 147 | 114 | 90 | 84 | ||||||||||||||||||
Total debt, excluding securitization debt (C) | 28,575 | 26,587 | 27,366 | 26,536 | 25,656 | 25,321 | 25,605 | 27,071 | ||||||||||||||||||
Net cash flow provided by operating activities, rolling 12 months (D) | 2,888 | 2,370 | 2,099 | 2,585 | 1,981 | 1,988 | 2,331 | 2,301 | ||||||||||||||||||
Allowance for borrowed funds used during construction, rolling 12 months (E) | (29) | (27) | (28) | (28) | (43) | (38) | (34) | (29) | ||||||||||||||||||
Working capital items in net cash flow provided by operating activities, rolling 12 months: | ||||||||||||||||||||||||||
Receivables | 91 | (155) | (208) | (157) | (262) | (263) | (183) | (85) | ||||||||||||||||||
Fuel inventory | 6 | 18 | (9) | 7 | 15 | 9 | 20 | 18 | ||||||||||||||||||
Accounts payable | 162 | 444 | (153) | (102) | 90 | 45 | 326 | 270 | ||||||||||||||||||
Taxes accrued | 130 | 48 | 49 | 4 | 21 | 93 | 20 | (21) | ||||||||||||||||||
Interest accrued | 26 | (22) | (2) | 4 | 9 | 3 | 26 | (11) | ||||||||||||||||||
Deferred fuel costs | — | (847) | (931) | (394) | — | (369) | (358) | (466) | ||||||||||||||||||
Other working capital accounts | (105) | (104) | (84) | (157) | (165) | (166) | (124) | (54) | ||||||||||||||||||
Securitization regulatory charges | 71 | 67 | 67 | 62 | 124 | 119 | 98 | 83 | ||||||||||||||||||
Total (F) | 382 | (551) | (1,271) | (733) | (170) | (529) | (175) | (266) | ||||||||||||||||||
FFO, rolling 12 months (G) = (D)+(E)-(F) | 2,477 | 2,894 | 3,342 | 3,290 | 2,109 | 2,479 | 2,472 | 2,538 | ||||||||||||||||||
FFO to debt, excluding securitization debt (G)/(C) | 8.7 | % | 10.9 | % | 12.2 | % | 12.4 | % | 8.2 | % | 9.8 | % | 9.7 | % | 9.4 | % | ||||||||||
Estimated return of unprotected excess ADIT (rolling 12 months pre-tax) (H) | 66 | 62 | 68 | 56 | 80 | 83 | 85 | 87 | ||||||||||||||||||
Severance and retention payments associated with exit of EWC (rolling 12 months pre-tax) (I) | 119 | — | 40 | 40 | 55 | 160 | 158 | 120 | ||||||||||||||||||
FFO to debt, excluding securitization debt, return of unprotected excess ADIT, and severance and retention payments associated with exit of EWC [(G+H+I)/(C)] | 9.3 | % | 11.1 | % | 12.6 | % | 12.8 | % | 8.7 | % | 10.8 | % | 10.6 | % | 10.1 | % |
REG G RECONCILIATIONS | |||||||||||
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
As-reported net income (loss) applicable to common stock/equity (A) | 1,407 | 1,490 | 1,800 | ||||||||
Utility adjustments | |||||||||||
True-up for prior year's portion of the equity component of carrying | |||||||||||
costs for 2020 storms | 41 | — | — | ||||||||
Contribution to the LURC related to securitization | (32) | — | — | ||||||||
Customer-sharing of securitization benefit | (224) | — | — | ||||||||
Litigation settlement regulatory charge | (551) | — | — | ||||||||
Depreciation adjustment | 33 | — | — | ||||||||
Gain on sale | — | 11 | — | ||||||||
Income tax valuation allowance | — | (8) | — | ||||||||
Provision for uncertain tax position | — | (5) | — | ||||||||
State corporate income tax rate change | — | 29 | — | ||||||||
SERI regulatory liability for potential refund for rate base reduction | |||||||||||
retroactive to 2015 | — | — | (25) | ||||||||
Income tax effect on Utility adjustment above | 183 | — | 6 | ||||||||
Tax benefit resulting from securitization | 283 | — | — | ||||||||
Sale-leaseback reg liability / DTA turnaround | (13) | — | — | ||||||||
2014 / 2015 IRS settlement – E-LA business combination | — | — | 396 | ||||||||
Total adjustments (B) | (280) | 27 | 377 | ||||||||
Adjusted earnings (A-B) | 1,686 | 1,463 | 1,423 | ||||||||
Average common stock or member's equity (C) | 18,682 | 16,988 | 15,038 | ||||||||
Gross debt (D) | 21,705 | 20,998 | 18,769 | ||||||||
Less securitization debt (E) | 293 | 84 | 175 | ||||||||
Gross debt, excluding securitization debt (D-E) | 21,412 | 20,915 | 18,594 | ||||||||
Less cash and cash equivalents (F) | 148 | 311 | 1,526 | ||||||||
Net debt, excluding securitization debt (D-E-F) | 21,264 | 20,603 | 17,068 | ||||||||
Total capitalization (G) | 41,582 | 39,049 | 35,192 | ||||||||
Less securitization debt (H) | 293 | 84 | 175 | ||||||||
Total capitalization, excluding securitization debt (G-H) | 41,289 | 38,965 | 35,017 | ||||||||
Less cash and cash equivalents (I) | 148 | 311 | 1,526 | ||||||||
Net capitalization, excluding securitization debt (G-H-I) | 41,141 | 38,654 | 33,491 | ||||||||
(%) | |||||||||||
ROE – As-Reported (A/C) | 7.5 | 8.8 | 12.0 | ||||||||
ROE – Adjusted ((A-B)/C) | 9.0 | 8.6 | 9.5 | ||||||||
Debt to capital (D/G) | 52.2 | 53.8 | 53.3 | ||||||||
Debt to capital, excluding securitization debt ((D-E)/(G-H)) | 51.9 | 53.7 | 53.1 | ||||||||
Net debt to net capital, excluding securitization debt ((D-E-F)/(G-H-I)) | 51.7 | 53.3 | 51.0 |
REG G RECONCILIATIONS | ||||||||||||||||||||||||||
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q21-4Q22 | ||||||||||||||||||||||||||
($ millions) | 1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q21 | 2Q21 | 3Q21 | 4Q21 | ||||||||||||||||||
As-reported net income applicable to common stock/equity (A) | 340 | 153 | 672 | 241 | 357 | 326 | 570 | 238 | ||||||||||||||||||
Less adjustments (B) | — | (291) | — | 12 | — | — | 11 | 16 | ||||||||||||||||||
Adjusted net income (loss) (A-B) | 340 | 444 | 672 | 229 | 357 | 326 | 559 | 222 | ||||||||||||||||||
As-reported net income (loss) applicable to common stock/equity-rolling | ||||||||||||||||||||||||||
12 months (C) | 1,474 | 1,301 | 1,403 | 1,407 | 1,837 | 1,818 | 1,837 | 1,490 | ||||||||||||||||||
Adjustments in prior quarters | 27 | 27 | (275) | (291) | 377 | 377 | 377 | 11 | ||||||||||||||||||
Adjustments in current quarter | — | (291) | — | 12 | — | — | 11 | 16 | ||||||||||||||||||
Total adjustments (D) | 27 | (264) | (275) | (280) | 377 | 377 | 388 | 27 | ||||||||||||||||||
Adjusted earnings, rolling 12 months (C-D) | 1,447 | 1,565 | 1,678 | 1,686 | 1,460 | 1,441 | 1,449 | 1,463 | ||||||||||||||||||
Average common stock or member's equity (E) | 18,038 | 17,981 | 18,419 | 18,682 | 15,465 | 15,758 | 16,250 | 16,988 | ||||||||||||||||||
Gross debt (F) | 22,346 | 21,232 | 21,996 | 21,705 | 19,936 | 19,632 | 19,576 | 20,998 | ||||||||||||||||||
Less securitization debt (G) | 55 | 336 | 311 | 293 | 147 | 114 | 90 | 84 | ||||||||||||||||||
Gross debt, excluding securitization debt (F-G) | 22,291 | 20,896 | 21,685 | 21,412 | 19,789 | 19,518 | 19,486 | 20,915 | ||||||||||||||||||
Less cash and cash equivalents (H) | 474 | 399 | 832 | 148 | 1,050 | 523 | 622 | 311 | ||||||||||||||||||
Net debt, excluding securitization debt (F-G-H) | 21,817 | 20,497 | 20,853 | 21,264 | 18,739 | 18,995 | 18,864 | 20,603 | ||||||||||||||||||
Total capitalization (I) | 42,137 | 40,590 | 41,760 | 41,582 | 36,716 | 36,771 | 37,176 | 39,049 | ||||||||||||||||||
Less securitization debt (J) | 55 | 336 | 311 | 293 | 147 | 114 | 90 | 84 | ||||||||||||||||||
Total capitalization, excluding securitization debt (I-J) | 42,082 | 40,254 | 41,449 | 41,289 | 36,569 | 36,657 | 37,086 | 38,965 | ||||||||||||||||||
Less cash and cash equivalents (K) | 474 | 399 | 832 | 148 | 1,050 | 523 | 622 | 311 | ||||||||||||||||||
Net capitalization, excluding securitization debt (I-J-K) | 41,608 | 39,855 | 40,617 | 41,141 | 35,520 | 36,134 | 36,464 | 38,654 | ||||||||||||||||||
(%) | ||||||||||||||||||||||||||
ROE – As-Reported (C/E) | 8.2 | 7.2 | 7.6 | 7.5 | 11.9 | 11.5 | 11.3 | 8.8 | ||||||||||||||||||
ROE – Adjusted ((C-D)/E) | 8.0 | 8.7 | 9.1 | 9.0 | 9.4 | 9.1 | 8.9 | 8.6 | ||||||||||||||||||
Debt to capital ratio (F/I) | 53.0 | 52.3 | 52.7 | 52.2 | 54.3 | 53.4 | 52.7 | 53.8 | ||||||||||||||||||
Debt to capital, excluding securitization debt ((F-G)/(I-J)) | 53.0 | 51.9 | 52.3 | 51.9 | 54.1 | 53.2 | 52.5 | 53.7 | ||||||||||||||||||
Net debt to net capital, excluding securitization debt ((F-G-H)/(I-J-L)) | 52.4 | 51.4 | 51.3 | 51.7 | 52.8 | 52.6 | 51.7 | 53.3 |
REG G RECONCILIATIONS | |||||||||||
ENTERGY ARKANSAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
As-reported earnings applicable to member's equity (A) | 297 | 317 | 245 | ||||||||
Adjustments | |||||||||||
Income tax valuation allowance | — | (3) | — | ||||||||
2014/2015 IRS audit settlement | — | — | 6 | ||||||||
Total adjustments (B) | — | (3) | 6 | ||||||||
Adjusted earnings (A-B) | 297 | 320 | 239 | ||||||||
Average member's equity (C) | 3,648 | 3,409 | 3,201 | ||||||||
Gross debt (D) | 4,180 | 3,974 | 3,980 | ||||||||
Less cash and cash equivalents (E) | 5 | 13 | 192 | ||||||||
Net debt (D-E) | 4,175 | 3,961 | 3,788 | ||||||||
Total capitalization (F) | 7,962 | 7,550 | 7,256 | ||||||||
Less cash and cash equivalents (G) | 5 | 13 | 192 | ||||||||
Net capitalization (F-G) | 7,957 | 7,537 | 7,064 | ||||||||
(%) | |||||||||||
Return on average member's equity – As-Reported (A/C) | 8.1 | 9.3 | 7.7 | ||||||||
Return on average member's equity – Adjusted ((A-B)/C) | 8.1 | 9.4 | 7.5 | ||||||||
Debt to capital (D/G) | 52.5 | 52.6 | 54.8 | ||||||||
Net debt to net capital ((D-E)/(F-G)) | 52.5 | 52.6 | 53.6 |
REG G RECONCILIATIONS | |||||||||||
ENTERGY LOUISIANA FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
As-reported earnings applicable to member's equity (A) | 855 | 654 | 1,082 | ||||||||
Adjustments | |||||||||||
True-up for prior year's portion of the equity component of carrying | |||||||||||
costs for 2020 storms | 23 | — | — | ||||||||
Contribution to the LURC related to securitization | (32) | — | — | ||||||||
Customer-sharing of securitization benefit | (224) | — | — | ||||||||
Tax benefit resulting from securtiization | 290 | — | — | ||||||||
Gain on sale | — | 15 | — | ||||||||
Income tax effect on Utility adjustment above | 60 | (4) | — | ||||||||
State corporate income tax rate change | — | 6 | — | ||||||||
2014/2015 IRS audit settlement | — | — | 383 | ||||||||
Total Adjustments (B) | 117 | 17 | 383 | ||||||||
Adjusted earnings (A-B) | 737 | 637 | 699 | ||||||||
Average member's equity (C) | 8,821 | 7,819 | 6,927 | ||||||||
Gross debt (D) | 10,717 | 10,933 | 9,044 | ||||||||
Less securitization debt (E) | — | — | 10 | ||||||||
Gross debt, excluding securitization debt (D-E) | 10,717 | 10,933 | 9,034 | ||||||||
Less cash and cash equivalents (F) | 57 | 19 | 728 | ||||||||
Net debt, excluding securitization debt (D-E-F) | 10,660 | 10,914 | 8,306 | ||||||||
Total capitalization (G) | 20,211 | 19,114 | 16,501 | ||||||||
Less securitization debt (H) | — | — | 10 | ||||||||
Total capitalization, excluding securitization debt (G-H) | 20,211 | 19,114 | 16,491 | ||||||||
Less cash and cash equivalents (I) | 57 | 19 | 728 | ||||||||
Net capitalization, excluding securitization debt (G-H-I) | 20,154 | 19,095 | 15,763 | ||||||||
(%) | |||||||||||
Return on average member's equity – As-Reported (A/C) | 9.7 | 8.4 | 15.6 | ||||||||
Return on average member's equity – Adjusted ((A-B)/C) | 8.4 | 8.1 | 10.1 | ||||||||
Debt to capital (D/G) | 53.0 | 57.2 | 54.8 | ||||||||
Debt to capital ratio, excluding securitization debt ((D-E)/(G-H)) | 53.0 | 57.2 | 54.8 | ||||||||
Net debt to net capital, excluding securitization debt ((D-E-F)/(G-H-I)) | 52.9 | 57.2 | 52.7 |
REG G RECONCILIATIONS | |||||||||||
ENTERGY MISSISSIPPI FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
As-reported earnings applicable to member's equity (A) | 198 | 167 | 141 | ||||||||
Adjustments | |||||||||||
2014/2015 IRS audit settlement | — | — | 4 | ||||||||
Total Adjustments (B) | — | — | 4 | ||||||||
Adjusted earnings (A-B) | 198 | 167 | 137 | ||||||||
Average member's equity (C) | 1,938 | 1,756 | 1,607 | ||||||||
Gross debt (D) | 2,340 | 2,189 | 1,788 | ||||||||
Less cash and cash equivalents (E) | 17 | 48 | — | ||||||||
Net debt (D-E) | 2,323 | 2,141 | 1,788 | ||||||||
Total capitalization (F) | 4,380 | 4,029 | 3,461 | ||||||||
Less cash and cash equivalents (G) | 17 | 48 | — | ||||||||
Net capitalization (F-G) | 4,363 | 3,981 | 3,461 | ||||||||
(%) | |||||||||||
Return on average member's equity – As-Reported (A/C) | 10.2 | 9.5 | 8.7 | ||||||||
Return on average member's equity – Adjusted ((A-B)/C) | 10.2 | 9.5 | 8.5 | ||||||||
Debt to capital (D/F) | 53.4 | 54.3 | 51.7 | ||||||||
Net debt to net capital ((D-E)/(F-G)) | 53.2 | 53.8 | 51.7 |
ENTERGY NEW ORLEANS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
As-reported net income (A) | 64 | 32 | 49 | ||||||||
Adjustments | |||||||||||
State corporate income tax rate change | — | 2 | — | ||||||||
2014/2015 IRS audit settlement | — | — | (1) | ||||||||
Total Adjustments (B) | — | 2 | (1) | ||||||||
Adjusted earnings (A-B) | 64 | 30 | 50 | ||||||||
Average member's equity (C) | 671 | 623 | 552 | ||||||||
Gross debt (D) | 780 | 792 | 646 | ||||||||
Less securitization debt (E) | 18 | 30 | 41 | ||||||||
Gross debt, excluding securitization debt (D-E) | 762 | 763 | 604 | ||||||||
Less cash and cash equivalents (F) | 4 | 43 | — | ||||||||
Net debt, excluding securitization debt (D-E-F) | 758 | 720 | 604 | ||||||||
Total capitalization (G) | 1,483 | 1,431 | 1,253 | ||||||||
Less securitization debt (H) | 18 | 30 | 41 | ||||||||
Total capitalization, excluding securitization debt (G-H) | 1,465 | 1,401 | 1,211 | ||||||||
Less cash and cash equivalents (I) | 4 | 43 | — | ||||||||
Net capitalization, excluding securitization debt (G-H-I) | 1,461 | 1,358 | 1,211 | ||||||||
(%) | |||||||||||
Return on average member's equity – As-Reported (A/C) | 9.6 | 5.1 | 8.9 | ||||||||
Return on average member's equity – Adjusted ((A-B)/C) | 9.6 | 4.9 | 9.1 | ||||||||
Debt to capital (D/G) | 52.6 | 55.4 | 51.5 | ||||||||
Debt to capital, excluding securitization debt ((D-E)/(G-H)) | 52.0 | 54.4 | 49.9 | ||||||||
Net debt to net capital, excluding securitization debt ((D-E-F)/(G-H-I)) | 51.9 | 53.0 | 49.9 |
REG G RECONCILIATIONS | |||||||||||
ENTERGY TEXAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
As-reported earnings applicable to common stock (A) | 301 | 227 | 213 | ||||||||
Adjustments | |||||||||||
True-up for prior year's portion of the equity component of carrying | |||||||||||
costs for 2020 storms | 18 | — | — | ||||||||
2014/2015 IRS audit settlement | — | — | 2 | ||||||||
Income tax effect on Utility adjustment above | (4) | — | — | ||||||||
Total Adjustments (B) | 13 | — | 2 | ||||||||
Adjusted earnings (A-B) | 288 | 227 | 211 | ||||||||
Average common equity (C) | 2,543 | 2,284 | 1,943 | ||||||||
Gross debt (D) | 2,904 | 2,362 | 2,499 | ||||||||
Less securitization debt (E) | 275 | 54 | 123 | ||||||||
Gross debt, excluding securitization debt (D-E) | 2,629 | 2,308 | 2,376 | ||||||||
Less cash and cash equivalents (F) | 3 | — | 249 | ||||||||
Net debt, excluding securitization debt (D-E-F) | 2,625 | 2,308 | 2,127 | ||||||||
Total capitalization (G) | 5,583 | 4,845 | 4,657 | ||||||||
Less securitization debt (H) | 275 | 54 | 123 | ||||||||
Total capitalization, excluding securitization debt (G-H) | 5,308 | 4,791 | 4,534 | ||||||||
Less cash and cash equivalents (I) | 3 | — | 249 | ||||||||
Net capitalization, excluding securitization debt (G-H-I) | 5,305 | 4,791 | 4,285 | ||||||||
(%) | |||||||||||
ROE – As-Reported (A/C) | 11.8 | 9.9 | 11.0 | ||||||||
ROE – Adjusted ((A-B)/C) | 11.3 | 9.9 | 10.9 | ||||||||
Debt to capital (D/G) | 52.0 | 48.7 | 53.7 | ||||||||
Debt to capital, excluding securitization debt ((D-E)/(G-H)) | 49.5 | 48.2 | 52.4 | ||||||||
Net debt to net capital, excluding securitization debt ((D-E-F)/(G-H-I)) | 49.5 | 48.2 | 49.7 |
REG G RECONCILIATIONS | |||||||||||
SYSTEM ENERGY RESOURCES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
As-reported net income (A) | (277) | 107 | 99 | ||||||||
Adjustments | |||||||||||
Litigation settlement regulatory charge | (551) | — | — | ||||||||
Depreciation adjustment | 33 | — | — | ||||||||
Sale-leaseback reg liability / DTA turnaround | (13) | — | — | ||||||||
Income tax effect on Utility adjustment above | 129 | — | — | ||||||||
Regulatory liability for potential refund for rate base reduction | |||||||||||
retroactive to 2015 | — | — | (19) | ||||||||
2014/2015 IRS audit settlement | — | — | 3 | ||||||||
Total Adjustments (B) | (402) | — | (16) | ||||||||
Adjusted earnings (A-B) | 125 | 107 | 115 | ||||||||
Average common equity (C) | 1,021 | 1,086 | 896 | ||||||||
Gross debt (D) | 778 | 741 | 805 | ||||||||
Less cash and cash equivalents (E) | 3 | 89 | 242 | ||||||||
Net debt (D-E) | 775 | 652 | 563 | ||||||||
Total capitalization (F) | 1,728 | 1,833 | 1,886 | ||||||||
Less cash and cash equivalents (G) | 3 | 89 | 242 | ||||||||
Net capitalization (F-G) | 1,725 | 1,743 | 1,644 | ||||||||
(%) | |||||||||||
ROE – As-Reported (A/C) | (27.1) | 9.8 | 11.1 | ||||||||
ROE – Adjusted ((A-B)/C) | 12.2 | 9.8 | 12.8 | ||||||||
Debt to capital (D/F) | 45.0 | 40.4 | 42.7 | ||||||||
Net debt to net capital ((D-E)/(F-G)) | 44.9 | 37.4 | 34.2 |
REG G RECONCILIATIONS | |||||||||||
ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||
2020-2022 | |||||||||||
($ millions) | 2022 | 2021 | 2020 | ||||||||
As-reported net income (loss) attributable to Entergy Corporation | 63 | (123) | (65) | ||||||||
Net income (loss) | 65 | (121) | (63) | ||||||||
Add back: interest expense | 8 | 13 | 22 | ||||||||
Add back: income taxes | 54 | (25) | 105 | ||||||||
Add back: depreciation and amortization | 14 | 44 | 102 | ||||||||
Subtract: interest and investment income | (34) | 119 | 234 | ||||||||
Add back: decommissioning expense | 28 | 120 | 205 | ||||||||
Adjusted EBITDA | 204 | (87) | 137 |
ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||||||||||||
1Q21-4Q22 | ||||||||||||||||||||||||||
($ millions) | 1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q21 | 2Q21 | 3Q21 | 4Q21 | ||||||||||||||||||
As-reported net income (loss) attributable to Entergy Corporation | 7 | 87 | (19) | (12) | 38 | (275) | 26 | 89 | ||||||||||||||||||
Net income (loss) | 8 | 87 | (19) | (12) | 38 | (275) | 26 | 90 | ||||||||||||||||||
Add back: interest expense | 1 | 2 | 2 | 3 | 4 | 4 | 3 | 2 | ||||||||||||||||||
Add back: income taxes | 3 | 25 | 18 | 8 | 16 | (72) | 9 | 22 | ||||||||||||||||||
Add back: depreciation and amortization | 9 | 3 | 1 | 1 | 13 | 14 | 9 | 9 | ||||||||||||||||||
Subtract: interest and investment income | (17) | (24) | 3 | 4 | 48 | 50 | 3 | 18 | ||||||||||||||||||
Add back: decommissioning expense | 14 | 14 | — | — | 53 | 40 | 14 | 14 | ||||||||||||||||||
Adjusted EBITDA | 51 | 156 | — | (3) | 76 | (338) | 57 | 118 |
ENTERGY CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||
INVESTOR NEWS | COMMON STOCK INFORMATION | |||||||||||||||||||
Visit our investor relations website at www.entergy.com/investors for | The company’s common stock is listed on the New York and | |||||||||||||||||||
earnings reports, financial releases, SEC filings and other investor information. | Chicago exchanges under the symbol “ETR.” The Entergy share | |||||||||||||||||||
price is reported daily in the financial press under “Entergy” in | ||||||||||||||||||||
INVESTOR RELATIONS | most listings of New York Stock Exchange securities. Entergy | |||||||||||||||||||
Securities analysts and representatives of financial institutions | common stock is a component of the following indices: S&P | |||||||||||||||||||
may contact: | 500, S&P Utilities Index, Philadelphia Utility Index and the NYSE | |||||||||||||||||||
William Abler | Composite Index, among others. | |||||||||||||||||||
Vice President, Investor Relations | ||||||||||||||||||||
Telephone: 281-297-5436 | As of Jan. 31, 2023, there were 211,396,291 shares of Entergy | |||||||||||||||||||
E–mail: wabler@entergy.com | common stock outstanding. Shareholders of record totaled | |||||||||||||||||||
20,696, and approximately 489,510 investors held Entergy stock in | ||||||||||||||||||||
SHAREHOLDER ACCOUNT INFORMATION | “street name” through a broker. | |||||||||||||||||||
EQ Shareowner Services is Entergy’s transfer agent, | ||||||||||||||||||||
registrar, dividend disbursing agent, and dividend reinvestment | CERTIFICATIONS | |||||||||||||||||||
and stock purchase plan agent. Shareholders of record with | In May 2022, Entergy’s Chief Executive Officer certified to the | |||||||||||||||||||
questions about lost certificates, lost or missing dividend checks | New York Stock Exchange that he was not aware of any violation | |||||||||||||||||||
or notifications of change of address should contact: | of the NYSE corporate governance listing standards. Also, Entergy | |||||||||||||||||||
EQ Shareowner Services | filed certifications regarding the quality of the company’s public | |||||||||||||||||||
P.O. Box 64874 | disclosure, required by Section 302 of the Sarbanes-Oxley Act of | |||||||||||||||||||
St. Paul, MN 55164-0874 | 2002, as exhibits to our Annual Report on Form 10-K for the fiscal year | |||||||||||||||||||
Phone: 1-855-854-1360 | ended Dec. 31, 2022. | |||||||||||||||||||
Internet: www.shareowneronline.com | ||||||||||||||||||||
DIVIDEND PAYMENTS | ||||||||||||||||||||
CORPORATE GOVERNANCE | All of Entergy’s 2022 distributions were non-dividend | |||||||||||||||||||
Entergy’s Corporate Governance Guidelines, Board Committee Charters | distributions. The board of directors declares dividends quarterly | |||||||||||||||||||
for the Audit, Corporate Governance, and Personnel Committees, Entergy's | and sets the record and payment dates. Subject to board | |||||||||||||||||||
Code of Entegrity and other ethics policies may be accessed electronically | discretion, those dates for 2023 are: | |||||||||||||||||||
by selecting the governance page on Entergy’s corporate website | ||||||||||||||||||||
at entergy.com. | DECLARATION DATE | RECORD DATE | PAYMENT DATE | |||||||||||||||||
January 27 | February 10 | March 1 | ||||||||||||||||||
ADDITIONAL INFORMATION | April 10 | May 4 | June 1 | |||||||||||||||||
For copies of the above Corporate Governance documents, Entergy’s | July 28 | August 11 | September 1 | |||||||||||||||||
10-K and 10-Q reports filed with the Securities and Exchange | October 27 | November 14 | December 1 | |||||||||||||||||
Commission, or for other investor information, email investorrelations@entergy.com. | ||||||||||||||||||||
Quarterly dividend payments (in cents-per-share): | ||||||||||||||||||||
QUARTER | 2022 | 2021 | 2020 | |||||||||||||||||
1 | 101 | 95 | 93 | |||||||||||||||||
2 | 101 | 95 | 93 | |||||||||||||||||
3 | 101 | 95 | 93 | |||||||||||||||||
4 | 107 | 101 | 95 |